New Era Technology 401(k) match, vesting and fees

Participant contributions, as well as employer matching and profit-sharing contributions, and earnings thereon, are immediately fully vested. Former participants in the Future Technologies Group, Inc. 401(k) Plan who do not complete an hour of service with the Company on or after January 1, 2019, will be 0% vested in QACA contribution amounts if their years of service is less than 2 years and 100% vested if their years of service is 2 years or more. Participants shall be 100% vested if employed by New Era upon death or total and permanent disability. Former participants in the Telserve, LLC 401(k) Plan who do no not complete one hour of service on or after January 1, 2020, will be subject to the prior vesting schedule, as defined, as applicable and former participants who completed one hour of service will be 100% vested in matching and profit-sharing accounts. Former participants in the FlexManage 401(k) Plan who do not complete an hour of service with New Era on or after January 1, 2021 will be subject to the following vesting schedule for matching contribution amounts: 1 year, but less than 2 – 25% vested; 2 years, but less than 3 – 50% vested, 3 years, but less than 4 – 75% vested, 4 years or more – 100% vested and former participants shall be 100% vested if employed by New Era upon death or total and permanent disability. Former participants in the Pinnaca 401(k) Plan who do not complete one hour of service on or after July 1, 2021, will be subject to the prior vesting schedule, as defined, as applicable and former participants who completed one hour of service will be 100% vested in employer matching and profit-sharing accounts. Former participants in the Pinnaca 401(k) Plan will remain 100% vested in their safe harbor matching contributions. Former participants in the GCI 401(k) Plan who do not complete one hour of service on or after July 1, 2021, will be subject to the prior vesting schedule, as defined, as applicable and former participants who completed one hour of service will be 100% vested in employer matching and profit-sharing accounts. Former participants shall be 100% vested if employed by New Era upon death or total and permanent disability. Former participants in the GCI 401(k) Plan will remain 100% vested in safe harbor contributions. Active participants in the Comm-Works Investment Holding Co LLC 401(k) Profit Sharing Plan as of July 1, 2021, will vest immediately in both employer matching and employer-nonelective contributions. Terminated participants as of such date will vest in accordance with the prior vesting schedule under the Comm-Works Investment Holding Co LLC 401(k) Profit Sharing Plan.

Effective January 1, 2024, the Plan was amended to establish an automatic enrollment provision for new employees of the Plan Sponsor. Employees will be enrolled in the Plan at an amount equal to 3% of eligible compensation. The automatic enrollment provision is not applicable to participants who enter the plan due to an acquisition.

Each year, participants may make pre-tax contributions and after-tax Roth contributions, deferring a percentage of eligible compensation as specified by the Plan document, subject to Internal Revenue Service (IRS) regulations.

Participants may borrow from their fund accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Participants may generally only have one loan outstanding at any time; however, the Plan was amended to allow the transfer of multiple loans to the Plan for certain participants pursuant to Plan mergers or participation agreements. Loan terms range from one to five years or longer for the purchase of a primary residence or loans transferred pursuant to Plan mergers or participation agreements. The loans are secured by the balance in the participant’s vested account and bear interest at a reasonable rate, generally at 1.5% over the prime interest rate, ranging from 2.00% to 10.00%.