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I <br /> <br />! <br /> <br />I <br />I <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />i <br />I <br /> <br />Professional Services Agreement <br /> <br />Page 4 <br /> <br /> PART III <br />COMPENSATION, BILLING, AND PAYMENT <br /> <br />A. COMPENSATION <br /> <br />Compensation for the services set forth in Part I shall be as follows: <br /> <br />Time and materials as indicated on Exhibit 2, except for Phase I services or as otherwise ageed by <br />the Parties in writing. <br /> <br />B. BILLING AND PAYMENT <br /> <br />Timing/Format/Acceptance - Payment terms include: compensation for Phase I services due upon <br />completion of Phase I Report for each site; and all Other Services due within thirty (30) days of receipt <br />by CLIENT of invoice for same. The invoices shall consist of a summary of services provided and a <br />listing of amounts owed and reimbursable costs incurred. Unless CLIENT provides ProSource with <br />a written statement of any objections to the invoice within ten (10) days of receipt thereof, CLIENT <br />shall be deemed to accept the invoice as submitted. <br /> <br />2. Late Payments - Past due balances shall be subject to a service charge at the rate of 1-1/2% per month. <br /> <br />Delay/Adjustment - The rates set forth above shall remain firm until the end of the calendar year of <br />2001. If services continue beyond estimates established in Part IV, other compensation elements may <br />be adjusted to reflect conditions existing at the time of provision of such extended services. <br /> <br />Subcontractors - ProSource frequently utilizes other subcontractors to supply vahous types of services <br />related to survey work, property appraisals, and some eng/neering and design work. ProSource will <br />coordinate and schedule all subcontractors for project related work. <br /> <br />ProSource Technologies, Inc. <br /> <br />June 21, 2001 <br /> <br />-85- <br /> <br /> <br />