How LMS Works

Give us a call or send an e-mail. If you have a website or there is public information about your company we will be pleased to review this, first, and save you some of the preliminaries. Once we have a general understanding of the nature of your interest we’ll tell you if we think we can be of service and why. If we mutually agree, we will then arrange for in-depth discussions. We commit to keep these discussions confidential and if you wish we can execute and send you our Pre-engagement Confidentiality Agreement. We will seek to determine scope of the work, the organizational approach, timetable and available resources. As soon as it is practical we will introduce into these discussions the LMS Executive that we believe is best suited for the assignment. If you agree we will then arrange for a personal meeting with you. We will also want to have some dialogue with the people in your organization that will be participating in the work or have a strong interest in the outcome. Our discussions will conclude with a proposed Engagement Letter. The standard form for this and our General Terms and Conditions are available for your review.

The LMS executive will work from your premises. LMS executives use the latest communications and office management technologies and provide their own business tools. Our Lake Forest office has a full range of office equipment and software.

Professional Fees

All work is performed under an engagement letter that identifies the specific service provider, outlines the scope of the assignment, and sets out the fees and other terms and conditions.

• Fees are charged on a per diem basis and vary between $750 and $1,500 per day depending upon the individual executive and the nature of the assignment.

• LMS guarantees a minimum 8 hour work day and our executives frequently put in much longer hours. There is no additional fee for extra hours worked. Subject to client approval, a modest amount of compensatory time may be requested for return travel.

• Work on weekends and holidays, when appropriate, is charged at standard per diem rates.

• Outbound travel time is charged to clients at the per diem rate. Our executives will endeavor to take the first flight out in the morning and work a full day.

• Outbound travel, from an executive’s home, that is scheduled the evening before the beginning of the work-week , or the beginning of an assignment will be charged at 50% of the per diem rate, regardless of the amount of travel time. Full per diem rates commence the following day if travel continues into the next work day.

• Return travel time is not charged on most domestic assignments. The per diem rate for return travel will be fixed in the engagement letter for international and remote assignments.

Incentive Fees

LMS may propose an incentive fee for the second engagement with a client. Our professional fees entitle the client to fully satisfactory performance by the LMS executive. An incentive fee is appropriate when exceptional results are desired or difficult circumstances must be overcome.

LMS believes that incentive fee arrangements should be based upon a foundation of mutual trust and the client should retain reasonable discretion in granting the fee, unless objective criteria is established.

Designated Company Resources

LMS strategy is to request that the client appoint at least one of their employees to work full time with us on the engagement. There are certain instances (say if we’re asked to be a member of a team, or in a pure advisory role), when we will act independently. But, the result of any fact finding mission, project assignment or temporary management position will be enhanced with dedicated internal support.

Our experience has taught us that lack of management commitment is the single largest reason why projects fail. In a way, the quality of the staff that you are willing place at our disposal is a measure of your commitment. We think that our request is modest. We do not ask for fully qualified resources - we ask for potentially qualified resources. Bridging the gap is part of our value added. The development of your staff is an extra dividend.

The ideal candidate is someone of high intelligence, who you trust will work with enthusiasm and integrity; has a decent understanding of your company’s organization, products and customers; has an educational background or training in the relevant subject area; and has reasonable expectations of a continuing career with the company. A good DCR is a valuable employee with skills, experience, potential and the ambition to meet the challenge to work a few steps above their current level. Typically, this person is a younger member of your staff but veteran employees of good caliber may fill the bill if eager to work outside their comfort zone.

Travel Policy

LMS will seek reimbursement from clients for all necessary and reasonable travel and living expense when traveling on client’s business.

• Air travel will generally be booked in economy class.

• Hotel accommodations will be booked to match client’s standard.

• LMS will welcome the use of client’s travel agency to obtain discounts and to coordinate travel with client staff.

• Personal mileage will be billed at 36¢ per mile

• A daily allowance will be used for reimbursement of meals and incidentals. The standard rate of $45 per day will apply unless modified in the engagement letter. The allowance will be reduced when meals are provided either by the hotel or client. One day trips - out and back the same day - will incur a $25 charge for meals and incidentals.

• LMS will not entertain client’s staff at client’s expense.

• Travel expense invoices will be itemized but receipts will not be submitted. On request receipts will made available for airfare, hotel, car rentals and any other expense item in excess of $50.

• LMS executives may return home on weekends or remain on location at client’s expense when traveling on domestic assignments (including Canada and Mexico) that extend more than a week. Generally, return home travel for international assignments will apply for assignments that extend beyond two weeks. Travel at client expense to a cheaper destination, other than home, to meet with family is also allowed. Family members will not travel with LMS executives without advance concurrence of client.