Common use of Placement Services Clause in Contracts

Placement Services. In the event that ▇▇▇▇▇▇▇▇ refers a potential employee to the Company in response to a written request from the Company for such referral and that individual is hired, ▇▇▇▇▇▇▇▇ shall receive a fee equal to twenty percent (20%) of the employee’s starting annual base salary and target annual bonus. This fee is due and owing whether an individual is hired, directly or indirectly on a permanent basis or on a contract or consulting basis by the Company, as a result of ▇▇▇▇▇▇▇▇’▇ efforts within one (1) year of the date such applicant is submitted by ▇▇▇▇▇▇▇▇ to the Company. Fifty percent (50%) of such payment is due within thirty (30) days of the employee’s start date, and the other fifty percent (50%) of such payment is due six (6) months after the employee’s start date, but only if such employee remains employed by the Company at that time.