Benefits at InSite Vision

InSite Vision has a strong appreciation for the contributions of its employees and believes that maintaining a healthy work-life balance can assist the Company and individual employee in obtaining goals. InSite Vision has assembled a comprehensive multi-faceted benefits package which fosters this belief.

Medical

InSite Vision offers the flexibility of electing medical coverage with Health Net (HMO/PPO Plans) or Kaiser (HMO) for employees and their eligible dependents. Medical plans include eye exams, prescription drug and prescription mail order programs with applicable co-payment.

Dental

InSite Vision offers a comprehensive PPO/OON dental plan that provides coverage for preventative, basic and major services for employees and their eligible dependents. Participants may seek dental care In-Network to receive the highest level of benefit coverage or participants may seek dental care Out-of-Network at a reduced level of benefit coverage.

Vision Care

Vision care is provided for employees and eligible dependents through Vision Service Plan (VSP). Vision coverage allows all covered participants to seek eye care checkups and corrective lenses at a discounted rate from VSP providers.

Health Insurance Employee Contributions

Medical, Dental and Vision coverage are offered to employees and their eligible dependents with a nominal employee contribution. Employee contributions are made via payroll deductions on a semi-monthly basis. Health insurance is effective the first of the month following date or hire.

Life/Accidental Death & Dismemberment, Short Term Disability, Long Term Disability (LIFE/AD&D/STD/LTD)

InSite Vision offers Life/Accidental Death and Dismemberment (Life/AD&D), Short Term Disability (STD), and Long Term Disability (LTD) insurance coverage for employees. This benefit is offered at no cost to the employee.

Employee Assistance Program (EAP)

Unum - Life Balance consultants can help employees get immediate answers to their questions regarding a variety of issues, identify options and support services, and find resources in local communities to address their concerns 24 hours a day, seven days a week via an 800 number. The EAP assists employees and their dependents in addressing work-related and personal issues and provided referrals for childcare, eldercare services, legal consultations, financial counseling and much more. This benefit is provided at no cost to the employee and is 100% confidential.

Travel Assistance

Unum - Assist America provides a 24-hour network of emergency medical and legal resources that offers valuable protection for employees and their families when traveling 100+ miles away from home. With just one call, covered employees and their families have access to qualified professionals trained to manage any travel emergency. This benefit is offered at no cost to employees.

SECTION 125 PLAN

Employees may voluntarily participate in the Section 125 Plan by designating pre-tax dollars each year to pay for costs/expenses which are not otherwise covered by the health insurance or other plans using the following accounts:

Health Insurance Premium Only Plan

Allows an employee to use pretax dollars to pay for benefit premiums. Dollar maximum varies from employee to employee.

Health Flexible Spending Account

Allows an employee to use pretax dollars for health related expenses that an employee pays for out-of-pocket. Maximum dollar amount employee can contribute is $3,600 per calendar year.

Dependent Care Assistance Program

Allows an employee to use pretax dollars for dependent-care related expenses. Maximum dollar amount employee can contribute is $5,000 per calendar year. If married and filing separately, maximum dollar amount employee can contribute is $2,500 per calendar year.

Transportation Plan

Allows an employee to use pretax dollars for transit related expenses. Maximum per month for mass transit is $115. Maximum per month for parking expense is $220. 

InSite Vision 401(K) Plan

All active regular employees are eligible to participate. Enrollment is effective first of the month following date of hire or the first of the month following enrollment. Employees may contribute on a pretax basis up to 50% of their gross salary (not to exceed annual plan and IRS limits). Loans are available up to 50% of your vested account balance. InSite Vision offers discretionary contributions based on achievement of company goals. Additionally, the InSite Vision 401(k) Plan offer Catch-up Contributions for those age 50 and over (not to exceed annual IRS limits) and rollovers from other qualified plans are accepted.

Stock Option Plan

InSite Vision offers New Hire Stock Option grants to eligible new employees subject to the approval of the InSite Vision Board of Directors.

Employee Stock Purchase Plan (ESPP)

After six months of continuous employment, regular employees may allocate up to 15% of compensation post-tax via payroll deductions to purchase the Company's common stock at 85% of the fair market value. Employees may have shares deposited into broker accounts.

Vacation

Vacation eligibility is based on length of service as follows:

Sick Time

Regular full-time employees are eligible for eight (8) paid sick days per calendar year. Regular part-time employees, who work 20 hours but less than 40 hours a week, receive a prorated number of sick days based on their regular work schedule.  

Holidays

InSite Vision provides 10 days company-paid holidays per year. This is inclusive of nine Company-designated holidays and one self-designated floating holiday.

Educational Assistance Program

InSite Vision encourages the pursuit of higher learning. The Educational Assistance Program is available to all regular full-time employees after 3 months of continuous employment. Employees will be reimbursed up to an annual maximum of $2,500 for tuition and required fees for coursework directly related to the employee's current position within the organization.

Health Club Program

InSite Vision encourages employees to stay healthy and regularly exercise. This is fostered through the Company's health club reimbursement program available to all regular employees.

Other Benefits

• Ongoing Stock Option Grants
• Flexible Schedules
• Business Casual Work Environment
• Employee Activities and Company Events
• Annual Flu Shots
• Direct Deposit
• Employee Referral Program

In order to receive health insurance benefits, you must be a regular employee of the Company consistently working a minimum of 30 hours per week. This description provides a general overview only of the benefits offered by InSite Vision. Should any discrepancies contained in this communication occur, the actual plan documents would prevail. Benefits are as of 01/01/2008. InSite Vision may review and modify programs described herein and retains the right to amend, change, or eliminate any or all benefits described in these publications at any time without notice.