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I () -��3L APPLE PARTICIPATION AGREEMENT This Services Agreement ("Agreement") is made and entered into by and between City of Pleasanton ("Employer") and Keenan & Associates ("Keenan"), as of July 1, 2010 ("Effective Date"). RECITALS WHEREAS, Keenan & Associates ("Keenan") has established the Accumulation Program for Part - Time and Limited -Service Employees ("APPLE") which offers public entities a means of funding an asset accumulation program for their part-time employees; WHEREAS, MidAmerica Administrative Solutions, Inc. ("MidAmerica"), is the exclusive provider of administrative services and technical support for the Social Security Alternative plans established by APPLE participants in accordance with the provisions of Section 3121 of the Internal Revenue Code (hereinafter referred to as the "APPLE Plan"); WHEREAS, Keenan provides certain services to APPLE participants and acts as broker of record for annuities purchased by APPLE participants; and WHEREAS, Employer desires to participate in APPLE, and desires to utilize the services of Keenan. THEREFORE, IN CONSIDERATION OF the mutual covenants herein contained and for other good and valuable consideration the receipt and sufficiency is hereby acknowledged, it is mutually agreed as follows: AGREEMENT 1. TERM A. This Agreement shall be for an initial term of one (1) year (the "Initial Term"), beginning with the execution date of this Agreement, and shall continue from year to year thereafter (each year a "Successive Term" and, collectively with the Initial Term, the "Term"), unless and until terminated by either party pursuant to Section 9 2. KEENAN SERVICES AND RELATIONSHIP OF THE PARTIES A. Employer elects and Keenan shall provide the services indicated in Exhibit A attached hereto and incorporated herein. B. The relationship of Keenan and Employer shall be that of an independent contractor and Keenan shall at all times remain responsible for its own operational and personnel expenses. Under no circumstance shall any employee of one party look to the other party for any payment or the provision of any benefit, including without exception, workers' compensation coverage. Except as may be expressly set forth in or contemplated by this Agreement, neither party shall have the right to act on behalf of the other, or to bind the other to any contract or other obligation. \\Katomasl\Icpd - tomtnce\Clients - Municipalities\Pleasanton, City of\1000018Plcasanton -Apple Services Agreement (execution).doc Confidential For 1?mploycr Use Only (Rev. 01 / 10) 4L Page 1 of 11