Interim General Manager, Steven Starr, takes first step in securing control of KPFK funds.
Wed., 02/13/02

What follows is an agreement between KPFK and Pacifica regarding control over fund drive income.

February 6, 2002

Dan Coughlin
Pacifica Foundation
Washington, D.C.

Dear Dan,
The purpose of this note is to confirm the following understanding as it relates to KPFK’s February 2002 fund drive and, if undertaken, the proposed February/March Pacifica Network-wide "Save The Signal" KPFK Transmitter Fund Drive.

1. February 2002 Fund Drive:

KPFK shall establish a local bank account for the purpose of receiving, with no deductions whatsoever, 100% of the first $400,000 raised for the station by KPFK during the February 2002 Fund Drive. To whatever extent the February 2002 Fund Drive receipts exceed $400,000, KPFK will allocate and deposit 50% of those receipts into this local bank account, and allocate and remit 50% of those receipts to the national office for the sole and express purpose of covering KPFK payroll costs for the pay period or periods immediately following the end of the February 2002 Fund Drive.

Further, it is understood that this agreement is for the February 20 Fund Drive only, and with the exception of the aforementioned payroll allocation/distribution, all KPFK payroll and other costs currently paid out by national will continue to be paid for as such.

2. "Save The Signal" KPFK Transmitter Project Fund Drive:

In the event that a Pacifica Network, five-station "Save The Signal" KPFK Transmitter Fund Drive is undertaken in February/March 2002, KPFK will receive, without deduction and from all participating Pacifica Network stations, 100% of all net proceeds from this Fund Drive. Such proceeds are to be used for the express purpose of finishing current construction on the KPFK transmitter and other, related Transmitter Project initiatives, and will in no way affect KPFK’s right to a continued and complete recovery of all outstanding funds related to it’s Transmitter Project.

Thank you,

AGREED TO AND ACCEPTED BY:

Steven Starr Interim General Manager KPFK - FM
Dan Coughlin Interim Executive Director Pacifica Foundation