Common use of Requiring Minimum Compensation for Covered Employees Clause in Contracts

Requiring Minimum Compensation for Covered Employees. The Bank agrees to comply fully with and be bound by all of the provisions of the Minimum Compensation Ordinance (“MCO”), as set forth in San Francisco Administrative Code Chapter 12P (Chapter 12P), including the remedies provided, and implementing guidelines and rules. The provisions of Chapter 12P are incorporated herein by reference and made a part of this Agreement as though fully set forth. The text of the MCO is available on the web at xxxx://xxx.xxxxx.xxx/oca/lwlh.htm. Capitalized terms used in this paragraph and not defined in this Agreement shall have the meanings assigned to such terms in Chapter 12P. Consistent with the requirements of the MCO, the Bank agrees to all of the following: (i) For each hour worked by a Covered Employee during a Pay Period on work funded under this Agreement during the term of this Agreement, the Bank shall provide to the Covered Employee no less than the Minimum Compensation, which includes a minimum hourly wage and compensated and uncompensated time off consistent with the requirements of the MCO. For the hourly gross compensation portion of the MCO, the Bank shall pay at least $10.77 an hour beginning January 1, 2005 and for the remainder of the term of this Agreement. (ii) The Bank shall not discharge, reduce in compensation, or otherwise discriminate against any employee for complaining to the Commission or the City with regard to such compliance or anticipated compliance by such party with the requirements of the MCO, for opposing any practice proscribed by the MCO, for participating in proceedings related to the MCO, or for seeking to assert or enforce any rights under the MCO by any lawful means. (iii) The Bank understands and agrees that the failure to comply with the requirements of the MCO shall constitute a material breach by such party of the terms of this Agreement. The Commission, acting through the City’s Contracting Department, shall determine whether such a breach has occurred. (iv) If, within 30 days after receiving written notice of a breach of this Agreement for violating the MCO, the Bank fails to cure such breach or, if such breach cannot reasonably be cured within such period of 30 days, the Bank fails to commence efforts to cure within such period, or thereafter fails diligently to pursue such cure to completion, the Commission, acting through the City’s Contracting Department, shall have the right to pursue the following rights or remedies and any rights or remedies available under applicable law: (1) The right to charge the Bank an amount equal to the difference between the Minimum Compensation and any compensation actually provided to a Covered Employee, together with interest on such amount from the date payment was due at the maximum rate then permitted by law; (2) The right to set off all or any portion of the amount described in subparagraph (iv) of this paragraph against amounts due to the Bank under this Agreement; (3) The right to terminate this Agreement in whole or in part; (4) In the event of a breach by the Bank of the covenant referred to in subparagraph (ii) of this paragraph (i), the right to seek reinstatement of the employee or to obtain other appropriate equitable relief; and (5) The right to bar the Bank from entering into future contracts with the Commission for three years. Each of the rights provided in this subparagraph (iv) shall be exercisable individually or in combination with any other rights or remedies available to the Commission. Any amounts realized by the Commission pursuant to this subparagraph (iv) shall be paid to the Covered Employee who failed to receive the required Minimum Compensation. (v) The Bank represents and warrants that it is not an entity that was set up, or is being used, for the purpose of evading the intent of the MCO. (vi) The Bank shall keep itself informed of the current requirements of the MCO, including increases to the hourly gross compensation due Covered Employees under the MCO, and shall provide prompt written notice to all Covered Employees of any increases in compensation, as well as any written communications received by the Bank from the Commission, which communications are marked to indicate that they are to be distributed to Covered Employees. (vii) The Bank shall provide reports to the Commission in accordance with any reporting standards promulgated by the Commission or the City under the MCO, including reports on subcontractors. (viii) The Bank shall provide the Commission with access to pertinent records after receiving a written request from the Commission to do so and being provided at least five (5) business days to respond. (ix) The Commission may conduct random audits of the Bank. Random audits shall be (i) noticed in advance in writing; (ii) limited to ascertaining whether Covered Employees are paid at least the minimum compensation required by the MCO; (iii) accomplished through an examination of pertinent records at a mutually agreed upon time and location within ten (10) days of the written notice; and (iv) limited to one (1) audit of the Bank every two (2) years for the duration of this Agreement. Nothing in this Agreement is intended to preclude the Commission from investigating any report of an alleged violation of the MCO. (x) Any subcontract entered into by the Bank shall require the subcontractor to comply with the requirements of the MCO and shall contain contractual obligations substantially the same as those set forth in this paragraph. A subcontract means an agreement between the Bank and a third party which requires the third party to perform all or a portion of the services covered by this Agreement. The Bank shall notify the City’s Department of Administrative Services when it enters into such a subcontract and shall certify to the City’s Department of Administrative Services that it has notified the subcontractor of the obligations under the MCO and has imposed the requirements of the MCO on the subcontractor through the provisions of the subcontract. It is the obligation of the Bank to ensure that any subcontractors of any tier under this Agreement comply with the requirements of the MCO. If any subcontractor under this Agreement fails to comply, the Commission may pursue any of the remedies set forth in this paragraph against the Bank. (xi) Each Covered Employee is a third-party beneficiary with respect to the requirements of subparagraphs (i) and (ii) of this paragraph, and may pursue the following remedies in the event of a breach by the Bank of subparagraphs (i) and (ii), but only after the Covered Employee has provided the notice, participated in the administrative review hearing, and waited the 21-day period required by the MCO. The Bank understands and agrees that if the Covered Employee prevails in such action, the Covered Employee may be awarded: (i) an amount equal to the difference between the Minimum Compensation and any compensation actually provided to the Covered Employee, together with interest on such amount from the date payment was due at the maximum rate then permitted by law; (ii) in the event of a breach by the Bank of subparagraph (i) or (ii), the right to seek reinstatement or to obtain other appropriate equitable relief; and (iii) in the event that the Covered Employee is the prevailing party in any legal action or proceeding against the Representative arising from this Agreement, the right to obtain all costs and expenses, including reasonable attorney’s fees and disbursements, incurred by the Covered Employee. the Bank also understands that the MCO provides that if the Bank prevails in any such action, such party may be awarded costs and expenses, including reasonable attorney’s fees and disbursements, from the Covered Employee if the court determines that the Covered Employee’s action was frivolous, vexatious or otherwise an act of bad faith. (xii) If the Bank is exempt from the MCO when this Agreement is executed because the cumulative amount of agreements with this department for the fiscal year is less than $25,000 ($50,000 for nonprofits), but the Bank later enters into an agreement or agreements that cause contractor to exceed that amount in a fiscal year, the Bank shall thereafter be required to comply with the MCO under this Agreement. This obligation arises on the effective date of the agreement that causes the cumulative amount of agreements between the Bank and this department to exceed $25,000 ($50,000 for nonprofits) in the fiscal year.

Requiring Minimum Compensation for Covered Employees. The Bank Contractor agrees to comply fully with and be bound by all of the provisions of the Minimum Compensation Ordinance (“MCO”), as set forth in San Francisco Administrative Code Chapter 12P (Chapter 12P), including the remedies provided, and implementing guidelines and rules. The provisions of Chapter 12P are incorporated herein by reference and made a part of this Agreement as though fully set forth. The text of the MCO is available on the web Web at xxxx://xxx.xxxxx.xxx/oca/lwlh.htmxxxx://xxx.xxxxx.xxx/olse. Capitalized terms used in this paragraph Section and not defined in this Agreement shall have the meanings assigned to such terms in Chapter 12P. Consistent with the requirements of the MCO, the Bank Contractor agrees to all of the following: (i) a. For each hour worked by a Covered Employee during a Pay Period on work funded under this Agreement the TJPA contract during the term of this Agreement, the Bank Contractor shall provide to the Covered Employee no less than the Minimum Compensation, which includes a minimum hourly wage and compensated and uncompensated time off consistent with the requirements of the MCO. For Note that the gross hourly compensation for covered employees is $13.34 as of January 2016. If a Covered Employee of a Nonprofit Corporation works in San Francisco, then the gross hourly compensation portion as of the MCO, the Bank shall pay at least $10.77 an hour beginning January May 1, 2005 and for the remainder of the term of this Agreement2015, is $12.25 per hour. (ii) b. The Bank Contractor shall not discharge, reduce in compensation, or otherwise discriminate against any employee for complaining to the Commission or the City TJPA with regard to such the Contractor’s compliance or anticipated compliance by such party with the requirements of the MCO, for opposing any practice proscribed by the MCO, for participating in proceedings related to the MCO, or for seeking to assert or enforce any rights under the MCO by any lawful means. (iii) c. The Bank Contractor understands and agrees that the failure to comply with the requirements of the MCO shall constitute a material breach by such party the Contractor of the terms of this Agreement. The Commission, acting through the City’s Contracting Department, TJPA shall determine whether such a breach has occurred. (iv) d. If, within 30 thirty (30) days after receiving written notice of a breach of this Agreement for violating the MCO, the Bank Contractor fails to cure such breach or, if such breach cannot reasonably be cured within such period of 30 thirty (30) days, the Bank Contractor fails to commence efforts to cure within such period, or thereafter fails diligently to pursue such cure to completion, the Commission, acting through the City’s Contracting Department, TJPA shall have the right to pursue the following rights or remedies and any rights or remedies available under applicable law: (1) The right to charge the Bank Contractor an amount equal to the difference between the Minimum Compensation and any compensation actually provided to a Covered Employee, together with interest on such amount from the date payment was due at the maximum rate then permitted by law; (2) The right to set off all or any portion of the amount described in subparagraph Subsection (ivd)(1) of this paragraph Section against amounts due to the Bank Contractor under this Agreement; (3) The right to terminate this Agreement in whole or in part; (4) In the event of a breach by the Bank Contractor of the covenant referred to in subparagraph Subsection (iib) of this paragraph (i)Section, the right to seek reinstatement of the employee or to obtain other appropriate equitable relief; and (5) The right to bar the Bank Contractor from entering into future contracts with the Commission TJPA for three years. Each of the rights provided in this subparagraph (iv) shall be exercisable individually or in combination with any other rights or remedies available to the Commission. Any amounts realized by the Commission pursuant to this subparagraph (iv) shall be paid to the Covered Employee who failed to receive the required Minimum Compensation. (v) The Bank represents and warrants that it is not an entity that was set up, or is being used, for the purpose of evading the intent of the MCO. (vi) The Bank shall keep itself informed of the current requirements of the MCO, including increases to the hourly gross compensation due Covered Employees under the MCO, and shall provide prompt written notice to all Covered Employees of any increases in compensation, as well as any written communications received by the Bank from the Commission, which communications are marked to indicate that they are to be distributed to Covered Employees. (vii) The Bank shall provide reports to the Commission in accordance with any reporting standards promulgated by the Commission or the City under the MCO, including reports on subcontractors. (viii) The Bank shall provide the Commission with access to pertinent records after receiving a written request from the Commission to do so and being provided at least five (5) business days to respond. (ix) The Commission may conduct random audits of the Bank. Random audits shall be (i) noticed in advance in writing; (ii) limited to ascertaining whether Covered Employees are paid at least the minimum compensation required by the MCO; (iii) accomplished through an examination of pertinent records at a mutually agreed upon time and location within ten (10) days of the written notice; and (iv) limited to one (1) audit of the Bank every two (2) years for the duration of this Agreement. Nothing in this Agreement is intended to preclude the Commission from investigating any report of an alleged violation of the MCO. (x) Any subcontract entered into by the Bank shall require the subcontractor to comply with the requirements of the MCO and shall contain contractual obligations substantially the same as those set forth in this paragraph. A subcontract means an agreement between the Bank and a third party which requires the third party to perform all or a portion of the services covered by this Agreement. The Bank shall notify the City’s Department of Administrative Services when it enters into such a subcontract and shall certify to the City’s Department of Administrative Services that it has notified the subcontractor of the obligations under the MCO and has imposed the requirements of the MCO on the subcontractor through the provisions of the subcontract. It is the obligation of the Bank to ensure that any subcontractors of any tier under this Agreement comply with the requirements of the MCO. If any subcontractor under this Agreement fails to comply, the Commission may pursue any of the remedies set forth in this paragraph against the Bank. (xi) Each Covered Employee is a third-party beneficiary with respect to the requirements of subparagraphs (i) and (ii) of this paragraph, and may pursue the following remedies in the event of a breach by the Bank of subparagraphs (i) and (ii), but only after the Covered Employee has provided the notice, participated in the administrative review hearing, and waited the 21-day period required by the MCO. The Bank understands and agrees that if the Covered Employee prevails in such action, the Covered Employee may be awarded: (i) an amount equal to the difference between the Minimum Compensation and any compensation actually provided to the Covered Employee, together with interest on such amount from the date payment was due at the maximum rate then permitted by law; (ii) in the event of a breach by the Bank of subparagraph (i) or (ii), the right to seek reinstatement or to obtain other appropriate equitable relief; and (iii) in the event that the Covered Employee is the prevailing party in any legal action or proceeding against the Representative arising from this Agreement, the right to obtain all costs and expenses, including reasonable attorney’s fees and disbursements, incurred by the Covered Employee. the Bank also understands that the MCO provides that if the Bank prevails in any such action, such party may be awarded costs and expenses, including reasonable attorney’s fees and disbursements, from the Covered Employee if the court determines that the Covered Employee’s action was frivolous, vexatious or otherwise an act of bad faith. (xii) If the Bank is exempt from the MCO when this Agreement is executed because the cumulative amount of agreements with this department for the fiscal year is less than $25,000 ($50,000 for nonprofits), but the Bank later enters into an agreement or agreements that cause contractor to exceed that amount in a fiscal year, the Bank shall thereafter be required to comply with the MCO under this Agreement. This obligation arises on the effective date of the agreement that causes the cumulative amount of agreements between the Bank and this department to exceed $25,000 ($50,000 for nonprofits) in the fiscal year.three

Requiring Minimum Compensation for Covered Employees. The Bank Contractor agrees to comply fully with and be bound by all of the provisions of the Minimum Compensation Ordinance (“MCO”), as set forth in San Francisco Administrative Code Chapter 12P (Chapter 12P), including the remedies provided, and implementing guidelines and rules. The provisions of Chapter 12P are incorporated herein by reference and made a part of this Agreement as though fully set forth. The text of the MCO is available on the web at xxxx://xxx.xxxxx.xxx/oca/lwlh.htm. Capitalized terms used in this paragraph Section and not defined in this Agreement shall have the meanings assigned to such terms in Chapter 12P. Consistent with the requirements of the MCO, the Bank Contractor agrees to all of the following: (i) a. For each hour worked by a Covered Employee during a Pay Period on work funded under this Agreement the City contract during the term of this Agreement, the Bank Contractor shall provide to the Covered Employee no less than the Minimum Compensation, which includes a minimum hourly wage and compensated and uncompensated time off consistent with the requirements of the MCO. For the hourly gross compensation portion of the MCO, the Bank Contractor shall pay at least $10.77 9.00 an hour beginning through December 31, 2001. On January 1, 2005 and for 2002, Contractor shall increase the remainder hourly gross compensation to $10.00 an hour; provided, however, that if Contractor is a Nonprofit Corporation or a public entity, it shall be required to pay the increased amount only if the City makes the finding required by Section 12P.3(a)(ii) of the term San Francisco Administrative Code. If Contractor is required to increase the gross hourly compensation to $10.00 an hour, it shall provide the 2.5% annual increase required by the MCO for each of this Agreementthe next three years. (ii) The Bank b. Contractor shall not discharge, reduce in compensation, or otherwise discriminate against any employee for complaining to the Commission or the City with regard to such Contractor’s compliance or anticipated compliance by such party with the requirements of the MCO, for opposing any practice proscribed by the MCO, for participating in proceedings related to the MCO, or for seeking to assert or enforce any rights under the MCO by any lawful means. (iii) The Bank c. Contractor understands and agrees that the failure to comply with the requirements of the MCO shall constitute a material breach by such party Contractor of the terms of this Agreement. The CommissionCity, acting through the City’s Contracting Department, shall determine whether such a breach has occurred. (iv) d. If, within 30 days after receiving written notice of a breach of this Agreement for violating the MCO, the Bank Contractor fails to cure such breach or, if such breach cannot reasonably be cured within such period of 30 days, the Bank Contractor fails to commence efforts to cure within such period, or thereafter fails diligently to pursue such cure to completion, the CommissionCity, acting through the City’s Contracting Department, shall have the right to pursue the following rights or remedies and any rights or remedies available under applicable law: (1) The right to charge the Bank Contractor an amount equal to the difference between the Minimum Compensation and any compensation actually provided to a Covered Employee, together with interest on such amount from the date payment was due at the maximum rate then permitted by law; (2) The right to set off all or any portion of the amount described in subparagraph Subsection (ivd)(1) of this paragraph Section against amounts due to the Bank Contractor under this Agreement; (3) The right to terminate this Agreement in whole or in part; (4) In the event of a breach by the Bank Contractor of the covenant referred to in subparagraph Subsection (iib) of this paragraph (i)Section, the right to seek reinstatement of the employee or to obtain other appropriate equitable relief; and (5) The right to bar the Bank Contractor from entering into future contracts with the Commission City for three years. Each of the rights provided in this subparagraph Subsection (ivd) shall be exercisable individually or in combination with any other rights or remedies available to the CommissionCity. Any amounts realized by the Commission City pursuant to this subparagraph (iv) subsection shall be paid to the Covered Employee who failed to receive the required Minimum Compensation. (v) The Bank e. Contractor represents and warrants that it is not an entity that was set up, or is being used, for the purpose of evading the intent of the MCO. (vi) The Bank f. Contractor shall keep itself informed of the current requirements of the MCO, including increases to the hourly gross compensation due Covered Employees under the MCO, and shall provide prompt written notice to all Covered Employees of any increases in compensation, as well as any written communications received by the Bank Contractor from the CommissionCity, which communications are marked to indicate that they are to be distributed to Covered Employees. (vii) The Bank g. Contractor shall provide reports to the Commission City in accordance with any reporting standards promulgated by the Commission or the City under the MCO, including reports on subcontractors. (viii) h. The Bank Contractor shall provide the Commission City with access to pertinent records after receiving a written request from the Commission City to do so and being provided at least five (5) business days to respond. (ix) i. The Commission City may conduct random audits of the BankContractor. Random audits shall be (i) noticed in advance in writing; (ii) limited to ascertaining whether Covered Employees are paid at least the minimum compensation required by the MCO; (iii) accomplished through an examination of pertinent records at a mutually agreed upon time and location within ten (10) days of the written notice; and (iv) limited to one (1) audit of the Bank Contractor every two (2) years for the duration of this Agreement. Nothing in this Agreement is intended to preclude the Commission City from investigating any report of an alleged violation of the MCO. (x) j. Any subcontract entered into by the Bank Contractor shall require the subcontractor to comply with the requirements of the MCO and shall contain contractual obligations substantially the same as those set forth in this paragraphSection. A subcontract means an agreement between the Bank Contractor and a third party which requires the third party to perform all or a portion of the services covered by this Agreement. The Bank Contractor shall notify the City’s Department of Administrative Services when it enters into such a subcontract and shall certify to the City’s Department of Administrative Services that it has notified the subcontractor of the obligations under the MCO and has imposed the requirements of the MCO on the subcontractor through the provisions of the subcontract. It is the Contractor’s obligation of the Bank to ensure that any subcontractors of any tier under this Agreement comply with the requirements of the MCO. If any subcontractor under this Agreement fails to comply, the Commission City may pursue any of the remedies set forth in this paragraph Section against the BankContractor. (xi) k. Each Covered Employee is a third-party beneficiary with respect to the requirements of subparagraphs subsections (ia) and (iib) of this paragraphSection, and may pursue the following remedies in the event of a breach by the Bank Contractor of subparagraphs subsections (ia) and (iib), but only after the Covered Employee has provided the notice, participated in the administrative review hearing, and waited the 21-day period required by the MCO. The Bank Contractor understands and agrees that if the Covered Employee prevails in such action, the Covered Employee may be awarded: (i1) an amount equal to the difference between the Minimum Compensation and any compensation actually provided to the Covered Employee, together with interest on such amount from the date payment was due at the maximum rate then permitted by law; (ii2) in the event of a breach by the Bank Contractor of subparagraph subsections (ia) or (iib), the right to seek reinstatement or to obtain other appropriate equitable relief; and (iii3) in the event that the Covered Employee is the prevailing party in any legal action or proceeding against the Representative Contractor arising from this Agreement, the right to obtain all costs and expenses, including reasonable attorney’s 's fees and disbursements, incurred by the Covered Employee. the Bank Contractor also understands that the MCO provides that if the Bank Contractor prevails in any such action, such party Contractor may be awarded costs and expenses, including reasonable attorney’s fees and disbursements, from the Covered Employee if the court determines that the Covered Employee’s action was frivolous, vexatious or otherwise an act of bad faith. (xii) l. If the Bank Contractor is exempt from the MCO when this Agreement is executed because the cumulative amount of agreements with this department for the fiscal year is less than $25,000 ($50,000 for nonprofits), but the Bank Contractor later enters into an agreement or agreements that cause contractor to exceed that amount in a fiscal year, the Bank Contractor shall thereafter be required to comply with the MCO under this Agreement. This obligation arises on the effective date of the agreement that causes the cumulative amount of agreements between the Bank Contractor and this department to exceed $25,000 ($50,000 for nonprofits) in the fiscal year.

Requiring Minimum Compensation for Covered Employees. The Bank Contractor agrees to comply fully with and be bound by all of the provisions of the Minimum Compensation Ordinance (“MCO”), as set forth in San Francisco Administrative Code Chapter 12P (Chapter 12P), including the remedies provided, and implementing guidelines and rules. The provisions of Chapter 12P are incorporated herein by reference and made a part of this Agreement as though fully set forth. The text of the MCO is available on the web at xxxx://xxx.xxxxx.xxx/oca/lwlh.htm. Capitalized terms used in this paragraph Section and not defined in this Agreement shall have the meanings assigned to such terms in Chapter 12P. Consistent with the requirements of the MCO, the Bank Contractor agrees to all of the following: (i) a. For each hour worked by a Covered Employee during a Pay Period on work funded under this Agreement the Authority contract during the term of this Agreement, the Bank Contractor shall provide to the Covered Employee no less than the Minimum Compensation, which includes a minimum hourly wage and compensated and uncompensated time off consistent with the requirements of the MCO. For the hourly gross compensation portion of the MCO, the Bank Contractor shall pay at least $10.77 9.00 an hour beginning through December 31, 2001. On January 1, 2005 and for 2002, Contractor shall increase the remainder hourly gross compensation to $10.00 an hour; provided, however, that if Contractor is a Nonprofit Corporation or a public entity, it shall be required to pay the increased amount only if the Authority makes the finding required by Section 12P.3(a)(ii) of the term San Francisco Administrative Code. If Contractor is required to increase the gross hourly compensation to $10.00 an hour, it shall provide the 2.5% annual increase required by the MCO for each of this Agreementthe next three years. (ii) The Bank b. Contractor shall not discharge, reduce in compensation, or otherwise discriminate against any employee for complaining to the Commission or the City Authority with regard to such Contractor’s compliance or anticipated compliance by such party with the requirements of the MCO, for opposing any practice proscribed by the MCO, for participating in proceedings related to the MCO, or for seeking to assert or enforce any rights under the MCO by any lawful means.with (iii) The Bank c. Contractor understands and agrees that the failure to comply with the requirements of the MCO shall constitute a material breach by such party Contractor of the terms of this Agreement. The CommissionAuthority, acting through the City’s Contracting Department, shall determine whether such a breach has occurred. (iv) d. If, within 30 days after receiving written notice of a breach of this Agreement for violating the MCO, the Bank Contractor fails to cure such breach or, if such breach cannot reasonably be cured within such period of 30 days, the Bank Contractor fails to commence efforts to cure within such period, or thereafter fails diligently to pursue such cure to completion, the CommissionAuthority, acting through the City’s Contracting Department, shall have the right to pursue the following rights or remedies and any rights or remedies available under applicable law: (1) The right to charge the Bank Contractor an amount equal to the difference between the Minimum Compensation and any compensation actually provided to a Covered Employee, together with interest on such amount from the date payment was due at the maximum rate then permitted by law; (2) The right to set off all or any portion of the amount described in subparagraph Subsection (ivd)(1) of this paragraph Section against amounts due to the Bank Contractor under this Agreement; (3) The right to terminate this Agreement in whole or in part; (4) In the event of a breach by the Bank Contractor of the covenant referred to in subparagraph Subsection (iib) of this paragraph (i)Section, the right to seek reinstatement of the employee or to obtain other appropriate equitable relief; and (5) The right to bar the Bank Contractor from entering into future contracts with the Commission Authority for three years. Each of the rights provided in this subparagraph Subsection (ivd) shall be exercisable individually or in combination with any other rights or remedies available to the CommissionAuthority. Any amounts realized by the Commission Authority pursuant to this subparagraph (iv) subsection shall be paid to the Covered Employee who failed to receive the required Minimum Compensation. (v) The Bank e. Contractor represents and warrants that it is not an entity that was set up, or is being used, for the purpose of evading the intent of the MCO. (vi) The Bank f. Contractor shall keep itself informed of the current requirements of the MCO, including increases to the hourly gross compensation due Covered Employees under the MCO, and shall provide prompt written notice to all Covered Employees of any increases in compensation, as well as any written communications received by the Bank Contractor from the CommissionAuthority, which communications are marked to indicate that they are to be distributed to Covered Employees. (vii) The Bank g. Contractor shall provide reports to the Commission Authority in accordance with any reporting standards promulgated by the Commission or the City Authority under the MCO, including reports on subcontractors. (viii) h. The Bank Contractor shall provide the Commission Authority with access to pertinent records after receiving a written request from the Commission Authority to do so and being provided at least five (5) business days to respond. (ix) i. The Commission Authority may conduct random audits of the BankContractor. Random audits shall be (i1) noticed in advance in writing; (ii2) limited to ascertaining whether Covered Employees are paid at least the minimum compensation required by the MCO; (iii3) accomplished through an examination of pertinent records at a mutually agreed upon time and location within ten (10) days of the written notice; and (iv4) limited to one (1) audit of the Bank Contractor every two (2) years for the duration of this Agreement. Nothing in this Agreement is intended to preclude the Commission Authority from investigating any report of an alleged violation of the MCO. (x) j. Any subcontract entered into by the Bank Contractor shall require the subcontractor to comply with the requirements of the MCO and shall contain contractual obligations substantially the same as those set forth in this paragraphSection. A subcontract means an agreement between the Bank Contractor and a third party which requires the third party to perform all or a portion of the services covered by this Agreement. The Bank Contractor shall notify the City’s Department of Administrative Services when it enters into such a subcontract and shall certify to the City’s Department of Administrative Services that it has notified the subcontractor of the obligations under the MCO and has imposed the requirements of the MCO on the subcontractor through the provisions of the subcontract. It is the Contractor’s obligation of the Bank to ensure that any subcontractors of any tier under this Agreement comply with the requirements of the MCO. If any subcontractor under this Agreement fails to comply, the Commission Authority may pursue any of the remedies set forth in this paragraph Section against the BankContractor. (xi) k. Each Covered Employee is a third-party beneficiary with respect to the requirements of subparagraphs subsections (ia) and (iib) of this paragraphSection, and may pursue the following remedies in the event of a breach by the Bank Contractor of subparagraphs subsections (ia) and (iib), but only after the Covered Employee has provided the notice, participated in the administrative review hearing, and waited the 21-day period required by the MCO. The Bank Contractor understands and agrees that if the Covered Employee prevails in such action, the Covered Employee may be awarded: (i1) an amount equal to the difference between the Minimum Compensation and any compensation actually provided to the Covered Employee, together with interest on such amount from the date payment was due at the maximum rate then permitted by law; (ii2) in the event of a breach by the Bank Contractor of subparagraph subsections (ia) or (iib), the right to seek reinstatement or to obtain other appropriate equitable relief; and (iii3) in the event that the Covered Employee is the prevailing party in any legal action or proceeding against the Representative Contractor arising from this Agreement, the right to obtain all costs and expenses, including reasonable attorney’s 's fees and disbursements, incurred by the Covered Employee. the Bank Contractor also understands that the MCO provides that if the Bank Contractor prevails in any such action, such party Contractor may be awarded costs and expenses, including reasonable attorney’s fees and disbursements, from the Covered Employee if the court determines that the Covered Employee’s action was frivolous, vexatious or otherwise an act of bad faith. (xii) l. If the Bank Contractor is exempt from the MCO when this Agreement is executed because the cumulative amount of agreements with this department for the fiscal year is less than $25,000 ($50,000 for nonprofits), but the Bank Contractor later enters into an agreement or agreements that cause contractor Contractor to exceed that amount in a fiscal year, the Bank Contractor shall thereafter be required to comply with the MCO under this Agreement. This obligation arises on the effective date of the agreement that causes the cumulative amount of agreements between the Bank Contractor and this department to exceed $25,000 ($50,000 for nonprofits) in the fiscal year.