Loyalty Program Contract HR
LOYALTY PROGRAM CONTRACT
This Loyalty Program Contract ("Contract") is entered into on this 2nd day of [Month Day, Year] (the "Effective Date"), by and between [Your Company Name], a corporation registered under the laws of Vermont, with its principal place of business at [Your Company Address] (hereinafter referred to as the "Company"), and [Second Party Name], an individual residing at [Second Party Address] (hereinafter referred to as the "Employee").
PURPOSE
The purpose of this Contract is to outline the terms and conditions of the Loyalty Program offered by the Company to the Employee, effective as of the Effective Date.
LOYALTY PROGRAM TERMS
Eligibility: The Employee shall be eligible to participate in the Loyalty Program if they have been employed with the Company continuously for a minimum of 10 years.
Program Benefits: The Company agrees to provide the following benefits to the Employee as part of the Loyalty Program:
Increased Vacation Days: The Employee is eligible for an additional [Number] days of paid vacation leave per year.
Bonus Compensation: The Employee will receive an annual loyalty bonus equivalent to 20 % of their base salary.
Stock Options: The Company will grant the Employee stock options, allowing them to purchase Company shares at a discounted price.
Professional Development: The Employee will have access to professional development opportunities, including courses, seminars, and workshops, sponsored by the Company.
Program Duration: This Loyalty Program shall commence on the Effective Date and shall continue until terminated by either party with written notice, or as otherwise provided in this Contract.
PROGRAM TERMS AND CONDITIONS
Loyalty Commitment: The Employee agrees to remain in the continuous employment of the Company for the duration of their participation in the Loyalty Program.
Program Modification or Termination: The Company reserves the right to modify, suspend, or terminate the Loyalty Program at any time, with or without cause, upon written notice to the Employee.
Employee Obligations: The Employee shall adhere to all Company policies and guidelines during their participation in the Loyalty Program.
CONFIDENTIALITY
The Employee agrees to maintain the confidentiality of all information related to the Loyalty Program, including but not limited to program benefits, terms, and conditions.
DISPUTE RESOLUTION
The HR will resolve any disputes arising out of or relating to this Contract through negotiation and, if necessary, through binding arbitration per the rules of the American Arbitration Association.
GOVERNING LAW
This Contract shall be governed by and construed per the laws of Vermont, without regard to its conflict of law principles.
ENTIRE AGREEMENT
This Contract constitutes the entire agreement between the parties concerning the Loyalty Program and supersedes all prior agreements and understandings, whether oral or written.
AMENDMENTS
Both parties can only amend and sign this Contract in writing and signed.
SEVERABILITY
If both parties find any provision of this Contract to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
ACKNOWLEDGEMENT
Both parties acknowledge that they have read and understood the terms and conditions of this Contract and voluntarily enter into it.
IN WITNESS WHEREOF, the parties hereto have executed this Loyalty Program Contract as of the Effective Date.
[Your Company Name]
By: ___________________________________
[Your Name]
Head of Human Resources
