Benefits

Medical Coverage

• Eligibility

  All regular full-time employees are eligible on their date of hire

• Employee Contributions

  Approximately 10-15% of premium.

• Preferred Provider Organization (PPO)

  You retain the freedom to choose any medical provider at the time you or your dependents need medical care. Benefits are paid at 90% if you choose an in-network provider, and 70% if you choose an out-of-network provider. After reaching your annual out-of-pocket maximum, either in-network or out-of-network, benefits are payable at 100%.

• Health Maintenance Organizations (HMOs)

  Medical care must be arranged through your personal Primary Care Physician. You may choose a different Primary Care Physician for yourself and each member of your family. Benefits are paid at 100%, although a small co-payment is required for some services. There are no deductibles, maximums or claim forms.

Dental Coverage

• Eligibility

  All regular full-time employees are eligible on their date of hire

• Employee Contributions

  Approximately 10% of premium

• Description

  Use any dentist
  Preventative and diagnostic: 100%
  Basic services: 80%
  Major services and orthodontia: 50%
  $50 individual and $150 family deductible for basic and major services
  Maximum benefits per calendar year: $1,500 per person
  Separate $1,500 lifetime orthodontia per person

Vision Coverage

• Eligibility

  All regular full-time employees are eligible on their date of hire

• Employee Contributions

  Approximately 10% of the premium

• Description

  VSP providers

  Vision Examination
  Once every 12 months
  $20.00 co-pay

  Lenses
  Once every 12 months
  $20.00 material co-pay
  (combined with frames)

  Frames
  Once every 24 months
  $20.00 material co-pay
  (combined with lenses)

  Contact Lenses
  (in lieu of exam, lenses and frames)
  Once every 12 months
  $20.00 material co-pay
  $100 allowance

Basic Life Insurance

• Eligibility

  All regular full-time employees are eligible on their date of hire

• Employee Contributions

  None

• Description

  1. Life Insurance equal to two times annual base salary. Maximum benefit of $1.25 million, combined with any optional life insurance elected.
  2. Accidental Death and Dismemberment equal to one times annual base salary. Maximum benefit of $1.25 million, combined with any optional Personal Accident coverage elected.

Supplemental Life Insurance

• Eligibility

  All regular full-time employees are eligible on their date of hire

• Employee Contributions

  Optional Life premiums are based on an age-rated table. Optional Personal Accident Insurance depends on coverage amount.

• Description

  1. Optional Life Insurance allows you to purchase additional life insurance in the following amounts:
     1. Employee: up to five times annual base salary (see limit above)
     2. Spouse: up to a maximum of $100,000
     3. Children: $5,000 to $25,000
  2. Personal Accident Insurance provides you with the opportunity to obtain additional accidental death and dismemberment insurance for you and your eligible dependents. Coverage may be elected in amounts up to six times your annual base salary for yourself (see limit above), up to 50% of your coverage for a spouse, and lesser of 20% or $10,000 for children

Salary Continuation/Accident and Sickness

• Eligibility

  All regular full-time employees are eligible on their date of hire

• Employee Contributions

  None

• Description

  Your monthly benefit will be reduced by other payments you receive including State Disability (if applicable), Social Security and Workers' Compensation.

  1. Salary Continuation (Medical leave)
     100% of salary for a minimum of 4 weeks and maximum of 26 weeks, based on years of service.
  2. Accident and Sickness (Medical leave)
     66 2/3% of salary -- Begins after salary continuation for a combined maximum of 26 weeks

Long Term Disability

• Eligibility

  All regular full-time employees are eligible on their date of hire

• Employee Contributions

  None for Company-paid basic benefit.
  Optional additional level of benefit paid for by employee

• Description

  Your monthly benefit will be reduced by other payments you receive including State Disability (if applicable), Social Security and Workers' Compensation.

  1. Benefit begins after 26 weeks of total disability
  2. Basic benefit: 60% of base salary; maximum monthly benefit of $7,500
  3. Optional additional brings total benefit to 66.7% of base salary; maximum monthly benefit $20,000

Eligibility

All regular employees scheduled to work at least 20 hours/week are eligible on their date of hire

Employee Contributions

You may elect to have up to $5,000 of your salary taken pre-tax and placed in each of two accounts:

• Health Care
• Dependent Care

Description

Allows you to save on taxes by using these dollars specifically toward unreimbursed health care and unreimbursed dependent care expenses.

Salary deferred to Flexible Spending Accounts is not subject to Social Security (FICA) taxes. The program is subject to current tax law and IRS rules

• Health Care Reimbursement Account You may redirect up to $5,000 of your salary tax-free annually to pay for unreimbursed health care expenses such as deductibles and co-payments, routine physical and eye exams, eyeglasses and contact lenses
• Dependent Care Reimbursement Account You may redirect up to $5,000 of your salary tax-free annually to pay for eligible childcare and dependent care expenses

Eligibility

All regular employees scheduled to work at least 20 hours/week are eligible on their date of hire

Employee Contributions

1%-17% of your base compensation up to the annual maximum dollar limit established by the IRS

Description

A variety of investment choices are offered through Fidelity Investments.

• Option of saving with pre-tax and after-tax dollars or a combination of both through payroll deduction
• Mindspeed currently matches up to 50% on the first 4% of employee contribution. Match starts immediately.
• Immediate and full vesting of all contributions and match
• Loan provisions

Eligibility

All regular employees scheduled to work at least 20 hours/week are eligible on their date of hire; must be on payroll at start of enrollment period

Employee Contributions

Up to 10% of compensation (includes bonuses) through payroll deductions

Description

• Opportunity to purchase Mindspeed stock at 95% of fair market value on last day of offering period.
• Six month offering periods
• No minimum holding period required once stock is purchased

Holidays

• Eligibility

  All regular full-time employees are eligible on their date of hire

• Description

  Paid holidays include:

  1. New Year's Day
  2. Good Friday
  3. Memorial Day
  4. Fourth of July
  5. Labor Day
  6. Thanksgiving Day
  7. Day after Thanksgiving
  8. Christmas Eve
  9. Christmas Day
  10. New Year's Eve
  11. Plus three floating holidays usually used during the Christmas period.

Vacations

• Eligibility

  All regular full-time employees are eligible on their date of hire

• Description

  Accrued monthly and is based on years of uninterrupted service

  1. New hire to 2 years 10 days
  2. 2.1 to 4 years 13 days
  3. 4.1 to 9 years 15 days
  4. 9.1 to 13 years 18 days
  5. 13.1 years and up 20 days