Nautilus 2009 Annual Report Download - page 59

Table of Contents
In 2009 and 2008, there were 1.4 million and 2.2 million shares, respectively, issuable upon exercise of stock options, restricted stock and
performance units that were not included in the calculation of diluted earnings per share because the effect would have been anti-dilutive.
(14) EMPLOYEE BENEFIT PLAN
The Company adopted a 401(k) plan, the Nautilus, Inc. 401(k) Savings Plan (“401(k) Plan”), in 1999 covering substantially all regular
employees over the age of 18. Each participant may contribute up to 75% of eligible compensation during any calendar year, subject to certain
limitations. Subject to the approval of the Company’s Board of Directors, the 401(k) Plan provides for Company matching contributions of
100% of the first 1% of eligible earnings contributed by the employee, and an additional 50% match for earnings contributed over 1% and up to
6%. Matching contributions vest at 25% after the first year of service, and are fully vested after the second year. On April 19, 2009, the
Company suspended matching contributions. On April 18, 2009, all participating employees and all participating employees terminated between
July 24, 2008 and April 18, 2009 became fully vested in their matching company contributions. Company’s contributions to the 401(k) Plan
were $0.3 million and $1.2 million in 2009 and 2008, respectively.
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