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which said permits and/or licenses allow the Company to locate, occupy and operate the <br /> Establishment in the Town, then the Company agrees to provide the following Annual Payment for <br /> each year this Agreement is in effect; provided, however, that if the Company fails to secure any <br /> such other license and/or approval as may be required, or any of required municipal approvals,the <br /> Company shall reimburse the Town for its legal fees associated with the negotiation of this <br /> Agreement, <br /> a. Company shall make Annual Payments in an amount equal to three percent /396\ of gross <br /> revenue from Adult-Use marijuana and marijuana product sales atthe Establishment. In <br /> the first year of operation, the Annual Payment shall be paid in two payments. The first <br /> payment shall be in the amount of Two Hundred Thousand (<200,000) upon <br /> commencement of sales at the retail Establishment in Town. The second payment shall be <br /> the balance of the three percent of gross sales less the initial Two Hundred Thousand <br /> ($200,000) payment. The balance ofthe Annual Payment shall bedue nolater than twelve <br /> (12) months after the opening date (the "Opening Date") <br /> b. In the second, third, fourth and fifth years of operation: 3% of the gross sales of Adult-Use <br /> marijuana and marijuana products sales at the Establishment in each year of operation shall <br /> be paid in two (2) six (6) month segments; the first, covering the first six (6) months of the <br /> operating year, measured annually form the Opening Date, shall be paid within two <br /> hundred forty /240\ days and the balance, covering the second six(6) months of the <br /> operating year,to be paid within sixty (60) days after the end of the year of operation. <br /> c. With regard to any year of operation for the Establishment which is not a full calendar year, <br /> the applicable Annual Payments shall be pro-rated accordingly. <br /> 3. Payments. <br /> Company shall make the Annual Payments set forth in Paragraph 2,above,to the Town of Mashpee. <br /> To the extent permitted by law, the Treasurer of the Town may hold the Annual Payments in a <br /> separate account, to be expended bythe Town without further appropriation pursuant to G.L. c. <br /> 44 § 53A, or otherwise in trust, for the purposes of addressing the potential health,safety, and <br /> other effects or impacts of the Establishment on the Town on municipal programs, services, <br /> personnel, and facilities. Otherwise, said Annual Payments shall be deposited into the General <br /> Fund. While the purpose of the Annual Payments is to assist the Town in addressing any public <br /> health, safety, and other effects orimpacts the Establishment may have on the Town and on <br /> municipal programs, services, personnel, and facilities, the Town may expend the Annual <br /> Payments at its sole and absolute discretion. Notwithstanding the Annual Payments, nothing <br /> shall prevent the Company from making additional donations from time to time to causes that <br /> will support the Town, including but not limited to local drug abuse <br /> prevent\on/treatment/educationprogranns. <br /> 4. Other Payments <br /> Company anticipates that it will make purchases of water, and sewer (if available)from local <br /> government agencies. Company will pay any and all fees associated with the local permitting <br /> ofthe Establishment. |fthe Town receives other payments from the Company orfrom the <br /> Department of Revenue or any other source, including but not limited to taxes imposed by an <br /> act of the legislature of the Commonwealth of Massachusetts, or a mandate from the Town <br /> for said payments, the amounts due from the Company to the Town under the terms of this <br /> Agreement shall not be reduced by the amount ofsuch other payments. <br /> 2 <br />