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"Effective Date" shall mean the Effective Date of this Agreement which is <br />September 10, 2013. <br />"Event of Force Majeure" shall mean any contingency or cause beyond <br />the reasonable control of a party including, without limitation, acts of God or the <br />public enemy, war, riot, civil commotion, insurrection, government or de facto <br />governmental action (unless caused by the intentionally wrongful acts or <br />omissions of the party), fires, explosions or floods, strikes, slowdowns or work <br />stoppages any of which event(s) directly and significantly impact the Company's <br />operations in the City. An economic down turn shall not constitute an event of <br />force majeure. <br />"Facility" shall mean 1445 Clarksville, Paris, TX 75460, or such other <br />offices that R3bi shall occupy. <br />Article II <br />Term <br />The term of this Agreement shall begin on the Effective Date and continue until <br />December 31, 2013 unless sooner terminated as provided herein. <br />Article III <br />Obligations of R3bi <br />In consideration of the grant of public funds as set forth in Article IV below, R3bi agrees <br />to perform the following: <br />(a) Manage and operate a business incubator in the city limits of the City of Paris, <br />Texas until such time that Paris Junior College ( "PJC ") and /or the Paris Small <br />Business Development Center ( "SBDC ") form a new business incubator on the <br />PJC Campus; <br />(b) Work with Paris Junior College and the Small Business Development Center <br />( "SBDC ") to develop a transition plan for R3bi to wind down so that a new <br />Business Incubator program can be started on the campus of Paris Junior College, <br />and so that such Incubator will be the recipient of R3bi personal property. <br />(c) Provide copies of R3bi budget or financial documents as may be requested by <br />City of Paris. <br />(d) Provide report on status or progress of R3bi Incubator as may be requested by <br />Paris City Council. <br />Article IV <br />Economic Development Grant <br />4.01 Grant. In consideration of R3bi's obligations and commitments set out in Article <br />III above, the City agrees to provide the R3bi a total cash grant of $30,000.00 to be disbursed in <br />one payment within five (5) business days following City Council approval of this Agreement. <br />Page 2 of 7 <br />