(a) Each recipient of an Underwood-Smith Teaching Scholars award shall enter into an agreement with the Vice Chancellor for Administration under which the recipient shall meet the following conditions:

(1) Provide the commission with evidence of compliance with §18C-4-4(a) of this code;

(2) Beginning within one year after completing the teacher education program for which the scholarship was awarded, teach full-time in a critical teacher shortage field at the elementary, middle or secondary level, under contract with a county board of education in a public education program in the state, for a period of not fewer than five consecutive years for the four academic years. Any teaching time accrued during the required five-year period as a substitute teacher for a county board of education in a critical teacher shortage field at the elementary, middle or secondary level shall be credited pro rata in accordance with rules promulgated by the commission; or

(3) Repay all or part of an Underwood-Smith Teaching Scholars award received under this article plus interest and, if applicable, reasonable collection fees in accordance with §18C-4-4 of this code.

(b) Scholarship agreements shall disclose fully the terms and conditions under which assistance under this article is provided and under which repayment may be required. The agreements shall include the following:

(1) A description of the conditions and procedures to be established under §18C-4-4 of this code; and

(2) A description of the appeals procedure required to be established under §18C-4-4 of this code.