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Talked to John this AM to confirm what we were splitting with him should OAS sign up with us which is hopefully looking positive.

He would like (and I think it makes sense) to split any retainer 70/30 and then wanted split of any success fees, etc to be 65/35. Probably a tiny bit more generous than I would have proposed on the success fee side but I emphasized to him and he agreed that he would have to do a good deal of the client maintenance with OAS. I also told him we'd have to cut Jay and others in Colombia in and that would be taken off the top and our splits would be on the remainder.

Bottom line - if OAS agrees to $25K/mo. for Colombia, it would be $17,500 a month for us. Success fees, equity on a $1 billion project would be all gravy.

John also said that these splits shouldn't be a precedent for any work we may do together in Africa. I would assume it would be more like 50/50 there.

Any disagreements?


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
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