Business BK EL Template

BUSINESS BK EL TEMPLATE

Parties

Corporation
Limited Liability Company (LLC)
Partnership
Sole Proprietor
Other:

Recitals

WHEREAS, Client Name: is engaged in the operation of a business and seeks professional services related to reorganization or other insolvency proceedings;

WHEREAS, Firm Name: has experience and resources to provide bankruptcy, reorganization and related advisory services to the Client;

WHEREAS, the parties desire to set forth the terms and conditions under which Firm will perform such services and Client will compensate Firm as provided below.

Scope of Work

The Firm will provide legal and advisory services reasonably necessary for the Client's bankruptcy or restructuring matter. Services may include preparation and filing of pleadings, court appearances, negotiation with creditors, asset analysis, debtor-in-possession financing assistance, and related matters as agreed below.

Payment Terms

Client agrees to pay Firm as follows. Fees are earned when incurred and billed in accordance with the schedule below. Client authorizes Firm to apply retainer funds to final invoices for services rendered and expenses incurred.

Term and Termination

This engagement commences on Start Date: and continues until End Date: unless earlier terminated as provided herein. Either party may terminate this Agreement for any reason upon written notice delivered to the other party at least days prior to the effective termination date. Termination does not relieve Client of the obligation to pay for services rendered and expenses incurred through the effective date of termination.

Confidentiality

All information disclosed by Client to Firm that is designated confidential or that reasonably should be understood to be confidential given the nature of the information and the circumstances of disclosure shall be maintained in confidence by Firm, except as required by applicable law, court order, or to perform services under this Agreement. Firm may disclose confidential information to its personnel, consultants, or experts on a need-to-know basis, provided such persons are bound by confidentiality obligations. Confidentiality obligations survive termination of this Agreement for a period of years.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to that State's choice of law principles. Any dispute arising under this Agreement shall be resolved in the state or federal courts located in the selected jurisdiction, unless the parties mutually agree to arbitration.

Entire Agreement

This Agreement, including all exhibits and attachments, constitutes the entire understanding between the parties with respect to the subject matter hereof and supersedes all prior proposals, negotiations, communications and agreements, whether oral or written. Any amendment must be in writing and signed by authorized representatives of both parties.

Additional Provisions

Limitation of Liability: Except for willful misconduct or gross negligence, the total liability of Firm arising out of or related to this Agreement shall not exceed the total fees paid by Client to Firm under this Agreement in the twelve (12) months preceding the claim. This limitation allocates risk between the parties and is reflected in the fees charged.

Authority: Each person signing this Agreement represents and warrants that they have authority to bind the party on whose behalf they sign. Client acknowledges it has the authority to engage Firm and to make decisions on behalf of the entity described above.

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