]VICG TN N. S1\n rr r- & C o .. I c.

IN VESTMENT BA NKERS • l ~jV EST M E N T BROKERS

ONE C API TAL CENTE

99 PINE STREET ALB ANY. NEW YORK 12201
1518) '' ' 9· 5 13 ' Ff. X 1518) ~~ 9 - ~ 89'-

December 17, 1992

Senator Joseph L. Bruno

RD #3, Bulson Road
Troy, New York 12180

Dear Joe:

The following will describe the relationship between yourself and the firm, as is
currently envisioned .

Title: Managing Director

Job Descri ption: 1) Assist in all areas of Investment Banking
including new business development,
transaction structuring, due diligence and
marketing.

2) Develop corporate consulting practice

and assist in execution of engagements.
Areas of emphasis 10 include marketing,
finance and corporate structure.

3) Assist in the development of money

management relationships with labor
unions. pension plans. corporate accounts.
and wealthy individuals.

4) Provide advise and counsel to senior

officers of the firm .

Compensation: Monthly draw of $2000 vs fees generated.

Asset Management:
3/4 of I % of equity assets under
management
Banking Transactions:
Transaction Initiation -
10% of Net Fee Earned
Marketing -
35o/i of Net Fee Earned
Corporate Consulting:
Same as Banking Transactions
GOVERNMENT
EXHIBIT

GA-l

O ~5 04
 ANTICIPATED RAMP UP

12mos 18mos
Asset Management:
Assets Under Management $5,000,000 $10,000,000 $20,000,000
Annual Compensation Thereon $37,500 $75,000 $150,000

Investment Banking:
Transaction Value $5,000,000 $10,000.000 $20,000,000
Fees Generated $37,500 $75,000 $150,000

Corporate Consulting:
Initiated & One-third Executed $50,000 $150,000 $150,000
Compensation Thereon $10,803 $32,410 $32,410

Total Potential Compensation $85,803 $182,410 $332,410

(annualized)

As we discussed, we would provide office space at McGinn, Smith offices to be

furnished by us or with your furniture, your choice.

Our intent would be to issue simultaneous press releases announcing the affiliation.
Appropriate tombstone ads would be placed in publications jointly selected. Further,
engraved announcements will be sent to a list jointly generated. Additionally, we would
wish to host a dinner with our larger clients welcoming you to the finn.

We look forward to the potential of OUT association and trust you share the same
enthusiasm.

Sincerely yours,

Timot . McGinn
Chairman of the Board

TIM/lljo

05!)05
MCGINN. 8!\II'T'H & CO.. INC.

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ONE CAPITAL. C E N TER

99 PIN E STR E ET

AI..8ANY. NEW Y ORK 12207

I /

. / .i { ( F[:) ,12-:··1?-··S2 #.1.)

Senator J oseph L. Bruno

RD #3, Bul son Road
Troy , t\1Y 12180

.05506

LulL ILL JIL 11111, L11,1

II II