EUGENE WEDOFF, Bankruptcy Judge
TOTAL FEES REQUESTED: $252,970.68 TOTAL COSTS REQUESTED: $3,897.47 TOTAL FEES REDUCED: $8,776 TOTAL COSTS REDUCED: $0.00 TOTAL FEES ALLOWED: $244,194.68 TOTAL COSTS ALLOWED: $3,897.47 TOTAL FEES AND COSTS ALLOWED: $248,092.15 The attached time and expense entries have been underlined to reflect disallowance in whole or in part. The basis for each disallowance is reflected by numerical notations that appears on the left of each underlined entry. The numerical notations correspond to the enumerated paragraphs below.
(4) Insufficient Description
The Court denies the allowance of compensation for the following task since the description of the time entry fails to identify in a reasonable manner the service rendered. In re Pettibone, 74 B.R. 293, 301 (Bankr. N.D. Ill. 1987) ("A proper fee application must list each activity, its date, the attorney who performed the work, a description of the nature and substance of the work performed, and the time spent on the work. [Citation omitted] Records which give no explanation of the activities performed are not compensable."); In re Wildman, 72 B.R. 700, 708-9 (Bankr. N.D. Ill. 1987) (same).
(7) Lumping
The Court may impose a ten percent penalty for "lumping." In re Wildman, 72 B.R. 700, 709 (Bankr. N.D. Ill. 1987) ("Applicants may not circumvent the minimum time requirement or any of the requirements of detail by "lumping" a bunch of activities into a single entry. [citation omitted]. Each type of service should be listed with the corresponding specific time allotment.").
(12) Clerical Work Not Compensable
The court disallows the compensation of clerical or stenographic employees of the professional for the performance of routine clerical or administrative activities in the normal course of the professional's business, such as photocopying, secretarial work, or routine filing. Such activities are not in the nature of professional services and must be absorbed by the applicant's firm as an overhead expense. In re Dimas, LLC, 357 B.R. 563, 577 (Bankr. N.D. Cal. 2006) (citing Missouri v. Jenkins, 491 U.S. 274, 288 n. 10 (1989)). See also In re Chellino, 209 B.R. 106, 114 (Bankr. C.D. Ill. 1996) (Paralegal, but not "clerk" services entitled to compensation at an hourly rate; clerk activities are overhead of the professional); Souza v. Miguel, 32 F.3d 1370, 1375 (9th Cir. 1994) (Trustee not entitled to reimbursement or compensation of overhead expenses such as secretarial, stenographic, clerical, and routine messenger services).
Dated: September 1, 2010
COVER SHEET TO FINAL FEE APPLICATION OF LEGACY ADVISORS AS FINANCIAL ADVISOR TO THE DEBTOR
Name of applicant: Legacy Advisors Authorized to provide professional services to: Champion Manufacturing Industries, Inc. Effective date of retention: June 17, 2009 Period for which compensation and reimbursement June 17, 2009 through August 5, 2010 of expenses is sought: Amount of Application Period compensation requested to be allowed as actual, reasonable, and $252,970.68 necessary: Amount of Application Period expenses requested to be allowed as actual, reasonable, and necessary: $3,897.47 Total amount of compensation and expense reimbursement requested by Legacy pursuant to $256,868.15 this Application: Total payments received by Legacy to date on account of services rendered and reimbursement of $95,474.97 expenses incurred: Total unpaid amount owing to Legacy: $161,393.18 This is a: Final Fee Application EXHIBIT A LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 1-Jul-09 Billing For: June 17, 2009 though June 30, 2009 Invoice Number 242457 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 18.0 $ 4,950.00 Brett Stacey, Associate $200.00 7.5 $ 1,500.00 Total Professionals $ 6,450.00 Expenses (Receipts Attached) Airfare $ 448.20 Hotel $ 509.08 Rental Car $ — Cab Fare $ 50.00 Total Expenses $ 1,007.28 Total Expenses $ 1,007.28 Total $ 7,457.28 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 6/17/2009 RLS Call with Client re: filing Ch 11 1.00 $ 275.00 6/19/2009 RLS Rolling Cash Flow review 2.00 $ 550.00 6/22/2009 RLS Call with Client and Counsel re: cash collateral hearing 1.00 $ 275.00 6/23/2009 RLS Cash Collaterl Hearing 8.00 $ 2,200.00 6/24/2009 RLS Cash Collaterl Hearing 5.00 $ 1,375.00 6/30/2009 RLS Call with Client re: Budget 1.00 $ 275.00 Legacy Advisors Totals, 06/17/2009 through 06/30/2009 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 18.00 $ 275.00 $ 4,950.00 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 6/18/2009 BMS Rolling Cash Flow updated 2.00 $ 400.00 6/19/2009 BMS Call with Client re: RCF budget 4.00 $ 800.00 6/20/2009 BMS Call with Client re: budget and Cash collateral order 0.50 $ 100.00 6/21/2009 BMS Call with Bank Representative re: cash collateral order 1.00 $ 200.00 Legacy Advisors Totals, 07/01/2009 through 07/31/2009 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 7.50 $ 200.00 $ 1,500.00 Exhibit
EXHIBIT B LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 12-Aug-09 Billing For: July 2009 Invoice Number 242460 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 19.5 $ 5,362.50 Brett Stacey, Associate $200.00 17.8 $ 3,560.00 Total Professionals $ 8,922.50 Expenses (Receipts Attached) Airfare 7 hrs, @ $80/hr $ 560.00 Hotel $ 322.11 Rental Car $ 117.73 Total Expenses $ 999.84 Total Expenses $ 999.84 Total $ 9,922.34 Balance Due Upon Receipt $ 9,922.34 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 7/3/2009 RLS Call with Client in regards to Vendor lawsuit 0.50 $ 137.50 7/4/2009 RLS Reviewed documentation on Vendor Lawsuit 1.00 $ 275.00 7/7/2009 RLS Call with potential lender for DIP Financing 1.50 $ 412.50 7/8/2009 RLS Call with potential lender for DIP Financing 1.00 $ 275.00 7/13/2009 RLS Call with Counsel for Client regarding Sale of Outside Real Estate Assets 0.80 $ 220.00 7/13/2009 RLS Call with Bank Representative, Client Counsel, email re: Outside RE Assets 1.00 $ 275.00 7/14/2009 RLS Call with Bank Representative/Client Counsel email re RE Assets transaction 1.00 $ 275.00 7/15/2009 RLS Call with Client Counsel revised email re: RE Assets 0.50 $ 137.50 7/20/2009 RLS Call with Bank Representatiave/Client Counsel Re: RE Assets 1.00 $ 275.00 7/23/2009 RLS Updated Advertisement Flyer 0.50 $ 137.50 7/24/2009 RLS Email to Bank Representative reg progress 0.50 $ 137.50 7/24/2009 RLS Equipment A/P, Rolling Cash Flow, Cash Collateral review 1.20 $ 330.00 7/24/2009 RLS Call with Clients Counsel regarding outside RE Assets 0.50 $ 137.50 7/25/2009 RLS Call with Clients Counsel regarding outside RE Assets 0.70 $ 192.50 7/25/2009 RLS Call with Client regarding outside RE Assets 0.50 $ 137.50 7/27/2009 RLS Meeting with potential Buyer at Plant in IL 5.00 $ 1,375.00 7/29/2009 RLS Call with Client regarding investors/Buyers target list 0.70 $ 192.50 7/30/2009 RLS Construct Buyer target list 1.60 $ 440.00 Legacy Advisors Totals, 07/01/2009 through 07/31/2009 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 19.50 $ 275.00 $ 5,362.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 7/7/2009 BMS Conf Call with Client reviewed Cash collateral order/Budget 0.50 $ 100.00 7/10/2009 BMS Reviewed loan docs for Admittance 0.25 $ 50.00 7/10/2009 BMS Set up docs for initial Cash collateral order 1st week sent to Counsel 0.50 $ 100.00 7/21/2009 BMS Worked Requested docs Regions, Updated expanded budget 2.25 $ 450.00 7/22/2009 BMS Finalized Expanded Budget 1.00 $ 200.00 7/23/2009 BMS Doc Request Bank Counsel, EBITDA analysis, Conf call with Potential Lender 3.75 $ 750.00 7/24/2009 BMS Conf Call with Client re: budget 2.30 $ 460.00 7/27/2009 BMS Conf Call with Client re: Cash Budget per review of Client Counsel 0.50 $ 100.00 7/29/2009 BMS Created Projections for Information Memorandum 1.50 $ 300.00 7/30/2009 BMS Created 6 Month Projections updated Memorandum with June Financials, Ad Sheet 4.50 $ 900.00 7/31/2009 BMS Reviewed schedules for Client Counsel, Finalized projections, mailed Advertisement 0.75 $ 150.00 Legacy Advisors Totals, 07/01/2009 through 07/31/2009 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 17.80 $ 200.00 $ 3,560.00 Exhibit
EXHIBIT C LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 1-Sep-09 Billing For: August 2009 Invoice Number 242466 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 18.4 $ 5,060.00 Brett Stacey, Associate $200.00 21.2 $ 4,240.00 Total Professionals $ 9,300.00 Expenses (Receipts Attached) Airfare Hotel Rental Car Total Expenses Total Expenses $ — Total $ 9,300.00 Amount Due for July $ 9,922.34 Balance Due Upon Receipt $ 19,222.34 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Client Date Description Time Value 8/5/2009 RLS Call with Client re; Alternative Financing 1.0 $ 275.00 8/6/2009 RLS Rolling Cash Flow 1.3 $ 357.50 8/12/2009 RLS Call with Client re: Alternative Financing 0.5 $ 137.50 8/13/2009 RLS Call with potential Buyer re; Sale 0.5 $ 137.50 8/13/2009 RLS Call with Client's Counsel re; potential buyer 1.0 $ 275.00 8/15/2009 RLS Information Memorandum writing bid procedures 2.7 $ 742.50 8/17/2009 RLS Call with Client re: strategies, options capital raising 1.7 $ 467.50 8/18/2009 RLS Call with Client re: Capital raising 0.3 $ 82.50 8/18/2009 RLS Call with potential buyer 0.8 $ 220.00 8/19/2009 RLS CMI Information Memorandum Underwriting Adjustments 2.4 $ 660.00 8/20/2009 RLS Call with potential buyers 0.6 $ 165.00 8/21/2009 RLS Call with Counsel re: potential buyers 0.3 $ 82.50 8/21/2009 RLS Call with Client's Counsel re; potential buyer 0.6 $ 165.00 8/21/2009 RLS Call with potential buyers 0.5 $ 137.50 8/21/2009 RLS Call with Client re: strategy 1.3 $ 357.50 8/24/2009 RLS Call with potential Buyer 0.6 $ 165.00 8/24/2009 RLS Call with Client re: targeted buyer list 0.5 $ 137.50 8/24/2009 RLS Call with client re: potential buyer 0.5 $ 137.50 8/24/2009 RLS Call with Client counsel re: Union issues 0.3 $ 82.50 8/28/2009 RLS Call with potential buyer re; financing out of 11 0.7 $ 192.50 8/31/2009 RLS Call with Client counsel re: Union issues 0.3 $ 82.50 Legacy Advisors Totals, 08/01/2009 through 08/31/2009 Consultant Summary Consultant Init Hours Rate Value Ron Stacey RLS 18.40 $ $ 275.00 $ 5,060.00 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Client Date Description Time Value 8/3/2009 BMS Updated and reviewed 6 Month Financial projections with Client 2.00 $ 400.00 8/4/2009 BMS wrote, sent and received Confidentially Agreement per Potential Buyer 0.50 $ 100.00 8/5/2009 BMS Worked on Draft Copy of 5 year projections 1.50 $ 300.00 8/6/2009 BMS Conf Call with Client revised Advertizing Flyer per recommendations 2.00 $ 400.00 8/10/2009 BMS Finished re drafted Projections, Incorporated projections into Information Memorandum 2.00 $ 400.00 8/10/2009 BMS reviewed MOF per request of Client's counsel, updated Information Memorandum 3.50 $ 700.00 8/11/2009 BMS wrote Confidentially Agreement for Potential Buyer, created Proforma Statements 3.00 $ 600.00 8/17/2009 BMS Wrote Confidentially Agreement for Potential Buyer 0.50 $ 100.00 8/18/2009 BMS Updated Information Memorandum July numbers., Transaction worksheet 2.50 $ 500.00 8/19/2009 BMS Created Housing Chart for Information Memorandum 0.50 $ 100.00 8/20/2009 BMS Updated Appendences and sent to 4 potential Buyers, CA's signed PDF 1.50 $ 300.00 8/24/2009 BMS CA from Potential Buyer, Sent Package 0.75 $ 150.00 8/31/2009 BMS Call with Potential Buyer, Updated buyer list per Client's request 1.00 $ 200.00 Legacy Advisors Totals, 08/01/2009 through 08/31/2009 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 21.25 $ 200.00 $ 4,250.00 EXHIBIT D LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 1-Oct-09 Billing For: September 2009 Invoice Number 242488 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 13.1 $ 3,602.50 Brett Stacey, Associate $200.00 17.1 $ 3,410.00 Total Professionals $ 7,012.50 Expenses (Receipts Attached) Airfare 0 hrs, @ $80/hr $ — Hotel $ — Rental Car $ — Total Expenses $ — Total Expenses $ — Total $ 7,012.50 Balance Due Upon Receipt $ 7,012.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc.
September 09 Date Description Time Value 9/9/2009 Call with client bank 0.30 $ 82.50 9/9/2009 Client Call re: investor status, financing plans 0.70 $ 192.50 9/11/2009 investor Conference Call re: stalking horse bic 0.40 $ 110.00 9/14/2009 Follow up calls on the investor list 1.80 $ 495.00 9/14/2009 Call with potential investor call re: interim lender investment Spiege 0.50 $ 137.50 9/14/2009 Consult with lawyers on Lax Cape House Proceeds Disposition 0.30 $ 82.50 9/15/2009 Call with Client re: Cape House, 0.70 $ 192.50 9/16/2009 Call with Client re: investor review 0.50 $ 137.50 9/16/2009 Call with Client counsel re: jr secured position for Cape House Proceed: 0.40 $ 110.00 9/16/2009 Call with Client re: investment, newco 0.70 $ 192.50 9/17/2009 Exit Financing Underwriting, Exec Summary 3.00 $ 825.00 9/21/2009 Call with potential investor re: union issues, stalking horse bid, asset value: 0.50 $ 137.50 9/21/2009 Call with Client Bank re: exit financing 0.30 $ 82.50 9/21/2009 Call with potential investor re: union issues, timing 0.30 $ 82.50 9/22/2009 Call with Client re: review investors, discussed financing 0.80 $ 220.00 9/23/2009 Call with local banker re: exit financing 0.40 $ 110.00 9/24/2009 Call with potential investor re: investment 0.50 $ 137.50 9/24/2009 Call with potential investor re: merger possibilities 0.50 $ 137.50 9/25/2009 Call with Client re: scheduled visits, investor strategies 0.50 $ 137.50 Legacy Advisors Totals, 09/01/2009 through 09/30/2009 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 13.10 $ 275.00 $ 3,602.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc.
September 09 Date Description Time Value 9/4/2009 BMS Call with potential investor 0.50 $ 100.00 9/8/2009 BMS Call with potential investor and Client re: sale and general questions 2.00 $ 400.00 9/9/2009 BMS Call with Client re: weekly reporting requirements 0.75 $ 150.00 9/9/2009 BMS E-mailed weekly reporting requirements to Bank 0.50 $ 100.00 9/10/2009 BMS Call with potential investor 0.15 $ 30.00 9/10/2009 BMS Prepared Bank Financial Reporting spreadsheet 2.25 $ 450.00 9/11/2009 BMS Prepared weekly Financial Reporting Sent to Bank 1.25 $ 250.00 9/14/2009 BMS Sent CA to potential investor, updated weekly reporting 0.25 $ 50.00 9/15/2009 BMS Sent weekly Financial Reporting to Bank 0.75 $ 150.00 9/17/2009 BMS Updated Financial Spreadsheets for Financing Memorandum 1.00 $ 200.00 9/18/2009 BMS Prepared and Sent CA for Potential investor 0.15 $ 30.00 9/18/2009 BMS Prepared Transaction Worksheet for purchase bid 1.00 $ 200.00 9/18/2009 BMS Review/discuss client prepared monthly, 5yr and YE Projections for Finance Underwriting 4.00 $ 800.00 9/21/2009 BMS E-mailed weekly reporting requirements to Bank 0.50 $ 100.00 9/23/2009 BMS E-mailed Updated Budget 1.00 $ 200.00 9/23/2009 BMS Updated Transaction Worksheet for purchase bid 1.00 $ 200.00 Legacy Advisors Totals, 09/01/2009 through 09/30/2009 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 17.05 $ 200.00 $ 3,410.00 EXHIBIT E LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 1-Nov-09 Billing For: October 2009 Invoice Number 242491 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 27.7 $ 7,617.50 Brett Stacey, Associate $200.00 24.8 $ 4,950.00 Total Professionals $ 12,567.50 Expenses (Receipts Attached) Airfare 3.5 hrs, @ $80/hr $ 280.00 Airfare Chicago Trip 10/07 $ 657.20 Hotel $ 385.22 Rental Car $ 56.63 Total Expenses $ 1,379.05 Total Expenses $ 1,379.05 Total $ 13,946.55 Amount Due for September $ 7,012.50 Balance Due Upon Receipt $ 20,959.05 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc.
October 09 Date Description Time Value 10/1/2009 Meeting with client re: investor visit at the plant 3.20 $ 880.00 10/2/2009 Meeting with client re: investor visit at the plant 2.50 $ 687.50 10/7/2009 Presentation Preparation re: Investor Meeting Chicago 1.50 $ 412.50 10/8/2009 Investor presentation Chicago at Client Counsel 3.00 $ 825.00 10/13/2009 Call with accountant re: September results, overhead applied 0.50 $ 137.50 10/13/2009 Client call re: September results, accounting issues 0.60 $ 165.00 10/14/2009 Client/Controller call re: financials, costing, pricing, rolling cash flow 1.30 $ 357.50 10/15/2009 Rework investor presentation, revised debt underwriting 2.00 $ 550.00 10/16/2009 Investor call re: answer questions, provide additional information 0.80 $ 220.00 10/19/2009 investor call re: cost issues, union contract, equity split 0.50 $ 137.50 10/20/2009 Bank call re: exit financing 0.80 $ 220.00 10/21/2009 Restructure, rewrite financing package for alternative plans 3.20 $ 880.00 10/22/2009 Client call re: restructure for stand alone 1.00 $ 275.00 10/23/2009 Rewrite executive summary, recalculate transaction structure, no additional equity 2.30 $ 632.50 10/26/2009 Client call re: investor proposal, alternative options 1.00 $ 275.00 10/26/2009 Call with investors investment banker re: investor proposal 0.70 $ 192.50 10/27/2009 Client call re: results of discussion with investment banker 0.80 $ 220.00 10/28/2009 Prospecting calls to financing sources re: feasibility of SBA financing 2.00 $ 550.00 Legacy Advisors Totals, 10/01/2009 through 10/31/2009 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 27.70 $ 275.00 $ 7,617.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc.
October 09 Date Description Time Value 10/1/2009 BMS Updated and sent Weekly Operating Report to Bank 0.75 $ 150.00 10/5/2009 BMS prepared PowerPoint presentation for potential investor 4.25 $ 850.00 10/6/2009 BMS updated PowerPoint presentation for potential investor re: client comments 4.50 $ 900.00 10/7/2009 BMS updated PowerPoint presentation for potential investor re: additional client comments 2.50 $ 500.00 10/8/2009 BMS Call with potential investor, client re: presentation 0.75 $ 150.00 10/8/2009 BMS Prepared weekly Financial Reporting Sent to Bank 0.50 $ 100.00 10/12/2009 BMS Received and sent client approved projections for potential investor 4.25 $ 850.00 10/15/2009 BMS Prepared weekly Financial Reporting Sent to Bank 0.50 $ 100.00 10/19/2009 BMS Presented financing option to potential lender 0.50 $ 100.00 10/21/2009 BMS Prepared weekly reporting Sent to Bank 0.50 $ 100.00 10/22/2009 BMS Prepared RCF updated to Dec 25 1.00 $ 200.00 10/26/2009 BMS Reviewed and revised RCF dated to DEC 25 0.75 $ 150.00 10/29/2009 BMS Prepared Quantitative Analysis for Financial Memorandum for Financing 3.50 $ 700.00 10/30/2009 BMS Prepared weekly Financial Reporting Sent to Bank 0.50 $ 100.00 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 10/01/2009 through 10/31/2009 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 24.75 $ 200.00 $ 4,950.00 Exhibit Ronald Stacey Room Folio Checkln CheckOut Balance 3748 Legacy Dr Ste 106-398 732 184132 09/30/2009 10/02/2009 0.00 Plano, TX 75023 Master Folio Date Room Description/Voucher Charges Credits Balance 09/30/2009 732 Room Taxable 119.00 0.00 119.00 09/30/2009 732 Room Tax — 13.000% 15.47 0.00 134.47 10/01/2009 732 Room Taxable 119.00 0.00 253.47 10/01/2009 732 Room Tax — 13.000% 15.47 0.00 268.94 10/02/2009 732 Visa/Mastercard — . . . 3346 AP: 05363Z 0.00 268.94 0.00 Balance Due 0.00 Summary and Taxes Taxable Sales 238.00 Room Tax 13.00% 30.94 EXHIBIT F LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 1-Dec-09 Billing For: November 2009 Invoice Number 242469 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 27.4 $ 7,535.00 Brett Stacey, Associate $200.00 25.8 $ 5,160.00 Total Professionals $ 12,695.00 Expenses (Receipts Attached) Airfare 7 hrs, @ $80/hr $ — Hotel $ — Rental Car $ — Total Expenses $ — Total Expenses $ — Total $ 12,695.00 Balance Due Upon Receipt $ 12,695.00 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 11/3/2009 RLS Review of equipment appraisal from client Bank, comparison to client appraisal 1.00 $ 275.00 11/4/2009 RLS Feasibility testing within the existing model of various exit financing structures 2.00 $ 550.00 11/5/2009 RLS Client Call: re: projections refinance, labor issues 0.80 $ 220.00 11/6/2009 RLS Client Call: re: projections refinance 0.50 $ 137.50 11/6/2009 RLS Underwriting new proposed financing 1.50 $ 412.50 11/6/2009 RLS Client conference call to resolve labor productivity, cost issues, coverage's for new financing 1.70 $ 467.50 11/9/2009 RLS Model building, refinance structuring 3.00 $ 825.00 11/10/2009 RLS Go To Meeting Client conference call to review and approve financial model 1.00 $ 275.00 11/11/2009 RLS Client call, financing memorandum 0.50 $ 137.50 11/13/2009 RLS Underwriting new proposed financing 1.50 $ 412.50 11/13/2009 RLS Client call re: financing memorandum 1.50 $ 412.50 11/14/2009 RLS Underwriting Financing Memorandum 4.30 $ 1,182.50 11/16/2009 RLS Rewrite based on client comment 2.00 $ 550.00 11/19/2009 RLS Bank call re SBA financing issues 1.00 $ 275.00 11/20/2009 RLS Client Call re: revisiting investor option 0.50 $ 137.50 11/24/2009 RLS Draft Term Sheet counter proposal for investor, model for feasibility 2.50 $ 687.50 11/25/2009 RLS Client Call re: counter proposal 0.80 $ 220.00 11/26/2009 RLS Draft email, send package to alternative investor 0.80 $ 220.00 11/28/2009 RLS Draft email, send package to alternative investor 0.50 $ 137.50 Legacy Advisors Totals, 11/01/2009 through 11/30/2009 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 27.40 $ 275.00 $ 7,535.00 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 11/2/2009 BMS Call with client re: offer letter 0.50 $ 100.00 11/3/2009 BMS Prepared weekly Financial Reporting Sent to Bank 0.50 $ 100.00 11/4/2009 BMS Financial Modeling forecasts 2.50 $ 500.00 11/5/2009 BMS Call with client re: Forecasts 1.50 $ 300.00 11/6/2009 BMS Modeling customer prepared financial forecast for DSC 3.00 $ 600.00 11/9/2009 BMS Spread customer prepared financial projections 4.00 $ 800.00 11/10/2009 BMS Reviewed company prepared projections, updated financial model 2.00 $ 400.00 11/11/2009 BMS Prepared Financial Memorandum 2.00 $ 400.00 11/16/2009 BMS Finalized and send Financial Memorandum 3.00 $ 600.00 11/17/2009 BMS Sent Financial Memorandum to prospective lenders 0.50 $ 100.00 11/18/2009 BMS Modified Financial Memorandum and sent to prospective lenders 0.50 $ 100.00 11/19/2009 BMS Modified Financial Memorandum and sent to prospective lenders 2.00 $ 400.00 11/19/2009 BMS Prepared and sent weekly reporting to Bank 0.50 $ 100.00 11/23/2009 BMS Modified Champion RCF Model per customer prepared budget 2.65 $ 530.00 11/23/2009 BMS Call with client re: RCF Model 0.50 $ 100.00 11/30/2009 BMS Call with Client re: potential investors 0.15 $ 30.00 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 11/01/2009 through 11/30/2009 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 25.80 $ 200.00 $ 5,160.00 EXHIBIT G LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 4-Jan-10 Billing For: December 2009 Invoice Number 242470 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 23.9 $ 6,572.50 Brett Stacey, Associate $200.00 13.1 $ 2,620.00 Total Professionals $ 9,192.50 Expenses (Receipts Attached) Airfare 0 hrs, @ $80/hr $ — Hotel $ — Rental Car $ — Total Expenses $ — Total Expenses $ — Total $ 9,192.50 Balance Due November $ 12,695.00 Balance Due Upon Receipt $ 21,887.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 12/2/2009 RLS Call from potential lender re: additional Information 1.20 $ 330.00 12/2/2009 RLS Call from potential investor re: clarification on structure of offe 0.30 $ 82.50 12/3/2009 RLS Client call re: investors, offer, update, schedule conference calls 0.70 $ 192.50 12/4/2009 RLS Conference Call with investor/investment banker and follow up calls 2.50 $ 687.50 12/7/2009 RLS Client call re: investor proposals, update 1.00 $ 275.00 12/8/2009 RLS Client call re: investor proposals, update 1.00 $ 275.00 12/8/2009 RLS Client call re: investor proposals, update 0.50 $ 137.50 12/9/2009 RLS Lender calls, restructure, new proposal for investor 2.00 $ 550.00 12/10/2009 RLS Rewrite investor proposal re: client input 0.50 $ 137.50 12/11/2009 RLS Draft Alternate Investor proposal 0.50 $ 137.50 12/14/2009 RLS Alternate Investor proposal 0.70 $ 192.50 12/15/2009 RLS Client Call re: investors 0.50 $ 137.50 12/16/2009 RLS Client Call re: investors 0.50 $ 137.50 12/17/2009 RLS Client Call re: investors 0.50 $ 137.50 12/17/2009 RLS Restructure, remodel, review with client 2.00 $ 550.00 12/17/2009 RLS Client call re: investor options 0.50 $ 137.50 12/19/2009 RLS Review investor proposal, draft and send email to Client regarding same 1.50 $ 412.50 12/22/2009 RLS Conference call with Client counsel client re: exit strateg 0.30 $ 82.50 12/22/2009 RLS Revise and rewrite client Bank refinance and exit proposa 3.00 $ 825.00 12/23/2009 RLS Client call re: bank refinance 0.50 $ 137.50 12/23/2009 RLS Revise and rewrite client Bank refinance and exit proposa 2.20 $ 605.00 12/24/2009 RLS Call with Client counsel re: Bank refinance exit proposa 0.50 $ 137.50 12/26/2009 RLS Draft and send email to client Bank 0.50 $ 137.50 12/28/2009 RLS Review Discuss email for potential investor 0.50 $ 137.50 $ — $ — $ — $ — $ — Legacy Advisors Totals, 12/01/2009 through 12/31/2009 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 23.90 $ 275.00 $ 6,572.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 12/1/2009 BMS Call with client re: conf call with potential Lender 0.50 $ 100.00 12/1/2009 BMS Call with client re: conf call with potential investor 0.25 $ 50.00 12/1/2009 BMS Call with client re: conf call with potential investor 0.25 $ 50.00 12/2/2009 BMS Call with client re: conf call investor 0.50 $ 100.00 12/3/2009 BMS Call with client and investor re: exit strategy 2.50 $ 500.00 12/4/2009 BMS Call with client and investor re: exit strategy 2.00 $ 400.00 12/4/2009 BMS Call with client re: client call with investor 0.25 $ 50.00 12/4/2009 BMS Sent operating cash flow to bank 0.50 $ 100.00 12/8/2009 BMS Call with Lender re: questions regarding the credit/structure 0.25 $ 50.00 12/14/2009 BMS Sent operating cash flow to bank 0.50 $ 100.00 12/16/2009 BMS Call with client re: bank transaction model 0.15 $ 30.00 12/16/2009 BMS Call with client re: bank transaction model 0.15 $ 30.00 12/18/2009 BMS Write up draft bank proposal 1.50 $ 300.00 12/21/2009 BMS Call with client and counsel re: bank transaction proposal 0.15 $ 30.00 12/22/2009 BMS Rolling Cash Flow model February 0.75 $ 150.00 12/22/2009 BMS Conf call re: bank model 0.50 $ 100.00 12/22/2009 BMS Sent operating cash flow to bank 1.00 $ 200.00 12/23/2009 BMS Write up draft bank proposal 1.00 $ 200.00 12/24/2009 BMS Call with client counsel 0.25 $ 50.00 12/24/2009 BMS Write up draft bank proposal 0.15 $ 30.00 $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 12/01/2009 through 12/31/2009 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 13.10 $ 200.00 $ 2,620.00 EXHIBIT H LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 1-Feb-10 Billing For: January 2010 Invoice Number 242471 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 14.3 $ 3,932.50 Brett Stacey, Associate $200.00 7.3 $ 1,460.00 Total Professionals $ 5,392.50 Expenses (Receipts Attached) Airfare $ 405.90 Hotel $ — Rental Car $ 105.40 Total Expenses $ 511.30 Total Expenses $ 511.30 Total $ 5,903.80 Balance Due Upon Receipt $ 5,903.80 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 1/13/2010 Call with Client Re: Bank Presentation Proposed Exit Plar 3.50 $ 962.50 1/14/2010 Call with Client and Counsel Re: Bank Presentation Proposed Exit Plar 3.00 $ 825.00 1/14/2010 Client Call re: Bank Proposal, ownership structures 0.30 $ 82.50 1/14/2010 Call with major unsecured creditor re: bank Presentation 0.50 $ 137.50 1/15/2010 Call with Client's outside CPA re: exit plan 0.50 $ 137.50 1/18/2010 Call with Client re: Bank Presentation Proposed Exit Plar 1.30 $ 357.50 1/20/2010 Onsite meeting with Client Bank and counsel re: Bank exit plan 3.00 $ 825.00 1/25/2010 Reviewed and sent Cash flow, P L schedules for Client Bank 1.20 $ 330.00 1/28/2010 Client Call re: Bank Proposal, ownership structures 1.00 $ 275.00 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 1/01/2010 through 1/31/2010 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 14.30 $ 275.00 $ 3,932.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 1/5/2009 BMS Reviewed and sent required weekly rolling cash flow report 0.50 $ 100.00 1/5/2009 BMS Call with client bank re: emailed A/P, A/R 0.15 $ 30.00 1/14/2009 BMS Reviewedand updated Jan 20th Bank Plan Presentation 1.00 $ 200.00 1/15/2009 BMS Made changes and updated Jan 20th Bank Plan Presentation 0.70 $ 140.00 1/16/2009 BMS Made changes and updated Jan 20th Bank Plan Presentation 2.25 $ 450.00 1/18/2009 BMS Reviewed and sent required weekly rolling cash flow report 0.70 $ 140.00 1/25/2009 BMS Reviewed and sent required weekly rolling cash flow report 0.50 $ 100.00 1/25/2009 BMS Updated and reviewed Rolling Cash flow Budget report re: though March 5th 1.20 $ 240.00 1/26/2009 BMS Call with Client re: changes made to Rolling Cash Flow budget report re: March 5th 0.30 $ 60.00 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 01/01/2010 through 01/31/2010 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 7.30 $ 200.00 $ 1,460.00 Exhibit
EXHIBIT I LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Piano, TX 75023 214 705 1112 FAX 214 705 6278 1-Mar-10 Billing For: Febuary 2010 Invoice Number 242472 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 12.7 $ 3,492.50 Brett Stacey, Associate $200.00 8.2 $ 1,640.00 Total Professionals $ 5,132.50 Expenses (Receipts Attached) Airfare 0 hrs, @ $80/hr $ — Hotel $ — Rental Car $ — Total Expenses $ — Total Expenses $ — Total $ 5,132.50 Balance Due January $ 5,903.80 Balance Due Upon Receipt $ 11,036.30 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 2/1/2010 Call with major unsecured creditor re: exit plan 0.50 $ 137.50 2/2/2010 Call with major unsecured creditor re: exit plan presentation 2.50 $ 687.50 2/3/2010 Call to unsecured creditor re: email follow-up 1.00 $ 275.00 2/4/2010 Call with major unsecured creditor re: exit plan 0.50 $ 137.50 2/11/2010 Prepare bullet point of proposed exit plan for unsecured creditor's lawyer: 1.50 $ 412.50 2/12/2010 Call with client's lawyer re: alternatives to proposed plan 0.80 $ 220.00 2/13/2010 Model alternative exit plan, re: liquidate ins, surrender real estate, short pay banl 2.50 $ 687.50 2/15/2010 Research and email escrow payments, call with client's lawyer 1.20 $ 330.00 2/18/2010 Call with major unsecured creditor re: exit plan update 0.50 $ 137.50 2/23/2010 Prepare email for, explanatory call with major unsecured creditor's lawyer 1.20 $ 330.00 2/24/2010 Call with unsecured creditor re: exit plan update 0.50 $ 137.50 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 2/01/2010 through 2/28/2010 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 12.70 $ 275.00 $ 3,492.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 2/1/2009 Call with client's bank Re: current financials A/R 0.15 $ 30.00 2/2/2009 Call with client's bank Re: current financials 0.15 $ 30.00 2/2/2009 Call with Client's bank re: Sent requested docs 0.50 $ 100.00 2/3/2009 Call with Client's bank re: Sent requested docs 0.50 $ 100.00 2/3/2010 Call with client's bank Re: current projections 0.50 $ 100.00 2/3/2010 Conference call with Client's vendor re: pending exit 1.30 $ 260.00 2/9/2010 Call with Client Counsel re: timing of Plan 0.25 $ 50.00 2/9/2010 Call with Client Counsel Re: additional questions 0.15 $ 30.00 2/9/2010 Reviewed and sent weekly rolling Cash Flow 0.75 $ 150.00 2/9/2010 Call with Client re: extension of plan proposal 0.40 $ 80.00 2/16/2010 Revised Rolling Cash Flow model though April 2nd, initial Draft 1.20 $ 240.00 2/16/2010 Reviewed and sent weekly rolling Cash Flow 0.50 $ 100.00 2/22/2010 Reviewed and sent weekly rolling Cash Flow 0.50 $ 100.00 2/23/2010 Reviewed and sent client prepared budget re: changes 1.00 $ 200.00 2/23/2010 Call with client counsel re: budget 0.20 $ 40.00 2/24/2010 Call with Client re: budget 0.15 $ 30.00 $ — Legacy Advisors Totals, 2/01/2010 through 02/28/2010 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 8.20 $ 200.00 $ 1,640.00 EXHIBIT J LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 April 1 2010 Billing for March 2010 Invoice Number 242472 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 9.7 $ 2,667.50 Brett Stacey, Associate $200.00 18.1 $ 3,620.00 Total Professionals $ 6,287.50 Expenses (Receipts Attached) Airfare 0 hrs, @ $80/hr $ — Hotel $ — Rental Car $ — Total Expenses $ — Total Expenses $ — Total $ 6,287.50 Balance Due Upon Receipt $ 6,287.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 3/1/2010 Client call re: new plan ownership issues 1.00 $ 275.00 3/2/2010 Client call re: financing alternatives 0.30 $ 82.50 3/3/2010 Client call re: financing alternatives 0.30 $ 82.50 3/9/2010 Update call with major unsecured creditors lawyer 0.50 $ 137.50 3/11/2010 Client call re: major unserucred creditor settlement strategy 0.80 $ 220.00 3/15/2010 Email and follow up call with primary bank lender 0.50 $ 137.50 3/17/2010 Conference call with client bank re: exit proposa 0.70 $ 192.50 3/17/2010 Email sumarizing call results with bank to client 0.50 $ 137.50 3/17/2010 Client call re: restructuring plan 0.50 $ 137.50 3/18/2010 Call with client bank re: life insurance 0.30 $ 82.50 3/19/2010 Review new RCF, Transaction Model based on Bank Proposa 1.00 $ 275.00 3/26/2010 Client call re: ownership restructure newcc 1.00 $ 275.00 3/29/2010 Review, rewrite, remodel financing package base on new Bank Proposa 2.00 $ 550.00 3/30/2010 Call with client lawyers re: cash collateral extension, budget, bank proposa 0.30 $ 82.50 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 03/01/2009 through 03/31/2009 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 9.70 $ 275.00 $ 2,667.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 3/1/2009 BMS Call with Client's Bank re: updated client prepared projections / actuals 2010 2.50 $ 500.00 3/4/2010 BMS Reviewed and sent Cash Flow model to Bank 0.70 $ 140.00 3/11/2010 BMS Reviewed and sent Cash Flow model to Bank 0.50 $ 100.00 3/15/2010 BMS Reviewed and sent Cash Flow model to Bank 0.70 $ 140.00 3/16/2010 BMS Call with Client lender regarding exit financning 0.70 $ 140.00 3/17/2010 BMS Revied and updated Financning Memorandum Bank approval 0.50 $ 100.00 3/18/2010 BMS Revied and updated Financning Memorandum Bank approval 2.70 $ 540.00 3/19/2010 BMS Revied and updated Financning Memorandum Bank approval 1.60 $ 320.00 3/26/2010 BMS Reviewed and sent Cash Flow model to Bank 0.70 $ 140.00 3/26/2010 BMS Revied and updated Financning Memorandum Bank approval 0.30 $ 60.00 3/29/2010 BMS Reviewed and sent Cash Flow model to Bank 0.50 $ 100.00 3/29/2010 BMS Revied and updated Financning Memorandum Bank approval 0.50 $ 100.00 3/29/2010 BMS Reviewed and Updated Cash Flow budget though April 30 1.20 $ 240.00 3/30/2010 BMS Reviewed and made changes to Cash Flow Budget April 30 Per client sent to counsel 0.70 $ 140.00 3/30/2010 BMS Reviewed and Updated Client prepared Proforma Projections for Memorandum 1.10 $ 220.00 3/31/2010 BMS Reviewed and Updated Underwriting Memorandum for Bank approved Proposal 3.20 $ 640.00 $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 03/01/2010 through 03/31/2010 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 18.10 $ 200.00 $ 3,620.00 EXHIBIT K LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 1-May-10 Billing For: April 2010 Invoice Number 242474 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 13.0 $ 3,575.00 Brett Stacey, Associate $200.00 25.3 $ 5,060.00 Total Professionals $ 8,635.00 Expenses (Receipts Attached) Airfare 0 hrs, @ $80/hr, $ — Hotel $ — Rental Car $ — Total Expenses $ — Total Expenses $ — Total $ 8,635.00 $ 6,287.50 Balance due March Balance Due Upon Receipt $ 14,922.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 4/01/2010 RLS Client Call re: bank follow up 0.30 $ 82.50 4/2/2010 RLS Client Call re: major unsecured creditor 0.30 $ 82.50 4/2/2010 RLS First Review Bank Counter Proposal 0.50 $ 137.50 4/5/2010 RLS Client Call restructuring plan, new ownership issues 1.30 $ 357.50 4/6/2010 RLS Client Bank Call re: counter proposal 0.30 $ 82.50 4/6/2010 RLS Client Call re: major unsecured creditor 0.30 $ 82.50 4/7/2010 RLS Call with major unsecured creditor 0.30 $ 82.50 4/13/2010 RLS Call with potential Lender re: presentatior 1.20 $ 330.00 4/14/2010 RLS Client Call re: new financing, plan 0.50 $ 137.50 4/15/2010 RLS Call with client BK counsel 0.30 $ 82.50 4/16/2010 RLS Client Call re: major unsecured creditor, restructuring plar 0.50 $ 137.50 4/19/2010 RLS Major unsecured email 0.30 $ 82.50 4/19/2010 RLS Response to bank counter proposal 1.50 $ 412.50 4/20/2010 RLS Review new lender term sheets 1.50 $ 412.50 4/23/2010 RLS Review guarantee, research accounts payable client cal 0.50 $ 137.50 4/26/2010 RLS Client call re: major unsecured creditor 0.80 $ 220.00 4/27/2010 RLS Email reply and discuss term sheets with new lenders 1.00 $ 275.00 4/29/2010 RLS Client call re: plan filing 0.50 $ 137.50 4/30/2010 RLS Review sources/uses in plan documents 0.30 $ 82.50 4/30/2010 RLS Conference Call with client BK counsel re: plan filing 0.80 $ 220.00 $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 4/01/2009 through 4/30/2009 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 13.00 $ 275.00 $ 3,575.00 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 4/2/2010 BMS Reviewed Bank approved proposal, Updated Memorandum 1.50 $ 300.00 4/6/2010 BMS Updated Co prepared ppt ABL lending presentation 3.20 $ 640.00 4/7/2010 BMS Call with Potential lender re; exit financing 2.10 $ 420.00 4/7/2010 BMS Updated Co prepared ppt ABL lending presentation, sent financials to potential lender 3.20 $ 640.00 4/8/2010 BMS Call with client re: pre filled application 0.20 $ 40.00 4/9/2010 BMS Reviewed and sent RCF statement to bank 0.50 $ 100.00 4/9/2010 BMS Call with potential lender re: LOC for exit financing 0.50 $ 100.00 4/9/2010 BMS Call with Client re: application/customer list 0.40 $ 80.00 4/13/2010 BMS Call with potential lender re: application 0.50 $ 100.00 04/13/210 BMS Call with potential lender re: loan structure 0.50 $ 100.00 4/13/2010 BMS Reviewed and sent application 0.50 $ 100.00 4/13/210 BMS Call with Client Counsel re: Plan Filing 0.50 $ 100.00 4/14/2010 BMS Call with potential lender re: loan structure exit financing 1.30 $ 260.00 4/15/2010 BMS Call with Potential lender re: term proposal 0.50 $ 100.00 4/16/2010 BMS Call with Client counsel re: Exhibits plan filing 1.20 $ 240.00 4/19/2010 BMS Call with Client re: Settlement with Creditors 0.40 $ 80.00 4/20/2010 BMS Received and sent RCF Statement to Bank 0.50 $ 100.00 4/20/2010 BMS Reviewed and sent Draft Cash collateral order 1.40 $ 280.00 4/20/2010 BMS Call with potential lender Re: conf call with Champion President 0.20 $ 40.00 4/20/2010 BMS Reviewed and Prepared Plan Exhibits 4.20 $ 840.00 4/21/2010 BMS Call with client re: current projections 0.20 $ 40.00 4/21/2010 BMS Call with Potential lenders Re: Exit financing 0.50 $ 100.00 4/21/2010 BMS Reviewed and sent RCF statement to bank 0.50 $ 100.00 4/30/2010 BMS Call with Client Counsel re: plan filling 0.80 $ 160.00 $ — Legacy Advisors Totals, 4/01/2010 through 04/30/2010 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 25.30 $ 200.00 $ 5,060.00 EXHIBIT L LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 1-Jun-10 Billing For: May 2010 Invoice Number 242476 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 7.6 $ 2,090.00 Brett Stacey, Associate $200.00 18.6 $ 3,720.00 Total Professionals $ 5,810.00 Expenses (Receipts Attached) Airfare 0 hrs, @ $80/hr $ — Hotel $ — Rental Car $ — Total Expenses $ — Total Expenses $ — Total $ 5,810.00 Balance Due Upon Receipt $ 5,810.00 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 5/03/20103 RLS Review plan of reqorgainzation and disclosure statement 1.50 $ 412.50 5/18/2010 RLS Update plan to acutal, email to major bank lender 1.50 $ 412.50 5/20/2010 RLS New lender update call prior to committee 0.50 $ 137.50 5/20/2010 RLS Client call re: bankruptcy plan, ownership, major unsecureds, perfomance, union 1.00 $ 275.00 5/24/2010 RLS Call with exisitng major bank lender 0.30 $ 82.50 5/25/2020 RLS Client call new lender approval, intercreditor, performance May, interest payments 0.50 $ 137.50 5/25/2010 RLS Update email to major bank lender, to begin coordination of documentation efforts 0.80 $ 220.00 5/28/2010 RLS Call with client counsel re: filing priorities/intercreditor 0.30 $ 82.50 5/28/2010 RLS Review and comment revised Plan and D/S 1.20 $ 330.00 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 5/01/2010 through 5/31/2010 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 7.60 $ 275.00 $ 2,090.00 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 5/5/2010 BMS Reviewed and sent weekly Cash Flow reproting to Bank 0.70 $ 140.00 5/18/2010 BMS Reviewed and sent weekly Cash Flow reproting to Bank 1.40 $ 280.00 5/19/2010 BMS Revised and sent e-mail regarding updated documentation for potential lender 1.70 $ 340.00 5/19/2010 BMS Reviewed YTD operating reprots, prepared correspondence with lender 0.70 $ 140.00 5/19/2010 BMS Sent E-mail regarding updated analysis and documentation to Bank 0.20 $ 40.00 5/20/2010 BMS Call with new lender re: credit committee meeting 1.40 $ 280.00 5/20/2010 BMS Updated sources and uses transaction sent to lender 0.50 $ 100.00 5/20/2010 BMS Updated Unsecured Note Sent to Client Counsel 0.50 $ 100.00 5/21/2010 BMS Updated corrections to Unsecured Note sent to Client Counsel 0.30 $ 60.00 5/24/2010 BMS Reviesed Company Prepared Budget 2.20 $ 440.00 5/25/2010 BMS Revised Company projections 3.20 $ 640.00 5/26/2010 BMS Revised Company projections 1.50 $ 300.00 5/26/2010 BMS Revised and sent updated transaction worksheet plan 1.20 $ 240.00 5/27/2010 BMS Revised and sent updated tranaction worksheet on Plan 0.50 $ 100.00 5/27/2010 BMS Finanlized Company prepared projections per Plan update 2.60 $ 520.00 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 5/01/2010 through 05/31/2010 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 18.60 $ 200.00 $ 3,720.00 EXHIBIT M LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 1-Jul-10 Billing For: June 2010 Invoice Number 242477 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 7.5 $ 2,062.50 Brett Stacey, Associate $200.00 9.0 $ 1,800.00 Total Professionals $ 3,862.50 Expenses (Receipts Attached) Airfare 0 hrs, @ $80/hr $ — Hotel $ — Rental Car $ — Total Expenses $ — Total Expenses $ — Total $ 3,862.50 $ 5,810.00 Balance due May Balance Due Upon Receipt $ 9,672.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 6/2/2010 RLS Call with client counsel re: filing priorities/inter-creditor 0.30 $ 82.50 6/18/2010 RLS Call with client counsel re: inter-credtor agreement, email to client counsel re: financing alternatives 1.20 $ 330.00 6/24/2010 RLS Update client call, cash position, orders, capex 0.80 $ 220.00 6/27/2010 RLS Client call re: passing of principal shareholder 0.40 $ 110.00 6/28/2010 RLS Call with client counsel re: response to passing of principal shareholder 0.30 $ 82.50 6/28/2010 RLS Call with client counsel re: restructuring alternatives 0.30 $ 82.50 6/28/2010 RLS Review existing model, review liquidation analysis, restructure and remodel new proposals 1.80 $ 495.00 6/28/2010 RLS Call with client bank re: passing of principal shareholder 0.30 $ 82.50 6/29/2010 RLS Call with client counsel, refine new proposals, prepare client bank presentation 2.10 $ 577.50 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals 6/01/2010 through 6/30/2010 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 7.50 $ 275.00 $ 2,062.50 Legacy Advisors
Detailed Billable Hours on Behalf of Champion Manufacturing Inc. Date Description Time Value 6/7/2010 BMS Compiled Client RCF model and Sent to Bank 1.20 $ 240.00 6/15/2010 BMS Call with prospective lender re: subordination agreement 0.20 $ 40.00 6/17/2010 BMS Call with Client Counsel re: Alternative financing options 0.20 $ 40.00 6/21/2010 BMS Review and updated cash flow model sent to bank 0.50 $ 100.00 6/21/2010 BMS Call with Client counsel re: closing cash 0.20 $ 40.00 6/24/2010 BMS Call with Client Counsel re: closing cash 0.20 $ 40.00 6/24/2010 BMS Email with bank counsel re: closing cash 0.10 $ 20.00 6/24/2010 BMS Updated Transaction worksheet 0.40 $ 80.00 6/28/2010 BMS Revised Transaction worksheet 0.70 $ 140.00 6/29/2010 BMS Updated and revised Cash Flow Budget July 2.30 $ 460.00 6/29/2010 BMS Call with Client re: cash flow budget 0.20 $ 40.00 6/29/2010 BMS Call with client counsel re: disclosure, transaction worksheet 0.30 $ 60.00 6/29/2010 BMS Revised company prepared projections and transaction worksheet 2.00 $ 400.00 6/30/2010 BMS Revised company prepared projections and transaction worksheet 0.50 $ 100.00 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ — Legacy Advisors Totals, 6/01/2010 through 06/30/2010 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 9.00 $ 200.00 $ 1,800.00 EXHIBIT N LEGACY ADVISORS INVESTMENT BANKERS 3948 Legacy Drive, Suite 106, Plano, TX 75023 214 705 1112 FAX 214 705 6278 6-Aug-10 Billing For: July 1, 2010 — August 5th 2010 Invoice Number 242478 Champion Manufacturing Industries, Inc.
Client Number: 0709
ATTN: Michael D. Lax
6021 North Galena Road
Peoria, IL 61614
In the matter of Champion Manufacturing Industries
BK Case 09-22027 Filed 06/17/09
Billing For:
Engagement Agreement of December 14, 2008 as Amended May 8, 2009
Professional Rate Hours Total Ron Stacey, Managing Director $275.00 6.4 $ 1,760.00 Brett Stacey, Associate $200.00 19.3 $ 3,860.00 Total Professionals $ 5,620.00 Expenses (Receipts Attached) Airfare 0 hrs, @ $80/hr $ — Hotel $ — Rental Car $ — Total Expenses $ — Total Expenses $ Total $ 5,620.00 Asset Sale Success Fee $ 146,070.68 Balance due June 2010 and May 2010 $ 9,672.50 Balance Due Upon Receipt $ 161,363.18 Legacy Advisors
Detailed billable hours on behalf of Champion Manufacturing Inc. Date Description Time Value 7/6/2010 RLS Client call re: plan confirmation 0.30 $ 82.50 7/22/2010 RLS Review new lender documents 0.80 $ 220.00 7/23/2010 RLS Call with client counsel on new lender documents, real estate lease issues 0.30 $ 82.50 Remodel operating and real estate companies to worst case, estimate optimum rental 7/26/2010 RLS payments, email counsel 2.10 $ 577.50 7/27/2010 RLS Go To Meeting conference call with client, and counse 1.30 $ 357.50 7/27/2010 RLS Conference call re: cash collections, disbursements, lender documents 0.40 $ 110.00 7/28/2010 RLS Review major bank loan documents 1.20 $ 330.00 RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — RLS $ — Legacy Advisors Totals 7/01/2010 through 7/31/2010 Consultant Summary Consultant Init Hours Rate Value Ronald Stacey RLS 6.40 $ 275.00 $ 1,760.00 Legacy Advisors
Detailed billable hours on behalf of Champion Manufacturing Inc. Date Description Time Value 7/1/2010 BMS Revised company prepared projections and transaction worksheet 3.10 $ 620.00 7/7/2010 BMS Call with Client counsel re: Sale efforts disclosure 0.10 $ 20.00 7/9/2010 BMS Prepared and Send Cash flow worksheet to Regions Bank 0.50 $ 100.00 7/9/2010 BMS Call with Regions Bank re: loan documentation 0.20 $ 40.00 7/9/2010 BMS Call with Greenfield Credit re: documentation 0.50 $ 100.00 7/9/2010 BMS Prepared and sent closing transaction worksheet 1.40 $ 280.00 7/09/201 BMS Prepared and sent unsecured Creditors worksheet and closing outline 2.20 $ 440.00 7/13/2010 BMS Call with Client counsel Re: Closing dates 0.20 $ 40.00 7/14/2010 BMS Prepared and Sent Cash flow worksheet to Regions Bank 0.50 $ 100.00 7/19/2010 BMS Prepared and Send Cash flow worksheet to Regions Bank 0.50 $ 100.00 7/19/2010 BMS Updated Transaction closing worksheet 0.50 $ 100.00 7/20/2010 BMS Conference Call with Client and Counsel re: Closing Logistics 0.30 $ 60.00 7/23/2010 BMS Reviewed Greenfield Loan documentation 1.50 $ 300.00 7/26/2010 BMS Analysis and Review Co Prepared Projections re: rental amounts 2.30 $ 460.00 7/27/2010 BMS Conference Call with Client and Counsel re: Closing Logistics 1.50 $ 300.00 7/27/2100 BMS Analysis and review of Regions Bank Loan Agreements 0.50 $ 100.00 7/27/2010 BMS Conference Call with Client and Counsel re: Closing Logistics/Greenfield 0.70 $ 140.00 7/28/2010 BMS Call with lender re: closing date 0.20 $ 40.00 7/28/2010 BMS Call with lender re: whirlpool accounts advances 0.10 $ 20.00 7/28/2010 BMS Call with Client re: borrowing base certificate 0.70 $ 140.00 8/3/2010 BMS Call with Client re: borrowing base certificate 0.20 $ 40.00 8/4/2010 BMS Call with Client re: Closing numbers 0.30 $ 60.00 8/4/2010 BMS Prepared Closing numbers worksheet calculated initial draw 0.50 $ 100.00 8/4/2010 BMS Call with client counsel re; closing numbers 0.10 $ 20.00 8/4/2010 BMS Prepared 90 cash budget for Client 0.50 $ 100.00 8/5/2010 BMS Call with Client re: final closing and LOC availability 0.20 $ 40.00 Legacy Advisors Totals, 7/01/2010 through 08/05/2010 Consultant Summary Consultant Init Hours Rate Value Brett Stacey BMS 19.30 $ 200.00 $ 3,860.00
EXHIBIT O
Legacy Advisors
Asset Sale Success Fee
Champion Manufacturing Inc. Date Description Success Fee calculation 8/5/2010 Purchase Price of Assets excluding Accounts Receivable and Inventory 1,375,258.00 Purchase Price of Accounts Receivable 390,028.00 Purchase Price of Inventory 547,518.00 Purchase Price of Real Estate Assets 2,294,264.35 Total $ 4,607,068.35 5% of the first million dollars involved in the Transaction or portion thereof 50,000.00 4% of the second million involved in the Transaction or portion thereof 40,000.00 3% of the third million involved in the Transaction or portion there of 30,000.00 2% of the Fourth Million involved in the Transaction or portion there of 20,000.00 1% everything above Four Million Dollars 6,070.68 Total $ 146,070.68