Professionally edit 3 video talks/panel discussions into shortened versions

For a client of mine, I need 3 videos shortened to 3 minutes each. Each video is nearly an hour long. The project includes:
1. Understanding the content
2. Creating a shortened version storyline
3. Editing the video to fit the storyine
4. Adding appropriate text throughout the video as appropriate and credits at the start and finish

I have a timeline of 10 total days for all 3 videos and a budget of USD 50 per video. I will like to start with one video first before going for the other two.