CN-360000-A0897-A0897-A1.pdf

This document is a First Amendment to an Agreement for Spanish Language Hispanic Market Advertising and Related Services between the State of Florida, Department of the Lottery, and Machado/García-Serra, LLC, a Florida corporation located in Coral Gables. The original agreement was dated November 8, 2007, and this amendment modifies the compensation terms for the advertising services.

The amendment focuses on updating the compensation structure for the Agency's services, specifically Paragraph 6 regarding payment. The Lottery will compensate the Agency in accordance with Section 4.4 of the RFP, with the annual budget for Spanish Language Hispanic Market advertising to be estimated at the beginning of each fiscal year. An initial estimated annual fee will be determined by multiplying the estimated annual budget by 10.5%, to be paid in twelve equal monthly payments. The amendment includes a detailed reconciliation process to adjust the fee based on actual expenditures, allowing for potential increases or decreases in the budget, with semi-annual reviews and adjustments made accordingly.