Docusign Envelope ID: 77FA13D4-9B94-40B4-9FA4-40D42B04446D
BOOKSTORE OPERATING AGREEMENT BETWEEN KENTUCKY STATE UNIVERSITY AND FOLLETT HIGHER EDUCATION GROUP, LLC.
This Bookstore Operating Agreement ("Agreement") is made as of July 1, 2025 between Kentucky State University ("University") and Follett Higher Education Group, LLC, f/k/a Follett Higher Education Group, Inc. ("Follett").
Intending to be legally bound, University and Follett agree:
1. Stores. Subject to all the terms and conditions in this Agreement, Follett shall operate a campus store and support an off-campus "pop-up" store ("Store") for University and agrees to offer certain products for purchase and use by University.
2. Term. This Agreement shall take effect July 1, 2025 and shall continue until June 30, 2032. Upon the agreement of the parties, this Agreement shall be subject to the renewal for two (2), two (2) year periods. For the purpose of financial calculations and reporting, the "contract year" shall be defined as July 1 to June 30.
3. Termination for Non-Performance. Either party may terminate the resulting contract for non-performance for such causes as:
3.1 Notification. The party will provide the other party with ten (10) calendar days' written notice of default. Unless arrangements are made to correct the non-performance issues to the complaining party's satisfaction within ten (10) calendar days, the complaining party may terminate the contract by giving forty-five (45) days' notice (by registered or certified mail) of its intent to cancel this contract.
Failure to provide satisfactory quality of service, including: failure to maintain adequate personnel (whether arising from labor disputes or otherwise); any substantial change in ownership or proprietorship of the contractor which is not in the best interest of the other party; or failure to comply with the terms of this contract.
Failure to keep or perform (within the time period set forth herein) or violation of any of the covenants, conditions, provisions or agreements herein contained.
Adjudication as a voluntarily bankrupt, making a transfer in fraud of its creditors, filing a petition under any section from time to time, or under any similar law or statute of the United States or any state thereof, or if an order for relief shall be entered against the Contractor in any proceeding filed by or against contractor thereunder. In the event of any such involuntary bankruptcy proceeding being instituted against the Contractor, the fact of such an involuntary petition being filed shall not be considered an event of default until sixty (60) days after filing of said petition in order that Contractor might, during that sixty (60) day period, have the opportunity to seek dismissal of the involuntary petition or otherwise cure said potential default.
Making a general assignment for the benefit of its creditors, or taking the benefit of any insolvency act, or if a permanent receiver or trustee in bankruptcy shall be appointed for the Contractor.