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1. General. (a) The representations, covenants, and recitations set forth in the foregoing recitals are material to this Agreement and are hereby incorporated into and made part of this Agreement as though they were fully set forth in this Section. (b) The Parties agree, subject to the further proceedings required by law, to take such actions, including the execution and delivery of such documents, instruments, petitions and certifications as may be necessary or appropriate, from time to time, to carry out the terms, provisions, and intent of this Agreement and to aid and assist each other in carrying out said terms,provisions, and intent. 2. Contract Amount and Purpose of Funds. The Commission agrees to pay to the School Corporation $542,716 (the "Contract Amount"). In consideration of the receipt of Contract Amount, the School Corporation agrees to apply the Contract Amount to the implementation of the PLTW programming in the City Schools. As used herein, implementation of the PLTW programming shall mean the provision of a STEM curriculum in the City Schools as provided by PLTW. 3. Contract Period. The term of the Contract shall commence on the Effective Date and shall extend until June 1, 2017(the"Contract Period"). 4. Payment Schedule. The Commission will make payments to the School Corporation in the following installments: (a) $280,000 on or before October 31,2014; (b) $170,000 on or before August 1, 2015; and (c) $92,716 on or before August 1, 2016. 5. School Corporation Matching Funds. The School Corporation agrees that it will expend during the term of this Agreement an amount equal to not less than $589,197 on PLTW programming in the City Schools. In addition, the School Corporation will apply funding that may be received from PLTW and the St. Joseph County Chamber of Commerce from time to time for such purposes. 6. Reporting Schedule. The School Corporation agrees to provide annually on or before August 1 of the second and final years of this Agreement a report with respect to the activities undertaken by the School Corporation to implement and operate PLTW programming in the City Schools. Such report shall include a summary of how the funds provided by the Commission under this Agreement were expended by the School Corporation and also the amount of School Corporation funds expended during the same time frame for PLTW programming. Such report shall also include any available demonstrative data showing the impact that PLTW programming has had on the education of the students participating in the PLTW programming. -3 - US.54807965.03