SUMMARY OF BENEFITS Onsite Employees B-Hourly Plan Year 2015 Congratulations on your offer of employment with Altair ProductDesign, Inc.! In order to help you make a decision on the offer, the following is a summary of both the voluntary and provided insurance benefits as well as a listing of non-insurance benefits. Any questions regarding benefits should be directed to benefits@altair.com or phone at (248) 614-2400. Non Insurance Benefits 401(k) Eligible participants will receive a Company matching contribution (per calendar year) equal to (i) 50% of the first $2,000 contributed to the Plan by the participant plus (ii) 25% of employee contributions in excess of $2,000, up to a total of $4,000 in incremental employee contributions to the Plan by the participant, provided the participant is employed by Altair on the last day of the year. Matching calculations will be made for all active and participating employees as of December 31. The maximum amount of matching funds provided by Altair is $2000 on Employee 401k Plan Contributions of $6000 or greater. Below are some examples of the 2014 Altair 401k matching: If the employee contributes $7000 to the Plan o Altair matches 50% of $2000 + 25% of $4000; Total = $2000 If the employee contributes $6000 to the Plan o Altair matches 50% of $2000 + 25% of $4000; Total = $2000 If the employee contributes $4000 the Plan o Altair matches 50% of $2000 + 25% of $2000; Total = $1500 If the employee contributes $1500 to the Plan o Altair matches 50% of $1500; Total = $750 J.P. Morgan is updated with Altair s new employees every Friday of each week. Employees are emailed their 401k packet to their Altair email address, which will provide their log in details. If the Altair email address bounces back, the employee will be mailed a physical packet with their login details. The employee will have 45 days to opt out of the plan; otherwise they will be automatically enrolled at 3% of total earnings. For any questions in regards to J.P. Morgan and the specific account call (800) 345-2345. For more information on the plan and individual funds, please contact the Portfolio Manager, Mr. David Breuhan at (248) 644-2701 or email at david.breuhan@gjsco.com. Employees are fully vested after five years of continuous employment with Altair in accordance with the plan provisions. Referral Policy A referral bonus is extended to active employees of Altair who refer to the company full-time employees. The referral bonus will be paid for regular, full-time placements in-house and onsite. The bonus is payable in the first pay period following the referral s 90 th day of work. For more details please refer to the formal policy located on the AltairNET. Revision Date: 12/11/2014 Page 1 of 9
Paid Time Off Each full-time employee who is employed as of January 1 st of any given year is entitled to twenty (20) PTO days (160 PTO hours) for that year. Employees have the flexibility to use these PTO days towards sick days, vacation days, or holidays. Employees who join Altair in any month subsequent will receive a prorated amount of PTO hours for their first employment year equal to 13.34 hours per month commencing with the first day of the month coinciding with or immediately following the date on which employment begins. Company recognized Holidays in which the Altair office will be closed Martin Luther King Day Good Friday Memorial Day Independence Day Labor Day Veterans Day Thanksgiving Day Day following Thanksgiving Christmas Eve Christmas Day The workdays, which fall between Christmas Eve and New Year s Day are also considered holidays that Altair will be closed for. (except if on a weekend). Certain holidays may be added or deleted based on the Automotive Holiday schedule or at the discretion of the management of Altair Engineering. Employees will be notified of these changes via the email system. Please ask your Service Representative for a complete Holiday schedule. Enrolling in Altair's Benefit Plans An employee s effective date for coverage shall be the date of hire. All benefit enrollments MUST be completed within 30 days of your date of hire. The day an employee is terminated from Altair/Voluntarily leaves Altair insurance will ONLY be effective until 11:59 pm that day. To enroll in Altair benefits, please follow the instructions shown below: - You will need to connect to AltairHR over the Internet: AltairHR is located at our Intranet http://troy-www/ or from outside the VPN it is accessible using secure https://www.extranet.altair.com. You should read the Benefits Enrollment Instructions on AltairHR home page to learn more. Plan related questions may be directed to benefits@altair.com. Application questions may be directed to db@altair.com. - Please contact your Service Representative for a step by step guide on how to submit your enrollment. Revision Date: 12/11/2014 Page 2 of 9
Voluntary Insurance Benefits At Altair, through the benefit of a Cafeteria Plan, employees have the ability to purchase their voluntary insurance on a pre-tax basis. All in-house, full-time employees are given a base level of coverage, with the ability to buy up or buy down to alternate plans. Employees choosing to opt out of the benefits (medical, dental, vision, prescription) coverage provided through Altair, must provide the Human Resource Department proof of health coverage (policy/contract number); You will be asked to provide this information while going through the online enrollment in AltairHR. All full-time Altair employees are eligible for medical, prescription, dental and vision coverage through Blue Cross Blue Shield (BCBS) of Michigan s Community Blue PPO and/or Altair Health Services. The coverage via Altair s Plans are all-inclusive; meaning if you elect to subscribe to Altair s health insurance you will receive medical, prescription, dental and vision nothing is optional with the exception of Plan C which only consists of medical and prescription and Altair Health Services (please see page 8 for more details on what Altair Health Services can provide to employees and their families). There are four different coverage options available, giving you have the freedom to select the plan that best meets your needs. PPO plans do not require referrals from Primary Care Physicians, giving you the freedom to seek care from specialists at your discretion. For a full detailed description of all offered plans, please refer to the supplied additional documents (or AltairHR if inside the Altair network). Blue Cross Blue Shield has the largest national network of providers with 93% of providers and 99% of hospitals in Michigan in the network. If you are a Michigan resident, please visit www.bcbsm.com to locate a physician or hospital near you. Outside of Michigan, please visit www.bcbs.com and select Community Blue for your search. You can also call 1-800-810-BLUE (2583) for assistance in locating a provider. Through Blue Cross Blue Shield you will have access to several programs, including: BlueHealthConnection: Registered nurses, health coaches, work with members to improve their health and live a better life by providing education and assistance for many conditions, including asthma, low-back pain, congestive heart failure, diabetes and migraines. Weight Watchers: Discounts for registration and programs Quit the Nic: Work one on one with a registered nurse to develop an action plan, quit date and to stay smoke free for life. Blue HealthLine: Confidential guidance from registered nurses and access to an audio health library with over 1600 topics. PharmaAdvisor : online program allows you to research and compare drug treatment options. Physician Selection Advisor : allows you to select a physician using the criteria most important to you. Hospital Advisor : allows you to find and compare hospitals using the factors most important to you. Treatment Cost Advisor : allows you to research the cost of common health care services For access to any of these services you must have your ID number, which can be found on your ID Card. Revision Date: 12/11/2014 Page 3 of 9
Individual Plan Details Plan A -In Network $500/$1,000 -Out of Network $1,000/$2,000 Coinsurance -In Network 90%/10% -Out of Network 50%/50% Out of Pocket Max (excluding deductible) -In Network $1,500/$3,000 -Out of Network $3,000/$6,000 Office, Chiropractic and Urgent Care Visits -In Network $20 co-pay -Out of Network 50%/50%, after deductible Wellness (Preventive) 100% Coverage (no maximum) Emergency Room $100 co-pay Generic/Brand Prescriptions (includes contraceptives) 30% with $10 minimum/$100 maximum Plan B -In Network $1,000/$2,000 -Out of Network $2,000/$4,000 Coinsurance -In Network 80%/20% -Out of Network 50%/50% Out of Pocket Max (excluding deductible) -In Network $1,500/$3,000 -Out of Network $3,000/$6,000 Office, Chiropractic and Urgent Care Visits -In Network $30 co-pay -Out of Network 50%/50%, after deductible Wellness (Preventive) 100% Coverage (no maximum) Emergency Room $100 co-pay Generic/Brand Prescriptions (includes contraceptives) 30% with $10 minimum/$100 maximum Plan C *Not including Dental or Vision, only Medical -In Network $5,000/$10,000 -Out of Network $10,000/$20,000 Coinsurance -In Network 80%/20% -Out of Network 50%/50% Out of Pocket Max (excluding deductible) -In Network $2,500/$5,000 -Out of Network $5,000/$10,000 Office, Chiropractic and Urgent Care Visits -In Network $40 co-pay -Out of Network 50%/50%, after deductible Wellness (Preventive) 100% Coverage (no maximum) Emergency Room $100 co-pay Generic/Brand Prescriptions (includes contraceptives) 30% with $10 minimum/$100 maximum Revision Date: 12/11/2014 Page 4 of 9
Vision Coverage This is a PPO plan, using the VSP network / www.vsp.com This plan is through BCBS In-Network Benefits Exams $5 co-pay - Once every 12 months Frames $10 co-pay - Once every 12 months Lenses $10 co-pay - Once every 12 months Or, in lieu of lenses and frames Contact Lenses Once every 12 months, but up to $120 allowed (Out of network benefits, which is a reimbursement schedule, can be found online) * If you waive medical, you waive vision coverage. Dental Coverage Traditional Plan, however if you use the Dental Network of America (DNoA), Blue Dental customers will have access to a larger national dental network. o www.dnoa.com (note: employees will be able to locate a network dentist in the upper left hand corner/blue box/dppo) o For a status on a claim, members should call DNoA at 888-826-8152. This plan is through BCBS None Preventive 100% Basic Services 75% Major Services 50% Annual Max $1000 Orthodontia 50% child only Orthodontia Max $1000 Lifetime per child * If you waive medical, you waive dental coverage. Revision Date: 12/11/2014 Page 5 of 9
Side by Side Plan Comparison of Medical Plans Plan A Plan B Plan C -In Network $500/$1,000 $1,000/$2,000 $5,000/$10,000 -Out of Network $1,000/$2,000 $2,000/$4,000 $10,000/$20,000 Coinsurance -In Network 90%/10% 80%/20% 80%/20% -Out of Network 50%/50% 50%/50% 50%/50% Out of Pocket Max (excluding deductible) -In Network $1,500/$3,000 $1,500/$3,000 $2,500/$5,000 -Out of Network $3,000/$6,000 $3,000/$6,000 $5,000/$10,000 Office, Chiropractic and Urgent Care Visits -In Network $20 Co-pay $30 Co-pay $40 Co-pay -Out of Network 50%/50%, after deductible 50%/50%, after deductible 50%/50%, after deductible Wellness (Preventive) 100% Coverage (no maximum) for A, B, & C Emergency Room $100 co-pay $100 co-pay $100 co-pay Generic/Brand Prescriptions (includes contraceptives) 30% with $10 minimum/$100 maximum for A, B & C Plan Options and Employee Contributions Medical, Rx, Vision & Dental Plan C does not include Dental or Vision, only Medical) Single 2 Party Family Plan A $478.50 $1,146.99 $1,439.17 Plan B $277.81 $665.87 $835.78 Plan C $210.75 $504.88 $634.54 Clinic Only $10.00 $20.00 $25.00 *See next page for Clinic details -All premiums are on a per month basis. *For further questions regarding pricing etc. please contact the HR Department at benefits@altair.com. ***The day an employee is terminated from Altair/Voluntarily leaves from Altair insurance will ONLY be effective until 11:59 pm that day. Revision Date: 12/11/2014 Page 6 of 9
Diane Towers is the nurse practitioner for Altair Health Services which is located at Altair s corporate headquarters in Troy, MI. Altair Health Services can be utilized by employees, spouses and dependent children. The services available include, but not limited to: Physical exams/yearly exams Urgent care visits D.O.T. exams Health Risk Assessments Lab draws Immunizations (i.e. Flu, TB test, Tetanus, Yellow fever) Wellness programs Referrals Electronic health records On-call services Altair Health Services is available to all Altair employees. In order for out-of-state employees to utilize these services, they would have visit headquarters. If you choose to enroll in Altair s insurance you can utilize the Altair Health Services at no extra cost. If you opt out of Altair s insurance but would still like to utilize the Altair Health Services you can pay the Clinic Only premium listed in the previous page. Appointments can be booked as a meeting request through outlook. 45 minutes is recommended for the first visit and 30 minutes for the following visits. Please contact benefits@altair.com or Diane Towers at (248) 614-2400, ext: 260 or dtowers@altair.com if you have further questions. Altair Health Services Hours: Monday Thursday 8:00 am EST to 4:00 pm EST Friday 9:00 am EST to 12:00 pm EST Other times available by appointment Revision Date: 12/11/2014 Page 7 of 9
Provided Insurance Benefits *Note, if you opt out of medical insurance you are still eligible for long-term disability (LTD), standard life insurance and standard accidental death and dismemberment (AD&D) insurance, but you MUST opt in to LTD, Life and AD&D to receive coverage. The standard coverage is at NO COST to the employee. Disability Insurance - all full-time permanent employees (i.e. those who work at least 30 hours or more a week), will be provided with short and long term disability coverage. The short-term coverage is provided by Altair Engineering, and the long-term coverage by UNUM Life Insurance Company of America. Please refer the Short and Long Term Disability documents found in your Orientation Packet and in AltairHR for more details. www.unum.com Standard Life and AD&D Plan - all full-time permanent employees (i.e. those who work at least 30 hours or more a week), will receive $50,000 of Standard Life and $50,000 in Accidental Death & Dismemberment Insurance. Employees do have the option to purchase Additional Life and Additional Accidental Death & Dismemberment Insurance up to 5 times annual salary or $500,000 (whichever occurs first) as well as coverage for spouse and children. Please refer the Standard Life and AD&D documents found in your Orientation Packet and AltairHR for more details. The insurance is provided by UNUM Life Insurance Company of America. www.unum.com Flexible Spending Accounts (FSA) Benefits This is a voluntary benefit offered by Altair through its cafeteria plan. Altair offers employees the ability to pay for certain health care and dependent care expenses tax-free. Please refer to the enclosed summary and enrollment forms for more information. *Note, if you opt out of medical insurance you are still eligible for Flexible Spending Accounts but you MUST opt in to FSA to receive coverage when going through the online Benefits Enrollment process. Health Care Reimbursement - this account enables employees to deduct a maximum of $2,500.00 per calendar year on a pre-tax basis for any costs incurred that are not covered by medical, dental and vision insurances; this usually means deductibles, copayments, and coinsurance for the employee's health plan, but may also include expenses not covered by the health plan, such as dental and vision expenses. A medical FSA cannot pay for health insurance premiums, cosmetic items, cosmetic surgery, controlled substances (in violation of federal law), or items that improve "general health". As a result of the health care reform FSA money will no longer be used towards over-the-counter drugs, unless the patient obtains a note/prescription from his/her doctor. **Altair has adopted the $500 rollover rule, for Health Care Reimbursement ONLY. Employees participating in FSA will be allowed to roll over up to $500 of unused funds effective April 1 st, 2016. Dependent Care Reimbursement - this account enables employees to receive reimbursement for certain dependent care expenses for eligible children and/or other eligible dependents. These expenses must be incurred to allow the employee and the spouse to work, unless the spouse is a full-time student or incapable of self-care. The maximum amount allowed in this account is $5,000.00 per calendar year. * All submitted FSA claims are reimbursed on the 8 th paycheck of every month. Should the 8 th of the month fall on a Saturday, Sunday or holiday, payday will be the preceding business day. ** Please be aware that March 31 st, 2016 is the deadline for submitting your FSA claims online and for turning in all receipts. Eligible claims are based on the calendar year, January 1, 2015 - December 31, 2015. Revision Date: 12/11/2014 Page 8 of 9
Other Benefits Pay Day - employees are paid semi-monthly. The two pay periods are as follows: - Pay period from the 1 st through 15 th of the month will be paid by the 23 rd of the same month. - Pay period from the 16 th through the end of the month will be paid by the 8 th of the following month. Should the 8 th or 23 rd of the month fall on a Saturday, Sunday or holiday, payday will be the preceding business day. Please note that due to insurance billing schedules, any insurance premiums that are deducted from your paycheck are for the current month. The company offers direct deposit of your check and can transmit funds to any bank or credit union in the United States. Please complete the Direct Deposit form in your Orientation Packet to enroll for this option. Frequently other non-insurance benefits, such as Vehicle Purchase Programs and promotions are made available to employees. You can look on the Altair Intranet under Employee Discounts to see these benefits. Notes The management of Altair Engineering, Inc. reserves the right to change or discontinue any of the aforementioned non-insurance benefits, at will, without prior notice. Changes to any of the non-insurance benefits will be announced via the email system. Please feel free to contact the Human Resources at (248) 614-2400 or hr@altair.com if you have any questions regarding this summary. Revision Date: 12/11/2014 Page 9 of 9