R2013-12 AUTHORIZING EXTENDING THE TRANSIT MANAGEMENT AGREEMENT

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CONTRACTOR. Such advisory and technical assistance shall include, but shall not be limited to, those relating to the managerial functions identified in Section 3. 7. COMPENSATION The CITY agrees to pay to CONTRACTOR as compensation for management services rendered pursuant to this Agreement the following sums: PERIOD FEE Year 1: July 1, 2009—June 30, 2010 $ 9,255 per month ($111,060 per year) Year 2: July 1, 2010—June 30, 2011 $ 9,579 per month ($114,948 per year) Year 3: July 1, 2011 —June 30, 2012 $ 9,914 per month ($118,968 per year) Year 4: July 1, 2012—June 30, 2013* $10,261 per month ($123,132 per year) Year 5: July 1, 2013 —June 30, 2014* $10,620 per month ($127,440 per year) * if exercised by the CITY Payment shall be made by the CITY to CONTRACTOR on or before the 15th day following receipt of CONTRACTOR's invoice for that month's management fee on a pro rata basis of the annual fee. In the event this Agreement becomes effective(or terminates)other than on the first(or last)day of a calendar month,the fee due CONTRACTOR shall be prorated on a daily basis. 8. WORKING FUNDS The CITY shall provide the Transit System with adequate working funds which shall be deposited in a"Payroll Account" and other"Special Accounts" as needed,under procedures and controls adopted by the CITY. The ownership of said funds shall remain in the CITY. Such working funds shall be used to pay all wages,payroll taxes, fringe benefits and pension benefit expenses of all personnel of the Transit System, excluding CONTRACTOR's resident management personnel. It is also understood and agreed that the term "pension benefit expenses" shall include all past, present, and future pension or profit sharing plan liability, including without limitation, liability for vested but unfunded or underfunded benefits,payable by the CITY or an account of the Transit System(as constituted in the past, present and/or future). 7