Retainer Agreement Terms and Conditions
This agreement will confirm that you have asked us to represent you and to advise you on certain legal matters. These terms will apply to all of us unless specifically modified in writing.
The SCOPE OF REPRESENTATION that we will undertake for you includes our agreed upon scope of representation as described in (a) formal retainer agreement, (b) our email agreement on this topic, or (c) the scope described in invoices or billings we send to you.
Our firm does not prepare or give advice regarding financial planning, tax planning, life or disability insurance or annuity products. We will rely upon your advisers in those areas to properly advise you and us concerning those matters. We do not provide investment advice, and you are not to rely on any informal expressions of opinion we may give you regarding any particular investment..
FEES AND COSTS CALCULATION
Our standard hourly rate is $700 per hour. We have indicated preliminary, that our fee for professional services, based on the Scope of Representation will be approximately the amount indicated in (a) formal retainer agreement, (b) our email agreement on this topic, or (c) the scope described in invoices or billings we send to you; however, we reserve the right to adjust the fee if you should decide that you want changes from what we have discussed or if unforeseen conditions require additional work to protect your interests.
Contingency Fee Option:
Based on the nature of your case and your situation, we may agree to represent you with a modified contingency fee basis and fee schedule for us to undertake representation of your matter:
Alternatively, you may choose to retain us on a contingency fee basis. Under this arrangement, our fee will be based on the outcome of your case as follows:
25% of any recovery if the case is settled before filing a lawsuit.
40% of any recovery if a lawsuit is filed.
50% of any recovery if an appeal is filed and you recover any damages or costs.
In this option, no hourly fees will be charged unless specifically agreed upon in writing. You will still be responsible for third-party costs (e.g., filing fees, notary fees, private investigators, copies, transcripts, etc), either by direct payment to the service provider or reimbursement to our firm within fourteen days of disbursement. In the event you disengage with our firm for services, we will be due the amount
ADDITIONAL COSTS
We have discussed that outside fees could be due for filing fees, notary fees, formation fees, private investigators, legal research, registered agent fees, etc. You have agreed that you will pay those fees directly to third-parties or reimburse us if we incur the costs on your behalf. We will then charge you for all costs incurred in connection with our work and those costs are due in the month they are incurred.
RETAINER AND PAYMENT
Please send us a retainer deposit payment in the amount that we have agreed in (a) formal retainer agreement, (b) our email agreement on this topic, or (c) the scope described in invoices or billings we send to you. Retainers and payments will be deposited on your behalf in the firm’s Client Trust Account. You will earn no interest on retainer deposits.
PERIODIC REVIEW
Unless you subsequently instruct us to the contrary in writing, we will have no obligation to keep you informed of changes in the law which may affect you, your partnership, situation or your business entities. If you do so instruct us, we will review your personal and business interests on an annual basis, write to you concerning our review, and bill you according to our standard hourly rates for the review, any subsequent discussions with you concerning it, and the preparation of any documents. If you authorize us to review your file annually, it will be your responsibility to provide us in writing with information concerning any significant changes in your business entities and operations, financial obligations and personal relationships that may impact your business holdings. Unless we receive such information from you prior to our review, we will assume that there have been no such significant changes. If you wish to instruct us at this time to conduct an annual review for you, please notify us. Otherwise, you should contact us periodically to ask for a review; we suggest that you do that every few years or whenever your situation or there are changes with a business entity. We may send you a general reminder letter or a newsletter from time to time, but that will not require us to review your own case individually.
OTHER TERMS
The terms of this agreement shall be binding on and inure to the benefit of (i) you and your heirs, beneficiaries, executors and assigns, and (ii) any successor to this law firm.
In the event we are asked to perform legal services for you not covered by the first paragraph of this letter, the terms set forth in this letter shall apply unless you and this firm otherwise agree in a writing signed by each of us.
Assuming that you are both satisfied with our continuing representation of each of you, and that you are in agreement with our charges for fees and costs as noted above, please sign this letter and return it to us for our files. Of course, you may first wish to consult another attorney to explain this agreement to you and advise you as to whether or not it is fair and reasonable to you.
This agreement will not take effect, and the firm will have no obligation to provide legal services, until you have returned a signed copy of this agreement along with your retainer. This agreement will then be effective retroactively to the date services are first provided. If this agreement does not take effect, you will be obligated to pay the reasonable value of any services performed for you.
Any dispute, claim, or controversy arising out of or relating to this agreement or the attorney-client relationship shall be governed by the laws of the State of California, without regard to its conflict of law provisions. If a court of federal jurisdiction is involved, the substantive law of California shall apply, except where preempted by federal law.
In the event of a dispute between us, you agree to engage in good faith mediation as a first step, for a minimum of three hours, with a mutually agreed upon mediator. If mediation is unsuccessful or the parties are unable to resolve the dispute, the matter shall be submitted to binding arbitration.
You expressly waive the right to have the dispute resolved in a court of law or by a jury trial. Arbitration will be conducted in accordance with the rules and procedures of the American Arbitration Association (AAA). Discovery in arbitration shall be limited to a maximum of three depositions and three witnesses, unless otherwise agreed by the parties or as permitted by the arbitrator upon a showing of good cause.
The arbitration decision will be final and binding on both parties, and judgment on the arbitration award may be entered in any court having jurisdiction over the matter.
Should you have any questions concerning the purpose of this letter or any aspects of it, please feel free to call us at (310) 929-6600.
At the conclusion of your representation, upon your request, we shall return to you the file for this matter, with the exception of any items we are required to maintain by law. If you do not request return of the file, then we shall maintain the file for a period of 1 year after this matter is closed. If you do not request your file within that 1-year period, then we shall have no further obligation to maintain your file, and may, at our discretion, destroy the file without further notice to you.
This agreement is not set by law, it is negotiated between the attorney and client herein.
Contact Us
SML welcomes your questions or comments regarding the Retainer Agreement:
Sterling Media Law 1801 Century Park East Los Angeles, California 90067
Email Address: info@sterlingmedialaw.com
Telephone number: 3109296600
Effective as of October 15, 2024