DocID #34720v1
CITY OF RICHMOND
CONTRACT AMENDMENT
The parties to this Contract Amendment do mutually agree and promise as follows:
1. Parties. The parties to this Contract Amendment are the City of Richmond, a public body corporate and politic, and the following named Contractor:
Contractor Name:
Street Address:
City, State, Zip Code:
Contact Person:
Telephone: Email:
Business License No:
A California: corporation, limited liability corporation, general partnership, limited partnership, individual, non-profit corporation, individual dba as [specify:] _________________________________________ other [specify:] ___________________________________________________
2. Purpose. This Contract Amendment is being entered into to amend the following Contract between City and Contractor (list terms in effect on the date of initial Contract approval):
City Council Approval Date/City Manager Execution Date: ____________________________ Effective Date: ___________________; Termination Date: ____________________________ Payment Limit: ___________________.
[check box if applicable] The Contract was previously amended, as described in the amendment history attached to this Contract Amendment, and the terms and conditions of any amendments shall be deemed to be a part of the Contract.
3. Contract Provisions. The parties hereto agree to continue to abide by those terms and conditions of the Contract, including any amendments thereto, which are unaffected by this Contract Amendment, and which shall remain in full force and effect.
Department: City Project Manager:
City Project Manager E-mail: City Project Manager Phone No:
Vendor No: Contract No:
Description of Services:
Amendment No. ___ modifies the (check all that apply):
Term Payment Limit Service Plan
Complete the Amendment History page if this Amendment is the 2nd or subsequent amendment.
DocID #34720v1 Modified January 14, 2025
4. Amendment Provisions. This Contract Amendment is subject to the Amendment Provisions attached hereto, which are incorporated herein by reference, and which control over any conflicting provisions of the Contract.
5. City of Richmond Business License Active Status Maintained. Pursuant to Municipal Code Section
7.04.030, the Contractor must maintain its City of Richmond business license for this Contract Amendment to be deemed to be in effect.
6. Insurance Coverage Updated and Maintained. Pursuant to the Contract, the Contractor shall provide the City with updated insurance certificates, and the Contractor shall maintain insurance coverage, for this Contract Amendment to be deemed to be in effect.
7. Authority; Counterparts; Signatures. Each of the signatories hereto represents and warrants that he or she has the authority to execute this Contract Amendment for the Party on whose behalf he or she is executing this Contract Amendment. This Contract Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The Parties may rely on electronic or scanned signatures as originals. Delivery of an executed signature page of this Contract Amendment by electronic format (including pdf) shall be the same as delivery of an original executed signature page.
CITY OF RICHMOND,
a municipal corporation
By: ________________________________
Title: ______________________________
Date Signed: ________________________
I hereby certify that this Amendment has been
approved by the City Council or executed by the
City Manager.
By: _______________________________
City Clerk
Approved as to form:
By: _______________________________
City Attorney
[CONTRACTOR NAME]
(*If applicable, the Corporation Chairperson of the
Board, President, or Vice-President should sign
below.)
By: ____________________________________
Title: __________________________________
Date Signed: ____________________________
(*If applicable, the Corporation Chief Financial Officer or Assistant Treasurer, or Secretary or Assistant
Secretary should sign below.)
By: ___________________________________
Title: __________________________________
*(NOTE: Pursuant to California Corporations
Code Section 313, if Contractor is a corporation or
nonprofit organization, this Contract (1) should be
signed by the Chairperson of the Board, President
or Vice-President and the Chief Financial Officer
or Assistant Treasurer, or Secretary or Assistant
Secretary; (2) should have both signatures
conform to designated representative groups
pursuant to Corporations Code Section 313.)
DocID #34720v1 Modified January 14, 2025
AMENDMENT PROVISIONS (TERM, PAYMENT LIMIT AND/OR SERVICE PLAN) Check all that apply:
TERM
PAYMENT
LIMIT
SERVICE
PLAN
Paragraph 2 (Term) of the Contract is hereby amended to extend the Contract term. Paragraph 2 of the Contract is amended to read as follows:
"2. Term. The effective date of this Contract is
________________________________________________________ (Insert Contract Effective Date)
and it terminates
________________________________________________________. (Insert new Contract termination date)
unless sooner terminated as provided herein."
Paragraph 3 (Payment Limit) of the Contract is hereby amended to increase the payment limit by $__________________. Paragraph 3 of the Contract is amended to read as follows:
"3. Payment Limit. City's total payments to Contractor under this Contract shall not exceed $_____________________ including expenses."
“The City shall not pay for services that exceed the Contract Payment Limit without the prior written approval of the City Council or executed by the City Manager if the total Contract amount does not exceed $10,000 or without the prior approval of the City Council if the total Contract amount is over $10,000.” The Service Plan (Exhibit A) of the Contract is hereby amended to include the following tasks and/or services:
(Insert description of additional tasks/services. Use additional pages if necessary.)
NICOLAY CONSULTING GROUP
Pension & OPEB Consultants and Actuaries
231 SANSOME STREET SUITE 300 SAN FRANCISCO, CA 94104
TEL: 415.512.5300 FAX: 415.512.5314 WWW.NICOLAYCONSULTING.COM August 24, 2026
Ms. Emily Combs
Director of Finance
City of Richmond
450 Civic Center Plaza
Richmond, CA 94804
RE: Amendment to City of Richmond RPOA Negotiations Study Engagement Letter Dear Ms. Combs:
Nicolay Consulting Group ("NCG") and the City of Richmond (the "City") entered into an engagement letter dated March 18, 2026 for actuarial services related to plan design scenarios for the RPOA OPEB Plan in connection with ongoing labor negotiations (the "Original Engagement Letter"). As the project progressed, the City requested additional analyses, revisions, and meeting support beyond the scope originally anticipated.
This Amendment expands the Scope of Services and updates the estimated fees for the engagement.
Except as specifically modified by this Amendment, all other terms and conditions of the Original Engagement Letter remain unchanged.
Amended Scope of Services
The Scope of Services under the Original Engagement Letter is amended to include the following services performed in connection with the RPOA retiree health plan design analysis and labor negotiations:
1. Plan Design Analysis and Revised Modeling
• Develop and evaluate the current $827 monthly retiree health cap and alternative monthly caps of $1,500, $2,500, and $3,039.
• Prepare and revise actuarial liability, Normal Cost, Actuarially Determined Contribution (ADC), asset, funded status, City cash outlay, and long-term projection results for the alternative scenarios. • Evaluate alternative employee contribution methodologies, including illustrative employee contributions based on projected Normal Cost.
• Evaluate alternative funding and trust reimbursement assumptions, including the timing of reimbursements once the plan reaches the applicable funded-status threshold. • Prepare and revise reports, exhibits, and presentation materials communicating the financial impact of the alternative benefit scenarios.
2. Plan Provision Review and Impact Analysis
• Review RPOA MOU provisions and other information provided by the City to clarify the treatment of medical, dental, and vision benefits under the retiree health cap. • Compare the clarified plan provisions with the provisions reflected in the prior actuarial valuation and available information regarding actual benefit administration. • Quantify the actuarial impact of the clarified plan provisions and update the plan design calculations and projections accordingly.
August 24, 2026
231 SANSOME STREET SUITE 300 SAN FRANCISCO, CA 94104
TEL: 415.512.5300 FAX: 415.512.5314 WWW.NICOLAYCONSULTING.COM
3. City Council and Labor Negotiation Support
• Meet with City staff to review actuarial results and prepare for discussions with City Council and RPOA representatives.
• Participate in individual meetings with City Council members regarding the RPOA retiree health plan design analysis.
• Participate in the City Council closed session regarding RPOA negotiations. • Prepare for and participate in meetings with RPOA representatives. • Revise presentation materials and supporting analyses to address questions raised by City staff, City Council members, and RPOA representatives and to communicate actuarial results to audiences with varying levels of familiarity with OPEB funding and actuarial concepts.
Fees
Services under the Original Engagement Letter and this expanded Scope of Services will continue to be billed on a time and expense basis in accordance with NCG's applicable hourly rates.
The Original Engagement Letter estimated total fees of $9,000 to $12,000 based on the scope anticipated at that time. Due to the additional plan provision analysis, revised actuarial modeling and projections, presentation development, and City Council and RPOA negotiation support described above, NCG estimates total fees for the engagement to be in the range of $30,000 to $35,000, depending on the level of any additional follow-up, discussion, and refinement requested.
Acceptance
If these amended terms are acceptable, please sign and return this Amendment. We appreciate the opportunity to continue assisting the City.
Nicolay Consulting Group City of Richmond
By: By:
Name: Sue Simon Name: Emily Combs
Title: Vice President Title: Director of Finance
Date: August 24, 2026 Date: