Employee Placement Contract
This Employee Placement Contract (the "Agreement") is entered into as of January 1, 2050, by and between [Your Company Name], with its principal office at [Your Company Address], and StronkCo, located at Minneapolis, MN 55401. The Parties agree as follows:
I. Purpose and Services
[Your Company Name] will provide recruitment and placement services to StronkCo to source, evaluate, and present candidates for open positions within StronkCo. These services include the identification of qualified candidates, initial screening, and presentation of resumes for StronkCo's review.
StronkCo agrees to provide detailed job descriptions and requirements for each position to be filled to ensure alignment with recruitment efforts.
II. Compensation
Placement Fees
For each successful placement, StronkCo will pay [Your Company Name] a fee equivalent to 20% of the candidate's first-year salary. This fee will be calculated based on the total compensation package offered to the candidate upon hire.
Payment Terms
The fee will be due 30 days from the candidate's start date. Late payments will incur a 1.5% monthly interest charge on the outstanding balance. If StronkCo fails to make timely payment, [Your Company Name] may suspend services until the outstanding balance is paid.
Guarantee
If a candidate leaves or is terminated within 90 days of employment, [Your Company Name] agrees to either replace the candidate at no additional cost or refund a portion of the placement fee.
III. Confidentiality
Both Parties agree to maintain the confidentiality of any proprietary information or trade secrets disclosed during the course of this Agreement. This includes, but is not limited to, financial data, strategic plans, and any personal or sensitive information about candidates.
[Your Company Name] agrees to only share candidate information with StronkCo for the purpose of this Agreement and to protect such information in accordance with applicable laws.
IV. Term and Termination
Agreement Duration
This Agreement will commence on January 1, 2050, and continue in full force until December 31, 2050, unless terminated earlier as provided herein.
Termination Rights
Either Party may terminate this Agreement with 60 days' written notice. Termination may also occur immediately if either Party breaches any material term of this Agreement and fails to cure the breach within 30 days of receiving written notice.
V. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota, without regard to its conflict of laws principles.
VI. Indemnity
Each Party agrees to indemnify and hold harmless the other Party from any claims, damages, or losses arising out of the negligence or willful misconduct of the indemnifying Party.
VII. Entire Agreement
This Agreement constitutes the entire understanding between the Parties with respect to the subject matter herein and supersedes all prior communications, representations, and agreements, whether written or oral.
VIII. Signatures
By signing below, the Parties agree to the terms outlined in this Agreement.
For [Your Company Name]:
Name: [Your Name]
Title: Senior Recruitment Consultant
Email: [Your Email]
Date: January 1, 2050
For StronkCo:
Name: Elvie Block
Title: Vice President, Human Resources
Email: elvie@you.mail
Date: January 1, 2050
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