Law Offices of Gregory L. Wasserman Real Estate & Business Counsel

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NOTE: The information set forth below is for discussion purposes only.  Your actual legal fees and the nature and terms of your representation will be determined by and subject to the terms and conditions of your Representation Agreement, which will include certain exclusions, acknowledgements, disclosures and waivers of associated conflicts of interest.  The Firm does not guaranty, warrant or predict the outcome or result of your representation and hereby disclaims any guaranty, warranty or prediction regarding the outcome or result of your representation.   Any attorneys fee related arrangements set forth herein below are subject to change at any time and from time to time.                                           STANDARD LEGAL FEES (2020)                            Greg Wasserman (GLW)                  $465                            Other Senior Attorneys                   $300-$425                            Junior Attorneys                             $225-$325                            Paralegal/Law Clerks                      $95-$165       ALTERNATIVE FEE ARRANGEMENTS AND RELATED CONSIDERATIONS Attorneys typically recommend that prospective clients retain a qualified attorney as soon as   possible when contemplating a complex real estate transaction.  The term sheet/letter of intent, even if non-binding, will frame and provide the foundation for the entire transaction.  However, Mr. Wasserman is also keenly aware that prospective clients often choose to forego representation at this early stage of a transaction to avoid incurring legal expenses on a deal that “may not make”.   To address these competing considerations, and to add value to the process, the Firm may provide up to 3 hours of fully contingent legal time to assist clients with drafting and negotiating Term Sheets and Letters of Intent for complex transactions, as generally set forth and qualified below.   Additionally, the Firm may offer, on a case by case basis for transactions billed on an hourly basis, and at our sole discretion, “Dead Deal” and “Volume” discounts, as generally set forth and qualified below.  Furthermore, the Firm may offer or require, on a case by case basis and as an alternative to hourly billing, the“Success/Contingent Fee Billing Arrangement” or the “Fixed/Flat Fee Billing Arrangement”, as generally set forth and qualified below. PLEASE NOTE: Your Representation Agreement with the Firm, and not this website, will control your billing arrangement with the Firm.   Term Sheet/LOI Contingent Fee:  The Term Sheet/LOI Contingency Fee would provide a client with up to 3 hours of fully contingent legal time for drafting and negotiating Term Sheets and Letters of Intent for complex transactions when applicable hereunder, which time incurred will only be payable by client in the event that the underlying transaction is closed or consummated.   The Term Sheet/LOI Contingency Fee offer will apply at our sole discretion to hourly fee arrangements when the Firm is serving as your primary counsel. The Term Sheet/LOI Contingency Fee arrangement, if applicable, is conditional and will not be available to clients who do not timely pay all amounts owing to the Firm. Dead Deal Discount:  In the event your purchase, sale, development, financing, joint venture and/or leasing transaction does not close for any reason, the Dead Deal Discount, if applicable, would reduce your legal fees otherwise owing to the Firm with respect to such transaction by 20%.  The Dead Deal Discount will apply at our sole discretion to hourly fee arrangements for transaction in which the Firm is serving as your primary counsel, and will not be available to clients who do not timely pay all amounts owing to the Firm.  Additionally, the amount of the Dead Deal Discount will take into account and be offset by the application of the Term Sheet/LOI Contingency Fee, if applicable. Volume Discount:  In the event that the total number of attorney hours incurred by the Firm in a given calendar month on your purchase, sale, development, financing, joint venture and/or leasing transaction exceeds 25 hours, then if the Volume Discount applies, any additional attorney hours incurred by us in such month on the subject transaction shall be reduced by 10%.  The Volume Discount would apply to hourly fee arrangements for transactions in which the Firm is serving as your primary counsel, and will not be available to clients who do not timely pay all amounts owing to the Firm.  Additionally, the Volume Discount will not apply to a given transaction if the Dead Deal Discount has been applied to such transaction. Success/Contingent Fee Billing Arrangement:  If applicable, the Success/Contingent Fee Billing Arrangement would protect the client from incurring significant legal fees for transactions that do not close. Pursuant to this arrangement, which will be entered into at the sole discretion of the Firm, a modest fixed fee will be collected at the onset of the representation and/or hourly fees will be discounted.  The balance of the legal fees with respect to the representation would be in the form of a contingent payment that only becomes payable if the client enters into the subject transaction.  The size and nature of the contingent payment will be dependent upon the underlying transaction and the associated legal work, and will take the form of a fixed amount and/or a percentage interest due upon consummation of the underlying transaction.   Fixed/Flat Fee Billing Arrangement:  The Firm may enter into a Fixed/Flat Fee Billing Arrangement for routine matters and ongoing representation(s) that are similar in nature and character provided that the associated legal work is reasonably predictable.  This may include landlord leasing transactions, acquisitions and/or dispositions for the same product type, financings with the same lender for the same product type, programmatic entity documents, etc.   The firm will also consider engagement on a flat fee basis for single transactions, including single tenant net-leased properties (NNN). PLEASE CONTACT US TO DISCUSS HOW THESE ALTERNATIVE BILLING ARRANGEMENTS CAN BE APPLIED TO YOUR TRANSACTION.