Back to top

HUMAN RESOURCES AND PAYROLL SERVICES AGREEMENT

Consulting Services Agreement

HUMAN RESOURCES AND PAYROLL SERVICES AGREEMENT | Document Parties: REPUBLIC FIRST BANCORP IN | BSC Services Corp  | Republic First Bank You are currently viewing:
This Consulting Services Agreement involves

REPUBLIC FIRST BANCORP IN | BSC Services Corp | Republic First Bank

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: HUMAN RESOURCES AND PAYROLL SERVICES AGREEMENT
Governing Law: Delaware     Date: 3/30/2005
Industry: Regional Banks     Sector: Financial

50 of the Top 250 law firms use our Products every day

 

 

 

                                                                    Exhibit 10.5

 

 

 

 

HUMAN RESOURCES AND PAYROLL SERVICES AGREEMENT        Effective January 1, 2005

----------------------------------------------

 

         THIS OPERATIONS & DATA PROCESSING SERVICE AGREEMENT is made and entered

into this 1st day of January, 2005, by and between Republic First Bank

("Customer") and BSC Services Corp ("Servicer"), and updated as necessary to

assure an objective allocation of costs, consistent with arms length business

practices and all applicable regulations. Actual costs will be billed, based

upon good faith estimates of time allocations, unless both parties to the

contract agree to a mark-up. Without such mark-up, the services performed are

under-market; however, this is acceptable, since neither party is suffering a

detriment. So that the Customer can independently gauge the below-market,

objective allocation of costs, detail of salary and time allocations will be

provided as requested. Should such objective allocations change prior to

billings, Customer agrees to modify the next billing to "true up" billings to

the actual amounts of the new allocations.

 

         In consideration of the mutual promises set forth herein, Servicer and

Customer agree as follows:

 

 

 

SECTION 1 - SERVICES PROVIDED

-----------------------------

 

         1.2 Human Resources and Payroll Function. Human resources functions

will be provided. Management services include updating and maintaining human

resources policies and complying with all related legal requirements, including

the preparation of mandated governmental reporting. All payroll and payroll

related services will be provided. These services include all elements of the

preparation of payroll including maintaining personnel files, benefit

administration, and assistance in recruitment. All benefits administration will

also be centralized to maximize cost effectiveness.

 

 

 

SECTION 2 - OTHER SERVICES AND OBLIGATIONS

------------------------------------------

 

         2.1 Training. Servicer shall provide to Customer service standard

training programs for the purpose of training Customer's personnel in the proper

use of Servicer's procedures, systems and reports. Customer shall provide

competent personnel for such training and shall cooperate with Servicer in

properly scheduling such training in conjunction with Customer's conversion to

Servicer's standard training.

 

 

 

SECTION 3 - PAYMENT OF FEES

---------------------------

 

         3.1 Service Charges. Customer agrees to pay Servicer for the Services

in accordance with the charges set forth in Schedule A attached hereto. Payment

shall be due monthly u


SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>

Close this window