EXPENSES TO BE PAID BY THE BANK. These fees only represent an estimate. As each required service is negotiated with the selected firm or individual, an agreement or purchase order will be submitted to and approved by the Bank’s management in advance of any payment or commitment to pay. These agreements will be itemized and totaled in a report to management on a monthly basis to account for monies committed or owed against the estimated budget. In each and every case where a budgeted expense may be exceeded due to necessary changes in the regulatory process, additional events, or any other requirements required to support the proposed transaction, management will pre-approve the newly revised budget before it is incurred. Projected Costs: Bankmark’s fees are disbursed monthly over the life of the project. Other costs are paid by the Bank but managed by Bankmark. As the Project Supervisor (PS) and/or Project Manager (PM) prepare to implement the various stages and expense items of this Agreement, they will present to the client a more detailed anticipated monthly expense of the various budget category line items of the expenses. These monthly presentations of anticipated expense will, in turn, be reviewed, with senior management or the Project’s designated representative every thirty (30) days. Items or services to be purchased on behalf of the Bank will be outlined in a contract or estimate form provided by the specific supplier and approved by Bank personnel prior to purchase of the item or service. Based on the assumption that the Bank will have to host approximately 65 investment meetings, with an average attendance of 25 attendees to meet 1,625 (minimum) qualified investors, the following costs are projected: Project Support** $1,000 per month Other part time staff, or FTE (Full Time Equivalent) time, has been allocated pursuant to the project budget. Some staff members do not work on site at the organizational office, but at Bankmark’s offices in California, Colorado, and Texas. This provides consistency from project to project, access through universities for data entry personnel or other essential personnel that Bankmark does not have to hire, train, and release as a project ends. Instead it provides continuity to all Bankmark’s clients by spreading out the part time hours needed to support all of Bankmark’s projects. For many banking professionals, not being able to “see” an individual causes concern when, in fact, it is the work to be produced in total and in relationship to the p...
EXPENSES TO BE PAID BY THE BANK. Projected Costs: Bankmark's fees are disbursed monthly over the life of the project. Other costs are paid by the Bank but managed by Bankmark. Based on the assumption that the Bank will have to host 105-125 investment meetings with an average attendance of 25 attendees to meet 2,625(minimum) qualified investors, the following costs are projected: Computer Network System & Printers Rental Service June $1,800 July $1,800 August $1,800 September $1,800 October $1,800 November $1,800 December $1,800 January $1,800 February $1,800 TOTAL $16,200 Graphics Program Development Logo, Letterhead, Business Cards, Envelopes, prospectus, promotional materials, organization website (design to production), no printing August $9,000 September $9,000 October $9,000 TOTAL $27,000 Part Time Support Staff April $4,785* May $5,980* June $4,785* July $4,785* August $5,980* September $8,625 October $13,180* November $10,545* December $10,545* January $13,180 February $10,145* TOTAL $92,935* The staffing budget only represents a monthly estimate. As we begin the hiring process closer to the stock sale campaign, we will present a more specific (weekly) cost per person spreadsheet for approval. *This represents a very conservative estimate. Payroll expense due net 15 days from date of invoice received. Food, Beverage, Facilities (based on 100-120 events) September $6,000 October $12,000 November $12,000 December $10,000 January $10,000 February $10,000 TOTAL $60,000 These amounts only represent estimates. As each month is planned in advance, the estimates will be recalculated on a per event cost. The event cost are also tracked weekly as each event occurs, cost are posted so at all times the PM and the client know exactly where the project stands in relationship to the budget. This is a cost category tracked jointly by the client and Bankmark. External Printing • Invitations • circular & all the packaging • boards for investment meetings • Business Cards, Envelopes The quantities, paper specification, etc. will be bid out/estimated upon completion of the design phase. If possible Bankmark will secure a local printer provided the quality standards can be met in relationship to the budget. All print estimates and purchase orders will be signed and approved by the client. $30,000 Internal Printing** Internal Printing is a service provided by Bankmark whereby full digital color printing is needed only during the stock sale process. Some examples are Sponsor development handouts, Chairma...
EXPENSES TO BE PAID BY THE BANK. These fees only represent an estimate. As each required service is negotiated with the selected firm or individual, an agreement or purchase order will be submitted to and approved by the Bank's Management in advance of any payment or commitment to pay. These agreements will be itemized and totaled in a report to management on a monthly basis to account for monies committed or owed against the estimated budget. In each and every case where a budget may be exceeded due to necessary changes in the regulatory process, additional events, or any other requirements required to support the Capital Acquisition Campaign, Management must pre-approve the new budget before it is incurred. If there should be any changes for any budgeted item for whatever reason Bankmark will present the item and any supportive information or discussion materials necessary to the Bank's Management. Bankmark will then answer any questions the Bank should have or vice versa. Adjustments will be made until a consensus is reached. Finally, the Bank's Management will give its approval by signing off on the item's necessary changes.
EXPENSES TO BE PAID BY THE BANK. These expenses only represent an estimate. As each required service is negotiated with the selected firm or individual, an agreement or purchase order will be submitted to and approved by the Bank's Management in advance of any payment or commitment to pay. These agreements will be itemized and totaled in a report to management on a monthly basis to account for monies committed or owed against the estimated budget. In each and every case where a budget may be exceeded due to necessary changes in the regulatory process, additional events, or any other requirements required to support the Capital Acquisition Campaign, Management will pr-approve the new budget before it is incurred. Projected Costs: Bankmark's fees are disbursed monthly over the life of the project. Other costs are paid by the Bank but managed by Bankmark. As the Project Supervisor (PS) and/or Project Manager (PM) prepare to implement the various stages and expense items of this agreement, they will present to the Client a more detailed anticipated monthly expense of the various budget category line items of the Stocksale Expenses. These monthly presentations of anticipated expense will, in turn, be reviewed with Senior Management or the Project's designated representative every thirty (30) days. Items or services to be purchased on behalf of the Bank will be outlined in a contract or estimate form provided by the specific supplier and approved by Bank personnel prior to purchase of the item or service. Based on the assumption that the Bank will have to host 105-125 investment meetings with an average attendance of 25 attendees to meet 2,625(minimum) qualified investors, the following costs are projected: Graphics Program Development Logo, Letterhead, Business Cards, Envelopes, prospectus, promotional materials, organization website (design to production). no printing. At time of execution a supplemental contract will be presented to the Bank with a more detailed description of items and payment schedule. $27,000 Part Time Support Staff October $ 5,000 November $ 5,000 December $ 5,000 January $ 7,500 February $ 7,500 March $ 7,500 April $ 12,000 May $ 12,000 June $ 12,000 July $ 12,000 August $ 12,000 September $ 7,500 TOTAL $ 105,000* The staffing budget only represents a monthly estimate. As we begin the hiring process closer to the stock sale campaign, we will present a more specific (weekly) cost per person spreadsheet for approval. * This represents a current market estimate. An updated...
