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3. Conflicts The firm represents many different clients on a wide variety of legal matters. The firm wishes to be able to consider the representation of other persons who may be competitors in your industry, or who may have interests that are potentially adverse to yours, but with respect to matters that are unrelated in any way to our representation of you. The ethics that govern us permit us to accept such multiple representations, assuming certain requirements are met. Other than as consented to by you in writing, during the term of this engagement, we agree that we will not accept representation of another client to pursue interests that are directly adverse to your interests. 4. Fees Fees for services rendered will be consistent with the New York State Bar Association Rules of Professional Conduct contained in Part 1200 of Title 22 of the New York Codes, Rules and Regulations. Such fees will be based primarily on hourly attorney billing rates which differ depending generally on the attorney’s experience and years of practice. The firm adjusts hourly billing rates periodically to reflect current levels of legal experience, changes in our operating costs and other factors. The firm may also adjust the charges upward, based on other factors such as the novelty or complexity of the issues and problems encountered, the extent of the responsibility involved, assumed or undertaken, the result achieved (i.e., the benefit to the client), the customary fees for similar legal services, the time constraints imposed upon us by the client for the completion of the work or representation, and other customary factors or circumstances. Although the firm may, from time to time, for a client’s convenience, furnish estimates of fees or costs that we anticipate will be incurred, these estimates are subject to unforeseen circumstances and developments, and are not binding on the firm. The time for which a client will be charged includes, without limitation, telephone and office conferences with a client, other attorneys, witnesses, expert witnesses, consultants, service providers, investigators, court personnel, and others, conferences among our legal personnel, factual investigation, legal research, responding to clients’ inquiries, responding to clients’ requests for us to provide information to their auditors or accountants in connection with reviews or audits of financial statements, drafting of letters, pleadings, subpoenas, affidavits, notices, demands, briefs, memoranda of law, or other documents, travel time, waiting time in court, time in court or in trial, hearings, mediations, arbitrations, or arguing appeals, and time in depositions or other discovery proceedings, including but not limited to inspections of documents. In an effort to reduce legal fees, work will be assigned to attorneys or paralegals with lower billing rates where appropriate and consistent with proper representation. 5. Invoices Except as otherwise agreed in writing, invoices are typically rendered monthly to reflect work performed in the previous month, as well as disbursements and expenses incurred on your behalf or in the ordinary course of the representation.