A Summary of Benefits from MKS Instruments

The following is a brief summary of the benefits offered to you by MKS. It does not contain complete details on every plan. The actual terms and conditions of each program are defined with plan documents available for review in the Human Resources Department.

Retirement Income Plan:

401(k) Savings Plan:
All regular employees are eligible to participate in the 401(k) Plan after 30 days of employment. If you do not actively enroll within 30 days of hire, you will automatically be enrolled in the Plan at a contribution rate of 3%, which will be deducted from your second paycheck after the 30 day eligibility period ends. You may opt out of the Plan within the 30 day eligibility period and as soon as you receive your first paycheck by calling Fidelity. An employee may contribute 1-50% of earnings on a pretax basis, up to the IRS limit. MKS will match your contributions to the Plan up to 3% of your compensation. To take full advantage of the match you will need to contribute 6% of your compensation and MKS will match 50 cents on each dollar you contribute up to 3%. You are always vested in your own contributions and earnings. Vesting in the discretionary company match and Profit-Sharing Plan (if any) is after the completion of 1 year of service. We also offer a Roth 401(k). Both the Roth 401(k) and traditional 401(k) are subject to the annual IRS limits.

Employee Stock Purchase Plan (ESPP):

The ESPP provides you with an opportunity to purchase MKS stock, through payroll deductions of up to 10% of your gross earnings, at a 10% discount. The purchase price for MKS stock will be 90% of the closing price for the stock on the first or last day of each 6 month plan cycle, whichever is less.
Eligibility: All regular employees with 3 months of employment with a normal work schedule of at least 20 hours per week.
Enrollment is June 1st or December 1st after meeting the eligibility requirements.

Medical Insurance:

MKS offers employees medical coverage through Blue Cross Blue Shield (BCBS), and in California the Kaiser HMO. All plans offer an extensive network of quality physicians, hospitals and medical care providers.
Eligibility: All regular full-time and part-time employees working at least 20 or more hours per week.
Eligibility Date: Your Eligibility Date is the date you commence active work for MKS.

Dental Insurance:

MKS Dental Plan is administered by Delta Dental. The plan offers two options of dental coverage to meet your dental needs. The Basic Plan covers in network services for Preventive Care at 100% and Basic Restorative Care at 80% after a deductible. The Enhanced Plan covers the same as the Basic Plan, plus Major Restorative Care and Orthodontia (lifetime max of $1,500, up to age 19) at 50% after a deductible within the network.
Eligibility: All regular full-time and part-time employees working at least 20 or more hours per week.
Eligibility Date: Your Eligibility Date is the date you commence active work for MKS.

Vision Coverage:

The EyeMed Benefit plan provides two options of vision coverage. The Basic option provides for an eye exam once every Plan Year with a $10 co-payment. The Enhanced option also offers an eye exam once every Plan Year, but in addition, offers coverage for lenses, frames and contact lenses after a small deductible. This benefit offers opportunities for discounted fees on Laser Vision Correction.
Eligibility: All regular full-time and part-time employees working at least 20 or more hours per week.
Eligibility Date: Your Eligibility Date is the date you commence active work for MKS.

Basic Life and AD&D Insurance:

MKS provides basic life and AD&D insurance coverage at no cost. This coverage is equal to (1) times the employee's annual salary rounded to the next higher thousand, maximum of $400,000, subject to imputed income.

Supplemental Life and AD&D Insurance:

This plan provides employees the opportunity to purchase additional coverage (above and beyond the Basic Life provided by the Company). You may elect up to 5 times your annual salary rounded to the next higher thousand to a maximum of $1,400,000 when combined with Basic Life Insurance. The guaranteed issue amount is 3 times annual salary to a max of $500,000. Costs are payroll deducted and based upon age and amount of insurance.

Dependent Life Insurance and AD&D:

This plan provides employees with the opportunity to purchase coverage for their eligible dependents. Spouses may be covered for increments of $10,000 up to $250,000, not to exceed 50% of the employee insurance amount, and children for $10,000 each

Business Travel Insurance:

This MKS plan provides for 5X annual base salary up to a maximum of $500,000 benefit in case of accidental death or dismemberment that occurs while traveling on company business.

Short Term Disability Insurance Plan:

This plan provides salary continuation payments if you are absent from work because of a non-occupational illness or accident. Benefits will be 60% of your weekly base pay to a maximum of $2,500 per week. This insurance provides you with salary continuation benefits in the event you are temporarily disabled. Coverage will continue for the duration of your disability up to a maximum of 26 weeks. The cost for your short-term disability insurance plan is paid by MKS.

Long Term Disability Insurance Plan:

If you exhaust your short-term disability benefit, then this plan will provide further salary continuation benefits. Benefits will be 60% of your base earnings up to $10,000 monthly. Payments will begin once you have been continuously disabled for 26 weeks and will continue for the duration of your disability subject to a maximum benefit period depending on age at disability. The cost for your long-term disability insurance plan is paid by MKS.

Flexible Spending Accounts (FSA):

This plan provides an opportunity for you to contribute to a Flexible Spending Account for Healthcare and/or Dependent Care. An FSA allows you to set aside a specified portion of your pay before it is taxed for either Healthcare expenses (co-pays, deductibles, etc.) not covered under your insurance plan or Dependent Care expenses.

Holidays:

MKS observes 10 paid holidays each year, and 2 floating holidays. A schedule listing the specific holidays to be observed during the year is posted annually. The holiday must fall on a regularly scheduled workday for part time employees to receive the benefit.

Vacation:

Initially, you will earn 4.62 hours biweekly for a total of 15 days per year. As of your 5th anniversary of employment, you will accrue vacation at the rate of 17 days per year. Accrual is pro-rated for part-time employees.

Sick Time:

All full-time and part-time employees who work more than 20 hours per week are eligible for sick leave. Employees may accrue up to 5 days of sick leave in a calendar year. Accrual is pro-rated for part-time employees.

Professional Development Assistance:

MKS affords employees numerous options to accelerate learning and development in those areas where both the business and employee benefit. The most formal of these is reimbursement for tuition and related costs for courses approved in advance that employees complete at accredited, non-profit, education institutions.

Direct Payroll Deposit:

You may have all or any portion of your net pay deposited directly to the bank(s) of your choice.

Auto & Homeowners' Insurance:

MKS has partnered with Liberty Mutual Insurance Company to provide employees an opportunity to have your premiums deducted directly from your pay, on a bi-weekly basis for your auto and home policies.

Credit Union:

In the MA area MKS has partnered with the Metropolitan Credit Union.

For more information, click here to contact MKS Instruments.