Consolidated the disability insurance and car allowance perquisites under our SECP program and increased the annual pre-tax allowances accordingly ($125,000 for our CEO,
$85,000 for EVPs, and $60,000 for SVPs with no tax gross-up);
Eliminated the $250,000 death benefit for new officers and increased the benefit for existing officers to $400,000 to reflect the elimination of the tax reimbursement; and
Discontinued separate Company-paid term life insurance coverage and the Company provided car program.
Other Benefits. Our named executive officers have the option to participate in various employee benefit programs, including medical, dental and
life insurance benefits and our 401(k) plan. These benefit programs are generally available to all employees. We also provide all employees, including named executive officers, with the opportunity to purchase our common stock through payroll
deductions at a 15% discount through our Employee Stock Purchase Plan (the ESPP), a nondiscriminatory, tax-qualified plan.
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