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Terms & Conditions

Basic Fee
For any individual identified/recruited with the assistance of EDDISON FIELDS, EDDISON FIELDS  charges a fee of 30% of "Total First Year Compensation". Total First Year Compensation includes the first year’s cash compensation, whether actually paid in the first 12 months or "accrued" toward the following bonus period, as well as any extra or deferred compensation items such as superannuation, salary sacrificed items, equity grants and/or options. We charge fees for any individuals whom we introduce or identify in our written market overview materials, and whom our client hires within 12 months of introduction, whether in the role as originally defined or any other position.

Retainer
In order to cover our time as an assignment progresses, we charge a Retainer (determined on a search-by-search basis) invoiced in two installments: at the inception of the search and at Final Selection. Invoices are due and payable upon receipt. The Retainer constitutes our minimum fee for conducting the search. The Retainer payments are fully applied against the final fee when the successful candidate is hired. We will reconcile our billings at the conclusion of the search and send the client a final invoice to the extent that the final fee exceeds the Retainer.

Expenses
Direct out-of- pocket expenses, such as assignment-related travel, video-conferencing and entertainment expenses, will be charged at cost. Interstate and overseas travel expenses will not be incurred without prior consultation with you.

Goods and Services Tax
All services provided by EDDISON FIELDS  will attract VAT, currently set at 20%. All billings will be provided to you in the form of a Tax Invoice, which will quote our VAT no and will enable you to claim input tax credits should you be eligible.

Cancellation
We recognise that a client’s recruiting needs may change. Therefore, our client is free to cancel the search at any point. If the search is cancelled, the client will be obliged to pay EDDISON FIELDS only for those Retainer installments and expenses actually billed, and for out-of-pocket expenses incurred but not yet billed such as candidate and/or consultant travel expenses. EDDISON FIELDS may, at its discretion, cancel a search if our client acquires another firm, is itself acquired, or is subject to a major restructuring or change of ownership.

Final Fee
Upon completing a search, we usually determine the final fee immediately. The fee will be based on a reasonable expectation of annualised compensation, e.g. benchmarks set during negotiations, Target Bonus and compensation information in the market, etc. Occasionally clients ask us not to determine the final fee immediately upon completion of the search, usually because a reasonable prediction of the successful candidate’s total compensation is particularly difficult to make. If the client prefers, in these cases we can bill our fee in two steps: a first invoice based on salary plus whatever compensation numbers are guaranteed in the offer letter; and a second, incremental invoice sent after the next bonus cycle, once exact bonus numbers are determined.

Additional Hires
Should our client hire more than one candidate during the search or within 12 months of its conclusion, whether for the original position or for a different position, EDDISON FIELDS will charge 20% of Total First Year Compensation for any additional candidates hired.

"Carve Outs"
We do not seek to engage in projects that "compete" with clients. If prior to retaining EDDISON FIELDS a client is already holding direct discussions with candidate(s), the client may, at its discretion, choose to "carve out" these candidates from the search process. (These candidates would then normally be excluded from discussions with us and from our fee arrangements should one or more of them be hired.) We would expect the "carve outs" to be identified before we are retained. Once the search begins all other candidates whether originally identified/contacted by EDDISON FIELDS, the client or other methods will be considered part of the Search "pool". These candidates should be passed on to us for evaluation, referencing, and introduction, if appropriate. EDDISON FIELDS full fees will apply if any of these individuals is hired.

Candidate Departure

If a successful candidate recruited with our assistance leaves our client’s firm within twelve months, we will re-open the assignment, charging expenses only, provided that:
  • The individual’s departure was not due to the sale of the firm (or acquisition of another firm, substantial restructuring or material change of ownership, etc.)
  • The individual’s departure was not due to our client exiting a crucial business area.
  • The individual’s departure was not due to a significant change in the job specification, or because of misleading representations with respect to the position, its duties, budget, etc., or because of significant changes in reporting relationships, etc.
  • The individual’s departure was not due to serious illness or death.
In general, this provision is meant to apply only to situations in which the individual is terminated as a result of incompetence, or gross negligence in the performance of his or her job-related duties.

Off-Limits
We will not recruit our placement while he or she is still employed by the original client. We will not recruit the managers of the placement and the direct reports to the placement for a period of one year unless an exception applies. Exceptions to this policy include instances where this agreement is cancelled, a client ceases to exist, does not pay our fees and/or expenses, authorises an exception, violates this agreement, or has significant change in ownership or structure; and client executives who, with the client’s knowledge, are seeking other employment opportunities.

EEO
EDDISON FIELDS is committed to the principles of equal employment opportunity for both itself and its clients. We do not discriminate against prospects for employment because of race, colour, religion, gender, national origin, veteran status, disability, age, citizenship, marital status, sexual orientation, or because of any other criteria prohibited under applicable federal, state or local law. Accordingly, we will introduce prospects to our clients solely on the basis of individual merit and achievement.

General

Failure of either EDDISON FIELDS or the client to adhere to these Terms and Conditions will render the Search Agreement null and void.