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Sent By: BULLOCK SMITH & PARTNERS; 865 546 0495; 6-Mar-03 11:01AM; Page 5/7 Bullock, Smith Partners, Inc. Standard Proposal Agreement Addendum for Terms and Conditions I. Compensation A. For time and expense contracts and additional services, Bullock, Smith ~t Partners, Inc. (BS~P) shall be compensated at a multiple of two.and-f~ty hundredths (2.50) times Direct Personnel Expense. Direct Personnel Expense includes cost of salary and of mandatory and customary benefits such as statutory employee benefits, insurance, sick and personal leave, holidays, and vacations. B. For stipulated sum contracts, BSbP shall be compensated in proportion to services performed within each task or phase of service in accordance with the schedule of payments outlined in the Agreement or, if no such schedule is included, in accordance with BS~tP's normal billing practices. II. Reimburseble Expenses A. Reimbursable Expenses, including those of consultants, are in addition to the fee for services and shall be billed at a multiple of one-and-fifteen hundredths (1.15) times the actual cost to BSaP. Reimbursable expenses shall include all expenditures (other than direct personnel and normal overhead expenses) made in the interest of the Project, including transportation and living when traveling in connection with the Project; long-distance telephone calls and other communications; reproduction of drawings and specifications; materials and reproductions costs related to mechanized drafting systems; fees paid to governmental authorities in connection with the Project; materials and supplies used in connection with the Project; photography; model materials; equipment Project Number Project Name Cabarru$ Countv ,4q Fair- MP rental; and postage/delivery charges on any of the preceding. B. Consultants engaged by BSaP for project services shall be billed at a multiple of one- and-fifteen hundredths {1,15) times the amount billed to BS&P, !11. Payments A. An Initial Payment, as described, is required upon execution of the Agreement. This payment will be credited to the Client's account at final payment in accordance with the Agreement. B. Payment is due within twenty {20} days after the invoice is rendered. Payment not made within sixty (601 days from the end of the calendar month to which the invoice applies will bear interest from the end of such month at the rate of one.and.one-half percent (1-1/2%) per month until paid. The provision for payment of interest shaft not be construed as authorization to make payments late. Failure of the Client to mab,· payments when due shall be cause for suspension of services. BS[tP shell be entitled to reimbursement of costs actually incurred by it in collecting overdue accounts under this contract, including, without limitation, legal fees. C. All fees and expenses are net US dollars exclusive of transfer costs, tariffs, fees, commissions or taxes.