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Last Revised: May 1998

Employees working more than 20 hours per week are eligible to enroll in the Section 125 Flexible Benefit Plan. Initial enrollment must take place within the first 30 days of employment or during the annual open enrollment period.

The Section 125 Flexible Benefit Plan is based on participation for a calendar year only (January through December). Re-enrollment is required for each calendar year in which the employee wishes to participate.

Premium Only Plan: The cost of providing dependent health insurance for a spouse and/or dependent children will be deducted from the employee's pay on a tax-exempt basis. Also, employees who elect to participate in the supplemental life insurance plan (the first $10,000 of additional coverage only), the supplemental personal accident plan or the cancer care plan, will have the costs of these programs deducted from their pay on a tax-exempt basis.

Medical Expense Reimbursement Account: Employees may voluntarily elect to set aside a portion of their earnings, on a tax-exempt basis, into a medical expense reimbursement account. When an employee and/or his dependents incur a medical, dental, eye care or hearing expense that is not covered by an insurance plan, they may request reimbursement from their Section 125 account to cover the cost of these expenses.

The minimum contribution to this account is $25 per month; the maximum contribution is $500 per month. Only expenses incurred during the plan year of participation qualify for reimbursement. Expenses must be submitted for reimbursement within 90 days of the close of the plan year or the remaining fund balances for that plan year are forfeited.

Dependent Care Reimbursement Account: Employees may voluntarily elect to set aside a portion of their earnings, on a tax-exempt basis, into a dependent care reimbursement account. The contributions to this account are used to reimburse the employee for expenses related to the care of his/her dependent children in order for the employee or the employee spouse to work. Expenses for child care providers such as day care centers, baby sitters, kindergartens, and pre-schools qualify for reimbursement.

The minimum contribution to this account is $25 per month; the maximum contribution is $416.66 per month. Only expenses incurred during the plan year are eligible for reimbursement. Expenses must be submitted for reimbursement within 60 days of the close of the plan year or the remaining fund balances for that year are forfeited.