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Res No 011-15-14350RESOLUTION NO.011-15-14350 A Resolution authorizing the City Manager to execute an agreement with Squire,Sanders &Dempsey,LLP to represent the Cityas bond counsel for the tax-exempt loan refinancing WHEREAS Squire,Sanders &Dempsey LLP agrees to represent the CityofSouth Miami,Floridaas bond counsel in connection with the tax-exempt loan to refinance the City'sFlorida Municipal LoanCouncil Series 2001A and Series 2002A;and WHEREAS,the legal services rendered in connection with this matter will be a fixed fee of $20,000 plus costs incurred in connection with the representation,such as travel costs,photocopying,courier deliveries,long distance telephone charges, telecopier charges,filing fees,computer-assisted research,and other similar expenses. NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THECITYOF SOUTH MIAMI,FLORIDA THAT; Section 1,The City Manager is authorized to execute an agreement with Squire,Sanders &Dempsey LLP to represent the City of South Miami as bond counsel in connection with the tax-exempt loan to refinance the City'sFlorida Municipal Loan Council Series 2001Aand Series 2002Awithafixed fee of $20,000 plus costs incurred in connection with the representation,suchas travel costs,photocopying,courier deliveries,long distance telephone charges,telecopier charges,filingfees,computer- assisted research,and other similar expenses. Section 2.This resolution shall take effect immediately upon adoption. PASSED AND ADOPTED this 21 dayof January b2015. ATTEST: READ AND APPROVED AS TO FORM, U\NG)JAG^JJGAWiT AND APPROVED: COMMISSION VOTE:5-0 Mayor Stoddard:Yea Vice Mayor Harris:Yea Commissioner Edmond:Yea Commissioner Liebman:Yea Commissioner Welsh:Yea Page 1 of 1 Additions shown by underlining and deletions shown by overstriking. 4#MiSoutlfMiami THE CITY OF PLEASANT LIVING CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER-OFFICE MEMORANDUM To: From: Date: Subject Background: Amount: Account: Attachments: The Honorable Mayor &Members of the City Commission Steven Alexander,City Manager January 20,2015 Agenda Item No.:^J A Resolution authorizing the City Manager to execute an agreement with Squire,Sanders &Dempsey,LLP to represent the City as bond counsel for the tax-exempt loan refinancing On September 24,2012 the City Commission approved Ordinance 18-12- 2134 authorizing the issuance of its Capital Improvement Revenue Refunding Note,Series 2012,in the principal amount not to exceed $5,800,000,for the purpose ofrefinancing certain of the City's outstanding indebtedness.The refinancing was to provide a present valuesavingsofover$640,000or12%of the bondsrefundedbasedupon the 20-year interest rate (3.50%)providedby BB&T.Unfortunately,due to the MetroSouthlawsuitwhichwasfiledafewdayspriorto the closing of the Series 2012 Note,BB&T decided not to move forward with the loan and the City was unable to refinance. Fortunately,the Cityhassince settled the Metro Southlawsuit,atno financial consequence,and interest rates currently appear favorable.Itis forthisreasonthatthe City is moving forward with pursuing a refinancing of the City'sexistingdebtandseekingapprovalof the Commission for the required entities to complete the refinance. Squire,Sanders&Dempsey LLP agreesto represent the City ofSouth Miami,Florida asbondcounsel in connectionwiththetax-exemptloanto refinance the City's Florida MunicipalLoan Council Series2001Aand Series 2002A.Thelegal services rendered in connection with this matter will bea fixed feeof $20,000.In addition,anyother charges madeor incurredinconnectionwiththerepresentation,suchastravelcosts, photocopying,courier deliveries,long distance telephone charges, telecopier charges,filing fees,computer-assisted research,and other similar expenses. $20,000 N/A,the Attorney's feesare included within the Refinancing Resolution Squire,Sanders &Dempsey LLP,engagement letter. SQUIRE© PATTON BOGCS Mr.Steven Alexander CityManager City of South Miami,Florida 6130SunsetDrive South Miami,Florida 33143 November 25,2014 Squire Patton Boggs (US)LLP 200 South Biscaync Boulevard. Suite 4100 Miami,Florida3313] 0+1 3055777000 F+13055777001 Squirepattonboggs.com Luis Reiter T+1305 5777710 Luis.reiter@squirepb.com Re: SSXS^'FI°rida **"**^°°«°>*^es DearMr.Alexander: Pleased^St^^Boggs"or the «Fi^Xm agrees to represent the City of sSlE?Sda ^CiX f*J ***»Patt0n B°^switlitlieproposedcaptionedloan(the "LoS)(ty }Mbond C0UnseI in connection ethics *At5£3S^*<"law of professionalusconsistsofthisletterandtheenSSSreWmentagreementbetween("Standard Terms").The engagementISSUES r^0""^°f Engageme*each other and to outline for you certain Tmn^t ^SPed to address our responsibilities to form an attomey-client «Jb£^£SX mato S?"*^l**"**early «weWerequestthatyoureviewthisBgwSa^^T 1S J"*""1 by the law ofFlQ^-will be indicating to us that you b^^^^J^f^™*^s engagement youtermsofourrelationship,such as the ^^£S^^^«*md-tand the fixe,W^^^e1^^^^co-ection with this matter will be aconnectionwithourrepresl^"£S*£J"*"*ch**es •»*«incurred indistancetelephonecharges,telecopei^a™SLsS/™f ymg'C0Urier Series,longrelatedexpenses.Please note that payrS^J^T^'^*research md othe'me Loan or,if the Loan is abandoned ^eS not S ff °harfoS iS due Upon closing ofwithinthirtydaysofourstatementSebyFebruary28>2015>Payment is due 4303319/1/MIAMI Mr.Steven Alexander City of South Miami,Florida November 25,2014 Page2 Any ofthe following alternative methods for acceptance of this engagement agreement will be effective:(i)signingand returning a copy ofthis letter,or(ii)assigning us work, including continuing anyprevious assignment ofwork,or (iii)sendingusaletteror e-mail clearly referencing this engagement agreement and agreeing toit.However,even if you accept thisengagementagreementbymethods(ii)or (iii),Iwouldappreciateitifyouwouldconfirm your acceptance by countersigning acopyofthisletterandreturningitto me.If youdonot agree withoneormoreofthe provisions ofthe engagement agreement,pleasecontactmesothat wecantrytoaddressyour concerns. Throughout our relationship,wewantyoutobe satisfied withtheprofessional services thatweperformonyourbehalf.Accordingly,weencourageyoutocontactus just assoonas youhaveanyquestionsorconcernsregardingourservicesorourfees. Letter and Standard Terms Accepted, including section on "Conflicts of Interest" CITY OF SOUTH MIAML-ELORIDA LR:ge Enclosure 4303319/1/MIAM1 airs, Luis Reiter By:^-^7*Date:\\%^\,201/ S^VerfAlexander City Manager SQUIRE© PATTON BOGGS Standard Termsand Conditions of Engagement Applicable Worldwide The Engagement Agreement between us consists oftheaccompanyingcoverletterand,as applicable,any separate Matter AcknowledgmentLetter(collectivelyand individually "EngagementLetter").Italso consists of Terms and Conditions of Engagement applicable worldwide andany TermsandConditions of Engagementapplicable forparticularjurisdictions (collectively and individually"StandardTermsandConditionsof Engagement"or "Standard Terms").The Engagement Agreementisthemeansbywhich you are retaining theFirm(as defined inthese Standard Terms and also referred to as "us"or "we"or"SPB")toprovidelegalservices. "You"and "yours"referstoourclient(s)defined morefullybelowinthesectionentitledWHOIS OUR CLIENT.For your convenience,set forth belowarethetopicscoveredintheseStandard Terms: The Firm 1 What Professionals Will ProvidetheLegal Services?*2 Our Services to You 2 Who Is Our Client?3 Conflicts of Interest •3 Public Policy Practice..4 Termination of Representation 4 How We Set Our Fees 6 Other Charges 6 Billing Arrangements and Payment Terms ,7 Revenue and Expense Sharing in Networks and Other Relationships with Independent Law Firms 8 Taxes 8 Data Protection and Privacy 8 Client and Firm Documents 8 Equality and Diversity ...v 9 Disclosure of Your Name 9 Firm Attorney Client Privilege 9 4303319/1/MIAMI Severability 9 Primacy 9 Entire Agreement 10 Governing Law 10 In Conclusion «10 THE FIRM The"Firm"or "SPB"means,asthecasemaybe, either Squire Patton Boggs (US)LLP1 or Squire PattonBoggs(UK)LLP,orSquirePatton Boggs (AU)LLP,3 or when necessary or appropriate underthe law of aparticular jurisdiction,anaffiliatelawfullypermittedto practice lawinthatjurisdiction."SquirePatton Boggs"isthecollectivetradenamefor an international legal practice of whichthose entitiesarethepractisingentities.Your engagement in this instance is with the entity4 whichsentyouthecoverletteraccompanying theseStandardTerms.Still,Squire PattonBoggs attorneysworldwideareavailabletomeetyour needsandthusSquirePattonBoggspersonnel fromotherSquirePattonBoggsentitiesmaybe selectedtoserveyouwhateverSquirePatton Boggsentityyoucontractwith.Theuse of "Squire Patton Boggs"as a trade orbusiness nameorbrandbyalloranyofsuchentities .shall notimplythattheinternationallegalpracticeis itself engagedintheprovision of legalor other services.Forfurther information pleasesee www.squirepattonboggs.com andthenselectthe ' 1 Squire Patton Boggs (US)LLP isa limited liability partnership organizedunderthelaws ofthe State ofOhio,USA. 2 Squire Patton Boggs (UK)LLP (trading as Squire Patton Boggs) isaLimited Liability Partnership registered inEnglandandWales withnumber 0C 335584authorisedandregulatedbytheSolicitors Regulation Authority.Alist ofthemembersandtheir professional qualificationsisopentoinspectionat7DevonshireSquare, London,.EC2M4YH. Squire Patton Boggs(AU)isa genera]partnership established under the laws ofWestern Australia. 4 Squire Patton Boggs includes partnerships or other entities ina number of differentnations.Duetolocallawson regulation ofthe legalprofession,theformallegalnamemaydifferinsome nations. optiontovisitthelegacySquire Sanders site www.squiresanders.com. This agreement shallapplytoall matters for which you might now or inthe future request our assistance,unless of course you and we agree inthe future toan updated versionof tiiis engagement agreement ortoa new or revised engagementagreementexpresslyreferringto and superseding this agreement inwholeorin part.We encourage youto retain this agreement. WHAT PROFESSIONALS WILL PROVIDE .THE LEGAL SERVICES? Inmost cases oneSPB attorney willbeyour principalcontact.From time to time that attorneymaydelegate parts of yourworkto other lawyers ortolegal assistants or nonlegal personnelintheFirmortooutside "contract5' personnel. OUR SERVICES TO YOU InourletterthatpresentstheseStandardTerms toyou,orinaseparateMatter AcknowledgementLetter,wewillspecifythe matteror case inwhichwewillbe representing you.Unlessweagreeinwritingtoexpandthe scope of our representation,animportant part of ouragreementisthat we are not your counselin othermatters,andyouwillnotrelyuponusto providelegalservicesformattersotherthanthat describedintherelevantletter.Forexample, unlessspecifiedin die relevantletter,our representation of youdoesnotincludeany responsibility for:review of your insurance policiestodetenninethepossibility of coverage relatingtothismatter;fornotification of your insurancecarriers about the matter,adviceto youaboutyourdisclosureobligationsunderU.S. securitieslawsoranyotherlawsorregulations; oradviceontaxconsequences.If atanytime youdonothaveaclearunderstanding of the legal services tobe provided or if youhave questionsregarding die scope of ourservices, wearerelyingonyouto communicate withus. 4303319/1/M1AMI We will apply our professional skill,experience and judgmentto achieve your objectives in accordance with the honored standards of our profession that all attorneys are required to uphold.However,we cannot guarantee the outcome of anymatter.Any expression of our professional judgment regarding your matter or the potential outcome is,of course,limited by our knowledge of thefactsandbasedonthelaw atthetimeof expression.Itis also subject to any unknown oruncertainfactorsor conditions beyond our control,including the unpredictable human element in the decisions of those with whomwe deal in undeitaking your representation. Theconfidentiality of protectedclient information (known as "confidences"and "secrets"iii some jurisdictions andas "informationrelatingto die representation of a client"inothers)willbepreservedin accordance withtheapplicablelaw of professionalethics, excepttotheextentnecessarytofurtheryour interestsorasauthorizedbyapplicable law. Your responsibilities tousin each representation that you ask us to undertake includeproviding full,complete and accurate instructions and other information to us in sufficient time to enable us to provideour services effectively. WHO IS OUR CLIENT? An essentialcondition of ourrepresentationis diat ouronlyclientisthe person orentity identifiedin die accompanyingletter.In die absence of anexpressidentification of ourclient inthetext oftheletter,ourclientisthepersonor entitytowhom die letteris addressed,even tiiough incertaininstancesthepayment of our feesmaybetheresponsibility of others.In situations inwhichourclientisanentity,we have addressed die letter to an authorized representative of die client.Throughout these standard terms,"you"referstotheentitythatis our client,not the individual addressed. Unless,specifically statedinourletter,our representation of youdoesnotextendtoany of youraffiliatesandwedonotassumeanyduties withrespecttoyouraffiliates.Forexample,if youareacorporation,ourrepresentationdoes notincludeany of yourdirectorindirectparents, subsidiaries,sister corporations,partnerships, partners,joint ventures,joint venturepartners, anyentitiesinwhichyouownaninterest,or,for youoryouraffiliates,anyemployees,officers, directors,orshareholders.If youarea partnershiporlimitedliabilitycompany,our representation does not extend totheindividual partners of thepartnershipormembers of the limitedliabilitycompany.If youarea joint venture,our representation doesnotextendto die participants.If you areatradeassociation, ourrepresentationexcludesmembers of the trade association*If youareagovernmental entity,ourrepresentationdoesnotincludeother governmentalentities,includingotheragencies, departments,bureaus,boardsorotherparts of thesame government If you.areanindividual, our representation doesnotincludeyourspouse, siblings,orotherfamilymembers.Ifyouarea trust,youareour only client.The beneficiaries arenotourclients,noristhetrusteeinany capacityotherthanas die fiduciaryfor die particulartrustinourrepresentation.Itwould benecessaryforrelatedparties,includingall those listed above,to enter intoa written engagement agreement with us much likethis onebeforetheywouldbecomeclientsandwe would assume duties towards them.You should knowthatourengagementagreementswitha numberofotherclientshaveasimilar provision. If youprovideuswithany confidential information ofyourrelatedpartiesoranyother entitiesor individuals duringour representation ofyou,wewilltreatitasyour information and maintainitsconfidentialityin accordance with our duties toyouasour client,butyouarethe exclusivepartytowhomweoweduties regardingsuchinformation. Exceptas specifically agreedbybothofus,the advice and communications that we render on your behalf are not tobe disseminated to or relied upon byanyotherparties without our written consent. 4303319/1/MIAMI CONFLICTS OF INTEREST Sincelegalpracticefirstbeganunderthename SquireSanders&Dempsey over100 years ago, tiiousands of corporations,other businesses, individuals,governmentalbodies,trusts,estates, and odier clients haveaskedSquirePatton Boggsattorneystorepresent them.Information onthenature of the Firm's clientsand practice is available upon request andat www.squirepattonboggs.corn,whereyoushould selecttheoptionstovisitthelegacySquire Sanders site www.squiresanders.com andthe legacy Patton Boggs site www.pattonboggs.com.Because of die broad base of clientsthatSquirePattonBoggs representsonavariety of legalmatters,itis possiblethatyoumayfind yourself inaposition adversetoanotherSquirePattonBoggsclientin counseling,litigation,businessnegotiations,or some other legal matter in which we donot represent you.Accordingly,followingan insurer'srecommendationweadopted die followingmodellanguagerecommended: Youagreethatwemaycontinuetorepresentor mayundertakeinthe fiiture torepresentexisting ornewclients,inany matter that isnot substantiallyrelatedtoourworkforyoueven if the interests of such clients in those other mattersaredirectlyadversetoyourinterestsor might be deemed to create a material limitation onourrepresentation of you.Weagree, however,that yourprospectiveconsentto conflictingrepresentationcontainedinthe preceding sentence shallnotapplyinany instance where,asaresultofour representation ofyou,wehaveobtainedproprietaryorother confidential information ofa non-public nature, that,if known tosuch other client,couldbeused inanysuch otiier matter by such clienttoyour material disadvantage.Insimilar engagement agreements withanumber of ourotherclients, wehaveaskedforsimilaragreementsto preserveourabilitytorepresentyou. PUBLIC POLICY PRACTICE Amongthewidearray of legalservicesthatwe provide to clients around the world are representations witii respectto die legislative, executive,administrative and oflier functions of governments(herein"publicpolicy" representations).Wehaveapublicpolicy practiceinbusinessregulation,defense,energy, resources and environmental matters,financial services,foodanddrug,domestic.and international trade*-health Gare,taxation, transportation,andnumerousotherareas affectedby government action.Information on die extensivescopeofourpublicpolicypractice, theotherareasinwhichweofferlegalservices, and die largenumberanddiversity of ourclients is available onourwebsiteoronrequest.Given. the breadtii ofourpublicpolicy practice,in agreeing toour representation ofyou,you shouldnot discount die possibility tiiat our representation of other clients in public policy matters at present orinthe future might adverselyaffectyourinterests,directlyor indirectly,ormightbedeemedtocreatea material limitation onourrepresentationofyou. A precondition toour forming an attorney/client relationship witiiyouand undertaking your representation isyour agreement tiiatsolongas such public policy representations arenot substantially related toour representation of you anddonotinvolvetheuse of materialethically protected client information to your disadvantage,the scope ofthe public policy representations tiiat wecan provide to existing or new clientswillnotbediminishedinany respect by our undertaking our representation of you even if tiiere would otiierwise bea conflict. Agreement by our otiier clients toan analogous waiver may protect die scope of legal services thatwecanprovidefor you, TERMINATION OF REPRESENTATION Youmay terminate our representation atany time,withor without cause,upon written notice tous.After receiving suchnotice,wewill cease torenderservicestoyouassoonasallowedby applicable law and ethical and/or court rules, whichmay include court approval ofour withdrawal from litigation.Your termination of ourserviceswillnotaffectyour responsibility for payment of legal services rendered and other charges incurred botii before termination and 4303319/1/MIAMJ afterwardsin connection with an orderly transition of the matter,including fees and other chargesarisinginconnectionwitii any transfer of filestoyouortoothercounsel,andyouagree topayallsuchamountsinadvanceuponrequest. Youagreetiiatthe Firm has die rightto withdrawfromits representation of you if continuingtherepresentationmightprecludeits continuing representation ofexistingclientson mattersadversetoyouor if tiiereareany circumstances even arguably raising aquestion implicating professional ethics,for example, because a question arises aboutthe effectiveness orenforceability of thisengagementagreement, ora question arisesabout conduct addressed by it,oranapparentconflictisthrustupon Squire PattonBoggsby circumstances beyondits reasonable control,suchasbya corporate merger ora decision to seek tojoin litigation thatisalreadyinprogress,ortiiereisanattempt to wididraw consent. hi anyof tiiese circumstances,you agree that Squire Patton Boggs would have the right to withdrawfrom die representation.Regardlessof whether youorwe terminate the representation, we would (with your agreement)assist inthe transition to replacement counselbytaking reasonable stepsin accordance witii applicable ethicalrulesdesignedtoavoid foreseeable prejudice toyour interests asa consequence of thetermination.Youagreethatregardless of whether youorwe terminate die representation (A)we would be paid byyoufor die work performed priorto termination;(B)our representation ofyoupriortoany tennination would not preclude Squire Patton Boggs from undertaking or continuing any representation of another parly;and(C)asaresultof Squire Patton Boggs5 representation of another party you would not argue or otiierwise use our representation of you prior to any termination to contend tiiatSquirePattonBoggsshouldbe disqualified. Whenwecomplete the.specificservicesyou haveretainedusto perform,our attorney-client relationship forthat matter willbe terminated at thattime regardless of anylaterbilling period. Toeliminate uncertainty,our representation of you endsin any event whenever tiiereisno outstanding request fromyouforourlegal services that requires our immediate actionand morethansix(6)montiis (180days)havepassed sinceourlastrecordedtimeforyouinthe representation,unlessthereisclearand convincing evidence of ourmutual understanding tiiat die representation hasnot cometoanend.After termination,if we choose to perform administrative or limited filing services onyourbehalf,includingbutnot limitedtoreceivingandadvisingyou of anotice under acontract,lease,consent order,or other documentwithcontinuingeffect,orfiling routine orrepeated submissions or renewals in intellectiia.1 propertyorothermatters,oradvising youtotake action,ourrepresentation of you lastsonlyforthe brief periodinwhichourtask is performed,unless youretainus iii writingat thattimetoperformfurtheroradditional services.After termination,if youlaterretainus toperfonnfurtheroradditionalservices,our attorney-clientrelationshipwillcommenceagain subject totheseterms of engagement-unless we bothchangethe tenns in writing atthattime. Followingtermination of ourrepresentation, changesmayoccurinapplicablelaws tiiat could impactyourfuturerightsandliabilities.Unless youactuallyengageusinwritingtoprovide additionaladviceonissuesarisingfromthe matterafterits completion,the Firmhasno continuingobligationtoadviseyouwithrespect tofuturelegaldevelopments. Duringorfollowingourrepresentationofyou, wewillbe entitled torecoverfromyoufeesfor anytimespentand other charges,calculatedat .Hie thenapplicablerates if weareaskedto testifyorprovide information inwritingasa result of our representation of youoranylegal requirements,or if our recordsfromour representation ofyouare demanded,orifany claimis brought against die Firmoranyofits personnelbasedonyouractionsoromissions(in additiontoanyothercostsinvolvingtheclaim), or if wemustdefendthe confidentiality of your communications undertheattorney-clientorany otherlegalprofessionalprivilege(inwhichcase wewilltotheextenttiiat circumstances permit makereasonableeffortstoinformyou of the 4303319/1/MIAMI requirement made uponusandgiveyouthe opportunity towaive privilege). HOW WE SET OUR FEES Unless another basisforbillingis established in thisengagementagreement,wewillbillyou monthlyforthe professional feesof attorneys, paralegals,andotherpersonnelincurredonyour behalfbasedontheirapplicableratesandthe number of hours tiiey devotetoyour representation.Overallfeeswillbeinaccord withthefactorsintheapplicablerulesgoverning professional responsibility.Thebillingratesof thepersonnelinitiallyassignedtoyour representationare geiiSally"specified"in fBe accompanyingengagementletter.Thebilling rates of ourattorneysandparalegalsvary, dependinggenerallyupontheexperienceand capabilities of theattorneyorparalegalinvolved. Unless otherwise agreedinwriting,wewill chargeyoufortheirservicesattheir applicable rates.Ourhourlybillingratesare.adjustedfrom timetotime,usuallyat the beginning of each year,bothonaselectedandfirmwide basis.In addition,as personnel gainexperienceand demonstrateimprovedskillsovertime,theymay advanceintocategoriesthatgenerallyhave higherhourlybillingrates.Advancementstoa highercategoryaretypicallymadeannually. Uponany adjustment inthe applicable rates,we will charge you the adjusted rates. At times clients ask us to estimate the total fees andotherchargesthattheyarelikelytoincurin connectionwitha particular matter.Whenever possible,wearepleasedtorespondtosuch requestswitiianestimateorproposedbudget. Still,itmustbe recognized tiiatourfeesare ofteninfluencedbyfactorsthatarebothbeyond our control and unforeseeable.This is particularlytrueinlitigationandotheradvocacy contextsinwhichmuch of theactivityis controlledbytheopposingpartiesandtheJudge, Arbitrator or other decision-maker. Accordingly,suchanestimateorproposal carriestheunderstandingthat,unlessweagree otiierwiseinwriting,itdoesnotrepresenta maximum,minimum,orfixedfee quotation. Theultimatecostfrequentlyismoreorlessthan theamountestimated.Accordingly,wehave madenocommitmenttoyou concerning die maximum fees and coststhatwillbe necessary toresolveor complete tin'smatter.We will not be obliged to continue work if the feesorother chargesaccruedonamatterreachanestimate previouslygivenandarevisedestimatecannot be agreed.Itisalsoexpresslyunderstoodtiiat payment of ourfeesand charges isinnoway contingentontheultimate outcome of the matter. OTHER CHARGES Asanadjuncttoprovidinglegalservices,we mayincurandpayavariety of chargesonyour behalfor charge for certain anciUary support services.Whenever we incur such charges on your behalf orchargeforsuchancillarysupport services,webillthemtoyou separately or arrange forthemtobebilledto you directly.We mayalsorequireanadvance payment fromyou forsuch charges.Thesecharges typically relate to long-distance telephonecalls;messenger, cornier,andexpressdeliveryservices;facsimile and similar communications;document printing, reproduction,scanning,imagingandrelated expenses;translations andrelated charges;filing fees;depositionsand transcripts;witness fees; travel expenses;computer research;and charges madebythirdparties(such as outsideexperts andconsultants,printers,appraisers,localand foreign counsel,governmentagencies,airlines, hotelsandthelike).Otherchargeswill generally beitemizedonyour bill,andwillalso besubjectto VAT whereapplicable.Any bank charges whichweincurwhen making check paymentsor telegraphic transfers of moneywill bechargedtoyouinclusive of ahandlingfee. Our charges for fliese ancillary support services generallyreflectourdirectandindirectcosts, but charges forcertainitemsexceedour actual costs.Forsomeservices,particularly thosethat involve significant technologyand/orsupport servicesprovided by theFinn(suchasimaging documents and computer research),we attempt fromtimeto time toreducecosts by contracting withvendorstopurchasea minimum volume of servicethat is beyond theneeds of anysingle client.Inthosecases,wemaybillyouataper 4303319/1/MIAMI unit rate thatmaynot reflect the quantity discountsweobtain.In many casesthetotal quantitythatwillbeusedbyallclients of the Firmoverayearorotherperiod of time isnot certain.Our charge forfaxservicesistypically basedonachargeperpageratherthanthecost ofthe telephone usage,Intheevent any of our statementsforsuchservicesarenotpaidbytheir duedates,youagreethatwehave die rightnotto advanceanyfurtheramountsonyour behalf. Whenyousendusaletterat die request of your auditors asking usforaresponseonanyloss contingencies,we willcharge you a fixed feefor ourresponsethatvarieswitiithelevel of difficulty ofdie response. Letter Type Description Rate Clean Nolitigation reported ,US $550 Normal 1-3 cases US $850 Extraordinary >3 cases US $1,350 Update Update of prior response US $400 No-Services Verifying no work for client duringfiscal year US$75 Wliere we engageotherstoacton your behalf wedosoasyouragentandwe will not be responsibleforanyactoromission of those parties.Notwithstandingouradvancepayments of any charges,youwillbesolelyresponsible forallinvoicesissued by thirdparties.Itisour policyto arrange foroutside providers of servicesinvolvingrelativelysubstantial charges (suchasthefees of outside consultants,expert witnesses,appraisers,andcourtreporters)tobill youdirectly. Prompt paymentbyyou of invoices generated by third-party vendorsisoften essential toour abilitytodeliverlegalservicestoyou. Accordingly,youagreethatwehave die rightto treatany failure byyoutopaysuchinvoicesina timelymannertobeamaterialbreach of your obligationtocooperatewitiius. BILLING ARRANGEMENTS AND PAYMENT TERMS We will billyouonaregularbasis -normally, each month -for both feesand other charges. You agree to make payment within 30 days of die date of our statement,unless.a different period oftimeis specified inthe Engagement Letter.Ifyouhaveanyissuewithour statement, you agreetoraiseit specifically before30days fromthedate of our statement oranyotherdue date established inanEngagementLetter.Ifthe issueisnotimmediatelyresolved,youagreeto payallfeesandotherchargesnot directly affected bythe issue before 30 days from the original billorany other duedate established in an Engagement Letterandall amounts affected bythe issue within 10 days of its resolution.If we have rendered a final bill and we become liableforotherchargesincurredonyourbehalf, we will be entitled to render.a further billor bills to recover those amounts.In die event that a statement isnotpaidinfullbefore 30 daysfrom thedateofourstatementoranyotherduedate established in an Engagement Letter,interest and/or latechargeswillbeimposedonany unpaidfeesand/orcostsatthe combined rateof eightpercent(8%)perannumoratanylower ratelegallyrequiredbyaparticularjurisdiction. If thecoverletteraccompanyingtheseStandard Termsof engagement specifiesaneventoran alternatedateuponwhichpaymentisdue, interestand/orlatechargeswillbeimposedon anyunpaidfeesand/orcosts 30 daysafter die specifiedeventordateoranyotherperiod specifiedinanEngagementLetter.Thepurpose of thelatepaymentchargeistoencourage promptpayment,thusreducingourbillingand collection costs. Inaddition,ifyouraccountbecomesdelinquent andsatisfactorypaymenttermsarenotarranged, wemaypostponeordeferprovidingadditional services or withdraw,or seek to withdraw,from therepresentationconsistentwithapplicable rules.Youwillremain responsible forpayment of ourlegalfeesrenderedandchargesincurred priortosuchwithdrawal. If ourrepresentation ofyou results inamonetary recovery bylitigationorarbitrationaward, 4303319/1/MIAMI judgment,or settlement,orbyother realization of proceeds,then (when permitted by applicable law)you hereby grantusan attorneys'lienon thosefundsin die amount of anysumsdueus. Welooktoyou,theclient,forpayment regardless.of whether youare insured tocover die particular risk.From timeto time,we assist clients in pursuing third parties for recovery of attorneys'feesandothercostsarisingfromour services.These situations include payments undercontracts,statutesorinsurancepolicies. However,itremainsyourobligationtopayall amountsduetousbeforeexpiration of 30days from the date of our statement unless a different periodisestablishedinanEngagementLetter. REVENUE AND EXPENSE SHARING IN NETWORKS AND OTHER RELATIONSHIPS WITH INDEPENDENT LAW FIRMS Wehaverelationshipswithselectedother independent law firms with offices in locations outside die United States where we do not have aSquirePattonBoggsoffice.Theseincludethe SquirePattonBoggsLegalCounselWorldwide Network,anetwork of independentfirmsthat shareresourcesandworktogethertoserve clients.Unless we actually formanattorney- clientrelationshipwithaclient of sucha selectedindependent law firm,suchapartyis notourclientforanypurpose,including conflicts of interests,hi many casesweshare revenuesandexpenseswithsuchfirmsina mutualrelationshipdesignedformultiple mattersonacontinuingbasisoverasubstantial period of time.Forexample,eachmember of theSquirePattonBoggsLegalCounsel WorldwideNetworkpaysabasemembership fee,withadditionalmembershipfeespayable based on the cumulative amount of business referred to each member firm from members of thenetwork.Thesefeeandexpense arrangements are intendedtocoverexpenses of the network and encourage its use.Wewillnot increaseourfeetoyoufor die purpose of recoveringanyamountspaidto die networkor shared witii anotiier law firm.Otiier law firms with which we have relationships,whether or not part of die network,arerequiredtoobserve the same restriction. TAXES YouwillberesponsibleforanyapplicableVAT or otiier sales taxthatany jurisdiction may imposeonourfeesandotherchargesforthis representation. DATA PROTECTION AND PRIVACY Wewillcomplywithapplicabledataprotection lawsandregulationsforanypersonaldatawhich youprovidetous;andwewillassumethatyou have complied witii your .own similar' obligations.Wemayprocessyourpersonaldata toenableustoprovideyouwithlegaland relatedservices,foradministrativepurposes,and tocomply with lawsandregulations. Wemayshare die personaldatayouprovideto us witii some or all of our offices around the worldandwithotherthirdpartieswhoprovide servicestousoronourbehalf,providedthaton eachoccasionwetakestepstoensurethatthe dataisreasonablysafeguarded. CLIENT AND FIRM DOCUMENTS Wewillmaintainanydocumentsyoufurnishto us in our client files for this matter.At the conclusionofthe matter (orearlier,if appropriate),itis your obligation to advise us prornpdy asto which,if any,ofthe documents inourfilesyouwishustoturnovertoyou.At your request,yourpapersand property willbe returned toyou promptly uponreceiptof paymentfor outstanding feesandother charges. Your documentswillbeturnedovertoyouin accordancewithethicalrequirementsand subject toanylienthatmaybe created by law forpayment of anyoutstandingfeesandcosts. Wemaykeepacopyofyourfiles,madeatyour expense,ifyouaskusto return or transfer your files.We will retain our own documents and files,including ourdrafts,notes,internal memos,administrative records,timeand expense reports,billingand financial information,accountingrecords,conflictchecks, 4303319/1/MIAMI personnel materials,andwork product,suchas drafts,notes,internal memoranda,and legaland factualresearch,includinginvestigativereports, andotiier materials prepared byorfor die internaluse of ourlawyers.All such documents retainedbytheFirmwillbe transferred to die personresponsibleforadministering pur records retentionprogram.For various reasons, includingtheminimization of unnecessary storagecharges,wehavethe right todestroyor otiierwisedispose of anysuchdocumentsor othermaterialsretainedbyussevenyearsafter the termination of theengagement,unless applicablelawpermitsashorterperiodfor preservation of documentsorrequiresalonger period,orunlessadifferentperiodisspecified iii aspecialwrittenagreementsignedbybothofus. EQUALITY AND DIVERSITY WehaveawrittenEqualityandDiversitypolicy to which we seek to adhere at all times in the performance of our services.Acopywillbe providedtoyouuponyourwrittenrequestandis available on the Finn's website. DISCLOSURE OF YOUR NAME Weareproudtoserveyouaslegal counsel and hopetosharetiiat information witiiother clients and prospectiveclients.On occasion,we providenames of currentclientsin marketing materialsandonourWebsite.We mayinclude yournameonalist of representative clients.We mayalso prepare listsof representative transactionsorotiierrepresentations,excluding of courseanywebelievearesensitive.Ifyou preferthatwerefrainfromusingyournameand representation inthis manner,please advise usin writing. FIRM ATTORNEY/CLIENT PRIVILEGE If wedetermine during thecourse of the representation thatitiseither necessary or appropriate toconsult witii theFilm's Ethics Attorneys,otiier specially designated Firm attorneys oroutside counsel,wehaveyour consent todosoandthatourrepresentation of youshallnot diminish the attorney-client privilege thatSquirePattonBoggsentitieshave toprotecttheconfidentiality of our communications with such counsel. SEVERABILITY Ih theeventthatany provision ofpartof this agreement,including anyletters expressly stated tobepartof die agreement,shouldbe unenforceable underthelaw of the controlling jurisdiction,theremainder of this agreement shall remain in force and shall be enforced in accordance with its terms. PRIMACY Unless expressly superseded by explicit referencethesections"WhoisourClient," "Conflicts ofInterest,-and/or "Public Policy Practice"are fully effective notwithstanding another provision incaseofany duplication and to die fullestextentpossibleincaseof inconsistency. ENTIRE AGREEMENT This agreement supersedes all otherpriorand contemporaneous writtenandoral agreements andunderstandingsbetweenusandcontains die entire agreement between us.This agreement maybemodifiedonlybyasignedwritten agreement by you andby us.You acknowledge thatno promises have been made toyou otiier tiian thosestatedin die agreement. 4303319/1/MIAMI GOVERNING LAW Unless otherwise specified intheletter accompanying these Standard Terms,all questions arisingunderorinvolvingthis engagementorconcerningrightsandduties between,us will be governed bythe law ofthe jurisdiction inwhichthelawyersendingyouthis agreementhashisorherprincipaloffice, excluding choiceoflaw provisions thatmight selectthelaw of adifferentjurisdiction.When another jurisdiction providesthatitslawwill governnotwithstandingany agreement,that otherlawmay of coursecontrol,atleaston certain questions. IN CONCLUSION We look forward toa mutually satisfying relationship witii you.Ifyouhaveany questions about,or if youdonotagreewithoneormoreof thesetermsandconditions,pleasecommunicate witiiyourprincipalcontactattheFinnsothat wecantrytoaddressyourconcenis.Your principal contact can recommend changes that willbeeffectiveonceyoureceivewrittennotice of approval ofany revisions,which,depending onthe nature ofthe request,willbe made bya Partnerin Finn Managementand/oranEthics Partner.Thank you.