Common use of Services; Compensation Clause in Contracts

Services; Compensation. Scope of Services will include the following: a. Itemization of cost of benefits (total and per employee) b. Calculation of OPEB expenses on the accrual basis of accounting for implicit and explicit (as applicable) retiree subsidies c. Projection of future benefit payment costs d. Determination of the present value of projected benefit payments e. Calculation of the Total OPEB Liability for OPEB associated with past service costs f. Provide a future cash flow analysis for the Customer g. Provide an actuarial certification of liabilities in a valuation report suitable for use by the Customer’s auditor in preparation of its financial statements. The standard fee for the initial valuation report will be $ . This fee includes a standard GASB 74/75 valuation report, a conference call meeting with the Client before the work begins, and a conference call meeting to review the draft report. Additional consideration, to be billed only if requested by Customer, may include: a. Optional onsite meeting to present the final report: $1,500 b. Optional additional scenarios: $750 per scenario. c. Optional off-year “roll-forward” report: $3,000 per report. Client agrees to remit payment to ▇▇▇▇▇▇▇▇▇ within 30 days of receipt of invoice following receipt of the initial summary draft actuarial report. Additional services not listed in Section 3 will result in additional fees to be mutually agreed by the parties prior to commencement of the service(s). Any variation from the original fee estimate will be discussed with Client prior to commencing with the required work. Any compensation described above and disclosed to it does not constitute a conflict of interest and the Client expressly waives any claims alleging any such conflict of interest.