AMENDMENT NO. 1 TO THE SERVICES AGREEMENT BETWEEN THE CITY OF VERNON AND STONEX FINANCIAL, INC. FOR ENERGY RISK MANAGEMENT
SERVICES
This Amendment No. 1 (Amendment) to the Agreement for energy risk management services dated November 7, 2023, (Agreement), is made as of October 7, 2025, by and between the City of Vernon, a California charter City and California municipal corporation (City), and StoneX Financial, Inc. – FCM Division, (Contractor), a Florida corporation.
The City and Contractor agree as follows:
RECITALS
A. The City and Contractor are parties to a written Agreement dated November 7, 2023, under which Contractor provides energy risk management services.
B. The City and Contractor desire to amend the Agreement to include the scope of work for Commodity Indicator, HedgeMonitor Pro, and Forecast Tool, improving the reliability of Vernon Public Utilities' hedging and procurement strategies, effective October 7, 2025, for a total amount not to exceed $21,000. A copy of Contractor’s correspondence dated August 2025, is attached hereto as Exhibit A.
NOW, THEREFORE, the parties to this Amendment agree as follows:
1. Effective October 7, 2025, the Agreement has been amended to include the additional scope of work attached as Exhibit A.
2. Contractor’s grand total consideration from November 7, 2023, to November 6, 2026, shall not exceed the total amount of two hundred one thousand dollars ($201,000), without prior City Council approval and written amendment of the Agreement.
3. Except as expressly modified by this Amendment, all provisions of the Agreement shall remain in full force and effect.
4. The provisions of this Amendment shall constitute the entire agreement of the parties with respect to the subject matter included in this Amendment and shall supersede any other agreement, understanding, or arrangement, whether written or oral, between the parties with respect to the subject matter of this Amendment.
5. The person or persons executing this Amendment on behalf of each of the parties warrants and represents that he or she has the authority to execute this Amendment on behalf of that party and has the authority to bind that party to the performance of its obligations hereunder.
[Signatures Begin on Next Page].
StoneX Financial, Inc.
Amendment No. 1
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IN WITNESS WHEREOF, the parties have executed this Amendment as of the date stated in the introductory clause.
City of Vernon, a California Charter City and
California municipal corporation
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Brian Saeki, City Administrator
ATTEST:
________________________________
Genoveva Rocha, City Clerk
APPROVED AS TO FORM:
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Zaynah N. Moussa, City Attorney
StoneX Financial, Inc. – FCM Division, a
Florida corporation
By:
Name:
Title:
By:
Name:
Title:
StoneX Plus Energy Analytics Services
August 2025
NASDAQ: SNEX
www.StoneX.com
StoneX Financial, Inc.
Amendment No. 1
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EXHIBIT A
StoneX Financial Inc. - FCM Division Page 2 of 3 August 2025 StoneX Financial, Inc.
Amendment No. 1
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StoneX Financial Inc. - FCM Division Page 3 of 3 August 2025 •
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StoneX Financial, Inc.
Amendment No. 1
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