STANTON ASSOCIATES
Exhibit
10.28
XXXXXXX
ASSOCIATES
0000
Xxxxx Xxxxx
Xxxxxx
Xxxx, XX 00000
phone:
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(000)
000-0000
|
|
fax:
|
(000)
000-0000
|
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xxxxxxxx@xxxxxxxxxxxx.xxx
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March
12,2005
Xx.
Xxxx
Xxxxxxxx
Chief
Executive Officer
99¢
Only
Stores
0000
Xxxxx Xxxxxxx Xxxxxx
Xxxx
xx
Xxxxxxxx, XX 00000
Dear
Xx.
Xxxxxxxx;
This
letter summarizes the Xxxxxxx Associates ("SA") proposal to provide professional
services to 99¢ Only Stores ("99 Only"). This letter shall serve as the
Agreement and Contract for such services. It supercedes all prior agreements
there may be between us, whether written or oral, and to the extent it is
in
conflict with any other document the language in this letter shall
prevail.
Engagement
Schedule, Staffing, and Fees
Xx.
Xxxx
Xxxxxxx, engagement partner, assumes the role of interim Chief Financial
Officer
on a temporary consulting basis. Xx. Xxxxx Xxxxxxx (senior partner) will
be SA's
reviewing partner on this engagement.
The
start
date is to be Monday, March 14, 2005.
Fees
Our
fees are based on the hourly rates of the individuals assigned to the engagement
unless we have agreed on a retained relationship for one or more of our
professionals. You have asked us to quote fee amounts based on a monthly
retained relationship for Xx. Xxxxxxx. In computing the applicable retainer
amounts we have assumed a work week for Xx. Xxxxxxx of 50 to 55 hours. Xx.
Xxxxxxx'x involvement will be at the discretion of SA without additional
billing
to 99 Only except where it is agreed with 99 Only that Xx. Xxxxxxx'x involvement
is merited, in which case the billing rate for Xxxxxxx shall be $275 per
hour.
We are also assuming that SA is not providing additional partners or associates
to this engagement. If these assumptions become materially incorrect we have
discussed and agreed that we will either reduce our fees to reflect the lesser
hours incurred, or further discuss with you an increase to the fees to reflect
the additional hours incurred, as applicable.
In
accordance with the foregoing we are able to provide the following retained
amount for SA professional services: per month $50,000.
We
expect
the reality to be that we will consistently work more hours than is assumed
in
these estimates but we will not discuss with you the need for additional
xxxxxxxx unless the increment becomes material.
We
require an engagement initiation fee (retainer) of 50% of the cash component
of
the first month's billing (based on the monthly retained fee quote), i.e.
$25,000, to be paid within 3 business days of the commencement of the
engagement. This fee will be credited to you on your final invoice. We xxxx
semi-monthly and our terms are 10 days.
We
are
excited about the opportunity to work with you on this engagement. We look
forward to making substantial contributions to your finance, accounting,
and
other departments.
Sincerely,
Xxxxxxx
Associates
/s/
X. X.
Xxxxxxx
Xxxxx
X.
Xxxxxxx
President
and Senior Partner
Attachment
I
HAVE
READ AND UNDERSTAND THE I FOREGOING, AND THE TERMS AND CONDITIONS SET FORTH
IN
THE ATTACHMENT, AND AGREE TO THEM.
By:
|
/s/
Xxxx Xxxxxxxx
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3/12/05
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Xxxx
Xxxxxxxx, CEO, 99¢ Only Stores
|
date
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|||
Address:
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0000 Xxxxx Xxxxxxx Xxxxxx | |||
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Xxxx
xx Xxxxxxxx, XX 00000
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|||
Telephone:
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(000)
000-0000
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|||
Fax:
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(000)
000-0000
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ATTACHMENT
to letter dated March 12, 2005 to 99¢ Only Stores
TERMS
AND CONDITIONS
1.
Amounts not paid within 30 days of the invoice date may be subject to interest
charged at the rate of 2% per month.
2.
We
charge for reasonable administrative travel, and out-of pocket expenses as
incurred. We expect expenses for this project (also referred to as "engagement")
to be minimal (and we will attempt to keep such expenses as low as reasonably
practicable) and to be for such things as travel expenses, meals when
out-of-town, document production, long distance telephone calls, messenger
and
other delivery fees, tax fees, postage, mileage for "non-commute" driving
(at
the current IRS standard mileage rate), parking and other local travel expenses,
photocopying and other reproduction costs, clerical staff overtime, word
processing charges, charges for computer time and other similar items. All
such
costs and expenses will be charged at our cost, 99 Only may, at its discretion,
provide SA with administrative and operational support resources such as
long
distance telephones, faxes, postage, etc,
3.
You
agree to pay transportation, meals, lodging and all other related costs of
out-of-town travel by our personnel. 99 Only agrees to pay for SA consultants'
driving, incurred in the performance of 99 Only business, in excess of a
regular
commute (a regular commute is defined as twenty miles in each direction),
To the
extent practicable, at their discretion, SA consultants will attempt to carpool.
Other travel expenses, outside of the aforementioned, may be incurred and
reimbursed if agreeable to both 99 Only and SA.
4.
By
engaging us to perform the work described above, you acknowledge that the
payment to us provided for above is reasonable under the
circumstances.
5.
This
Agreement will not take effect, and we will have no obligation to provide
services, until we receive from you a signed copy of this
Agreement.
6.
You
are hiring us as consultants for the above described work. We will take
reasonable steps to keep you informed of progress and to respond to your
inquiries. We are not required to perform any work other than that as described
above unless a modification to the above described work is agreed to in writing
by both parties. If any such changes are made and cause an increase or decrease
in the time required for performance of any part of the services, the estimated
fees will be revised to reflect the agreed changes.
7.
You
hereby authorize us to apply the retainer balance to our periodic invoices
without notice to you of our intention to do so. Should you have any question
concerning the appropriateness of any fee or charge, you agree to notify
as
within 30 days of the date of the statement on which such fee or charge is
listed. You agree that failure to so notify us will signify your Agreement
that
the fees and charges listed in the statement are appropriate.
8.
You
may terminate our services early by providing 30 calendar days' advance written
notice and by paying all professional fees and expenses actually incurred
for
services rendered through the effective date of the termination. In the event
that 30 calendar days' advance notice is not provided, you are obligated
to pay
a ''termination transition fee." This fee is based on SA's losses and expenses
related to reassignment of consultants and to business opportunities SA did
not
pursue while consultants were dedicated to your project. The "termination
transition fee" is 50% of the monthly retainer fee. The "termination transition
fee" is only payable if, and to the extent, 30 calendar days' advance notice
is
not provided, and it may be waived by SA in its sole discretion pursuant
to an
orderly wind down of the project.
9.
Each
party acknowledges and agrees that any and all information of whatever kind
or
nature relating to this Agreement, or which each party acquires in connection
with or as a result of this Agreement, or which each party receives or becomes
aware of during the term of this Agreement, concerning the other party and
its
clients, is confidential and proprietary ("Proprietary Information").
Proprietary Information does not include any information that is in the public
domain, or is obtained from public sources through no breach of this Agreement,
or information learned by the acquiring party from a third party who to the
acquiring party's knowledge after due inquiry does not possess such information
unlawfully. The acquiring part will use Proprietary Information only for
the
purposes of this Agreement, and will not duplicate it or use it at any time
to
provide, perform or furnish any services or to invent, create, modify, adapt
or
manufacture any products that would compete with the other party or, in your
case, will not be used instead of SA's services or products. The acquiring
party
will limit access to Proprietary Information to only those of its employees
who
have need for such access to perform this Agreement and will not disclose
it to
a third party unless disclosure is approved in advance in writing by the
disclosing party.
You
acknowledge and agree that SA shall be the sole owner of all intellectual
property provided to you, including all trade secret information, or proprietary
business models including, without limitation, any trademarks, logos, business
processes, and software of SA, whether now existing or hereafter arising.
You
further agree that you do not have, nor in the future claim to have, any
rights
or interests of any nature whatsoever in such Intellectual
Property.
SA
acknowledges and agrees that 99 Only shall be the sole owner of all intellectual
property provided to SA, including all trade secret information, or proprietary
business models including, without limitation, any trademarks, logos, business
processes, and software of 99 Only, whether now existing or hereafter arising.
SA further agrees that we do not have, nor in the future claim to have, any
rights or interests of any nature whatsoever in such Intellectual
Property.
10.
We
may withdraw our services by providing 30 calendar days advance written notice,
or earlier with your consent, or for good cause. Good cause includes your
breach
of this Agreement or your failure to pay any bills when due. When our services
conclude, all unpaid charges will immediately become due and
payable.
11.
Whether our relationship with you is for project consulting or for on-site
full-time or part-time interim management, it is our policy to provide our
consultants including the Partners of SA (collectively ''consultants") to
you on
a temporary basis only. There is no Agreement, either expressed or implied,
that
such consultants are to become employees of your company either before or
after
our engagement by you. They will remain our consultants, subject to our control
and supervision.
It
is
acknowledged that the economic loss to SA arising from an SA consultant leaving
SA to become an employee of your company is significant but impossible to
determine. Accordingly, if any of our consultants terminates their relationship
with us to be employed by you, you agree to pay to us, prior to the Commencement
of his or her employment with you, so long as that employment occurs within
twelve months of the their last day working on your client engagement, and
without the necessity of further notice or a demand for payment from us,
30% of
their first year total compensation, to include both cash and non-cash
compensation, of such employee. This requirement applies whether that consultant
was engaged in project consulting or interim management activities, and is
recognized as fair on the basis it is the probable fee which would have been
required to be paid to an executive search firm to recruit a qualified person
for that position.
12.
Unless damages arising from work performed by SA are a direct result of the
gross negligence of SA, then it is agreed that any damages to you or any
of your
parent, subsidiaries, or related companies, or any of your employees, or
agents
shall be limited to the actual amount of fees paid to SA for the engagement.
In
no event shall SA be liable for consequential damages.
13.
In
the event of any dispute between us as to any issue arising out of our
relationship, whether relating to fees, costs, the quality of our work or
any
claims for damages by either of us, the matter shall be arbitrated according
to
the rules of either J.A.M.S./Endispute or the American Arbitration Association,
as the party petitioning for arbitration may elect to use. The decision of
the
arbitrator shall be final and binding. The binding arbitration referred to
in
this paragraph is supplemental to the right of the client. to first engage
in
nonbinding mediation. The parties agree that the laws of the State of California
shall govern.
14.
Subject to any limitations set by statute, all reasonable fees and expense
incurred by the prevailing party in any arbitration under, including those
incurred in negotiating, compelling arbitration, confirming the award, and
collection of judgment, shall be added as costs to the arbitrator's award.
"Costs" include expenses not otherwise recoverable by a prevailing Party
under
Code of Civil Procedure section 1033.5 so long as they are actually incurred
and
reasonably necessary.
15.
Any
notice to be given hereunder shall be delivered personally or by deposit
in the
United Stales mail, postage prepaid, certified or registered, and addressed
to
the party receiving notice at the address set forth below their respective
signatures. Notice shall be deemed given on delivery or forty-eight (48)
hours
after mailing as provided herein.
16.
Neither party shall be responsible for delays or failures in performance
resulting from acts beyond the reasonable control and without the fault or
negligence of such Party and/or its subcontractors. Such acts shall include
but
not be limited to acts of God, riots, acts of war, epidemics, governmental
regulations superimposed after the fact, fire, communication line failures,
power failures, earthquakes, floods or other natural disasters (the "Force
Majeure Event"). Delays in delivery or in meeting completion dates due to
Force
Majeure Events shall automatically extend such dates (and the term of this
Agreement, if appropriate) for a period equal to the duration of such events,
provided that the party whose performance has been impaired on account of
a
Force Majeure Event has given immediate written notice to the other Party
of the
occurrence and estimated impact of such Force Majeure Event. If a Force Majeure
Event should last more than sixty (60) days, the party whose performance
has not
been impaired on account of the Force Majeure Event may, at its option, elect
to
terminate this Agreement without further liability to either Party.
XXXXXXX
ASSOCIATES
0000
Xxxxx Xxxxx
Xxxxxx
Xxxx, XX 00000
phone:
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(000)
000-0000
|
|
fax:
|
(000)
000-0000
|
|
xxxxxxxx@xxxxxxxxxxxx.xxx
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July
6,
2005
Xx.
Xxxx
Xxxxxxxx
Chief
Executive Officer
99¢
Only
Stores
0000
Xxxxx Xxxxxxx Xxxxxx
Xxxx
xx
Xxxxxxxx, XX 00000
Dear
Xx.
Xxxxxxxx:
This
letter summarizes the Xxxxxxx Associates ("SA") proposal to provide additional
professional services to 99¢ Only Stores ("99 Only"). This letter forms an
Addendum to our Agreement of March 12, 2005, for such professional
services.
Engagement
Schedule and Fees
SA
shall
provide an additional financial consultant, specifically Xx. Xxx Xxxxx, to
provide financial and accounting assistance to 99 Only.
The
start
date for Xx. Xxxxx is to be Wednesday, July 6, 2005.
Fees
The
agreed hourly rate for Xx. Xxxxx is $130 (One Hundred and Thirty dollars),
with
a guaranteed minimum of 40 hours a week. Fees will be billable twice a month
for
the periods of the 1st
to the
15th,
and the
16th
to the
end of the month, based on the actual hours worked each period. Fees are
due as
per the engagement letter of March 12, 2005.
SA
requires an initial deposit of two weeks of fees for Xx. Xxxxx, or $10,400
(Ten
Thousand and four Hundred Dollars), upon commencement of Xx. Xxxxx'x engagement,
such deposit to be applied to the final invoice(s) for his
services.
Terms
The
terms
and conditions of the Attachment to our engagement letter of March 12, 2005
shall also apply to this Addendum for Xx. Xxxxx'x services. In addition,
you
agree not to engage or contract directly Xx. Xxxxx for any consulting services
for a period of one year after he completes any and all work on the 99 Only
engagement via SA under this Agreement. You also agree to keep all terms
and
conditions of this Agreement strictly confidential.
We
are
please to be of further service to you.
Sincerely,
Xxxxxxx
Associates
/s/
X.X.
Xxxxxxx
Xxxxx
X.
Xxxxxxx
President
and Senior Partner
I
HAVE
READ AND UNDERSTAND THE FOREGOING, AND AGREE.
By:
|
/s/
Xxxx Xxxxxxxx
|
7/6/05
|
||
Xxxx
Xxxxxxxx, CEO, 99¢ Only Stores
|
date
|
|||
Address:
|
0000 Xxxxx Xxxxxxx Xxxxxx | |||
|
Xxxx
xx Xxxxxxxx, XX 00000
|
|||
Telephone:
|
(000)
000-0000
|
|||
Fax:
|
(000)
000-0000
|
XXXXXXX
ASSOCIATES
0000
Xxxxx Xxxxx
Xxxxxx
Xxxx, XX 00000
phone:
|
(000)
000-0000
|
|
fax:
|
(000)
000-0000
|
|
xxxxxxxx@xxxxxxxxxxxx.xxx
|
March
28,
2005
Xx.
Xxxx
Xxxxxxxx
Chief
Executive Officer
99¢
Only
Stores
0000
Xxxxx Xxxxxxx Xxxxxx
Xxxx
xx
Xxxxxxxx, XX 00000
Dear
Xx.
Xxxxxxxx:
This
letter summarizes the Xxxxxxx Associates ("SA") proposal to provide additional
professional services to 99¢ Only Stores ("99 Only"). This letter forms an
Addendum to our Agreement of March 12, 2005, for such professional
services.
Engagement
Schedule and Fees
SA
shall
provide an additional financial consultant, specifically Xx. Xxxx Xxxxxxx,
to
provide financial and accounting assistance to 99 Only
The
start
date for Xx. Xxxxxxx is to be Tuesday April 5, 2005.
Fees
The
agreed hourly rate for Xx. Xxxxxxx'x is $120 (One Hundred and Twenty dollars),
with a guaranteed minimum of 40 hours a week. If work is required of Xx.
Xxxxxxx
beyond this amount per week we will obtain your approval prior to performing
such work. The minimum period of the engagement for Xx. Xxxxxxx shall be
three
months commencing April 5, 2005.
Fees
will
be billable twice a month for the periods of the 1st to the
15th, and the 16th to the end of the month, based on the
actual hours worked each period. Fees are due as per the engagement letter
of
March 12, 2005.
SA
requires an initial deposit of two weeks of fees for Xx. Xxxxxxx, or $9,600
(Nine thousand six hundred dollars), upon commencement of Xx. Xxxxxxx'x
engagement, such deposit to be applied to the final invoice(s) for his
services.
Terms
The
terms
and conditions of the Attachment to our engagement letter of March 12, 2005
shall also apply to this Addendum for Xx. Xxxxxxx'x services, except that
the
second paragraph of item 11 thereof shall not apply in respect to Xx. Xxxxxxx'x
services.
We
are
please to be of further service to you.
Sincerely,
Xxxxxxx
Associates
/s/
X.X.
Xxxxxxx
Xxxxx
X.
Xxxxxxx
President
and Senior Partner
I
HAVE
READ AND UNDERSTAND THE FOREGOING, AND AGREE.
By:
|
/s/
Xxxx Xxxxxxxx
|
3/31/05
|
||
Xxxx
Xxxxxxxx, CEO, 99¢ Only Stores
|
date
|
|||
Address:
|
0000 Xxxxx Xxxxxxx Xxxxxx | |||
|
Xxxx
xx Xxxxxxxx, XX 00000
|
|||
Telephone:
|
(000)
000-0000
|
|||
Fax:
|
(000)
000-0000
|
XXXXXXX
ASSOCIATES
0000
Xxxxx Xxxxx
Xxxxxx
Xxxx, XX 00000
phone:
|
(000)
000-0000
|
|
fax:
|
(000)
000-0000
|
|
xxxxxxxx@xxxxxxxxxxxx.xxx
|
May
3,
2005
Xx.
Xxxx
Xxxxxxxx
Chief
Executive Officer
99¢
Only
Stores
0000
Xxxxx Xxxxxxx Xxxxxx
Xxxx
xx
Xxxxxxxx, XX 00000
Dear
Xx.
Xxxxxxxx:
This
letter summarizes the Xxxxxxx Associates ("SA") proposal to provide additional
professional services to 99¢ Only Stores ("99 Only"). This letter forms an
Addendum to our Agreement of March 12, 2005, for such professional
services.
Engagement
Schedule and Fees
SA
shall
provide an additional financial consultant, specifically Xx. Xxxxx Xxxxxxxx,
to
provide financial and accounting assistance to 99 Only.
The
start
date for Xx. Xxxxxxxx is to be Wednesday May 4, 2005.
Fees
The
agreed hourly rate for Xx. Xxxxxxxx is $135 (One Hundred and thirty five
dollars), with a guaranteed minimum of 40 hours a week. The minimum period
of
the engagement for Xx. Xxxxxxxx shall be three months commencing May 4,
2005.
Fees
will
be billable twice a month for the periods of the 1st
to the
15th,
and the
16th
to the
end of the month, based on the actual hours worked each period. Fees are
due as
per the engagement letter of March 12, 2005.
SA
requires an initial deposit of one week of fees for Xx. Xxxxxxxx, or $5,400
(Five thousand four hundred dollars), upon commencement of Xx. Xxxxxxxx'x
engagement, such deposit to be applied to the final invoice(s) for his
services.
Terms
The
terms
and conditions of the Attachment to our engagement letter of March 12, 2005
shall also apply to this Addendum for Xx. Xxxxxxxx'x services, except that
the
second paragraph of item 11 thereof shall not apply in respect to Xx. Xxxxxxxx'x
services. In addition, you agree not to engage or contract directly Xx. Xxxxxxxx
for any consulting services for a period of one year after he completes any
and
all work on the 99 Only engagement via SA under this Agreement without the
express written consent of SA. You also agree to keep all terms and conditions
of this Agreement strictly confidential.
We
are
please to be of further service to you.
Sincerely,
Xxxxxxx
Associates
/s/
X.X.
Xxxxxxx
Xxxxx
X.
Xxxxxxx
President
and Senior Partner
I
HAVE
READ AND UNDERSTAND THE FOREGOING, AND AGREE.
By:
|
/s/
Xxxx Xxxxxxxx
|
5/5/05
|
||
Xxxx
Xxxxxxxx, CEO, 99¢ Only Stores
|
date
|
|||
Address:
|
0000 Xxxxx Xxxxxxx Xxxxxx | |||
|
Xxxx
xx Xxxxxxxx, XX 00000
|
|||
Telephone:
|
(000)
000-0000
|
|||
Fax:
|
(000)
000-0000
|
XXXXXXX
ASSOCIATES
0000
Xxxxx Xxxxx
Xxxxxx
Xxxx, XX 00000
phone:
|
(000)
000-0000
|
|
fax:
|
(000)
000-0000
|
|
xxxxxxxx@xxxxxxxxxxxx.xxx
|
April
22,
2005
Xx.
Xxxx
Xxxxxxxx
Chief
Executive Officer
99¢
Only
Stores
0000
Xxxxx Xxxxxxx Xxxxxx
Xxxx
xx
Xxxxxxxx, XX 00000
Dear
Xx.
Xxxxxxxx:
This
letter summarizes the Xxxxxxx Associates ("SA") proposal to provide additional
professional services to 99¢ Only Stores ("99 Only"). This letter Forms an
Addendum to our Agreement of March 12, 2005, for such professional
services.
Engagement
Schedule and Fees
SA
shall
provide an additional financial consultant, specifically Xx. Xxxxx Xxxxx,
to
provide financial and accounting assistance to 99 Only.
The
start
date for Xx. Xxxxx is to be Monday May 2, 2005.
Fees
The
agreed hourly rate for Xx. Xxxxx is $140 (One Hundred and Forty dollars),
with a
guaranteed minimum of 32 hours a week. If work is required of Xx. Xxxxx beyond
this amount per week we will obtain your approval prior to performing such
work.
The minimum period of the engagement for Xx. Xxxxx shall be two months
commencing May 2, 2005.
Fees
will
be billable twice a month for the periods of the 1st
to the
15th,
and the
16th
to the
end of the month, based on the actual hours worked each period. Fees are
due as
per the engagement letter of March 12, 2005.
SA
requires an initial deposit of two weeks of fees for Xx. Xxxxx, or $4,480.00
(Four thousand, four hundred and Eighty Dollars), upon commencement of Xx.
Xxxxx'x engagement, such deposit to be applied to the final invoice(s) for
his
services.
Terms
The
terms
and conditions of the Attachment to our engagement letter of March 12, 2005
shall also apply to this Addendum for Xx. Xxxxx'x services, except that the
second paragraph of item 11 thereof shall not apply in respect to Xx. Xxxxx'x
services. In addition, you agree not to engage or contract directly Xx. Xxxxx
for any consulting services for a period of one year after he completes any
and
all work on the 99 Only engagement via SA under this Agreement. You also
agree
to keep all terms and conditions of this Agreement strictly
confidential.
We
are
please to be of further service to you.
Sincerely,
Xxxxxxx
Associates
/s/
X.X.
Xxxxxxx
Xxxxx
X.
Xxxxxxx
President
and Senior Partner
I
HAVE
READ AND UNDERSTAND THE FOREGOING, AND AGREE.
By:
|
/s/
Xxxx Xxxxxxxx
|
5/5/05
|
||
Xxxx
Xxxxxxxx, CEO, 99¢ Only Stores
|
date
|
|||
Address:
|
0000 Xxxxx Xxxxxxx Xxxxxx | |||
|
Xxxx
xx Xxxxxxxx, XX 00000
|
|||
Telephone:
|
(000)
000-0000
|
|||
Fax:
|
(000)
000-0000
|
XXXXXXX
ASSOCIATES
0000
Xxxxx Xxxxx
Xxxxxx
Xxxx, XX 00000
phone:
|
(000)
000-0000
|
|
fax:
|
(000)
000-0000
|
|
xxxxxxxx@xxxxxxxxxxxx.xxx
|
August
1,
2005
Xx.
Xxxx
Xxxxxxxx
Chief
Executive Officer
99¢
Only
Stores
0000
Xxxxx Xxxxxxx Xxxxxx
Xxxx
xx
Xxxxxxxx, XX 00000
Dear
Xx.
Xxxxxxxx:
This
letter summarizes the Xxxxxxx Associates ("SA") proposal to provide additional
professional services to 99¢ Only Stores ("99 Only"). This letter Forms an
Addendum to our Agreement of March 12, 2005, for such professional
services.
Engagement
Schedule and Fees
SA
shall
provide an additional financial consultant, specifically Mr. Herb Chick,
to
provide financial and accounting assistance to 99 Only.
The
start
date for Mr. Chick is to be Monday August 1, 2005.
Fees
The
agreed hourly rate for Mr. Chick is $140 (One Hundred and Forty dollars),
with a
guaranteed minimum of 25 hours a week. Fees will be billable twice a month
for
the periods of the 1st
to the
15th,
and the
16th
to the
end of the month, based on the actual hours worked each period. Fees are
due as
per the engagement letter of March 12, 2005.
SA
requires an initial deposit of two weeks of fees for Mr. Chick, or $7,000
(Seven
Thousand Dollars), upon commencement of Mr. Chick's engagement, such deposit
to
be applied to the final invoice(s) for his services.
Terms
The
terms
and conditions of the Attachment to our engagement letter of March 12, 2005
shall also apply to this Addendum for Mr. Chick's services. In addition,
you
agree not to engage or contract directly Mr. Chick for any consulting services
of any type for a period of one year after he completes any and all work
on the
99 Only engagement via SA under this Agreement. You also agree to keep all
terms
and conditions of this Agreement strictly confidential.
We
are
please to be of further service to you.
Sincerely,
Xxxxxxx
Associates
/s/
X.X.
Xxxxxxx
Xxxxx
X.
Xxxxxxx
President
and Senior Partner
I
HAVE
READ AND UNDERSTAND THE FOREGOING, AND AGREE.
By:
|
/s/
Xxxx Xxxxxxxx
|
8/1/05
|
||
Xxxx
Xxxxxxxx, CEO, 99¢ Only Stores
|
date
|
|||
Address:
|
0000 Xxxxx Xxxxxxx Xxxxxx | |||
|
Xxxx
xx Xxxxxxxx, XX 00000
|
|||
Telephone:
|
(000)
000-0000
|
|||
Fax:
|
(000)
000-0000
|