2019 BENEFITS SUMMARY

Healthcare Benefits
Vermeer offers a variety of healthcare plan options to meet the unique needs of our individual team
members. Effective on the first day of the calendar month following your start date, you’ll be eligible to
enroll in coverage. You can find more information regarding the current plan offerings enclosed.
Annual vision exams are covered under the healthcare plan, and dental coverage can be elected as a
separate benefit.

If you enroll in a Vermeer healthcare plan, you will also be eligible to participate in a Health Savings
Account (HSA) or Flexible Spending Account (FSA). These accounts allow you to set aside pre-tax
dollars to use for eligible medical, dental and vision-related expenses not covered by insurance. In
addition, Vermeer offers an initial contribution and employer match for contributions made to an HSA.
Please refer to the enclosed benefits summary for more information.

401(k) Retirement Plan

On average, 95% of our team members participate in the Vermeer 401(k) retirement plan. Our team
members find this plan to be a key element in helping them prepare for their future. You can choose to
contribute up to 50% of your eligible compensation into the plan, subject to IRS contribution limits.
You’ll be eligible to begin deferring compensation starting the first day of the month following 30 days of
employment with Vermeer.

Vermeer will immediately begin matching contributions at a rate of 50 cents of every dollar you
contribute to the plan, up to the first 6% of your compensation. Vermeer matching contributions will vest
according to the plan schedule enclosed.

Paid Holidays and Volunteer Time Off

Vermeer celebrates 11 paid holidays each year, three of which are company-scheduled floating
holidays. Additionally, the Volunteer Time Off (VTO) policy allows you up to eight hours of paid time off
each year to serve in your community.

Vermeer Health Center and Family Pharmacy

To support your health and wellness, you and your family will have access to the Vermeer Health
Center and Vermeer Family Pharmacy located on the Pella campus. From routine medical care to a
one-on-one consultation with our registered pharmacist, these resources provide you with low-cost,
high-quality healthcare in a convenient location right in the heart of the Vermeer Mile.

Chaplaincy Program
At no cost to you, you will have access to a full-time chaplain to support you and your family’s wellness
needs. The on-site chaplains are trusted, confidential resources that are on call 24/7 for Vermeer team
members and their families.

Maternity/Paternity Leave
You will be eligible for three paid days of maternity/paternity leave at the time of a child’s birth or
adoption.

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2019 BENEFITS SUMMARY
Live Well Program
Vermeer wants you to be healthy and productive at home and work. To this end, you will have access
to our Live Well wellness program aimed at supporting and encouraging healthy lifestyle habits. This
program allows you to participate in a variety of health-based activities. If covered under a Vermeer
healthcare plan, completing certain health-related activities can earn you up to $400 in annual credits
towards your health insurance premiums. Covered spouses can also earn up to $400 in annual credits
for participating in these activities.

Education Assistance Program

After six months with Vermeer, you will be eligible to participate in the Vermeer Education Assistance
Program. This program offers reimbursement for eligible education expenses in an amount up to
$5,250 annually. Please refer to the Education Assistance Policy for full terms and conditions
associated with this program.

Vermeer Yellow Iron Academy

You will have access to the Vermeer Yellow Iron Academy, which provides care and education for
children ages six weeks to 12 years. Please contact the center for availability and pricing.

Short-Term and Long-Term Disability

Vermeer provides you with both short-term and long-term disability insurance at no cost to you. Short-
term disability provides financial assistance for team members unable to work their normal job due to
illness or accidental injury for up to 26 weeks. Long-term disability provides financial assistance for
team members unable to return to work after exhausting their short-term disability.

Company-Paid Life Insurance

Company-paid term life insurance is provided to you at no cost in the amount of one year’s base salary.
Additional voluntary term life insurance coverage may be purchased.

Voluntary Benefits
Vermeer also provides you with access to several additional voluntary benefits at competitive rates,
including voluntary term life insurance, legal shield, identity theft protection, accident and critical illness
coverage, and a vision discount program.