Koester Kash Policy

 

Purpose

Koester Kash is a internal incentive program designed to support employees in preforming their jobs and to provide access to company-approved items through the employee e-store.

Koester Kash is not compensation, wages, or a guaranteed benefit.

Eligibility

Eligibility to earn and use Koester Kash is determined by the company and may be modified at any time.

·       Full-time employees are eligible to earn the full monthly Koester Kash accrual amount.

·       Part-time employees are eligible to earn 50% of the monthly accrual amount.

·       Temporary, contract, or other non-regular employees are not eligible to participate.

Accrual

·       Eligible employees accrue Koester Kash a rate of $20 per month.

·       New employees start accruing the first of the following month of their date of hire.

·       Once an employee reaches the $240 balance cap, no additional Koester Kash will accrue until funds are spent and the balance drops below the cap.

·       Accrued Koester Kash does not expire while an employee remains actively employed and below the accrual cap.

Use of Koester Kash

·       Koester Kash may only be used to purchase items available in the employee e-store.

·       Koester Kash has no cash value and may not be:

o   Cashed out

o   Transferred to another employee

o   Reimbursed

o   Exchanged for cash, gift cards, or equivalent

·       All purchases are subject to company approval and availability.

 

Separation of Employment

Koester Kash is a company program and has no cash value. Koester Kash does not constitute wages, earn compensation, or a vested benefit. Any unused Koester Kash will be forfeited immediately upon separation of employment, regardless of reason for separation.

Program Administration

Koester Construction reserves the right to:

·       Approve or deny purchases

·       Modify accrual rates, caps, expiration rules, and eligible items.

·       Suspend or discontinue the Koester Kash program at any time, with or without notice.