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��l��ll <br /> AGREEMENT FOR WORKERS' COMPENSATION CLAIMS <br /> ADMINISTRATION SERVICE <br /> This Agreement is entered into this 1� day of October 2004, between Claims Management, Inc. (hereinafter <br /> called "CMI"), and the City of Redwood City. (hereinafter called "Client"). <br /> The parties agree to the following: <br /> I. TERM <br /> The period of this Agreement shall be from 10/O1/2004 through 06/30/2005. <br /> II. CONSIDERATION <br /> A. The CMI fee is $135,000 payable in monthly installments of $15,000 due on the first of each <br /> month. <br /> B. At the end of the contract period, an audit may be conducted at City's expense to determine if <br /> any penalty is payable and to what amount based on the Performance Based Compensation <br /> schedule attached as Exhibit B. <br /> C. In the event of a significant change in exposure base, misrepresentation, or legislative changes, <br /> the parties reserve the right to renegotiate the fee schedule. <br /> III. RENEWAL OF AGREEMENT <br /> A. After the initial contract, this Agreement may be renewed from year to yeaz provided that any <br /> proposed revision in the Agreement by either party be submitted in writing no later than 90 <br /> days preceding the expiration of the contract. <br /> IV. TERMIlVATION OF AGREEMENT <br /> A. Either party may terminate the Agreement by submitting to the other party, in writing, its intent <br /> to terminate at least 90 days prior to the date of termination. <br /> B. All claim files are the property of the Client and will be made available to the Client. If the <br /> Client requests claims computer data, there will be a one time charge of $500 per tape or other <br /> media. Any custom downloads of data or reformatting of claims data will be charged at a rate <br /> of $185 per hour. Vendor data is the property of CNII. <br /> Redwood Ciry 2004-2005\wordlcmibontractsUk Page 1 of 6 09/08/04 <br />