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1.2 Fixed Cost Contract: This is a fixed cost contract. The cost shall not exceed, unless approved by an amendment, TWENTY THOUSAND DOLLARS ($20,000.00) annually. 1.3 Quarterly Reports: The Chamber shall provide the Town with a quarterly report of its services on or before January 1st, April 1st, July 1st, and October 1st. Further, at the request of the Town, the Chamber shall meet with Town representatives at the Town offices to review ongoing initiatives and progress at a mutually convenient time. 2. COMMENCEMENT; TERM 2.1 Commencement Date: Performance of Services shall begin on January 1, 2026. 2.2 Term: The Term of this Agreement shall be from January 1, 2026 through December 31, 2030. 3. PERSONNEL 3.1 Personnel: The Chamber represents that it has, or will secure at its own expense, all professionally qualified personnel required to perform the services outlined in this Agreement. 3.2 Chamber's Status as Independent Contractor: The Chamber and its personnel shall not be employees of the Town for any purpose. The Chamber shall have sole responsibility to employ, supervise and pay such employees, professionals, subcontractors, and sub-consultants as are necessary for the efficient performance of this Agreement. Under no circumstances shall the Town be responsible for any employee, professional, principal, subcontractor, or sub-consultant of the Chamber for the payment of wages, fees, taxes, withholding, workers’ compensation, unemployment insurance, or any other form of remuneration that would signify an employer/employee relationship between the Town and the Chamber or any employee, professional, principal, subcontractor or sub- consultant of the Chamber. 4. TERMINATION FOR CAUSE 4.1 Events of Default: Any one or more of the following acts or omissions by the Chamber shall constitute an event of default hereunder (hereinafter referred to as "Events of Default"): a. Failure to perform or complete any of the Services as scheduled or as required by this Agreement; b. Failure to maintain the records required hereunder or to permit access thereto; Page 73 of 190