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s "§4.07 Operational Cost Compensation (a) In consideration of Corporation's services in operating the museum on the Premises pursuant to this Agreement, City agrees to provide funding annually to Corporation to assist in defraying Corporation's operational costs during the Term. The amount of such funding shall be determined each fiscal year by the City Council in accordance with the formulas set forth hereinbelow. During the first ten (10) fiscal years of the Term (commencing with fiscal year 1987-88) such amount shall not be less than that amount which, when added to the City's cost of providing City personnel pursuant to sections 6.01 and 6.02, equals the amount of the approved budget for the "O.C. Bowers Museum District" in the City's 1986-87 annual general fund budget as adjusted each fiscal year by the Cost of Living Adjustment (the "Operational Cost Compensation"). During the next fifteen (15) fiscal years of the Tenn, the Operational Cost Compensation shall be equal to the Tenth Year Base Amount adjusted downward in each successive fiscal year by ten percent (101/o) of the Tenth Year Base Amount (the "Annual Compensation Adjustment"). Notwithstanding the foregoing, the Annual Compensation Adjustment shall not be applied to the Operational Cost Compensation for the five (5) fiscal years 1999-2000 through 2003-2004, and instead the Operational Cost Compensation for those fiscal years shall remain the same as the Operational Cost Compensation for Fiscal Year 1998-1999. Thereafter, the Operational Cost Compensation shall continue to be reduced in accordance with the Annual Compensation Adjustment. (b) As used herein "Tenth Year Base Amount" means the minimum required City funding in the tenth fiscal year of the Term. In each fiscal year, once the amount of the Operational Cost Compensation has been determined by the City Council, it shall be paid to Corporation in equal monthly installments, unless an alternative manner of payment is mutually agreed upon by the City Manager and the Museum Director." 3. Effect of Amendment Except as necessary to implement the intent of this Amendment, the Agreement shall remain in full force and effect. 4. Non -waiver Execution of this Amendment shall not be construed to act as a waiver by either party hereto of any claims a party may have against the other, except to the extent directly affected by the terms of this Amendment. IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written. c:\x1NWNs\rEMF\eoWexa xaw9emenc Agreement 1999 Amminmc--cle..aoc