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17. Key personnel is designated as William Euphrat. <br />18. Consultant shall charge the City a "time -and -material" fee for the Services <br />completed in this Agreement at the hourly rate of Three Hundred Dollars ($300) <br />and materials at cost. <br />19. DECLARATION REGARDING WORKERS' COMPENSATION INSURANCE: <br />Consultant certifies that it has only one employee, that such employee is a director <br />of the firm and owns 100% of its stock and that such employee has elected not to <br />be covered by workers' compensation insurance in accordance with an exception <br />to the requirement of workers' compensation insurance coverage as provided for <br />under Section 3351 (c) of the California Labor Code. Consultant agrees to <br />purchase workers' compensation insurance if it retains any additional employees <br />during the term of this agreement. <br />REV: 12-10-2020 EI <br />ATTY/AGR.2020.292/William Euphrat Municipal Finance, Inc. (Page 12 of 16) <br />