Re: Fw: Publicis/Forums
This is ridiculous!!! We don t know if the meeting will be a 1000 or 1200 attendees..we don t know if the Event will be at the NY Hilton or at the Lincoln center or at the Grand Hyatt..etc... I am not able to give a t this stage a more detailed budget...so what do we do??
Original Message
From: "Gmax"
Sent: 10/13/2004 08:24 PM
To: "Publicis Events Worldwide Attias, Richard" <
Subject: Fw: Publicis/Forums
Richard - just receiced this from Darren - I know we are going to talk later - just want you to know what I am dealing with ! -----Original Message-----
From:
Date: Wed, 13 Oct 2004 13:30:23
Subject: Publicis/Forums
I confirm that I have received a copy of the signed agreement between WJC Foundation and Publicis.
I am still awaiting receipt of original signature pages from Publicis for the Joint Venture Agreement (I have fax copies of Publicis' signature pages).
As you know, it is a requirement under the joint venture agreement that Forums and Publicis mutually agree upon a budget for the event and that any increase in expenditures by more than 10% of the budget or any increase or addition to the budget of sums payable to or for the benefit of publicis, its personnel or affiliates requires Forums approval.
Consequently the budget must be detailed enough, among other things, to include and specifically state sums payable to or for the benefit of PUblicis, its personnel or affiliates. You will recall Richard's statements to us that Publicis would make no more than 20%. This must be verifiable from the budget.
No final budget has yet been proposed by Richard only a very general estimated budget which is not particularly informative or useful for accountability purposes. You will recall that we agreed that you would not insist on full participation throughout the planning and implementation of the event, so long as there was fiscal accountability and control through the budgeting process. The joint approval of the final budget is at the core of such fiscal accountability and control.
As your attorney, I cannot permit you to fund unless and until you and Richard agree on a final budget. This should not be difficult for Richard because under Publicis' agreement with WJC Foundation, Publicis must provide WJC Foundation with a detailed budget.
Darren