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NPS-2.1 (4.22) 4.2 The term of this Agreement shall be for a period of one (1) year from the Effective Date of this Agreement (the "Initial Term"). The City shall have the option to extend the Initial Term of this Agreement by two (2) additional one-year terms (each, an "Extended Term"), on the same terms and conditions, by providing written notice to Contractor at least thirty (30) days prior to the expiration of the Initial Term or any Extended Term. The Initial Term and the Extended Terms are hereby collectively, referred to herein as the "Term" of this Agreement. 4.3 If Contractor's Services include deliverable electronic visual presentation materials, such materials shall be delivered in a form, and made available to City, consistent with City Council -adopted policy for the same. It shall be the obligation of Contractor to obtain a copy of such policy from City staff. ARTICLE 5 — PAYMENTS TO CONTRACTOR 5.1 The compensation for Contractor's performance of the Services shall not exceed the amount of six hundred twenty-four thousand three hundred forty-six dollars ($624,346) for the Services provided during the Initial Term. Should this Agreement be renewed, the compensation for Contractor's performance for the Services shall not exceed the amount of six hundred eighty-five thousand seven hundred ninety dollars ($685,790) for the first Extended Term; and seven hundred forty-seven thousand five hundred twenty-three dollars ($747,523) for the second Extended Term, bringing the total possible amount of compensation to a not -to -exceed amount of two million fifty-seven thousand six hundred fifty-nine dollars ($2,057,659). For the Initial Term and each Extended Term, City shall pay Contractor on a price per ton basis up to the not to not -to -exceed amount in accordance with the rates specified in Exhibit "B," titled "Price Sheet," which is attached hereto and incorporated herein by reference. 5.2 Contractor shall submit monthly invoices to City describing the Services performed during the preceding month. Contractor's invoices shall include a brief description of the Services performed, the dates the Services were performed, the number of hours spent and by whom. City shall pay Contractor no later than thirty (30) days after receipt and approval by City of Contractor's invoice. 5.3 Any notice or other communication required, or which may be given, pursuant to this Agreement, shall be in writing. Any such notice shall be deemed delivered (i) on the date of delivery in person; (ii) five (5) days after deposit in first class registered mail, with return receipt requested; (iii) on the actual delivery date if deposited with an overnight courier; or (iv) on the date sent by facsimile or electronic mail transmission (including PDF), if confirmed with a copy sent contemporaneously by first class, certified, registered or express mail; in each case properly posted and fully prepaid to the appropriate address set forth below, or such other address as a Party may provide notice in accordance with this section: 2 I:\cmo\Agreements\Burrtec Waste Industries, Inc. Agreement FY23-0001v2.docx-jmv2