401(k) Savings Plan — US

How it Works

Coworker Contributions

You can start, change, or stop your contributions at any time. You control how much you save and how it's taxed. Contribute 1% to 50% of your pay on a pre-tax or Roth basis — not to exceed the IRS maximum, through payroll deductions, in any combination of:

• Pre-tax contributions: Reduce your taxable income now; taxed when withdrawn each year automatically.
• Roth contributions: Taxed now; only earnings are taxed on withdrawal.
• Catch-up contributions: If you're 50 or older, you can contribute additional pre-tax or Roth dollars beyond the standard annual IRS limit.
• Rollovers: You can roll over pre-tax or Roth dollars from a former employer's qualified plan or an IRA and it does not count towards the annual IRS limit.

Company Match Contributions

After completing 1,000 hours of service during a consecutive 12-month period, Office Depot will match $0.50 for every $1.00 you contribute, up to the first 6% of your eligible earnings on a pre-tax basis per pay period (excluding catch-up contributions). The maximum matching contribution you may receive is 3% of eligible earnings.

Vesting

You're always 100% vested in your own pre-tax and Roth contributions, as well as any earnings on them. Office Depot's matching contributions and any earnings on them vest according to the following schedule:

Investing Your Funds

You can make separate elections for your existing balance and your future contributions, and change them anytime online or by phone. An automatic rebalancing option is also available if you'd rather set it and forget it.

You choose how your account is invested, with options built for every level of involvement:

• Target date funds — A diversified, professionally managed mix that automatically becomes more conservative as you approach your target retirement age (65). This is the default if you don't make an election.
• Core investment funds — Build your own mix based on your risk tolerance and goals.
• Conservative income fund — A lower-risk option blending core investments.
• Brokerage account — For hands-on investors who want access to a wider range of publicly traded securities.

Disclaimer: As with any investment, account values can go up or down, and no option is guaranteed. Review your quarterly statement, including your elections and balances.

How to Enroll

When you enroll, you'll choose how much of your pay to contribute and how to invest it. If you don't make an investment election, your contributions default to one of the T. Rowe Price Retirement Balanced Trust Class B options based on your birth dates and target retirement date. Getting started is simple, and in many cases, it happens automatically.

• Automatic Enrollment — Unless you opt out, you'll be automatically enrolled and 3% of your pre-tax eligible earnings will begin going into the Plan about 60 days after your hire date (or the date you become eligible).
• Annual Increase Program — If you’re automatically enrolled, you’ll also be placed in the Annual Increase Program, which raises your contribution by 1% each year up to 10%. To opt out, unenroll online or contact a 401(k) representative.
• Changed your mind? — If you opt out within 60 days of your eligibility date, you can change your contribution rate to 0% and it will withdraw you from having automatic contributions.
• Want to enroll sooner or choose your own rate? — You can enroll, change your contribution amount, or update your investment elections anytime at netbenefits.com/ODP or by calling 888-954-4636.

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