THE. K12 SEARCH GROUP Expanding Leadership Capacity in Public Education STANDARD TERMS AND CONDITIONS PROFESSIONAL FEES AND EXPENSES Consistent with the standards of the executive search profession, our fee is a non?contingent retainer. The K12 Search Group will conduct the CEO search at New Orleans College Prep for a ?at fee of $50,000.00. In addition to our professional fees, we are reimbursed for expenses, which include direct out?of~pocket expenses incurred on your behalf and indirect administrative expenses. Direct expenses include, but are not limited to, various support expenses (Le. search consultant and candidate travel lodging) and fees associated with posting the position on websites or in publications. You will be billed for these direct expenses as incurred on a basis. It is estimated that these expenses will range from 10?20% of the total search fee. In addition, as is standard practice in the search industry, we also bill a very small fee for indirect, administrative costs such as internet usage, subscriptions to Linked In and other recruiting databases, conference calls, phone use, etc. The fee for these costs is generally 3% of the total retainer. BILLING Our retainer will be billed based on the following search milestones: Milestone Estimated Date Percentage Dollar Amount New Orleans College Prep lWeek of May 8th 25% admin fee $12,500.00 $1500.00 signs contract Completion of stakeholder June 2 25% $12,500.00 meetings and finalizing of job description Of?cial search launch TBD 40% $20,000.00 Candidate accepts offer TBD 10% $5000.00 As part of our professional responsibilities, we will commit to the continuing the search until a quali?ed candidate is found or both parties mutually agree to end the search. Billings are due and payable upon presentation. Direct expenses are billed as they are incurred. Our fees and expenses are neither refundable nor contingent upon our success in placing a candidate with your organiZation. In the event that the ultimate placement is an intemal candidate, the search will be considered ?lled and any outstanding fees will be payable in full immediately. The only exception is if an internal candidate is identi?ed and hired prior to the of?cial search launch payment trigger. In the event this occurs, New Orleans College Prep can cancel the search without paying the 3rd and 4th payments. 1101 34th St. #154 Austin TX 78756 of?ce 512.961.8088 fax 512.961.8090 1 THE K12 SEARCH GROUP Expanding Leadership Capacity in Public Education GUARANTEE The K12 Search Group guarantees our placements for 12 months. If the individual placed by The K12 Search . Group quits or is terminated for a reason that should have reasonably been uncovered by the search ?rm in the vetting process, we will conduct the search again for no additional search fee. We will collect any outstanding fees and also bill for any direct out of pocket expenses. If the individual is terminated for any of the following reasons (death, injury, illness, facility business closure, company reorganization downsizing or purchase/ acquisition merger related), The K12 Search Group is not obligated to conduct the search again without an additional search fee. Additionally, if the placement resigns due to the discovery of information about the organization or position that was not disclosed by the client as part of the recruiting process, The K12 Search Group is not obligated to conduct the search again without an additional search fee. SECONDARY PLACEMENTS In the event that other executives are hired in connection with work performed by The K12 Search Group, a professional fee based upon 12.5% of the ?rst year?s estimated total cash compensation will be due for each executive hired. The minirnurn fee for secondary hires is $20,000.00. Secondary hires are not guaranteed; however, if the hire is terminated for cause within six months and the client wishes to conduct a search for - his her replacement, we will adjust the fee based on 25% of the actual salary (with a $40,000.00 minimum) and credit the amount already paid. CANCELLATION Either party may discontinue this assignment by written noti?cation. In the unlikely event that this occurs, you will be billed for all expenses incurred to the date of the cancellation and for professional fees as follows: Our ?rst billing is a minimum retainer and will be due in full upon initiation of the engagement (as evidenced by a signed contract). In the event of any subsequent cancellation, payment will be required for the prorated portion of the remaining professional fee, based upon the number of calendar days that have elapsed during the second and third billing periods. If a cancellation occurs after ninety days from the initiation of the engagement (as evidenced by the formal launch of the search), all professional fees have been earned. EXCLUSIVITY During the search, The K12 Search Group works exclusively, meaning that New Orleans College Prep will not engage any other retained search ?rm or organization that represents candidates in exchange for a fee and will refer any candidates who come forward to The K12'Search Group for assessment. Additionally, The K12 Search Group agrees not to take on any charter school clients conducting a CEO search in the greater New Orleans area while the New Orleans College Prep search is ongoing. LITIGATION 1101 34th St. #154 Austin TX 78756 oil-1C6 512.961.8088 fax 512.961.8090 I 2 THE K12 SEARCH GROUP Expanding Leadership Capacity in Public Education In the event of any litigation between the parties arising out of or relating to this Agreement, the prevailing party shall be entitled to recover all costs incurred and reasonable attorneys? fees, including attorneys? fees in all investigations, trials, bankruptcies, and appeals. 1101 34th St. #154 Austin TX 78756 of?ce 512.961.8088 fax 512.961.8090 THE K12 91/111101 (11110111? ExpanClinw sI'Ci11 CapaC it} in l? 'zltinn A KN LED MENT A TH RIZATI New Orleans College Prep authorizes I'he K12 Sealch (lump i11i12111le 11 search For 11 hief Executive Of?cer based 1n New Orleans, LA. Please acknowledge your acceptance of 1th lie 111111 C: unditinns of this lettcx: and attachment by signing and returning same to fax number 512 961 or 11111 email to Title: (50 (rt) HA 1 Company: k) C- Date; M94 )b 20 1101 34th St. #154 Austin 'l'X 78756 ?2.9613038 1:11 512.96l?fl9ll 211e:117chgrou.1p.cmn