SUMMARY OF U.S. BENEFITS—As of July 1, 2007
ScriptLogic is pleased to offer a comprehensive benefit program for our regular, full-time employees*. A benefits summary is provided below. For more detailed information, please refer to the Company Policies or Summary Plan Descriptions.
| BENEFIT |
ELIGIBILITY |
DESCRIPTION OF BENEFIT |
Medical Coverage* |
First of the month following date of employment |
The Company offers employees the opportunity to elect medical coverage for themselves and their qualified dependents. |
Dental Coverage* |
First of the month following date of employment |
The Company offers a dental plan. The plan is available to both employees and their qualified dependents. The plan allows for enrollment in one of two plans. |
Vision Coverage* |
First of the month following date of employment |
The Company offers a vision plan. The plan is available to both employees and their qualified dependents. |
Flexible Spending Accounts |
First of the month following date of employment |
Flexible Spending Accounts allow you to set aside, via payroll deduction, part of your salary before Social Security, federal, and state taxes to pay for Health Care Expenses and Dependent Care Expenses using a Flex Card. Limits for the 2007 plan year are $3,000 for Medical, $5,000 for Dependent.
In addition, the Company offers 2 Commuter Flexible Spending Accounts. Limits for the 2007 plan year are $215 per month for Parking and $110 per month for Transit. |
401(k) Plan |
First of the month following date of employment |
This plan allows you to have money deducted via payroll deduction on a pre-tax basis to build for your retirement income. Employees can enroll on the first day of any month following date of employment. The Company provides a discretionary match based upon Company results. Your own contributions are always immediately vested. You vest in Company contributions and earnings on a 4-year vesting schedule. |
Paid Time Off |
1st day of employment |
Annual Paid Time Off is granted to eligible employees based on length of service as follows:
Year <1 |
96 hours per year/12 days
(accrued bi-weekly)* |
Year 1 – 5 |
136 hours per year/17 days
(accrued bi-weekly) |
Year 5+ |
176 hours per year/22 days
(accrued bi-weekly) |
|
Holidays |
1st day of employment |
Seven paid holidays per year: New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Day After Thanksgiving, and Christmas Day. |
Bereavement Leave |
1st day of employment |
The Company provides up to three consecutive days of paid bereavement leave if there is a death in the immediate family. |
Jury/Witness Duty Leave |
1st day of employment |
Full-time employees will be paid their regular wages during their jury duty (from 1-5 days).
The Company provides a paid leave of absence when summoned to be a witness for ScriptLogic. |
Leaves of Absence |
Based on type of leave |
Please refer to Company Policies for details. |
Referral Program |
1st day of employment |
The company will provide a referral bonus to eligible employees who refer a candidate that is hired by ScriptLogic. The referral award will be up to $3,000 (taxable) with the amount determined based on the position being hired.
The new hire referred must complete 3 months of employment before a referral award can be paid. |
Basic Term Life and Accidental Death & Dismemberment (AD&D) Insurance |
First of the month following date of employment |
This Company paid benefit will provide coverage to the employee equal to 1 x annual base salary up to a maximum of $200,000. |
Enhanced Optional Life and Accidental Death & Dismemberment (AD&D) Insurance |
First of the month following date of employment |
Employees have the option to enroll in supplemental Life and Accidental Death & Dismemberment Insurance for themselves and their qualified dependents. |
Disability Insurance |
First of the month following date of employment |
The Short Term Disability benefit provides a level of income replacement in the event of disability when you cannot work equal to 60% of weekly pay (maximum of $1,000/week). If you are totally disabled after 90 days, you may be eligible for Long Term Disability benefits. This benefit assures you of receiving 60% of your monthly salary, to max of $6,000 per month. The Company pays for the premiums for both disability benefits.
(Benefit paid under this plan is reduced by any other government provided benefit you may receive, i.e., State Disability, Social Security Disability, or Worker’s Compensation.) |
Service Awards |
Anniversary Date |
The Company recognizes the contributions of its employees with each year of employment. Awards are presented at the end of each quarter to employees reaching these service date milestones during that quarter. |
*Provided under Section 125 Pre-Tax Salary Reduction Premium Payment Plan. The purpose of the Plan is to allow eligible employees to use funds provided through employee salary reduction, to pay premiums for benefit plans offered by the Company and enable them to pay for the selected medical, dental and vision benefits(s) with pre tax dollars. You save both federal income tax and Social Security taxes by participating in the Plan.
The benefits outlined above represent a summary of the benefits provided by ScriptLogic, and are subject to change, at any time, without notice. Please refer to the details of the ScriptLogic Policies, and the terms of the benefits, on the date of hire for the actual terms.
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