| Benefits 401(K) MATCH Bank of Oklahoma administers the 401(k) retirement fund. The plan allows for McElroy to match 100% of employee contributions after one year of employment. The percentage of match is discretionary and varies from year to year. Since its inception, the average match has been more than 25% annually. 401(K) PROFIT SHARE SOURCE CONTRIBUTION In addition to the 401(k) discretionary matching contribution, the plan also allows the Company to make a discretionary contribution equal to 3% of employees’ regular and overtime earnings. This plan has been in effect since 1978 and there has been a 3% match every year. PROFIT SHARING McElroy shares its profits with employees in March. McElroy has shared profit with its employees 48 times in the last 51 years. GAIN SHARING McElroy rewards employees in every paycheck through a gain sharing compensation program. Employees receive Incentive Units (IU) as a portion of their pay. This incentivized portion of their pay is based on the monthly shipments of the company. The more the company ships each month, the more every employee earns. This rewards the longevity of employees and allows the earnings of each employee to grow with the company. SIGNING BONUS For qualified positions, McElroy offers a $2,100 signing bonus. One-third of the bonus is paid on the first paycheck and the remainder on the paycheck after your six-month anniversary. Likewise, if you help refer an employee that is hired, you may be eligible for a $2,100 referral bonus. RETENTION BONUS McElroy appreciates their employees. Currently, a retention bonus program is in place (through 2013) that will pay employees from a prorated 40 hours up to 160 hours of pay each January for their service to McElroy. PAID VACATION 2 Weeks of vacation through 6 years, 3 weeks of vacation through 16 years, 4 weeks of vacation thereafter PAID HOLIDAYS 9 paid holidays per year – New Years Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving and the Friday after, and Christmas Day plus one additional day. PAID SICK/PERSONAL TIME Paid time is made available for use when illness or personal circumstance requires time away from work. For the year 2011 there are up to 24 hours of paid sick/personal time available. MEDICAL, PRESCRIPTION & DENTAL INSURANCE Premiums for medical, prescription and dental are bundled together into one. Medical coverage is provided by United Health Care and Dental coverage is through Delta Dental. The premiums are deducted on a pretax basis. McElroy Manufacturing pays a majority of the Health insurance premium cost monthly for both employee and FAMILY coverage. HEALTH SAVINGS ACCOUNT To offset the high deductible health plan a Health Savings Account (HSA) is provided. Employees can contribute to the account on a pretax basis. The employer may also contribute to the account. In the past McElroy Manufacturing has contributed $500.00 to $1,000.00 annually to employees that are participating with a Health Savings Account. The Employee’s Health Savings Account belongs solely to the employee. The funds contributed to an account are not subject to federal income tax at the time of deposit or when funds are used. Funds roll over and accumulate year to year if not spent. HSA funds may currently be used to pay for qualified medical expenses at any time without federal tax liability or penalty. UHC Vision Vision Insurance coverage is available for employees to purchase. WELLNESS PROGRAM McElroy Manufacturing offers a variety of options in their wellness program. These include onsite fitness center, walking, weight watchers, personal trainer, and exercise classes as well as weight watchers meetings. LIFE INSURANCE $10,000.00 Company paid Life and AD&D policy. Employees can purchase additional coverage for themselves and their family through a group policy DISABILITY INSURANCE Available for employees to purchase; premium structured so that benefit is not taxable
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