Laserfiche WebLink
B. For the time period from July 1, 2021 to June 30, 2022, Contractor <br />hereby agrees to pay to Everett Transit a non-refundable payment of <br />$71,250, which is due July 30, 2021. In addition to the non-refundable <br />payment, Contractor will pay Everett Transit fifty-five percent (55%) <br />of all net revenue for time period that exceeds $129,545. For <br />example, if the net revenue during July 1, 2021 to June 30, 2022 is <br />$200,000, then the City would receive an additional $38,750, which <br />is equal to ($200,000-$129,545) X 55%. Contractor will make this <br />additional payment no later than July 20, 2022. <br />C. For the time period from July 1, 2022 to June 30, 2023, Contractor <br />hereby agrees to pay to Everett Transit a non-refundable payment of <br />$95,000, which is due July 30, 2022 In addition to the non-refundable <br />payment, Contractor will pay Everett Transit fifty-five percent (55%) <br />of all net revenue during such time period that exceeds $172,727 <br />For example, if the net revenue during July 1, 2022 to June 30, 2023 is <br />$200,000 then the City would receive an additional $15,000, which <br />is equal to ($200,000-$172,727) X 55% Contractor will make this <br />additional payment no later than July 20, 2023. Contractor's <br />obligation to make such final payment survives expiration of this <br />Agreement. <br />Net revenue is defined as the gross sales less any recognized advertising <br />agency commission. Within twenty (20) days after the end of each <br />calendar month CONTRACTOR shall send to Everett Transit a statement <br />of the gross billings, calculation of net revenue, and collections for such <br />month, including a statement of the size and type of display contracted for <br />by each advertiser and other information as may reasonably be requested <br />by Everett Transit. <br />2. The Agreement is modified so that it expires on June 30, 2023. <br />3. All provisions in the Agreement shall remain in effect except as expressly <br />modified by this Amendment. <br />CITY OF EVE ". TT L A x AR T ; SIT, LLC <br />WASHINGTON <br />Signature: <br />By:Typed/Printed me: <br />Cassie Franklin, Mayor Title: t��(R� <br />Date Date <br />2 <br />