Vertiv VIP Rewards Program
1. Vertiv’s VIP Rewards Program (“Program”) is open to all Vertiv Partner employees (“Participant(s)”). Program participation and its benefits are offered at Vertiv’s sole discretion. All Participants must have enrolled in and completed their financial statements as part of the Program to receive reward points. Each Participant is responsible for reviewing these rules in order to understand his or her rights, responsibilities and status in the Program.
2. Vertiv reserves the right to change, limit or modify the rules, rewards, reward levels and any other aspect of the Program or cancel the Program at any time, with or without notice, even though such changes, limitations, modifications or cancellation may affect the value of points already accumulated, the ability to use accumulated points or the ability to obtain certain rewards. The accumulation of points does not entitle Participants to any vested rights with respect to points, rewards or Program benefits. In accumulating points, Participants may not rely upon the continued availability of any reward or reward level. If the Program is canceled, Participants have 30 days from the time of notice by Vertiv to redeem any unredeemed reward points.
3. Vertiv reserves the right to interpret and apply the Program rules. Decisions on the Program, including rewards point issuance, will be considered final and non-negotiable.
4. Reward points may be used only by the original receiving Participant, and may not be transferred to, shared with, or pooled with other Participants or with the Participant’s Partner employer.
5. Reward claim submissions will be verified for authenticity. Submission of false claims will result in immediate disqualification from the program and Vertiv retains the right to take other administrative and/or legal action against any Participant involved in fraud related to the Program.
6. Sales purchase orders and/or invoices attached as proof of sale for partner reward claims may only be used once by that individual making the claim. The same purchase order(s) and/or invoice(s) may not be leveraged my multiple individuals for different reward claims on multiple accounts.
7. All overpayments and/or errors are recoverable by Vertiv.
8. Reward points cannot be converted into or redeemed for cash and are non-transferable. Vertiv may add, delete, modify or substitute reward items of equal or greater value. Vertiv makes no guarantees, warranties or representations of any kind, expressed or implied, with respect to any reward items and will not be held liable for any loss, expense, accident or inconvenience resulting from the use of a reward item or as a result of any defect or failure of such items. Any implied warranties of merchantability and fitness for a particular purpose are expressly disclaimed. No reward items may be redeemed by a Participant who has not submitted tax requirements as Rule 9 describes below.
9. The reward points earned by a Participant are required by law to be reported as taxable income. All taxes are the sole responsibility of the Participant. To be eligible to receive points, Participants residing in the United States must complete and submit a W-9 Form, or must submit their legal name, current home address, and Social Security Number on their Program “My Profile” page. Participants residing in Canada must submit their legal name, birthdate, current home address, and Social Insurance Number on their Program “My Profile” page. If a Participant chooses not to submit their required information for taxation, he or she may be removed from the Program and his or her existing reward points will be forfeited.
• If United States participants opt to submit a W-9 Form instead of submitting their information via their “My Profile” page, a link to a W-9 Form can be found on the site by hovering over the Rules Tab. Please download this form, complete and sign it and fax to 866-685-5101.
• When submitting required information for taxation, Participants should enter the same address as what will appear on their income tax return. Participants must notify Program Reward Headquarters upon change of address or change of other required information by submitting a new W-9 Form or by using the “Contact Us” tool on the Program website.
Participants will receive a 1099 Form (United States) or a T4A Form (Canada) for annual points earned, based on the following levels. The 1099 Form or T4A Form will reflect tax liability where the fair market value of the points will be calculated as 75% of the accumulated point value; the point value being $1 for every 200 points earned. Any points earned that exceed a level, but do not reach the next level, will be carried over for the following year. Example: A Participant earns 420,000 points in a given year. They will be taxed on 400,000 points and 20,000 points will carry over to the following year’s tax liability.
Level 1: 5,000 points
Level 2: 10,000 points
Level 3: 20,000 points
Level 4: 50,000 points
Level 5: 100,000 points
Level 6: 150,000 points
Level 7: 200,000 points
Level 8: 400,000 points
Level 9: 700,000 points
Level 10: 1,000,000 points
According to tax laws for nonemployee Participants, Participants residing in the United States will be held liable for payment of tax and will only receive a 1099 Form if $600 or more of Fair Market Value of points is earned within a given year; Participants residing in Canada will be held liable for payment of tax and will only receive a T4A Form if $500 or more of Fair Market Value of points is earned within a given year.
This Program is void where prohibited by law.
10. If a Participant receives a 1099 (United States) or a T4A (Canada) for reward points, any unused reward points may be redeemed for reward items within 60 days after the Participant is no longer employed by the Partner. If a Participant has lost access to the Program website, he or she may contact the Program Reward Headquarters at 800-334-5264 to receive information on how to access the Reward Item Catalog. After the 60 day grace period, the Participant will be deactivated and will lose the ability to redeem unused points.
If a Participant has not received a 1099 Form or T4A Form for reward points, any unused points will be forfeited when he or she is no longer employed by the Partner.
11. Participants may only submit claims for orders of products included in the current focused activity programs/eligible channel product categories.
12. All claims must be for product orders occurring after the Participant’s date of enrollment in the Program. Sales occurring prior to the enrollment date will not qualify.