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<br />~~IIII~~, <br /> <br />CabarrusArena <br />&Events Center <br /> <br />Cabarrus Arena Food i& Beverage Incentives for FY2006 <br /> <br />The current Food and Beverage Services Agreement between SMG, Cabarrus County, and SMG <br />Food and Beverage, LLC sets an incentive schedule if SMG Food and Beverage produces a <br />profit at the Cabarrus Arena location. This schedules ties SMG Food and Beverage incentives <br />directly to profitability and is a function of Gross Revenue. <br /> <br />For the fiscal year ending JJjne 30, 2006, SMG produced a $54,016 profit from operations on <br />$476,098 in Gross Revenue at Cabarrus Arena, Applying the formula specified in the Food and <br />Beverage Services Agreem~nt results in an incentive of$23,805 to SMG Food and Beverage, <br /> <br />$476;098 <br />x 5% <br />$ 23,805 <br /> <br />Gross Food & Beverage Revenue <br />Percentage of Gross Revenue Due SMG F&B <br />Food & Beverage Incentive Due SMG F&B <br /> <br />F-g <br />