Priority Engagement Fee Agreement
NextGen DNA (formerly MRI) is hereby authorized to conduct a search for qualified candidates to fill the position of POSITION NAME under the following terms and conditions:
- In the event that COMPANY NAME (hereinafter referred to as CLIENT) retains the services of an individual presented by NextGen DNA the CLIENT will pay to NextGen DNA a TOTAL SERVICE CHARGE OF _________ PERCENT OF THE FIRST YEAR COMPENSATION TO BE EARNED BY THE CANDIDATE. The total service charge is based on the estimated compensation for the position earned by the candidate in the first year of employment. For positions paying commissions, bonuses, or other incentives, as well as salary, the charge is based on a reasonable estimate of the first year's compensation. In arriving at this estimate the candidate's current market worth will weigh heavily as a guide. This estimate is not subject to reduction or increase after the candidate has been employed.
- With the execution of this agreement, CLIENT will pay NextGen DNA an ENGAGEMENT FEE of ______% of the estimated TOTAL SERVICE CHARGE as outlined above.
- The BALANCE is due and payable when the candidate begins employment with the CLIENT. This BALANCE will reflect adjustments to the estimated TOTAL SERVICE CHARGE if actual earnings are to be higher or lower than the original estimate when the search began.
- If NextGen DNA fails to present a candidate who is hired for the position or at least two qualified candidates within 30 days from the date hereof, NextGen DNA shall refund to the CLIENT the full ENGAGEMENT FEE.
- If at least two candidates presented within that 30-day period are interviewed by CLIENT, but CLIENT fills position through its own efforts, THERE WILL BE NO REFUND.
- If NextGen DNA presents at least two qualified candidates within the 30-day period but CLIENT refuses to interview said candidates within the 30-day period, NO PORTION OF THE ENGAGEMENT FEE SHALL BE REFUNDED TO THE CLIENT.
- CLIENT shall reimburse candidates for all reasonable interviewing expenses incurred by any candidate who resides outside of a 50-mile radius of the location where the interview is to be conducted, including but not limited to transportation, food, and lodging.
- CLIENT shall reimburse NextGen DNA on a monthly basis, for all pre-approved, reasonable out-of-pocket expenses incurred by NextGen DNA in a discharge of its search obligations including but not limited to transportation, food and entertainment, and lodging for out-of-town interviews by NextGen DNA of potential candidates, subject to client approval.
- NextGen DNA warrants that should the candidate terminate employment with the CLIENT for any reason within 90 days, NextGen DNA shall present two additional qualified candidates within a successive 90-day period. CLIENT is responsible for expenses only in such an event.
- The CLIENT may cancel this agreement at any time but in such an event shall not be entitled to a refund of the ENGAGEMENT FEE and in the event a candidate already presented in the course of this search is hired, the balance of the TOTAL SERVICE CHARGE will be due and payable when said candidate begins work.