Form S-1 Table of Comeau employee's eligible compensation contributed to the 401(k) Plan and 50% on the next 2% of the employee's eligible compensation contributed to the 401(k) Plan. Employees are 100% vested in matching Company contributions when such contributions am made. The Company may make non- elective contributions to employee. Employees become 20% vested in non-elective contributions per year of service up to 100% vested alter five years of service. Potential Payments Upon Change of Control Kurt's offer letter provides that, in the event of a change of control all his unvested options will become fully vested and exercisable. In addition, in the event of a change of control all of his account balances in the Company's 401(k) plan, including any unvested balances from Company matches, will automatically and fully vest. The Company will also reimburse him for the actual cost of COBRA coverage for up to the maximum period of time permitted by law if his employment terminates following a change of control. Mike's offer letter provides that, solely in the event of his termination without "cause" or for "good reason" (as such terms arc defined in Mike's offer letter) in connection with or within 12 months of a change of control, subject to his signing a standard release of claims, all his unvested options will become fully vested and exercisable. In addition, all of his account balances in the Company's 401(k) plan. including any unvested balances from Company matches, will automatically and fully vest and the Company will reimburse him for the actual cost of COBRA coverage for up to the maximum period of time permitted by law. We currently have no formal change of control arrangements with Billy. The Company expects to adopt a formal executive severance policy in connection with this offering. Equity Compensation Plans and Stock Purchase Plans The following description of each of our equity compensation plans is qualified by reference to the f