Terms & Conditions
1. The Cloudstaff Share Club (CS ShareClub) goal is to share the value created in Cloudstaff with the employees.
2. Cloudstaff Holdings Pty Ltd is not a stock market listed company and is privately held.
3. CS ShareClub is open to All Cloudstaff(ers) both Hub and Engaged.
4. CS ShareClub Units in the CS ShareClub are issued free of charge.
5. At no time will Cloudstaff charge a fee or sell CS ShareClub Units to Cloudstaff(ers) – there is no Cost to Cloudstaff(ers) to participate in this program.
6. Holders of the CS ShareClub Units can not trade, transfer, sell, borrow against the CS ShareClub Units.
7. The CS ShareClub operates as a liquidity event bonus linked in value to the right of an ordinary share in Cloudstaff Holdings Pty Ltd. In this program, no securities are issued. The liquidity event bonus amount is allocated to CS ShareClub which in turn allocates CS ShareClub Units to participants.
8. The value of the CS ShareClub Unit will only be established when a liquidity event occurs and the liquidity event bonus is known, Cloudstaff makes no representations as to what the actual value may be nor when the Liquidity event may occur.
9. Cloudstaff(er) should seek independent tax advice applicable to their jurisdiction when a liquidity event occurs.
10. If a Cloudstaff(er) resigns from Cloudstaff – they forfeit all CS ShareClub Units which have been allocated to them. CS ShareClub Units are returned to the Share Club.
11. If a Cloudstaff(er) is terminated for performance reasons – they forfeit all CS ShareClub Units which have been allocated to them. CS ShareClub Units are returned to the Share Club.
12. If a Cloudstaff(er) is made redundant – they forfeit all CS ShareClub Units which have been allocated to them HOWEVER upon re-employment with Cloudstaff the CS ShareClub Units will be reinstated.
13. If a Cloudstaff(ers) transfers from Permanent Employee to Cloudstaff Freelancer program they will retain any issued CS ShareClub Units.
14. In the event of the death of a Cloudstaff(er) – the CS ShareClub units will be transferred to the beneficiary of the estate who will hold the CS ShareClub Units until the liquidity event occurs.
15. Tenure
- CS ShareClub Units will be issued to Full-time Cloudstaff(ers) in recognition of tenure:-
- 3 year Anniversary of service from date of regularisation – 300 Share Units
- 5 year Anniversary of service from date of regularisation- 500 Share Units
- 7 year Anniversary of service from date of regularisation – 700 Share Units
- 10 year Anniversary of service from date of regularisation – 1,000 Share Units
- Then every year of service after 10 years, 150 Share Units per year
- Night Shift Kicker is 1.1 multiplier
16. Project Issues Share Units
- CS ShareClub Units may be issued at the discretion of the CEO and management at the mid-year team building event to Cloudstaff(ers) for
- Exceptional Contribution to a key Cloudstaff project
- Exceptional Contribution to a Cloudstaff Club, Network of Special Interest group
- Exceptional Contribution to a Cloudstaff Environmental or Social Program
- Exceptional Social Media Contribution promoting Cloudstaff
- Terms and Conditions are subject to change.
17. Customers will be given shares to allocate to staff on April 202118. Terms and Conditions are subject to change.
