BENEFIT FUNDING SERVICES GROUP 4 - 2010

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INSURANCE NOT ON FILE N_2O�o_O,S WORK MAY NOT PROCEED CLERK OF COUNCIL _ . DATE: puG 2 9 "L�1® O � Fly S �z� CONSULTANT AGREEMENT Teresa THIS AGREEMENT, made and entered into this 28 °i da of June, 201 O b and between l�lmf r�Z Benefit Funding Services Group, Inc a California Corporation (hereinafter "Contractor "), and the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California (hereinafter "City "). RECITALS A. The City desires to retain a Contractor having special skill and knowledge in the field of employee deferred compensation plan analysis and assessment. B. Contractor represents that Contractor is able and willing to provide such services to the City. C. In undertaking the performance of this Agreement, Contractor represents that it is knowledgeable in its field and that any services performed by Contractor under this Agreement will be performed in compliance with such standards as may reasonably be expected from a professional firm in the field. NOW THEREFORE, in consideration of the mutual and respective promises, and subject to the terms and conditions hereinafter set forth, the parties agree as follows: SCOPE OF SERVICES Contractor shall perform analysis, assessment and advisement services regarding the Santa Ana Employee Deferred Compensation Program, as set forth in Exhibit A, attached hereto and incorporated by this reference. Contractor may be requested to provide additional financial advising or implementation services, at the written request of the Executive Director of Finance and Management Services. 2. COMPENSATION a. City agrees to pay, and Contractor agrees to accept as total payment for its Investment Advisement services, a quarterly fee of $4,750.00. Additional services provided at the request of the City will be paid in conformance with a written proposal approved by the Executive Director. The total sum to be expended under this Agreement shall not exceed $25,000.00, annually, during the term of this Agreement. b. Payment by City shall be made within thirty (30) days following receipt of proper invoice evidencing work performed, subject to City accounting procedures. Payment need not be made for work which fails to meet the standards of performance set forth in the Recitals which may reasonably be expected by City. 3. TERM This Agreement shall commence on the date first written above and terminate on June 30, 201 1, unless terminated earlier in accordance with Section 12, below. Services provided since January 1, 201 O shall be included within the Scope of Services of this Agreement. The term of this Agreement may be extended upon the approval of the Executive Director of FMSA.