Contingency Fee In Law In Cook

• Category: Attorneys - Fee Agreements
• State: Multi-State
• County: Cook
• Control #: US-00442BG
• Format: Word; Rich Text

Description

The Contingency Fee Agreement with an Attorney or Law Firm outlines the terms under which a client hires attorneys to represent them in a legal claim, specifically for wrongful termination. The agreement stipulates that the client will pay a percentage of the net recovery to the attorneys based on the outcome of the case, whether settled out of court, resolved by trial, or after appeal. It also details the allocation of costs and expenses incurred by the attorneys, which the client agrees to reimburse. Attorneys are granted a lien on any sums recovered, ensuring they receive their fees and costs from any settlements or judgments. The document highlights the roles of expert witnesses and associate counsel, specifying that fees may be advanced by the attorneys and later reimbursed by the client. Additionally, it addresses the process for the withdrawal or discharge of attorneys and clarifies that attorneys make no guarantees regarding the outcome of the case. This form is crucial for attorneys, partners, owners, associates, paralegals, and legal assistants who require clear guidelines for managing compensation agreements with clients, ensuring legal compliance, and establishing professional expectations.