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3.3. Regular Meetings. The Company shall conduct and hold <br /> regular periodic meetings with the EDA Executive Director and members of <br /> • the EDA Commission as determined appropriate for the purpose of reviewing <br /> the Company's progress. The Company acknowledges that as part of the <br /> services provided to it hereunder, the Company shall receive advice and <br /> counsel from such Executive Director and EDA Commissioners. The <br /> Company shall hold and conduct such meetings at least once every quarter <br /> during the term of this Agreement. <br /> 3.4. Board Meetings. The Company shall provide EDA with <br /> written notice of, and allow an EDA representative or designee to attend, all <br /> regular and special meetings of the Company's Board of Directors and/or <br /> Board of Advisors (collectively the `Boards"). Although an EDA <br /> representative or designee may offer guidance or advice to the Boards, no <br /> officer, director, agent, or employee of EDA shall be deemed a member of the <br /> Company's Boards. Any EDA representative or designee attending the <br /> meetings for the Company's Boards shall attend without a vote, without <br /> compensation, and without fiduciary or legal responsibility to the Company, <br /> its officers, directors, or stockholders. The Company shall indemnify the <br /> EDA, including its representative or designee attending such Board <br /> meetings, against all costs and liabilities to the same extent as the Company <br /> so indemnifies its officers and/or directors. The EDA, or its representative or <br /> designee, shall hold all Company information in strict confidence. <br /> 111/ 3.5. Job Openings. The Company shall keep a written <br /> record of all persons interviewed and hired and complete the Notice to <br /> Employee attached as Exhibit B, upon hiring for each position. The <br /> Company acknowledges that a portion of the funds used to facilitate the Elk <br /> River Business Incubator are provided from Federal Community <br /> Development Block Grants and as such, the EDA and Company are required <br /> to meet certain standards for the use of such funds. Such standards include <br /> that the Company is required to employ, or make available, a minimum 51 <br /> percent of their job openings to those meeting the low/moderate income <br /> guideline of the Minneapolis/St. Paul MSA. <br /> 3.6. Vendor Contracts. The Company shall make available to <br /> the EDA Executive Director, all vendor contracts. Such vendor contracts will <br /> be used to provide opportunities to local manufacturing companies in order to <br /> create and retain jobs in our community. The Company is strongly <br /> encouraged to utilize local businesses in its manufacturing and production of <br /> goods, however the Company is allowed to make the final decision on its own <br /> vendors at all times. <br /> 4. INDEMNIFICATION. The Company shall indemnify and <br /> • hold harmless the EDA from any loss, damage, expense, liability, or claim, <br /> including without limitation attorneys' fees and expenses of litigation, to <br /> which such parties may become subject arising out of: (a) any failure of the <br /> Company to perform any of its covenants, agreements or undertaking <br />