Confirming Tax Abatement - 3445 William Richardson Drive - Lake Michigan Mailer, Inc (Jade Elephant Holding, LLC)

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Pending the granting of the tax abatement, LMM intends to install the equipment listed in Exhibit D attached hereto. This equipment designed to allow LMM to perform the following functions: • Mailpiece assembly • Mailpiece barcoding, sorting and preliminary distribution • Data processing and management • Document creation and final assembly 2. The project is expected create five 5 full -time and six 6 part-time permanent jobs within the first year, representing an estimated new annual payroll of $250,000.00. (Excluding LMM's contribution to the associate's medical insurance premium, life insurance premium, as well as, hazardous -duty pay, on -call pay and tips, back pay, overtime pay, non - production bonuses, and tuition reimbursements. The dollar value above includes LMM's guaranteed contribution to the associate's 401(k) plan once plan requirements are satisfied, as well as incentive pay including commissions and production bonuses.) The projected annual salaries for each new position created are estimated to be as follows: Pending the granting of the tax abatement, LMM anticipates creating the positions detailed below at the South Bend facility. While full -time positions offer a more robust benefits package than that of part- time positions, LMM typically does not pay a different hourly rate for part-time positions versus similarly classified full -time positions. In short, the only variable in annual costs for such differential is the total number of hours worked. In the projection below, a part-time position is based on 25 hours per work week. The "Mail Processor — Route Driver" position offers a two -tier hourly rate; a Mail Processor wage and a Route Driver wage. The estimation below assumes a properly qualified /experienced individual following LMM - provided training for specific menu of responsibilities. All positions will be created based on business growth and market demands. LMM is an Equal Opportunity Employer. The dollar values include LMM's guaranteed contribution to the associate's 401(k) plan once plan requirements are satisfied; holiday pay and vacation pay. The dollar values exclude LMM's contribution to the associate's medical insurance premium, life insurance premium, as well as, hazardous -duty pay, incentive pay including commissions and production bonuses, on -call pay and tips, back pay, jury duty pay, overtime pay, severance pay, shift differentials, non - production bonuses, and tuition reimbursements. (Revised 8/2/02) 2