Genelabs considers employee benefits to be an essential part of our total compensation package. This summary provides highlights of the benefits and services that we offer, including medical, vision and dental, to all regular employees working more than 30 hours per week. (Regular part-time employees who work 20 to 30 hours per week receive similar benefits.) Genelabs provides the health plan at minimal cost to employees, with a small contribution paid by employees for dependent coverage.
This summary has been prepared for use as an overview and quick reference source. You should refer to Genelabs' summary plan descriptions or the official plan documents for more extensive information.
Life Insurance & Accidental Death
Genelabs 401(k) Savings Plan
Employees can contribute up to 50% percent of their salary (or the IRS annual maximum) as pre-tax savings into the Plan; several investment fund choices are available.
Flexible Benefit Plan
Employees may set aside pre-tax dollars for reimbursement of medical and dependent care expenses.
Genelabs makes available financial assistance to employees who want to further their education in fields of study related to Genelabs' business.
Incentive-Based Compensation Plan
Employees are eligible to receive bonus payments annually. Eligibility and amount received are based upon company and individual achievements.
Employee Recognition Awards
Rewards for individuals who make special contributions "above and beyond the call of duty" include On The Spot, Kudo, and Outstanding Performance Achievement awards.
Employee Referral Program
$1,000 award to eligible employees who refer someone who is hired by Genelabs.
Employee Stock Purchase Plan
Employees may purchase shares of Genelabs' common stock at a discounted price, and can contribute up to 15% percent of their salary into the plan, subject to certain limits.
The Board of Directors grants options at its discretion. Options generally vest over a four-year period, 25% the first year and pro rata monthly vesting thereafter.
- 15 days per year for the first 4 years of employment
- 20 days per year after 4 years of employment
11 holidays are observed each year: 9 are company designated, 1 is floating and 1 is voted on by employees.
Employee Assistance Program (EAP)
Genelabs' EAP offers confidential help to employees and their families in dealing with personal situations that may affect health and well-being. Services include individual and family counseling and referral for legal, financial and dependent care assistance.
Recreation and Fitness Center
Seaport Centre Exercise Facility is available to all Genelabs employees.
The following credit unions offer Genelabs employees competitive loan rates, checking and saving account options, with convenient Bay Area locations:
- San Mateo Credit Union
- Patelco Credit Union
A Genelabs tradition! At the end of each week, Happy Hour provides an opportunity for all employees to unwind, socialize and share refreshments.
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