Sovereign Referrals and Rewards

The Sovereign Referrals program was launched in July of 2006, and the Sovereign Rewards program was launched in 2003 - both through various internal publications. The SovReferral web-based application was designed to simplify the referral process and provide a real-time tracking system that allows tracking of referral results, identifies areas of opportunity for coaching, and recognizes strong performers. The Sovereign Rewards web-based application offers incentives designed to motivate Team Members by offering them the chance to earn points on various products or services and use those points to purchase whatever they wish from thousands of incentive reward options. Additional internal promotions further engaged Team Members by driving them back to the website.

SovReferrals allows all Team Members to refer customers or prospects by submitting qualified referrals to another Sovereign Bank line of business (LOB) through a user-friendly website. This interface features easy-to-follow instructions and online links to reference tools that help assure that referrals meet the criteria established by the receiving LOB. The real-time system centralizes and standardizes the processing of customer referrals and allows each LOB the opportunity to modify its online referral form to meet its individual business needs. �Call to Action/Reminder� emails are auto-generated when a referral is submitted and as its status changes throughout the process. Additionally, �reminder� emails can be sent to a recipient that has acted upon the referral. Extensive, real-time reporting can be customized through the use of filters such as status of referral, date range or hierarchy groups, among others. Individual Team Members can also follow the referrals they have submitted from initiation through close and keep track of incentives earned or points earned towards Sovereign Rewards.

Sovereign Rewards is the customized Performance Recognition Online (PRO�) System that provides each Team Member with a personal bank of SovReferral points and the opportunity to spend them on thousands of rewards ranging from gift cards and brand-name merchandise to a range of individual travel experiences. The total amount of points an individual can earn is based on the referral incentive created and implemented at that time as well as other sales opportunities created throughout the year.