vTech+Amendment+1+Signed+10-25-2023.pdf

CONTRACT AMENDMENT

Amendment to Contract between the State of North Dakota, acting through its (Retirement and Investment Office), “STATE,” and (vTech Solution, Inc.), “CONTRACTOR.”

The parties agree to the following terms and conditions and expressly agree that if any of the following terms and conditions conflict with any of the terms and conditions of the Contract, then, notwithstanding any term in the Contract, the following terms and conditions govern and control the rights and obligations of the parties.

Whereas, Section 16, Merger and Modification, Conflict in Documents, states: “This Contract may not be modified, supplemented or amended, in any manner, except by written agreement signed by both parties.”; therefore, the Contract is amended as follows:

Whereas, Section 3, Term of Contract, Item c., Renewal Option, states: “STATE may renew this Contract upon satisfactory completion of the initial Contract Term. STATE reserves the right to execute up to one (1) option to renew this Contract under the same terms and conditions for a period of twenty-four (24) months each.”; therefore, the Contract is amended as follows:

Insurance:

Contract Section 7, Insurance, is hereby replaced in its entirety with the following:

Contractor shall secure and keep in force during the term of this agreement and Contractor shall require all subcontractors, prior to commencement of an agreement between Contractor and the subcontractor, to secure and keep in force during the term of this agreement, from insurance companies, government self-insurance pools or government self-retention funds, authorized to do business in North Dakota, the following insurance coverages:

1) Commercial general liability, including premises or operations, contractual, and products or completed operations coverages (if applicable), with minimum liability limits of $2,000,000 per occurrence.

2) Workers compensation coverage meeting all statutory requirements. The policy shall provide coverage for all states of operation that apply to the performance of this contract.

4) Employer’s liability or “stop gap” insurance of not less than $2,000,000 as an endorsement on the workers compensation or commercial general liability insurance.

The insurance coverages listed above must meet the following additional requirements:

CONTRACT NUMBER AND TITLE: State Contract 139 – Investment Professionals

AMENDMENT NUMBER: 1

1) Any deductible or self-insured retention amount or other similar obligation under the policies shall be the sole responsibility of the Contractor.

2) This insurance may be in policy or policies of insurance, primary and excess, including the so-called umbrella or catastrophe form and must be placed with insurers rated “A-” or better by A.M. Best Company, Inc., provided any excess policy follows form for coverage. Less than an “A-” rating must be approved by the State.

The policies shall be in form and terms approved by the State.

3) The duty to defend, indemnify, and hold harmless the State under this agreement shall not be limited by the insurance required in this agreement.

4) The state of North Dakota and its agencies, officers, and employees (State) shall be endorsed on the commercial general liability policy on a primary and noncontributory basis, including any excess policies (to the extent applicable), as additional insured.

The State shall have all the benefits, rights and coverages of an additional insured under these policies that shall not be limited to the minimum limits of insurance required by this agreement or by the contractual indemnity obligations of the Contractor.

5) A “Waiver of Subrogation” waiving any right to recovery the insurance company may have against the State.

6) The Contractor shall furnish a certificate of insurance to the undersigned State representative prior to commencement of this agreement. All endorsements shall be provided as soon as practicable.

7) Failure to provide insurance as required in this agreement is a material breach of contract entitling the State to terminate this agreement immediately.

8) Contractor shall provide at least 30-day notice of any cancellation or material change to the policies or endorsements. Contractor shall provide on an ongoing basis, current certificates of insurance during the term of the contract. A renewal certificate will be provided 10 days prior to coverage expiration.

Renewal:

The parties have agreed to execute the twenty-four (24) month renewal option of the Contract; therefore, the Contract is amended to change the expiration date to 11/3/2025.

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All other terms of the Contract remain in effect.

This Contract Amendment is not effective until fully executed by all parties.

EXECUTION

CONTRACTOR NAME

vTech Solution, Inc.

NAME

SIGNATURE

TITLE

DATE

STATE OF NORTH DAKOTA acting through its Retirement and Investment Office

NAME

Janilyn Murtha

SIGNATURE

TITLE

Executive Officer

DATE

CONTRACT NUMBER AND TITLE: State Contract 139 – Investment Professionals

AMENDMENT NUMBER: 1

10/20/2023