Common use of ALTERNATE ONE Clause in Contracts

ALTERNATE ONE. The fee to be paid will be a percentage of the “gross recovery,” depending on the stages at which settlement or judgment is reached. The term “gross recovery” means the total of all amounts received by settlement, arbitration award or judgment, including any award of lawyer’s fees. The fee will be calculated before the deduction of any costs and expenses as set forth in Paragraph 7, and the costs and expenses will remain the responsibility of Client to be paid from the portion of any amounts received by Client after deduction of the fee. Upon conclusion of the matter, Xxxxxx will provide Client with a written statement stating the outcome of the matter and, if there is a recovery, showing the remittance to Client and the method by which the remittance was calculated.