20070313_a


FIRST AMENDMENT AGREEMENT BETWEEN THE COUNTY OF SAN MATEO AND MILLIMAN, INC.

THIS FIRST AMENDMENT, entered into this _____ day of _____, 2007, by and between the COUNTY OF SAN MATEO, hereinafter called "County," and Milliman, Inc., hereinafter called "Contractor";

W I T N E S S E T H:

WHEREAS, on September 14, 2005, the parties hereto entered into agreement (hereinafter referred to as the “Original Agreement”) for actuarial services related to compliance with GASB 45 accounting standards for other post-employment benefits; and

WHEREAS, the parties wish to further amend the Agreement to increase the maximum amount of the agreement by $25,000;


NOW, THEREFORE, IT IS HEREBY AGREED BY THE PARTIES HERETO AS FOLLOWS:

1.	Section 3, Payment, of the Original Agreement is hereby amended to read as follows:
	In consideration of the services provided by Contractor in accordance with all terms, conditions and specifications set forth herein and in Exhibit “A”, County shall make payment to contractor based on the rates and in the manner specified in Exhibit “B”. The County reserves the right to withhold payment if the County determines that the quantity or quality of the work performed is unacceptable. In no event shall the County’s total fiscal obligation under this agreement exceed One Hundred Twenty Five Thousand Dollars ($125,000), for the initial valuation, valuation of alternative costs methods, preparation of Interim Year GASB 45 disclosures, and the Second Full Valuation in Exhibit “B”.

2.	Exhibit “B” is hereby amended as follows: Service and Maximum Fee Second Full Valuation $45,000

3.	All other terms and conditions of the agreement dated September 14, 2005, including any subsequent amendments to this agreement between the County and Contractor, shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto, by their duly authorized representatives, have affixed their hands.

COUNTY OF SAN MATEO

By:

President, Board of Supervisors, San Mateo County

Date:

ATTEST:

By:

Clerk of Said Board

MILLIMAN, INC.

Contractor’s Signature

Date:


IN WITNESS WHEREOF, the parties hereto, by their duly authorized representatives, have affixed their hands.

	COUNTY OF SAN MATEO

	By:
	President, Board of Supervisors, San Mateo County

	Date:

ATTEST:
By:
Clerk of Said Board

MILLIMAN, INC.


Contractor’s Signature
Date:

Section 3, Payment, of the Original Agreement is hereby amended to read as follows:

Exhibit “B” is hereby amended as follows:

Service and Maximum Fee

Second Full Valuation $45,000

All other terms and conditions of the agreement dated September 14, 2005, including any subsequent amendments to this agreement between the County and Contractor, shall remain in full force and effect.