This agreement, dated ______________________, 20____, sets forth the working relationship between ___________________ and the Underwood Law Firm (hereon known as "the Firm") for purposes of legal debt collections and all other legal services provided by the Firm.

Contingency Rates

For all debt collection claims placed by ______________________ and collected through our office, the Firm shall receive  a percentage of collected debts, applied at the following rates:

* Claims $3000.00 and under:  35%
* Claims over $3000.00:          30%

The above rates apply whether or not ____________________ elects to file suit on any claim. For any claim placed with the Firm where it is necessary to forward the claim to an outside attorney, an additional 10% of the claim amount will be assessed for claim monitoring and management.

* Rates are negotiable based on volume and type of collection matter.

Hourly Rates:

Where legal work billed on an hourly basis is required, the following rates shall apply:

* Blended work (time spent by paralegal and other staff):  $95.00 / hr.
* Associate attorney work: $125.00 / hr.
* Work by Gary R. Underwood: $175.00 / hr.

No additional charges will apply for any legal matters in which debtors live outside of the Firm's service area.

Lawsuit and Post - Judgment Costs:

Unless specified otherwise and agreed to in advance, all claims placed with the Firm will be charged a flat $200.00 costs fee to cover various costs, of which the most common are outlined below:

At no time does payment of the costs fee indicate that all expenses listed above are covered in said costs fee nor do all of the above-listed costs represent all possible expenses. Due to the unpredictable nature of lawsuits, there are times additional costs are necessary to pursue collection efforts which will exceed the initial costs. Depending on the status of the claim, accumulated costs which exceed the costs fee will be:

1)  requested by the Firm to continue collection efforts, or
2)  subtracted out of net proceeds, after Firm's commissions are applied, from debtor payments on each respective     claim.

Status Report:

Various steps in the collections process will automatically generate status reports and requests to __________________ on each claim. In addition, the Firm will also provide status reports on each claim placed with our office by requests. All requests for information can be made via written requests, calls to our office (by an authorized representative) of _____________________, or email. Please refer to the heading of this agreement letter for information on how to contact our office.

This agreement can be terminated by either _____________________ or by the Firm at any time for any reason. Notification of tremination of this agreement must be made in writing forty-five (45) days prior to termination. The Firm shall incur no liability for any claims closed by our office per request by _____________________, either in event of any specific claims closed per request by ______________________ or by termination of this agreement by _____________________.

Signed and dated this day, ___________________________________, 20_____.