Benefits at Novo Nordisk Pharmaceutical Industries, Inc.

The following benefits listed are subject to change.

Holiday Schedule - Novo Nordisk provides 12 paid holidays.

Vacation Policy - The purpose of this policy is to provide time off, with pay, to employees for rest and relaxation.

                              
The amount of vacation hours available for all newly hired employees will be prorated based on the date of hire.

Paid Time Off (PTO) -This policy provides a maximum of 40 hours of paid time off per calendar year to all regular, full time, non-exempt employees who have successfully completed 90 calendar days of employment.

Educational Assistance Program - This program provides financial assistance to employees enrolled in individual courses or participating in academic degree programs that are related to increasing an employee's ability to perform his/her current position or a projected assignment within the company.
All employees are eligible for this program after successful completion of the 90-day introductory period.  The company will reimburse the employee 100% for all fees required for the course at the institution, providing grade requirements are met.  The maximum payment per calendar year for undergraduate coursework is $5,250 and $10,000 for graduate coursework.

Employee Referral Program - The company offers a referral bonus to encourage and reward current employees to refer potential employees.

Retirement

401(k) Savings Plan

8% of annual compensation is paid into a plan on the employee’s behalf, or 9% contribution if the employee contributes 2% or more on a pre-tax basis (not to exceed annual limits provided by law). Company contributions are subject to Plan’s vesting schedule, which is:

Total plan contributions (employer and employee) will be invested at your election. The Novo Nordisk Plan provides loans as well.

Disability

Short-term Disability - Employees are eligible to participate after 90 days of full-time service; 75% or 100% base pay continuation for first 180 days (% determined by service). Work-related injuries are covered by Worker's Compensation Insurance.

Long-term Disability - Employees are eligible to participate after 90 days of full-time service; 60% or 70% of base salary, as elected, after 180 days of disability (up to plan maximum, and offset by income from Social Security, State Disability, and Worker’s Compensation). Company pays the cost of 60% option. Employee pays the cost of the additional 10% benefit, if the 70% option is elected.

Life and Accident Plans

Employee Life Insurance - Company paid Basic Life Insurance equal to 2x base salary, raised to the next $1,000; Employee paid Supplemental Life Insurance – choose up to 4x base salary (up to plan maximum)

Accidental Death & Dismemberment (AD&D) - Company paid coverage equals 1 x your base salary, raised to next $1,000 (up to plan maximum)

Business Travel Accident (BTA) Insurance - Company paid coverage equals 5 x your base salary, raised to next $1,000 (up to plan maximum)

Medical and Dental Plans

Preferred Provider Option (PPO)

Health Maintenance Organization (HMO)

Preferred Dentistry Program (PDP)

Employee contributes by paying bi-weekly premiums through payroll deduction on a pre-tax basis. Contribution is based on the plan elected. Vision care and Prescription Drug coverage is available with each Medical Plan.

FLEXIBLE SPENDING ACCOUNTS

Health Care & Dependent Care Spending Account - These accounts allow the employee to use pre-tax earnings to pay for uncovered medical and dental expenses, and expenses for caring for a child or elderly person while you work. Employee may fund these accounts with Flex Credits or with pre-tax dollars through payroll deductions.

Supplemental Health Fund - Funded through health care spending account.

Novoflex Dollars - The company will reimburse the employee and their family for qualifiable medical expenses not covered by the medical plan. Expenses include: vision care, routine physicals, well baby care checkups or any other medical expenses not covered by the plan you select, as well as your health/and/or dental deductible and your out-of-pocket expense. Reimbursement is based upon your Novoflex dependant status and may be used by any covered dependent.

Other benefits:  Service awards, health club membership discount, social events, on-site medical care, wholesale club membership reimbursement, employee assistance program, and relocation assistance to name a few.