1. Qualified Introduction
Subject to Pillar’s terms and conditions, for any entity (the “Introduced Entity”) to be considered a qualified introduction, such Introduced Entity (or the primary member of such Introduced Entity) must:
- sign a membership agreement with a right of access to dedicated space or private offices at Pillar no later that two (2) months from the date of Submission (as defined below);
- not be current or previous members of Pillar;
- not have previously contacted Pillar for a membership or attended a Pillar hosted event or otherwise been submitted in the 60 days prior to your Submission;
- not be (i) a subsidiary or an affiliate of the entity providing the introduction or (ii) an entity with the same parent entity as the entity providing the introducing;
2. Process
To be eligible to receive the fees (“Fee”) described in these rules, you must accept these terms and conditions. Introductions may be submitted by (i) registering a profile at pillarcowork.com/brokers, and entering all required information or (ii) contacting Pillar Management providing:
- Your first and last name or the first and last name of the primary contact for the entity with which you are affiliated;
- Introduced Entity’s name;
- Introduced Entity’s valid phone number;
- Introduced Entity’s valid email address;
You must complete a separate Submission for each Introduced Entity. You may only complete a single Submission per potential member company that you would like to introduce. Incomplete Submissions will result in ineligibility from collecting Fees until a complete Submission is received. The Introduced Entity must have granted consent to you to fill out the Submission or initiate a written or verbal exchange about this matter and you must hold a good faith belief that the Introduced Entity desires to become a member of the Pillar community.
3. Contact with Introduced Entity
Following a complete Submission, we will contact the Introduced Entity confirming our receipt of the Submission unless otherwise instructed to contact you first. By agreeing to these terms and conditions, you hereby represent that you have obtained consent from the introduced Entity to send the Introduced Entity’s contact information to Pillar Cowork for the purpose of participating in the Broker Partnership (“Partnership”) Program with Pillar described in these Terms and Conditions. The Introduced Entity will have the opportunity to inform us that (a) it is not looking for an Pillar membership and/or (b) it has not given authorization to you in connection with the introduction. If the Introduced Entity informs us that it has not given authorization to you, you will not be eligible for the Fee even if such Introduced Entity becomes a qualified introduction. If the Introduced Entity does not so inform us, you may continue to receive email communications.
For Process information refer to item 2 listed above.
4. Fees
Subject to these terms and conditions, Pillar Cowork will pay you for qualified introductions a Fee equal to a percentage of the membership fee agreed to in the initial membership agreement and paid in full by the Introduced Entity and received in full by Pillar, in accordance with the Fee structure in the table below.
| New Agreement | Term | Fee |
|---|---|---|
| First Year | 1-12 Months | 10%/mo |
| 13-24 Months | 2%/mo | |
| 25-36 Months | 1%/mo | |
| Month-to-Month | 1-12 Months | 10%/mo |
| Under One Year | 1-11 Months | 10%/mo |
| Agreement Renewal | Term | Fee |
|---|---|---|
| Any Agreement | 1-12 Months | 2%/mo |
| Expansion | Term | Fee |
|---|---|---|
| Any Agreement | 1-12 Months | 2%/mo |
| 13-36 Months | 1%/mo |
5. Client Defaults/Broker Strikes
Brokers who introduce clients that either (a) fail to pay Pillar the agreed-upon Service Retainer when due or (b) fail to pay Pillar the agreed-upon monthly membership fee when due may receive a ‘Strike’ at the discretion of the Pillar Broker Partnership Team. The Pillar Broker Partnership Program maintains a “one-strike” policy, wherein if the Pillar Management Team decides a broker has earned a Strike, commissions to that broker relating to the defaulting client will be withheld until the referred client-member clears any and all existing balances with Pillar.
In the event the client defaults and commissions have been paid out to the Introducing Broker, the commissions equal to the value of the client’s remaining term will be returned to Pillar. Once the referred client-member clears any and all existing balances with Pillar, commissions will be returned to the broker.