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<br />GRS <br /> <br />Gabriel Roeder Smith & Company <br />Consultants & Actuaries <br /> <br />5605 N. MacArthur Blvd. <br />Suite 870 <br />Irving, TX 75038-2631 <br /> <br />469.524.0000 phone <br />469.524.0003 fax <br />www.gabrielroeder.com <br /> <br />MASTER AGREEMENT <br /> <br />Pursuant to the award of Joint Actuarial Services by the North Central Texas Council of <br />Governments (NCTCOG), this agreement confirms the terms under which the City of La <br />Porte hereinafter referred to as 'CONTRACTING GOVERNMENT" has engaged <br />Gabriel, Roeder, Smith & Co. hereinafter referred to as "GRS" to perform actuarial <br />consulting services. In as much as this relationship will involve several actuarial reviews <br />and other services that will be governed by the Request for Proposal issued by NCTCOG <br />on May 31, 2006 and our subsequent response to that proposal, we have agreed to <br />establish this "master agreement" defining the general terms and conditions for all work <br />performed. <br /> <br />This agreement will not, by itself, authorize the performance of any services. Rather <br />specific services will be authorized through a separate engagement letter that references <br />this master agreement and details the services to be provided and the timeframe and fees <br />required. In the event of an inconsistency between this master agreement and an <br />individual engagement letter, the master agreement will be followed. <br /> <br />As described in the above referenced Request for Proposal the following terms apply: <br /> <br />A. Tax Exempt Entities. CONTRACTING GOVERNMENT is exempt from <br />manufacturer's federal excise tax and states sales tax. Tax exemption certificates <br />will be issued upon request. <br /> <br />B. Role of NCTCOG. NCTCOG has served as a facilitator to the RFP and award <br />process but the contractual relationship is between GRS and the CONTRACTING <br />GOVERNMENT. <br /> <br />C. A!!:!!:re!!:ate Information. GRS agrees to supply NCTCOG with the specified <br />results from the valuations and to aggregate that information with that of other <br />governments for the purpose of benchmarking. <br /> <br />D. Fees. GRS agrees to follow the attached pricing schedule ("Attachment A") for <br />pricing of its services. <br /> <br />I. Review of Char!!:es. CONTRACTING GOVERNMENT has the right to review <br />the supporting documentation for any hourly charges or out of pocket expenses <br />assessed to the CONTRACTING GOVERNMENT under the fee schedule. <br /> <br />1. Termination. Both CONTRACTING GOVERNMENT and GRS will have the <br />right to terminate this agreement through written notice. CONTRACTING <br />GOVERNMENT will pay any charges or prorate fees incurred to the date the <br />termination notice is received and actuary will cease any in progress work unless <br />specific stopping points are provided in the letter. <br />