Good deal! Nice to see such an achievement and an acknowledgement that, no matter what you constantly hear about today's youth being unsavory, the vast majority of them are, in fact, quite good kids and far more intelligent than we were at their age. Me, at least, for sure......
I had to laugh because the first thing I thought of when I heard your verbal contract would be my parents saying, "I don't care what kind of deal he made with you. You are NOT taking that money!"
Oh well, grandparents trump parents, eh? You are to be commended for showing such interest and pride in his achievements. Well done, both of you!