A0897A3-65016.pdf

This document is a Final Renewal and Third Amendment of Agreement between the State of Florida, Department of the Lottery, and Machado/García-Serra, LLC, a Florida corporation. The agreement pertains to Spanish Language Hispanic Market Advertising and Related Services, with the original contract dating back to November 8, 2007, and having previously been amended in 2010.

The contract is being renewed for a final one-year term from November 8, 2012, through November 7, 2013. As part of this renewal, the agency has agreed to reduce its compensation rate from 10.185% to 9.167% of the annual budget and commit to reducing production costs for television commercials by at least $100,000. The Lottery is exercising its third and final renewal option, contingent upon the agency's satisfactory performance to date and the agreed-upon cost reductions. Any production cost savings above $100,000 will be equally shared between the agency and the Lottery.