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FEE AGREEMENT <br />City of Ramsey, hereinafter 'Client', agrees to engage the services of Bearence <br />Management Group, hereinafter 'BMG', and BMG agrees, as a function of its business of <br />general agents, insurance agents, or insurance brokers, to advise Client in the <br />management of risks of loss generally covered by property and casualty insurance, and <br />fidelity and surety bonds, the above risks hereinafter 'general insurance risks', through <br />the LMCIT, however not to include surplus lines policies or coverages, and to procure or <br />attempt to procure on Client's behalf such insurance as Client may designate, subject to <br />the following terms and conditions: <br />I. EFFECTIVE DATE AND TERM <br />This Agreement shall begin on 1/1/2014 and shall continue until 12/31/18, at a minimum. <br />It may be continued beyond that term unless either party cancels this agreement by giving <br />90 days prior written notice of termination. <br />II. OBJECTIVE OF AGREEMENT <br />BMG will employ its technical knowledge and its knowledge of general and specific <br />market conditions in the assumption of such insurance management functions as Client <br />and BMG mutually deem to be appropriate. Client understands that BMG will act in the <br />dual capacity of risk management counselor and insurance agent and/or broker. <br />III. BASIS OF COMPENSATION <br />The fee for consulting services provided by employees of BMG during the term of this <br />Agreement will be $6200 per year for your Package Policies. This fee is in addition to <br />premiums. <br />Workers compensation will be on a standard commission basis. <br />Bearence Management Group City of Ramsey <br />By: By: <br />Date: Date: <br />