2024 SIGN-ON BONUS PROGRAM POLICY & UPDATES

Audience

This Policy applies to all new Salon Professionals hired or rehired on or after 2/1/2024.

Policy Statement

Hair Cuttery Family of Brands at times promotes sign-on bonuses as an incentive to encourage licensed Stylists to apply for employment with the Company and join our team!

If you are hired by the Company and remain continuously employed with the Company for the requisite number of days, and all other conditions set forth below are satisfied, the Associate will be eligible to receive the appropriate sign-on bonus.

General Eligibility Requirements

• Associates must be hired into a position that offers a sign-on bonus incentive.
• Hires joining the FuturePRO program as Student to Work must be enrolled in Beauty School.
• Associates must be in active status and in good standing at the time bonuses are awarded.
• The Associate will receive the sign-on bonus, less applicable taxes. Payment will be made based on the terms established by the sign-on bonus in place at the time.
• Associates on approved leave will receive the bonus payments on the next regularly scheduled payroll upon the Associate’s return.
• Bonuses are offered for a limited time only and are only applicable to new hire stylist positions working fulltine averaging 30 or more hours per week. Associates hired on a part-time or seasonal basis are not eligible for the sign-on bonus.
• Associates previously employed by Hair Cuttery Family of Brands are not eligible with the exception of the following rehire provisions:
  • If previously employed by HCFB, the rehire will only be eligible if:
    • It has been more than 90 days since the last separation date. If less than 90 days the rehire is not eligible.
    • The rehire was not paid a sign-on bonus when previously employed.
      • If a previous sign-on bonus was paid, the rehire will be eligible for the sign-on bonus after completing 6 months of employment, with 50% paid at 6 months and 50% at 12 months, minus any bonus amounts previously paid.
      • If the rehire DID NOT get a sign-on bonus previously, they will then be eligible per the applicable terms of the bonus.
    • Rehires eligibility must be verified and confirmed by Human Resources.
• For bonuses where goals and targets are required, bonuses are paid if goals/targets are met or exceeded.
• Unless approvals are obtained in advance from the VP of Operations and the VP of HR, bonuses are paid in the amounts and intervals established for the specific bonus program.
• Any disputes or interpretations of this bonus program will be determined by the VP of HR.
• Nothing in this Policy creates a contract of employment for any specific duration or modifies your at-will employment status with the Company.

Program details effective 2/1/2024 and replaces any previous sign-on bonus program and subject to change without notice by HCFB.

Eligible candidates will receive payouts noted below:

• FuturePRO placements for Bonus Amount of $750.00. Payment terms below.
  • $150 paid upon hire in first paycheck based on associate start date.
  • With remaining bonus payments to start once converted to a licensed Stylist at full-time hours (30+/week) based on payout schedule noted below:

Stylists at S1, S2 or D1 placements for Bonus amount of $750.00. Payment terms below.

• Payouts are based on associate start date based on the payout schedule below:

Advanced Level Placements (D2 and above)

• Positions Eligible :
  • Stylists (Advanced Level Placement) at D2, SD1, SD2, MD1, MD2 placement levels
  • Assistant Salon Leaders
  • Salon Leaders
• Must perform at or above the established minimum CPG threshold for the level per week and be working full-time hours (30+/week) at the time of payment to be eligible.
• Payments are made on the first check, at 90 days, 6 months, and 12 months from the new hire start date based on the payout schedules below.
• After the first payment, the remaining amounts will be paid based on the 13-week average for the CPG level achieved at the time of payment, not to exceed the CPG level placement. If performance is below D2, payments will be made following the CPG level achieved.