ASSOCIATION OF ALBERTA MUNICIPALITIES

Notes to the Consolidated Financial Statements

Year ended December 31, 2022

22. Related party transactions (continued):

The following transactions with the related parties occurred during the year ended December 31:

These transactions are in the normal course of operations and are measured at the exchange amount, which is the amount of consideration established and agreed to by the related parties.

23 Commitments:

ABmunis has an agreement for property management services with a third party for the AMP property. The agreement requires payments of the greater of 4% of the gross receipts from the AMP property or $4,000 per month. The agreement continues from year to year unless either party delivers 60 days notice.

ABmunis has an agreement with a third party to maintain and operate an energy retailing system that commenced January 1, 2019 and expires on December 31, 2023. The agreement will average $50,000 per month, with a minimum monthly fee of $25,000.

ABmunis has entered into a licensing agreement for group benefits plan administration software, expiring October 1, 2026. The minimum monthly licensing commitment under this agreement is $36,900.

ABmunis has entered into a licensing agreement for general insurance administration software, expiring October 22, 2023, and the maximum annual commitment is $258,000 U.S. dollars.

ABmunis has entered into an agreement for consulting services relating to its group benefits plan. This agreement has no expiry term, and the maximum annual commitment is $200,000.

ABmunis has entered into an agreement for insurance brokerage services for its general insurance program. The agreement expires on October 31, 2023 and the maximum annual commitment is $275,000.