Terms of Business Summary: United Kingdom

Fee Structure

Fees are set at 25% of the Candidate's first-year gross base salary for the agreed role, invoiced in three stages:

• Search Fee (on instruction) — one third of the total fee, based on assumed remuneration
• Shortlist Fee (on shortlist presentation) — one third of the total fee, based on assumed remuneration
• Completion Fee (on written acceptance) — the remaining balance, adjusted to reflect actual remuneration offered

Where a second Placement results from the same Search mandate, a separate fee of 20% of first-year remuneration applies.

Payment Terms

All invoices are payable within 14 days of receipt. Fees are quoted in GBP and are exclusive of VAT. Late payment attracts interest under the Late Payment of Commercial Debts (Interest) Act 1998.

Cooling-Off Period

Clients have 14 calendar days from the date of instruction to cancel without penalty. If the Client is not satisfied that Innotech can deliver to the required standard, the Search Fee is refunded in full within 14 days. No further obligations apply beyond any expenses already incurred.

Satisfaction Guarantee

If a Placement terminates within the first 6 months for any reason other than redundancy or business reorganisation, Innotech will use reasonable endeavours to find a replacement at no additional charge, provided fees were paid within 14 days of invoice and Innotech is notified within 7 days of termination. For VP and CxO level appointments, this guarantee extends to 12 months.

If no suitable replacement is found within 3 months, a rebate of 50% of the Completion Fee applies. The Shortlist Fee is non-refundable in all circumstances.

Introduction Period

Where a Candidate introduced by Innotech is subsequently engaged by the Client within 24 months of that introduction, the full fee applies regardless of the route of engagement.

Governing Law

England and Wales.