AgdaPkt 2005-06-13 - Laserfiche WebLink

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$./¿ ð AGREEMENT FOR WORKERS' COMPENSATION CLAIM~ ADMINISTRATION SERVICE This Agreement is entered into this 1st day of July 2005, between Claims Management, Inc. (hereinafter called "CM'"), and the City of Redwood City. (hereinafter called "Client"). The parties agree to the following: I. TERM The period of this Agreement shall be from 07/01/2005 through 06/30/2006. II. CONSIDERATION A. The CMI fee is $160,000 payable in monthly installments of $13,333.33 due on the first of each month. In addition, at the end of the contract period a bonus of up to $20,000 may be earned and based on the incentive Performance Based Compensation schedule attached as exhibit B. B. At the end of the contract period an audit may be conducted at the Client's expense to determine if any Performance Based Compensation ;s payable. C. In the event of a significant change in exposure base, misrepresentation, or legislative changes, the parties reserve the right to renegotiate the fee schedule. III. RENEWAL OF AGREEMENT A. After the initial contract, this Agreement may be renewed from year to year provided that any proposed revision in the Agreement by either party is submitted in writing no later than 90 days preceding the expiration of the contract. IV. TERMINATION OF AGREEMENT A. Either party may terminate the Agreement by submitting to the other party, in writing, its intent to terminate at least 90 days prior to the date of termination. B. All claim files are the property of the Client and will be made available to the Client. If the Client requests claims computer data, there will be a one time charge of $500 per tape or other media. Any custom downloads of data or reformatting of claims data will be charged at a rate of $185 per hour. Vendor data is the property of CMI. Redwood City 2004-2()()5\wonkmi~ontr3cts\lk Page I of6 OS/24105