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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 30,2012.This Grant shall terminate on September 30,2014 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 September 30,2014.The State shall not be liable to compensate Grantee for any Work performed <br /> prior 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$161,345,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 /> _$161,345 in FY2012 <br /> $161,345 in FY2013,minus any funds expended in <br /> FY2012 <br /> $161,345 in FY2014,minus any funds expended in <br /> FY2013 <br /> $161,345 in FY2015,minus any funds expended in <br /> FY2014 <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 /> invoice the State separately for accrued interest on delinquent amounts.The billing shall reference the <br /> delinquent payment,the number of day's interest to be paid and the interest rate. <br /> iii.Available Funds-Contingency-Termination <br /> Page 3 of 15 <br /> i <br />