Orange County NC Website
ARTICLE IV <br /> EFFECTIVE TERM <br /> Both parties agree that the effective term of this Agreement <br /> shall be for a four (4) year period beginning with the date of this <br /> contract. Provided, however, that either party may cancel this <br /> Agreement by giving thirty (30) day' s written notice prior to the <br /> beginning of the County' s fiscal year. Upon receipt of such notice, <br /> JBI shall complete the federal reimbursement claims for the fiscal <br /> year in which the notice is given. JBI shall be compensated for these <br /> final federal claims in accordance with Article VI . <br /> ARTICLE V <br /> RENEWAL <br /> Both parties agree that upon conclusion this Agreement will <br /> automatically be renewed on year-by-year basis, under the same terms <br /> and conditions as set forth herein, unless written notice is given at <br /> least thirty (30) days prior to the expiration of this Agreement. <br /> ARTICLE VI <br /> COMPENSATION <br /> Both parties agree as follows: <br /> 1. The intent of this agreement is to compensate JBI only for new <br /> revenues received by the County that are expressly deemed to be a <br /> result of JBI' s efforts. The parties agree that JBI will be <br /> compensated for new or enhanced revenue that directly result from <br /> JBI' s activities at the following rate: <br /> ❖ Twenty-two percent (22%) of all revenue actually received <br /> (prospectively or retroactively) by the County as a direct <br /> result of the work JBI completes for the County. <br /> 2. JBI will be due its fees on new or enhanced federal reimbursements <br /> received on each program area JBI identifies or enhances for a <br /> minimum two-year period. The initial start date for each program <br /> area will be the date the first new or enhanced claim is submitted <br /> for reimbursement. JBI' s compensation period may be extended <br /> beyond the minimum two-year period, depending on renewals that <br /> occur with this contract. <br />