EYE » Topics » SAVINGS AND RETIREMENT BENEFITS

This excerpt taken from the EYE 10-Q filed Nov 8, 2007.

SAVINGS AND RETIREMENT BENEFITS

AMO 401(K). As an employee of AMO, you will be immediately eligible to participate and receive company matching contributions in the AMO 401(k) Plan. New employees are automatically enrolled in the AMO 401(K) plan at 4% of pay before tax. Contributions are invested in the Barclays Global Investors LifePath Retirement Portfolio which matches your retirement year, based on your date of birth. You have thirty (30) days to change or cancel your participation including the investment direction. The AMO plan permits both pre-tax and post-tax contributions by employees and provides a company matching contribution of 50% of the first 8% of compensation you contribute.


Retirement Plan. You are immediately eligible for the AMO defined contribution retirement plan feature of the 401(K) Plan. The annual contribution is based on a formula which is age and service driven.

You may invest your contributions and the company’s contributions in any or all of the 13 funds currently offered in the plan including a self directed brokerage option. In addition, this plan accepts rollover contributions from your previous employer’s qualified plan(s). The plan provides 100% vesting in the AMO 401(K) plan after three years of service. The defined contribution retirement plan provides 20% vesting for each year of service and 100% vesting after five years.

Employee Stock Purchase Plan. As an employee of AMO, you will be eligible to participate in the ESPP, currently offered by AMO. This program allows you to purchase AMO shares at a 15% discount. You may contribute 1%—10% of your pay on an after-tax basis. At the end of each six-month purchase period, the money in your ESPP account will be used to buy shares of AMO stock for you. The purchase price you pay will be 85% of the closing price on either the first trading day of the purchase period or the last trading day of the purchase period, whichever price is lower. Based on your anticipated hire date you will be eligible to participate in the open-purchase period scheduled to begin November 2007.

Deferred Compensation Plan. You also will be eligible to participate in a deferred compensation plan currently offered that allows you to defer up to 100% of your annual base pay and bonus, deferring income taxes on these amounts until you receive payments pursuant to your irrevocable election. You will receive a comprehensive briefing regarding the plan on or after your date of hire. The actual enrollment materials will be mailed to your home from the plan’s administrator (TBG Financial). You only have 30 days from receipt of the materials to enroll in this plan for the current plan year.

Executive Perquisites. You are eligible for certain executive perquisites, based upon your position as a member of the Executive Leadership Team. These are:

 

  - Car Allowance of $750 per month,

 

  - Gasoline allowance of $166 per month,

 

  - Annual reimbursement for Financial and Tax Planning services up to $6400,

 

  - Life insurance coverage of $1,500,000, provided by AMO,

 

  - Vacation accrual 4 weeks per year,

 

  - Annual Executive Physical.
This excerpt taken from the EYE 10-Q filed Nov 7, 2007.

SAVINGS AND RETIREMENT BENEFITS

AMO 401(K). As an employee of AMO, you will be immediately eligible to participate and receive company matching contributions in the AMO 401(k) Plan. New employees are automatically enrolled in the AMO 401(K) plan at 4% of pay before tax. Contributions are invested in the Barclays Global Investors LifePath Retirement Portfolio which matches your retirement year, based on your date of birth. You have thirty (30) days to change or cancel your participation including the investment direction. The AMO plan permits both pre-tax and post-tax contributions by employees and provides a company matching contribution of 50% of the first 8% of compensation you contribute.


Retirement Plan. You are immediately eligible for the AMO defined contribution retirement plan feature of the 401(K) Plan. The annual contribution is based on a formula which is age and service driven.

You may invest your contributions and the company’s contributions in any or all of the 13 funds currently offered in the plan including a self directed brokerage option. In addition, this plan accepts rollover contributions from your previous employer’s qualified plan(s). The plan provides 100% vesting in the AMO 401(K) plan after three years of service. The defined contribution retirement plan provides 20% vesting for each year of service and 100% vesting after five years.

Employee Stock Purchase Plan. As an employee of AMO, you will be eligible to participate in the ESPP, currently offered by AMO. This program allows you to purchase AMO shares at a 15% discount. You may contribute 1%—10% of your pay on an after-tax basis. At the end of each six-month purchase period, the money in your ESPP account will be used to buy shares of AMO stock for you. The purchase price you pay will be 85% of the closing price on either the first trading day of the purchase period or the last trading day of the purchase period, whichever price is lower. Based on your anticipated hire date you will be eligible to participate in the open-purchase period scheduled to begin November 2007.

Deferred Compensation Plan. You also will be eligible to participate in a deferred compensation plan currently offered that allows you to defer up to 100% of your annual base pay and bonus, deferring income taxes on these amounts until you receive payments pursuant to your irrevocable election. You will receive a comprehensive briefing regarding the plan on or after your date of hire. The actual enrollment materials will be mailed to your home from the plan’s administrator (TBG Financial). You only have 30 days from receipt of the materials to enroll in this plan for the current plan year.

Executive Perquisites. You are eligible for certain executive perquisites, based upon your position as a member of the Executive Leadership Team. These are:

 

  - Car Allowance of $750 per month,

 

  - Gasoline allowance of $166 per month,

 

  - Annual reimbursement for Financial and Tax Planning services up to $6400,

 

  - Life insurance coverage of $1,500,000, provided by AMO,

 

  - Vacation accrual 4 weeks per year,

 

  - Annual Executive Physical.

EXCERPTS ON THIS PAGE:

10-Q
Nov 8, 2007
10-Q
Nov 7, 2007
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