English to Portuguese Law/Patents Law: Contract(s)

This is part of an engagement letter sent from one company to another.

Further to our recent discussions, I write to set out the terms of engagement of ou law firm to act on behalf of Company in connection with the acquisition of the Block leading to the indirect acquisition of a twenty per cent (20%) participating interest in the Block in Angola.

In connection with this matter, it is agreed that we will be provided with a retainer fee of US$XXX immediately upon commencement of work. Such retainer will be deposited in the firm's client account and will be applied toward the fees and costs incurred in this matter. We will bill against the retainer on a monthly basis and you will receive a detailed statement from us. Should we come within 80% of our retainer, we will notify you and should you wish our legal services to continue, we will receive a further retainer fee in an amount to be agreed at that time. You will be billed for any fees and costs that exceed the retainer. Upon completion of our representation, we will send you a final statement for our services and any disbursements relating to these services and you agree that we will credit the amount of any related retainer or advanced payments of fees we are holding at such time against the final statement. Any amounts of the related retainer in excess of the final statement will be refunded to you.