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; ● $90,000 upon delivery of the completed original appraisal report; and ● $10,000 upon delivery of each subsequent appraisal update report. There will be at least one appraisal update report, to be filed upon completion of the 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. RP Financial will agree to limit reimbursable expenses in connection with this engagement, subject to written authorization from the Company to exceed such level. 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.
Appears in 1 contract
Samples: Kaiser Federal Financial Group, Inc.
Fee Structure and Payment Schedule. The Company Bank agrees to pay RP Financial fees a fixed fee of $80,000 for preparation and delivery of the original appraisal report report, plus reimbursable expenses, and subsequent $10,000 for preparation and delivery of each required updated appraisal updates as shown in the detail belowreport, 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; ● $90,000 70,000 upon delivery of the completed original appraisal report; and ● $10,000 upon delivery completion of each subsequent appraisal valuation update report. There will that may be at least one appraisal update report, to be filed upon completion of the offeringrequired. The Company Bank 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 thereforevaluation. Such out-of-pocket expenses will likely include travel, printing, telephone, facsimile, shipping, reasonable counsel fees, 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 Bank to exceed such level. In the event the Company Bank shall, for any reason, discontinue the proposed transaction Minority Stock Issuance prior to delivery of the completed original appraisal report documents set forth above and payment of the corresponding respective progress payment fees, the Company 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 applying giving 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 abovefee. RP Financial’s standard billing rates range from $75 per hour for research associates to $400 per hour for managing directors.
Appears in 1 contract
Samples: First Connecticut Bancorp, Inc.
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 5,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; ● • $90,000 45,000 upon delivery of the completed original appraisal report; and ● • $10,000 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 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. RP Financial , and will agree to limit reimbursable expenses not exceed $7,500 in connection with this engagement, subject to written authorization from the Company to exceed such levelaggregate unless otherwise mutually agreed upon. 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.applying
Appears in 1 contract
Samples: Atlantic Coast Financial CORP
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; ● $90,000 65,000 upon delivery of the completed original appraisal report; and ● $10,000 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. RP Financial , and will agree to limit reimbursable expenses not exceed $10,000 in connection with this engagement, subject to written authorization from the Company to exceed such levelaggregate. 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.
Appears in 1 contract
Samples: Charter Financial Corp
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; ● • $90,000 80,000 upon delivery of the completed original appraisal report; and ● • $10,000 7,500 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. RP Financial , and will agree to limit reimbursable expenses not exceed $10,000 in connection with this engagement, subject to written authorization from the Company to exceed such levelaggregate. 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 $400 450 per hour for managing directors.
Appears in 1 contract
Samples: Charter Financial Corp
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 5,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; ● $90,000 20,000 upon delivery of the completed original appraisal report; and ● $10,000 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. RP Financial , and will agree to limit reimbursable expenses not exceed $10,000 in connection with this engagement, subject to written authorization from the Company to exceed such levelaggregate. 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.
Appears in 1 contract
Samples: Jacksonville Bancorp, Inc.
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 20,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; ● • $90,000 210,000 upon delivery of the completed original appraisal report; and ● • $10,000 15,000 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. RP Financial , and will agree to limit reimbursable expenses not exceed $10,000 in connection with this engagement, subject to written authorization from the Company to exceed such levelaggregate. 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.
Appears in 1 contract
Samples: Northwest Bancshares, Inc.