Agmt04 Separation incentive SIP - Laserfiche WebLink

Browse Search

AGREEMENT FOR ADMINISTRATIVE SERVICES This agreement ("Agreement") is made this bJ. 3 m day of ~, 2004, between Phase II Systems ("Phase II Systems"), a corporation organized and xi sting under the laws of the State of California and the City of Redwood City ("Agency"). WHEREAS, Agency is desirous of retaining Phase II Systems, as Trust Administrator to the PARS Trust, to provide administrative and consulting services with respect to the City of Redwood City PARS Separation Incentive Plan (the "Plan"); NOW THEREFORE, the parties agree: 1. Services. Phase II Systems will provide the services pertaining to the Plan as described in the exhibit attached hereto as "Exhibit lA" ("Services") in a timely manner, subject to the further provisions of this Agreement. 2. Fees for Services. Phase II Systems will be compensated for performance of the Services as described in the exhibit attached hereto as "Exhibit IB". 3. Payment Terms. Payment for the Services will be remitted directly trom Plan assets unless otherwise stated in Exhibit 1 B. In the event that the Agency chooses to make payment directly to Phase II Systems, it shall be the responsibility ofthe Agency to remit payment directly to Phase II Systems based upon an invoice prepared by Phase II Systems and delivered to the Agency. If payment is not received by Phase II Systems within thirty (30) days of the invoice delivery date, the balance due shall bear interest at the rate of 1.5% per month. If payment is not received trom the Agency within sixty (60) days of the invoice delivery date, payment plus accrued interest will be remitted directly trom Plan assets, unless Phase II Systems has previously received written communication disputing the subject invoice that is signed by a duly authorized representative of the Agency. 4. Fees for Services Beyond Scope. Fees for services beyond those specified in this Agreement will be billed to the Agency at the rates indicated in Phase II Systems' standard fee schedule in effect at the time the services are provided and shall be payable as described in Section 3 of this Agreement. Before any such services are performed, Phase II Systems will provide the Agency with written notice of the subject services, terms, and an estimate of the fees therefore. 5. Information Furnished to Phase II Systems. Phase II Systems will provide the Services contingent upon the Agency's providing Phase II Systems the information specified in the exhibit attached hereto as "Exhibit 1 C"("Data"). It shall be the responsibility of the Agency to certify the accuracy, content and completeness of the Data so that Phase II Systems may rely on such information without further audit. It shall further be the responsibility of the Agency to deliver the Data to Phase II Systems in such a manner that allows for a reasonable amount of time for the Services to be performed. Unless specified in Exhibit lA, Phase II Systems shall be under no duty to question Data received from the Agency, to compute contributions made to the Plan, to determine or inquire whether contributions are adequate to meet and discharge liabilities under the Page 1 ,.,. ..--. .. .-...-.... . .._.