Conversion Fee. As set forth below, UC agrees to pay a conversion fee upon the conversion of a contingent labor employee to UC’s employment. The conversion fee is based on the annualized salary (2,096 hours) of the converted employee. Multiply the contingent employee’s pay rate by 2,096 to determine the annualized salary. Should the employee be used in a different capacity/project, the time banked on previous assignment(s) shall apply as the total calendar days as follows:
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Sources: Purchasing Agreement, Purchasing Agreement, Purchasing Agreement