TERMS AND CONDITIONS EXTERNAL REFERRAL INCENTIVE PROGRAM (ERIP) Watermark Risk Management International, LLC.
Please read carefully. By submitting a candidate for referral, you are agreeing to the following terms and conditions.
Watermark’s External Referral Incentive Program (the “Program”) offers a one-time referral payment to persons unaffiliated with Watermark to help Watermark and its subsidiaries attract, hire and retain the very best talent in the U.S. Referrals are valid for 6 months from the date of submittal.
II. Individuals Eligible for an External Referral Payment
You must be an individual person (i.e., not a business entity) and a legal resident of the U.S. who is at least 18 years of age to participate in the Program.
III. Individuals Not Eligible for an External Referral Payment
The following people and/or entities are not eligible to participate in the Program:
- Current Watermark employees and their family members.
- Staffing/recruiting agencies or consultants, or any employee or consultant of a third-party to whom Watermark is contractually obligated to pay a fee for the hiring of an individual referred by, or working for, such third party.
IV. Non-Eligible Candidates
You are not eligible for an external referral payment if the candidate you refer is a:
- A candidate who has already been referred in the last 12 months.
- Current applicant to Watermark (if they have applied to Watermark within the last 90 days).
- Recent or current contractor, temporary worker, or consultant in the last 12 months.
- Former Watermark employee.
- Family member of a current Watermark employee.
- Employees of companies Watermark has active contracts with barring the hiring of teammate staff.
V. Payment Terms
If you are eligible to participate in the Program, Watermark shall pay you a one-time payment in the amount of up to $1,500 (gross) for an external referral, if the referral results in a successful, regular full-time hire, and such referred employee:
- Applied to the position your referred them for.
- Completes 90 business days of continuous, active employment with Watermark upon initial start.
- Was hired against an external referral program-eligible position.
If the referee is successfully hired by Watermark, you must complete and return to Watermark an IRS Form W-9 (and any other documentation Watermark may require) to receive the referral bonus. Watermark will supply the form to the referrer once the referred candidate has started employment with Watermark.
Watermark will process the external referral bonus within 30 days after the referred employee completes the 90 days of employment mentioned above, and the required paperwork has been submitted. Payments will be made on a 1099 basis, and Watermark will pay by a company check.
VI. Process to Refer Candidates
Referral information will be submitted to email@example.com and will include a name, resume, position referred to (and location) and contact information for the candidate as well as the name, email and contact information for the referrer. Referrals submitted any other way, that do not include all the required information will NOT be eligible for this program.
To be eligible for an external referral bonus, you must provide the following at the time of your initial submission:
- Your name and contact information (phone number and email address).
- To be eligible for an external referral bonus, the referee MUST apply to a qualified and eligible position. *Unless other specified, all open positions at Watermark will be eligible for the ERIP.
Note: One candidate per submittal. If the referred candidate appears to be a match, we will contact him or her.
VII. Tax Liability
External referral bonuses are paid pre-tax from Watermark. You are solely responsible for paying appropriate state and federal taxes on any payment received. Watermark will report referral payments to the appropriate tax authorities.
VIII. Additional information, Rules, & Guidelines
Positions qualified for the Watermark external referral bonus program are listed on the external referral program page.
- Positions qualified for the Watermark external referral bonus program are listed on the external referral program page.
- If more than one external person refers the same candidate and such candidate is hired by Watermark, the external referral bonus will be awarded to the first referrer based on the timestamp of the submittal. You must be at least eighteen (18) years old at the time you make a referral to participate.
- You must be a legal resident of the U.S. and have a valid social security number to participate in the Program.
- Referrals must be submitted through firstname.lastname@example.org email to qualify the referrer for the bonus payment. The terms and conditions of this external referral bonus program are subject to change or terminate at Watermark’s sole discretion at any time.
- This agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Virginia without regard to the principles of conflicts of law. Any legal action brought in connection with this agreement must be instituted in the courts within the Commonwealth of Virginia, whether state or federal.
- You agree that Watermark’s total liability under this agreement for any cause of action relating to the subject matter of this agreement (regardless of the nature of such claim) is the lesser of your actual, direct damages or $2000.
- Please email email@example.com with any questions.
- If the referral is part of a previous teaming agreement or has other hiring processes associated with them, those teaming agreements take precedent over the external referral process.
By submitting a referral you are agreeing to the terms and conditions outlined by this program.
Watermark is an equal opportunity and affirmative action employer. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, or veteran status, and consistent with applicable federal and state laws.
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