Philippines Benefits Summary 2015

Transcription

1 Philippines Benefits Summary 2015

2 Health Care PR OM OT I N G W EL L N ESS A ND PR EVEN T A TI V E C AR E At Lattice, we provide a comprehensive healthcare coverage that not only amply provides for hospitalization needs, but also actively promotes wellness and preventive care. Medical HMO coverage includes both employees and their legal dependents. Lattice ensures that only the most reputable HMO service providers with wide networks of accredited hospitals, clinics and medical service providers are elected as partners in our healthcare benefit program. Current HMO partner is Asian Life. Premiums are paid by Lattice. Dental Dental coverage, under the HMO, is through a wide network of dentists and dental clinics across the country. Income Protection PROTECTING YOUR INCOME Employees are protected in the event of an illness, accident or death through our employer paid disability, life and accident insurance programs. Total and Permanent Disability Provides coverage if the employee who has not exceeded the maximum age of eligibility for life insurance (65 years old) becomes (a) totally disabled due to accident or disease and is (b) thereby prevented from engaging in any occupation for compensation or profit and (c) will be so disabled for life and (d) shall have been disabled for a continuous period of at least 6 months and (e) shall not have exercised his conversion right. 24 times Monthly Basic Salary Life and Accident Basic Life Insurance : 24 times Monthly Basic Salary Accidental Death & Dismemberment Insurance (AD&D) : 24 times Monthly Basic Salary Supplementary Pays and Allowances AUGMENTING YOUR INCOME TO ADDRESS SPECIFIC NEEDS In keeping with local norms and competitive industry practices, Lattice provides specials grants and allowances to help bear the cost of other economic demands. 14 th month pay On top of the statutory 13th month pay, you will receive a 14th month payment equal to one month s salary payable in May each calendar year. You must have been in continuous employment with the Company and actively employed on the date of payment to receive the 14th month payment. Rice Subsidy Each month, you will receive a rice subsidy in the form of cash, equivalent to PhP 1, Transportation Allowance Each month, you will receive a transportation allowance in the form of cash, equivalent to PhP 1, Clothing Allowance Each month, you will receive a clothing allowance in the form of cash, equivalent to PhP NO WAITING Regular full-time employees are eligible to participate in Lattice benefits on date of hire.

3 Financial INVESTING IN YOUR FUTURE Whether your focus is on long and short term financial goals or you just want to make the most of your earnings opportunities, Lattice provides vehicles to help you achieve your financial needs. Retirement Program Lattice contributes to a Retirement Trust Fund, which will provide retirement, death, disability, and severance benefits for all eligible employees of the Company. NORMAL RETIREMENT The Normal Retirement Date of an employee shall be the first day of the month coincident with the next following his sixtieth (60th) birthday provided he/she has served the Company for at least five (5) years of Service. The employee s Normal Retirement Benefit shall be a sum equal to 100% of Plan Salary for every year of Credited Service. EARLY RETIREMENT With the consent of the Company, an employee may elect to retire prior to his Normal Retirement Date, provided he has completed at least (5) years of service. The employee s Early Retirement Benefit shall be a sum equal to a Percentage of Plan Salary for every year of Credited Service in accordance with the vesting schedule below: Years of Service Less than 5 years Percentage 0% 5 but less than 6 25% 6 but less than 7 30% 7 but less than 8 35% 8 but less than 9 40% 9 but less than 10 45% 10 but less than 11 50% 11 but less than 12 55% 12 but less than 13 60% 13 but less than 14 65% 14 but less than 15 70% 15 but less than 16 75% 16 but less than 17 80% 17 but less than 18 85% 18 but less than 19 90% 19 but less than 20 95% 20 years and over 100% Employee Stock Purchase Plan (ESPP) Employees may contribute up to 10% of their pay, after-tax, through payroll deduction to purchase company stock at a discounted price. The shares are purchased at the lower of 85% of the Fair Market Value (FMV) on the Enrollment Date or 85% of the FMV on the Purchase Date. Eligibility begins on the first offering date (January 1 or July 1) after six months of service. Paid Time Off TAKING A BREAK At Lattice we work hard and play hard. Holidays Lattice provides twelve paid regular Philippine holidays each calendar year, plus other special holidays that may be proclaimed by the government. Sick Leave / Personal Absence Employees may take up to 15 paid sick leaves or personal absences for personal illness, to take care for the employee s qualifying family member, or to attend to certain urgencies.

4 Vacation Full-time employees receive vacation under the following schedule: Rewards RECOGNIZING YOUR ACCOMPLISHMENTS Rewards and Recognition is an important part of your overall employment experience. Lattice provides programs that both reward and recognize results. Incentive Compensation Employee incentive compensation is aligned to the financial and strategic success of the company. These programs encourage and reward strong financial performance and individual and/or team results. Reward and Recognition Programs Formal and informal programs acknowledge or give special attention to employee actions, behaviors and performance that contri bute to organizational success. Enhancing Work/Life HELPING YOU BALANCE YOUR WORK & L I FE Employee Activities Lattice conducts regular employee activities that further enhance the work atmosphere and camaraderie among employees---monthly birthday socials, team building programs, sportsfest, summer outing, yearend events, etc. Community Outreach Program Lattice regularly supports worthy community outreach endeavors and actively participates in CSR events. Fitness Program Lattice promotes fitness activities inside and outside of the company---such as conducting yoga and body jam sessions after office hours, and by sponsoring employees to public marathons, sport competitions, etc.

5 Locations US O FF I CE S GLOBAL OFFICES LHQ - Hillsboro, Oregon LSH - Shanghai, China 5555 NE Moore Court 16th floor, Shen Tong Infoport Plaza Hillsboro, OR West Huaihai Road Phone: (503) Shanghai Fax: (503) China LSV - San Jose, California 2115 O nel Drive San Jose, CA Phone: (408) Fax: (408) LSG - Singapore 101 Thomson Road United Square #07-02 Singapore LBN - Bangalore, India Ajmera Summit No. 3D 7th C Main Road 3rd Block, Koramangala Bangalore India LMN - Manila, Philippines 3rd Floor, ihub 1 Bldg. Northgate Cyberzone Filinvest Corp. City, Alabang, Muntinlupa 1781 Philippines