65 IAC 2-1-15 Contract terms

Sec. 15. No contract shall obligate the commission for a period in excess of four (4) years without the prior approval of the commission. A contract may contain one (1) or more option periods or provisions for extensions of the contract term, but only if an individual option period or extension: (1) does not exceed two (2) years in duration; and (2) becomes effective only upon the specific, affirmative exercise of the option, or the specific, affirmative agreement to the extension, by the director.