GA ADVISORY & VALUATION SERVICES, LLC
GENERAL TERMS AND CONDITIONS - FAMILY LAW
GA ADVISORY & VALUATION
SERVICES, LLC
GENERAL TERMS AND CONDITIONS -
FAMILY LAW
These General Terms and Conditions (these "Terms") are hereby incorporated
into the letter Agreement to which they are attached (together, this "Agreement")
and shall prevail in the event of conflict between the letter Agreement and
these Terms. Capitalized terms not defined in these Terms shall have the
meaning set forth in the letter Agreement.
Section 1. Billing. All amounts
invoiced are not contingent upon the outcome of any case or matter or the
analytical conclusions set forth in any reports, opinions, schedules, or other
work product. GA's fees are exclusive of taxes and similar charges.
Section 2.
Relationship of the Parties. The parties intend that an independent contractor relationship will be
created by this Agreement; nothing in this Agreement is intended, or shall be
deemed or construed, to create a fiduciary or agency relationship between GA,
Counsel, and the Client or their
respective directors.
Section 3.
Confidentiality.
GA shall use
reasonable efforts to protect and keep confidential (i) information identified
as confidential provided during the course of the engagement that is not
available from any other source, and (ii) information that is classified as
confidential or private by applicable law or regulation ("Confidential
Information"). By signing this Agreement, Counsel and the Client
authorize GA to disclose Confidential Information that GA reasonably believes
is required by law or any regulatory requirement or authority, to clear client
conflicts and to its affiliates and its and their respective directors,
officers, members, managers, agents, employees, representatives, independent
contractors, consultants, advisors, professionals, successors and assigns ("Representatives")
in
connection with the performance of GA's obligations and assignments under this
Agreement. GA's
obligations under this Section 3 shall survive for a period of one (1) year
from the date of this Agreement. To the extent that
the parties have entered into a separate confidentiality agreement or
non-disclosure agreement, the terms of such agreement shall control.
Counsel
and the Client acknowledge that the report and any memos, data, valuations, or
other documents prepared by GA ("GA Work Product"), and the terms of this
Agreement, are confidential, and all information generated by GA during this
engagement is intended solely for the benefit and use of Counsel and the
Client. No other party may rely on the GA Work Product and no such information
shall be used for any purpose other than as set forth in the Agreement without
GA's prior written approval.
Section 4.
Framework of the Engagement; No Attest
or Public Accounting Services. Counsel and the Client
acknowledge that it is retaining GA solely to provide the Services described in
this Agreement. The Services provided under this Agreement consist solely of
valuation, financial advisory, forensic, litigation support, transaction
support, consulting, analytical, administrative, and other non-attest services.
GA is not engaged as an independent auditor, certified public accountant,
or public accounting firm in connection with this engagement and
will not perform any audit, review, compilation, examination,
agreed-upon procedures engagement, or other service requiring the
provision of assurance regarding financial information.
GA may analyze financial information, accounting records, business
operations, damages, valuation matters, transaction-related matters, fraud
indicators, and other financial or business information, and may
prepare reports, models, analyses, valuations, opinions, conclusions, expert
reports, presentations, and similar work product. Such activities are performed
solely in connection with the Services and are not intended to
constitute, and shall not be construed as, an audit, review, compilation,
examination, or any engagement in which GA is asked to independently verify,
validate, or provide assurance regarding financial information.
Any analyses, valuations,
reports, opinions, conclusions, or other deliverables prepared
by GA are based on information provided by the Client and other sources
deemed relevant by GA. Unless expressly stated otherwise, GA does not independently
verify such information. No deliverable shall be construed as an audit opinion,
certification, or other assurance regarding the accuracy, completeness,
fairness, or conformity of any financial information with GAAP or
other accounting standards, and such deliverables should not be relied upon as
audited, reviewed, compiled, certified, or otherwise assured financial
information.
Certain personnel performing the Services may hold CPA licenses or other
accounting credentials. Such credentials do not alter the nature or scope
of the Services, and no Service or deliverable shall be deemed
a public accounting, audit, review, compilation, examination,
or assurance engagement solely because a licensed accountant
participates in the engagement.
To the extent the Client requires audit, review,
compilation, assurance, tax compliance, tax representation, or other
services requiring CPA licensure or engagement by a licensed public accounting
firm, such services must be obtained pursuant to a separate engagement with an
appropriately licensed provider.
Counsel and the Client acknowledge that, by its very nature, litigation
support work cannot be regarded as an exact science and the conclusions arrived
at in many cases will, of necessity, be subjective and dependent on the
exercise of individual and subjective judgment.
The accuracy of the Services and any GA Work Product will be based on the
information that GA receives from the Client. GA will rely upon any data
and documents provided by the Client without independent verification or
confirmation thereof. In performing its services, GA will assume that all
information provided by the Client is complete and accurate and GA makes no
representations with respect to the accuracy or completeness of any information
provided by and on behalf of the Client. GA assumes no responsibility to the
extent that such information is incorrect, inaccurate or incomplete.
Section 5. Indemnification and
Other Matters. The Client agrees to
indemnify GA and its Representatives (collectively, the "Indemnified GA
Parties"; each an "Indemnified GA Party") and to hold each of them harmless
from and against all claims, demands, costs, expenses, liabilities or damages
(including, without limitation, reasonable attorneys' fees and expenses and
expenses of responding to third party discovery, attending depositions, or
giving expert or other testimony) (collectively "Losses"), asserted against,
resulting from (directly or indirectly), or related to this Agreement, except
solely to the extent that such Losses are found in a final, non-appealable
judgment by a court of competent jurisdiction to have resulted primarily from
GA's gross negligence or willful misconduct.
Section
6. Governing Law and Venue; Dispute
Resolution. This Agreement shall be governed by and construed
in accordance with the laws of the State of California without regard to choice
of law or principles thereof. To the extent allowed by applicable law, any
claims or causes of action arising out of, relating to, or in connection with
this Agreement may only be brought in the state or federal courts located in
Los Angeles County, CA, and the parties agree to submit to the exclusive
personal jurisdiction of such courts. The parties hereby agree that any dispute, claim
or controversy arising out of or relating to this Agreement, or the breach,
termination, enforcement, interpretation or validity thereof, including the
determination of the scope or applicability of this Agreement to arbitrate,
shall be determined by binding arbitration under the Federal Arbitration Act in
the venue stated above, before one arbitrator who is a retired judge. The
arbitration shall be administered by JAMS under its Comprehensive Arbitration
Rules and Procedures and JAMS' Streamlined Arbitration Rules and Procedures.
Judgment on the award may be entered in any court having jurisdiction. The
costs of arbitration, including the arbitrator's fees and administrative
expenses, shall be paid as follows: fifty percent (50%) by the claimant(s) and
fifty percent (50%) by the respondent(s), such that no side shall bear more
than half the costs of the arbitration. The parties agree that discovery shall
be limited to only one deposition on topics that are directly relevant to the
services provided in connection with this Agreement. This clause, however,
shall not preclude the parties from seeking provisional remedies in aid of
arbitration from a court of appropriate jurisdiction.
Section
7. Termination and Survival. This
Agreement may be terminated at any time by written notice by one party to the
other; provided, however, that notwithstanding such termination, GA will be
entitled to prompt payment of any fees and expenses due under this Agreement
(for fixed fee engagements, fees will be pro rata based on the amount of time
spent and work completed). Sections 1, 3, 5, 6, 7, 8, 10, 11, 12
and 13 of these Terms shall survive the expiration or termination of this
Agreement.
Section 8. LIMITATION OF LIABILITY. THE INDEMNIFIED GA PARTIES SHALL NOT BE
LIABLE TO COUNSEL OR THE CLIENT, OR ANY PARTY ASSERTING CLAIMS ON BEHALF OF
COUNSEL OR THE CLIENT EXCEPT FOR DIRECT DAMAGES FOUND IN A FINAL DETERMINATION
TO BE THE DIRECT RESULT OF THE GROSS NEGLIGENCE OR INTENTIONAL MISCONDUCT OF GA
OR ITS PERSONNEL. THE INDEMNIFIED GA PARTIES SHALL NOT BE LIABLE FOR INCIDENTAL, INDIRECT, SPECIAL, PUNITIVE OR CONSEQUENTIAL
DAMAGES (I.E., LOST PROFITS) ARISING
OUT OF, OR IN CONNECTION WITH, THIS AGREEMENT, UNDER ANY CIRCUMSTANCES,
EVEN IF THE INDEMNIFIED GA PARTIES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES. THE INDEMNIFIED GA PARTIES' AGGREGATE LIABILITY, WHETHER IN TORT (INCLUDING NEGLIGENCE), CONTRACT, OR OTHERWISE, IS
LIMITED TO THE AMOUNT OF FEES PAID TO GA FOR SERVICES ON THIS ENGAGEMENT (THE "LIABILITY
CAP"). UNDER NO CIRCUMSTANCES SHALL THE AGGREGATE OF
CLAIMS AGAINST THE INDEMNIFIED GA PARTIES PURSUANT TO THIS AGREEMENT EXCEED THE
LIABILITY CAP. Counsel and
the Client accepts and
acknowledges that any legal proceedings arising from or in connection with this
Agreement (or any variation or addition thereto) must be commenced within one
(1) year from the date of GA's
final invoice with respect to this engagement. Counsel
and the Client agrees to not bring any action or claims relating to
this Agreement against GA's employees personally.
Section
9. [Reserved]
Section
10. Publicity.
Counsel and the Client agree that, when this engagement
is completed, GA will have the right to disclose to any person that it provided
services to Counsel and the Client or its affiliates and a general description
of such services (e.g.,
reproduction of the hyperlink to its website), but shall not provide any other
information about its involvement with Counsel and the Client.
Section 11. Intellectual Property.
GA may use data, software,
designs, utilities, tools, models, systems and other methodologies that it owns
or licenses in preparing reports and performing the services described in this
Agreement. Notwithstanding the delivery of the Report or other GA Work Product, GA shall retain all
intellectual property rights in all such materials and working papers compiled
(including improvements and knowledge gained while performing all services).
Section 12. Representations And Warranties: Each party
represents and warrants that it is not an Excluded Provider. For purposes of
this section, the term "Excluded Provider" means a person or entity that either
(1) has been convicted of a crime related to health care, or (ii) is currently
listed by a federal agency as debarred, excluded or otherwise ineligible for
participation in federally funded programs (including without limitation
federally funded health care programs such as Medicare and Medicaid). Any statements about compliance are based on
the Client's or any relevant third-party representations. Client is responsible for investigating these
compliance matters and making its own determination of their potential
impact(s).
Section
13. HIPAA Requirements. Each party
agrees to comply with the Health Insurance Portability and Accountability Act
of 1996, as codified at 42 U.S.C. ยง 1320d ("HIPAA") and any current and future
regulations promulgated thereunder including without limitation the federal
privacy regulations contained in 45 C.F.R. Parts 160 and 164 (the "Federal
Privacy Regulations"), the federal security standards contained in 45 C.F.R.
Part 142 (the "Federal Security Regulations"), and the federal standards for
electronic transactions contained in 45 C.F.R. Parts 160 and 162, all
collectively referred to herein as "HIPAA Requirements." GA agrees not to use or further disclose any
Protected Health Information (as defined in Federal Privacy Regulations) or
Individually Identifiable Health Information (as defined in 42 U.S.C. Section
1320d), other than as permitted by HIPAA Requirements and the terms of this
Agreement. Each party will make its
internal practices, books, and records relating to the use and disclosure of
Protected Health Information available to the Secretary of Health and Human
Services to the extent required for determining compliance with the Federal
Privacy Regulations. Unless specifically
requested by GA and reasonably necessary in the performance of the Services
hereunder, Counsel and Client agree
not to provide Individually Identifiable Health Information to GA.
Section 14. General. Notices
required or permitted to be
delivered under this Agreement shall be sent: (i) to GA: GA
Advisory & Valuation Services, LLC; 2829 Townsgate Road, Suite 103;
Westlake Village, CA 91361; Attention: General Counsel; Email:
legal@gagroup.com; (ii) to the Counsel or the Client: same address
to which this Agreement is addressed, Attention: General Counsel; and/or (iii)
such other name or address as may be given in writing to the other party. All notices under this Agreement shall be
sufficient only if delivered by overnight mail and deemed to be given only upon
actual receipt. If any portion of this
Agreement is determined to be invalid or unenforceable, the remainder shall
remain in full force and effect, and, to the fullest extent, the provisions of
this Agreement shall be severable. This Agreement, including all exhibits and
schedules (including this Schedule 1), contains the entire understanding
of the parties relating to the services to be rendered by GA and supersedes any
other communications, agreements, understandings, representations, or estimates
among the parties with respect to such services.
No change,
modification or alteration of this Agreement shall be effective unless in
writing and signed by both parties. This
Agreement shall inure to the sole and exclusive benefit of GA, Counsel, the
Client and the Indemnified GA Parties and their respective successors and
representatives. The obligations and liabilities under this Agreement shall be
binding upon GA, Counsel, and the Client. This Agreement
may be executed in two or more counterparts and may be delivered by electronic
mail, each of which shall be deemed to be an original, but all of which shall
constitute one and the same Agreement. No
provision of this Agreement shall be interpreted in favor of, or against, any
of the parties because any party or its counsel participated in the drafting
thereof or by reason of the extent
to which any such provision is
inconsistent with any prior drafts.