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For Contract Year 1: $95,000,which is due July 1,2018 <br /> For Contract Year 2: $95,000,which is due June 1,2019 <br /> For Contract Year 3: $95,000,which is due June 1,2020 <br /> For Contract Year 4: $95,000,which is due June 1,2021 <br /> For Contract Year 5:$95,000.which is due June 1.2022 <br /> . ... <br /> In addition to the annual non-refundable payment amounts above, <br /> Contractor will pay Everett Transit fifty-five (55%) of all Contract Year <br /> net revenue that exceeds $172,727.27. For example, if the net revenue for <br /> a Contract Year is $200,000, then the City would receive an additional <br /> $15,000, which is equal to ($200,000-$172,727.27) X 55%. Contractor <br /> will make this additional payment no later than 20 days after the end of <br /> each Contract Year. <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. _e '-• _ e • . _ _ _• . <br /> 3. Section 4 of the Agreement is amended to add the following: "J. <br /> Marijuana Advertising." <br /> 4. All provisions in the Agreement shall remain in effect except as expressly <br /> modified by this Amendment. <br /> 2 <br /> ; i <br />