Business Protection Rider for Gold Plan Members- $10/month (2 year coverage)

Business Protection Rider

Costs: Gold Plan membership plus $10/month

Collection Matters

25% first $2,000, 18% for balance

Maximum Fee – Attorney Services

$200/hr

Incorporation – Corporation or P.C.

$385

Purchase or Sale of Business

greater of $660 or 3% of business value

Shareholders Agreement

$745

Partnership Agreement

$745

Employment Contract

$165

In consideration of the payment of the sum of one hundred twenty dollars ($120) per year, Covered Individual is entitled to the following benefits in relation to business or professional matters. The Business Protection Rider may be added at any time by the Covered Participant. However, there shall be no proration of the additional fee where the Business Protection Rider is added during the Covered Participant’s Plan year. The Business Rider may be purchased by calling the Administrator at 866-577-7770. [Note: Free document review, consultation coupons, legal letters and telephone calls described in the Legal Benefits section of this Certificate do not apply to this rider.]


1.      Collection Matters – Attorney’s services in relation to business collection matters shall be provided on a reduced sliding scale, applicable to debts evidenced by proper written documentation.

a.       25% of first $2000 recovered ($25 minimum)

b.      18% of balance recovered

2.      Attorney Services – Attorney services for most business matters are covered and shall be provided at the reduced rate of two hundred dollars ($200) per hour.

3.      Maximum Fees – The following are subject not only to reduced hourly rates, but also to maximum fees for services rendered, regardless of time spent on the matter. All of the following rates exclude court costs and trial fees.

a.       Incorporation – Preparation and filing of Certificate of Incorporation and preparation of initial corporate minutes

Maximum fee………………………………………………………………………………………………….. $385

 

b.      Preparation of Contract and Closing of Title regarding purchase or sale of business, excluding realty

Maximum fee: Sale price up to $60,000……………………………………………………………… $660

Sale price above $60,000…………………………………………………………………… 3% of sale price

c.       Preparation of Shareholders Agreement (3 Shareholders or less, excludes negotiation)

Maximum fee………………………………………………………………………………………………….. $745

 

d.      Preparation of Partnership Agreement (3 Partners or less, excludes negotiation)

Maximum fee………………………………………………………………………………………………….. $745

 

e.       Review and legal analysis of Covered Business employment contract with employees (excludes collective bargaining agreements)…………………………………………………………………………………….. $165

 

f.       Per diem trial – The reduced rate of two hundred twenty-five dollars ($225) per hour applies to attorneys’ services in relation to court proceedings pertaining to business and/or professional matters.

 

4.      Bankruptcy and Chapter 11 Advice – Attorneys will provide analysis and advice on the topic of Bankruptcy and Chapter 11 or other alternatives at the reduced rate of two hundred dollars ($200) per hour.

5.      Business Protection Rider Exclusions – The following types of matters are specifically excluded and no Covered Individual shall be entitled to receive any Plan benefits with regard thereto:

a.       Fines, court costs, penalties, Expert Witness fees, disbursements, telephone, postage, photocopying and other related expenses.

b.      Any matter not governed by the law of the United States, the Domiciliary State of Covered Individual or a subdivision of said State.

c.       Any legal service where the attorney is to be paid by contingent fee (except collection matters, which are specifically covered) or where the fee is provided by statute from any fund or where the Covered Individual’s legal fees are paid or payable by a party other than the Covered Individual.

d.      Any matter where the covered business has a right to defense or other legal representation through any policy of insurance or any other arrangement providing legal services to the Covered Individual.

e.       Filing of bankruptcy papers.

f.       Preparation, filing and advice in connection with tax returns and tax matters.

g.      Any matter related to federal, state, county or municipal filings, mergers, acquisitions, consolidations, reorganizations, mining, water, purchase or sale of real property, tax matters, immigration, patent, trademark, copyright, Admiralty Law, Federal Employees’ Liability Act, problems relating to the laws of international trade or of a foreign government, and corporate securities work subject to S.E.C. and certain state rules and regulations, pension and profit sharing.