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Third Extension and Amendment <br />Of <br />Operator Agreement between <br />The City of Pleasanton and Pleasanton Golf, LLC <br />This Extension and Amendment of Operator Agreement between the City of Pleasanton and <br />Pleasanton Golf, LLC ("Extension Agreement") is entered into this 20th day of December 2024, by <br />and between the City of Pleasanton ("CITY"), a municipal corporation, and Pleasanton Golf, LLC, <br />a California limited liability company ("OPERATOR"). <br />RECITALS <br />1.On or about June 1, 2010, CITY and OPERATOR entered into Operator Agreement between <br />The City of Pleasanton and Pleasanton Golf, LLC ("Operator Agreement"). <br />2.On or about April 21, 2015, CITY and OPERATOR entered into a First Extension and <br />Amendment of the Operator Agreement extending it until June 30, 2020. <br />3.On or about January 06, 2021, CITY and OPERATOR entered into a Second Extension and <br />Amendment of the Operator Agreement extending it until June 30, 2020. <br />4.CITY and OPERATOR now desire to amend certain provisions and to extend the term of the <br />Operator Agreement in accordance with the terms and provisions set forth in this Extension <br />Agreement. <br />NOW, THEREFORE, in consideration for the mutual promises hereinafter set forth, the <br />parties hereto agree to amend the Operator Agreement as follows: <br />1.TERM AND EFFECTIVE DATE. <br />The term in Section 2.01 of the Operator Agreement as amended and extended by this <br />Extension Agreement shall end on June 30, 2028, unless otherwise terminated or cancelled <br />pursuant to Section 12.02.2 of the Operator Agreement. The Effective Date of this Extension <br />Agreement shall be July 1, 2025. <br />The City may extend this agreement for an additional two-year period by giving written <br />notice no sooner than 12 months and no later than 6 months prior to the expiration of the <br />current term and the subsequent extension. <br />2.MANAGEMENT AND INCENTIVE FEES TO OPERATOR. <br />Commencing on and effective as of July 1, 2025, Sections 8.03 and 8.04 of the Operator Agreement <br />shall be amended and restated in their entirety as follows: <br />8.03 Fixed Management Fee. <br />8.03.01 Annual Fixed Management Fee. The annual fixed management fee to be paid to <br />OPERATOR ("Fixed Management Fee") shall represent 80% of the Total Management Fee Attainable as <br />follows: <br />Docusign Envelope ID: 4B46EC68-D08F-48D9-8216-B13D1BA06454