Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Settlement
Entity Name: Oracle America, Inc.
Entity Address: 500 Oracle Parkway, Redwood Shores, CA 94065
Settlement Amount: $559,800.00
Funding Source: Current Fund
Additional Information:
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WHEREAS, the entity named above, provided other professional services for the City of Newark; and
WHEREAS, from January 1, 2025 through December 31, 2025, the City of Newark (the "City") utilized the other professional services of Oracle America, Inc.; and?
WHEREAS, there remains an outstanding balance for the other professional services provided to the City of Newark January 1, 2025 - December, 31, 2025; and
WHEREAS, a settlement proposal has been made to resolve this claim in its entirety by payment in the total amount of Five Hundred Fifty-Nine Thousand Eight Hundred Dollars and Zero Cents ($559,800.00) ("Settlement Sum"), and execution of a Settlement Agreement and Release; and
WHEREAS, to avoid the costly expense of litigation, the Parties and the City's Corporation Counsel desire to amicably resolve this matter with payment by the City of the Settlement Sum, in exchange for Plaintiff's execution of the Settlement Agreement and Release (attached) as a full and complete release of the matter; and
WHEREAS, the Corporation Counsel, based upon all facts and circumstances surrounding the matter, deems it is in the best interest of the City to resolve this matter by payment in the amount set forth above; and
NOW, THEREFORE, BE IT RESOLVED BY MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Corporation Counsel is hereby authorized on behalf of the City of Newark to execute and accept the terms of the Settlement Agreement and Release, attached hereto.
2. Upon receipt by the Corporation Counsel of all documents deemed necessary, the Director of Finance is hereby authorized and directed to issue payments in the amount of Five Hundred Fifty-Nine Thousand Eight Hundred Dollars and Zero Cents ($559,800.00) and made to "Oracle America, Inc." and mailed to 500 Oracle Parkway, Redwood Shores, CA 94065.
3. Annexed hereto is the Certification of Funds issued by the Director of Finance, City of Newark, which states that there are available sufficient legally-appropriate funds from Business Unit NW011, Dept. 036, Division/Project 0366 and Account #71280, in the amount of Five Hundred Fifty-Nine Thousand Eight Hundred Dollars and Zero Cents ($559,800.00) for the purpose set forth herein.
4. A copy of the Comptroller's Certification shall be filed in the Office of the City Clerk along with this Resolution by the Corporation Counsel.
5. The Corporation Counsel shall file a fully executed copy of the Settlement Agreement and Release in the Office of the City Clerk.
6. This Resolution shall be effective upon adoption in accordance with applicable State Law.
7. The Settlement Agreement and Release and Resolution does not admit, nor should it be construed as an admission of liability or violation of any law, statute or regulation or a breach of any duty by the City of Newark, its agents, officers and/or employees whatsoever and is entered into based upon recommendations of the Corporation Counsel and to eliminate all risks and future litigation costs.
STATEMENT
This Resolution authorizes the Corporation Counsel on behalf of the City of Newark to enter into a Settlement Agreement and Release to remit payment for professional services to "Oracle America, Inc." in the amount of Five Hundred Fifty-Nine Thousand Eight Hundred Dollars and Zero Cents ($559,800.00) in exchange for dismissal of any and all claims against the City of Newark and its employees, and a complete release.