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will apply the ECR to the monthly average positive collected balances net of reserves (investable balances). The Depository will compute the earnings credit and fees as follows: average positive ledger balances in non-interest bearing accounts, less funds in the process of collection (float) and reserves, are given credit based on the previous month's average of the 91-day Treasury Bill Auction Discount Rate. The Depository will subtract charges for all services used from the earnings credit. 17. Monthlv Statements The Depository will provide the City with monthly statements on all accounts. The City has an option to receive the monthly statements via mail or online. 18. Account Executive The Client Manager on the City's account, Kathaleen Ford Smith, will be responsible for the overall relationship on an ongoing basis. Melisa Atkinson, Treasury Management Officer, will be responsible for all of the City's cash management and treasury services needs during and after implementation. Bank of America will notify the City of any changes to the account executive. 19. Overdrafts The City will make every effort to eliminate intra-day and inter-day overdrafts. Although the definition of an overdraft is based on an individual account, interest at the Depository's Prime Rate is assessed only on days when there is a negative collected balance in all non-interest bearing transaction accounts combined. The Depository will assess overdraft fees and interest through the Account Analysis statement. 20. Stop Pavments The Depository will provide Payments Direct Stop Pay service, to the City to enable it to place stop payment requests directly into the Depository's stop payment files from the internet. 21. Bank of America at Work The City can utilize the Bank of America at Work program of preferred financial services, based on direct deposit of pay that benefits both the City and the City's employees. Employees located at various sites, will have equal access to the same value-added benefits that make the financial services they use more convenient, economical and easy at no additional cost to the City or its employees. 22. Merchant Services The Depository will provide the City with Bank of America Merchant Services, which will offer the City the use of point of sale equipment, electronic deposits, e-commerce solutions, and industry specialized products. Bank of America Merchant Services will provide systems for processing payments and the merchant information management of accounting. It is through this service that ACH entries for card transaction deposits are generated and transmitted to the relevant merchant depository accounts. Bank of America. Page 6 -- , t