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<br />2. Term. This Agreement shall be binding upon execution by all Parties. <br />Unless earlier terminated, this Agreement will be effective from July 1, 2007 until June <br />30, 2008. <br /> <br />3. Structure of Redwood Cit~ 2020. <br /> <br />a. Cabinet Committee. The Redwood City 2020 Cabinet Committee is <br />hereby established and shall be composed of directors from the public <br />institutions - the City, County, Elementary School District, and High School <br />District. <br /> <br />b. Coordinating Council. The Redwood City 2020 Coordinating <br />Council is hereby established and shall be composed of one representative from <br />each of the funding partner's governing boards (and one alternate member from <br />each of these boards). <br /> <br />c. The Cabinet Committee and the Coordinating Council shall follow <br />the structure described in Exhibit A (Governance Structure), which is attached <br />hereto and incorporated herein by reference. <br /> <br />4. Redwood City 2020 Staff. It is understood that Redwood City 2020 will <br />require the services of an Executive Director and related support staff for its day to day <br />operations. The Cabinet Committee will designate the City to contract for the Executive <br />Director, Administrative Secretary and necessary staff on behalf of the Committee. The <br />City will serve as fiscal agent for the employees and related expenses. <br /> <br />5. Funding. Each of the Parties shall contribute twenty-five thousand dollars <br />($25,000) annually to support the work of Redwood City 2020. The City, County, The <br />Elementary School District and High School District acknowledge that they shall make a <br />twenty-five thousand dollar ($25,000) contribution for Fiscal Year 2007-2008 within ten <br />(10) days after execution of the Agreement. <br /> <br />a. As Fiscal Agent, the City is authorized to receive money on behalf <br />of Redwood City 2020 and deposit same into a special deposit account in the <br />City's General Fund. The money received on behalf of Redwood City 2020 shall <br />be disbursed as requested by the Redwood City 2020 Executive Director in <br />writing, subject to City administrative procedures. <br /> <br />b. At no time shall the City be under any obligation to disburse money <br />to Redwood City 2020 in excess of the amount on deposit. The Committee <br />acknowledges that money received by the City will not be available for <br />disbursement for three (3) business days after the funds have been deposited by <br />City, or for a longer period, as deemed appropriate by City's Finance Director. <br /> <br />6. Hold Harmless. Each Party ("indemnitor") hereby agrees to defend, <br />indemnity, and save harmless each other Party and its respective governing board, <br /> <br />Atty/Agr/RC2020 Master Agreement <br />040104 <br /> <br />2 <br />