ContractSettlement Agreement • March 26th, 2003 • Alphanet Solutions Inc • Wholesale-computers & peripheral equipment & software • New York
SETTLEMENT AGREEMENT This Settlement Agreement (the “Agreement”) is entered into by and between the New York City Transit Authority (“Authority”), and AlphaNet Solutions, Inc. (“AlphaNet”) (jointly referred to as the “Parties”) this 25th day of March, 2003. WHEREAS, on December 16,1997 the Authority entered into Contract D-337437R (“Contract”) with AlphaNet in the amount of $20,433,382.53, and WHEREAS, Modification No. 1 was issued on September 29, 1998 in the amount of $171,055.60 making the total Contract amount $20,604,438.13. WHEREAS, on, or about May 5, 1999, AlphaNet submitted a request to the Authority for change order in the amount of $1,215,891 along with a request for thirteen month extension to the Contract’s duration, which was denied by the Authority’s Project Manager (“Claim”) after which AlphaNet submitted a dispute concerning the Claim to the Authority’s Dispute Resolution Officer which was denied; and WHEREAS, AlphaNet then challenged the denial in an Article 78 procee
