Common use of Program Payment Clause in Contracts

Program Payment. 6.1 The Partner’s principal business owner or financial officer is responsible for identifying their preferred payment method and for providing accurate payment routing information based on the payment method selected. Failure to do so could result in delayed or forfeited payments. Available payment methods may vary depending on the Partners’ country of location. 6.2 VMware is offering several payment options: bank draft, check, credit memo or wire transfer paid directly to the Distributor’s bank account. For a complete list of payment methods available in your country, please review the “Payment Types by Country” list published on the Partner Reward Management portal under the “Reports” tab. 6.3 Payments will be issued quarterly within 60 days from the end of the program period. 6.4 The program will operate in a single currency per distributor, as agreed between VMware and the distributor. Authorized currencies vary based on VMware’s designated geographies and will be designated on Partner Central when targets are published. 6.5 VMware’s Corporate Exchange Rate will be used for any 6.6 Partners have 45 days after benefits have been issued by VMware to dispute their attainment or final benefit amount. In no event may Partner initiate a dispute regarding their benefits more than 105 days following the program period. Disputes should be sent to ▇▇▇▇▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇ to officially log a case for tracking purposes. 6.7 Distributors will lose eligibility to any payments if their distributor account in Partner Central is no longer active with VMware at the time payments are issued. 6.8 Partners will lose eligibility to any rebate benefits 45 days from the end of the program period, due to any pending, missing or inaccurate payment routing information from the Partner. 6.9 VMware requires a minimum rebate payment of $100 USD or equivalent. Rebate payments across all applicable rebate programs, pilots, or promotions listed in the Partner Rewards Management section of Partner Central will be combined each quarter when possible. Rebate payments below this this threshold for a given quarter will not be paid and will be voided immediately. Development fund 6.10 Benefits issued in the form of development funds will be transferred to the Development Fund section of Partner Rewards Management in Partner Central. Development fund benefits earned through this program will be subject to all Terms, Conditions, and program guidelines of VMware’s Development Fund program. Full details of VMware’s Development Fund program can be found on Partner Central. Partners will lose eligibility to any earned development funds at the end of the 2nd quarter following the quarter in which they are earned if they are not fully reinvested into eligible activities (Dedicated funds accrued in 16Q2 will be available for spend in 16Q3 until the end of 16Q4). 6.11 VMware reserves the right to audit all program records. In the event overpayments are discovered by an audit, VMware will notify you, setting forth in a reasonable amount of detail the amount of overpayment and the actions to be taken by VMware to recover the overpayment. VMware may apply any overpayment against future program benefit amounts until the overpayment is offset in full.