HEALTH BENEFITS

Extensive health benefits are part of Cree's total compensation package. You can choose the benefit program that adds the most value to meet your personal needs. The cost of these plans depends on your choices.

Medical:

• Choice of two levels of PPO plans in North Carolina.
• Dependent coverage available for you, your spouse and/or dependents.
• Eligibility - first of the month following first day of employment.

Dental:

• Preventative care is covered at 100% with no deductible.
• Basic restorative care is covered at 80%; major restorative care at 50% with deductible.
• Orthodontic coverage for children and adults available for $2,000 maximum lifetime benefit.
• Eligibility - first of the month following first day of employment.

Vision:

• Cree’s Health Care Plans also provide vision coverage as part of the medical plan.

FINANCIAL PLANS

401K Plan through Fidelity Investments:

• Cree match on first 6%, currently $1.00 for 1% contributed and .50 for the next 5% contributed.
• Multiple investment options available through Fidelity with on-line review of accounts.
• Eligibility - first of the month following first day of employment.

Incentive Cash Compensation Plan:

• Plan is designed to provide cash incentives to eligible employees when the company achieves quarterly net-income goals.
• Eligibility - first day of employment.

Disability Insurance:

• Short term disability pays 60% of base pay with a maximum of $1,000 per week up to 13 weeks – entirely paid for by Cree.
• Long term disability pays 60% of base pay with a maximum of $8,000 per month – entirely paid for by Cree.
• Supplemental Income Protection can be purchased at an additional cost to employees.
• Eligibility - first day of employment.

Life Insurance:

• Basic benefit is two times annual salary (min $50,000/max $350,000).
• Dependent coverage is $5,000 for spouse and eligible child.
• Supplemental life insurance is available for employees and dependents at employee cost.
• Eligibility - first day of employment.

EMPLOYEE RESOURCES

Employee Assistance Program:

• Offering confidential counseling, education and referral 24 hours per day administered through ValueOptions, including financial and legal assistance.

Educational Assistance:

• Reimbursement for degrees/courses that are job or company related up to $5,250/per year.
• Sliding scale of reimbursement based on grades achieved and level of coursework.

Child Care/Elder Care Premiums:

• Child Care - Employees who have children under the age of 13 are eligible to receive $50 per child per pay period to aid in the payment of childcare expenses, if spouse is employed fulltime.
• Elder Care - Employees who have a spouse who is physically or mentally unable to care for him or herself will receive $50 per pay period to aid in the payment of expenses incurred in the daily care of spouse.

Auto/Homeowners Insurance:

• Convenient payroll deductions for homeowners/auto/boat insurance through Metlife.

Flexible Spending Accounts:

• Medical - save up to $6000 yearly on a pre-tax basis to pay for medical expenses not reimbursed by insurance.
• Dependent Care - save up to $5,000 yearly on a pre-tax basis to pay for child care expenses resulting from your working.

On-Site Fitness Center:

• Open to all employees, spouses, and dependent children over 18 at Durham, NC location, free of charge.
• Various fitness and wellness programs available.