Section 2: Definitions
A SALT WAVE CLUB MEMBER who has purchased SALT WAVE products within the past twelve months.
Annual Renewal Fee:
A fee that is required to be paid by a SALT WAVE CLUB MEMBER to the Company to renew his or her Distributorship each year on the SALT WAVE CLUB MEMBER`S anniversary signup date.
Compensation (sometimes called “commissions”) paid by the Company to a SALT WAVE CLUB MEMBER based on the volume of services and products sold by a SALT WAVE CLUB MEMBER`S organization upon meeting the requirements of the SALT WAVE Sales Compensation Plan. See, Section 10.
Business Application Addendum:
A supplemental document to the SALT WAVE CLUB MEMBER Agreement Form. The Business Application Addendum must be completed and signed by a partnership, corporation, or other legal entity (see Corporation) applying to become a SALT WAVE CLUB MEMBER. The Business Application Addendum should list all Persons who are partners, shareholders, principals, officers, beneficiaries, directors or members of a Corporation.
Company or “SALT WAVE” means SALT WAVE.
Company Credit: Company Credit is a SALT WAVE CLUB MEMBER'S account receivable balance. Company Credit can be used to purchase product or can be redeemed for cash (compare, Product Credit).
The agreements between a SALT WAVE CLUB MEMBER and the Company comprised of this Policy Manual and the SALT WAVE CLUB MEMBER Agreement Form together with any Business Application
Any business entity such as a corporation, partnership, limited liability company, or other form of business organization legally formed under the laws of the state in which it was organized.
The term “Customer” includes Wholesale Customers.
The term Distributorship is another term for the business of any SALT WAVE CLUB MEMBER, as represented by a SALT WAVE CLUB MEMBER`S contractual relationship with the Company.
SALT WAVE Intellectual Property:
SALT WAVE Intellectual Property means all intellectual property which
SALT WAVE or an affiliated company claims to own, or claims a right to use, including but not limited to trademarks, trade names, service marks, and content of its publications, whether registered with relevant governmental authorities or not.
Another term for Organization.
An Enrollee is a SALT WAVE CLUB MEMBER who was enrolled by an Enroller.
Enroller is a designation that entitles a SALT WAVE CLUB MEMBER to qualify for Ranks and Fast Start Bonuses in the Sales Compensation Plan. Enrollers also enjoy the ability to identify a new SALT WAVE CLUB MEMBER`S Sponsor within the Enroller’s Organization. An Enroller can also be the Sponsor (compare, Sponsor).
A single country or grouping of countries that the Company designates.
Loyalty Rewards Program:
The Loyalty Rewards Program (LRP) is a product ordering program wherein a
SALT WAVE CLUB MEMBER can set up automatic monthly deliveries of SALT WAVE products, and which may qualify a SALT WAVE CLUB MEMBER to receive Product Credits and other benefits in the Sales Compensation Plan (see, Section 10.B.7).
Open Local Market:
A country or geographical region designated in writing by the Company as officially open for SALT WAVE business.
The group of SALT WAVE CLUB MEMBER sponsored in a SALT WAVE CLUB MEMBER`S direct and subsequent downline chain of sponsorship.
An individual, Corporation, partnership, or other legal entity.
Designations (levels) earned by and given to SALT WAVE CLUB MEMBER in the Company’s Sales Compensation
Plan structure, including:
DISTRIBUTOR, BRONZE AGENT, SILVER AGENT, GOLD AGENT,
PLATINUM AGENT, BRONZE DIRECTOR, SILVER DIRECTOR, GOLD DIRECTOR, PLATINUM DIRECTOR, MANAGER DIRECTOR, SUPER DIRECTOR. Ranks are earned and determined each month.
Another term for Contract.
Claims related to the efficacy or effect of SALT WAVE products. Product claims are regulated by federal, state, or local governments in which the SALT WAVE CLUB MEMBER does business, including the Food and Drug Administration, Federal Trade Commission, or similar governmental agencies in the jurisdiction of the SALT WAVE CLUB MEMBER.
Any material, whether physically printed or in digital form, used in the offer or sale of Company products, recruitment of prospective SALT WAVE CLUB MEMBER, or training of SALT WAVE CLUB MEMBER, which makes reference to the Company, the Company products, the Sales Compensation Plan, or SALT WAVE
A SALT WAVE CLUB MEMBER who has another SALT WAVE CLUB MEMBER placed directly underneath him in his Organization (compare, Enroller).
SALT WAVE CLUB MEMBER:
A person who is an independent contractor authorized by the Company to purchase and retail products to Customers, recruit other SALT WAVE CLUB MEMBER, and receive Bonuses in accordance with the requirements of the Sales Compensation Plan. A SALT WAVE CLUB MEMBER`S relationship to the Company is governed by the Contract. More than one Person may be included on a Distributorship as a co-applicant. In such a case, SALT WAVE CLUB MEMBER refers to all Persons collectively, although each Person individually has all the SALT WAVE CLUB MEMBER rights and obligations.
SALT WAVE CLUB MEMBER Agreement Form:
The application, whether in printed or electronic form, to become a SALT WAVE CLUB MEMBER which, upon acceptance by the Company, is part of the Contract between the
SALT WAVE CLUB MEMBER and the Company.