Limitation on attorneys’ fees.

(a) The amount of the claimant’s attorneys’ fees may not exceed the amounts in the following schedule: (1) 35% of the first $100,000 of damages; (2) 25% of the next $100,000 of damages; (3) 10% of the balance of any awarded damages. (b) Notwithstanding subsection (a) of this section, a claimant has the right to elect to pay for the attorneys’ services on a mutually satisfactory per diem basis. The election, however, must be exercised in written form at the time of employment.