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Time and expense charges will be incurred only when <br />necessarily required in the form of adjuster fees. Time and <br />expense fees at the inception of the contract will be as <br />follows: <br /> <br /> a. Adjuster's Fee: $30.00 per hour <br /> b. Mileage: 40~ per mile <br /> <br /> c. Stenographic and Office Overhead: 30% of hourly <br /> rate (minimum $22.50) <br /> <br /> Telephone Expense: 8% of hourly rate <br /> Photographic Expense: $1.50 per colored print <br /> <br /> e. <br /> <br />f. Photocopy Expense: 30~ per page <br /> <br />g. Insurance: 2-1/2% of hourly rate <br />The claims administrator shall submit its <br /> <br /> time and expense <br />bills on a monthly basis and payment should be within a reasonable <br />period of time, not to exceed sixty (60) days. In the event a <br />claim is open six months, or exceeds 10 hours time, the claims <br /> <br />administrator shall submit an interim bill. <br /> VI. TERM <br /> <br /> The term of this agreement shall be from September 14, 1983, <br />to and including June 30, 1984. This contract shall be terminated <br />by either party, for any reason, upon thirty (30) days written <br />notice~ <br /> <br /> This contract may be renewed on its anniversary subject <br /> <br />to the same terms and conditions, except that Paragraph V, <br />PAYMENT FOR SERVICES~ herein may be renegotiated by the parties <br />hereto~ <br /> <br /> VII. INDEPENDENT CONTRACTOR <br /> <br /> In performing claims administration services, herein <br /> <br /> -3- <br /> <br /> <br />