AVTRIP PROGRAM GUIDELINES
The AVFUELģ refueling rewards program (the ďAVTRIPģ ProgramĒ) is a frequent fueling program offered exclusively by AVFUEL CORPORATION (ďAvfuelĒ) to enrolled individuals (each a ďParticipantĒ).
An account is established for each Participant (an ďAVTRIP AccountĒ); points are awarded to that Participant's AVTRIP Account ("AVTRIP Points") based on the Participant's purchases at locations that participate in the AVTRIP Program (each an "FBO"); those AVTRIP Points are compounded quarterly at an annual rate (the "Acceleration Rate") based on the period that the Participant has selected for the accumulation, compounding and redemption of his AVTRIP Points to cash (the "Redemption Period"); as of the last day of that Redemption Period, the awarded and compounded AVTRIP Points are redeemed into cash at the rate of $25.00 for each 5,000 AVTRIP Points (each an "AVTRIP Award").
Under the general provisions of the AVTRIP Program, a Participant will be awarded two AVTRIP Points for each gallon of aviation fuel purchased at a participating FBO dispensing fuel in US Gallons and 1 point for every 2 liters at a participating FBO dispensing fuel in liters. Individual FBOs may award additional AVTRIP Points for fuel purchases and may award AVTRIP Points for services or other purchases. Award guidelines may vary if the participating FBO is outside of the United States. If the participating FBO gives AVTRIP points for contract fuel purchases, only purchases through Avfuelís Contract Fuel Program qualify, and the fuel must be supplied/billed by Avfuel, not any other fuel broker/supplier.
AVTRIP Accelerator Points:
AVTRIP Accelerator Points are bonus AVTRIP Points awarded to the Participant as of the last day of each quarter (each three month period ending March 31st, June 30th, September 30th and December 31st) based on the Acceleration Rate applicable to the Redemption Period selected by the Participant.
The Redemption Period can be quarterly,(AVTRIP Awards for AVTRIP Points awarded during the year are computed and awarded as of March 31st, June 30th, September 30th and December 31st of that year) annually (AVTRIP Awards for AVTRIP Points awarded during the year are computed and awarded as of December 31st of that year)or triennially (AVTRIP Awards for AVTRIP Points awarded during the year are computed as of December 31st with Acclerator Points only added quarterly for the next two years and award is issued two years after the close of that year. The Acceleration Rates for the three Redemption Periods are as follows:
Redemption Period Acceleration Rate
(annual rate compounded quarterly)
As of the last day of each quarter, the Participantís AVTRIP Accelerator Points will be calculated at the applicable Acceleration Rate based on the average balance of the AVTRIP Points in the Participantís AVTRIP Account during that quarter and added to the Participantís AVTRIP Account as of that last day of the quarter. (The average balance will be the average of the number of AVTRIP Points in the Participantís AVTRIP Account as of the first day and last day of that quarter, before adding any Accelerator Points generated in that quarter. If the quarter for which the calculation is made is the last day of the Participantís Redemption Period, while the average for that quarter is computed before the Accelerator Points for that quarter are added, the AVTRIP Awards will be computed and awarded after the addition of those Accelerator Points). A longer Redemption Period generates a higher Acceleration Rate over a longer period, resulting in more Accelerator Points.
As of the last day of the Participantís Redemption Period, after giving effect to all Accelerator Points awarded as of that date, a $25 AVTRIP Award will be awarded for each 5000 AVTRIP Points in the Participantís Account, the AVTRIP Points that were converted into AVTRIP Awards will be subtracted from the Participantís AVTRIP Account as of that date, any residual AVTRIP Points in the Participantís AVTRIP account will be rolled over for the computations and compounding for the next Redemption Period.
If Participant has not made any purchases generating AVTRIP Points for four consecutive quarters, then Accelerator Points will not be awarded again to that Participant's AVTRIP Account until the quarter in which a purchase by that Participant generating AVTRIP Points occurs. If Participant has not confirmed and updated his or her address for four consecutive quarters, then Accelerator Points will not be awarded again to that Participant's AVTRIP Account until the quarter in which the Participant updates that address.
Selection and Changing the Redemption Period
A Redemption Period is selected annually, for all AVTRIP Points awarded to a Participant in the calendar year for which that selection is made. Once the Redemption Period is selected for a calendar year, it cannot be changed for that calendar year. But a Participant may select a different Redemption Period for AVTRIP Points that will be awarded in a later calendar year.
Each individual who is enrolled as a Participant in the AVTRIP Program as of December 31, 2011 will, on January 1, 2012, be automatically assigned an annual Redemption Period for 2012 (so that AVTRIP Points rolled over from 2011, AVTRIP Points awarded for purchases in 2012 and Accelerator Points resulting from compoundings in 2012 will be redeemed as AVTRIP Awards as of December 31, 2012.)
Each individual who enrolls as a Participant in the AVTRIP Program after December 31, 2011 may select any Redemption Period as part of his or her enrollment. Any enrolling Participant who does not select a Redemption Period will, on the date of enrollment be automatically assigned an annual Redemption Period, so that the AVTRIP Points awarded for purchases by that Participant following that enrollment and the Accelerator Points resulting from quarterly compoundings of those AVTRIP Points, will be redeemed as AVTRIP Awards as of December 31st of the calendar year in which the Participant enrolled. (For example, if the enrollment date is February 15, 2012, then the first Redemption Period will end December 31, 2012.)
A Participant can change his or her Redemption Period for AVTRIP Points for a later calendar year by notice to Avfuel at www.avfuel.com at any time prior to that calendar year. A confirmation will be sent acknowledging the change (which the Participant must keep and present if there are any discrepancies). The Participant must notify Avfuel by phone within 72 hours if this confirmation is not received. If Avfuel has not received a change notice before the first day of a calendar year, then the Participantís Redemption Period for AVTRIP Points awarded in that calendar year will be the same Redemption Period for the AVTRIP Points that were awarded in the immediately preceding year.
As a general rule, as stated above, a change of Redemption Period will be effective as of the first day of the calendar year following the calendar year in which the change notice was sent to Avfuel. As a one-time exception to that general rule, Participants who as of January 1, 2012 have been automatically assigned an annual Redemption Period for 2012, by notice to Avfuel prior to March 15, 2012 at www.avfuel.com may as of April 1, 2012 change their selection for AVTRIP Points awarded after March 31, 2012 to a quarterly or triennial Redemption Period and the following will apply:
- AVTRIP Points and Accelerator Points awarded to the Participants AVTRIP Account through March 31, 2012 will continue to generate Accelerator Points on the basis of an annual Redemption Period and will be redeemed as AVTRIP Awards as of December 31, 2012 at the rate of $25 for each increment of 5,000 AVTRIP Points plus $.005 for each additional AVTRIP Point.
- AVTRIP Points awarded to the Participants AVTRIP Account after March 31, 2012 will generate Accelerator Points on the basis of the changed Redemption Period and will be redeemed at the end of that Redemption Period.
To earn AVTRIP Points, the Participant must at the time of purchase advise the participating FBO that the purchase is being made under the AVTRIP Program and must present his/her AVTRIP Member Program Card (failure to do so may result in points not being awarded). The AVTRIP Points from a Participantís purchase will be awarded to the Participantís AVTRIP Account and, except for certain authorized programs, AVTRIP Points may not be transferred between AVTRIP Accounts and may not be pooled or combined with the AVTRIP Points of other Participants or conveyed by any means to anyone, including through a Participantís estate or as part of a domestic relations matter, and may not pass to Participantsí successors and assigns. AVTRIP Points do not constitute property of the Participant and have no monetary value. Further details about specific authorized programs and procedures may be obtained by written request to Avfuel.
Participating FBOs will, at a minimum, provide to Avfuel on a twice monthly basis, the AVTRIP Points awarded at the FBO and Avfuel will post these to the appropriate AVTRIP Accounts on the date processed. After the close of each calendar quarter, Avfuel will provide an online statement for each AVTRIP Account of the AVTRIP Points and Accelerator Points earned and recorded as of the end of that quarter. Participants are responsible for reviewing these statements. Any discrepancies or missing AVTRIP Points must be reported to Avfuel within 45 days after the statement date. Any points that are not applied to an AVTRIP Account due to an incorrect account number presented at the time of purchase shall be void 12 months after the date of purchase. If AVTRIP Points are identified within the 12 month period, the AVTRIP Points will be posted to the account as of the date they are identified and accelerated based on that post date.
An AVTRIP Award earned in a Participantís valid, active AVTRIP Account will be paid to the Participant (or other party or parties designated by the Participant in writing) after the close of the Participant's Redemption Period. The AVTRIP Award will be issued under the Participantís name (or, if the Participant has designated other parties to receive the AVTRIP Award, and mailed to the Participantís (or, if applicable, AVTRIP Award recipientís) current address on file with Avfuel. The Participant will be responsible for keeping such addresses current for that purpose, as Avfuel will not be responsible for any loss or theft after mailing the AVTRIP Award to such address(es).
If a Participant does not have a current address on file with Avfuel, the Participantís AVTRIP Account will be deemed inactive and AVTRIP Points in the Participantís AVTRIP Account will not be converted to an AVTRIP award unless and until such time as a valid, current address has been provided to Avfuel, provided that the Participantís involvement in the AVTRIP Program has not been terminated (as described below) prior to such time.
If any AVTRIP Award is returned to Avfuel as undeliverable, the AVTRIP Award will be cancelled and the AVTRIP Points returned to the Participantís AVTRIP Account until such time as a valid, current address has been provided to Avfuel or until the Participantís involvement in the AVTRIP Program is terminated; provided, however, that if Avfuel is required to remit such undeliverable AVTRIP Award or the equivalent value thereof to the State of Michigan or any other state or jurisdiction under unclaimed property statutes, the Participantís AVTRIP Account will be debited for the AVTRIP Points applicable to such AVTRIP Award.
AVTRIP Awards issued under the AVTRIP Program will be subject to applicable government regulations.
The Participant will be solely responsible for any and all taxes associated with the receipt of an AVTRIP Award and the Participant (and, if the AVTRIP Award is issued to another party at the Participantís direction, the AVTRIP Award recipient) will indemnify Avfuel against any and all claims regarding taxes. If and as required by law, Avfuel will issue an IRS Form 1099 to any Participant earning an AVTRIP Award under the AVTRIP Program each year, regardless of whether the AVTRIP Award was issued to the Participant or to another person or entity at the Participantís direction.
Avfuel reserves the right to terminate a Participantís involvement in the AVTRIP Program if the Participant misuses his/her AVTRIP Pilot Program Card, breaches these Guidelines, fails to maintain a current address on file with Avfuel for twelve consecutive months or fails to make any purchases generating AVTRIP Points during any consecutive twelve-month period. If a Participantís involvement in the AVTRIP Program is terminated for any of the foregoing reasons, all AVTRIP Points in that Participantís account will be cancelled and not converted into an AVTRIP Award. Avfuel reserves the right to terminate the AVTRIP Program at any time upon written notice to all Participants. If the AVTRIP Program is terminated by Avfuel, then the last day of the Redemption Period for each Participant will be accelerated to the effective date of termination of the AVTRIP Program and Avfuel will redeem all AVTRIP Points in a Participantís AVTRIP Account as of that date in that same manner in which an AVTRIP Accounts would "zeroed out" upon the change of a Redemption Period for that AVTRIP Account.
Avfuel reserves the right to amend these Guidelines, in whole or in part, by written notice to all Participants or by posting new Guidelines on the Avfuel Website, www.avfuel.com. Such changes may affect AVTRIP Points already accumulated in Participantsí Accounts. All AVTRIP Points and AVTRIP Awards must be earned and used according to the terms and conditions of these Guidelines. Avfuel reserves the right to interpret and apply the policies and procedures contained in these Guidelines. All determinations by Avfuel shall be final and conclusive in each case. These Guidelines supersede all previously issued Guidelines.
Participation in the AVTRIP Program is void where prohibited by law.