b. This fee has been fixed to TEN THOUSAND US DOLLARS (US$ 10.000,00) per year. Exceptionally, for the first year of admission to this Program which starts on the 1st of July 2016 as stated in point 7 supra, the fee has to be paid according to the remaining period of 2016, that is US$ 5.000,00 (FIVE THOUSAND US DOLLARS).