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SUBSIDY PROGRAM AGREEMENT <br /> This Subsidy Program Agreement ("Agreement") is made and entered into as of the last <br /> signature date set forth below, by and between the City of Rancho Palos Verdes, a California <br /> municipal corporation ("City") and Ring LLC, a Delaware limited liability company ("Ring"). <br /> City and Ring are sometimes hereinafter individually referred to as "Party" and hereinafter <br /> collectively referred to as the "Parties." <br /> RECITALS <br /> WHEREAS, Ring produces security cameras, video doorbells and alarm systems for <br /> residential use which link smartphone users to their devices. <br /> WHEREAS, with this technology, the homeowner has the capability to see, hear and <br /> speak to visitors through their smartphones,tablets or desktops. <br /> WHEREAS, the City desires to collaborate with Ring to establish a subsidy program <br /> whereby City residents can purchase Ring's security cameras, video doorbells and alarm systems <br /> for use at residences within the City at a discounted price to enhance security and safety in the <br /> community. <br /> WHEREAS, the subsidy program will be operated on a first-come-first-served basis. <br /> WHEREAS, the subsidy program will be administered separate and apart from any other <br /> program or agreement between Ring and the City (or any agency or subdivision thereof), <br /> including, without limitation, any law enforcement agency's participation in Ring's Neighbors <br /> application. <br /> WHEREAS, the City finds that the dedication of public funds under this Agreement will <br /> serve the safety of City residents, an issue of important public purpose. <br /> OPERATIVE PROVISIONS <br /> NOW, THEREFORE, in consideration of the mutual promises and covenants made <br /> by the Parties and contained herein and other consideration, the value and adequacy of <br /> which are hereby acknowledged,the Parties agree as follows: <br /> 1. Recitals are Part of Agreement. The preceding Recitals are part of this <br /> Agreement. <br /> 2. Ring Obligations. Ring agrees to do the following in furtherance of this <br /> Agreement: <br /> a. Ring will collaborate with the City on the distribution and marketing of <br /> the Ring Door View Cam, Ring Video Doorbell 2, Ring Video Doorbell <br /> Pro, Ring Spotlight Cam Wired, Ring Spotlight Cam Battery, Ring <br /> 01203.0001/575546.1 Page 1 of 6 <br />