Summary of Sitrick Engagement Letter Provisions K&E retains Sitrick on behalf of you. Both you and K&E are signatories on the Engagement Letter. 1. Elective date of engagement is March 7, 2011. 2. A. Paragraph 2 provides for JE payment of a "non-refundable retainer fee of $60,000 as a minimum annual fee." Sitrick's letter also requests $10,000 refundable expense retainer. B. Sitrick's time charges range from $185 to $895 per hour. - For whom are we paying $895 an hour? Paraprofessional time is $65 per hour. $895 per hour is more that most of JE's attorneys charge. C. Non-Refundable fee is applied against time charges only. If time charges exceed $60,000 for the year then JE billed for the excess. Expense charges are not applied against the retainer and are billed separately on the invoice, but are applied against $10K retainer. D. Time is billed in quarter hour increments. E. Travel time billed "portal to portal" for travel outside Sitrick's offices. F. Paragraph 2 also makes reference to a "success fee" that Sitrick customarily requests if they believe that Sitrick has performed services which result in significant benefits to the client beyond those Sitrick believes a normal consulting and public relations firm could achieve. Any success fee would be subject to the client's agreement. G. In absence of written notification of a billing dispute within 30 days of the date of an invoice, Sitrick assumes that there is no objection to the inoice and K&E and JE agree to the reasonableness of the fees and costs billed and the necessity of the services rendered. H. Payment of invoice due within 20 days of invoice date. 3. Sitrick engagement may be terminated by any party on 30 days prior written notice. 4. If Sitrick employees required or requested to provide testimony, documents or other evidence in any proceeding, JE must pay Sitrick for time spent in preparing for and providing such testimony, docs or evidence, at Sitrick's stan