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REV: 04-11-24 VR <br />Project Program and Billing Schedule <br /> <br />Project Program <br /> <br /> <br /> <br /> <br />Key Milestones Dates Invoice % Accumulative % Amount <br />Inception report 16th April 9.6% 10% USD 9,500.00 <br />Completion Concept <br />Phase 13th May 14.3% 25% USD 14,250.00 <br />Completion Design Development <br />phase 15th July 23.9% 50% USD 23,750.00 <br />Completion Production <br />phase 21st October 38.2% 90% USD 38,000.00 <br />Handover and installation 28th October 13.9% 100% USD 13,850.00 <br /> <br /> <br /> USD 99,350.00 <br /> <br />City will pay to Consultant a fixed amount of Ninety-Nine Thousand Three Hundred and <br />Fifty Dollars ($99,350), which will be paid according to the billing schedule described in <br />the above table. <br /> <br />City will provide payment upon the satisfactory completion of each phase described in <br />the Key Milestones table above. While Consultant intends to complete work according <br />to the dates listed, payment will be contingent on the completion of work per milestone <br />and will not automatically be issued on these dates. <br /> <br />ATTY/AGR.2024.048/Formula D_ (Redwood Shores Electronic Interactives) (Page 16 of 41)