Agmt25 US Bancorp Asset Management, Inc_Amendment No.2

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REV: 09-02-25 MI AMENDMENT NO. 2 TO AGREEMENT FOR SERVICES U.S. Bancorp Asset Management, Inc. This Amendment No. 2 (the “Amendment No. 2”) is entered into and effective as of __________________, 2025 by and between the City of Redwood City, a charter city and municipal corporation of the State of California (“City”), and U.S. Bancorp Asset Management, Inc., a Delaware corporation (“Consultant”) (collectively, the “Parties”). RECITALS A. The City and PFM Asset Management LLC previously executed that certain Agreement for Services, dated as of November 10, 2021 (the “Original Agreement”). B. The City consented to the assignment of the Original Agreement to Consultant. C. The Parties previously executed Amendment No. 1 to the Original Agreement, dated as of November 27, 2024 (“Amendment No. 1”) (the Original Agreement and Amendment No. 1 are collectively known as the “Agreement”). D. The Parties have negotiated and agreed to the terms and conditions set forth in this Amendment No. 2. NOW, THEREFORE, in consideration of these recitals and the mutual covenants contained herein, the Parties agree as follows: 1. City will pay Consultant an annual fee up to the amount of One Hundred Thirty- Five Thousand Dollars ($135,000) for the completion of all the services described in Exhibit “A” of Amendment No. 1, which sum will include all costs or expenses incurred by Consultant. Including all amendments through Amendment No. 2, the total amount payable under the Agreement will be an amount of Six Hundred Thirty Thousand Dollars ($630,000). 2. The term of the Agreement is hereby extended for an additional One Year period. Including all extensions through this Amendment No. 2, the total term of the Agreement is five years, expiring on November 9, 2026. 3. All other provisions of the Agreement will remain in full force and effect. 4. All requisite insurance policies to be maintained by Consultant pursuant to the Agreement will include coverage for this Amendment No. 2. 5. The individuals executing this Amendment No. 2 and the instruments referenced in it on behalf of Consultant each represent and warrant that they have the legal power, right and actual authority to bind Consultant to the terms and conditions of this Amendment No. 2. ATTY/AGR.2025/Amend.No.2/US Bancorp Asset Management Inc. (Investment Advisory Services) (Page 1 of 3) September 25