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nuss•LL ATHI..TIC. SPONSORSHIP AGREEMENT
This Agreement made and entered into this 22 day of May, 2012, by and between Russell Brands, LLC , Russell Athletic Division, a Delaware limited liability company having an office at One Fruit of the Loom Drive, Bowling Green Kentucky, 42103 ("Russell"), and Univenity of North Alabama, with its principal office at Hal Self Athletic Annex, Champions Way, Florence, AL (the ''University"). WHEREAS, Russell is a major manufacturer and supplier of athletic apparel and uniforms to colleges and universities in the United States; and WHEREAS, Russell and the University desire to enter into an agreement whereby Russell shall be the exclusive supplier of certain apparel, uniforms, balls and equipment for the University (the "Russell Product") in exchange for certain sponsorship rights from the University (the "Sponsorship Rights") all as more completely set forth herein. NOW THEREFORE, in consideration of the covenants and obligations contained herein and other good and valuable consideration in hand paid, the receipt and sufficiency of which is hereby acknowledged, the parties for hereby agree as follows: l. Term. This Agreement shall commence upon the date of execution hereof by Russell and shall continue for a term expiring on June 30, 2017. Either party may terminate this Agreement upon thirty (30) days written notice should the other party breach any of its obligations hereunder and fail to cure such breach within said thirty (30) day period. In the event of such termination upon a breach by the University, in addition to any other remedies Russell may have at law or in equity, Russell shall be entitled to recover from the University any monetary sponsorship investment paid, including without limitation, the costs of all Russell Product provided, as of the effective date of termination and shall be relieved of any further obligations under this Agreement as of the date of such termination.
2. Russell Supply Obligations. In consideration of the sponsorship rights to be granted to Russell as provided herein, Russell (or Russell's dealer) shall provide the following to the University: a) the following product credits valued at retail prices, as they may exist from time to time, on team apparel and product described on Exhibit A: • 2012-2013 $25,000 • 2013-2014 $50,000* • 2014-2015 $50,000* • 2015-2016 $55,000* • 2016-2017 $60,000* *Permitting NCAA Timeline stays intact, will stay at current product credit of year one (2012-2013) until timeline is matched year. b) through its dealer Russell shall sell all other Russell Product required by the University at 40% off the then current catalog list price for year one (2012-2013).