- 10 -
CLIENTS may hold or receive because of damages and
injuries received and sustained by DR. SUDHIR
SRIVASTAVA and DR. ELIZABETH PASCUAL as a result of the
television broadcasts on Channel 5 in February 1985.
* * * * * **
It is further agreed that this Contract does not
include the appeal of any Judgment, and in the event of
an appeal from any Judgment, CLIENTS shall advance the
anticipated costs of appeal and the percentage
contingent fee interest shall be increased from forty
percent (40%) to fifty percent (50%).
Later, while the settlement negotiations were in progress,
Branton & Hall hired Franklin S. Spears (Spears) in an of-
counsel capacity to aid the firm with the appeal of petitioner's
suit. Spears was also paid on a contingency fee basis. Spears'
contract with Branton & Hall provided that he would be paid a
contingency fee of $1,200,000 for the preparation of petitioner's
briefs upon recovery of the total amount of the judgment, and a
proportionally lesser amount if less than the total amount of the
judgment was obtained. In the event of a partial settlement
before the preparation and submission of petitioner's briefs,
Spears would collect an amount determined on a sliding scale for
each $1 million received in settlement.
When the case settled, Spears was paid $92,500 "off the
top"; that is, the fee due Spears was deducted from the
settlement proceeds before calculating the amount due Branton &
Hall. Branton & Hall was paid $3,363,000; 40 percent of the
settlement proceeds reduced by the $92,500 paid to Spears.
Petitioner received the balance of the proceeds, $5,044,500, from
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011