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OF <br /> BRIGGS -xn MORGAN <br /> • <br /> In addition, as I explained to you at our meeting, <br /> our billing rates for professional services have increased <br /> substantially since we entered into our fee arrangement <br /> in May of 1985. At that time, our hourly rate for govern- <br /> mental entities and institutions was between $70 and $85 <br /> per hour. Most new matters for governmental entities and <br /> institutions that we now take on are billed at between <br /> $100 and $110 per hour. Similarly, the hourly rates that <br /> we charge our corporate clients have. risen substantially. <br /> I normally bill corporate clients between $120 and $140 <br /> per hour and John Van de North bills corporate clients <br /> between $140 and $160 per hour. <br /> Since our original fee agreement left open the <br /> question of fees if damages exceeded $200, 000, I believe <br /> it is appropriate to reach a new agreement in light of <br /> present circumstances. Our present fee agreement calls <br /> for an hourly rate of $60 per hour, plus 25% of any recovery <br /> up to $200, 000. The May 1985 agreement provided that the <br /> City and Briggs and Morgan . would negotiate a new fee agree- <br /> ment if it appeared that damages would exceed $200, 000. <br /> Therefore, I suggest' the following modification of our <br /> original fee agreement: <br /> 2 <br />