Lencore Key Account and Target Account Incentive Program for Calendar 2024
What is a Key Account?
A Key Account is defined as an integrator or dealer currently spending, on a calendar basis, at least $100,000 in Net Equipment Revenue (as defined herein) and executing multiple projects with Lencore. The integrator or dealer must be one of the following: A/V Integrator, Structured Cabling Integrator, Low Voltage Contractor, General Contractor, or Furniture Dealer. For purposes of this Key Account and Target Account Incentive Program, “Net Equipment Revenue” is defined as invoiced amounts from Lencore equipment sales only, excluding installation, freight, taxes, tuning, balancing, and any other charges or fees.
Additional Key Account Criteria
The integrator or dealer must qualify for Key Account status every calendar year to maintain program benefits and status is determined in Lencore’s sole discretion.
Key Account qualification resets annually on January 1 of each calendar year.
Program Incentive Details
2024 Rebate Incentive for Key Accounts:
Tier 1 – On an individual Key Account basis, 1% rebate on all Net Equipment Revenue exceeding $100,000 in 2024 – back to dollar one purchased by that Key Account
Tier 2 – On an individual Key Account basis, 2% rebate on all Net Equipment Revenue exceeding $250,000 in 2024 – back to dollar one purchased by that Key Account
Tier 3 – On an individual Key Account basis, 3% rebate on all Net Equipment Revenue exceeding $500,000 in 2024 – back to dollar one purchased by that Key Account
By way of examples only, Customers XYZ and ABC have been identified in writing by Lencore as Key Accounts. In calendar 2024, Customer XYZ’s Net Equipment Revenue invoiced from Lencore was $150,000, earning a Tier 1 Rebate of 1% in the amount of $1,500. In calendar 2024, Customer ABC’s Net Equipment Revenue invoiced from Lencore was $650,000, earning a Tier 3 Rebate of 3% in the amount of $19,500.
Only one qualifying rebate can be earned per Key Account during a calendar year. Qualifying rebates for Key Accounts shall be paid annually by ACH after year-end revenue results are recognized and financial period closed, with an estimated payment timing of no later than April 1, 2025. The amount of any Key Account’s unpaid invoices for Net Equipment Revenue (at the time of rebate determination) will be deducted when determining whether a Key Account qualifies for a specific Tier rebate.
Additional Program Details
A list of current Key Accounts will be attached to this Program as Exhibit A and incorporated herein.
Key Accounts are non-exclusive to Independent Rep Firms or specific geographies.
Lencore reserves the right to change the Program details or terminate this Program in its entirety at any time for any reason in its sole and absolute discretion.