118-26 Agreement - Paster -redlined.doc.pdf

2. CONSIDERATION The Township shall compensate the Professional $175.00 per hour for the services of all attorneys and $85.00 per hour for the services of all paralegals/law clerks. For representation of the Township in its general legal matters, the Professional shall be paid an annual retainer in the amount as set forth in the current salary ordinance for the Township, currently $31,500.00 per year, to be paid in twelve equal monthly installments, each in the amount of $2,625.00, each installment due on the 1st day of the month. For matters of litigation, arbitration or mediation in which the Professional performs legal services for the Township in an adversarial setting, the Professional shall be paid at the hourly rate of $175.00 for those legal services reasonably necessary to provide competent and adequate representation of the Township’s interests, payment for all such services to be subject to governing body approval. 3. PAYMENT Payment shall be made by the Township within thirty (30) days of the receipt and approval of itemized bills and vouchers. No payments may be made in advance of services pursuant to N.J.S.A. 40A: 5-16. 4. NOT-TO EXCEED AMOUNT Total compensation under this Agreement shall not exceed $120,000.00 (the “Not-to- Exceed Amount”) without a further written encumbrance and additional authorization by resolution of the Township Council. 5. TERM The term of this agreement shall be from January 1, 2026, through December 31, 2026, unless earlier terminated in accordance with the provisions set forth in Section 16, below. 6. NEW JERSEY LAW This Agreement shall be governed by and construed in accordance with the laws of the State of New Jersey notwithstanding any provisions of such laws relating to jurisdiction. 3