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25B - AGMT - DEFERRED COMP SRVS
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25B - AGMT - DEFERRED COMP SRVS
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Last modified
9/29/2016 3:12:05 PM
Creation date
9/29/2016 2:22:34 PM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
25B
Date
10/4/2016
Destruction Year
2021
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Amendment No. 2 <br />Attached to and Forming part of <br />AGREEMENT FOR RECORDKEEPING AND COMMUNICATION SERVICES <br />§457 Deferred Compensation Plan <br />GROUP #98280 -01 <br />THIS AMENDMENT NO. 2 is entered into by and between Great -West Life & Annuity Insurance <br />Company ( "Great- West "), and/or any successor, assign or affiliate, and the City of Santa Ana ( "Plan <br />Sponsor ") with respect to the services to be provided by Great -West to the City of Santa Ana 457 <br />Deferred Compensation Plan ( the "Plan "). <br />RECITALS <br />Effective September 3, 2014, Great -West and the Plan Sponsor entered into the Agreement for <br />Recordkeeping and Communication Services ( "Agreement "), under which Great -West provides certain <br />recordkeeping and communication services for the Plan Sponsor with respect to the Plan; and <br />The Agreement was for a term of one year with an option for one additional year. Following the <br />expiration of the original term, Great -West, with the Plan Sponsor's consent, continued to provide <br />services under the Agreement to the Plan Sponsor; and <br />For administrative efficiencies, Great -West and the Plan Sponsor agreed that it would be mutually <br />beneficial to amend the Agreement for the purpose of exercising the above option and continuing the <br />Agreement through September 30, 2016. For this purpose, the parties executed Amendment No. 1, # <br />A- 2014 - 208 -01, dated December S, 2015; and <br />The parties now wish to again extend the term of the Agreement by mutual agreement as provided <br />below, <br />NOW THEREFORE, in consideration of the covenants and conditions herein contained, and <br />other good and valuable consideration as herein provided, the parties agree to amend the <br />Agreement as follows: <br />Section IX Agreement Term and Termination is amended to extend the term of the Agreement <br />up to and including July 31, 2017, with an option exercisable by Plan Sponsor to further extend <br />the Agreement up to and including September 30, 2017. <br />2. Except as modified by this Amendment No. 2, and all prior amendments, all terms and <br />conditions of the Agreement shall remain in full force and effect. <br />3. This Amendment No. 2 will take effect upon the date executed by both the Plan Sponsor and <br />Great -West. <br />City of Santa Ana 9 -19.16 <br />25B -6 <br />
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