Common use of Conversion Requirements Clause in Contracts

Conversion Requirements. Faneuil agrees that it will maintain a check training class completion level of no less than 80% and a conversion rate to full time employees of no less than 60%. Training incentives do not apply to CCS training classes due to the length of training that is typically 5 days or less Penalty & Incentive ● If percentage retained is over 60%, no penalty assessed. ● If percentage retained is between 59.9 and 55%, Faneuil will have penalty of $250 for each person it is below this percentage. ● If percentage retained is between 54.9 and 50%, Faneuil will have penalty of $500 for each person it is below this percentage. ● If percentage retained is between 49.9 and 45%, Faneuil will have penalty of $750 for each person it is below this percentage. ● If percentage retained is between 81 and 89%, Faneuil will receive an incentive of $250 for each person it is above this percentage. ● If percentage retained is over 90%, Faneuil will receive an incentive of $500 for each person it is above this percentage. Termination:

Conversion Requirements. Faneuil agrees that it will maintain a check training class completion level of no less than 80% and a conversion rate to full time employees of no less than 60%. Training incentives do not apply to CCS training classes due to the length of training that is typically 5 days or less Penalty & Incentive ● If percentage retained is over 60%, no penalty assessed. ● If percentage retained is between 59.9 and 55%, Faneuil will have penalty of $250 for each person it is below this percentage. ● If percentage retained is between 54.9 and 50%, Faneuil will have penalty of $500 for each person it is below this percentage. ● If percentage retained is between 49.9 and 45%, Faneuil will have penalty of $750 for each person it is below this percentage. ● If percentage retained is between 81 and 89%, Faneuil will receive an incentive of $250 for each person it is above this percentage. ● If percentage retained is over 90%, Faneuil will receive an incentive of $500 for each person it is above this percentage. Termination:.