Lhoist North America 401(k) match, vesting and fees

Participants are immediately vested in their voluntary contributions, safe harbor employer matching contributions, and actual earnings thereon. Vesting of supplemental employer contributions is based on completion of the number years of service under the following schedule: Years of Service Vested Percentage Less than 1 year 0% 2 years 0% 3 years 100% Vesting for employer matching contributions for certain bargaining employees will be applied as defined in the respective collective bargaining agreement and as defined by the Plan document.

The Plan includes an auto-enrollment provision whereby all newly eligible employees are automatically enrolled in the Plan unless they affirmatively elect not to participate in the Plan. Automatically enrolled participants have their deferral rate set at five percent of eligible compensation and their contributions invested in a designated target date fund until changed by the participants. The Plan also includes an auto-increase provision whereby all participants are subject to a one percent annual increase in deferral rate up to a maximum of ten percent unless they affirmatively elect not to participate in the auto-increase feature.

Each year, eligible participants may make pre-tax or Roth contributions (or a combination of both), from 1% to 50% of their eligible compensation, as defined by the Plan. In addition, participants may contribute up to 10% of annual compensation as designated after-tax contributions. The Plan also allows for in-plan Roth conversions of vested amounts.

Participants may borrow from their accounts up to 50% of their vested account balances, not to exceed $50,000. Loan terms range up to five years or longer for the purchase of a primary residence. The loans are secured by the balances in the participants’ accounts, bear interest at rates determined by the Company, and are for terms not to exceed fifteen years.