Opening of Bids - 6000 More or Less, Universal Nestable Refuse and Yard Waste Containers - Best Equipment Co., Inc.

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FFF Toter LLC's Price Adjustments Procedure — Toter, LLC agrees to hold pricing three (3) months for the South Bend, IN "Bid for Six Thousand (6,000) More or Less Universal/ Nestable Refuse and Yard Waste Containers" so that Toter, LLC's pricing to Best Equipment is valid through April 10, 2023, then reviewed every three (3) months thereafter during the contract and contract renewals/extensions. Resin Adjustments* Resin cost adjustment will be based on Plastics News* resin index for LLDPE - Butene-1 comonomer Extrusion liner film, Annual volumes greater than 20 million pounds (Average index value column). The index value at the time of the initial three (3) months' review will be adjusted against the index value at the time of the RFQ Closing Date. Every three (3) months thereafter, the previous index value will be adjusted against the then current index value. If the index value has changed from the prior review's index value, Toter will adjust the corresponding cart/plastic part price using the resin weight of the cart/plastic part. See below for a sample adjustment calculation. Price Adjustment Calculation (start pricing is fictional for example): ✓ Current Index Value — Prior Index Value = Index Value Change Per Pound ✓ Index Value Change Per Pound x Resin Weight = Index Value Change ✓ Previous Cart Price + Index Value Change = Adjusted Cart Price Example of RESIN Cost Adjustment Calculation Every Three- (3) Months 7/ 10/1/2017 index Cart Price 7/1/2017 Current Value 10/1/2017 CART Index Index Weight in Change At Cart Price Index Change Per Cart Price Value Pounds 10/1/2017 Value Pound (Increase) $52.00 $0.80 $0.85 $0.05 40 $ 2.00 $54.00 (Decrease) $52.00 $0.80 $0.75 -$0.05 40 $ (2.00). $50,00 *Please Note: Resin indices infrequently present a "Non -Market Adjustment (NMA)" anomaly, which does not represent a market price change. Since the NMA Is an outlier to market costs of resin, the amount of the NMA will only stimulate a realignment of the index values (to a new range for price basis comparisons) and is not to be directly applied as an Increase of resin costs for adjustments. (Far example, a NMA of 10 cents/pound Increase announced by the index will only cause a realignment of the Index to a new price basis but will not cause Toter to Increase pricing by 10 cents/pound.) Freight Adjustments Freight cost adjustment will be based on DAT Freight & Analytics, Dry Van, National Spot Average The index value at the time of the initial three (3) months' review will be adjusted against the index value at the time of the RFQ Closing Date. Every three (3) months thereafter, the previous index value will be adjusted against the then current index value. If the index value has changed from the prior review's index value, Toter will adjust the corresponding freight prices using the percentage of index change. See below for a sample adjustment calculation. Price Adjustment Calculation (start pricing is fictional for example): ✓ Current Index Value —Prior Index Value = Index Value Change ✓ (Index Value Change / Prior Index Value) X 100 = Index Value Percentage Change ✓ (Calculate Percentage Change) ✓ Previous Freight Price + Index Value Change = Adjusted Freight Price Example of FREIGHT Cost Adjustment Calculation Every Three (3) Months 7/1/2017 7/1/2017 10/1/2017 Index Index Price 10/1/2017 FREIGHT Freight Index current Value Value Change At Freight index Change At Price Value Change 10/1/2017 Price Value 10/1/2017 (Increase) $3.35 $2.22 $2.37 $0.15 6.8% $0.23 $3.58 (Decrease) $3.35 $2.37 $2.22 -$0.15 -6.3% ($0.21) $3.14