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4. COMPENSATION <br />A. As its sole compensation for its Services, Keenan shall receive commissions from AUL <br />for annuity products sold to APPLE participants. Employer shall have no responsibility <br />for the payment of any such commission to Keenan. Keenan's annual commissions may <br />be increased from to year in accordance with the increase in the Consumer Price Index <br />for the San Francisco -Oakland -San Jose area. The rate of commission shall be as <br />described on Exhibit C. <br />B. Keenan shall comply with all applicable state and/or federal laws and regulations <br />regarding disclosure of compensation. We embrace industry efforts for transparency and <br />believe it is important that Employers have access to information that may be relevant to <br />their choice of insurance products, including the cost of such insurance and services, <br />and, the compensation that may be directly or indirectly paid to Keenan in connection <br />with the products or services that are selected. If you have questions regarding any of <br />these items or desire additional information, you may contact your Keenan account <br />representative to discuss this matter in more detail. <br />5. INSURANCE <br />A. During the term of this Agreement, Keenan shallmaintain in full force and effect at its <br />own cost and expense the following insurance coverage with insures with an A.M. Best's <br />rating of no less than A:VII: <br />1. General Liability and Bodily Injury Insurance. Commercial general liability <br />insurance with limits of at least $1,000,000 combined limit for bodily injury and <br />property damage that provides that the City, its officers, employees and agents <br />are named additional insureds under the policy. The policy shall state in writing <br />either on the Certificate of Insurance or attached rider that this insurance will <br />operate as primary insurance for work performed by Keenan and its <br />subconsultants, and that no other insurance effected by City or other named <br />insured will be called on to cover a loss. <br />2. Automobile Liability Ins, urance. Automobile liability insurance with limits not <br />less than $1,000,000 per person/per occurrence. <br />3. Workers' Compensation Insurance. Workers' Compensation Insurance for all of <br />Keenan's employees, in strict compliance with State laws, including a waiver of <br />subrogation and Employer's Liability Insurance with limits of at least $1,000,000. <br />4. Professional Liability Insurance. Professional liability insurance in the amount of <br />$2,000,000 <br />B. Keenan shall file a certificate of insurance with the City prior to the City's execution of <br />this Agreement, and prior to engaging in any operation or activity set forth in this <br />Agreement. The Certificate of Insurance shall provide in writing that the insurance <br />afforded by this Certificate shall not be suspended, voided, canceled, reduced in coverage <br />\\Katomasl\legal - torrance\Clients - Municipalities\Pleasanton, City of\1006018Pleasanton -Apple Services Agreement (execution).doc <br />Confidential For Employer Use Only <br />(Rev. 01/10) <br />`QM - <br />Page 3 of 11 <br />