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Attachment B — Compensation 4
As full compensation to Provider for the services rendered hereunder, the City shall pay Provider
$625,000 for all costs and fees for services associated with the placement, procurement and
effectuation of an Owner Controlled Insurance Program ("OCIP") for the municipal parking
garage project ("Project"). The Provider shall be, at all times, the City's contact for the OCIP
and oversee all aspects of the Program. Provider is to promptly submit all invoices for fees and
costs associated with the OCIP to the City of Miami Department of Risk Management. The
$625,000 for costs and fees associated with the OCIP program shall be paid on a quarterly basis
from the month this Addendum is executed; i.e. January, April, July, October. This is the total
cost throughout and up to the completion of the OCIP (exclusive of any insurance policy
premiums ).
As part of the OCIP, the Provider will act as the City's insurance broker regarding the negotiation
and placement of all insurance policies with insurers in connection to the OCIP. The City will
pay premiums for those policies to the Provider, net of commissions. The premium amounts will
be determined at the time of binding the selected coverage. Provider will submit invoices for
payment of such premiums to City of Miami, Department of Risk Management.
Mandatory Florida Fee Agreement Disclosure. The following shall apply and control
notwithstanding to the contrary in the following mandatory disclosure:
If we are being compensated based upon a fixed dollar amount or fixed percentage fee, meaning
that the contract specifies our compensation and states anywhere in the document that additional
compensation will not be paid to us or any other party, any additional compensation to us, or the
other party, including wholesale brokers or third party intermediaries, is strictly prohibited.
Likewise, if our contract sets compensation based upon a fixed dollar amount or fixed
percentage fee, and the contract specifies that additional compensation shall be created to the
insured, any additional compensation to any party, including brokers or third party
intermediaries, must be promptly returned to you. If our contract is not based upon such fixed
fee terms, no owned or affiliated party, including brokers, wholesale brokers .or third party
intermediaries, may accept any type of compensation without full disclosure by the undersigned
broker to you of the dollar amount or percentage of compensation prior to binding your
coverage.
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Attachment 13- Compensation
As full compensation to Provider for the services rendered hereunder, City shall pay Provider
for all costs and fees associat�Iwith the placement, procurement and effectuation of an
"Owner Controlled Insurance gram (OCIP)" for the City's of Miami Parking Project, including,
but not limited to, retaining and b -contracting the administrative services portion of the
OCIP. Provider is to promptly submi all invoices for fees and costs associated with the OCIP.
The City shall compensate Provider fu administrative fees associated with the project as
depicted In Attachment A of the Scopef Services, in an amount not to exceed $625,000, plus
premiums (net of commissions) to be det rmined at time of binding of selected coverage. The
administrative fee shall be paid on a quarterly basis during the first term of the Addendum.
Mandatory Florida Fee Agreement Disclosure. he foregoing shall apply and control
notwithstanding to the contrary in the following an iatory disclosure:
If we are being compensated based upon a fixed d lar amount or fixed percentage fee, meaning
that the contract specifies our compensation and states any ere in the document that additional
compensation will not be paid to us or any other party, any ad 'tional compensation to us, or the other
party, including wholesale brokers or third party intermediaries, r strictly prohibited. Likewise, if our
contract sets compensation based upon a fixed dollar amount or fi d percentage fee, and the contract
specifies that additional compensation shall be credited to the insure any additional compensation to
any party, including brokers, wholesale brokers or third party interme ' ries, must be promptly returned
to you. If our contract is not based upon such fixed fee terms, no owned affiliated party, including
brokers, wholesale brokers or third party intermediaries, may accept any t e of compensation without
full disclosure by the undersigned broker to you of the dollar amount or per ntage of compensation
prior to binding your coverage.