Class Action vs. former employer

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dgbldr

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I was contacted by an attorney who has asked me to join a class action suit against my former employer. They are seeking unpaid overtime wages. They sent me a Notice of Consent to Join, Statement of client's rights, and Retainer Agreement. The Retainer Agreement states:

I, ___________________, do hereby retain and employ _____ Law Group, P.A., as my attorneys to represent me in my overtime/minimum wage and other claims against _________________ (the Defendant(s)) and/or any other person, entity or corporation liable or responsible for damages resulting from my employment with Defendant(s).
1. The undersigned client has, before signing this contract, received and read the Statement of Client's Rights and understands each of the rights set forth therein. The undersigned client has signed the Statement and received a signed copy to refer to while being represented by the undersigned attorney(s).
2. In regard to attorney's fees, Shavitz Law Group, P.A. has agreed to accept this case on a contingent basis so that if no recovery is made, there would be no attorney's fees due. I have been told that I will not have to pay _____ Law Group, P.A. attorney's fees if I do not prevail, recover money, or settle the case. I have also been told that I cannot waive or in any way default _____ Law Group, P.A.'s claim for attorney's fees and costs.

3. I understand that if _____ Law Group, P.A. files suit against Defendant(s), it will seek attorney's fees under Federal Statutes and case law against Defendant(s). These fees and costs will be paid by the Defendant(s). I agree that the fees _____ Law Group, P.A. will seek against the individuals and/or entities set forth above will be based upon an hourly rate using the Lodestar
method of calculating court awarded attorney's fees in Florida. In the event a judgment is entered, or Order entered which provides for attorney's fees to be paid to Plaintiff or Plaintiff's counsel, or a Stipulation agreed to by and between the parties which provides for attorney's fees to be paid to
Plaintiff or Plaintiff's counsel or a settlement achieved, _____ Law Group, P.A.'s fees shall be the greater of (i) and (ii):
(i) a reasonable attorney's fee as awarded by the Court pursuant to Section 216(b) of the Fair Labor Standards Act, 29 U.S.C. §201 et seq., or under the Florida or Federal Statute or case law, or as designated pursuant to
settlement, or
(ii) Forty percent (40%) of the total amount recovered on my behalf (including any court awarded attorney's fees).

4. Should a settlement offer be made in which separate fee is not contained in the offer and Defendant offers a lump sum for claims which you decide to accept, then the attorney's fee will be the greater of the amount calculated pursuant to Paragraph 3(ii) above or $325.00 per hour. Under no circumstances will I have to pay any attorney's fees or cost in excess of any settlement offer made.

5. In the event the Court awards _____ Law Group, P.A. fees and/or costs due to discovery abuses by the Defendant or Defendant's counsel, _____ Law Group, P.A. may retain those fees and/or costs from the defense and they will not be a part of this agreement for a set-off from any attorney's fee ultimately recovered.

6. The costs of investigation, expert witness fees, court costs and other costs my counsel incurs shall be paid or charged against any recovery. The costs that shall be charged against the recovery shall be in addition to the fees outlined above.

7. Upon investigation, should my attorney(s) wish at any time to withdraw from this Retainer, they shall have the right to do so. I further agree to keep _____ Law Group, P.A. informed of my whereabouts, and to continually inform _____ Law Group, P.A. of my current mailing address. I understand that if I become unavailable, and _____ Law Group, P.A. cannot
locate me for a period of thirty (30) days, this will mean that I am no longer interested in pursuing my case, and _____ Law Group, P.A. may withdraw from representation.

8. I agree if I decide to terminate this agreement, discharge my counsel and/or chose to no longer pursue my claim, I shall be responsible to _____ Law Group, P.A. for the reasonable value of services performed to date, or the appropriate percentage of the last settlement offer, whichever is greater, plus those costs incurred by _____ Law Group, P.A.

9. The undersigned hereby consents to the referral of these claims by ____________
(Hereinafter "Referral Counsel") to _____receive a quantum meruit percentage of the attorney's fees, which is in proportion to the actual legal
services rendered by the respective law firms to the client with respect to these claims.
The above employment is hereby accepted upon the terms stated therein.
_____________________ _________________________
_____ LAW GROUP, P.A.
_____________________

1.Should I accept these terms?

2. What does "I cannot waive or in any way default _____ Law Group, P.A.'s claim for attorney's fees and costs." mean?
3. Should attorneys fees be the greater of (i) and (ii)? Is this typical?
4. Is "40% of the total amount" too much?
 
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