THIRD AMENDMENT TO AGREEMENT FOR CONTRACT SERVICES
BETWEEN THE CITY OF SIGNAL HILL AND
SHUSTER ADVISORY GROUP, LLC,
FORMERLY SFG RETIREMENT PLAN CONSULTING, LLC
This Third Amendment to Agreement for Contract Services (“Third Amendment”) by and between the City of Signal Hill, a California municipal corporation (“City”) and Shuster Advisory Group, LLC, a California limited liability company, formerly SFG Retirement Plan Consulting, LLC (“Consultant”) is effective as of August 1, 2023.
Recitals
Whereas, City and Consultant entered into an Agreement for 457 Contract Services effective April 1, 2018 (“Agreement”).
Whereas, on June 11, 2019, the Parties amended the Agreement in order to expand the Scope of Services and reduce the total compensation under the Agreement (“First Amendment”).
Whereas, on March 15, 2021, the Parties amended the Agreement in order to amend references to Consultant, extend the term of the Agreement and expand the Scope of Services under the Agreement (“Second Amendment”).
Whereas, the Parties now desire to amend the Agreement in order to adjust the total compensation under the Agreement (“Third Amendment”).
Now, therefore, in consideration of the recitals above, the Parties agree as follows:
Terms
Compensation. Exhibit “C” of the Agreement is hereby amended in its entirety to read as follows:
“Consultant shall receive compensation for all services under this Agreement, including authorized reimbursements at the following rates and in the manner set forth below:
The annual fee for service shall be $24,720 payable monthly ($2,060 per month). Thereafter, the fee may be increased annually, upon mutual agreement of the Parties in an amount not to exceed 3% of the compensation for the year prior. Consultant shall submit to the City in writing, its justification for the requested annual cost of living adjustment, no later than May 1st of each year. If approved by the City Council, any increase shall take effect each July 1st.” Remaining Provisions. Except as specifically set forth in this Third Amendment, the remaining provisions of the Agreement shall continue in full force and effect in accordance with its terms. If there is a conflict between this Third Amendment and the Agreement, the terms of this Third Amendment will prevail. [SIGNATURES ON FOLLOWING PAGE]
SIGNATURE PAGE
TO FOURTH AMENDMENT TO AGREEMENT FOR CONTRACT SERVICES
(RETIREMENT PLAN CONSULTING)
CITY OF SIGNAL HILL, CALIFORNIA
SHUSTER ADVISORY GROUP, LLC
Signature
Carlo Tomaino, City Manager
Signature
Mark Shuster, Managing Member
______________________________________________
Date
________________________________________
Date
ATTEST:
Signature
Daritza Gonzalez
City Clerk
__________________________
Date
APPROVED AS TO FORM:
Signature
Matthew E. Richardson
City Attorney
__________________________
Date
Signal Hill 457(b) & 401(a) Plans – 3rd Amend Fee Adjustment