Agmt 2004 Chandler Asset Management Inc

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CONSULTING SERVICES AGREEMENT BETWEEN THE CITY OF SAN LEANDRO AND CHANDLER ASSET MANAGEMENT, INC. THIS AGREEMENT for consulting services is made by and between the City of San Leandro ("Cityn) and Chandler Asset Management, Inc. ("Consultant") (together sometimes referred to as the "Parties") as of April ~;'~004 (the "Effective Date°) in San Leandro, California. Section 1. SERVICES~S-u-bject to the terms and conditions set forth in this Agreement, Consultant shall provide to City the services described in the Scope of Work attached as Exhibit A at the time and place and in the manner specified therein. In the event of a conflict in or inconsistency between the terms of this Agreement and Exhibit A, the Agreement shall prevail. 1.1 Term of Services. The term of this Agreement shall begin on the Effective Date and shall end on April 5, 2006, and Consultant shall perform the work described in Exhibit A through that date, unless the term of the Agreement is otherwise terminated or extended, as provided for in Section 8. The term of services established by this Agreement shall not affect the City's right to terminate the Agreement, as provided for in Section 8. 1,2 Standard of Performance. Consultant shalt perform all services required pursuantto this Agreement in the manner and according to the standards observed by a competent practitioner of the profession in which Consultant is engaged in the geographical area in which Consultant practices its profession. Consultant shall prepare all work products required by this Agreement in a professional manner and shall conform to the standards of quality normally observed by a person practicing in Consultant's profession. 1.3 Assignment of Personnel. Consultant shall assign only competent personnel to perform services pursuant to this Agreement In the event that City, in its sole discretion, at any time during the term of this Agreement, desires the reassignment of any such persons, Consultant shall, immediately upon receiving notice from City of such desire of City, reassign such person or persons. 1.4 Time. Consultant shall devote such time to the performance of services pursuantto this Agreement as may be reasonably necessary to meet the standard of performance provided in Section 1.1 above and to satisfy Consultants obligations hereunder. Section 2. COMPENSATION. City hereby agrees to pay Consultant monthly an amount calculated on the average market value of City's portfolio (not including City deposits in LAIF), including accrued interest, in accordance with the following schedule: Assets Under Mana ement Annual Investment Mana ement Fee First $15 million of assets under mans ement 0.125 of 1 % 12'/z basis oints Assets in excess of $15 million 0.09 of 1% 9 basis oints Consulting Services Agreement between April 5, 2004 City of San Leandro and Chandler Asset Management, I nc. Pag~