annual

(adj.) 

coming each year;

once a year;

lasting a year

basic

(adj.)

having to do with the main or starting point of something.

competition

(n.)

trying to outdo others; a game or contest

contract

(n.)

an agreement or understanding that can be enforced by law; a document tht explains legal conditions

(v.)

to make or grow smaller; to come down with, as a sickness

dismiss

(v.) to send away or permit to leave; to remove from a job; to stop thinking about.

neglect

(v.) to hold back care or attention; to fail to follow through.

(n.) a steady lack of care, often because of carelessness or laziness.

obtain

(v.) to get or gain through some effort

portion

(n.) a section or piece; a part of the whole; a serving of food

recall

(v.) to bring back to mind; to remind one; to ask to return

(n.) the ability or act of remembering

sponsor

(n.) one who helps or takes responsibility for another person or group; a person or business that pays for an ad on radio or television

(v.)  to act as a sponsor to a group, person or event.

stern

(adj.)  not kindly or gentle; harsh-looking.

(n.)  the back end of a boat.

vacant

(adj.)  not used, filled, or lived in; without thought or expression.