Convert PSD template to Wordpress theme

I have a custom produced template in photoshop and corel formats (whichever you prefer). I need it converted to a Wordpress theme. You may develop it on your own server and WP installation 3.1.3 for review and feedback. Upon approval, send a zip file with the theme ready to upload and install on my WordPress install. You may use place holder text for additional pages and posts. The finished website will be a Wordpress basic CMS site with pages and a blog. Revise according to feedback provided until approved. Home page content provided for you to use to develop the home page. All other pages will be developed later (not by you). Payment Terms: 100% milestone released upon approval. Deliverables: compressed theme directory ready to upload and install. Request a jpg version in PMB if you need to see it first. Copyrights and Intellectual Property: This is a custom designed theme intended for the sole use of the end-client and is owned by the end-client. This theme may not be reproduced, copied or distributed in any manner. Design and Production credit is reserved for the Web Design company, no credit for the Freelancer hired on this project will be posted anywhere on the website or in the source. Thank you.