THE LAW OFFICES OF DAVID J. STERN, P.A. 401(K) PLAN COST-SHARING AGREEMENT
Exhibit 4.17
THE
LAW OFFICES OF ▇▇▇▇▇ ▇. ▇▇▇▇▇, P.A. 401(K) PLAN
This
Cost-Sharing Agreement (“Agreement”) is made and entered into as of [INSERT DATE], 2010 by
and among, Law Offices of ▇▇▇▇▇ ▇. ▇▇▇▇▇, P.A., a professional association
licensed to practice law in the State of Florida (“Law Firm”), DJS Processing,
LLC, a limited liability company organized under the laws of the State of
Delaware (“DJSP”), Default Servicing, LLC, a limited liability company organized
under the laws of the State of Delaware (“DSI”), Professional Title and Abstract
Company of Florida, LLC, a limited liability company organized under the laws of
the State of Delaware (“PTA”) (DJSP, PTA and DSI are each referred to herein as
the “Newly-Formed LLC”).
WHEREAS, the Newly-Formed LLC
became participating employers in The Law Offices of ▇▇▇▇▇ ▇. ▇▇▇▇▇, P.A. 401(k)
Plan (the “Plan”) on January 15, 2010;
WHEREAS, ▇▇▇▇▇▇▇▇ Benefits,
Inc. (“▇▇▇▇▇▇▇▇”) provides plan compliance, reporting and administrative
services for the Plan;
WHEREAS, notwithstanding any
agreement or understanding (written or oral) to the contrary, Newly-Formed LLC
and the Law Firm desire to share the administrative costs incident to the
maintenance and operation of the Plan that are not otherwise paid by the Plan
(“Plan Cost”).
NOW THEREFORE, in
consideration of the mutual promises and covenants set forth herein, and for
such other good and valuable consideration, the adequacy and receipt of which
are hereby acknowledged, the parties hereto agree as follows:
1. Law
Firm shall invoice Newly-Formed LLC for its portion of the Plan Cost on a
quarterly basis;
2. Plan
Cost shall be allocated based on the number of employees at Newly-Formed LLC and
Law Firm on the date of the invoice;
3. To the
extent ▇▇▇▇▇▇▇▇ indicates on its invoice to Law Firm that a Plan Cost is related
solely to the Law Firm or Newly-Formed, LLC, such cost shall be borne solely by
the entity that incurred such Plan Cost;
4.
Newly-Formed LLC shall pay its respective Plan Cost within ten (10) days
following the receipt of the invoice from the Law Firm;
5.
Newly-Formed LLC shall pay Plan Costs directly to ▇▇▇▇▇▇▇▇ from its own bank
account;
6. If
Newly-Formed LLC disputes the amount invoiced by the Law Firm regarding its
portion of Plan Costs, Newly Formed LLC shall provide written notification of
its objection to the Law Firm within ten (10) days following the receipt of such
invoice. If Newly Formed LLC and Law Firm are unable to agree on the
Plan Cost for Newly-Formed LLC within ten (10) days of the Newly-Formed LLC’s
written objection, the disputed amount shall be submitted to ▇▇▇▇▇▇▇▇. and both
the Law Firm and the Companies agree to be bound by the determination of Plan
Cost by ▇▇▇▇▇▇▇▇.
IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed, all as of the day and year first above written.
LAW
OFFICES OF ▇▇▇▇▇ ▇. ▇▇▇▇▇, P.A.
By:
Name:
Title:
DJS
PROCESSING, LLC
By:
Name:
Title:
PROFESSIONAL
TITLE AND ABSTRACT COMPANY OF FLORIDA, LLC
By:
Name:
Title:
DEFAULT
SERVICING, LLC
By:
Name:
Title: