Company Benefits

The following list identifies all benefits available to Flippo Construction Company, Inc. Employees; however, not all benefits are available to all employees. The degree and level of benefits received are based on the position title, experience and tenure with the company.

Employee Stock Ownership Plan (ESOP)
401 (k) Retirement Plan
Vehicle Allowance
Fuel for Vehicles
Health Insurance
Health Care Flexible Spending Account
Dependent Care Flexible Spending Account
Dental Insurance
Annual Vacation
Holiday Vacation
Life Insurance
Long Term Disability Insurance
Short Term Disability Insurance
Safety Incentive Bonus Plan
Savings Account
Employee Assistance Program (EAP)
Safety Boot Program
Prescription Safety Glasses Program
Guaranteed Work 40-32 Hours
Performance Evaluation

Employee Stock Ownership Plan (ESOP)

Effective January 1, 2000, Flippo Construction Co., Inc. established the Flippo Construction Co., Inc. Employee Stock Ownership Plan. We are pleased to announce that our share price has grown from $2.18 per share to its current $9.93 per share. Listed below are a few eligibility requirements and basic information regarding our ESOP.

All employees will be eligible to participate in the Plan on January 1 or July 1 of each year as long as he or she satisfies the following requirements: (a) He or she has attained age 21; (b) He or she has completed one year of service (12 consecutive months and at least 1,000 hours of service); Subject to the conditions and limitations of the Plan, for each plan year, The Company will contribute cash equal to and/or Company stock having a fair market value equal to the amount determined by a resolution of the Board of Directors. CONTRIBUTIONS BY YOU ARE NEITHER REQUIRED NOR PERMITTED. The Plan Administrator will maintain a cash account and stock account for each participating employee.

Participating employee's accounts shall become vested and non-forfeitable based upon his years of service as follows:

Less than 2 years 0%
2 years but less than 3 20%
3 years but less than 4 40%
4 years but less than 5 60%
5 years but less than 6 80%
6 years or more 100%

Distribution of a participating employee's vested accounts shall be made in substantially equal, annual installments over a period of not more than 5 years.

A copy of the complete ESOP may be reviewed at our Human Resources Department at the Forestville Yard. To do so, please see our Benefits Administrator. We would also like to take this opportunity to remind you of the importance of keeping your beneficiary information updated in your personnel file in our Human Resources Department. This can also be done through our Benefits Administrator .top

401 (k) Retirement Plan

Eligible after 1 year of employment
Corporate contributions made
Payroll deducted on a pretax basis top

Vehicle Allowance

Depends on job classification
Reimbursement for personal vehicle at an agreed upon amount top

Fuel for Vehicles

Depends on job classification
Provided if employee's vehicle is covered under the vehicle allowance top

Health Insurance

Payroll deducted on a pretax basis
Eligible on 1st day of the new month after 3 full month's employment
Corporate contribution made top

Health Care Flexible Spending Account (HCFSA)

Pretax benefit to reimburse out-of-pocket health care expenses
Eligible on 1st day of the new month after 3 full months of employment
Examples include prescription drugs, over the counter medications, dental work, eye examination, frames, lenses, etc. top

Dependent Care Flexible Spending Account (DCFSA)

Pretax benefit to reimburse out-of-pocket dependent care expenses
Examples include day care for children under the age of 13, disabled spouse, etc. top

Dental Insurance

Provides cost reduction for some dental services
Eligible on 1st day of the new month after 3 full months employment top

Vacation - Annual

Several vacation plans are available
Plans are based on job classification and length of service top

Holidays

(The company recognizes 7 paid holidays. Your job classification determines which holidays you will be paid for)
New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day, Day after Thanksgiving Day, Christmas Day top

Life Insurance

Eligible after 6 months employment
Life insurance - 1 x annual salary
Accidental death and dismemberment - 2 x annual salary
Provided at no cost to the employee top

Long Term Disability Insurance

Eligible after 90 days or 1 year employment
Depends on job classification
60% of annual salary, up to $5,000 monthly, after a 90 day elimination period
Provided at no cost to the employee top

Short Term Disability Insurance

Eligible after 6 months employment depending on job classification
$200 weekly for 13 weeks
Provided at no cost to the employee top

Safety Incentive Bonus Plan

Monetary bonus based on overall personal safety record top

Savings Account - BB&T

Individual savings account - Eligible after 1 day of employment
Payroll deducted top

Employee Assistance Program (EAP)

Eligible Immediately
Company pays for first three (3) visits for employee and immediate family top

Safety Boot Program

Company pays ½ of boot cost, up to $50.00
Payroll deducted top

Prescription Safety Glasses Program

Company pays for the cost of "basic" prescription safety glasses
Must use approved vendor
Upgrades are payroll deducted top

Guaranteed Work - 40 and 32 Hours

Provided to some field positions after 6 months employment top

Performance Evaluation

Provided annually in the month of your employment anniversary date top

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