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Turner BioSystems offers team members an attractive, comprehensive benefit program.

Health Insurance

All team members working at least 30 hours a week are eligible for health insurance the first of the month following date of hire.  The health insurance plans include:

• Five (5) different medical plans: 2 Blue Shield HMO plans, 2 Blue Shield PPO plans, and Kaiser HMO plan.
• Dental insurance through Delta Dental, which covers 100% of preventive care, 80% of basic care, and 50% of major care.  The $50 deductible is waived for preventive care.
• A comprehensive vision plan through Vision Service Plan (VSP), which covers an exam every 12 months, lenses (glasses or contacts) every 24 months, and frames every 24 months.
• Life insurance and AD&D insurance up to one (1) time their annual salary, with a maximum of $200,000.
• Long Term Disability coverage effective after 90 days of disability, and team members receive 60% of their monthly salary, up to a maximum of $10,000.

Additional Benefits

Turner BioSystems offers the following additional benefits to its team members:

• All team members are eligible to participate in the 401(k) Plan as of their date of hire.  The Company will match up to 3% of the team member’s contribution amount, which vests over a three- (3) year period.
• Stock options may be awarded at hire, and team members also may be eligible to be considered annually for an additional grant based on performance. The plan provides for a five- (5) year vesting period.
• Employee Assistance Program provides confidential assistance in a wide variety of areas, including legal, financial, family counseling, etc.
• Each year, in which the Company achieves targeted profits, eligible team members will receive a Profit Sharing Bonus at the end of January.
• The Company offers a $1,000 Referral Bonus for referring a candidate that fills a regular full time or part time position.
• Turner BioSystems encourages team members to broaden their education and will provide Tuition Reimbursement on qualified educational expenses.

Vacation

All regular employees begin accruing vacation as of the date of hire. Full-time team members will earn vacation at the rate of 4.62 hours each pay period, up to a maximum of 15 days each year. Part-time team members will receive vacation on a pro-rated basis.  Vacation may be carried over to the next year, and the maximum accrual is 2 times the accrual amount. Upon reaching five (5) years of service, the accrual amount increases to 5.39 hours per pay period (17.5 days per year).  At seven (7) years of service, the accrual increases to 6.16 hours per pay period (20 days per year), and finally increases to 7.70 hours per pay period (25 days per year) upon reaching 20 years of service.

Sick Time

Full-time team members will earn sick days at a rate of 2.46 each pay period as of their start date, up to a maximum of eight (8) days each year. Part-time team members accrue sick time on a pro-rated basis. Unused sick time will be carried over to the following year, however, the total amount of sick time may not exceed 30 days (240 hours).

Holidays
Turner BioSystems normally observes seven (7) holidays during the year.

New Years Day
Memorial Day
Fourth of July
Labor Day
Thanksgiving
Friday following Thanksgiving
Christmas Day
                  
The Company is normally shut down between Christmas and New Year’s Day, and two (2) additional holiday days are issued during this period.

In addition to the above holidays, team members receive one (1) floating holiday each year. Team members are able to use this day at their discretion, but it must be used by December 31, and does not roll over to the following year.  

Please Note:
This summary is not intended to replace the legal documents that describe these plans in greater detail. The provisions of these plans are subject to change at any time.