Iconix Authorization Matrix
PRE-APPROVAL OF MARKETING & ADVERTISING EXPENDITURES
Media Plans, Advertising Concepts, Production, Talent Contracts*
Up to $10K
- Approved by: Chief Marketing Officer (CMO) Designee
$10,000-$99K
- Approved by: CMO
$100K or Greater
- Approved by: CMO and CFO or CEO
*Assumes all are budgeted for
Media Plans, Advertising Concepts Production, Talent Contracts* |
|
Up to $10K |
Approved by: Chief Marketing Officer (CMO) Designee |
$10,000-$99K |
Approved by: CMO |
$100K or Greater |
Approved by: CMO and CFO or CEO |
*Assumes all are budgeted for |
PRE-APPROVAL OF CONSULTANTS
- All consultants must be approved prior to the consultant starting any work.
- “Consultant Approval Form” will be used for this purpose
- Iconix was recently fined by the State of New York approximately $75,000 for not complying with consultant tax regulations
- Extensions of consulting agreements must go through same process
CHECK REQUESTS/ CORPORATE CREDIT CARD EXPENSE REQUESTS/ OTHER EXPENSE APPROVALS/ VENDOR INVOICES*
Less than $500 – Domestic
- Requestor – Various
- Approver – Head of Department or designee
$500 – $25,000 – Domestic
- Approver – Head of Department
$25,000 or Greater – Domestic
- Approver – Head of Department & CFO
Less than $10,000 – International
- Approver – Lee Cooper Managing Director
- Approver – Umbro Managing Director
- Approver – Iconix China and Shanghai Managing Director
$10,000 or Greater – International
- Approver – President of International
CASH DISBURSEMENTS – CHECKS
Domestic
Less than $10,000
- Domestic Check Signer: VP-Financial Planning & Analysis
$10,001-$24,999
- Domestic Check Signer: CFO; SVP-Finance; or General Counsel (1 signature)
$25,000 or Greater (except “out-of-the ordinary” expenses greater than $250,000)
- Domestic Check Signers: CFO/SVP-Finance/General Counsel (2 signatures)
Expenses “out-of-the ordinary” Greater than $250,000
- Domestic Check Signers: CEO and Executive Chairman; and either CFO/SVP-Finance/ or General Counsel (2 signatures)
Note 1: Ordinary = debt service, rent, payroll, intercompany, etc.
International – Iconix China Ltd (“ICL”) and Iconix Shanghai (“Shanghai”)
[Other international locations do not use checks]
Less than $10,000
- ICL and Shanghai Check Signer: Managing Director – ICL
$10,001 – $24,999
- ICL Check Signers: Managing Director – ICL, and President – International or CFO
- Shanghai Check Signer: Managing Director – ICL
$25,000 or Greater (except “out-of-the ordinary” expenses greater than $250,000)
- ICL Check Signers: Managing Director – ICL, and President – International or CFO
- Shanghai Check Signer: Managing Director – ICL
Expenses “out-of-the ordinary” Greater than $250,000
- ICL Check Signers: CEO and Executive Chairman, and Managing Director – ICL, and President – International or CFO
- Shanghai Check Signer: Managing Director – ICL