2015/11/10 Council Agenda Packet

Z (512)471-6231 3.2 University shall maintain all Research Program funds in a separate account and shall expend such funds for wages, supplies, equipment, travel, food charges for meetings/conferences with sponsor and other operational expenses in connection with the Research Program. It is understood that funds of the Research Program which are not used in a particular quarter may be used in subsequent quarters, and that the Principal Investigator may transfer funds within the budget as needed without Sponsor's approval, as long as such transfers do not effect a change in the scope of work of the Research Program. It is also understood that subject to Section 11.4, uncommitted and unexpended funds remaining at the termination of the Agreement shall be returned to Sponsor; provided,however,that the parties agree that in order to minimize administrative close-out expenses, if funds remaining upon termination or expiration of the Agreement equal$250.00 or less,such funds shall be retained by the University and disposed of in accordance with University policy. 3.3 University shall retain title to all equipment purchased and/or fabricated by it with funds provided by Sponsor under this Agreement. 4. CONSULTATION AND REPORTS 4.1 Sponsor's designated representative ("Designated Representative") for consultation and communications with the Principal Investigator shall be Tom Hingson or such other person as Sponsor may from time to time designate in writing to University and the Principal Investigator. 4.2 During the tenn of the Agreement, Sponsor's representatives may consult informally with University's representatives regarding the project, both personally and by telephone. Access to work carried on in University laboratories in the course of these investigations shall be entirely under the control of University personnel but shall be made available on a reasonable basis. 4.3 The Principal Investigator will make oral report(s) as requested by Sponsor's Designated Representative. The University's Office of Accounting shall submit a comprehensive final report within one hundred twenty(120) days of termination of the Agreement which shall contain, but which need not be limited to, a final invoice, if not previously submitted, for expenses of the Research Program for the prior year,which reflects cumulative expenses incurred during the term of the Agreement(SPAR). 5.PUBLICITY Subject to Section 15 below,neither party shall make reference to the other in a press release or any other written statement in connection with work performed under this Agreement, if it is intended for use in the 3 62