83666.00002\34306245.1
AMENDMENT NO. 2
TO THE LEVI’S STADIUM ON-CALL ELECTRICAL MAINTENANCE AND REPAIR
CONTRACT
BETWEEN
THE FORTY NINERS STADIUM MANAGEMENT COMPANY, LLC
AND
BEAR ELECTRICAL SOLUTION, INC.
1. Parties and Date.
T h i s A m e n d m e n t N o . 2 t o t h e L e v i ’ s S t a d i um On-Call Electrical Maintenance and Repair Contract is made and entered into as of th is [***INSERT DAY***] day of April, 2022, by and between the Forty Niners Stadium Management Company, LLC (“Stadium Manager”) and Bear Electrical Solutions, Inc., a California corporation with its principal place of business at 1341 Archer Street, Alviso, CA 95002 (“Contr actor”). Stadium Manager an d Contractor are sometimes individually referred to as “Party” and collectively as “Parties.”
2. Recitals.
2 . 1 C o n t r a c t o r . T h e S t a d i u m M a n a g e r a n d Contractor have entered into an agreement entitled “Levi’s Stadium On-Call Electrical Maintenance and Repair Contract” (“Agreement”) for the purpose of retaining the services of Contractor to provide on-call stadium electrical maintenance and repair work.
2 . 2 A m e n d m e n t P u r p o s e . T h e S t a d i u m M a n ager and Contractor desire to amend the Agreement to increase the not-to-exceed compensation amount.
2 . 3 A m e n d m e n t A u t h o r i t y . T h i s A m e n d m e n t No. 2 is authorized pursuant to Section 3.7.1 of the Agreement.
3. Terms.
3.1 Amendment. Section 3.7.1 of the Agreemen t is hereby amended in its entirety to read as follows:
3.7.1 Amount of Compensation. As cons ideration for performance of the Work required herein, C ontractor shall receive compensation, including authorized reimbursements, for all Work rendered under this Contract at the rates set forth in Exhibit “G” attached hereto and incorporated herein by reference. The maximum compensation for Work to be provided pursuant 83666.00002\34306245.1
to each Task Order shall be set forth in the relevant Task Order. The total compensation to be provided under th is Contract by Stadium Manager to Contract, in the aggregate, shall not exceed Five Hundred Thousand Dollars ($500,000) for the first year of the C ontract term, Six Hundred Seventy Thousand Dollars ($670,000) for the second year of the Contract term, and Two Hundred Fifty Thousand Dollars ($250,000) for each subsequent contract year without written approval of the Stadium Manager. The term for subsequent fiscal years shall be conditioned upon approval of the Stadium Authority budget for the applicab le fiscal year that includes the amounts due under this Contract.
3 . 2 C o n t i n u i n g E f f e c t o f A g r e e m e n t . E x c e pt as amended by this Amendment No. 2, all other provisions of the Agreement remain in full force and effect and shall govern the actions of the parties under this Amendment No. 2. From and after the date of this Amendment No. 2, whenever the term “Agreement” appears in the Agreement, it shall mean the Agreement as amended by Amendment No. 1 and this Amendment No. 2.
3.3 Adequate Consideration. The Parties here to irrevocably stipulate and agree that they have each received adequate and independent consideration for the performance of the obligations they have undertaken pursuant to this Amendment No. 2.
3.4 Severability. If any portion of this Amen dment No. 2 is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect.
[Signatures on Next Page]
83666.00002\34306245.1
SIGNATURE PAGE FOR AMENDMENT NO. 2 TO LEVI’S STADIUM ON-CALL
ELECTRICAL MAINTENANCE AND REPAIR CONTRACT
BETWEEN THE FORTY NINERS STADIUM MANAGEMENT COMPANY, LLC AND BEAR ELECTRICAL SOLUTION, INC.
FORTY NINERS STADIUM
MANAGEMENT COMPANY, LLC
Approved By:
Jim Mercurio
Executive Vice President &
General Manager
Date
BEAR ELECTRICAL SOLUTION, INC.
Signature
Name
Title
Date
Andrew Bader
CFO
04.05.2022