19831012a Contract - Stanford Univeristy Hospital

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PAYROLL TAX SERVICta

This Aoreement is m
by

WHEREAS, St:anford University Hos;:>i:al desires to engage Hamilton Taft to perform payroll ~ax services with respe~t to employees of Stanford Unive:-sity and Hamil ton Taft desires to perform s.uch services; NOW TH:::r<::rORE, in consider2tion of the mutua! ac;r!'!e.ments se.{ (orth below, the parties "sree as follows: DUTIES OF HA/.IILTON TAFT; Durin<,:; (he term of lhis Agree'ment, Hamilton Taft will (I) deposit requjrec Federal, State and local withholding tax payments for Stanrorc Univel"sity Hos~ital in the appropriate amoul'\cs (utili:::ing IRS" !::.afe haven" provisions) and jrl a timely and proper manner (including payment by check, where allowed) with-the tax authorities on or :,efore the payment deadlines; (1) Hamilton T2;-, will ;:>I"epare, i.ransmit and file required federal. stare and loca! payroll t2 x forms and ~e;5ons. These duties to be. 2 condItion pre:=:edenc to "DUTI=:S OF STANr=ORD UNIV::::?SITY HOSPITAL" (reimburse.ment of ~arr.ilton Taft by Stanford University Hospital), DUTIES Or STANFORD UN(V~RS(-;-Y HOSPITAL: During the term of chis Agreerne.nl, S .. anford University riospi::al will ( 1) deliver to Hamilton such documents (including ac.:urale aU!Or.liHec:! p2yroJl ~2X su~mary informalion together with its payroll ~2:;: regtste:-sl 2$ are necess;:;ry to ~nable Hamilton Taft to carry out its duties under the :e:-ms o( ;:his A£reeme(1t; {2) r~;mburse ~amilton Taft, vta Hamilton T 2fr's De~ositor,:, T ransrer Check no sooner ;;nd no later than :2 calencar cays of the ;:.I.T .. F.I.C_'!"., and State ta:x ce;=l0sitory due oates, in the amour" or 100'1: of fede:-al anc s~a!e liabilities, and (:ij reim:>l1rse Hamilton Taft. al ::ank Qf America's ave'-draft or ulicolle.'::::,ed funds borrowing rate applied to ~ami[ton Taf, 2S a result of an improper failure !:ly Stanford University Hospital to reimourse Hamilton Taft in a timely manner ror the tax deposits made or. S tar-ford Un;ve:rsi~y Hospital's behalf.

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COMPENSATI:JN OF HAMILTON TA,=T; Compensa .. ion which Hamilton Taft s.hall receive for performGl1ce or (he Guties des"Cribed he:",ein is that Hamil ton Taft may recain whatever bene(i(s may be derived from (he tempor-ary use o( any fun~s not collecced immediately ~y {~e taxing Clut!iorities upon Hamilton Taft's deposit or ~2ymen{ on S [anfor:: University Hos;:>i~GI's :>ehal{ en or beiore the payment ceac:iiles. INDEMNIFICAT)ON: Hamitton Taf; shall indemnify. de.fend and hold Stanford UniversHY HOSPlt2! harmless fram and agaInst any and all expenses. damages. claims, suits., ac:ions, jucgl7lents 2nc c:;)s,s, inc:Judins anorney's fees, arising out of Hamilton Taft's failure to perform the duties described herein in a timely ind proper manner.

FEES: Harr.i1ton Tafl will c~arge Staniord Uf)iversity Hospitar on the \25. business cay o( each month via De;:;ository Transfe .... check, 550.00 (or eac.'1 Federal I. D. and S 1 0.00 per month (or each St2 te in e.xc!:!ss o( one 5ervice~. rnitiation (E:~S will be a one ;ime charge 0( 5 i OQ. 00 pe; re:deral l.D.

TERM AND TERf..IINATION : The term of-this; Agreement shoal! begin on OC"tOber )2, 19B] and continue indefinitely until termi(\aled by either party as prov idee below . Stanford University Hospital may terminate this Agreement immediately i( (1) Hamilton Taft fails to perform any of Its obligations under the terms of this Agr~emen(: (2) a voluntary or involuntary petition (or relief o( debtors or' creditors is filed by or against Hamilton Taft; or- (3) Hamitron Taft enCers into or e{(ec. _ls any plan or agreement with ics creditors. Either S ran(ord University Hospital or Hamilton Ta(( may terminate this Agreement lWilhout cause upon 30 days' written notice_ FIDELITY BOND: In order to protect Stanford University Hospital against dishonesty or fraud by employees of Hamilton Taft, Hamilton Taft shall maintain during the term of this Ag reemenl one or more ridelity bonds in a9gre~a te amounts equal {a S20 million. As new customers are acquired by Hamilton Taft, the amount of said fidelity bond shall be increesec so that the percentage of customer deposits ~rotectec by ridelity bonds remains adequate and constant. Stanford Universiry Hospital shall be entitled to 60 days' written notice from t.he bonding com;Janies of any cancella bon of such fidelity bonds. MISCELLANEOUS: This agreement constitutes the entire understanding betwe~n Si.an(ord Universi:y Hospital and Hamilton Taft and cannot be modified except by an agreement in writing signed by the parties. Upon execution of this Agreement, this Agreement shall supersede all prior negotiations, undersLlndings and agreements. whether oral or w rilten. This A.gre~ment may nol be delega ted to persons who 21-e not em~loye::s of Hamilton Ta(l. Any notice required 10 be given shall be in writing. postage ~repaid . by certiried met!' IN WITNESS WHSRSOF, ,he ,:;arties herein have caused this Agreement to '::>e executed on the care first cbove wrinen .

ACCSPT~Q.

"3Y 57 ANFORD

ACC=:?TC:O S Y HA/·AIl TON TAFT

UNIVE~~PITAL

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