Award Rules Clause Samples
The Award Rules clause defines the procedures and criteria for determining how awards, such as payments, bonuses, or prizes, are granted under an agreement. It typically outlines eligibility requirements, the process for selecting recipients, and any conditions that must be met to receive an award. For example, it may specify that only participants who meet certain performance targets within a set timeframe are eligible for a bonus. The core function of this clause is to ensure transparency and fairness in the distribution of awards, thereby minimizing disputes and clarifying expectations for all parties involved.
Award Rules. The Award Rules provide a right to payment, subject to certain conditions, following the Participant’s Termination Date if the Participant meets the Retirement Rule which, among other conditions, may require that the Participant not engage in any activities that compete with the business operations of the Travelers Group through the settlement date of the Award (such non-compete condition may extend beyond the Restricted Period). The remedies for a violation of such non-compete conditions are specified in the Award Rules and are in addition to any remedies of the Travelers Group under this Section 10.
Award Rules. 2.1 The first purchase incentives：Starting from the second purchase, return 10% of the purchase amount until the accumulated rebates equals the first purchase amount.
2.2 Carry out cumulative annual purchase amount reward system (January 1 to December 31) as follows:
A. Over 500 thousand—1 million RMB, Party B will receive year-end rebate of 1% of the total purchase amount
B. Over 1 million—2 million RMB, rebate of 2% of the total purchase amount
C. Over 2 million—3 million RMB, rebate of 3%
D. Over 3 million—4 million RMB, rebate of 4% E. Over 4 million—5 million RMB, rebate of 5%
F. Over 5 million, the excess part will get rebate of 8%.
2.3 Product promotion support to the local sales：Take 10% of the first year purchase amount as the local support(Such as advertising, products , information , meetings, etc.)
1. The sales of the commodity of Party B shall not less than RMB 1,000,000.00 within 6 months of the signing, or Party A has the right to disqualify distributor’s qualifications. (Definition of sales is based on the definition of agency purchase price. )
2. If Party B tampers with products pricing system，or against carrying out Party A’s sales and promotion plans.