Simplify the following text for a Grade 11 native English-speaking person.
Original: On November 27 , 2009 , Quebec 's officials and Canadian Grand Prix organisers announced a settlement with Formula One Administration and signed a new five-year contract spanning the 2010-2014 seasons .
Simplified: On 27 November 2009 , Quebec 's officials and Canadian Grand Prix organisers announced an aggrement with Formula One and signed a new five-year contract .