6.1b. ERMUSR 09-09-2014 A \c)
Elk River
Municipal Utilities UTILITIES COMMISSION MEETING
TO: FROM:
Elk River Municipal Utilities Commission Theresa Slominski—Finance and Office Manager
John Dietz—Chair
Al Nadeau—Vice Chair
Daryl Thompson—Trustee
MEETING DATE: AGENDA ITEM NUMBER:
September 9, 2014 6.1b
SUBJECT:
Staff Update
DISCUSSION:
We had 2,579 credit card payment transactions in August, compared to 2,456 in July. The fee for
August should be $5802.75.
An update on the software conversion:
• The ABS (Accounting Business Solutions, or General Ledger) module of the
software conversion is complete. We are still learning much of the software
intricacies and have included our first set of financials with this packet. Two
members from NISC will be back September 22nd—September 26th for final
training and processing on our ABS module.
• The Customer Billing team was here for the analysis work August 6th through the
8th and it went well. There is still much to do and we have several follow-up
conference calls to schedule to finish this work for the billing module of the
software conversion.
• At our August Commission meeting I shared the buyout amount from our current
credit card provider for the termination of our association with them, effective
June 8th 2016. I have had further communication with them and they have revised
their number 10%. More information on that is attached with this update.
To update on the PCAs, we have received high PCAs every month through July in 2014. (At the
time of writing this memo August information has not been received.)With the July bill, the
accumulated total was $832,328. We charged 6 mils in May collecting $130,131, 6 mils in June
collecting $131,188, 2 mils in July collecting $46,277, and 1 mil in August collecting$26,080.
This leaves us the uncollected balance at$498,652. If we receive no other PCAs, we are at the
$500,000 we established as the amount we were willing to absorb. We will continue to monitor
this and provide the updated balances.
On August 27th I attended the annual insurance pool meeting where I received our 2015 renewal
projections for our health insurance. We had high claims last year and so we have an increase of
P0WEDED 01
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rIt Elk Riv* (,),
Municipal Utilities UTILITIES COMMISSION MEETING
TO: FROM:
Elk River Municipal Utilities Commission Troy Adams, P.E. —General Manager
John Dietz—Chair
Al Nadeau—Vice Chair
Daryl Thompson—Trustee
MEETING DATE: AGENDA ITEM NUMBER:
September 9, 2014 6.1a
SUBJECT:
Staff Updates—General Manager
DISCUSSION:
• The issue that was added to the September Commission meeting agenda by Commission
Chair John Dietz regarding unbilled irrigation water for the Chamber of Commerce has
been resolved. An estimate had been calculated and the Chamber of Commerce was
agreeable to pay the estimated amount.
• As the current Chair of the Board of Directors for the Midwest Municipal Transmission
Group(MMTG), the organization that fought for ERMU's right to own transmission, I
am planning the agenda for their annual meeting. The annual meeting will be held in
October or November at the MMUA offices in Plymouth, MN.
• Over the past few years Minnesota Municipal Utilities Association(MMUA) and
Minnesota Rural Electric Association(MREA)have put aside the difference of their
memberships regarding electric service territory to combine efforts to do great things like
training and joint activism. The two agencies have made the next steps in improving the
relationships of their members by inviting representatives of each agency to each other's
annual meetings. Jack Kegel, MMUA Executive Director, and Bill Black, MMUA
Government Relations Director, were invited the 2014 MREA Rural Electric
Management Association(REMA) CEO Fall Conference to make a presentation on
Opportunities for partnerships among cooperatives and municipals. Jack Kegel was not
able to attend. Because I am currently the highest ranking municipal manager in the
state, Jack asked me to fill in for him in representing MMUA. There are numerous topics
of interest on the agenda for the meeting including multiple involving electric service
territory issues. I will provide an update at the time of the ERMU Commission meeting.
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9.9%. The calculated rate increase was 15.1%and because of our participation in the pool, it
was limited to 9.9%. This is for both plans and is an increase of$53,298, 75% for the employer
would be $39,974 and 25% for the employees would be $13,324. The summary of the rate
changes are attached. If we want to explore options either in the exchange market outside of the
pool, or different options within the pool,please let me know so I can bring back options to the
wage and benefits committee, and then recommendations to the commission for a decision in
October. A decision later than October would not provide enough time to make the necessary
adjustments for the next year with all the contract paperwork now required within the insurance
arena.
ATTACHMENTS:
• Paymentus Buyout Information
• Paymentus Amending Agreement
• Paymentus Master Services Agreement
• Paymentus Notice of Non-Renewal
• NISC Cost Comparison Estimate
• Health Insurance Renewal Rates Summary
•
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Paymentus buyout information
I have attached the amendment that I received from Paymentus, after two separate discussions
with their staff and CEO regarding our request for a revised payout amount. As you can see,
they are not inclined to offer anything more than a"discount"of 10%, for a total of$97,493,
revised from$108,326. The reasons they offer are that 1)we are committed to a three year
contract ending June 2016 and we are the ones breaching the contract, 2)the plans and staffing
they currently have in place are based on the current contracts and we are untimely in changing
that basis.
While we are not pleased with the buyout amount they have provided, the leverage is on their
side. The contract is attached which states that they have exclusive rights to process our credit
card transactions for the term of the contract. It is in Definition 1.1 of the contract where it states
that Paymentus is"to be the exclusive provider of services", which exempts us from using NISC
instead of, or even in conjunction with, Paymentus.
Looking forward to our processing with NISC and the benefits we will recognize in processing
the credit card transactions through them, I have attached the Cost Comparison Estimate that
NISC provided during the proposal stage of the decision making process. This is an estimate
based on volume assumptions and credit card type assumptions and so cannot be taken as
assurance, however NISC felt very strongly that this was a conservative estimate of the money
they could save us. Currently, we are spending an average of$6,770 per month for Paymentus to
process our credit card transactions: processing fees (—$6,000)and bill presentment fees($750).
The NISC processing fees (per attached) are estimated to be $2,200 per month, which would be a
savings of$3,800, annually$45,600. The monthly presentation will be saving $750 per month,
annually $9,000. With these savings, alone we should recoup our buyout cost in two years.
There will also be the efficiencies gained in the processing of customer payments through NISC
that is hard to quantify in dollars but certainly worth mentioning as a gain to be recognized. The
payments processed through credit cards will automatically and instantaneously be posted to the
customer accounts, reducing the current 24 hour time delay to retrieve the file and post it, and the
staff time to do it. Our customers will have more current information, as will we.
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Paymentus
AMENDING AGREEMENT
Customer: City of Elk River Municipal Utility
Customer Address: 13069 Orono Parkway
Elk River, MN. 55330
Contact for Notices to Customer: Theresa Slominski
This Amending Agreement is entered into as of effective date below, by and between the Customer
("Customer')identified above and Paymentus Corporation,a Delaware Corporation("Paymentus").
WHEREAS:
A-The Parties entered into a Master Services Agreement dated April 16, 2010.
B—The Parties now wish to amend the Term of the Master Service Agreement to expire effective
February 2, 2015.
C—The Parties now agree that an early cancellation fee in the amount of$97,493.00 shall be
paid in full to Paymentus Corporation on or by November 3, 2014, otherwise, this Amending
Agreement shall be considered revoked and the remaining term, in accordance with the Master
Service Agreement, shall be enforced.
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the receipt
and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound,
hereby covenant and agree as follows:
Except for Term and Early Cancellation fee as provided in this Amending Agreement, all
provisions of the Master Service Agreement remain in full force and effect, un-amended.
IN WITNESS WHEREOF,the parties have caused this Agreement to be executed by their duly
authorized representatives
Customer: Paymentus:
By: By:
Name: Name:
Title: Title:
Date: Date:
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Paymentus
The Real-Time ttiil Payment Company
MASTER SERVICES AGREEMENT
Customer; Elk River Municipal Utilities
Customer Address: 13069 Orono Parkway,PO Box 430,Elk River MN 55330
Contact for Notices to Customer: Theresa Slominekl or Grog Schorbor
Estimated Yearly flits/Invoices: 90,000
This Master Services Agreement ("Master Agreement")is entered into as of the Effective Date bolow,
by and between the Customer ("Customer) Identified above and Paymentus Corporation, a Delaware
Corporation("Paymentus").
WHEREAS Paymentus desires to provide and the Client desires to receive certain services under the
terms and conditions set forth in this Agreement, Paymentus provides electronic bill payment services to
utilities,municipalities,Insurance and other businesses.
NOW THEREFORE,in consideration of the mutual covenants hereinafter set forth,the receipt and
sufficiency of which are hereby acknowledged,the parties,Intending to be legally bound,hereby covenant
and agree as follows. This Agreement consists of this signature page,General Terms and Conditions,and
the attachments('Attachments')with schedules("Schedules")listed below:
Schedule A:Paymentus Service Foe Schedule
This Agreement represents the entire understanding between the parties hereto with respect to its
subject matter and supersedes ail other written or oral agreements heretofore made by or on behalf of
Paymentus or Customer with respect to the subject matter hereof and may be changed only by agreements
in writing signed by the authorized representatives of the parties.
IN WITNESS WHEREOF,the parties have caused this Agreement to be executed by their duly
authorized representatives
Customer: Paymentus: 1
By:
By:
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Paymentus
The ttea•fime Dill Payment Company
GENERAL TERMS AND CONDITIONS
1 Definitions:
For the purposes of This Agreement, the following terms and words shall have the meaning
ascribed to them,unless the context clearly indicates otherwise.
1.1 "Agreement"or"Contract"shall refer to this Agreement,as amended from time to limo,which
shall constitute an authorization For the term of this contract for Paymentus to be the exclusive
provider of services,stated herein,to the Customer
1.2 "User"shall mean the users of the Customer's services
1.3 "Effective Data" shall be the loot date upon which the parties signed this Agreement. Tho
Agreement will not be effective agahisl any party until the said date
14 "Launch Dates shall be the date on which Customer launches this service to the Users
1.5 "Payment"shall mean Users to make payments for Customer's services or Customer's bills
1.6 "Payment Amount"shell moan the brit amount User wants to pay to tho Customer.
1.7 "Services"shall include the performance of the Services outlined in section 2 of this Agreement
1.8 "Paymentus Authorized Processor" shall mean a Paymontus authorized merchant account
provider and payment processing gateway
1,0 "Reversed or Charged-back Transactions"shall mean cancelled transactions due to User error,
or a User's challenge to Payment authenticity.
1.10 "Average Bill Amount"shall mean the total amount of Payments collected through Paymentus
system in a given month divided by the number of the Payments for the same month.
2 Description of Services to be performed
2.1 Scope of Services
Paymentus shall provide Users the opportunity to make Payments by Credit Cards and other
payment methods as downed necessary by Paymentus. Payments may be made by Interactive Telephone
Voice Response System("IVR")or secure Internet Interface provided at the Paymentus Corporation's web
site or other websites part of Paymentus'Instant Payment Network('WebSltes"),collectively referred to as
the("System").
Paymentus shall,on behalf of the Customer,collect and process Payments from Users using Visa,
MasterCard or other credit cards ("hereinafter referred to as a "Card"), Paymentus may also offer other
payment options such as oChocks or Debit Cards.
2.2 - Professionalism
Paymontus shall potion in a professional manner all Services required to be performed under this
Agreement.
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C: Paymen't s
11w Nat-Time Bill Payment Company
3 Compensation
3.1 No Cost Installation
Paymentus will charge no foes related to the Initial setup and personalization of Its standard service
for both Web and IVR interfaces.
3.2 Paymentus Service Fee
System will charge each User a Service fee for each transaction processed (hereinafter called
"Paymenlus Service Foo").Such Paymontus Service Foo is to be collected in addition to the corresponding
Payment as part of the transaction.
For each payment, the Paymentus Service Fee collected will bo used to pay the corresponding
Credit Card transaction fees or transaction fees associated with Debit Cards or eChecks(hereinafter called
"Transaction Fees") except NSF tees and processing charges related to Paymentus (hereinafter called
"Paymentus Fees").
A schedule of Paymontus Service Fee is attached hereto as Schedule A. Paymentus and
Customer may mutually review Paymentus Service Foo schedule at regular Intervals.However,Paymenlus
can amend this schedule upon prior written notice to the Customer, If such change is required due to
changes In tho Visa and MasterCard regulations or changes In Credit Card fees or changes In the Average
Dili Amount.
4 Payment Processing
4.1 Explicit User Confirmation
Paymentus shall confirm the dollar amount of all Payments and the corresponding Paymentus
Service Fee to be charged to a Card and electronically obtain the User approval of such charges prior to
initiating Card authorizations transaction. Paymontus wilt provide User with electronic confirmation of all
transactions.
4.2 Merchant Account
Paymentus will arrange for the Customer to have a merchant account with the Paymentus
Authorized Processor for processing and settlement of the credit card transactions.
4.3 Card Authorization
For authorization purposes, Paymenlus will electronically transmit all Card transactions to the
appropriate Card processing center,In real time as the transactions occur.
4.4 Settlement
Paymontus together with Its authorized Card processor shall forward the payment transactions and
corresponding Paymentus Service Fee to the appropriate card organizations for settlement directly to the
Customer's depository bank account previously designated by the Customer (hereinafter the 'Customer
Bank Account").
Paymentus together with Paymontus Authorized Processor will continuously review Its settlement
and direct debit processes for Its simplicity and efficiencies. Customer and Paymontus agree to fully co-
operate with each other If Paymentus were to change Its settlement and Invoicing processes.
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i+.
Paymentus
The Real-time Bid Payment company
4.5 Reversed or Chargeback Transactions
Reversed or Chargeback Transactions can bo reversed by the Customer using the Paymentus
software provkied("Agent Dashboard"),The Payment Amount will be refunded to the Usor,however,except
In the case of a Substantiated Chargeback transaction as defined below,the Paymenlus Service Fee is non-
refundable,and therefore the corresponding Paymentus Service foes will not be refunded to the User.The
remittance file will contain a record of any such transaction whenever such transactions occur.
With respect to all Chargeback Card Transactions that are substantiated by a User and approved
by an authorized representative of Paymentus and the Customer ("Substantiated Chargeback"): (i) the
Customer authorizes Paymentus and Paymentus Authorized Processor (and/or the respective card
organization)to debit the Customer Bank Account for tiro amount of the corresponding Payment and(II)
Paymontus shall refund to the Card organization for credit back to the User the corresponding Paymentus
Service Fees. Tito Customer agrees that it shall not refund In cash to a User any Payment made using
Paymentus'Services, Since Paymentus receives no revenue from any Payment that is charged back, the
Customer will bo responsible for the fees associated with Chargeback processing by Paymonlus Authorized
Processor.
Paymontus together with Paymentus Authorized Processor will continuously review its processes
for Reversed or Chargoback transactions,for simplicity and efficiencies.Customer and Paymentus agree to
fully co-operate with each other if Paymenlus requires any change Its settlement and Invoicing processes for
such transactions.
5 General Conditions of Services
5.1 Service Reports
Paymontuc shall provide Customer with reports summarizing use of the Services by Users for n
given reporting period.
5.2 User Adoption Communication by Customer
Customer will make Paymentus'Services available to Its residential and commercial customers by
different means of customer communication including a) through bills, invoices and other notices; b) by
providing AM and Web payment details on the Customer's wobslts including a'Pay Now"or similar link on a
mutually agreed prominent place on the web site;c)through customer's general IVR/Phone system;and d)
other channels deemed appropriate by the Customer,
Paymentus shall provide Customer with logos, graphics and other marketing materials for
Customer's use In its communications with its users regarding the Services and/or Paymentus.
Both parties agree that Paymentus will be presented as a payment method option. Customer will
communicate Paymontus option to its end residential and commercial customers wherever Customer
usually communicates its other payment methods.
5.3 Independent Contractor
Customer and Paymentus agree and understand that the relationship between both parties is that
of an Independent contractor.
5.4 Customer's Rasponsibillties
in order for Paymentus to provide Services outlined in ells Agreement, the Customer shall co-
operate with Paymentus by:
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(6 Paymentus
The Reat•Ti,zro Bill Paymonl Company
(i) Customer will enter into all applicable merchant Card or cash management agreements.
(II) For the duration of this Agreement,Customer will keep a bill payment link connecting to
Paymontus System at a prominent and mutually agreed location on the Customer wobsile.
The phone number for the IVR payment will also be added to the web silo.Customer will
also add the IVR payment option as part of the Customer's general phone system.
(Ill} UsorAdoption marketing as described in 6.2.
(iv) Within 30 days of the merchant account setup, Customer will launch the service to the
Users.
6 Governing Laws
This Agreement shall be governed by the laws of the state of Delaware.
7 Communications
7.1 Authorized Representative
Each party shall designate an individual to act as a representative for the respective party,with the
authority to transmit Instructions and receive information,The parties may from lime to time designate other
Individuals or change the individuals.
7.2 Notices
All notices of any type hereunder shall be in writing and shall be given by Post or by hand delivery
to an Individual authorized to receive mall for the below listed individuals,all to the following Individuals at
the following locations:
To Customer
do Theresa Slomtnski
Elk River Municipal Utilities
PO Box 430,13069 Orono Parkway
Elk River,MN,653300430
763-441-2020(Phone)
743.441.8090(Fax)
To Paymentus
c/a President and CEO
3455 Peachtree Road N.E. 5°'Floor
Atlanta,GA 30326
(888)476-8910(Phone)
(877)882-1678(Fax)
Notions shall be declared to have been given or received on the date the notice is physically received If
given by hand delivery,or If notices given by US Post,then notice shall be deemed to have been given upon
on date said notice was deposited In the mall addressed In the manner sot forth abovo.Any party heroic by
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PaYMentUS
'ilia Real-limo fill Paynroet Company
giving notice in the manner set forth herein may unilaterally change the name of the person to whom notice
is to be given or the address at which the notice ie to be received,
7.3 Interpretation
It is the Intent of the parties that no portion of this Agreement shall be interpreted more harshly
against either of the parties as the drafter.
7.4 Amendment of Agreement
Modifications or changes in this Agreement must bo in writing and executed by the parties bound to
this Agreement.
7.5 Sevorabllity
If a word, sentence or paragraph heroin shall be declared unenforceable, or
unconstitutional, the said word, sentonce or paragraph shall be severed from this Agreement, and this
Agreement shall be read as If said word,sentence or paragraph did not exist.
7.6 Attorney's Fees
Should any litigation arise concerning this Agreement between the parties hereto, the parties agree
to bear their own costs and attorney's fees.
7.7 Confidentiality
Customer will not disclose to any third party or use for any purpose Inconsistent with this
Agreement any confidential or proprietary non-public Information it obtains during the term of this Agreement
about Paymentus' business, operations, financial condition, technology, systems, no-how, products,
services, suppliers, customers, marketing data, plans, and models, and personnel. Paymentus will not
disclose to any third party or use for any purpose inconsistent with this Agreement any confidential User
information It receives in connection with Its performance of the services.
7.8 intellectual Property
in order that the Customer may promote the Services and Paymentus role in providing the
Services, Paymentus grants to Customer a revocable, non-exclusive, royalty-free, license to use
Paymentus'logo and other service marks(the"Paymentus Marks")for such purpose only.Customer does
not have any right,title,license or interest,express or Implied In and to any object code,software,hardware,
trademarks, service mark, trade name, formula, system, know-how, telephone number, telephone line,
domain name,URL,copyright image,text,script(including,without limitation,any script used by Paymentus
on the IVR or the WobSite) or other intellectual property right of Paymentus ("Paymentus Intellectual
Properly"), All Paymentus Marks, Paymentus Intellectual Properly, and the System and all rights therein
(other than rights expressly granted herein)and goodwill pertain thereto belong exclusively to Paymentus.
7.9 Force Majeure
Paymentus will bo excused from performing the Services as contemplated by this Agreement to the
extent its performance is delayed,unpaired or rendered impossible by acts of God or other events that are
beyond Paymentus'reasonable control and without its fault or judgment,including without limitation, natural
disasters,war,terrorist acts,riots,acts of a governmental entity(In a sovereign or contractual capacity),fire,
storms, quarantine restricttons, floods, explosions, labor strikes, labor walkouts, extra-ordinary losses
utilities (including telecommunications services), external computer "hacker" attacks, and/or delays of
common carrier.
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C Paymentus
The Roall ime 13111 Payment Company
7,10 Time of the Essence
Paymentus and Customer acknowledge and agree that limo is of the essence for the completion of
the Services to be performed and oaoh parties respective obligations under this Agreement.
8 Indemnification
8.1 Paymentus Indemnification and Hold Harmless
Paymentus agrees to the fullest extent permitted by law, to indemnify and hold harmless the
Customer and its governing officials, agents, employees, and attorneys (collectively, the "Customer
Indemnitees") from and against all liabilities, demands, losses, damages, costs or expenses (including
reasonable attorney's fees and costs),Incurred by any Customer Indenmltee as a result or arising out of(i)
the willful misconduct or negligence of Paymentus In performing the Services or(II)a material broach by
Paymontus of its covenants.
8.2 Customer Indemniflcatlon and Hold Harmless
Customer agrees to the fullest extent permitted by law,to Indemnify and hold harmless Paymontus,
its affiliates, officers, directors, stockholders, agents, employees, and representatives, (collectively, the
"Paymontus Indomnitees")from and against all liabilities, demands, losses, damages,costs or expenses
(including without limitation reasonable attorney's fees and expenses) Incurred by any Paymontus
Indernniteo as a result or arising out of(I)the willful misconduct or negligence of Customer related to the
Services or(ii)a material breach of Customer's covenants,
8.3 Warranty Disclaimer
Except as expressly set forth In this Agreement,Paymontus disclaims all other representations or
warranties,express or implied, made to the Customer or any other parson,including without limitation,any
warranties regarding quality,suitability,merchantability,fitness,for a particular purpose or otherwise of any
services or any good provided incidental to the Services provided under this Agreement.
8.4 Limitation of Liability
Notwithstanding the foregoing, the parties agree that neither party shall be liable to the other for
any lost profits,lost savings or other special,indirect or consequential damages,even If the party has been
advised of or could have foreseen the possibility of such damages.Paymentus'total liability for damages for
any and all actions associated with tills Agreement or the Services shall in no event exceed the specific
dollar amount of the Paymontus Service Foe paid to Paymontus for the particular payment transaction which
Is the subject matter of the claim of damage.
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C Paymentus
'rho Real-Tinto Bill f>ayrrtoal Company
9 Term and Termination
9,1 Term
The torm of this Agreement shall commence on the effective date of this Agreement and continue for a
period of 3(three)years("Initial Term")from the Launch Date. Services under this Agreement shall begin
within 30 clays of the merchant account setup.
At rho end of the Initial Term,this Agreement will automatically renew for successive three (3)year
periods unless either Customer or Paymentus provide the other party with not less than 6(six)months prior
written notice before such automatic renewal date that such party elects not to automatically renew the term
of this Agreement.
9.2 Material Breach
A material breach of this Agreement shall bo cured within 90(ninety)days("Cure Period")after a
party notifies the other of such breach. In the event, such material breach has not been cured within the
Cure Period,the non breaching party can terminate this Agreement by providing the other party with a 30
(thirty)days notice.
9.3 Upon TormInation
Upon termination of this Agreement,the parties agree to cooperate with one another to ensure that
all Payments are accounted for and all refundable transactions have boon completed. Upon termination,
Paymentus shall cease all Services being provided hereunder unless otherwise directed by the Customer in
writing.
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2600 US Bancorp Center Peter K Beck Pete
800 Nioollet Mall Attorney at L a W 612-991-1350 teckiaw,com
Minneapolis,MN 55402 www.peterbeckiawcom
June 6,2014
Paymentus
do President and CEO
3455 Peachtree Road NE
5th Floor
Atlanta,GA 30326
Re: Notice of Non Renewal
Dear Sir:
This letter is written on behalf of Elk River Municipal Utilities("ERMU"). On April 10,
2010, Paymentus and ERMU entered into the enclosed Master Services Agreement
("Agreement").
Pursuant to Section 9.1 of the Agreement, the Agreement was in effect for three years
and automatically renewed at the end of three years. Therefore, the Agreement currently runs
until April 19,2016.
This letter constitutes ERMU's written notice, in compliance with and pursuant to
Section 9.1 of the Agreement, that ERMU elects not to automatically renew the Agreement
beyond April 19,2016,and will not be renewing the Agreement beyond that date.
Please contact the undersigned or Theresa Slominski, ERMU's Finance Director, if you
have any questions.
Very truly yours,
PETER K. o CK ATTORNEY AT LAW PLLC
By: Ys
Peter K. Beck
PKB:tk
cc: Theresa Slominski
Finance and Office Manager,ERMU
Troy Adams
General Manager, ERMU
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Visa-Interchange(average of 65%of all card brands)
3% NON-QUALIFIED-FOREIGN 5242.56 40 0.00 1.95% 102.23
45% UTILITIES CREDIT 78638.33 605 0.65 0.00% 393.37
23% UTILITIES DEBIT 40192.93 309 0.65 0.00% 201.06
23% REGULATED DEBIT 40192.93 309 0.22 0.05% 88.15
6% UTILITIES BUSINESS 10485.11 81 1.50 0.00% 121.04
Subtotal $174,751.85 1345 $905.84
Mastercard-Interchange(average of 30%of all card brands)
3% NON-QUALIFIED-FOREIGN 2419.64 19 0.00 2.65% 64.12
30% UTILITIES DEBIT 24196.41 186 0.45 0.00% 83.79
30% REGULATED DEBIT 24196.41 186 0.22 0.05% 53.06
31% ENHANCED UTILITIES 25002.96 192 0.65 0.00% 125.07
6% WORLD BUSINESS UTILITIES 4839.28 37 1.50 0.00% 55.86
Subtotal $80,654.70 621 $381.91
Discover-Interchange(average of 5%of all card brands)
3% NON-QUALIFIED-FOREIGN 403.27 3 0.10 1.92% 8.05
91% UTILITIES CREDIT/DEBIT 12232.63 94 0.75 0.00% 70.60
6% COMMERCIAL UTILITY 806.55 6 1.50 0.00% 9.31
Subtotal $13,442.45 103 $87.97
Total Interchange Fees $268,849.00 2069 {°'`_";t':i'? y ,4=., A
f '. qi":',� ! 'SLs.. 4 � r'kj.v rr,�i f�.0 �r3" iy2vs. t r�4 f j. i..l �S F s i`y.,N,, y,. .b". ;I rtJ " 4�� P�.'1�u ��� ,G y ''' ,i�, x . {"f ��i��r`l';I�� 1e �' r `I°L � 141, t P ly I CT gr'dl°' I. ra`r ' S.,. ,..�1, 1. ,' , ( ,N• tll?` r� Lk QPOA�: k§L ,7 _ ) 7 A, b cli, t t,:. ;ar?Fk t: t M1,�r'.�oi 114'
_.x t.'rrih.L•.. a , d. F ,. Ake) t&tg
Visa Assessment Fee 174751.85 1345 0.02 0.001100 221.82
MasterCard Assessment Fee 80654.70 621 0.02 0.001100 101.75
Discover Assessment Fee 13442.45 103 0.02 0.001000 15.35
Total Assessment Fees $268,849.00 2069 INStraNS, 7
; i;>i` 3r;�ykt'rwk s:'%:tr,Xu , s +art.mt'} e^ 'n, <,n._5:3 t+�;}t w:5_._ Try i , 'p s s �xm'�, i iW+t,:412._ rry`? iyt l¢(,�j°I'l. ? ,'�i,,r„�Y}� . ,. r �4� .,ri 5r�i x�iy�, ; .wit ?i a .rf>r. 4 4 jx f'i 4 � �'1 '�`,ti.`',,1, 1'•'i o , �7 kY �' '$.Il,t 3" t rie =?-1/r ity y,B `yeti jet... .. } °-Y''!�ii: , d# .+1 uY t 4tyE+;,( •C S 1, fil 1 k R4 f ry� .ai i it? F if M+c d,:CY,,�fg[F p h 1 i-gAwa Y ? t i� Y , 1
,,y. � � „k 1 kY'i „ �,kltej. o01 . . r ,.I° k , I iz�� �� ' �'°� .+Y.e,..'�,^,:..,.,,,t r. r ei.... ,yri �� ...>,a.ti,.:,? ..e,::t`, .< <i. ?,�ti.;+ttr...7 :}Olt F.,, t .�•.+[[
Visa Authorization 1345 0.20 $268.97
Mast erCard Authorization 621 0.20 $124.14
Discover Authorization 103 0.20 $20.69
AVS Fee 2069 0.01 $20.69
Total Gateway Fees Miteelagita
M 0i i..:., ,.'4. :'.41). [i... '%rii` ? ,%+j .. ti 9 L ? 1..-$ G+1 C. M n..n J , /1pFD e „ h fir Ae.L Q e T A
Annual Compliance Fee(prorated monthly) 3.23
NSF Fees(Qty 10) 30.00
Visa FANF Fee(changes monthly with volume) 50.00
Total Monthly Fixed Fees 5.>`, ' .L;,
FIRST DATA
COST
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