Common use of Conversion Fees Clause in Contracts

Conversion Fees. In the event Client or any of its related entities or affiliates decides to hire directly onto its own payroll or engages as an independent contractor, any Assigned Employee within ninety (90) days after the Assigned Employee is submitted to Client for consideration pursuant to Section 1 of this Agreement (but is not selected for placement), Client shall pay Uniti Med a conversion fee equal to 30% to the Assigned Employee’s new annual salary including bonuses. In the event Client or any of its related entities or affiliates decides to hire directly onto its own payroll within one year of assignment completion, or engages as an independent contractor any assigned employee, Client shall pay Uniti Med a conversion fee equal to 25% of the Assigned Employee’s new annual salary with Client, including bonuses. Uniti Med will prorate 1% of said fee for every week of current assignment completed and client will owe no fee after the completion of a 25-week assignment. a. Notwithstanding any other provision of this Agreement, if Client terminates this Agreement or notifies Uniti Med of its intent to terminate this Agreement, and Client desires to hire directly onto its payroll or engage as an independent contractor any Assigned Employee then assigned to Client, Client must promptly notify Uniti Med in writing, and pay Uniti Med a conversion fee for each such Assigned Employee/the amount Client would have paid Uniti Med had each such Assigned Employee continued to work for Client through Uniti Med for the remainder of their contract at Uniti Med’s billing rate in effect at the time of termination of the Agreement.