[§307-10] Contracts with state agencies. Any contract between the research corporation and any agency, office, department, or other administrative subdivision of the executive branch of this State shall include the following:

(1) Its termination date;

(2) Its intent and purpose;

(3) A statement establishing the full permissible extent of its applicability; and

(4) A description of the circumstances under which it may be amended or extended. [L 1994, c 97, §1]