Retainer Agreement
RETAINER
PROFESSIONAL FEE, EXPENSES, WARRANTY & BILLING PROCEDURES
The Fee for Dennis J. Knox & Company, Inc., services is thirty percent (30%) of the first
year’s total projected compensation, including base salary and reasonably projected
bonus. Amounts of projected earnings during the first year of employment are included,
regardless of any deferral of compensation.
Our fee will be payable in three installments. For billing purposes, the professional fee
(excluding expense items) is initially being estimated on projected base salary and
reasonable projected bonus alone. The estimated professional fee is thirty percent
(30%) of the targeted compensation for this position. Payable as follows:
One-third of projected fee is payable upon acceptance of this agreement.
One-third of projected fee is payable at the end of thirty (30) calendar days.
Final balance, adjusted to actual compensation @ 30% as described above, allowing
credit for the first two installments, is payable sixty (60) days after the candidate
commences employment.
Note: All invoices are due upon receipt.
We will re-compute our final fee based on the actual finalist’s salary and bonuses, if
any, have been confirmed, and an adjusted invoice will be issued net the first two
installments.
Direct out-of-pocket expenses incurred on your behalf will be substantiated and billed
monthly. These costs vary depending upon the scope of an assignment, i.e., its local,
regional or national focus, and include meals and travel-related expenses incurred by
our consultants in connection with interviews and/or sourcing for this assignment.
All travel-related expenses incurred by the candidates in connection with this
assignment will be directly reimbursed to the candidate by your organization upon
submission of appropriate expense documentation.
In the event that more than one executive is hired or retained as a consultant as a
result of work performed by us on this assignment, a full professional fee of thirty
percent (30%) of each additional new hire’s first year total compensation (as defined
above) will be due and payable upon receipt of invoice.
All placements for which fees are timely paid will be covered by a six month ( 180 days )
performance warranty and a six months ( 180 days ) warranty against the candidate’s
voluntary termination of employment. Should a candidate be ( a ) terminated for failure
to perform the responsibilities of his/her position or ( b ) voluntarily resign (other than
pressure from your company or because of a failure of your company to honor its
commitments to him or her) within six months ( 180 days ), Dennis J. Knox & Company,
Inc., when notified by electronic mail to dknox@djkco.com or by Certified U.S.Mail, or
Return Receipt Requested in writing within ten (10 ) working days, will make reasonable
efforts to replace the employee once, at no additional cost to your company.
Dennis J. Knox & Company, Inc. Representative
___________________________________________Date________________________
Client Company Representative
___________________________________________Date________________________
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