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"Work Product" means the tangible or intangible results of Grantee's Work, including, but not limited to, <br />software, research, reports, studies, data, photographs, negatives or other finished or unfinished documents, <br />drawings, models, surveys, maps, materials, or work product of any type, including drafts. <br />5. TERM and EARLY TERMINATION. <br />Intial Term -Work Commencement <br />The Parties respective performances under this Grant shall commence on the later of either the Effective <br />Date or December 31, 2012. This Grant shall terminate on March 31, 2016 unless sooner terminated or <br />further extended as specified elsewhere herein. <br />6. STATEMENT OF WORK <br />A. Completion <br />Grantee shall complete the Work and its other obligations as described herein and in Exhibit A on or <br />before March 31, 2016. The State shall not be liable to compensate Grantee for any Work performed prior <br />to the Effective Date or after the termination of this Grant. <br />B. Goods and Services <br />Grantee shall procure Goods and Services necessary to complete the Work. Such procurement shall be <br />accomplished using the Grant Funds and shall not increase the maximum amount payable hereunder by the <br />State. <br />C. Employees <br />All persons employed by Grantee or Sub - grantees shall be considered Grantee's or Sub - grantees' <br />employee(s) for all purposes hereunder and shall not be employees of the State for any purpose as a result <br />of this Grant. <br />7. PAYMENTS TO GRANTEE <br />The State shall, in accordance with the provisons of this §7, pay Grantee in the following amounts and using the <br />methods set forth below: <br />A. Maximum Amount <br />The maximum amount payable under this Grant to Grantee by the State is $914,400 as determined by the <br />State from available funds. Grantee agrees to provide any additional funds required for the successful <br />completion of the Work. Payments to Grantee are limited to the unpaid obligated balance of the Grant as <br />set forth in Exhibit A. The maximum amount payble by the State to Grantee during each State fiscal year <br />of this Grant shall be: <br />$914,400 in FY2013 <br />$914,400 in FY2014, minus any funds expended in <br />FY2013 <br />$914,400 in FY2015, minus any funds expended in <br />FY2013 and FY2014 <br />$914,400 in FY2016, minus any funds expended in <br />FY2013, FY2014 and FY2015 <br />i. Advance, Iterim and Final Payments <br />Any payment allowed under this Grant or in Exhibit A shall comply with State Fiscal Rules and be <br />made in accordance with the provisions of this Grant or such Exhibit. Grantee shall initiate any <br />payment requests by submitting invoices to the State in the form and manner set forth and approved by <br />the State. <br />ii. Interest <br />The State shall fully pay each invoice within 45 days of receipt thereof if the amount invoiced <br />represents peformance by Grantee previously accepted by the State. Uncontested amounts not paid by <br />the State within 45 days may, if Grantee so requests, bear interest on the unpaid balance beginning on <br />the 46th day at a rate not to exceed one percent per month until paid in full; provided, however, that <br />interest shall not accrue on unpaid amounts that are subject to a good faith dispute. Grantee shall <br />Page 3 of 15 <br />