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PROFESSIONAL SERVICES AGREEMENT <br />THIS AGREEMENT is entered into this 1st day of July 2024, between the CITY OF <br />PLEASANTON, a municipal corporation ("City"), and Chandler Asset Management, Inc. whose <br />address is 1901 Harrison Street, Suite 1100, Oakland, CA 94612, and telephone number is (858) <br />768-3150, ("Consultant"). <br />RECITALS <br />A. Consultant is qualified and experienced in providing auditing services for the <br />purposes specified in this Agreement. <br />B. City finds it necessary and advisable to use the services of Consultant for the <br />purposes provided in this Agreement. <br />NOW THEREFORE, in consideration of the mutual covenants and conditions in this <br />Agreement, City and Consultant agree as follows: <br />1.Consultant's Services. Consultant shall diligently perform the services and <br />furnish the reports described in the Request for Proposals for Investment Management and <br />Advisory Services (Issue Date: August 1, 2023) attached as Exhibit "A", Scope of Work, <br />incorporated to the extent consistent with this Agreement. <br />2.City Assistance. In order to assist Consultant in this work, City shall provide, if <br />necessary, the Assistance to Be Provided by the City as described in Exhibit A. <br />3.Staff. Consultant shall assign Carlos Oblites to serve as the Senior Portfolio <br />Strategist and Aniel Murthy to serve as the Senior Relationship Manager, both of whom may not <br />be replaced without written consent of City. <br />4.Term. This contract shall commence on the date written above and continue for <br />three years with an option to extend the contract for an additional two years for a total of five <br />years. The work as described in Exhibit "A", Scope of Work, shall be completed by June 30, 2027 <br />or by June 30, 2029 if extended for an additional two years. <br />5.Compensation. For the services to be rendered, City shall pay Consultant up to <br />$218,000 across three (3) fiscal years, as described more particularly in Exhibit "A", which is <br />attached and incorporated to the extent consistent with this Agreement. Payment shall be made <br />on a monthly basis upon receipt and approval of Consultant's invoice. <br />a. Invoices submitted to City must contain a brief description of work <br />performed, percentage of work completed, percentage of contract time used, percentage of <br />contract amount expended. Payment shall be made within thirty (30) days of receipt of <br />Consultant's invoice. <br />b. Upon completion of work and acceptance by City, Consultant shall have <br />sixty (60) days in which to submit final invoicing for payment. An extension may be granted by <br />City upon receiving a written request thirty (30) days in advance of said time limitation. The City <br />Attachment 1 <br />Page 64 of 248