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- 5 - ` <br /> SCHEDULE III <br /> TERMS AND CONDITIONS <br /> A. Discretionarv Settlement Authority - The limit on any settlement payment by GB shall be as set forth in <br /> Schedule V. This amount may be changed by the CLIENT upon written notice to GB. It is agreed that GB shall <br /> have full authority in all matters pertaining to the payment, processing, investigafion and administration of <br /> qualified claims on losses within this limit. Failure of GB to settle a qualified claim or loss within such limit shall <br /> not subject GB to liabil'dy to any party in the event of an adverse judgment entered by any court or the settlement <br /> of such claim or loss for an amount in excess of such limit. <br /> B. Terms of Cancellation or Nonrenewal - Either party shall have the right to cancel or renegotiate the contract <br /> after each contract period by giving the other party written notice of intent to cancel or renegotiate at least thirty <br /> (30) days in advance. If timely notice of cancellation is given,this contract shall terminate upon the expiration <br /> ' of the current term. <br /> Unless stated otherwise in Schedule V, GB agrees that all claim files for claims incurred during the contracted <br /> periods will be handled for no additional fees for as long as the CLIENT continues to renew its contract with GB. <br /> In the event of cancellation or nonrenewal of this contract, GB will continue to manage all pending claims, and <br /> claims occurring but not reported prior to the date of termination, only if CLIENT pays GB within established <br /> terms, to continue handling open claims, at GB's prevailing rate on the date of termination. A reduced <br /> RISX—FACS�reporting package will be provided at CLIENT's expense as long as GB handles the claims. <br /> Should the CLIENT elect to have the files returned to them, GB will provide a tape or paper copy of the claim <br /> information in RISX—FACS�at GB's prevailing rate on the date of termination. Upon delivery of this information <br /> to CLIENT, claim information will be deleted from the system. <br /> If the CLIENT fails to pay any amounts billed, including but not limited to GB's service fee during the contract <br /> period;audit billings per Schedule I, Section 6,1, Paragraph 2;the service fee to continue handling cfaims past <br /> termination date or bank charges,within 30 days, GB shall have the right to terminate the contract by giving the <br /> CLIENT ten(10)days'notice in writing. GB will then return all files to the CLIENT in an orderly manner. Costs <br /> for file transfer shall be the obligation of the CLIENT. <br /> C. Sole Claims Administrator- During the terms of this Agreement and except as otherwise agreed to by the parties <br /> hereto,CLIENT agrees that GB shall be the sole claims administrator with respect to CLIENT's program and that <br /> ' all new claims under CLIENT's program shall be forwarded to GB. CLIENT further agrees not to self-administer <br /> or adjust any such claims or to forward any such claims to any other service organization or individual without <br /> GB's prior written consent. <br /> D. Practice of Law- GB will not perform any services which may constitute the unauthorized practice of law. <br /> E. Mutual Indemnification - GB agrees to defend, indemnify, protect,save and keep harmless CLIENT from any <br /> and all loss, cost,damage or exposure arising from the negligent acts or omissions of GB. <br /> CLIENT agrees to defend,indemnify, protect,save and keep harmless GB from any and all loss, cost,damage <br /> or exposure arising from the negligent acts or omissions of CLIENT. <br /> The foregoing indemnification provisions shall survive termination of this Agreement. <br /> 06/cq1/17357 <br />