Agent SPIFF & Price Match
Terms and Conditions
Effective August 1, 2018, Vonage Business shall offer a new Business Cloud and Enterprise Price Match promotion for Q3 2018 (“Price Match Promotion”). This new Price Match Promotion will run separately from and parallel to the Cloud Services and Circuits SPIFF promotion, which began on June 1, 2018, and is currently in effect during Q3 2018 (“Cloud Services and Circuits SPIFF”). Eligible Agents may choose to participate in either the Price Match promotion or the Cloud Services & Circuits SPIFF promotion (but not both) for New Sales as defined herein.
The following terms and conditions shall apply to the Price Match Promotion in addition to the terms and conditions of any applicable master agent, authorized agent or other written agreement between the participants and Vonage Business Inc. or other affiliates of Vonage Holdings, Inc. (collectively, the “Company”):
Effective Date: August 1, 2018
Vonage Business Cloud and Enterprise Price Match Promotion:
- “New Sales” means sales to end user customers (entities, including any affiliated individuals or entities) that have never purchased Company products or services.
- Eligible New Sales” means New Sales of ten (10) or more seats for Vonage Business Cloud or twenty-five (25) or more seats for Vonage Enterprise with a minimum contract term of at least twelve (12) months. Further, to be eligible to participate in this promotion, Eligible New Sales must be approved by Vonage for the Vonage teaming program and involve a Vonage sales professional.
- The Monthly Recurring Revenue (“MRR”) reward period will commence on August 1, 2018 and will continue through September 30, 2018 for all New Sales.
- Effective August 1, 2018 through September 30, 2018 (and subject to the terms and conditions set forth herein), Vonage will: (a) match its competitors’ pricing and its competitors’ Sales Performance Incentive Fund Formula (the “SPIFFs”) for Eligible New Sales of the Vonage® Business Cloud and Enterprise Services; and (b) either: (i) pay an additional 1x MRR SPIFF point; or (ii) provide one (1) free month to the customer. For example, if a Vonage competitor offers a 2x MRR SPIFF, Vonage will match the competitor’s pricing AND a contracted Vonage Agent with an Eligible New Sale would be able to select between: (i) earning 3x MRR; or (ii) earning the matching SPIFF (in this case 2xMRR) and providing the customer with one (1) free month.
- Vonage® Business Cloud includes the following services: Vonage Business Cloud Mobile Plus, Vonage Business Cloud Complete including conferencing + collaboration tools from Chime Pro tier, Mobile and Desktop Apps, SMS Virtual Receptionist, Visual Voicemail/Voicemail Transcription.
- Vonage® Enterprise includes the following services: Premium Hosted Seats, Basic Hosted Seats, SIP/Analog/PRI Trunking, Hardware Rentals, Web and Video conferencing, Speak2Dial, Visual Voicemail, Hosted Call Recording and other cloud- based services.
- For Vonage Business Cloud, “MRR” shall mean a one-time payment in addition to any commissions, which will be paid by the end of the calendar month after the month in which Vonage receives the customer’s first full payment. Order must be entered by the last day of the month in which New Sale was obtained. The amount of “MRR” is calculated according to the terms in the agent’s agreement with Vonage.
- For Vonage Enterprise, “MRR” shall mean a one-time payment in addition to any commissions payable under an agent agreement and will be paid within one month following execution of a signed sales contract (e.g., for a sales contract signed in January commission will be paid on or about the 20th of February). The amount of “MRR” is calculated according to the terms in the agent’s agreement with Vonage.
- Participants must submit reasonable proof to Vonage of the SPIFF offer (the adequacy of which will be determined by Vonage in its sole discretion). Such reasonable proof can include, but is not limited to, non-confidential quotes. The submission of "reasonable proof" by participant to Vonage is subject to participant’s compliance with any confidentiality obligations owed to third parties. Vonage does not promote or encourage violation of third party confidentiality obligations. Participants are expected to abide by the terms of any confidentiality agreement, if applicable.
- All New Sales must be: (1) on Company’s standard service agreements and terms and conditions (without modification) (2) with a minimum initial service term of twelve (12) months or longer (for Vonage Enterprise services, as applicable), and (3) registered via the Vonage partner portal.
- New Sales that require ICB (Individual Case Basis) approval will be subject to a reduced bonus payout (not to exceed 1x MRR).
- Any New Sales that are terminated or otherwise canceled for any reason prior to installation or within the first six (6) months of the initial service term are subject to full chargeback and recovery of the MRR payment from agent.
- New Sales with MRR over $100,000 may be inapplicable for this promotion.
- New Sales must qualify as commissionable sales under the applicable agent agreement between August 1, 2018 and September 30, 2018.
- This promotion may not be combined with any other offer or promotion, including, without limitation, Cloud Services & Circuits SPIFF promotion.
- Vonage reserves the right in its sole discretion to change or modify the terms and conditions at any time and/or cancel the Promotion entirely.