Exhibit E _Scope of Work.pdf

Exhibit E - Scope of Work Fuel Hedging Consulting Services for Washington State Ferries (WSF)

1. Introduction or Purpose

The WSF Fuel Hedging Program utilizes a Contractor to provide a Fuel Hedging Program Advisor/ Qualified Independent Representative for guidance and recommendations to the WSF program, reduce WSF exposure to fuel price volatility, achieve a lower overall cost of fuel in the long-term, advise the WSF on entering into and executing distributor-controlled fuel hedges on behalf of WSDOT / WSF.

The Washington State Ferries (WSF) Division of the Washington State Department of Transportation (WSDOT) consumes 19 million gallons of fuel per year with twenty-two ferry vessels traveling on ten ferry routes throughout the Puget Sound, the San Juan Islands, and Vancouver Island, Canada. Since 2011, WSF has participated in a distributor-controlled fuel hedging program, in an effort to reduce the Division’s exposure to fuel price volatility. WSF’s fuel budget varies based on market conditions for price but is approximately $35 M per year.

2. Scope of Work and Deliverables

Contractor shall provide Services and staff, and otherwise do all things necessary for or incidental to the performance of work, as set forth below:

Recommending an execution strategy for the Fuel Hedging Program;

Generating monthly reports on the Program’s status and results;

Monitoring the Program and energy markets;

Being available to enter into fuel hedge contracts, when necessary;

Attending quarterly meeting of the Fuel Hedging Oversight Committee and visiting WSF administrative offices on occasion;

Meet the requirements of a Qualified Independent Representative, so that they can enter into fuel hedging contracts;

Assist WSF to compile yearly reports required under RCW 35.58.262; and Performing other work related to the effective performance of the program, as needed.

3. Vendor Staff, Roles and Responsibilities

NAME, TITLE of Contractor, will be responsible for all work and deliverables detailed in Section 2 (“Scope of Work and Deliverables”) of this SOW.

4. Purchaser Staff, Roles and Responsibilities

WSF Fuel Specialist, will be the primary point of contact for the Vendor. The WSF Fuel Specialist will liaise with the Vendor to assist in executing the strategy for the Fuel Hedging Program; coordinate quarterly meetings for the Fuel Hedging Oversight Committee; and perform other tasks supporting the Vendor and Fuel Hedging Program, as necessary.

WSF Operating Program Manager, will supervise the work of the WSF Fuel Specialist; liaise with the vendor to assist in executing the strategy for the Fuel Hedging Program; support WSF executive staff; and perform other tasks supporting the Fuel Hedging Program, as necessary.

WSF Director of Finance and Administration, will oversee the work of WSF Fuel Specialist and WSF Operating Program Manager; present hedge recommendations to the Fuel Hedging Oversight Committee based on the execution strategy put forward by the Vendor and supported by WSF staff; and give the Vendor permission to enter into distributor controlled fuel hedges.

5. Additional Terms and Conditions Specific to this SOW

N/A.