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Premier Golf Management 3/8/2019 Amendment 4
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Premier Golf Management 3/8/2019 Amendment 4
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Entry Properties
Last modified
3/14/2019 9:23:36 AM
Creation date
3/14/2019 9:23:35 AM
Metadata
Fields
Template:
Contracts
Contractor's Name
Premier Golf Management
Approval Date
3/8/2019
Council Approval Date
3/6/2019
End Date
12/31/2021
Department
Parks
Department Project Manager
Lori Cummings
Subject / Project Title
Golf Course Management
Amendment/Change Order
Amendment
Amendment/Change Order Number
4
Total Compensation
$0.00
Contract Type
Agreement
Contract Subtype
Professional Services
Retention Period
6 Years Then Destroy
Document Relationships
Arlington
(Amendment)
Path:
\Documents\City Clerk\Contracts\Agreement\Purchasing Cooperative Interlocal
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EXHIBIT A <br /> CHANGES TO SCOPE OF WORK <br /> Attachment 1, Section J of the Scope of Work is amended as follows: <br /> 1. 'fable 1 is amended to add columns for 2020 and 2021: <br /> Minimum Threshold Amount(in millions) <br /> 2020 2021 <br /> 2.375 2.40 <br /> Table 1 <br /> 2. Table 2 is amended to add columns for 2020 and 2021: <br /> Incentive Structure <br /> ' Category Incentive % 2020 2021 <br /> Gross Profit Gross Profit in <br /> in Millions Millions <br /> 1 10 2.375-2.425 2.40-2.45 <br /> 2 12 2.425-2.475 2.45-2.50 <br /> 3 14 2.475-2.525 2.50-2.55 <br /> 4 16 2.525-2.575 2.55-2.60 <br /> 5 18 2.575-2.625 2.60-2.65 <br /> 6 20 2.625+ 2.65+ <br /> Table 2 <br /> 3. For 2020 and 2021, subsections f and g are amended to read as follows: <br /> f. For the year 2020,the minimum threshold for gross operating profit to <br /> earn an incentive payment is $2.375 million($2,375,000.00). For 2021, <br /> this rises to $2.40 million. <br /> g. The percentage incentive payment to the Contractor increases based upon the <br /> gross operating profit range. For example, if in calendar year 2020,the gross operating <br /> profit is two million five hundred thousand dollars ($2,500,000)the incentive payment to <br /> the Contractor would be fourteen thousand five hundred dollars ($14,500)based on the <br /> following: <br /> Gross Profit—Threshold=Amount used to $2,500,000 -$2,375,000=$125,000 <br /> calculate incentive payment <br /> Category 1 Incentive $50,000 x 10%=$5000 <br /> Category 2 Incentive $50,000 x 12%=$6000 <br /> Category 3 Incentive $25,000 x 14%=$3500 <br /> Total Incentive Payment $14,500 <br /> 4 <br />
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