INCENTIVE TERMS AND CONDITIONS
Goals
- Raise awareness of Sophos
- Increase net new / cross sell revenue for Sophos
- Increase MTR, EDR & XG Firewall sales
- Hit Sophos FY21 Target
- Drive Q4 sales
- Improve conversion rate and deal registration quality
Target Audience
- UK-residents on Softcat’s Sales Account Managers & Network Security team
Timeframes
Eligible Revenue:
- Revenue will be eligible if a net new/ cross sell deal is booked during the period of 1st December 2020 – 25st March 2021
About The Incentive: Eligibility
‘The Sophos Big Prize Hack’ is valid from 1st December 2020 – 25th March 2021 (“Incentive Period”).
If Softcat achieves its FY21 Q4 revenue target, the permitted participant allocations for each outlined event are:
- Bingo Bango Virtual Event: 28th January 2021 – 20 Softcat participants
- Mixology Virtual Event: 25th February 2021 – 33 Softcat participants
- Celebrity Virtual Comedy Event: 25th March 2021 – all Softcat Sophos Big Prize Hack registrations
- Top 3 leader board winners (end of March) – no specific age group
Bingo Bango Virtual Event: 2 Rookie, 2 Young Guns, 2 Softcat Teenagers, 2 Old Timers, 2 OAP’s, 2 Netsec Executive, 2 Netsec Advisor, 2 Netsec Specialist, 2 Netsec Consultant, plus 2 Wild Card participants which totals a maximum total of 20 participants.
Mixology: 3 Rookie, 3 Young Guns, 3 Softcat Teenagers, 3 Old Timers, 3 OAP’s, 3 Netsec Executive, 3 Netsec Advisor, 3 Netsec Specialist, 3 Netsec Consultant, plus 5 Wild Card participants which totals a maximum total of 33 participants.
The incentive eligibility criteria to win the incentive award are detailed in the table below. To be eligible for the incentive award the participants must have achieved the highest gross sales in his/her “Age Group.”
The participant allocations for each “Age Group” as communicated by Softcat to Sophos on 1 December 2020 will be used as the baseline for determining employment longevity at Softcat. Any migration of participants from one “Age Group” to another after 1st December 2020 will not be taken into account (i.e., if someone moves to a new “Age Group” during the course of the incentive based on the longevity of their employment, that participant will remain in the initial allocated “Age Group” for the purposes of incentive calculation).
Wild Card(s)
- In the event that not enough participants meet the minimum criteria above to be eligible for each of the activities outline, Sophos reserves the right to provide up to a maximum of number of “Wild Card” participants to fill the unallocated Softcat participant “Age Groups” who did not satisfy the eligibility requirements for the award’s outlined under “About The Incentive: Eligibility”, but whom Sophos (in its sole discretion) determines have shown the most commitment to the Softcat-Sophos business relationship based on total revenue generation.
How The Incentive Works And Will Be Tracked:
- Subject to the number of winners per “Age Group”, the incentive award winners will be the participant who generate the most net new business / cross sell business for Sophos in his/her “Age Group” who satisfy the eligibility criteria, above. New starters who are UK residents of Softcat’s Sales Account Managers & Network Security team can join the “Rookies” Age Group at any time during the Incentive Period.
- Sophos will provide a link to the dedicated website to register to take part in this incentive on 7th December 2020. Participants must register online by 19th March 2021
- 1 point will be awarded to participant for each pound’s worth of cross sell / net new revenue generated. Total point generation will be used to determine winners. Renewal revenue is excluded from this incentive.
- 2 points will be awarded to participant for each pound’s worth of net new / cross sell revenue generated from sales of Sophos MTR, Intercept X Advanced with EDR and XG Firewall only. Renewal revenue is excluded from this incentive.
- 10,000 points granted on case studies: UKI Sophos Marketing team has received customer details and customer has confirmed they’re happy to proceed (can be existing customer, deal close date doesn’t matter if within the past year of trade)
About the Incentive Award:
‘The Sophos Big Prize Hack’ is for UKI employees of Softcat’s Sales Account Managers & Network Security team. Full details of incentive experiences and awards, and how these are allocated are outlined below:
- w/c 14th December first 50 registration receive Sophos gift
- On first week of each month starting January – March 2021 4 people from the leaderboard will be selected to receive a Sophos award, receiving a glass plaque and bottle of champagne
- Bingo Bango Virtual Event: Thursday 28th January 2021 – 20 Softcat participants
- Mixology Virtual Event: Thursday 25th February 2021 – 33 Softcat participants
- Celebrity Virtual Comedy Event: Thursday 25th March 2021 – all qualifying Softcat leader board participants
- March top 3 preforming Softcat Sales Account Managers/Network Security team provided with prizes ranging from £200 – £1,000 in price (tbc final detail of these awards)
Details on number of participants to qualify for each element are described in section “About The Incentive: Eligibility”.
Additional Terms and Conditions:
- This incentive is exclusive to Softcat UK-resident Sales Account Managers & Network Security team members who have been permitted by Softcat to participate in ‘The Sophos Big Prize Hack’ and is valid for the Incentive Period. The winners for each experience and prize will be confirmed as outlined below
- All deals which qualify for this incentive will be accounted for from 1st December 2020 – 25th March 2021
- Leaderboard Age Group winners for each virtual event will be confirmed on the Monday of the events commencing week
- All registered incentive participants will receive ‘Save The Date’ diary invitations for the scheduled events outlined in section ‘About Incentive’
- Incentive awards will be delivered to winning Softcat Account Managers/Network Security team
- The top 3 leaderboard winners will receive prizes as outlined under the section ‘About Incentive’
- If a winner declines to accept the incentive award or is no longer employed by Softcat upon announcement of the winners, that incentive award will be awarded to the participant with the next highest revenue achievement in the applicable “Age Group” (provided that participant has met the applicable minimum net new / cross sell revenue target).
- Sophos reserves the right to refuse a participant’s acceptance of the incentive award, under guidance from Softcat, for reasons including but not exclusive to employment notice period, disciplinary proceedings, detrimental business impact.
- If there is no eligible participant within an “Age Group”, Sophos may award the incentive award as set out under the “Wild Card(s)” section above.
- Softcat and all participants must ensure compliance with all applicable anti-bribery and anti-corruption laws and the Sophos Anti-corruption and Bribery Policy at https://www.sophos.com/en-us/legal/sophos-antibribery-policy.aspx at all times
- Under no circumstances may this incentive award or equivalent be offered to customers, whether directly or indirectly
- The incentive awards are non-exchangeable, non-transferable or assignable and no cash alternative is offered
- Sophos will provide Softcat a one-time payment equal to 75% of the anticipated total value of the top 3 leaderboard winner prizes
- Softcat acknowledges and agrees that Softcat and/or the incentive award winners will be exclusively responsible for all tax assessments and tax liability associated with the incentive and incentive award
- Sophos reserves the right to amend these terms and conditions and vary/withdraw/cancel the incentive or incentive award in its sole discretion at any time
- In the event of any disputes concerning this incentive or these terms and conditions, the decision of Sophos will be final. Sophos may, in its sole discretion, disqualify any participant from this incentive, and modify, suspend, or terminate this incentive, in whole or in part, at any time and for any reason
- The incentive shall be governed in accordance with English Law
