Common use of Fee Structure and Payment Schedule Clause in Contracts

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 Bank agrees to pay RP Financial a fixed fee of $30,000 80,000 for preparation and delivery of the original appraisal report and $5,000 on delivery of each update to the valuationreport, plus reimbursable expenses, and $10,000 for each subsequent update prepared for the valuation. Payment of these fees shall be made according to the following schedule: · • $5,000 10,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; · • $25,000 70,000 upon delivery of the completed original appraisal report; and · • $5,000 10,000 upon completion and delivery of each completed updated appraisal reportvaluation. 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 engagementengagement and the concurrent engagement for the preparation of a regulatory business plan (as described in the accompanying letter), 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.initial

Fee Structure and Payment Schedule. The Bank agrees to pay RP Financial a fixed fee of $30,000 80,000 for preparation and delivery of the original appraisal report report, plus reimbursable expenses, and $5,000 on 10,000 for preparation and delivery of each update to the valuationrequired updated appraisal report, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: · ● $5,000 10,000 upon execution of the letter of agreement engaging RP Financial’s appraisal services; · ● $25,000 70,000 upon delivery of the completed original appraisal report; and · ● $5,000 10,000 upon delivery completion of each completed updated appraisal reportvaluation update that may be required. 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 $350 400 per hour for managing directors.

Fee Structure and Payment Schedule. The Bank agrees to pay RP Financial a fixed fee of $30,000 25,000 for preparation and delivery of the original appraisal report and $5,000 on delivery of each update to the valuationthese valuation services, 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 15,000 upon delivery of the completed original appraisal report; and · • $5,000 upon delivery completion of each completed updated appraisal reportthe Reorganization and Minority Stock Issuance to cover all subsequent valuation updates 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, 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.initial

Fee Structure and Payment Schedule. The Bank agrees to pay RP Financial a fixed fee of $30,000 27,500 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 22,500 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 to $5,000 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 $350 300 per hour for managing directors.