Benefits Summary

Universal Electronics Incorporated Benefits Summary - The Benefits of Joining our Team We provide a comprehensive benefits program designed to make employees' lives better. We offer a wide range of benefits with built-in flexibility. Employees can tailor their benefits selections to their lifestyles and the needs of their families and themselves. Our benefit programs are as follows: Savings and Investment 401 (k) Plan - Security for tomorrow Employees may contribute from 1% to 15% of total pay on a pre-tax basis through payroll deduction. Universal matches 50% in the form of Stock (i.e., $.50 match for every $1.00 contributed). 100% vesting occurs when the employees reaches five years of service. Regular full-time employees are eligible after completing 1000 of service. Flexible Spending Account We sponsor an employee benefit program known as the Universal Electronics, Inc. Flexible Spending Plan. Options include two benefit programs - a Health Care Account and a Dependent Care Account. The program allows employees to use pre-tax dollars to pay for them by entering into a salary reduction arrangement. This plan helps because the benefits an employee elects are non-taxable. Medical Universal offers three (3) options for medical benefits through Aetna. Employees' options are a Health Maintenance Organization (HMO), a Preferred Provider Organization (PPO) and a Point-of-Service plan (QPOA). The HMO plan is offered as a no cost plan to employees and dependents. Prescription Drugs Employees' prescription coverage is provided through Aetna and based on a listing of preferred drugs that are approved by the FDA. There are co-pay options for HMO/QPOS and PPO plans. Dental The dental plan is offered as a no cost plan to employees and dependents. This plan offers reimbursement upon services received by a MetLife network dentist. If an employee receives services by a non-network dentist, services are reimbursed at a lower percentage. Eligibility occurs after thirty days for full-time salaried employees working a minimum of 35 hours a week or after 120 days for full-time hourly employees working a minimum of 35 hours a week. Vision Vision coverage is provided by Aetna and through MetLife. Life Insurance and AD&D This is paid coverage (no cost) available upon date of hire, provided through Jefferson Pilot Financial and is based on employee earnings. Patent Incentive Plan Employees are encouraged to submit patent ideas using Universal's guidelines and standardized forms. Employees whose patent ideas are accepted for further development are eligible for incentive payments described in our policy statement. Vacation Universal offers eighty hours of paid vacation to newly hired employees and accrued hours increases after five years of service. Holidays Regular full-time employees are eligible for 10 paid holidays per year. Sick Leave Policy Regular full-time employees are eligible for five days (40 hours) allotted per calendar year for sick leave. Tuition Reimbursement Regular full-time employees are eligible for tuition reimbursement if they have been employed by Universal for three consecutive months. Reimbursement expenses include the major portion of tuition plus the full cost of books, lab fees and instructor-specified supplies. The maximum amount of reimbursement for which an employee is eligible in a 12-month period is $3,000 for undergraduate level courses and skill-improvement courses and $4,500 for graduate-level courses. Other services include but are not limited to: Incentive & Bonus programs based on eligibility; Employee Assistance Program; Direct Deposit; Short & Long Term Disability; and Leave of Absence.