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The intent of this Letter of Understanding is that of a working document for the Scope of <br /> Services requested. It will vary periodically as mutually agreed based on the needs of the City <br /> of Decatur benefit plans at the time. <br /> The effective date of this extension will be an annual option of the City of Decatur beginning <br /> June 1, 2017 and ending June 1, 2020 as provided in our response to the original Request for <br /> Proposal issued by the City of Decatur and accepted by the City April 22, 2015. JL Hubbard <br /> Insurance and Bonds Agency will continue services for the original annual agreed fee of$40,000 <br /> with an annual increase of 3%at the beginning of each option year elected. This is payable in <br /> quarterly installments of$10,300.00 at the beginning of each quarter for the option year June <br /> 1, 2017 through May 30, 2018. It is further noted that this compensation is the only <br /> compensation we will receive related to your medical account. We will not accept any <br /> additional compensation from any source. <br /> Our consulting fee for this project includes not only my time, but the time and experience of <br /> our entire staff. Amy Whiting-McCoy and Stephanie Jackson will be the dedicated Account <br /> Executives that will coordinate all aspects of this project. <br /> I am confident you will find our services of value and look forward to a long-term partnership <br /> with you and the City of Decatur. Please execute this Letter of Understanding with your <br /> signature below. <br /> Sincerely, <br /> Rick Semonis, CLU City Manager <br /> 4 <br />