Points & Reward Catalogue Sample Clauses

Points & Reward Catalogue. Every recognition, given via the Services by one User to another User, has a Point value. These Points have a monetary value. Unless otherwise specified in the Quotation, the monetary value of one Point is €0.25. During the setup, the Subscriber will define for all Users how many recognitions – and corresponding Points – they can hand out and during what period (‘Reset Period’). At the end of each Reset Period, Users receive a new batch of recognitions to hand out. The Point value associated with any unused recognitions at the end of the Reset Period, remains at the disposal of the Subscriber. Apart from the Point value associated to recognitions, Arteel can allocate Points directly to Users in accordance with the Subscriber’s instructions. Once received Points remain at the disposal of the receiving User until the end of the Agreement unless the Subscriber specifies a Point Expiration policy. At the Agreement end, up to 85% all points not (re)distributed or redeemed, can be transferred into gifts or other products according to Arteel's GiftServices offering (xxxxx://xxxxxx.xx/giftservices/). A User can redeem Points at their disposal for items from the Reward Catalogue. This Reward Catalogue is comprised of merchandise items and Retail Gift Cards. Both merchandise items and Retail Gift Cards are expressed in Points. Points have no independent economic or cash surrender value other than pursuant to redemption by Users solely in connection with the Service. Points are only redeemable by Users for using the Service.