Common use of Conversion Terms Clause in Contracts

Conversion Terms. Citizens may decide to hire a Contingent Worker as a Citizens’ employee. If Citizens decides to convert a Contingent Worker, then Citizens shall compensate Vendor as set forth in the schedule below. The conversion fee is based upon the starting base annual salary of the Contingent Worker for the position which they are being hired and will not take into consideration any relocation benefits or other sums. Job Category Calendar Days Worked Conversion Fee Non-exempt as defined by Citizens Position Description 1 – 30 Days 9% conversion fee 31 – 60 Days 7% conversion fee 61 – 90 Days 4% conversion fee 91 Days or more 0% conversion fee Job Category Calendar Days Worked Conversion Fee Exempt as defined by Citizens Position Description 1 – 365 Days Citizens reserves the right to negotiate the conversion fee up to a maximum of 18% conversion fee 366 Days or more 0% conversion fee