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San Carlos,
California, USA

San Carlos Benefits

Nektar strongly believes that our people are essential to our success. This philosophy is revealed in our competitive benefits package, designed to improve employees' lives both on and off the job.

The following information describes some of the benefits Nektar offers our San Carlos employees.

These benefits only apply to Nektar Therapeutics San Carlos employees. Each plan or program has its own eligibility requirements. Nektar reserves the right to change or end its benefits plans or programs at any time. The preceding list and any descriptions of Nektar benefits on subsequent pages in this website are not intended as a summary of the plans or policies or as a description of their key features or details. In case of any conflict or question, the official plan documents or applicable policies, as amended from time to time, will govern.

Medical
Everyone's health care needs are different. Nektar offers a wide range of medical plans for its employees in the United States designed to ensure that employees can select the medical plan that best suits their individual and family needs.

Our medical plans are designed to provide employees and their eligible family members with extensive coverage and protection against certain medical expenses. Depending on their location, employees can choose from a number of health maintenance organizations (HMOs) and preferred provider organizations (PPOs).

In addition, Nektar offers a range of other medical and health-related benefits and programs, depending on location and medical plan, such as coverage for preventive care services, prenatal programs, and disease management programs.

Dental
Nektar dental options are designed to help employees pay for the costs of dental care for themselves and their eligible family members. Preventive, restorative, and surgical services, as well as orthodontia, are covered at varying levels. Participants may take advantage of reduced out-of-pocket costs when they use dentists in a nationwide network of participating providers.

Vision Care
Nektar offers eye care coverage which provides affordable, high-quality eye care coverage and offers the largest network nationwide.

Tax-Savings Benefits
Nektar flexible spending accounts allow employees to pay for certain health care and dependent care expenses before federal income taxes and Social Security taxes are withheld, enabling employees to pay less in taxes and have more disposable income.

Health Care Flexible Spending Account — This benefit allows employees to pay for up to $5,000 per year of eligible out-of-pocket health care expenses in tax-free dollars.

Dependent Care Flexible Spending Account — This benefit allows employees to pay for up to $5,000 per year of eligible child and elder care expenses per household in tax-free dollars.

Life Enrichment Programs
Nektar offers employees a number of benefits to enrich their lives and reward their work efforts.

Holidays and Vacations — Nektar will recognize 10 paid holidays in 2006. Nektar offers Personal Time Off beginning at four weeks.

Tuition Assistance — Nektar encourages opportunities to learn and grow. Employees can take advantage of our tuition assistance program, which provides employees up to 100% reimbursement up to $2,500 per year for the completion of business-relevant classes.

Stay Fit — Nektar offers a corporate "stay fit" program providing employees and their families access to local fitness centers at a discounted rate. In San Carlos there is a fitness room, onsite lockers, and a wellness program.

Accident and Life Insurance
Nektar life insurance benefits are designed to help employees provide financial security for their survivors in case of death.

Group Term Life Insurance — Nektar offers basic life insurance that provides benefits of up to 200% of base annual pay at no cost to employees.

Accidental Death and Dismemberment — Nektar offers accidental death and dismemberment coverage that provides up to an additional two years' salary at no cost to employees.

Retirement and Investment Savings Plans
Nektar offers a retirement savings 401(k) plan to help employees save for the future.

Retirement Savings Plan — Subject to limits under federal law, the Nektar 401(k) plan allows employees to contribute from 1% to 60% of salary on a pre-tax basis — up to a maximum of $13,000 in 2004 — to any combination of more than 100 investment options. The company matches up to 75% of the first 4% of an employee's contribution with Nektar Therapeutics stock. Employees may participate in the plan immediately upon hire and are completely vested in the company contribution after three years of service.

Short Term and Long Term Income Protection
Nektar offers medical leave programs that are designed to provide continuing income for employees unable to work due to illness, injury, or pregnancy.

Medical Leave — Our medical leave programs provide compensation for eligible employees unable to work due to illness or injury.

Extended Disability Plan — Eligible employees who are scheduled to work at least 30 hours per week may receive an extended salary-based monthly benefit under the Nektar Disability Plan.
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