Retirement Savings

All employees of Quadrint, Inc. participate in a SEP IRA retirement savings plan. A SEP is a Simplified Employee Pension plan. Under a SEP, employers make contributions to traditional Individual Retirement Arrangements (IRAs) set up for employees, subject to certain percentage-of-pay and dollar limits.

When an employee is hired by Quadrint, Inc., he or she opens up a SEP IRA with the financial institution of his or her choice. On a quarterly basis, Quadrint, Inc. contributes an amount equal to 25% of the employees wages paid in the quarter to the SEP IRA. This amount is above and beyond the employee’s regular wages. It is not subtracted from the wages, like a 401K plan. There is a maximum annual contribution limit set by the IRS. Currently, the contribution limit is over 40,000. For more information on the rules regarding SEP IRAs, please refer to www.irs.gov.