Exar offers a comprehensive package of benefits designed to enhance the quality of life and good health of all its employees and their families. The following is an overview of EXAR's benefit plans.
MEDICAL / VISION / DENTALMedical
Exar Corporation employees have a choice of three medical plans. Full-time, regular employees and their dependents are eligible to enroll on the first day of employment. EXAR pays 100% of the employee's premium cost and a portion of each dependent's premium cost.
The following medical plans are offered:
- CIGNA HEALTHCARE - Preferred Provider Organization (PPO)
- CIGNA HEALTHCARE - Point-Of-Service (POS)
- KAISER FOUNDATION HEALTH PLAN (HMO)
Vision
Vision Services Plan is offered to all regular, full-time employees who enroll in one of Exar's group medical plans. Benefits through a VSP provider include: Eye exams, Materials (Lenses and Frames) and Contact Lenses.
Dental Benefits
Full-time, regular employees are eligible to enroll for dental coverage as of the first day of employment. EXAR pays 100% of the employee's premium cost and shares the premium cost for dependent coverage. As a participant, you can choose a dentist from the Preferred Dental Provider (PDP) Network or a non-network provider whenever you need dental care.
DISABILITY PROTECTION
Sick Leave
Exar provides temporary compensation to regular, full-time employees who are unable to work due to their own or to an immediate family members personal illness or injury.
EDIP - (EXAR Disability Income Plan)
EXAR employees who reside in the state of California are covered under a self-insured disability program. This program pays a temporary disability benefit for a non-occupational illness or injury. EXAR Disability Income Plan (EDIP) replaces the State of California Disability (SDI)
Voluntary Short Term Disability
Eligibility begins the first day of employment for employees who are working in the United States. The Company shares the premium cost with the employee. The short-term disability benefit is designed to supplement Exar's base disability programs.
Long Term Disability
This plan is effective on the first day of employment. EXAR pays the entire premium so there is no cost to the employee. Provides benefits for continuous disabilities lasting more than one year.
HOLIDAYS & VACATIONS
Holidays
EXAR provides 11 paid holidays per calendar year. A predetermined number of these are personal floaters that can be used at your own discretion for various reasons such as religious observance, birthdays, anniversary or extended vacation time.
Vacation
Time off from work is important for employees and their families. Exar offers a very competitive vacation package, which starts accruing upon the employee's first payroll cycle.
SURVIVOR BENEFITS
Exar makes a significant contribution to a family's financial security by providing life insurance coverage under the following plans at no cost to the employee.
Life Insurance and Accidental Death & Dismemberment
Your life insurance coverage is equivalent to two times your annual base salary up to a maximum of $500,000. The AD&D coverage provides an additional two times your annual base salary.
Business Travel Accident Insurance
This plan is effective anywhere in the world while traveling on authorized company business. It provides a $200,000 death benefit. This benefit also covers full and partial paralysis.
Seat Belt Insurance
To help prevent auto injury and death, EXAR provides an incentive to employees to use seat belts. The seat belt benefit is the lesser of $50,000 or the amount of the AD&D.
Supplemental Life Insurance
In addition to the above plans, the Company offers employees the opportunity to purchase additional life insurance for themselves, their spouse and/or their dependent children. Supplemental life insurance is provided at favorable rates through payroll deduction.
PRE-TAX BENEFITS
Flexible Spending Accounts
- EXAR's flexible spending account plans allow employees to pay for the following expenses with pre-tax dollars.
- Dependent Medical/Dental Premiums
- Out-of-pocket Medical/Dental expenses
- Dependent /child care expenses
- Qualified commute expenses
Exar Corporation Retirement Savings Plan - 401(k)
EXAR offers all eligible employees an opportunity to enroll in a tax deferred savings plan for retirement at the time of hire. Employees may defer, on a pre-tax basis, up to 25% of their compensation to a maximum determined by the IRS each calendar year. EXAR matches up to the first 6% of qualified compensation.
RECOGNITION & INCENTIVES
- Individual Incentive Programs - At Exar, every employee participates in an Incentive Program to encourage employees to do their very best in the performance of their jobs.
- Service Awards - Exar appreciates and recognizes employees' dedication and contribution to the long-term success of the company with a variety of service awards.
- Employee Referral - Exar provides cash awards up to $3,000 to employees whose referred candidate is hired by the company.
ADDITIONAL BENEFITS & SPECIAL PROGRAMS
Employee Stock Participation
EXAR offers eligible employees an opportunity to participate in the Employee Stock Participation Plan at the beginning of each calendar quarter. Employees can purchase EXAR stock at a discounted price of 95% of the fair market value.
Educational Assistance
EXAR's Educational Assistance Program is designed to help pay for continuing education expenses including reimbursement of tuition, lab fees and required registration fees.
Employee Assistance Program
Professional help is available to full-time, U.S. employees of Exar when personal issues arise concerning their work or personal life.
Exar Scholarship Program
Exar supports education through annual scholarships awarded to selected dependent children of eligible employees.
Training and Development
EXAR encourages personal career development for employees. Periodically the Company will assess training requirements to ensure offered courses accurately reflect the needs of the employees. Training programs are offered in a number of areas.
A GREAT PLACE TO WORK!
- On-site Cafeteria and Food Service
- "Employee Edge" - on-site company store
- Club "EXARcise" - a state-of-the-art, on-site fitness center
- Wellness program
- Entertainment and travel discounts
Benefits Briefing
The descriptions of the benefits and policies are summary statements only and are not intended to be definitive. In all instances, the full text of the plan, policy or other appropriate documents must be reviewed to determine the rights, benefits and obligations of employees and of Exar.