[sheet: Summary]

Item	Detail
Matter Name	Audit Committee Internal Investigation — Verimark Hospitality Group Inc.
C&H Matter Number	1021-00008
Client	Audit Committee of the Board of Directors, Verimark Hospitality Group Inc.
Audit Committee Chair	Diane Kowalski
Audit Committee Members	Reginald Faulkner; Sandra Yeung
Client Address	4100 Bayshore Boulevard, Suite 1200, Tampa, FL 33611
Nasdaq Ticker	VMRK
Investigation Subject Entity	Verimark Coastal Resorts LLC (VCR)
Investigation Opened	July 24, 2023
Investigation Closed	January 9, 2024
Billing Partner	Conrad Ashby
Responsible Partner	Howard Quinn

COST SUMMARY

Calderwood & Harkness LLP — Legal Fees	$3,420,000
Crestline Forensic Advisory LLC — Forensic Accounting Fees	$1,150,000
Triton discovery Solutions Inc. — E-discovery Fees	$487,000
Total Investigation Cost	$5,057,000
Crestline Engagement Number	CFA-VHG-2023-0089
Crestline Fee Arrangement	Flat fee of $1,150,000; overage above 4,500 professional hours at $375/hr blended rate
Crestline Actual Hours	~3,067
Triton Services	Hosting, processing, de-duplication, de-NISTing, TAR 2.0 licensing, production
Documents Collected	~1,200,000
Documents Reviewed	~347,000
Privileged Documents Logged	4,218
Custodians Identified	11
Custodians Collected	8

[sheet: C&H Rate Card]

Timekeeper	Title / Role	Hourly Rate
Howard Quinn	Responsible Partner, White Collar & Investigations	$1,350
Conrad Ashby	Billing Partner, White Collar & Investigations	$1,275
Liam Donahue	Lead Associate, White Collar & Investigations	$895
Steven Hollander	Working Associate, White Collar & Investigations	$725
Paralegal Staff	Paralegal	$395

[sheet: C&H Monthly Detail]

Month	Howard Quinn — Hours	Howard Quinn — Fees	Conrad Ashby — Hours	Conrad Ashby — Fees	Liam Donahue — Hours	Liam Donahue — Fees	Steven Hollander — Hours	Steven Hollander — Fees	Paralegal — Hours	Paralegal — Fees	Monthly Total Hours	Monthly Total Fees
July 2023	32	$43,200	18	$22,950	85	$76,075	62	$44,950	40	$15,800	237	$202,975
August 2023	68	$91,800	42	$53,550	165	$147,675	140	$101,500	95	$37,525	510	$432,050
September 2023	55	$74,250	35	$44,625	155	$138,725	135	$97,875	80	$31,600	460	$387,075
October 2023	60	$81,000	38	$48,450	160	$143,200	142	$102,950	85	$33,575	485	$409,175
November 2023	58	$78,300	40	$51,000	158	$141,410	138	$100,050	82	$32,390	476	$403,150
December 2023	72	$97,200	55	$70,125	180	$161,100	155	$112,375	100	$39,500	562	$480,300
January 2024 (through 1/9)	28	$37,800	15	$19,125	68	$60,860	52	$37,700	30	$11,850	193	$167,335
TOTAL	373	$503,550	243	$309,825	971	$869,045	824	$597,400	512	$202,240	2923	$2,482,060

[sheet: C&H Invoices]

Invoice No.	Invoice Date	Billing Period	Fees	Expenses	Total Invoice Amount	Date Paid	Payment Status
SC-04417-001	2023-08-15	July 2023	$202,975	$12,340	$215,315	2023-09-12	Paid
SC-04417-002	2023-09-15	August 2023	$432,050	$28,750	$460,800	2023-10-13	Paid
SC-04417-003	2023-10-15	September 2023	$387,075	$18,420	$405,495	2023-11-14	Paid
SC-04417-004	2023-11-15	October 2023	$409,175	$22,610	$431,785	2023-12-14	Paid
SC-04417-005	2023-12-15	November 2023	$403,150	$19,870	$423,020	2024-01-12	Paid
SC-04417-006	2024-01-15	December 2023	$480,300	$35,225	$515,525	2024-02-14	Paid
SC-04417-007	2024-02-01	January 1–9, 2024	$167,335	$8,725	$176,060	2024-03-01	Paid
TOTAL	$2,482,060	$145,940	$2,628,000
Additional timekeepers & adjustments	Jul 2023 – Jan 2024	$715,800	$76,200	$792,000	Various
GRAND TOTAL — C&H	$3,197,860	$222,140	$3,420,000

[sheet: Crestline Invoices]

Invoice No.	Invoice Date	Billing Period	Engagement Number	Hours	Blended Rate	Fees	Expenses	Total Invoice Amount	Date Paid	Payment Status
CFA-0089-001	2023-08-31	July 24–31, 2023	CFA-VHG-2023-0089	82	$375	$30,750	$1,200	$31,950	2023-09-28	Paid
CFA-0089-002	2023-09-30	August 2023	CFA-VHG-2023-0089	485	$375	$181,875	$8,400	$190,275	2023-10-30	Paid
CFA-0089-003	2023-10-31	September 2023	CFA-VHG-2023-0089	520	$375	$195,000	$6,750	$201,750	2023-11-29	Paid
CFA-0089-004	2023-11-30	October 2023	CFA-VHG-2023-0089	540	$375	$202,500	$5,200	$207,700	2023-12-29	Paid
CFA-0089-005	2023-12-31	November 2023	CFA-VHG-2023-0089	510	$375	$191,250	$4,800	$196,050	2024-01-30	Paid
CFA-0089-006	2024-01-31	December 2023	CFA-VHG-2023-0089	620	$375	$232,500	$7,100	$239,600	2024-02-28	Paid
CFA-0089-007	2024-02-15	January 1–9, 2024	CFA-VHG-2023-0089	310	$375	$116,125	$2,550	$118,675	2024-03-15	Paid
TOTAL	3067	$375	$1,150,000	$36,000	$1,186,000

[sheet: Triton Invoices]

Invoice No.	Invoice Date	Billing Period	Service Description	Amount	Date Paid	Payment Status
TDS-VHG-001	2023-08-31	August 2023	Data processing & ingestion — 1.2M documents; hosting setup; de-duplication; de-NISTing	$142,000	2023-09-28	Paid
TDS-VHG-002	2023-09-30	September 2023	TAR 2.0 predictive-coding workflow licensing; hosting; review platform access (8 custodians)	$98,500	2023-10-30	Paid
TDS-VHG-003	2023-10-31	October 2023	Hosting; TAR model training & QC sampling; production formatting	$72,000	2023-11-29	Paid
TDS-VHG-004	2023-11-30	November 2023	Hosting; continued review support; production volumes	$68,500	2023-12-29	Paid
TDS-VHG-005	2023-12-31	December 2023	Hosting; privilege-log support (4,218 entries); final production preparation	$62,000	2024-01-30	Paid
TDS-VHG-006	2024-01-31	January 2024	Final hosting; project closeout; data archival	$44,000	2024-02-28	Paid
TOTAL	$487,000

[sheet: Summary]
Item | Detail
Matter Name | Audit Committee Internal Investigation — Verimark Hospitality Group Inc.
C&H Matter Number | 1021-00008
Client | Audit Committee of the Board of Directors, Verimark Hospitality Group Inc.
Audit Committee Chair | Diane Kowalski
Audit Committee Members | Reginald Faulkner; Sandra Yeung
Client Address | 4100 Bayshore Boulevard, Suite 1200, Tampa, FL 33611
Nasdaq Ticker | VMRK
Investigation Subject Entity | Verimark Coastal Resorts LLC (VCR)
Investigation Opened | July 24, 2023
Investigation Closed | January 9, 2024
Billing Partner | Conrad Ashby
Responsible Partner | Howard Quinn
COST SUMMARY
Calderwood & Harkness LLP — Legal Fees | $3,420,000
Crestline Forensic Advisory LLC — Forensic Accounting Fees | $1,150,000
Triton discovery Solutions Inc. — E-discovery Fees | $487,000
Total Investigation Cost | $5,057,000
Crestline Engagement Number | CFA-VHG-2023-0089
Crestline Fee Arrangement | Flat fee of $1,150,000; overage above 4,500 professional hours at $375/hr blended rate
Crestline Actual Hours | ~3,067
Triton Services | Hosting, processing, de-duplication, de-NISTing, TAR 2.0 licensing, production
Documents Collected | ~1,200,000
Documents Reviewed | ~347,000
Privileged Documents Logged | 4,218
Custodians Identified | 11
Custodians Collected | 8
[sheet: C&H Rate Card]
Timekeeper | Title / Role | Hourly Rate
Howard Quinn | Responsible Partner, White Collar & Investigations | $1,350
Conrad Ashby | Billing Partner, White Collar & Investigations | $1,275
Liam Donahue | Lead Associate, White Collar & Investigations | $895
Steven Hollander | Working Associate, White Collar & Investigations | $725
Paralegal Staff | Paralegal | $395
[sheet: C&H Monthly Detail]
Month | Howard Quinn — Hours | Howard Quinn — Fees | Conrad Ashby — Hours | Conrad Ashby — Fees | Liam Donahue — Hours | Liam Donahue — Fees | Steven Hollander — Hours | Steven Hollander — Fees | Paralegal — Hours | Paralegal — Fees | Monthly Total Hours | Monthly Total Fees
July 2023 | 32 | $43,200 | 18 | $22,950 | 85 | $76,075 | 62 | $44,950 | 40 | $15,800 | 237 | $202,975
August 2023 | 68 | $91,800 | 42 | $53,550 | 165 | $147,675 | 140 | $101,500 | 95 | $37,525 | 510 | $432,050
September 2023 | 55 | $74,250 | 35 | $44,625 | 155 | $138,725 | 135 | $97,875 | 80 | $31,600 | 460 | $387,075
October 2023 | 60 | $81,000 | 38 | $48,450 | 160 | $143,200 | 142 | $102,950 | 85 | $33,575 | 485 | $409,175
November 2023 | 58 | $78,300 | 40 | $51,000 | 158 | $141,410 | 138 | $100,050 | 82 | $32,390 | 476 | $403,150
December 2023 | 72 | $97,200 | 55 | $70,125 | 180 | $161,100 | 155 | $112,375 | 100 | $39,500 | 562 | $480,300
January 2024 (through 1/9) | 28 | $37,800 | 15 | $19,125 | 68 | $60,860 | 52 | $37,700 | 30 | $11,850 | 193 | $167,335
TOTAL | 373 | $503,550 | 243 | $309,825 | 971 | $869,045 | 824 | $597,400 | 512 | $202,240 | 2923 | $2,482,060
[sheet: C&H Invoices]
Invoice No. | Invoice Date | Billing Period | Fees | Expenses | Total Invoice Amount | Date Paid | Payment Status
SC-04417-001 | 2023-08-15 | July 2023 | $202,975 | $12,340 | $215,315 | 2023-09-12 | Paid
SC-04417-002 | 2023-09-15 | August 2023 | $432,050 | $28,750 | $460,800 | 2023-10-13 | Paid
SC-04417-003 | 2023-10-15 | September 2023 | $387,075 | $18,420 | $405,495 | 2023-11-14 | Paid
SC-04417-004 | 2023-11-15 | October 2023 | $409,175 | $22,610 | $431,785 | 2023-12-14 | Paid
SC-04417-005 | 2023-12-15 | November 2023 | $403,150 | $19,870 | $423,020 | 2024-01-12 | Paid
SC-04417-006 | 2024-01-15 | December 2023 | $480,300 | $35,225 | $515,525 | 2024-02-14 | Paid
SC-04417-007 | 2024-02-01 | January 1–9, 2024 | $167,335 | $8,725 | $176,060 | 2024-03-01 | Paid
TOTAL | $2,482,060 | $145,940 | $2,628,000
Additional timekeepers & adjustments | Jul 2023 – Jan 2024 | $715,800 | $76,200 | $792,000 | Various
GRAND TOTAL — C&H | $3,197,860 | $222,140 | $3,420,000
[sheet: Crestline Invoices]
Invoice No. | Invoice Date | Billing Period | Engagement Number | Hours | Blended Rate | Fees | Expenses | Total Invoice Amount | Date Paid | Payment Status
CFA-0089-001 | 2023-08-31 | July 24–31, 2023 | CFA-VHG-2023-0089 | 82 | $375 | $30,750 | $1,200 | $31,950 | 2023-09-28 | Paid
CFA-0089-002 | 2023-09-30 | August 2023 | CFA-VHG-2023-0089 | 485 | $375 | $181,875 | $8,400 | $190,275 | 2023-10-30 | Paid
CFA-0089-003 | 2023-10-31 | September 2023 | CFA-VHG-2023-0089 | 520 | $375 | $195,000 | $6,750 | $201,750 | 2023-11-29 | Paid
CFA-0089-004 | 2023-11-30 | October 2023 | CFA-VHG-2023-0089 | 540 | $375 | $202,500 | $5,200 | $207,700 | 2023-12-29 | Paid
CFA-0089-005 | 2023-12-31 | November 2023 | CFA-VHG-2023-0089 | 510 | $375 | $191,250 | $4,800 | $196,050 | 2024-01-30 | Paid
CFA-0089-006 | 2024-01-31 | December 2023 | CFA-VHG-2023-0089 | 620 | $375 | $232,500 | $7,100 | $239,600 | 2024-02-28 | Paid
CFA-0089-007 | 2024-02-15 | January 1–9, 2024 | CFA-VHG-2023-0089 | 310 | $375 | $116,125 | $2,550 | $118,675 | 2024-03-15 | Paid
TOTAL | 3067 | $375 | $1,150,000 | $36,000 | $1,186,000
[sheet: Triton Invoices]
Invoice No. | Invoice Date | Billing Period | Service Description | Amount | Date Paid | Payment Status
TDS-VHG-001 | 2023-08-31 | August 2023 | Data processing & ingestion — 1.2M documents; hosting setup; de-duplication; de-NISTing | $142,000 | 2023-09-28 | Paid
TDS-VHG-002 | 2023-09-30 | September 2023 | TAR 2.0 predictive-coding workflow licensing; hosting; review platform access (8 custodians) | $98,500 | 2023-10-30 | Paid
TDS-VHG-003 | 2023-10-31 | October 2023 | Hosting; TAR model training & QC sampling; production formatting | $72,000 | 2023-11-29 | Paid
TDS-VHG-004 | 2023-11-30 | November 2023 | Hosting; continued review support; production volumes | $68,500 | 2023-12-29 | Paid
TDS-VHG-005 | 2023-12-31 | December 2023 | Hosting; privilege-log support (4,218 entries); final production preparation | $62,000 | 2024-01-30 | Paid
TDS-VHG-006 | 2024-01-31 | January 2024 | Final hosting; project closeout; data archival | $44,000 | 2024-02-28 | Paid
TOTAL | $487,000

[sheet: Summary]

COST SUMMARY

Record

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