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Memorandum of Understanding

Memorandum of Understanding
Between the
<Sponsor's Name>
and
IOWA STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY

 

THIS AGREEMENT is made and entered into on the ______day of __________, 2002, by, and between <Sponsor>, hereinafter referred to as <Sponsor>, and Iowa State University, hereinafter referred to as ISU.

PURPOSE: It is the mutual desire of <Sponsor> and ISU to support research on ___________________________________________________. It is the belief of the cooperating parties that this research will be to their mutual benefit and to the benefit of the people of Iowa.

AGREEMENT: The contracting parties agree as follows:

I. <Sponsor> agrees:

A. To pay the Treasurer of Iowa State University the sum of $XX,XXX on or before _______________________.

B. To make available____________________________________________

___________________________________________________________

___________________________________________________________.

C. That ______________________________________ or his/her designated representative will act for in administering this Agreement.

D. To keep ISU fully advised of any changes which may affect ISU’s performance under this Agreement.

II. ISU agrees:

A. That <PI's name here> shall be responsible for the overall direction of the work to be performed by ISU under this agreement.

B. To make available such other qualified personnel, physical facilities and services as ISU possesses and as may be required to carry out the terms of this Agreement.

C. To conduct experiments on ________________________________________________________________.

D. To prepare such interim reports as may be mutually agreed upon and to prepare an annual report on, or about ______________. Copyrights on reports will be retained by the authors.

III. It is mutually understood and agreed:

A. Funds made available to ISU under the terms of this Agreement shall be expended in accordance with the fiscal regulations governing ISU.

B. ISU may publish the findings made by these studies, but will send all manuscripts to <Sponsor> in reasonable time for comments and criticisms to be received and considered prior to publication. ISU reserves the right to accept or reject such suggestions and will be the final judge of what it will publish. The aid provided by will be acknowledged in such publication. <Sponsor> shall have the right to make such use of the reports or any part thereof as it may desire, but only after their release for publication, unless otherwise agreed to by ISU.

C. The name of either party to the Agreement shall not be used by the other in any advertising, publicity, or news release, etc., related to the work undertaken under the terms of the Agreement without the prior written consent of the other. Such consent shall not be unreasonably withheld.

D. ISU shall have control of the disposal of the right to any patentable discoveries made in the course of the work carried on by ISU under the terms of this Agreement and any patents covering such discoveries. If <Sponsor> requires that a patent application be sought, <Sponsor> will pay for all costs of the application plus a 15% patent administration fee and <Sponsor> shall be granted by the Iowa State University Research Foundation, Inc. (ISURF) a first option to negotiate an exclusive option to the patent. The option period is 180 days and shall commence the day a patent is filed.

E. If ISU fails to substantially perform its obligations, <Sponsor> shall have the right to terminate this agreement. <Sponsor> shall give a 30- day notice of termination. ISU will be compensated for all actual and allowable expenses and all uncancellable obligations properly incurred prior to that date of termination.

F. Performance of this Agreement shall begin on ________, 2002 and shall not extend beyond _______, 200_. It may be extended in its present form, or in a modified form by mutual written agreement.

IN WITNESS WHEREOF, the parties have signed their names effective the day and year first above written.

IOWA STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY         <Sponsor>

 

By______________________________          By______________________________
Principal Investigator

Date________________                                Date________________

 

By______________________________
College of Veterinary Medicine

Date________________

 

By______________________________
Thane Peterson, Director
Office of Sponsored Programs Administration

Date________________