Financial Benefits to KSU:
$500,000 one-time payment to KSU within 180 days of contract execution.
Annual $25,000 scholarship contribution for the duration of the contract.
Commissions:
15% on physical course material sales.
12% on general merchandise sales.
10% on expanded online merchandise store sales.
Additional $50,000 one-time payments in Year 8 and Year 10 if renewals are executed.
RECOMMENDATION:
President Koffi C. Akakpo recommends the Board of Regents approve the Follett Book Store Contract.
MOTION:
Approve the Follett Book Store Contract.