3. Financial Proposal (a) What is your firm’s proposed fee for providing the Services? • Professional fees for our services are set as one third of the placement’s first-year compensation or at our minimum of $60,000, billed over the first three months of the assignment and then adjusted upward at the end if needed. • We would consider a fixed fee on a case-by-case basis. • We charge an engagement support fee calculated as 15 percent of the professional fee. This fee covers a portion of aggregated expenses that provide essential engagement support services such as system database, telecommunications, and research. On a case-by-case basis we would be willing to reduce the engagement support fee to a rate of 10 percent. This fee is billed along with the professional fee, and would be adjusted upward if the placement’s final first-year compensation is higher than estimated. • All fully reimbursable expenses are billed at cost. These expenses include: travel (consultant and candidate), advertising, bound printed materials, express mail, background checks, negative press checks. The total cost for these expenses is driven by the search process and the decisions made by the institution. (b) Describe how the University will be charged. • The professional fee is billed over the first three months of the assignment, and additional expenses are billed on a monthly basis.