FINANCIAL COMMITMENT AGREEMENT

for the joint alumni associations / school Millennium Event

held on December 11th, 1999

at the Hong Kong Convention Center, Wan Chai

 

 

All the undersigned agreed to the following:

1.      Upon the signing of this document, our alumni association is aware of and willing to take on the financial risk involved; and stay fully committed in organizing / realizing the event.

2.      All financial obligations and proceeds generated from the Event are to be shared on a pro-rata basis*, which based on the minimum number of committed tables listed on item #8, among all the undersigned parties not listed as Brotherhood/Sisterhood Schools.

3.      Any legal claims and/or liabilities issues generated from the Event are to be shared equally among all the undersigned parties.

4.      Each undersigned party is required to commit a minimum of two persons in the executive committee for the Event. The representatives from each party must attend all meetings and take part in plan execution and task delegation.

5.      Each undersigned party must provide all deposit payments on time for the Event. No deposit payment is required for associations listed as Brotherhood/Sisterhood Schools.

6.      Each undersigned party not listed as Brotherhood/Sisterhood Schools is aware of and will abide to the following deposit payment schedule for the aforesaid venue:

September 10th          HKD 1,200.00 per committed table

October 23rd             HKD 1,200.00 per committed table

November 12th           HKD 3,600.00 per committed table

December 11th           HKD 6,000.00 per committed table

 

7.      Associations who participate as a Brotherhood/Sisterhood School bare no financial risk and will have no exposure to any financial obligations and/or revenue resulted from the Event. To qualify as a Brotherhood/Sisterhood School at the event, the participating organization is required to purchase at least one table by November 12th.

8.      Minimum number of committed tables for each school:

Alumni Associations

Tables

Alumni Associations

Tables

1. California

12

6.         Pennsylvania

1

2. Chicago

2

7.         USC

5

3. INSEAD

2

8.    Stanford

1

4. Kellogg

1

 

 

5. Monash

1

 

 

Total tables committed

25

* Prorated according to (Number of tables committed) / (Total tables committed)

We agreed to all the items mentioned on the Financial Commitment Agreement for the joint alumni associations / school Millennium Event to be held on December 11th, 1999, at the Hong Kong Convention Center. We will take the risks and liabilities involved in organizing the Event.

Sponsoring Schools:

1.         California                   ____________________________

2.         Chicago                     ____________________________

3.         INSEAD                     ____________________________

4.         Kellogg                       ____________________________

5.         Monash                      ____________________________

6.         Pennsylvania             ____________________________

7.         USC                            ____________________________

8.         Stanford                     ____________________________

9.                                             ____________________________

10.                                           ____________________________

Brotherhood/Sisterhood Schools:

1.   IMD                                         ____________________________

2.      University of Toronto             ____________________________

3.      ____________________________

4.      ____________________________

5.      ____________________________