Unfortunately, it appears that you are being ripped off by the local reseller. Seek other reseller sources that can help you as I'm sure there are plenty of competitors who will give you a fair rate.
Again, $69.00 is the MSRP (List) price for 1-year of this (yes, it is called "Technical Support Service")
The "GE6300" designates the service type.
the "818" here specifies the Baystack 450 product that you need covered.
I hope this helps.