HomeMy WebLinkAboutContract 54222-A1R5CSC No. 54222-A1R5
AMENDMENT NO. 1 AND RENEWAL NO.5
TO CITY OF FORT WORTH CONTRACT NO. 54222
This Amendment and Renewal is entered into by and between the City of Fort Worth
(hereafter "City"), and Hub International Texas, Inc. ("Vendor"). City and Vendor may be
referred to individually as a Party and collectively as the Parties.
WHEREAS, the Parties entered into City Secretary Contract 54222 for Vendor to act as
City's broker of record charged with securing and administrating commercial insurance policies
on City's behalf ("Agreement");
WHEREAS, the Agreement was for an initial one-year term and allows for up to eight
(8) one-year renewal options;
WHEREAS, the Compensation section of the Agreement only memorializes the fixed
administrative fee paid to Vendor, but not the commercial insurance premiums that are paid to
Vendor to then flow to third -party insurance carriers;
WHEREAS, the administrative fee is due annually in June while commercial insurance
premiums are approved and appropriated by City Council annually in December and are paid based
on policy renewal dates the following year;
WHEREAS, it is the collective desire of the Parties to amend the Agreement: (1) to
amend the term language of the Agreement beginning with Renewal Option 5 so that commercial
insurance premiums can be paid in alignment with their due dates to avoid breaks between
coverage periods; and (2) to incorporate language in the Compensation section related to
commercial insurance premium payments;
WHEREAS, the term dates for Renewal Option 5 will be July 1, 2024 through
November 30, 2025 and all remaining renewal options will cover an annual period of December
1- November 30.
NOW, THEREFORE, the Parties, acting herein by the through their duly authorized
representatives, enter into the following agreement:
1.
AMENDMENTS
1. Section 2, the Term provision of the Agreement, shall be deleted in its entirety and
amended to read as follows:
This Agreement shall begin on June 30, 2020 ("Effective Date") and shall expire on June 30, 2021
("Expiration Date"), unless terminated earlier in accordance with this Agreement ("Initial Term").
City shall have the option, in its sole discretion, to renew this Agreement under the same terms
and conditions for up to eight (8) one-year renewal options.
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
The term dates for Renewal Option 5 will cover July 1, 2024 through November 30, 2025.
Beginning with Renewal Option 6, the term dates will run December 1- November 30 annually.
2. Section 3, the Compensation provision of the Agreement, shall be deleted in its entirety
and amended to read as follows:
City shall pay Vendor a fixed administrative fee in the amount of Thirty -Nine Thousand Dollars
($39,000.00) approximately every June. City will also pay Vendor for commercial insurance
premiums Vendor secures on City's behalf throughout the year based on policy renewal dates.
Insurance premium payments must be approved and authorized by City Council on an annual basis
through a Mayor and Council Communication (M&C) before payments for premiums can be
made. Vendor shall not provide any additional items or services or bill for expenses incurred for
City not specified by this Agreement unless City requests and approves in writing the additional
costs for such services. City shall not be liable for any additional expenses of Vendor not specified
by this Agreement unless City first approves such expenses in writing.
2.
RENEWAL
The term of the Agreement is hereby renewed for an additional term beginning July 1, 2024
and expiring November 30, 2025, unless terminated earlier in accordance with the Contract. All
payment shall be made in accordance with the terms of the Contract.
ALL OTHER TERMS SHALL REMAIN THE SAME
All other provisions of the Agreement which are not expressly amended herein shall
remain in full force and effect.
3.
ELECTRONIC SIGNATURE
This Amendment and Renewal may be executed in multiple counterparts, each of
which shall be an original and all of which shall constitute one and the same instrument.
A facsimile copy or computer image, such as a PDF or tiff image, or a signature, shall be
treated as and shall have the same effect as anoriginal.
ACCEPTED AND AGREED:
CITY OF FORT WORTH:
CONTRACT COMPLIANCE MANAGER:
�c� ^ By signing I acknowledge that I am the person
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By: 06" ` of this contract, including ensuring all
Name: Jesica McEachern performance and reporting requirements.
Title: Assistant City Manager
Date: Aug 16, 2024
By:
APPROVAL RECOMMENDED: Name: Donnette Murphy
Title: Property & Casualty Manager
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BY: Dianna Giordano (Aug 13, 202409:18 CDT)
Name: Dianna M. Giordano
Title: Director of Human Resources
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By:
Name: Jannette S. Goodall
Title: City Secretary
Vendor: HUB International Texas, Inc.
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By: David Rascoe (Aug 8, 2024 15:48 CDT)
Name: David Rascoe
Title: Sr. Vice President
APPROVED AS TO FORM AND LEGALITY:
By:
Name: Jessika Williams
Title: Assistant City Attorney
CONTRACT AUTHORIZATION:
M&C: N/A
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX