Morehead State University
180 Martindale Drive
Morehead, KY 40351
April 27, 2022
This Amendment to the Service Agreement dated May 1, 2020 (as may be previously supplemented and/or amended, the “Agreement”) is made as of March 14, 2022 (“Amendment Effective Date”) by and between EAB Global, Inc. (“EAB”) and the Morehead State University (“Client” or “you”) (each of EAB and Client, a “Party” and collectively, the “Parties”) amends and supplements the Agreement as set forth in more detail below. Capitalized terms not defined herein shall have the meaning attributed to them in the Agreement.
For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree:
Client engaged EAB to provide Services that began May 1, 2020 with an intended expiration date of June 30, 2023 as defined in the Agreement (the "Term").
Upon execution of this Amendment, Client hereby agrees to exercise its opt in option for FY 2024 and FY 2025 pursuant to Section I, Service Descriptions and thus extend the term by the two (2) successive 12-month periods. For avoidance of doubt, the new expiration date of the Term will be June 30, 2025 ("Updated Term").
Additionally, in exchange for Client's full satisfaction of all payment obligations for FY 2024 and FY 2025, via a one-time payment of $1,031,050. EAB is pleased to revise the Fees for FY 2024 and FY 2025 as outlined below, to account for the Updated Term:
| FY24 | FY25 | TOTAL |
|---|
| Current Program Costs | $512,370 | $527,680 | $1,040,050 |
|---|
| Revised Postage Cost | $20,000 | $20,000 | $40,000 |
|---|
| Revised Digital Media Cost | $7,500 | $7,500 | $15,000 |
|---|
| Special Pre-Pay Program Discount | ($30,000) | ($34,000) | ($64,000) |
|---|
| Total Revised Fees | $509,870 | $521,180 | $1,031,050 |
|---|
Invoicing:
Organization will be billed $1,031,050 upon execution of this Amendment representing the Total Revised Fees for FY 2024 and FY 2025.
In all other respects, the Agreement, as amended, is hereby ratified and confirmed and shall remain in full force and effect. In the event of a conflict between this Amendment and the Agreement, then this Amendment will control.
This Amendment may be signed using one or more counterparts. The multiple executed copies together will be considered an original and will be binding on the parties.
EAB Global, Inc.:
Alpman. Franke
Signature: ___
Name: Alyssa Franklin
Title: Executive Director
Date: 4/27/2022
Morehead State University
Morehead State University
Signature:
Name: Jo seyl Morgann
Title: ___
Date: 5-31-22
Ver 6/20