Tuition Assistance Program

Purpose        

This Policy was adopted by the Board of Holiday Inn Club Vacations Incorporated, and their affiliates and subsidiaries, (collectively, the “Company”), to document the Company’s policy on tuition assistance available to team members.  Because the Company values the professional and personal development of its employees, the Company has adopted the following policy pertaining to reimbursement for certain educational expenses.

Scope

All officers, directors, and team members of the Company’s business operations who meet eligibility

Eligibility

Participants must be regular full-time or part-time team members who have completed six (6) months of service before the course start date. To maintain eligibility, the team member must remain active and be performing the job satisfactorily through the completion of each course. If the eligible team member is on leave, the team member will not be reimbursed until returning to active status.

Team members may be eligible for tuition assistance for any educational courses required for the completion of a degree from an accredited college or university.  Courses must be taken at an accredited educational institution recognized by any region of the National Association of Schools and Colleges.

Technical education, certification programs and other continuing education courses are not considered part of the Tuition Assistance Program and would therefore be administered at the departmental level. These courses should be evaluated on a case-by-case basis by the department.

Policy

The Company supports team members who wish to continue their education to secure increased responsibility and growth within their professional careers. In keeping with this philosophy, the Company has established a reimbursement program for expenses incurred through approved institutions of learning.

Application

This program provides reimbursement for out-of-pocket expenses to include tuition, textbooks and certain educational fees connected with successful completion of coursework. Reimbursement is limited to $2,500 per calendar year for regular full- time team members and $1,000 per calendar year for regular part-time team members, with costs funded by the team member’s department. Eligible expenses for tuition reimbursement cannot be covered by any other payment program (such as GI Bill/grants, loans, etc.). Proof of out-of-pocket payment must be submitted for the tuition reimbursement items and must include the source of payment (loans are not reimbursable). Team members desiring tuition assistance must follow the procedure listed below:

1. Prior to course registration, team members should discuss the program with their Leader.
2. All team members must complete a Tuition Assistance Application and submit the form for approval to their Leader before being sent to Team Member Connect in step 5.
3. In the event of a denial, the team member may file a written appeal to Human Resources. Human Resources will then provide a written response to the appeal.
4. Approved applications should be retained by the team member for use when requesting reimbursement after completion of studies and receipt of grades.
5. Within 60 days of class/course/semester completion, the team member must provide documentation and/or receipts to show proof of their grade, tuition, and out of pocket expenses. The supporting documentation should be sent to Team Member Connect to include the additional application signed and approved by your leader. Team Member Connect will review the documentation, validate the reimbursable amount, and complete an Additional Payroll Request Form before sending to payroll for processing.
6. The reimbursement will then be reflected on the team member’s check.

Non-Interference with Work

Class hours must be established so as not to conflict with normal working hours. Although the company will make every effort to interfere as little as possible with class schedules, it will not automatically release team members from duties that might conflict with class schedules.

Reimbursement

Reimbursement of tuition assistance benefits will be provided based upon successful completion and receipt of applicable out-of-pocket expense statements/receipts. Please note loans are not a reimbursable expense. Successful completion will be defined as achieving a minimum grade of “C” (or “Pass”), with the following reimbursement structure:

• “A” or “B” (reimbursed at 100% of actual cost)
• “C” (reimbursed at 75% of actual cost)
• “Pass” (reimbursed at 100% of actual cost if course is taken on a pass/fail basis)

Team members that are separated due to reduction-in-force or job eliminations, or who are unable to complete the course(s) due to unforeseen business reasons, will be reimbursed the full amount of eligible expenses incurred up to the date of separation. However, team members that sever their employment or are separated involuntarily, other than reduction-in-force or job elimination, prior to completing a course(s) will not be reimbursed for any eligible expenses.

Only the following items and their associated fees/expenses are reimbursable, and only if required by the school and supported by necessary documentation. Special consideration may be made on a case-by-case basis.

• Tuition
• Books
• Laboratory fees
• Certification testing
• Certificate issuance
• Application fees
• Admission fees
• Registration
• Associated student fees
• Student activity fees
• Subject matter equivalence exams (in lieu of required courses)
• Experience assessments (in lieu of required courses)

Following are examples of fees/expenses that are not reimbursable under this program (this list may not be all inclusive).

• Optional textbooks and other optional items
• Physical examinations
• Late registrations or filings
• Changes of program/curriculum
• Dropping or adding courses
• Refundable breakage deposits
• Rescheduled examinations
• Removal of incomplete grades
• Subscriptions to school paper or other periodicals
• Transcripts
• Cap and gown rentals
• Equipment and kit costs
• Travel costs
• Personal calculators and computer equipment
• Personal computer software/programs
• Non-resident fees
• Parking fees
• Thesis/dissertation reproduction, binding, and publication
• Stationery supplies
• Loans, grants, GI bills, etc.

Note: Reimbursement for equipment may be considered on an individual basis. Generally, an item that can be used for the team member’s personal use will not be reimbursable.

Company Repayment Provision

A team member who elects to terminate employment with the company, or is terminated as outlined in the Employee Handbook, within one year of receiving tuition reimbursement, may be required to reimburse the company 100% of the amount received within thirty (30) days of departure.

Record Retention

Education reimbursement records are maintained in the team member’s personnel file.

Compliance

All team members are expected to fully comply with this Policy. Failure to comply with any portion of this Policy may be subject to in disciplinary action, up to and including termination of employment.

Exceptions

Any exceptions to this Policy must be submitted to the Legal Department for review and approval. No exceptions may be made unless approved. Submit requests at compliance@holidayinnclub.com. Failure to obtain approval prior to implementing an exception may be subject to disciplinary action.

Audit

This Policy is subject to periodic review and updates are necessary by the Risk & Compliance Officer. Audit of this Policy’s effectiveness and compliance will be conducted by Internal Audit. Revisions of this Policy shall be reviewed and approved by the Risk Advisory Committee or the then governing risk body.