Employee Benefits at SatCon Technology

Benefits described below pertain to full and part-time regular employees working 20 or more hours per week. The descriptions of the benefits and policies outlined here are summary statements only and are not intended to be definitive. In all instances, the full text of the plan, policy or other appropriate document must be reviewed to determine the rights, benefits, and obligations of employees and SatCon.

SatCon reserves the right to alter and/or terminate any or all of these plans without notice.

• U.S. Based SatCon Employees
• Canada Based SatCon Employees

Benefits Summary - U.S. Based Employees

Medical Coverage
Eligible employees may choose one of two Blue Cross and Blue Shield products: a preferred provider organization or an HMO. Both plans provide coverage for eligible hospital care and physician's care, physical exams, well-baby care and more. Each Medical plan offers coverage for individuals, families, and spousal equivalents.

Prescription Drug Coverage
Both medical plans include a prescription drug benefit. Under these plans you pay only a small co-payment for your medication.

Dental Coverage
Under SatCon’s Delta Dental plan, eligible employees are covered for a broad range of preventative, basic and major restorative services.

Life and AD&D policy
SatCon provides Life Insurance at two times your annual salary at no cost to the employee. An accidental death and dismemberment policy is also provided free of charge.

Optional Life Insurance Coverage
Eligible employees may elect additional life insurance coverage through Liberty Mutual at a group discount rate.

Disability Income Protection
In the event that an eligible employee becomes disabled and unable to work, SatCon provides them with Long Term Disability Coverage. SatCon also provides non-exempt employees Short Term Disability Coverage.

Flexible Reimbursement Health and Dependent Care Accounts
Eligible employees can defer up to $5000 pretax dollars annually to a flexible reimbursement account to pay for health-care expenses not covered by your medical or dental insurance plan. In addition to health care expenses, employees can contribute up to $5000 annually to a dependent-care flexible reimbursement account to be used to pay for the care of a child under 13 or a dependent or disabled adult.

Time Off with Pay
Each year, eligible employees receive time off with pay for vacation, holiday and sick days (if needed).

Paid vacation time accrues according to the following schedule:

401K Plan
SatCon offers a self-directed account into which eligible employees may contribute up to 100% of their earnings on a pretax basis.

Safe Harbor Match:
As an additional incentive for employees to save, SatCon will match any pretax 401K savings by 100% or dollar for dollar for every pretax dollar that you save-up to the first 6% of your contribution. This match is automatically 100% vested and is made in shares of SatCon Technology Corporation Common Stock. This match is contributed quarterly.

Investment Control:
Employees decide how to invest their 401K savings, by moving their funds among the 17 available investment accounts and 5 investment models.

Portability:
Employees are free to take their funds and the vested portions of any funds SatCon has deposited on their behalf with them, should they terminate their employment. Since the plan is specifically designed for long-term, tax-sheltered savings, certain government restrictions and penalties do apply.

Access to your accounts:
While the primary purpose of the 401K plan is to encourage savings for retirement, SatCon recognizes that you may have unexpected financial needs to address. A provision is available to access your money in the plan through a loan. The loan amount must be paid back with interest. You may have a total of two loans outstanding at any one time.

Eligibility:
Full time and part time, regular employees of SatCon and its subsidiaries are eligible to join the 401K Plan on their date of hire.

Group Savings Plus

SatCon offers Group Savings Plus, a comprehensive program from Liberty Mutual. This program features auto and homeowners insurance at discounted group rates along with convenient payroll deductions as a payment option. There is a 5% discount on auto, homeowners, condo and renter’s insurance. If you choose to insure both your auto and home you will receive an additional 10% discount on your homeowners, condo or renters insurance.

Tuition Assistance

SatCon offers a tuition reimbursement program. This program is available to all regular full and part time employees. The plan runs on a calendar year and the maximum amount of reimbursement per year is $4,000. Tuition, registration fees, laboratory fees and textbooks are eligible under the reimbursement program. Employees must receive prior approval for all courses and satisfactory grades are required for reimbursement.

Benefits Summary - Canadian Based Employees

Employees are eligible for group life and health benefits upon hire. SatCon pays all premiums for this plan, with the exception of long-term disability premiums. Long Term Disability is employee paid.

Health Insurance

Health insurance is provided through Ontario Health Insurance Plan (OHIP), this plan covers a wide range of health services. OHIP covers all essential diagnostic and treatment services provided by physicians including home visits and services provided in hospitals, where appropriate. OHIP also covers services provided by podiatrists, osteopaths, as well as others. Physiotherapy services are covered for anyone age 65 and over.

Dental

There is no deductible for this benefit; payment is in Accordance with the 1998 Dental Association Suggested Schedule of Fees for General Practitioners.

Life Insurance

The company pays for 200% of an eligible employees annual earnings, to a maximum of $500,000. Employees may elect Optional Life coverage and optional spousal coverage as well. The company also offers dependent life coverage of $10,000 for a spouse and $5,000 for dependent children.

Accidental Death and Dismemberment

This benefit provides a lump sum cash benefit in the case of Accidental Death or Dismemberment occurring on or off the job.

Long Term Disability

Our plan provides financial protection by paying a portion of your income while you are disabled and unable to work. Benefits begin after a 120-elimination period.

Short Term Disability

Only non-exempt employees are provided with this coverage. Benefit payments are non-taxable and are payable immediately, if due to an accident and after the 7 th day, if due to sickness up to a maximum of 17 weeks. Benefits are 67% of weekly earnings, to a maximum benefit of $900.

Hospital Benefits

The accommodation is the difference between the public ward allowance under the Provincial Hospital Plan and the semi-private room rate in a Licensed Hospital.

Pay Direct Drugs

This benefit has no deduction per prescription and employees are reimbursed 90% of eligible charges. The maximum dispensing fee is $5.00 per Drug Identification Number.

Medi-Pack

There is no deductible and employees are reimbursed at 80% of eligible charges.

SatCon Registered Retirement Savings Program (RRSP)

• The Company will contribute quarterly, 3% of an employee’s base annual wage.
•  This plan is offered through Open Access Limited.

(The employer contribution amount is calculated on the employee’s current year’s base income as January 1.)

Personal Registered Retirement Savings Program

All employees are eligible to participate in a Registered Retirement Savings Program. The plan is self-contributing and contributions are made through payroll deductions from before tax earnings.