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MEMORANDUM OF AGREEMENT V v t/.T- The purpose of this memorandum of agreement Is to set forth the mutual administrative responsibilities of the principal research investigator and the sponsor. Therefore, it is mutually agreed that, A, The principal investigator shall submit to the sponsor, at six month intervals, an informal statement of expenditures of monies advanced for research activities. It is requested that the statement be submitted in essentially the following formt - • . % Personal Compensation (Salaries, Subject Fees) Equipment Supplies and Services . Contingencies Overhead B, It is understood that any travel expenses incurred in the _ furtherance of the research program will be accounted to the University in a manner consistent vith its established practices and policies. I C, The principal investigator shall submit to the sponsor semi-annual reports on the technical progress of the research covered by these funds, ^ D, Title to any permanent equipment shall be retained by the University in lieu of higher overhead rates.