Fee Structure and Payment Schedule. The Company agrees to pay RP Financial the following fees for preparation and delivery of the original appraisal report, subsequent appraisal updates and related support services, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $25,000 upon execution of this letter of agreement engaging RP Financial’s appraisal services; • $125,000 upon delivery of the completed original appraisal report; • $15,000 upon completion of estimated fair value adjustments to be included the appraisal and pro forma merger tables and, if an update to the fair value adjustments is required prior to going effective, such update will be prepared at an additional price of $7,500 per updated analysis; • $25,000 upon delivery of the merger pro forma tables for the prospectus and regulatory applications; and • $25,000 upon delivery of each subsequent appraisal update report required in conjunction with the regulatory application and stock offering. It is understood that there will be at least one appraisal update report required by regulations upon completion of the stock offering. The Company will reimburse RP Financial for reasonable out-of-pocket expenses incurred in preparation of the original appraisal and subsequent updates. Such out-of-pocket expenses will likely include travel, printing, communications, shipping, reasonable counsel fees, computer and data services, and will not exceed $10,000 in the aggregate, without the Company’s authorization to exceed this level. In the event the Company shall, for any reason, discontinue the proposed transaction prior to delivery of the completed original appraisal report or subsequent updates and payment of the corresponding fees, the Company agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after applying full credit to the initial retainer fee towards such payment, together with reasonable out-of-pocket expenses, subject to the cap on such expenses as set forth above. RP Financial’s standard billing rates range from $75 per hour for Associates to $500 per hour for Managing Directors.
Fee Structure and Payment Schedule. The Company agrees to pay RP Financial fees for preparation and delivery of the original appraisal report and subsequent appraisal updates as shown in the detail below, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $10,000 upon execution of this letter of agreement engaging RP Financial’s appraisal services; • $90,000 upon delivery of the completed original appraisal report; and • $10,000 upon delivery of each subsequent appraisal update report required in conjunction with the regulatory application and stock offering. It is anticipated that there will be at least one appraisal update report, specifically the update to be prepared in conjunction with the completion of the stock offering. The Company will reimburse RP Financial for reasonable out-of-pocket expenses incurred in preparation of the original appraisal and subsequent updates. Such out-of-pocket expenses will likely include travel, printing, telephone, facsimile, shipping, reasonable counsel fees, computer and data services, and will not exceed $10,000 in the aggregate, without the Company’s authorization to exceed this level.
Fee Structure and Payment Schedule. The Bank agrees to pay RP Financial a fixed fee of $25,000 for preparation and delivery of the original appraisal report, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $5,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; • $20,000 upon delivery of the completed original appraisal report; and, • $5,000 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Bank will reimburse RP Financial for out-of-pocket expenses incurred in preparation of the valuation. Such out-of-pocket expenses will likely include travel, telephone/facsimile, printing, shipping, computer and data services. RP Financial will agree to limit reimbursable expenses in connection with this appraisal engagement, subject to written authorization from the Bank to exceed such level. In the event the Bank shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Bank agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. XX Xxxxxxxx’x standard billing rates range from $75 per hour for research associates to $400 per hour for managing directors. If during the course of the proposed transaction, events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Bank and RP Financial. Such unforeseen events shall include, but not be limited to, major changes (actual or proposed by the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processing procedures as they
Fee Structure and Payment Schedule. The Bank agrees to pay RP Financial a fixed fee of $90,000 for preparation and delivery of the original appraisal report, plus reimbursable expenses, and $10,000 for preparation and delivery of each required updated appraisal report, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $10,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; • $80,000 upon delivery of the completed original appraisal report; and • $10,000 upon completion of each valuation update that may be required.
Fee Structure and Payment Schedule. The Bank agrees to pay RP Financial a fixed fee of $30,000 for preparation and delivery of the original appraisal report and $5,000 on delivery of each update to the valuation, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: · $5,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; · $25,000 upon delivery of the completed original appraisal report; and · $5,000 upon delivery of each completed updated appraisal report. The Bank will reimburse RP Financial for out-of-pocket expenses incurred in preparation of the valuation. Such out-of-pocket expenses will likely include travel, printing, telephone, facsimile, shipping, computer and data services. RP Financial will agree to limit reimbursable expenses in connection with this appraisal engagement, subject to written authorization from the Bank to exceed such level. In the event the Bank shall, for any reason, discontinue the proposed Minority Stock Issuance prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Bank agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. RP Financial’s standard billing rates range from $75 per hour for research associates to $350 per hour for managing directors.
Fee Structure and Payment Schedule. The Company agrees to pay RP Financial a fixed fee of $35,000 for preparation and delivery of the original appraisal report, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $10,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; • $25,000 upon delivery of the completed original appraisal report; and • $5,000 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Company will reimburse RP Financial for out-of-pocket expenses incurred in preparation of the valuation. Such out-of-pocket expenses will likely include travel, printing, shipping, computer and data services. RP Financial will agree to limit reimbursable expenses in connection with this appraisal engagement, subject to written authorization from the Company to exceed such level. In the event the Company shall, for any reason, discontinue the proposed mutual-to-stock conversion transaction prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Company agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. RP Financial’s standard billing rates range from $75 per hour for research associates to $400 per hour for managing directors. If during the course of the proposed transaction, events occur so as to materially change the nature or the work content of the services described in this contract, the terms of said contract shall be subject to renegotiation by the Company and RP Financial. Such unforeseen events shall include, but not be limited to, major changes (actual or proposed by the applicable regulatory authorities) in the conversion regulations, appraisal guidelines or processing
Fee Structure and Payment Schedule. The Company agrees to pay RP Financial fees for preparation and delivery of the original appraisal report and subsequent appraisal updates as shown in the detail below, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: ● $10,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; ● $65,000 upon delivery of the completed original appraisal report; and ● $5,000 upon delivery of each subsequent appraisal update report. There will be at least one appraisal update report, to be filed upon completion of the reorganization and stock offering. The Company will reimburse RP Financial for reasonable out-of-pocket expenses incurred in preparation of the valuation within 30 days after receipt of a detailed billing statement or invoice therefore. Such out-of-pocket expenses will likely include travel, printing, telephone, facsimile, shipping, reasonable counsel fees, computer and data services, and will not exceed $10,000 in the aggregate. In the event the Company shall, for any reason, discontinue the proposed transaction prior to delivery of the completed original appraisal report set forth above and payment of the corresponding progress payment fees, the Company agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after applying full credit to the initial retainer fee towards such payment, together with reasonable out of pocket expenses subject to the cap on such expenses as set forth above. RP Financial’s standard billing rates range from $75 per hour for research associates to $400 per hour for managing directors.
Fee Structure and Payment Schedule. The Bank agrees to compensate RP Financial for preparation of the business plan on a fixed fee basis of $25,000. Payment of the professional fees shall be made as follows:
Fee Structure and Payment Schedule. The Company agrees to pay RP Financial fees for preparation and delivery of the original appraisal report and subsequent appraisal updates as shown in the detail below, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: · $5,000 upon execution of this letter of agreement engaging RP Financial’s appraisal services; · $40,000 upon delivery of the completed original appraisal report; and · $5,000 upon completion of the conversion to cover all subsequent valuation updates that may be required, provided that the transaction is not delayed for reasons described below. The Company will reimburse RP Financial for reasonable out-of-pocket expenses incurred in preparation of the original appraisal and subsequent updates. Such out-of-pocket expenses will likely include travel, printing, communications, shipping, computer and data services, and will not exceed $5,000 in the aggregate, without the Company’s authorization to exceed this level.
Fee Structure and Payment Schedule. The Company agrees to pay RP Financial a fixed fee of $45,000 for preparation and delivery of the original appraisal report and $5,000 for each subsequent update, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $15,000 upon execution of this letter of agreement engaging RP Financial’s appraisal services; • $30,000 upon delivery of the completed original appraisal report; and, • $ 5,000 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Company will reimburse RP Financial for reasonable out-of-pocket expenses incurred in preparation of the original appraisal and subsequent updates. Such out-of-pocket expenses will likely include travel, printing, telephone, facsimile, shipping, reasonable counsel fees, computer and data services, and will not exceed $5,000 in the aggregate, without the Company’s authorization to exceed this level. In the event the Company shall, for any reason, discontinue the proposed stock offering prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Company agrees to compensate RP Financial according to RP Financial’s standard billing rates for consulting services based on accumulated and verifiable time expenses, not to exceed the respective fee caps noted above, after giving full credit to the initial retainer fee. RP Financial’s standard billing rates range from $75 per hour for research associates to $450 per hour for managing directors.
