Seattle Genetics takes pride in providing a comprehensive benefits package. Our benefits package is designed to offer a variety of coverage and services, both employer-paid and optional voluntary programs, to meet the needs of our employees and their families. We pay 99% of the monthly health insurance premiums for our full-time employees and over 93% of the monthly health premium costs for dependent coverage.
- • Health Care Coverage — Medical, dental and vision coverage are provided. Coverage begins on the first of the month
following date of hire. - • 401(k) — Employees are eligible to enroll in the 401(k) plan the first of the month following their date of hire. Seattle
Genetics will match 50% of the first 6% of salary contributed by employees. The matched contribution vests 20%
annually, such that employees are fully vested after 5 years. - • Flexible Spending Plan — This plan offers employees the opportunity to pay for unreimbursed health care expenses
and qualifying day care expenses with pre-tax earnings. Employees electing to cover eligible dependents on their
medical, dental or vision plan may pay their portion of the premium costs through pre-tax payroll deduction. - • Short Term and Long Term Disability — In cases of approved short term and long term illness or injury, eligible
employees may receive disability benefits that provide partial salary replacement for loss of earnings due to illness or
injury. - • Life Insurance and Accidental Death and Dismemberment (AD&D) — Life insurance and accidental death and
dismemberment coverage is provided to all employees at an amount equal to two times an employees' annual salary to a
maximum of $500,000. - • ESPP (Employee Stock Purchase Plan) — The ESPP provides employees of Seattle Genetics with an opportunity to
purchase our common stock at a discount to fair market value via payroll deductions. - • Optional Insurance Plans — Supplement Life Insurance is offered to interested employees at group rates.
The preceding is not a summary of the plans or policies or a description of their key features or details. In case of any conflict or question, the official plan documents or applicable policies, as amended from time to time, will govern.