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b. Program Schedule and Amenities. Each of the Management Program will <br /> be an immersive program at the GSB, which either will consist of five consecutive days or two <br /> sessions of two and one-half days. Participants will stay at the Schwab Residential Center for <br /> the duration of the program. The GSB will provide written materials, beverages, and meals <br /> (breakfast, lunch, dinner and snacks). Except as specified in Section 2(h), below, both programs <br /> shall be completed within two years of execution of the Development Agreement. <br /> c. Advance Notice. The City Manager or his or her designee and the GSB <br /> will select and reserve available dates for each of the Management Programs at least six months <br /> in advance of commencement of each program. Once the program dates have been selected, the <br /> GSB will deduct the applicable Management Program cost from the program's budget allocation. <br /> The GSB will work cooperatively with the City to reschedule dates once per program if <br /> substitute dates are available at no additional cost to the GSB, including opportunity costs. In no <br /> event can dates be cancelled or rescheduled upon less than 60 days notice. <br /> d. Marketing. No marketing materials are needed for the Management <br /> Program. <br /> e. Initial Budget Allocation. Because the Management Program is a <br /> customized program, with sessions attended exclusively by City employees, the GSB's cost of <br /> providing each of the two programs is fixed and will not vary if fewer employees participate in <br /> each of the programs. The initial budget allocated to this program is $370,000 for the one <br /> senior-level program to be provided to up to 12 employees and $440,000 for the one mid-level <br /> program to be provided to up to 40 employees, for a total amount of$810,000. <br /> f. Effect of Reallocation of Budgeted Amounts. By mutual agreement, the <br /> City Manager and Developer may elect to reallocate to the Management Program budget any <br /> unused amounts allocated to other programs described in this Exhibit C. The amount reallocated <br /> to the Management Program budget can be applied to future Management Programs in addition <br /> to the two programs identified in the initial budget allocation, or such amount may be used to <br /> enable additional participants to attend the senior-level employee program, up to a total of 40 <br /> participants, identified in the initial budget allocation. No additional participants can be allowed <br /> for the mid-level employee program. <br /> g. Extension of Pro rag m Beyond the Initial Two Pro r�ams. After the initial <br /> two programs, the GSB may increase the cost for the Management Program by an amount that is <br /> consistent with the retail price that the GSB charges for substantially similar programs. When <br /> the remaining budgeted amount for the program is less than the cost of the program, the <br /> remaining budgeted amount will be reallocated to a different program described in this <br /> Exhibit C. <br /> h. City Option to Defer Second Management Pro�. City, at its option, <br /> may defer the second mid-level Management Program up to two years following completion of <br /> the first senior-level program. <br /> 3. Entre�reneurship Hostin Eg vents. For a period of at least five years, the GSB, at <br /> no cost to City, will host two educational/networking events per year in Redwood City targeted <br /> EXHIBIT C <br /> 3 <br /> ATTY/AGR/2013.134/STANFORD DEVELOPMENT AGREEMENT <br /> REV: 08-14-13 PT <br />