Common use of Fee Structure and Payment Schedule Clause in Contracts

Fee Structure and Payment Schedule. The Company agrees to pay RP Financial a fixed fee of $32,000 for preparation and delivery of the original appraisal report and $7,500 for each subsequent update, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $7,000 upon execution of this letter of agreement engaging RP Financial’s appraisal services; • $25,000 upon delivery of the completed original appraisal report; and, • $ 7,500 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 $3,000 in the aggregate, without the Company’s authorization to exceed this level. In the event the Company shall, for any reason, discontinue the conversion 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.

Fee Structure and Payment Schedule. The Company Association agrees to pay RP Financial a fixed fee of $32,000 40,000 for preparation and delivery of the original appraisal report and $7,500 5,000 for each subsequent update, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $7,000 10,000 upon execution of this letter of agreement engaging RP Financial’s appraisal services; • $25,000 30,000 upon delivery of the completed original appraisal report; and, • $ 7,500 5,000 for each valuation update that may be required, provided that the transaction is not delayed for reasons described below. The Company Association 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 $3,000 5,000 in the aggregate, without the CompanyAssociation’s authorization to exceed this level. In the event the Company Association shall, for any reason, discontinue the conversion proposed stock offering prior to delivery of the completed documents set forth above and payment of the respective progress payment fees, the Company Association 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.

Fee Structure and Payment Schedule. The Company agrees to pay RP Financial a fixed fee of $32,000 45,000 for preparation and delivery of the original appraisal report and $7,500 5,000 for each subsequent update, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $7,000 15,000 upon execution of this letter of agreement engaging RP Financial’s appraisal services; • $25,000 30,000 upon delivery of the completed original appraisal report; and, • $ 7,500 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 $3,000 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 conversion 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.

Fee Structure and Payment Schedule. The Company Bank agrees to pay RP Financial a fixed fee of $32,000 25,000 for preparation and delivery of the original appraisal report and $7,500 for each subsequent updatethese valuation services, plus reimbursable expenses. Payment of these fees shall be made according to the following schedule: • $7,000 5,000 upon execution of this the letter of agreement engaging RP Financial’s appraisal services; • $25,000 15,000 upon delivery of the completed original appraisal report; and, and • $ 7,500 for each $5,000 upon completion of the Reorganization and Minority Stock Issuance to cover all subsequent valuation update updates that may be required, provided that the transaction is not delayed for reasons described below. The Company Bank will reimburse RP Financial for reasonable out-of-pocket expenses incurred in preparation of the original appraisal and subsequent updatesvaluation. 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, and will not exceed $3,000 in subject to written authorization from the aggregate, without the Company’s authorization Bank to exceed this such level. In the event the Company Bank shall, for any reason, discontinue the conversion proposed Minority Stock Issuance prior to delivery of the completed documents set forth above and payment of the 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 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.initial