How do I create a collide able, respawning powerup to temporarily increase speed?

This is using the Third Person Movement game template if that helps with anything.

Basically, I am looking for help in creating an object that, when picked up, goes away and causes the player to gain increased movement speed for a limited amount of time. At the same time, the powerup will respawn (so in case the player fails the section they will be able to retry it). Thank you very much!