Fee Agreement

Mee Derby offers both contingent and retained search.

Sample Contingent Search Fee Agreement

Introduction

Mee Derby & Company Incorporated (Mee Derby) will refer candidates to Name of Company (Client). Any referral made by Mee Derby will be considered effective for a period of 12 months. A placement/consulting fee is charged if Client, its divisions, subsidiaries or affiliates engage the services in any capacity of a candidate submitted within 12 months of referral to Client by Mee Derby.

Mee Derby adheres to an equal employment opportunity policy. All applicants are referred based on their qualifications only, without regard for their race, gender, sex, age, religion, national origin, sexual orientation, marital status, veteran status or disability.

Resumes submitted to your company by Mee Derby contain information furnished by individual candidates. While Mee Derby conducts reference checks, Client acknowledges that all information on resumes has not been independently verified by Mee Derby. All final reference checks and other background information verifications, unless otherwise specified, are the responsibility of the Client.

Terms of Payment

Full payment is due within 10 calendar days from referral’s start date (the first day of work for your company) to initiate the guarantee period. Otherwise, all payments are due within 30 days of the billing date. A finance charge of 1.5% per month will be added to all balances unpaid after 30 days.

Guarantee Period

We appreciate that it is sometimes difficult to determine if someone is truly qualified for a specific position in a few interviews. Mee Derby offers the following 90-calendar-day guarantee period if your payment is received within 10 calendar days of the start date. There is no guarantee when payment is received after 10 calendar days. Should a falloff occur for any reason during the first 90 calendar days, Mee Derby will refund a portion of the fee based on the following schedule:

01-30 days: refund 75% of fee
31-60 days: refund 50% of fee
61-90 days: refund 25% of fee
(Guarantee period begins on start date.)

Search Fee

The placement fee is twenty-seven percent (27%) of guaranteed first-year earnings, which includes base salary, draw, guarantee and signing bonus. For example, if base salary were $100,000 plus $20,000 draw, the fee would be 27% of $120,000, which equals $32,400.

Contract Hire Fee

If Mee Derby refers a candidate to your company and you want to hire that candidate in a temporary or contract capacity, Mee Derby will charge 27%, billed weekly, on top of the pay rate paid directly by your company to the candidate. The contract payment will be applied to the search fee and time work applied to the guarantee.

 

Sample Retained Search Fee Agreement

Introduction

The RETAINER FEE for this search is 1/3 of the estimated total fee. A projected salary will be agreed upon, and the retainer fee determined and paid to Mee Derby to initiate the search. The retainer fee is non-refundable. The balance of the fee would be due 15 calendar-days after the hired candidates start date (the first day of work for your company) to initiate the guarantee period.

Fees

The total fee for our retained service is 30% of candidate’s guaranteed first-year earnings, inclusive of draw, guarantee and signing bonus.

Guarantee Period

We appreciate that it is sometimes difficult to determine if someone is truly qualified for a specific position in a few interviews. Mee Derby offers the following 90-calendar-day guarantee period if your payment is received within 15 calendar days of the start date. There is no guarantee when payment is received after 15 calendar days. Should a falloff occur for any reason during the first 90 calendar days, Mee Derby will refund a portion of the fee based on the following schedule:

01-30 days: refund 100% of the non-retained fee
31-60 days: refund 50% of the non-retained fee
61-90 days: refund 25% of the non-retained fee
(Guarantee period begins on start date.)

Agreement

Mee Derby & Company Incorporated (Mee Derby) will refer candidates to ________ (Client). Any referral made by Mee Derby will be considered effective for a period of 12 months. A placement/consulting fee is charged if Client, its divisions, subsidiaries or affiliates engage the services in any capacity of a candidate submitted within 12 months of referral to Client by Mee Derby.

Mee Derby adheres to an equal employment opportunity policy. All applicants are referred based on their qualifications only, without regard for their race, gender, sex, age, religion, national origin, sexual orientation, marital status, veteran status or disability.

Resumes submitted to your company by Mee Derby contain information furnished by individual candidates. While Mee Derby conducts reference checks, Client acknowledges that all information on resumes has not been independently verified by Mee Derby. All final reference checks and other background information verifications, unless otherwise specified, are the responsibility of the Client.

Contract Hire Fee

If Mee Derby refers a candidate to your company and you want to hire that candidate in a temporary or contract capacity, Mee Derby will charge 30%, billed weekly, on top of the pay rate paid directly by your company to the candidate. The contract payment will be applied to the search fee and time work applied to the guarantee.

 

Need more information about our other fee agreements for outsourced recruiting and consulting?

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