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NFL Updated Regarding the 5% Holdback Notice

This past Monday, all former NFL players received a notice from the court regarding the opportunity to object to the petition for Attorneys’ fees, costs and holdbacks on awards.  We wanted to make sure that clients of Locks Law Firm knew that this 5% holdback (“…to provide future common benefit fees for attorneys who do work to facilitate the Settlement…”) is NOT in addition to the retainer fees.  As you should know, our retainer agreement with you is 20%.  The 5% would come out of the 20% already allocated in the retainer agreement.  In essence, if the court approves this fee, it means Locks Law Firm will get less money, not you.