Benefits - Canada
The Blue Coat benefits program is designed to provide comprehensive and competitive benefits that support our employees and their family members during their employment at Blue Coat. Blue Coat offers a wide range of benefits to provide health care coverage, financial protection, savings opportunities and more. All Canada employees are eligible for the following benefits from their first day of employment unless otherwise noted.
Note: The information contained in this section is intended to be an overview of the benefits Blue Coat offers. It is not intended, nor should be used, as a complete guide to Blue Coat benefits. Changes to these plans may occur at any time. Full information about benefits plans at Blue Coat will be provided to all new employees, and that information takes precedence over any information presented in this section.
Medical and financial security is provided to employees through the Group Benefit Program provided by Blue Coat Systems in partnership with Manulife Financial. Group Benefits are important, not only for the financial assistance they provide, but for the security they provide for employees and their family, especially in case of unforeseen needs.
Blue Coat Canada provides its employees with a low deductible per calendar year; $25/individual and $25/family. These deductibles are not applicable to hospital care or out of Canada emergency medical treatment. Coverage is provided at 100% for drugs (prescription), hospital care (semi-private accommodation), medical services & supplies (crutches, wheelchair, etc...), professional services (chiropractor, psychologist, etc...), and out of Canada emergency medical treatment.
Eye examinations are covered once per calendar year. Purchase and fitting of prescription glasses or elective contact lenses, as well as repairs, or elective laser vision correction procedures, are covered up to a maximum of $250 during any 2 calendar years.
Blue Coat Systems employees do not pay an annual deductible. Benefit percentages are as follows: Level 1 (Basic Services) and Level 2 (Basic Supplementary Services) are covered at a rate of 100% with no coverage maximum. Level 3 (Dentures) and Level 4 (Major Restorative Services) are covered at a rate of 80% to a maximum amount of $2,500 combined per calendar year. Level 5 (Orthodontics) are covered at a rate of 50% to a maximum amount of $1,500.
Blue Coat Systems carries a life insurance policy on every employee. The employee receives coverage at the rate of twice their annual base salary ($400,000 maximum). The insurance premium is paid by Blue Coat Systems and serves as a taxable benefit to the employee. Dependent Life Insurance and Accidental Death & Dismemberment Coverage are also offered. Full benefits will be paid to the beneficiaries should and employee die as a direct result of an accident, and in the event of dismemberment partial benefits will be paid do the employee.
Short Term/Long Term Disability Insurance
Blue Coat offers a Short Term Disability Plan that covers employees at a rate of 66.7% of weekly earnings to a maximum of $1,150. The Qualifying Period is 14 days and the Maximum Benefit Period is 15 weeks.
Our Long Term Disability Plan covers employees at a rate of 66.7% of the first $2,500 of monthly earnings, plus 57.5% of any excess amount, to a maximum of $5,000. The Qualifying Period is 180 days and the Maximum Benefit Period is to age 65.
Blue Coat provides insurance coverage for employees in case of a work-related injury. Some of the benefits provided to injured employees may include payment for healthcare costs related to injury or illness, money to replace lost wages, and services to help the employee get back to work.
Group Travel Accident Insurance
Blue Coat Systems pays for the full premium costs of the plan which protects the employee should they suffer an accident or a medical emergency while traveling on company business.
Blue Coat Systems provides its employees in Canada with a sensible convenient way to build savings for their retirement. Employees can contribute any amount of their salary up to their maximum RRSP limit through pre-tax payroll deductions, and Blue Coat will match dollar for dollar the first 3% of contribution up to a maximum of $1,500 per year. Eligibility begins the first day of the month after 30 days of hire.
Educational Assistance Benefit
Blue Coat believes that formal education has a positive impact on an employee’s contribution to the Company and Blue Coat supports self-development and educational efforts by providing reimbursements for many of the expenses associated with continuing education courses. Blue Coat will reimburse regular full-time employees up to $5,000 tax free per calendar year for the cost related to tuition, course and lab fees, books, and supplies specific to the course.
Full time Blue Coat employees are eligible to receive stock options subject to approval by the Company's Board of Directors and execution of the appropriate Company stock option agreement. Options vest over a four year period, with 25% of the option shares vesting after 12 months of service, and the balance vesting in monthly installments over the next 36 months of service.
Employee Stock Purchase Program
Blue Coat's Employee Stock Purchase Program offers employees an opportunity to purchase shares of Blue Coat stock at a discounted price. Stock is purchased in six-month contribution periods through payroll deductions. Employees are able to lock-in a discounted purchase price for a six month period. Stock is purchased at 85% of the fair market price on either the first day of the six month offering period or the last day of the period whichever is lower. Contribution periods begin March 1st and September 1st.
Blue Coat offers a Profit Sharing Plan to promote the interests of the company and reward eligible employees for the achievement of superior financial results. Plan bonuses are based on the company's quarterly net profit after tax.
Blue Coat provides an employee assistance program for all employees and their dependents. This 100% confidential program offers assessment, crisis intervention, referral services and up to five counseling sessions at no charge to the employee. Employees and dependents can receive information on how to cope with a variety of issues including emotional stress, job stress, marital and family problems, alcohol or substance abuse, and legal and financial problems.
Blue Coat is committed to providing employees with a sensible balance between work and family life. To this end, Blue Coat provides all full-time employees with paid vacation. Vacation is earned based on years of service as follows: Two weeks per year for the first year of service, an additional week paid vacation is earned for the second year of service, and during the third year of service and beyond, the employee receives four weeks of paid vacation per year.
In the event that an employee is ill or injured and unable to work for a short period of time, Blue Coat provides paid sick time off. Sick time may also be used to care for a dependent or family member who is ill or injured. Employees are given 80 hours of sick time each year.
Blue Coat observes eleven holidays per year and designates specific holidays and floating holidays annually.
Our Blue Coat culture supports a casual, but energetic and exciting environment. Employees wear casual clothes everyday.
Access to Free Snacks and Beverages
The shared kitchen provides employees with a wide variety of foods ranging from bagels and nature bars to cookies and chocolate covered almonds. Juices and pop are provided as well in order to ensure that the employees can always go grab a quick snack to stay charged.
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