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 project’s needs at that specific juncture. For example, one day the data entry personnel are completely inundated with roster entry and proofing, requiring 3-4 staff members. The next day, the entire off site office group is consumed with one project. What this system provides overall, (and within a more managed budgetary process,) is the human resource component consistently on-call without inflating the on-site project staff. In addition to Technical Staff, Bankmark maintains Database and Project Support Staff made up of both part-time (PTE) and full-time (FTE) personnel. These staff members will not work on-site at the Bank’s Project office, but at Bankmark’s offices in California, Colorado, Texas, and New York. These individuals are employees of Bankmark. They maintain and manage the Bank’s Database and provide consistent and necessary Database and Project Support Services to the Bank at the request and under the direction of the Bank’s PM. Computer Network System & Printers Rental Service It is essential that the Bank’s temporary project site meet the necessary minimum requirements needed to support the Capital Campaign and the Events Phase of the organizational process. In order to maintain consistency from project to project and for the convenience of our clients, Bankmark will provide a range of Technical Support to the Bank for the duration of this agreement:
Appears in 2 contracts
Samples: Consulting Agreement (United Business Holdings, Inc), Consulting Agreement (United Business Holdings, Inc)
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, 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 project’s needs at that specific juncture. For example, one day the data entry personnel are completely inundated with roster entry and proofing, requiring 3-4 staff members. The next day, the entire off site office group is consumed with one project. What this system provides overall, (and within a more managed budgetary process,) is the human resource component consistently on-call without inflating the on-site project staff. In addition to Technical Staff, Bankmark maintains Database and Project Support Staff made up of both part-time (PTE) and full-time (FTE) personnel. These staff members will not work on-site at the Bank’s Project office, but at Bankmark’s offices in California, Colorado, Texas, and New York. These individuals are employees of Bankmark. They maintain and manage the Bank’s Database and provide consistent and necessary Database and Project Support Services to the Bank at the request and under the direction of the Bank’s PM. Computer Network System & Printers Rental Service It is essential that the Bank’s temporary project site meet the necessary minimum requirements needed to support the Capital Campaign and the Events Phase of the organizational process. In order to maintain consistency from project to project and for the convenience of our clients, Bankmark will provide a range of Technical Support to the Bank for the duration of this agreement:
Appears in 2 contracts
Samples: Consulting Agreement (United Business Holdings, Inc), Consulting Agreement (United Business Holdings, Inc)
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 budget 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 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) PS and/or Project Manager (PM) 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, 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 85 investment meetings, meetings with an average attendance of 25 attendees to meet 1,625 2,125 (minimum) qualified investors, the following costs are projected: Project SupportComputer Network System & Printers Rental Service** Month 6 $ 2,200 Month 7 $ 2,200 Month 8 $ 2,200 Month 9 $ 2,200 Month 10 $ 2,200 Month 11 $ 2,200 Month 12 $ 2,200 Month 13 $ 2,200 Month 14 $ 2,200 TOTAL $ 19,800 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 addendum will be presented to the Bank with a more detailed description of items and payment schedule. $1,000 35,000 Project Site Support Staff Month 5 $ 4,000 Month 6 $ 4,000 Month 7 $ 4,000 Month 8 $ 8,000 Month 9 $ 8,000 Month 10 $ 14,000 Month 11 $ 14,000 Month 12 $ 16,000 Month 13 $ 16,000 Month 14 $ 16,000 TOTAL $ 104,000* The staffing budget only represents a monthly estimate. As we begin the hiring process closer to the Bank’s campaign, we will present a more specific (weekly) cost per month person spreadsheet for approval. *This represents a current market estimate. An updated estimate will be prepared at beginning of hiring process. Payroll expense due net 15 days from date of invoice received. Project Support ** Other part time staff, staff or FTE FTE’s (Full Time Equivalent) time, time has been allocated pursuant to the project budget. Some staff members do not work on site at the organizational office, 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, 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 project’s needs at that specific juncture. For example, one day Example: Some days the data entry personnel are completely inundated with roster entry and proofing, requiring proofing 3-4 staff members. The next day, day the entire off site office group is consumed with one project. What Over all what this system provides overall, (and within a more managed budgetary process,) is the human resource component consistently on-but on call without inflating the onproject staff on site being inflated. $10,000 (This space intentionally left blank.) Food, Beverage, Facilities (based on approx. 65 events) Month 9 $ 8,000 Month 10 $ 16,000 Month 11 $ 16,000 Month 12 $ 16,000 Month 13 $ 13,000 Month 14 $ 13,000 TOTAL $ 79,000 These amounts only represent estimates. As each month is planned in advance, the estimates will be recalculated on a per-site event cost. The event costs are also tracked weekly as each event occurs, costs are posted so at all times the PM and the client know exactly where the project staffstands in relationship to the budget. In addition to Technical StaffThis is a cost category tracked jointly by the client and Bankmark. External Printing · Invitations · Offering circular & all the packaging · Presentation boards for investment meetings · Letterhead, business cards, envelopes The quantities, paper specification, etc. will be bid out/estimated upon completion of the design phase. If possible, Bankmark maintains Database will secure a local printer; provided the quality standards can be met in relationship to the budget. All print estimates and Project Support Staff made 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, such as printing of the prospectus. Because Bankmark prints these files digitally in-house, the client is afforded a cost per piece savings in comparison to using a “Kinko’s” of at least 50%. This in-house process allows Bankmark the ability to manage on behalf of the client ordering only what is needed on a weekly basis. Therefore, our quantity counts are low. $7,500 Marketing Promotions** · Presentation boards for investment meetings · The chairman’s’ circle/founders coffee promotion · Logo golf style shirts · Other name recognition items The specifics (i.e., count, item, color specifications, set-up of both partfees) will be outlined in a separate agreement for approval by Bank/project management prior to beginning the events process. This will include all design, dye-time (PTE) cast, set-up, production, and full-time (FTE) personnelshipping requirements. $21,000 Speaker Honorariums** Speaker honorariums are paid to any qualified industry expert identified by Bankmark. These staff members individuals most likely have previous experience with the Bankmark program, content and format especially as it relates to regulatory dos and don’ts. They could be Xxxxxx Xxxxxxx, Xxxxx Xxxxx, Xxx Xxxxxx, or any other speaker Bankmark deems acceptable. Each event fee is $450 per event (65 events approx). At the end of each 15-day period during the events phase of the project, Bankmark and the Bank will not work onreview and reconcile the speaker honorariums to be paid for that period. $38,250 Public and Promotional Events Public and promotional events are events “outside of the box” or a standard event whereby the event has a theme that is usually time sensitive and a special guest speaker has been scheduled. The event requires a broader scope and scale or marketing to draw a larger qualified audience. Any event in this category budget is planned and approved by the Bank organizers. $8,000 These projected costs are based on the following assumption: The most important factor in holding the events cost to a minimum is to maintain a high average attendance: 1) if the Bank gets them to an event and 2) follow up to gauge their interest within 24-site at 48 hours. If the Bank’s Project officegoal is a minimum of 2,125 qualified attendees and we maintain an average attendance of 25 per event, but at Bankmark’s offices in California, Colorado, Texas, the Bank can reach its capitalization goal upon completion of the 85th event. The caveat is the follow-up by directors and New Yorkthe Bank and is imperative to the success of the Capital Acquisition Program based on these assumptions. These individuals are employees of **Fees paid directly to Bankmark. They maintain and manage the Bank’s Database and provide consistent and An invoice along with any necessary Database and Project Support Services supporting documentation will be presented to the Bank at the request and under the direction of the Bank’s PMas each expense is incurred. Computer Network System & Printers Rental Service It is essential that the Bank’s temporary project site meet the necessary minimum requirements needed to support the Capital Campaign and the Events Phase of the organizational process. In order to maintain consistency from project to project and for the convenience of our clients, Bankmark will provide a range of Technical Support to the Bank for the duration of this agreement:These invoices are due net ten (10) days upon presentation.
Appears in 1 contract
Samples: Consulting Agreement (Solera National Bancorp, Inc.)
EXPENSES TO BE PAID BY THE BANK. These fees 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 '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 budget may be exceeded due to necessary changes in the regulatory process, additional events, or any other requirements required to support the proposed transactionCapital Acquisition Campaign, management Management will prepr-approve the newly revised new budget before it is incurred. Projected Costs: Bankmark’s '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 Agreementagreement, they will present to the client Client a more detailed anticipated monthly expense of the various budget category line items of the expensesStocksale Expenses. These monthly presentations of anticipated expense will, in turn, be reviewed, reviewed with senior management Senior Management or the Project’s '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, 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 Graphics Program Development Logo, Letterhead, Business Cards, Envelopes, prospectus, promotional materials, organization website (design to production), no printing. At time staff, or FTE (Full Time Equivalent) time, has been allocated pursuant 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 Month 4 $ 3,000 Month 5 $ 3,000 Month 6 $ 3,000 Month 7 $ 4,000 Month 8 $ 5,500 Month 9 $ 5,500 Month 10 $ 12,000 Month 11 $ 12,000 Month 12 $ 12,000 Month 13 $ 12,000 TOTAL $ 72,000* 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 estimate will be prepared at beginning of hiring process. Payroll expense due net 15 days from date of invoice received. Food, Beverage, Facilities (based on approx. 65 events) Month 8 $ 5,000 Month 9 $ 9,000 Month 10 $ 9,000 Month 11 $ 9,000 Month 12 $ 7,500 Month 13 $ 7,500 TOTAL $ 47,000 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 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 stands in relationship to the project’s needs at that specific juncturebudget. For exampleThis is a cost category tracked jointly by the client and Bankmark. External Printing • Invitations • Offering circular & all the packaging • Presentation boards for investment meetings • Letterhead, one day Business Cards. Envelopes The quantities, paper specification, etc. will be bid out/estimated upon completion of the data entry personnel 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 completely inundated with roster entry and proofingSponsor development handouts, requiring 3Chairman Circle Advisory/Founders' Group Handout. Because Bankmark prints these files digitally in-4 staff members. The next dayhouse, the entire off site office group client is consumed with one projectafforded a cost per piece savings in comparison to using a "Kinko's" of at least 50%. What this system provides overallThis in-house process allows Bankmark the ability to manage on behalf of the client ordering only what is needed on a weekly basis. Therefore, our quantity counts are low. $7,500 Marketing Promotions** • The chairman's' circle /Founders coffee promotion • Logo golf style shirts • Other time recognition items The specifics (i.e. count. item, color specifications, set-up fees) will be outlined in a separate agreement for approval by bank/project management prior to beginning the events process. This will include all design, dye-cast, set-up, production and within a more managed budgetary process,) is the human resource component consistently on-call without inflating the on-site project staffshipping requirements. In addition $21,000 Speaker Honorariums** Speaker Honorariums are paid to Technical Staff, Bankmark maintains Database and Project Support Staff made up of both part-time (PTE) and full-time (FTE) personnel. These staff members will not work on-site at the Bank’s Project office, but at any qualified industry expert identified by Bankmark’s offices in California, Colorado, Texas, and New York. These individuals most likely have previous experience with the Bankmark program, content and format especially as it relates to regulatory dos and don'ts. They could be Xxxxxx Xxxxxxx, Xxxxxx Xxxxxxxxx, Xxxxx Lakes, or any other speaker Bankmark deems acceptable. Each event fee is $450 per event (65 events approx). At the end of each 15-day period during the events phase of the project, Bankmark and the Bank will review and reconcile the speaker honorariums to be paid for that period. $29,250 Public and Promotional Events Public and Promotional Events are employees events "outside of the box" or a standard event whereby the event has a theme that is usually time sensitive, that a special guest speaker has been scheduled, the event requires a broader scope and scale or marketing to draw a larger qualified audience. Any event in this category budget is planned and approved by the bank organizers. $8,000 These projected costs are based on the following assumption: The most important factor in holding the events cost to a minimum is to maintain a high average attendance: 1) get them to an event and 2) follow up to gauge their interest within 24-48 hours. If our goal is a minimum of 1,625 qualified attendees and we maintain an average attendance of 25 per event, the Bank can reach its capitalization goal upon completion of the 65th event. The caveat is the follow-up by Directors and the Bank is imperative to the success of the Capital Acquisition Program based on these assumptions. 1 The final payment of $30,000 is due at the release of funds from the impound account, or 150 days from the effective date of the prospectus/offering, whichever first. It should be understood that receipt of the final payment of $30,000 is not contingent upon any conditions or performance. The final payment shall be considered a post-opening expense for accounting purposes and, although it appears in, is not included in the calculated total of the estimated pre-opening expense budget previously presented to the Bank. **Fees paid directly to Bankmark. They maintain and manage the Bank’s Database and provide consistent and An invoice along with any necessary Database and Project Support Services supporting documentation will be presented to the Bank at the request and under the direction of the Bank’s PMas each expense is incurred. Computer Network System & Printers Rental Service It is essential that the Bank’s temporary project site meet the necessary minimum requirements needed to support the Capital Campaign and the Events Phase of the organizational process. In order to maintain consistency from project to project and for the convenience of our clients, Bankmark will provide a range of Technical Support to the Bank for the duration of this agreement:These invoices are due net ten (10) days upon presentation.
Appears in 1 contract
Samples: Consulting Agreement (Birmingham Bloomfield Bancshares)
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, 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 85 investment meetings, with an average attendance of 25 attendees to meet 1,625 2,125 (minimum) qualified investors, the following costs are projected: Project Support** 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 project’s needs at that specific juncture. For example, one day the data entry personnel are completely inundated with roster entry and proofing, requiring 3-4 staff members. The next day, the entire off site office group is consumed with one project. What this system provides overall, (and within a more managed budgetary process,) is the human resource component consistently on-call without inflating the on-site project staff. In addition to Technical Staff, Bankmark maintains Database and Project Support Staff made up of both part-time (PTE) and full-time (FTE) personnel. These staff members will not work on-site at the Bank’s Project office, but at Bankmark’s offices in California, Colorado, Texas, and New York. These individuals are employees of Bankmark. They maintain and manage the Bank’s Database and provide consistent and necessary Database and Project Support Services to the Bank at the request and under the direction of the Bank’s PM. Computer Network System Other Project Site & Printers Rental Service It is essential that Equipment Requirements The Bank agrees to provide the Bank’s temporary project site meet the necessary minimum requirements needed to support the Capital Campaign and the Events Phase of the organizational process. In order to maintain consistency from project to project and for the convenience of our clients, Bankmark will provide a range of Technical Support to the Bank following for the duration of this agreementthe Bank Project:
Appears in 1 contract
