Category: Finance Announcements

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

Iconix T&E Policy Summary

Dear Iconix Team Members,

This document is only a summary of certain commonly incurred T&E expenses. For the entire document, please navigate to the HR Department section on the intranet and click on “Policies.”  Only the CFO may approve exceptions to the policies.

Area

Relevant Policy Information

Preferred Travel Provider

 Tzell Travel Group

Rick Lozano (212) 944-2121 ext. 2243

After hours: (800) 639-7934

Membership code: X840 RLozano@Tzell.com

Protravel International Inc Travel

Consultant: Janice Boyd

Direct Phone 212-409-9565

800-227-1059 x9565 Janiceb@protravelinc.com

Skylux Travel

General line: (855) 507-9770

Trips may be booked using the internet and the employee’s personal credit card; however, the Tzell or Skylux. Price quote must be attached to the T&E report

Flights
  •  Domestic: All employees – Coach class
  • International: Flights > 6 hours – Business class
  • Overnight flights and employee in office next day – Business class; otherwise, Coach class
  • Select flight based on cost; not frequent flyer program.
  • Purchasing flights at the last minute can be expensive!
  • Domestic flights >$750 and International flights >$2,500 require advance approval of the CFO or his designee
Hotels
  • Maximum rate including fees/taxes for all employees –
  • $300 (+ 25% for major cities)
  • A “Marriott” or equivalent business hotel should be considered the best option/standard
  • Preferred hotels in New York City – special rates are available at these hotels near Iconix using the links below:

Hilton Times Square, 234 West 42nd Street https://secure3.hilton.com/en_US/hi/reservation/book.htm?ctyhocn=NYCTSHF&corporateCode=N2752299

The Knickerbocker, 6 Times Square

 https://theknickerbocker.reztrip.com/ext/promoRate?property=583&mode=b&pm=true&sr=239289&vr=3&a ccessCode=N1LO

LUMA Hotel Times Square, 120 West 41st Street

https://www.lumahotels.com/special-offers/neighborhood-rate

Car Service/ Rental Cars
  • Hertz discount code: CD1789075
  • Budget discount code: CD5218015
  • Do not purchase any insurance (covered by Corporate policies)
  • It is preferable to use taxis, Uber, or Lyft for transportation to/from airports, and other venues.
Business Meals
  • Daily maximum out-of-town meal allowance is $100 (US and other); and, $150 (Europe)
  • All attendee names (Iconix/others) must be documented with the business purpose
  • Alcohol (moderate cost/consumption) is a reimbursable expense for entertaining clients, but not for employee only dinners or as part of an out-of-town meal allowance
  • For in-house catering, Events & Everyday should be used (212) 693-8368

Use common sense and prudent judgment when incurring T&E expenses. If in doubt refer to the T&E Policy, or ask your supervisor/manager. Remember – these expenses impact Iconix’s profitability.

Please see link below for the PDF file:

T&E Policy 2018 Summary

EXPENSIFY – USER GUIDE!

Welcome to Expensify – the new way to create, submit and approve your Travel & Entertainment(T&E) expenses at Iconix Brand Group, Inc.

In the following link, you will find all you need to know to utilize Expensify for: creating and submitting expense reports for reimbursement as a submitter; reviewing and approving expense reports as an approver.

https://iconixbrandgroup.sharepoint.com/sites/intranet/_layouts/15/DocIdRedir.aspx?ID=A2Z47HS4ZR35-786892687-125&e=30d8cd55398341b185b5dab7f25abec4

Should you have any comments, questions, or even tips, the Expensify team at Iconix is here to help. Please see our contact information below.

Thank you!

Santosh – x8533 or 212-293-8533 or SAmradkar@iconixbrand.com

Marcia – x2082 or 212-819-2082 mmclaughlin@iconixbrand.com

Iconix Brand Group Expense Report (for Domestic Consultants)

Expense Report – Consultant (Domestic)

How-To Fill out Expense Report Template:

PAGE 1 of the Expense Report:Expense Report Template-Employee:

The report allows you to enter information in certain fields:

  • You can type your name, the business purpose of the expenses, phone extension, and the from and to dates of your expenses.
  • You can enter dates of your expense(s) using the format indicated – “mm/dd/yyyy”.
  • You can enter dollar amounts in the fields located below the date format – “mm/dd/yyyy”.
  • You can also type in a new expense name in the blank fields located under the Categories:  Travel, Lodging, Meals, and Other Expenses.
  • The report is formatted to automatically sum the dollar amounts that are entered.

PAGE 2 of the Expense Report:

As stated in the Iconix T&E policy, descriptions are required for business meetings, business-related Entertainment, and mostly everything that is listed under Other Expenses.

Please use Page 2 to enter this information under the designated areas for these categories.

Please note: Once you have completed filling out your expenses and affixed original receipts, please sign the hard copy of the expense report. A typed signature will not be accepted.

Iconix Brand Group, Inc. Expense Report (for International Consultants)

Expense Report Template-Consultant (International)

How-To Fill out Expense Report Template:

 

Enter all expense items on page 2 of the Expense Report template under their respective categories.

As each of the 3 categories of charges are being listed by the employee on Page 2 in USD, there is an automatic tallying of the USD amounts of each of the 3 categories of charges on Page 1 of the expense report.

The USD Grand Total of each of the 3 categories of charges on Page 2 will equal the Total of each of the 3 categories of charges on Page 1 – in their individual respective areas (see the blue-shaded areas).

  1. Also, on Page 2, you have the option of entering an exchange rate (XR) or currency type (i.e. pounds, euros) used for each transaction. If the transaction appears on your credit card statement in USD, you need not list the XR.  However, list:  the currency type, the Foreign Currency Amount (FC) and the USD amount.
  2.  If the transaction was in cash, please list the exchange rate (XR) used by you to convert the Foreign Currency Amount to US Dollars (USD).

Please note: Once you have completed filling out your expenses and affixed original receipts, please sign the hard copy of the expense report. A typed signature will not be accepted.

Iconix Brand Group Expense Report Assembling Tips

Sample Expense Report with Exhibits

  • Tape (not staple) receipts to an 8 ½ x 11 paper (one-sided, preferably)

  • Enter date(s) in the area provided for each or group of expense items (that total to one amount) (See attached sample expense report & receipts)

  • Combining several receipts into one total amount (to be listed on your report)?  Please reference the receipts being added together by either:

    • Denoting the total dollar amount on the individual receipts: (See attached sample expense report & receipts)
    • Denoting the expense total with a hand-written letter or number on the expense template, and using that same letter or number to either denote the individual receipts or a group of receipts (organized on the same page).  Please make sure that receipts or group of receipts are clearly denoted when receipts are being combined into one total amount.  (See attached sample expense report & receipts).
  • Not enough room for additional receipts?  You can list additional expenses either by:

    • Utilizing the blank rows under any of the four categories on Page 1 of the Expense Report template
    • Starting a new report