If the commissioner approves an application and proposed project plan under AS 43.82.140, the commissioner may develop a contract that may include

1. (1) terms concerning periodic payment in lieu of one or more taxes as provided in AS 43.82.210;

2. (2) terms developed under AS 43.82.220 relating to

   1. (A) timing and notice of the state's right to take royalty in kind or in value; and
   2. (B) royalty value;
3. (3) terms regarding the hiring of Alaska residents and contracting with Alaska businesses under AS 43.82.230;
4. (4) terms regarding periodic payment to, or an equity or other interest in a project for, municipalities under AS 43.82.500;
5. (5) terms regarding arbitration or alternative dispute resolution procedures;
6. (6) terms and conditions for administrative termination of a contract under AS 43.82.445; and

7. (7) other terms or conditions that are

   1. (A) necessary to further the purposes of this chapter; or
   2. (B) in the best interests of the state.