Digi-Key Corporation Compensation and Benefit Summary
Compensation - Pay is reviewed annually.
Health Plan – Digi-Key Corporation provides coverage through Blue Cross & Blue Shield of Minnesota.
Coverage has no deductible, if you use one of our network providers. The employee’s share of the cost for a
family policy is $27 biweekly. Single coverage is free of charge to the employee. In-network services
include no deductibles and there are no office co-pays. Formulary drug prescription plan provides
prescriptions to plan participants for a $10 co-pay. Plan enrollment date is 30 days following the hire date
and the first of the month following that period. Example: Employee starts May 15 and coverage becomes
effective on July 1. See Summary Plan Description for full plan details.
Flexible Spending Accounts – Our flexible spending accounts enable participants to pay for health/dental
plan premiums, unreimbursed medical and dental expenses, as well as dependent care expenses out of pretax funds. Consult your tax advisor for assistance regarding this opportunity. See Summary Plan Description
for full plan details.
Life Insurance Plan – Full time employees are covered by a company-paid life insurance policy that
provides benefits equal to three times the employee’s annual earnings. Plan enrollment date is six months
following the hire date and the first of the month following that period. Example: Employee starts May 15
and coverage becomes effective December 1. See Summary Plan Description for full plan details.
Long Term Disability Insurance Plan – Disability insurance is provided to all full time employees.
Following a 30 day waiting period, eligible employees may receive benefits equaling up to two thirds of their
covered earnings. Plan enrollment date is six months following the hire date and the first of the month
following that period. Example: Employee starts May 15 and coverage becomes effective December 1. See
Summary Plan Description for full plan details.
Dental Plan – Digi-Key Corporation provides coverage through Delta Dental. This is a voluntary employee
plan that features low deductibles of $25 per person / $75 per family (no employee cost or deductible for
diagnostics and cleanings) and involves employee participation in the form of biweekly payroll deductions of
$5 biweekly (single coverage) or $15 biweekly (family coverage). Plan enrollment date is 30 days following
the hire date and the first of the month following that period. Example: Employee starts May 15 and
coverage becomes effective on July 1. See Summary Plan Description for full plan details.
401(k) Plan – Wells Fargo administers Digi-Key Corporation's plan. Employees must be 18 years of age and
have worked at Digi-Key one month (example: June 1 to July 1) to be eligible. Plan entry date is the first of
the following month. Digi-Key matches employee contributions dollar-for-dollar up to 3%. Six year vesting
rules apply to the Digi-Key match. See Summary Plan Description for full plan details.
Page 2 – Benefit Summary (General Employees)
Profit Sharing - Profit sharing utilizes the 401(k) plan's tax-deferred advantages. Digi-Key Corporation
may provide a profit sharing contribution directly into your retirement account. In order to receive a
contribution, you must be eligible for it. Plan eligibility rules require that you must be at least 18 years of
age, have a minimum of 1,000 hours of service in the current calendar year, and be employed on or before
March 31 of the current calendar year to be eligible for a profit sharing contribution the following January.
Historically, annual company contributions have totaled up to 4% of annual income. 6 year vesting rules
apply. See Summary Plan Description for full plan details.
Personal/Vacation Time – 48 hours of unpaid personal time are provided to you annually, including your
first year. 40 hours of paid vacation and forty hours of unpaid vacation is provided in your first year. 80
hours of paid vacation time is provided after one year of service. 120 hours of paid vacation time is provided
after ten years of service. 160 hours of paid vacation time is provided after 20 years of service.
See employee handbook for complete details.
Holidays – There are six paid holidays, including New Years Day, Memorial Day, Independence Day, Labor
Day, Thanksgiving Day and Christmas Day. See employee handbook for complete details.
Other Benefits:
Employee Purchases – Digi-Key employees may purchase Digi-Key components and supplies at 10%
above Digi-Key’s cost.
Automatic/Direct Deposit - Available for all employees’ payroll disbursements.
Education Cost Reimbursement – Available at management discretion for courses relating to your
position.
Relocation Assistance – Digi-Key will reimburse up to $500 to any newly hired full-time employee who
has resided outside of a 60-mile radius of Thief River Falls, Minnesota, and relocates to an alternative
housing arrangement located within a 60-mile radius of Thief River Falls in conjunction with his or her
new employment at Digi-Key.
Employee Assistance Program – Available to all employees.
Information provided in this communication is not a guarantee of benefit payment or pre-approval of any
services. All benefits are subject to plan provisions, pre-notification requirements, limitations, and eligibility.
It is the participant's responsibility to ensure compliance with all plan terms.
Digi-Key Corporation is an AA/EEO Employer
10/29/12