Get Great Benefits!

Cogent provides the following benefits which comprise a generous portion of the salary package for eligible employees. All benefits are subject to plan requirements and eligibility periods, and may change at any time at Cogent’s discretion. Most benefits are only available to employees who are scheduled to work a minimum of thirty hours regularly each week, on a regular, full-time basis. For benefits which are also offered to part-time employees, you will see an asterisk (*) after the coverage name.

*Employee Stock Ownership Fund (ESOF): Employees are what makes Cogent great. We believe everyone desires to be successful and deserves a stake in the outcome, thus Cogent provides an ESOF. The ESOF emphasizes the idea that everyone’s opinion and hard work contribute to the success and prosperity of our company. The program aligns with several of our core values – one of which is sharing the financial success of the company. Cogent employees are shareholders and enjoy the responsibilities of company ownership. Cogent is best in class – best products, people, service, and the best compensation relationship with our people. The ESOF is an IRS defined benefit plan and all employees, who complete Cogent 101 Financial Literacy training, and work at least 1000 hours each year are eligible to participate beginning January 1 of the following year. Please see the vesting schedule in the plan documents.

*Cogent Bonus Plan:  The Cogent Bonus Plan allows for employees to be paid a bonus each time a new level of operating profit has been conquered. Eligibility begins after 90 days of employment.  Bonuses are based upon operating profit level reached and full-time or part-time employment status.

*401(k) Retirement Plan Optional 401(k) payroll deduction savings plan where the employer matches 30% of the first 8% of compensation you defer into the plan each pay period. Unless you request otherwise, you are automatically enrolled after 30 days of employment at a 5% deferral rate.  Roll-overs from qualified plans can be made immediately.  Employees are 100% vested after seven years of employment.

PTO (Paid Time Off): Cogent utilizes PTO (paid time off) for computing vacation, sick leave and personal time off. Accrued hours are available for use after 90 days of employment. Accrual rates shown below are based on years of service and accrued bi-weekly each pay period. Cogent pays on alternating Fridays resulting in 26 pay periods per year.

PTO Donation Program:  To assist fellow employees in times of need, the PTO Donation Program allows employees to donate PTO to employees who have used their own PTO due to family illness, death or personal crisis.  Employees may donate up to 40 hours of their PTO.

Holidays:  You will receive paid time off for the following eight (8.5) holidays:

Short & Long-Term Disability Insurance:  Short and long-term disability insurance is provided to you, covering 100% of the premium cost. Short term disability coverage equals 60% of your monthly pay up to $2,000 per week.  Long term disability coverage equals 60% of your monthly pay up to $10,000 per month.  Eligibility for both plans begins the first day of the month following 30 days of employment.

Medical Insurance:   Medical insurance is provided to you and your dependents on a pre-tax basis through Blue Cross Blue Shield. There are four plan options available. For more information about each plan, please refer to the benefit summary. Eligibility begins the first day of the month following 30 days of employment.

Health Savings Account (HSA):  Should you elect coverage under Cogent’s high deductible medical plans (marked with a ^ above), Cogent will place a lump sum contribution into your account on January 1 (or for new hires: the month in which your benefits start) which you can use to assist in you and/or your dependent’s health care expenses. Then, Cogent will match your contributions into the account throughout the year. The max annual contributions are $750 for those who elect individual coverage and $1,500 for those with family coverage (the max amount combines the match and lump sum deposit). This plan allows you to contribute tax-free money; it grows tax-free and can be withdrawn tax-free for qualified medical expenses.

Critical Illness: Critical Illness pays a lump sum benefit directly to you upon diagnosis of a covered condition. These conditions include: heart attack, end stage renal (kidney) failure, paralysis, coma, stroke, coronary bypass surgery, major organ transplant, cancer, etc. For the complete list, please see the benefit summary. You have the option to purchase either 10,000 or $20,000 in coverage, please see Ascentis for the rates. Eligibility begins the first day of the month following 30 days of employment.

Accident (Supplement to Medical Plans): An optional accidental plan can be purchased on you, your spouse, and dependents. This plan pays you directly for an accidental injury, such as fractures, burns, and dislocation. Eligibility begins the first day of the month following 30 days of employment.

Hospital Indemnity (Supplement to Medical Plans): An optional hospital indemnity plan can be purchased on you, your spouse, and dependents. This plan pays you an initial confinement benefit and a daily hospital benefit upon admission. Eligibility begins the first day of the month following 30 days of employment.

 Premium Reduction for Biometric Screenings:  Cogent wants to reward employees for taking a step towards wellness. For Cogent medical plan participants, you can receive a premium reduction for your medical plan simply by getting a biometric screening and obtaining a report from Blue Cross Blue Shield regarding your health status. For employees, this reduction is $5 per pay period (up to $130). And, if your spouse is on the plan and enters his/her results, an additional $5 per pay period (up to $130 for a combined total of up to $260).

Healthcare Flexible Spending Account (FSA):  For those not covered by the Health Savings Account (HSA), the Healthcare FSA allows you to use pre-tax dollars to pay for medical care expenses (including deductibles, co-pays, prescriptions, eye glasses and orthodontics).  You may elect to contribute up to $2,700 annually. You may enroll the first of the month following 30 days of employment.

Dental Insurance:  Dental insurance is provided to you and your dependents on a pre-tax basis through Principal. There are two plan options available. Enhanced coverage includes orthodontia. For more information about each plan, please refer to the benefit summary. Eligibility begins the first day of the month following 30 days of employment.

Vision Insurance:   Vision insurance is provided to you and your dependents on a pre-tax basis through Principal. In-network, covered-in-full benefits (after applicable copay) include a comprehensive exam, eye glasses with standard single vision, lined bifocal, or lined trifocal lenses, standard scratch-resistant coating and the frame, or contact lenses in lieu of eye glasses.  Eligibility begins the first day of the month following 30 days of employment.

Dependent Care Flexible Spending Account (FSA):  The Dependent Care FSA allows you to use pre-tax dollars to pay for your dependent’s child care.  You may elect to contribute up to $5,000 annually.  You may enroll the first of the month following 30 days of employment.

Group Life and Accidental Death & Dismemberment Insurance:  Company-paid life and accidental death & dismemberment insurance is provided to you in the amount of $30,000.  Eligibility begins the first day of the month following 30 days of employment.

Voluntary Life Insurance:  Optional voluntary life insurance can be purchased on you, your spouse and/or child(ren). Guarantee issued amounts are up to $150,000 for employees, $30,000 for spouse, and $10,000 for child(ren).  Eligibility begins the first day of the month following 30 days of employment.

Tobacco-Free Incentive:  Cogent will reward you to stop smoking tobacco! Once you sign the agreement and complete three months without smoking, Cogent will reimburse you for cessation aids up to $500. Once you remain tobacco-free for a full year, Cogent will pay you a $500 bonus.

Pet Insurance:  Optional pet insurance can be purchased for eligible pets (dogs and cats) through the ASPCA Pet Health Insurance Program. You choose the level of coverage, optional wellness packages, and the premium level. Multiple pet discount available. Eligibility begins the first day of the month following 30 days of employment.

Identity Theft Protection:  Optional identity theft protection can be purchased for you or your family. The plan offers proactive identity and credit monitoring.  Eligibility begins the first day of the month following 30 days of employment.

 Legal Insurance: Optional legal insurance is available. There are no deductibles, claim forms, or usage limits. There are more than 13,500 attorneys covering all 50 states. The plan provides full coverage for common legal matters such as: home and real estate, estate planning, living will preparation, family and personal civil lawsuits, vehicles and driving. Eligibility begins the first day of the month following 30 days of employment.

Bereavement Leave:  In the event of an immediate family member’s death, Cogent will provide you with five days paid leave.  For other qualifying family members, three days of paid leave will be provided. Please see the employee handbook for further details.

*Employee Discounts: As an employee of Cogent, you also receive discounts through several companies. They are listed below with pertinent information. More detailed information is listed in Employee Self Service.

 Tool Reimbursement: Cogent, Inc. offers tool reimbursement to regular, full-time employees who work in service centers and classified as a “Service Technician” or “Machinist”. Every twelve months (12) each Service Technician or Machinist can be reimbursed up to $500.00 for tool purchases.  New employees who do not own the required tools may receive up to $1,000.00 in reimbursement after 90 days of employment.  If new employees already have the required tools they will be eligible for the $500.00 reimbursement. New employees that use the $1,000.00 reimbursement at hire will not be eligible to participate in the $500.00 yearly tool reimbursement until their third year of employment.

 About this Summary:  This document describes the benefit plans available to you as an employee of Cogent, Inc. The details of these plans are contained in the official Plan Documents, including some insurance contracts. This document is meant only to cover the major points of each plan. It does not contain all of the details that are included in your Summary Plan Description (SPD) (as described by the Employee Retirement Income Security Act). If there is ever a question about one of these plans, or if there is a conflict between the information in this guide and the formal language of the Plan documents, the formal wording in the Plan Documents will govern. Please note that the benefits described in this guide may be changed at any time and do not represent a contractual obligation on the part of Cogent, Inc.