401(k) Profit Sharing Plan

The Vibra-Tech Engineers, Inc. 401(k) Profit Sharing Plan and the GeoSonics, Inc. 401(k) Profit Sharing Plan (the Plans) were created for the benefit of employees of the respective companies. You will be eligible to participate once you meet the age and service requirements of the Plan. Participants must be at least eighteen (18) years old and complete 1,000 hour of service in a Plan year.

On an annual basis, the Board of Directors of Vibra-Tech and GeoSonics determine the amount of employer contributions to be made. To share in the Company contribution, you must have worked at least 1,000 hours during the plan year and still be employed on the last day of the Plan year. Historically, employer contributions of 15% of salaries have been authorized by the Board for all eligible employees. The Plans use Manning & Napier Advisors, Inc. as the investment advisors and all the assets of the Plan are held in a trust fund by AmeriServ Trust & Financial Services, the custodian.

A signed application to participate in the Plan is required. You will receive the Summary Plan Description, Application for Participation and Designation of Beneficiary Form and Participant’s Voluntary Contribution election and/or Catch-up Salary Deferral Election Form, as applicable, for the appropriate Plan available to you. Employee contributions are 100% vested at all times.

Employer contributions are subject to the vesting schedule which provides for 100% vesting after 6 years of service. You will be eligible to make employee contributions to the Plan after completing 1,000 hours of service with the company. The major advantage of this benefit is the tax-deferral treatment of contributions and earnings until funds are withdrawn, normally upon retirement.