HomeMy WebLinkAboutExhibit 1PROFESSIONAL SERVICES AGREEMENT
Amendment #1
This amendment is entered into this day of July, 2013, by and between the City
of Miami, a municipal corporation of the State of Florida ("City"), and Ernst and Young LLP, a
Delaware limited liability partnership ("Provider").
RECITALS
The City and the Provider entered into a Professional Services Agreement dated
November 3, 2011 ("Agreement") for the provision of External Auditing Services.
The City and the Provider have agreed to amend the Agreement in the manner set forth
below.
NOW, THEREFORE, in consideration of the mutual covenants and promises herein
contained, Provider and the City agree as follows:
TERMS
Section 5A of the Agreement is hereby amended to read as follows:
"A. The amount of compensation payable by the City to Provider shall be based on
the rates and schedules described in Attachment "B". hereto, which by this reference is
incorporated into this Agreement; provided, however, that in no event shall the amount of annual
compensation exceed $617,000 related to the 2012 fiscal year audit. For the remaining one year
term of the agreement and any option to extend exercised by the City Manager the amount of
annual compensation shall not exceed $550,000. In the absence of a duly executed amendment
to this Agreement, the City shall have no liability for payment of any compensation beyond the
limitations expressed in this Section.
Except as amended above, the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this instrument to be
executed by their respective officials thereunto duly authorized, this day and year above written.
"City"
ATTEST CITY OF MIAMI, a municipal corporation
By:
Todd B. Hannon, City Clerk Johnny Martinez, City Manager
"Provider"
ATTEST Ernst and Young, LLP
A Delaware limited liability partnership
By:
Print Name: Print Name:
Title: Title:
APPROVED AS TO FORM AND APPROVED AS TO INSURANCE
CORRECTNESS: REQUIREMENTS:
Julie O. Bru Calvin Ellis
City Attorney Director
Risk Management