6b Exhibit C
Item Number: 6b Exhibit c 1 1/01/2011 COMPARISON OF EQUAL MONTHLY PAYMENTS T0 SEASONALLY ADJUSTED MONTHLY PAYMENTS FOR THE Date ofMeeting: MINIMUM ANNUAL GUARANTEE (MAG) EXAMPLE Company A has a new MAG of $3,600,000 based on 80% of gros revenues generated in the previous year. . Under the Current Agreement, the rental car companies pay the greater of 10% of gross revenues or the MAG with the MAG divided into 12 equal amounts. A reconciliation is completed at the end of each agreement year. Under the Proposed Amendment, the rental car companies pay the greater of 10% of gross revenues or the Seasonally Adjusted MAG with no reconciliation at the end of the agreement year; Current Agreement year runs from November 1 to October 31. NOV DEC JAN FEB MAR APR MAY JUN JUL AUG Company A Gross Revenues SEPT OCT YEAR END $2,843,731 $2,483,980 $2,511,417 $2,731,439 $3,208,690 ' $3,355,202 $3,340,131 $3,982,234 $5,158,173 $5,440,767 $4,019,113 $3,182,640 MONTHLY MAG IN CURRENT AGREEMENT = $3.6M/12 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $300,000 $3,600,000 MONTHLY MAG IN PROPOSED AGREEMENT = The 3 year average of each month's gross revenues as a % of annual gross revenues 6.63% 5,68% 5.75% 6.71% 7.50% 7.50% 7.93% 9.36% 12.05% 13.22% 954% 8.13% 100.00% . $238,680 $204,480 $207,000 $241,560 $270,000 $270,000 $285,480 $336,960 $433,800 $475,920 $343,440 $292,680 $3,600,000 PERCENTAGE FEE = 10% of GROSS REVENUES $234,373 $248,398 $251.142 $273,149 $320,869 $335,520 $334,013 $398,223 $515,818 $544,077 $401,911 $318,264 $4,225,757 MONTHLY PAYMENT 1F BASED ON GREATER OF 10% OR 1/1201 OF THE MAG $300,000 Following reconciliation _ $300,000 $300,000 $300,000 $320,809 $335,520 $334,013 $398,223 $515,818 $544,077 $401,911 $318,264 $4,363,696 RAC's owe $4,225,757 MONTHLY PAYMENT IF BASED on GREATER or 10% or GROSS REVENUES on SEASONALLY No reconciliation ADJUSTED MAG $284,373 $248,398 $251,142 $273,149 $320,869 $335,520 $334,013 $398,223 $515,313 $544,077 $401,911 $318,264 $4,225,757 RAC's owe $4,225,757
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