Document O3JexB057g5QyZ5BnjnVOk1ov

Shanghai Health Study 2001 Actuals Invoiced $2,981,950 Funds Received $2,167,232 Contract Funds Committed ($2,355,573) 200 1 Admin costs ($ 63,737) Balance ($ 252,078) SH ELL-MCCLU RG-065923 Budget Comparison Original Budget 1/01 Case Control DP & ME Studies Science Review Panel Public Affairs API Admin Costs TOTAL COST $19,261,000* * $500K "repayment" to API included in original estimate already deducted Proposed Budget 12/01 Case Control DP & ME Studies Public Affairs API Admin Costs Science Review Panel Ethics Review Panel Path and Cyto genetic workgroups Outside Counsel QAIQC TOTAL COST $22,789,299 SH ELL-MCCLU RG-065924 AUGUST 2003 INVOICE 1 Shanghai Health Research 2 A I B I C I D IE F G August-01 I YEAR 1 H January-02 I 3 Company Name 4 5 BP 6 7 Chevron 8 9 Conoco 10 11 ExxonMobil 12 13 Shell 14 15 16 Column Total 17 18 Cumulative Total 19 20 21 22 2001 Program Cost 23 24 25 15% of total cost 26 27 28 29 30 31 32 Formula 33 (program costlll) (#sharel company) (%) 34 35 36 1 Year 1 invoices billed as percent of 2001 estimated total program cost Commitment NOT TO EXCEED 4,224,000 3,000,000 1,408,000 5,000,000 3,000,000 16,632,000 Share 3 2 1 3 2 11 15% 806,441 537,627 268,814 806,441 537,627 2,956,950 2,956,950 15% 806,441 537,627 268,814 806,441 537,627 2,956,950 5,913,900 19,713,000 1 2,956,950 2002 Program Cost 25% of total cost 2002 Program Cost 25% of total cost Example: Example: ($19,713,000/11) (1 share) (.25) = ($16,632,000/11) (1 share) (.25) = August 28, 2002 SH ELL-MCCLU RG-065925 AUGUST 2003 INVOICE 1 2 3 4 5 6 7 8 9 10 11 12 13 ~ 15 16 17 18 19 20 21 r-2n2 24 25 26 r-2-7- 28 29 30 31 32 33 34 35 36 JI YEAR 2 August-02 K 25% at $19,713,000 1,344,069 896,046 448,023 1,344,069 896,046 L M IN YEAR 3 August-03 "Not to Exceed" Balance remaining 1,267,049 1,028,700 422,349 2,043,049 1,028,700 4,928,253 10,842,153 11,703,747 19,713,000 16,632,000 $448,023 $378,000 August 28, 2002 SH ELL-MCCLU RG-065926 AUGUST 2003 INVOICE 1 Shanghai Health Research 2 A B 3 Company Name 4 5 BP 6 7 Chevron 8 9 Conoco 10 11 ExxonMobil 12 13 Shell 14 15 16 Column Total 17 18 Cumulative Total 19 20 21 22 2001 Program Cost 23 24 25 15% of total cost 26 27 28 29 30 31 32 Formula 33 (program costlll) (#sharel company) (%) 34 35 36 1 Year 1 invoices billed as percent of 2001 estimated total program cost 37 2 Contract value of $1 ,500,000 1 share C D EF Commitment by share2 4,500,000 3,000,000 1,500,000 4,500,000 3,000,000 16,500,000 Share 3 2 1 3 2 11 G August-01 YEAR 1 15% 806,441 537,627 268,814 806,441 537,627 2,956,950 2,956,950 H January-02 15% I 806,441 537,627 268,814 806,441 537,627 2,956,950 5,913,900 19,713,000 1 2,956,950 2002 Program Cost 25% of total cost 2002 Program Cost 25% of total cost Example: Example: ($19,713,000/11) (1 share) (.25) = ($16,632,000/11) (1 share) (.25) = August 28, 2002 SH ELL-MCCLU RG-065927 AUGUST 2003 INVOICE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 '15 16 17 18 19 20 21 22 "23 24 25 26 r2-7- 28 29 30 31 32 33 34 35 36 37 J YEAR 2 August-02 K 25% at $19,713,000 1,344,069 896,046 448,023 1,344,069 896,046 4,928,253 10,842,153 LM YEAR 3 August-03 Share Balance remaining 1,543,049 1,028,700 514,349 1,543,049 1,028,700 11,571,747 19,713,000 16,632,000 $448,023 $378,000 August 28, 2002 SH ELL-MCCLU RG-065928 BENZENE HEALTH RESEARCH CONSORTIUM For Discussion - Options for Revised Number of Shares April 21, 2004 Option #1 (Give each of the 4 companies who agreed to provided additional funding above the original commitment an additional share.) Company Original Original Revised Revised Revised Funding # of Budget Funding # of shares $16,500,000 shares $21,084,000 Co. Additional Revised Contribution $548,000* Funding by per original Company share BP/Amoco $ 4,500,000 3 $ 0 $4,500,000 3 ChevronTexaco 3,000,000 2 1,096,000 4,096,000 3 ConocoPhillips 1,500,000 1 548,000 2,048,000 2 ExxonMobil 4,500,000 3 1,644,000 6,144,000 4 Shell 3,000,000 2 1,096,000 4,096,000 3 Total $16,500,000 11 $4,384,000* 14 Marathon 200,000 Contribution GRAND TOTAL $21,084,000 *Addl.t.lonal total per share has been adjusted for $200,000 contribution by Marathon, which resulted in a $25K reduction per additional share. Option #2 (need an explanation of the rationale) Company Original Original Revised Revised Revised Funding # of Budget Funding # of shares $16,500,000 shares $21,084,000 Co. Contribution Revised Contribution $548,000* Funding by per original Company share BP/Amoco $ 4,500,000 3 $ 0 $4,500,000 3 ChevronTexaco 3,000,000 2 1,096,000 4,096,000 4 ConocoPhillips 1,500,000 1 548,000 2,048,000 2 ExxonMobil 4,500,000 3 1,644,000 6,144,000 6 Shell 3,000,000 2 1,096,000 4,096,000 4 Total $16,500,000 11 $4,384,000* 19 Marathon 200,000 Contribution GRAND TOTAL $21,084,000 *Addl.t.lonal total per share has been adjusted for $200,000 contribution by Marathon, which resulted in a $25K reduction per additional share. SH ELL-MCCLU RG-065929 Option #3 ($500K =1 share; round up/down as appropriate) Company Original Original Revised Revised Revised Funding # of Budget Funding # of shares $16,500,000 shares $21,084,000 Co. Contribution Revised Contribution $548,000* Funding by per original Company share BP/Amoco $ 4,500,000 3 $ 0 $4,500,000 9 ChevronTexaco 3,000,000 2 1,096,000 4,096,000 8 ConocoPhillips 1,500,000 1 548,000 2,048,000 4 ExxonMobil 4,500,000 3 1,644,000 6,144,000 12 Shell 3,000,000 2 1,096,000 4,096,000 8 Total $16,500,000 11 $4,384,000* 41 Marathon 200,000 Contribution GRAND TOTAL $21,084,000 *Addl.t.lonal total per share has been adjusted for $200,000 contribution by Marathon, which resulted in a $25K reduction per additional share. Points for discussion: Option 1: Y 2/3 majority = 10 shares; it would take at least 3 companies to meet this threshold Y equity: $548K, $1096K and $1644K additional payment all get only one additional share Option 2: Y 2/3 majority = 13 shares; it would take at least 3 companies to meet this threshold Y equity: each $548K of additional payment gets one additional share Y equity: BP paying $4.5 million for 3 shares; CVT & Shell paying $4.1 million for 4 shares Option 3: Y redefine shares for all companies; 1 share for each $500K (round up or down, as appropriate Y 2/3 majority = 27 shares; it would take at least 3 companies to meet this threshold Y equity: maintains shares proportional to total funding; Marathon does not meet threshold for a share { FILENAME \p } SH ELL-MCCLU RG-065930 A T PP projectection 20 May 2003 r-2- f- 3 4 Invoicing / Percent per period* 5 Income 6 Income** 7 Expenses - Totals 8 9 Cumulative Projected Income 10 Cummlative Projected Expenses 11 12 Balance B 13 14 Expense Breakout 15 UCHSC 16 Actual & Projected 17 18 Irons - Field Expenses 19 Actual & Projected 20 21 Applied Health Sciences 22 Actual & Projected 23 24 Fudan University - Case/Control Study 25 Actual & Projected 26 27 Scientific Review Panel 28 Actual & Projected 29 30 Ethics Review Panel 31 Actual & Projected 32 33 Communications - APCO 34 Actual & Projected 35 36 External Pathology & Cytogenetics Workgroups 37 cost included in UC grant 38 39 Outside Legal Counsel 40 Actual & Projected 41 42 QAlQC Support 43 Actual & Projected 44 45 API Administrative and Overhead 46 Actual & Projected 47 CIDI E I F ACTUAL G Sep-01 15% Jan-02 15% Aug-02 25% Jan-03 Aug-03 Balance $2,165,509 $3,763,391 $2,264,952 $2,553,500 $5,040,261 $4,090,027 $879,542 $5,642,847 $3,249,595 $2,165,509 $5,928,900 $2,264,952 $4,818,452 $10,969,161 $8,908,479 $10,969,161 $9,788,021 $16,612,008 $13,037,616 ($99,443) $1,110,448 $2,060,682 $1,181,140 $3,574,392 $2,049,750 $2,049,750 $3,416,250 $145,762 $259,499 $133,605 $7,000 $84,025 $435,514 $15,219 $16,923 $2,500 $136,870 $89,439 $2,580,750 $133,605 $133,605 $432,511 $196,680 $26,459 $59,000 $8,800 $95,000 $3,000 $27,000 $71,445 $72,060 $13,076 $12,500 $43,017 $23,356 $190,646 $73,000 SH ELL-MCCLU RG-065931 H I J K L M N0 P T Projected 2 3 Jan-04 Aug-04 Jan-05 Aug-05 Jan-06 Jan-07 Totals 4 15% 5 6 $16,612,008 7 $710,634 $3,335,636 $778,387 $3,348,195 $926,045 $652,786 $22,789,299 8 9 $16,612,008 10 $13,748,250 11 $16,612,008 $17,083,886 $16,612,008 $17,862,273 $16,612,008 $21,210,468 $16,612,008 $22,136,513 $16,612,008 $22,789,299 12 $2,863,758 ($471,878) ($1,250,265) ($4,598,460) ($5,524,505) ($6,177,291) **Variance to 13 Jan 2002 14 15 16 $2,580,750 $2,580,750 $15,258,000 $0 17 18 -$153,273 19 $133,605 $133,605 $133,605 $133,605 $133,605 $123,172 $1,597,273 $0 20 21 22 $196,681 $220,933 $220,934 $224,992 $224,993 $38,832 $2,283,095 $0 23 24 -661001 25 $90,000 $100,000 $100,000 $100,000 $90,000 $80,322 $661,000 26 27 28 $50,000 $50,000 $52,500 $52,500 $110,250 $115,763 $551,736 $96,264 29 30 31 $27,000 $27,000 $27,000 $27,000 $27,000 $24,500 $192,000 $24,000 32 33 34 $68,848 $78,848 $68,848 $78,848 $137,697 $157,697 $960,600 $39,400 35 36 37 $130,000 38 39 40 $12,500 $12,500 $12,500 $12,500 $12,500 $12,500 $100,576 $399,424 41 42 43 $25,000 $50,000 $25,000 $100,000 $125,000 44 45 46 $132,000 $132,000 $138,000 $138,000 $140,000 $75,000 $1,085,019 $186 47 Q R $16,855,273 $2,944,095 SH ELL-MCCLU RG-065932 AB 48 **Difference from OC approved budget Budget (Jan 2002)> "Project Cost Estimate" 49 IcIDI E I F I G III I I SH ELL-MCCLU RG-065933 H I::I J K L M $22,~89,2991 0 I P $01 Q I R SH ELL-MCCLU RG-065934 AB 1 Updated: May 21,2003 2 CD 3 Item 4 Case-Control Study 5 DP & ME Studies 6 7 Scientific Review Panel 8 Ethics Review Panel 9 'External Pathology & Cytogenetics Workgroups 10 11 API Seed Monies 12 Outside Counsel 13 Public Affairs 14 QAJQC Activities 15 16 17 18 GRAND TOTAL 19 20 Notes/Assumptions: 21 22 23 Total Research Costs Total Panel Costs Miscellaneous Costs Subtotal API Overhead (5%) * $130,000 Included in UC Grant Original Cost Estimate Revised Cost Estimate (Jan. 2001) (Dec. 2001) $1,761,000 $2,283,094 $15,109,000 $16,702,000 $16,870,000 $18,985,094 $648,000 $216,000 $130,000 $450,000 $994,000 $500,000 $500,000 $1,000,000 $1,000,000 $225,000 $1,500,000 $1,725,000 $18,820,000 $21,704,094 $941,000 $1,085,205 $19,761,000 $22,789,299 - The total research costs have changed as a result of the protocol review process and - Panel costs assume that there will be only one face-to-face meeting for each panel each - Miscellaneous costs for outside counsel and media relations are based solely on E Revised Cost Estimate (May 2003) $2,944,095 $16,855,273 $19,799,368 $551,736 $192,000 $0 $743,736 $100,576 $960,600 $100,000 $1,161,176 $21,704,280 $1,085,019 $22,789,299 Date Printed: &[DATE] SH ELL-MCCLU RG-065935 An Overview of API Accounting Practices Lorraine Twerdok November 11 , 2003 SH ELL-MCCLU RG-065936