standards in assessing performance, ensuring fairness and minimizing bias across and within teams. Calibrations also allow us to better monitor the advancement and upward mobility of underrepresented groups. Rewards and Wellness We offer high-quality benefits, wellness initiatives, and a competitive compensation package designed to attract new employees and retain, motivate, and reward current employees. Our compensation philosophy is comprised of two pillars: market competitiveness and peer equity. We ensure that our compensation is fair for all employees, regardless of classifications, such as race and gender. We actively work to reduce unconscious bias in our hiring practices, performance reviews, and promotion opportunities, and routinely run a rigorous compensation analysis taking into account factors that impact pay, like role, level, location, and performance. We generally offer all full-time employees equity at the time of hire and through annual equity grants, as well as provide an employee stock purchase plan, to foster a strong sense of ownership and engage our employees in being committed to our long-term success. Our full-time employees are eligible to receive, subject to the satisfaction of certain eligibility requirements, our comprehensive benefits package including our medical, dental and vision insurance and life and disability insurance plans. Healthcare coverage premiums are fully-paid and include a company funded Health Reimbursement Account. In addition, we provide time off and paid parental leave, as well as maintain a tax-qualified 401(k) retirement plan that provides eligible employees with an opportunity to save for retirement on a tax-advantaged basis. We recently announced a 401(k) match for eligible employees starting January 1, 2022. We will match the first 3% contributed by eligible employees at 100% or dollar- for-dollar, and the next 2% contributed at 50%, subject to annual contribution limits set forth in the Internal Revenue Code of 1986, as amended. Employee Engagement Every year we undertake a robust employee engagement survey, and we are proud that we have had more than 95% participation each year it has been completed. We benchmark the responses we receive against the prior year’s survey and against a peer set of technology companies. Compared to our peers, our employees rate us significantly higher in service and quality focus, collaboration, communication, action, and innovation. We take our employees’ feedback seriously, and we have assessed and optimized many of our practices over time based on the feedback we received through our employee engagement survey. As we grow and scale our business and employee base, we will continue to make investments in training and development of our employees, including leadership development, mentorship programs, skills development, on-the-job- training, and DEI programs. Our workforce has a long history of being remote and distributed, with more than 65% of employees working from home prior to the COVID-19 pandemic. We are proud of our remote distributed work culture, and we have a concerted focus on fostering culture and community across all of Team Olo. We work hard to make sure that all employees, including those working remotely, are fully engaged with the company and their respective teams. COVID-19 Response Our history of operating as a remote distributed workforce, along with our initiatives to develop a strong remote working environment, proved valuable as employees continue to work remotely in response to the COVID-19 pandemic. We have adopted a policy permitting all of our employees, inclusive of those local to our New York City headquarters, to elect whether to work remotely or from the office. We believe it is important for the physical and mental health, well-being and safety of our employees to provide this optionality. With this transition, we began providing a variety of additional resources and benefits to help our employees effectively navigate the impacts of the COVID-19 pandemic as it relates to their physical, financial, and mental well-being, as well as their productivity. Such measures include a new policy to permit employees to take time off from work for COVID-19 related issues, without the need to use Paid Time Off hours. We also launched additional remote engagement opportunities to support our remote workers and our workplace community. We conduct employee surveys to help us understand how we are doing as an employer and identify employee concerns specifically in the context of handling COVID-19 requirements for our office location and the impact of the pandemic on our employees. We will continue to monitor updates regarding reopening our office in accordance with federal, state, and local public health safety guidance. We have instituted safety protocols and procedures for employees who choose to work from our 11