Terms for SAS shareholder program
These terms (the “Terms”) govern the participation in SAS’ shareholder program (the “Program”) managed by SAS AB, org. no. 556606-8499, a limited liability company incorporated under the laws of Sweden, and having its principle office at Frösundaviks allé 1, 169 70 Solna, Sweden (hereinafter “SAS”). Participation in the Program is subject to these Terms and by applying for and being accepted as participant, you (the “Participant”), agree to be bound by these Terms as they may be supplemented and/or amended from time to time as set forth herein.
2. Participation requirements
2.1 To participate in the Program and hence be eligible to receive the benefits that correspond to the Participant’s shareholding level, as set out in Section 3 below, the Participant shall be:
(a) permanently resident in Sweden, Norway or Denmark;
(b) a direct shareholder of SAS and own at least 4,000 shares as a private individual, whereby the term “direct” shall include ownership of shares placed in a custody account or in an investment savings account (sw. investeringssparkonto), and
(c) a EuroBonus member.
2.2 For the purpose of Section 2.1(b), shareholding through endowment insurances, pension schemes or similar, as well as through an intermediate entity, does not qualify for participation in the Program.
3. Benefits and shareholding levels
3.1 Subject to Sections 4 (Application for Participation) and 5 (Annual Control), the Participant is eligible to the following benefits contingent on the total number of shares held in SAS:
(a) 4,000 shares or more, entitles to SAS’ Special Friends and Family offers;
(b) 100,000–999,999 shares, entitles to a EuroBonus Gold status, subject to the limitation in Section 2, and
(c) 1,000,000–9,999,999 shares, entitles to a EuroBonus Diamond status.
3.2 The maximum number of EuroBonus Gold statuses granted under the Program is 5,000 in each year. In the event more than 5,000 Participants are eligible to receive Eurobonus Gold status, the benefit will be allocated to the 5,000 Participants with the largest shareholding.
3.3 The benefits set out in Section 3.1(b)–3.1(c) do not include benefits that, pursuant to the EuroBonus Terms and Conditions, require the Participant to earn its status based on its own merits such as for example Life Time Gold status (e.g. earned EuroBonus qualifying points and number of qualifying flights).
4. Application for participation
4.1 To participate in the Program in a given year, the Participant shall apply no later than on 28 February (the “Application Deadline”).
4.2 The Participant applies for participation in the Program by completing and submitting an online application form on SAS’ external partner’s (InvestorPortal) website found here.
4.4 After admission to the Program, the benefits will be effective as of 1 April in the relevant year. For the sake of clarity, the benefits set out in Section 3.1(a) will be sent to the email address registered for the Participant’s EuroBonus account.
4.5 The day of verification of the participation requirements and the record date for determining the shareholding levels shall be 30 November the year preceding the Application Deadline.
4.6 A Participant will continue in the Program and be eligible to the benefits as long as the participation requirements and the shareholding level is maintained, which is subject to Annual Control as set out in Section 5.
5. Annual control
5.1 Participation is subject to annual control of fulfilment of participation requirements and relevant shareholding level. The record date for the annual control is 30 November each year (the “Annual Control”).
5.2 In order to maintain the benefits, the Participant shall continuously have held an average amount of shares entitling it to the relevant benefits set out in Section 1 during the preceding twelve (12) months prior to the relevant Annual Control. For the purpose of the foregoing, the average amount of shares will be calculated based on the sum of the Participant’s registered shareholding in its InvestorPortal account held at the end of each month during said twelve (12) month period divided by twelve (12).
5.3 If the Annual Control shows that the Participant does not fulfil either of the requirements, the participation in the Program as well as the benefits set out in Section 1(a) shall terminate as of the 1 April in the upcoming year, and the benefits set out in Sections 3.1(b)–3.1(c) shall terminate at the end of the Participant’s current EuroBonus tier level expiration date.
5.4 If the Annual Control shows that the Participant still fulfils the requirements under Section 2 but that the Participant’s shareholding has:
(a) decreased to the effect that the Participant no longer qualify in its current shareholding level as set out in Section 1, the shareholding level shall be degraded accordingly, becoming effective at the end of the Participant’s current EuroBonus tier level expiration date, or
(b) increased to the effect that the Participant qualify in a higher shareholding level as set out under Section 3, the shareholding level shall be upgraded accordingly, becoming effective 1 April.
6.1 Participation in the Program terminates pursuant to Section 5.
6.2 The Participant may at any time terminate its participation in the Program. The Participant terminates its participation in the Program either by deleting the EuroBonus number from its InvestorPortal account or by contacting VP Investor Services by using the contact information found here. The termination is effective immediately, but the Participant will receive the benefits up until 1 April.
6.3 Without prejudice to Section 5, SAS shall be entitled to terminate participation in the Program with immediate effect if the Participant, at the discretion of SAS, commits a material breach of these Terms, including but not limited to the EuroBonus Terms and Conditions.
7. Personal data
7.1 Participants are required to provide certain personal data about themselves, such as name, address, EuroBonus Number, and shareholding in SAS. SAS will only process Participants’ personal data in order to fulfil SAS’ obligations under these Terms and for purposes associated with the Program.
7.2 SAS will process Participants’ personal data as a controller and in accordance with the EU General Data Protection Regulation (2016/679) and applicable supplemental national data protection laws.
8.1 Except as provided for in any applicable mandatory law, SAS has no responsibility and shall not be liable for any costs or other damages incurred by the Participant except as expressly stated in these Terms. Further, SAS shall not be liable for any costs or damages incurred by anyone else than the Participant.
8.2 SAS has no responsibility and shall not be liable for any benefit taxation incurred by the Participant for its use of the benefits and/or the participation in the Program.
8.3 All benefits within the Program are subject to the terms and conditions applicable for such services and benefits, including but not limited to the EuroBonus Terms and Conditions.
8.4 Participant may not, wholly or partly, assign, pledge or otherwise dispose of its rights and/or obligations under these Terms without SAS’ prior written consent.
8.5 In the event any provision of these Terms is wholly or partly invalid, the validity of these Terms as a whole shall not be affected and the remaining provisions of these Terms shall remain valid.
8.6 SAS reserve the right to change and/or amend these Terms at any time without notice. The changes and amendments may concern g. the participation requirements in Section 2, the benefits and the shareholding levels in Section 3 and the related terms for the benefits, as well as the applicable deadlines for submitting the participation application.
9. Disputes and applicable law
9.1 These Terms shall be governed by Swedish law.
9.2 SAS and the Participant submit, to the extent permitted by Swedish law or regulations, to the non-exclusive jurisdiction of the district court of Stockholm to resolve any dispute that may arise out of these Terms.
9.3 For the avoidance of doubt, Section 2 is without prejudice to the Participant’s right to file a complaint or claim to the Swedish National Board of Consumer Disputes (Sw. allmänna reklamationsnämnden).
9.4 14 October 2020 and replace all previous versions thereof.
SAS’ processing of personal data
In order to participate in SAS AB’s (“SAS”) shareholder program (the “Program”) you are required to provide your name, EuroBonus number and address. This information is collected directly from you by VP Investor Services on behalf of SAS during the registration. You may also provide your e-mail address during registration in order to receive a receipt of the registration, this information is not required in order to participate in the Program. SAS will also collect information on your number of shares (per each month), your individual reference number with VP Investor Services and your Investor ID. This information is collected from VP Investor Service who has previously collected this information from you on behalf of SAS. For further information regarding who SAS shares your personal data with see below.
All personal data processed by SAS under the Program is carried out in accordance with the EU General Data Protection Regulation (2016/679) and applicable supplemental national data protection laws.
Why does SAS process your personal data?
SAS processes your personal data for the purpose of (1) fulfilling our commitments to you as set out in the terms for the Program (the “Terms”) which includes to administer your participation in the Program and provide support to you, and (2) to manage the Program and the Program’s results. If you choose to provide your e-mail address this information will be processed for the purpose of (3) providing you with a receipt of the registration.
The provision of your personal data is mandatory for us to fulfil our obligations in accordance with the Terms, with the exception for your e-mail address which is not mandatory for your participation in the Program.
On what legal grounds is the processing of your personal data based?
The processing of personal data for purpose (1) stated above, is necessary to fulfil SAS’ obligations in accordance with the Terms to which you have applied and been accepted. The processing of personal data for purpose (2) stated above is necessary to fulfil our legitimate interest in assessing the Program’s effectiveness, results and development. SAS also believes that it is in your interest to be provided with a service that is effective and meets your expectations. The processing of personal data for purpose (3) stated above is necessary to fulfil our legitimate interest to provide you with a receipt of the registration to the Program when you have requested such. We believe that our interest outweighs your interest in not having your personal data processed for purpose (2) and (3).
Who has access to your personal data?
SAS has implemented appropriate technical and organisational measures to protect your personal data. The number of persons with access to your personal data is limited. Only individuals that need to process your personal data to fulfil the purposes above have access to your personal data.
Within the Program your personal data will be shared with Scandinavian Airlines System Denmark- Norway-Sweden (a consortium established under the laws of Denmark, Norway and Sweden), (“SAS Consortium”), who acts as a separate controller for the processing, in order to fulfil SAS’ obligations under the Terms. Your data will also be shared with VP Investor Service, who acts on behalf of SAS as a processor, in order to be able to register you as a participant in the Program and collect necessary information to fulfil our obligations under the Terms. SAS may also share your personal data with other suppliers and partners that carry out services on our behalf, such as IT-suppliers.
How long will SAS store your personal data?
Your personal data will only be stored as long as necessary for the purpose for which it was collected. SAS will as a general rule store your personal data as long you are a participant in the Program and for maximum six years thereafter or as long as required under local law.
What are your rights?
SAS AB, reg. no. 556606-8499, with address Frösundaviks allé 1, 195 87 Stockholm, Sweden, is the data controller of the processing of your personal data. SAS is responsible for your personal data being processed correctly and in accordance with applicable laws. You can contact our Data Protection Officer at email@example.com.
You have the right to know what personal data SAS is processing about you, and to request a copy of such data. You have the right to have incorrect personal data corrected, and to request deletion of your personal data. You have the right to object to and request limitation to certain processing of your personal data. However, it may result in us not being able to fulfil our obligations to you. Under certain circumstances you may extract your personal data in a structured, commonly used and machine-readable format and to transfer it to another controller. If you have any questions, you are most welcome to contact us at firstname.lastname@example.org. If you have any complaints about the way SAS processes your personal data, you have the right to file a complaint with the Swedish Data Protection Authority.
If any changes are made concerning the processing of your personal data, SAS will inform you of the changes by publishing an updated version of this privacy notice on our webpage.