Agmt12 South Bayside System Authority AKA Silicon Valley Clean Water - for Finance and IT Services

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increased by one hundred percent (100%) of the percentage of increase, if any, of the Consumer Price Index ("CPI") for all Urban Consumers, Pacific Cities, and United States Cities Average, All Items (base years 1982-84 = 100), published by the United States Department of Labor, Bureau of Labor Statistics for the year ending February 28 immediately preceding the Adjustment Date as compared with the CPI for the immediately prior year ending February 28. City shall calculate the amount of said increase after the United States Department of Labor publishes the statistics on which the amount of increase will be based. City shall give SBSA written notice of the amount of percentage increase and the corresponding Adjusted FS Base Rate as soon as the CPI has been published. Thereafter, SBSA shall compensate City for the financial services in an amount equal to the Adjusted FS Base Rate (including amounts accruing prior to notice of the adjustment, if any) for the term year in which such Adjusted FS Base Rate applies. (b) Information Technology. Fiscal Year 2012-13: SBSA shall compensate City for the information technology services described in Exhibit "A" on an hourly basis at the rate of One Hundred Ten Dollars ($110.00) per hour (the "IT Base Rate") for the first 350 hours of services furnished during Fiscal Year 2012-13, and at the IT Base Rate plus an amount equal to eighteen percent (18%) thereof for each hour of services furnished in excess of 350 hours. Fiscal Year 2013-14: SBSA shall compensate City for information technology services on an hourly basis at the rate of One Hundred Twenty Dollars ($120) per hour (the "IT Base Rate") for the first 350 hours of services furnished during Fiscal Year 2013-14,and at the IT Base Rate plus an amount equal to eighteen percent (18%) thereof for each hour of services provided in excess of 350 hours. (c) Computer Technology. SBSA shall pay Four Thousand and Eight Dollars ($4,008) for the computer technology services described in Exhibit "A" during the first year of the term hereof (the "CT Base Rate"). For the second, and, if any, each successive Term Year, the CT Base Rate shall be adjusted by the CPI in the same manner as pertains to the adjustment of FS Base Rate described in 3(a), above. 7. Payment. SBSA shall remit payment within 30 days of receipt of monthly invoices submitted by City. Invoices will briefly describe the services rendered during the billing period. City will keep and maintain accurate records relation to invoices and services rendered, which will be made available to SBSA upon request. 7. Status of City. City employees will perform the Services as an independent contractor and shall not be deemed to be employees, agents, or officers of SBSA, except for the designation of City's Finance Director as SBSA's Controller. ATTY/AGR/2012.Oxx 2 SBSA Finance and IT Services