SBAC » Topics » 17. 401(k) Savings and Investment Plan

This excerpt taken from the SBAC 8-K filed Apr 13, 2006.

17. 401(k) Savings and Investment Plan

The Company sponsors a contributory 401(k) Savings and Investment Plan covering all employees who meet length of service requirements. The Company matches 50% of the employee’s contributions up to a maximum Company contribution of 3% of the employee’s wages. The 401(k) expense for each of the years ended December 31, 2005, 2004 and 2003, was approximately $0.1 million. In January 2005, the Company’s 401(k) plan became part of a multiemployer 401(k) plan sponsored by Cequel.

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