1998
Financial Statements
| The following information is excerpted from Noven's 1998 Annual Report to Shareholders. |
|
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Notes
to Financial Statements
Years
Ended December 31, 1998, 1997 and 1996
401(k) Saving Plan
On January 1, 1997, Noven established a saving plan under section 401(k) of the Internal Revenue Code (the "401(k) Plan") covering substantially all employees who have completed three months of service and have reached the age of twenty-one. This plan allows eligible participants to contribute from one to fifteen percent of their current compensation to the 401(k) Plan.
Noven determines, on a year-to-year basis, the amount, if any, that it will provide as a matching contribution. For the years ended December 31, 1998 and 1997, Noven made no matching contributions.
Copyright © 1999 Noven Pharmaceuticals, Inc. All rights reserved.