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extended upon a writing executed by the Executive Director of the Finance Department and the City <br />Attorney. <br />3. COMPENSATION <br />a. City agrees to pay, and Consultant agrees to accept as total payment for its services, <br />identified in Exhibit A, Consultant agrees to file all eligible annual fiscal year actual cost <br />reimbursement claims by the due date in accordance with the annual fixed fee schedule: <br />Claims Covered Claims Due Date Annual Fixed Fee <br />2012-2013 Annual & New February 15, 2014 $11,500 <br />2013-2014 Annual & New February 15, 2015 $11,400 <br />2014-2015 Annual & New February 15, 2016 $11,400 <br />b. City shall be billed quarterly for the annual fixed fee. Payment by City shall be made <br />within thirty (30) days following receipt of proper invoice evidencing work performed, subject to <br />City accounting procedures. Payment need not be made for work which fails to meet the standards <br />of performance set forth in the Recitals which may reasonably be expected by City. <br />4. INSURANCE <br />Consultant shall obtain and maintain for the entire term of this Agreement comprehensive <br />general liability insurance, with companies acceptable to the City, authorized to issue such <br />insurance in the State of California. Said insurance shall consist of the following: <br />a. Worker's Compensation Insurance. In accordance with the provisions of Section 3300 of <br />the Labor Code, Consultant, if Consultant has any employees, is required to be insured against <br />liability for worker's compensation or to undertake self-insurance. Prior to commencing the <br />performance of the work under this Agreement, Consultant agrees to obtain and maintain any <br />employer's liability insurance with limits not less than $1,000,000 per accident. <br />b. Professional Responsibility (Errors and Omissions) insurance with a combined single <br />limit of not less than $1,000,000.00 per claim. <br />c. The following requirements apply to the insurance to be provided by Consultant pursuant <br />to this section: <br />(i) Consultant shall maintain all insurance required above in full force and <br />effect for the entire period covered by this Agreement. <br />(ii) Certificates of insurance shall be furnished to the City upon execution of this <br />Agreement and shall be approved in form by the City Attorney. <br />(iii) Certificates and policies shall state that the policies shall not be canceled or reduced <br />in coverage or changed in any other material aspect without thirty (30) days prior <br />written notice to the City. <br />25G-4