Yet another version. A character has five boxes, labelled 
"Scratch Scratch Scratch Injury Injury". The "first" box is on the
left (a Scratch) and the "last" box is on the right (an Injury).
When all the Scratch boxes are checked, the character suffers 
a -1 penalty to physical rolls. In addition, the character suffers an
-1 penalty per Injury box checked. If the character needs to check
another box when all their boxes are checked, they're incapacitated.

At the end of a fight, all Scratch boxes are unchecked; Injury boxes
take longer to heal.

The risk factors look like this:

Terrible: If none of the scratch boxes are checked, check the first
Poor: If the first box isn't checked, check it; otherwise if the
      first unchecked box is the third or less check it; otherwise
      do nothing
Mediocre: If any of the first two boxes aren't checked, check them;
          otherwise if the first unchecked box is the fourth or less,
          check it; otherwise nothing
Fair: If any of the first three boxes aren't checked, check them;
      otherwise if the first unchecked box is the fifth or less, check
      it; otherwise nothing
Good: first four
Great: first five
Superb: first six (or incapacitate)

Degrees to bonuses: 0, 1-2, 3-4, 5-6, 7-8, 9+

Round 1: Meg Good, Claude Great    (Claude bonus: +1)
Round 2: Meg Good, Claude Superb+1 (Claude bonus: +2)
Round 3: Meg Mediocre, Claude Superb+2 (Claude bonus: +3)
Round 4: Meg Fair, Claude Great (Claude cashes; Meg goes to -2)
Round 5: Meg Fair, Claude Superb (Claude bonus: +2)
Round 6: Meg Superb+1, Claude Great (Meg bonus: +1)
Round 7: Meg Fair, Claude Poor (Meg bonus: +1)
Round 8: Meg Good, Claude Superb+1 (Claude bonus: +2)
Round 9: Meg Mediocre, Claude Superb (Claude bonus: +2)
Round 10: (Claude raises by 1) Meg Mediocre, Claude Fair (Claude
           cashes: Meg goes to -3)
Round 11: Meg Mediocre, Claude Poor (Meg's bonus: +1)
Round 12: Meg Good, Claude Good (Meg's bonus: +1)
Round 13: Meg Great, Claude Good (Meg's bonus: +1)
Round 14: Meg Good, Claude Fair (Meg's bonus: +1)

You can increase your personal risk level by one in exchange for a +2
to your roll this round only (or, rather, you say "I'm raising by X", and
they can choose to match or not match, and you get a -1 or a +2 per). 

Round 1: (Meg raises by 2, not matched) Meg Superb+5, Boffo Great
         (Meg's bonus: +3)
Round 2: Meg Superb+5, Boffo Mediocre (Meg's bonus: +4)
Round 3: (Meg raises by 1, not matched) Meg Superb+4, Boffo Poor
         (Meg cashes: Boffo goes to -3)
Round 4: Meg Great, Boffo Poor (Meg's bonus: +2)
Round 5: Meg Superb+1, Boffo Terrible-2 (Meg's bonus: +4)
Round 6: Meg Superb+1, Boffo Poor (Meg cashes: Boffo is out)