From: "Cohen, Seth"

From: "Cohen, Seth" To: <1 Subject: FW: AYH Budget 2007 Date: Fri, 16 Feb 2007 20:13:17 +0000 Attachments: AYH_Budget_07_12.xls Seth A. Cohen Island Capital Group LLC 717 Fifth Avenue, 18th Floor New York, NY 10022 Tel: Fax: From: Cole, Jan [maitto Sent: Friday, February 16, 2007 3:08 PM To: Cohen, Seth Subject: FW: AYH Budget 2007 From: Chris Petty [mailto:[email protected]] Sent: Friday, February 02, 2007 5:11 PM To: Kaplan, Daniel Cc: Ragsdale, Michael; Cole, Jan; Boyd, Jeff; Levy, Marc; Deher, Brian Subject: AYH Budget Hi Dan, Attached is the updated budget, the following changes were made in version 11; I. Increased GM base from 66,000 to 85,000 2. Eliminated GM and AM commission accrual $40,000 3. Added GM Bonus $10,000 4. Eliminated the assistant manager position. The position was created with the intention of training the Asst. Mgr. to be my successor as GM. 5. Eliminated 1 full time Dock hand position and added 1 part time Intern position. The following changes were made to version 12; I. Eliminated $2000 per month Admin Fee 2. Eliminated 5% NOI GP Fee 3. Increased Management Fee to 7.5% Gross Receipts 4. Adjusted insurance expense based on premium estimations provided by Nausch, Murray & Hogan. Please let me know if you have additional questions. Regards, Chris The information contained in this message and any attachment to it may be privileged, confidential or otherwise protected from disclosure. If you are not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify the sender immediately by replying to the message and EFTA01207829 please delete it from your system. Please also note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company. begin:vcard fn:Chris Petty n:Petty;Chris org:American Yacht Harbor adr;dom:;;6100 Red Hook Quarters #2 ;Saint Thomas ;USV1;00802 email;intemet:[email protected] title:General Mana>rer tel;work: tel;fax: x-mozilla-html:FALSE url:http://www.ayhmarina.biz version:2.1 end:vcard EFTA01207830