Kelly Retirement Savings Plan - Merrill Lynch · Kelly Retirement Savings Plan Summary Plan...

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Kelly Retirement Savings Plan Summary Plan Description January 1, 2016 This is only a summary intended to familiarize you with the major provisions of the Plan. If you have any questions and before you make important decisions based on your understanding of the Plan from this summary, you should contact the Administrator at the address shown at the end of this summary.

Transcript of Kelly Retirement Savings Plan - Merrill Lynch · Kelly Retirement Savings Plan Summary Plan...

Kelly Retirement Savings Plan

Summary Plan Description

January 1, 2016

This is only a summary intended to familiarize you with the major provisions of the Plan. If you have anyquestions and before you make important decisions based on your understanding of the Plan from this summary,you should contact the Administrator at the address shown at the end of this summary.

This summary and the information contained herein are the property of Kelly Services, Inc. and are to be usedsolely in your capacity as an employee of Kelly Services, Inc. This summary is to be returned to your supervisorin the event you leave your employment. Duplication for any reason, disclosure to unauthorized persons, or usefor any other purpose is strictly prohibited unless prior written approval is obtained from an officer of KellyServices, Inc. Any violation of the above will be dealt with to the full extent of applicable laws. Federal lawprovides severe civil and criminal penalties for the unauthorized reproduction and/or distribution of copyrightedmaterial. (Title 17, Sections 505, 508.)

© 2016 Kelly Services, Inc. All rights reserved.

Kelly Retirement Savings Plan

Summary Plan Description(January 1, 2016)

TABLE OF CONTENTS

Page

INTRODUCTION ................................................................................................................................................. 1Your Plan Account........................................................................................................................................ 1Sponsor Has Discretion to Interpret Plan ...................................................................................................... 1

ELIGIBILITY & PARTICIPATION ........................................................................................................................ 1Eligibility....................................................................................................................................................... 1Participation ................................................................................................................................................. 2Transfers of Employment and Reemployment .............................................................................................. 3

EMPLOYEE CONTRIBUTIONS........................................................................................................................... 3CATCH-UP CONTRIBUTIONS............................................................................................................................ 3LIMITATIONS ON CONTRIBUTIONS.................................................................................................................. 3

Vested Interest in Your Contributions............................................................................................................ 4How to Change, Suspend or Resume Your Contributions ............................................................................. 4

ROLLOVER CONTRIBUTIONS........................................................................................................................... 4EMPLOYER CONTRIBUTIONS .......................................................................................................................... 5

Employer Matching Contributions ................................................................................................................. 5Employer Discretionary Contributions ........................................................................................................... 5Government Contract Contributions.............................................................................................................. 5Eligibility to Participate in Employer Contributions......................................................................................... 5Vested Interest in Employer Contributions .................................................................................................... 5

INVESTMENT OF PLAN CONTRIBUTIONS ....................................................................................................... 5MAKING INVESTMENT ELECTIONS.................................................................................................................. 6

Investment Elections .................................................................................................................................... 6Failure to Direct Investments ........................................................................................................................ 6ERISA Section 404(c) Plan........................................................................................................................... 6

VALUING YOUR PLAN ACCOUNT .................................................................................................................... 6LOANS FROM YOUR PLAN ACCOUNT............................................................................................................. 6IN-SERVICE WITHDRAWALS ............................................................................................................................ 7

Overall Conditions and Limitations on Withdrawals....................................................................................... 7Withdrawals After Age 59½ .......................................................................................................................... 7Qualified Reservists Withdrawals of 401(k) Contributions……………………………………………..............…..7Hardship Withdrawals .................................................................................................................................. 7Application for Hardship Withdrawals............................................................................................................ 8

FORFEITURE OF NON-VESTED AMOUNTS...................................................................................................... 8Recrediting of Forfeited Amounts.................................................................................................................. 8

DISTRIBUTION OF YOUR PLAN ACCOUNT...................................................................................................... 9Timing of Distribution.................................................................................................................................... 9Suspension of Distribution............................................................................................................................ 9Distribution to Your Beneficiary..................................................................................................................... 9Cash Outs of Plan Accounts and Consent to Distribution .............................................................................. 9Direct Rollover Requirements ....................................................................................................................... 9Required Distributions ................................................................................................................................ 10

FORM OF PAYMENT........................................................................................................................................ 10YOUR BENEFICIARY UNDER THE PLAN........................................................................................................ 10

Beneficiary if You Are Married .................................................................................................................... 10Beneficiary When There is No Designated Beneficiary ............................................................................... 10Spousal Consent to Beneficiary Designation............................................................................................... 10

Direct Rollovers for Beneficiaries ................................................................................................................ 11CLAIMS FOR BENEFITS .................................................................................................................................. 11AMENDMENT AND TERMINATION OF THE PLAN.......................................................................................... 12

Plan Amendment........................................................................................................................................ 12Plan Termination ........................................................................................................................................ 12

MISCELLANEOUS INFORMATION .................................................................................................................. 12Plan Summary Does Not Create Employment Contract .............................................................................. 12No Guarantees Regarding Investment Performance ................................................................................... 12Administrative Expenses Paid from Trust.................................................................................................... 12Assignment of Benefits............................................................................................................................... 13Loss of Benefits.......................................................................................................................................... 13Return of Contributions to Your Employer................................................................................................... 13Tax Considerations .................................................................................................................................... 14Contributions.............................................................................................................................................. 14Distributions ............................................................................................................................................... 14Income Tax Withholding ............................................................................................................................. 14Company Taxation ..................................................................................................................................... 14Electronic Transmission ............................................................................................................................. 14

MORE THINGS YOU SHOULD KNOW ............................................................................................................. 14YOUR RIGHTS UNDER THE PLAN .................................................................................................................. 15ADDITIONAL INFORMATION........................................................................................................................... 17DEFINITIONS.................................................................................................................................................... 18

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Kelly Retirement Savings Plan

Summary Plan Description(January 1, 2016)

INTRODUCTION

Kelly Services, Inc. (the "Company") maintains the Kelly Retirement Savings Plan (the "Plan") to help you buildfinancial security for your retirement. The Plan does this by providing you an opportunity to save for yourretirement while simultaneously reducing your federal income tax liability (and possibly your state income taxliability) with your Employee Contributions, Catch-Up Contributions and any available Employer MatchingContributions, Employer Discretionary Contributions and Government Contract Contributions.

This Summary Plan Description (the "Summary") describes the Plan as in effect on January 1, 2016. The formalPlan documents govern the administration and interpretation of your rights under the Plan. You will see certaincapitalized terms throughout the document. The capitalized terms are defined in the DEFINITIONS section at theend of the Summary.

Your Plan Account

You have your own Account under the Plan to hold all contributions you make to the Plan and any contributionsthe Company makes to the Plan on your behalf. Your Plan Account also holds any investment earnings on thosecontributions. Each type of contribution, if any, to the Plan will be separately accounted for as follows:

1. Employee Contributions2. Catch-Up Contributions3. Any Employer Matching Contributions4. Any Employer Discretionary Contributions5. Any Government Contract Contributions6. Rollover Contributions

These Contributions will be discussed in detail on the pages that follow.

Sponsor Has Discretion to Interpret Plan

The Sponsor has the discretionary authority to interpret the provisions of the Plan, to determine your eligibility forbenefits under the Plan and to resolve any disputes that arise under the Plan. The Sponsor may delegate thisauthority. Also, in the event of any difference or conflict between this Summary and the Plan, the Plan documentwill control.

ELIGIBILITY & PARTICIPATION

Eligibility

You are eligible for the Plan if you are an employee of the Company or a Participating Employer of the Plan,classified on its payroll records as a “technical”, “assigned”, “temporary”, “contract” or “government contract”employee at a customer branch, division or location to which coverage under the Plan has been extended andpaid through a temporary payroll (a “Covered Employee”).

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You are not a Covered Employee if you are:

An individual with respect to whom an Employer does not withhold income or employment taxes and fileForm W-2 (or any replacement Form) with the Internal Revenue Service because such individual hasexecuted a contract, letter of agreement, or other document acknowledging his status as an independentcontractor who is not entitled to benefits under the Plan or is otherwise not classified by his Employer as acommon law employee, even if such individual is later adjudicated to be a common law employee of hisEmployer, unless and until the Employer extends coverage to such individual.

A Leased Employee.

Working on an assignment for a customer to whom the Company has not extended the Plan;

Subject to a collective bargaining agreement that does not provide for participation in the Plan;

Classified by the Company as a staff or regular employee;

Paid on a payroll system designated for staff or regular employees;

A Highly Compensated Employee;

Based in a Puerto Rican operation or location;

A non-resident alien who does not receive United States source income;

A non-United States citizen working in a foreign country; or

A (i) non-United States citizen (regardless of whether you perform services in the United States or abroador for the Company or other Participating Employer of the Plan) and (ii) if you are performing services inthe United States, you either (I) are on a formal international assignment in the United States or (II)continue to be covered under your home country government retirement system or your home countryemployer-provided retirement benefit program.

Note: In the event the employment status of any excluded employee is reclassified (including by anygovernmental agency or court) from that of an ineligible position to that of a Covered Employee, such reclassifiedemployee nevertheless will not be considered a Covered Employee for purposes of the Plan and, therefore, willnot be entitled to receive prior Employer Contributions under the Plan as a result of the reclassification.

Participation

As a Covered Employee, you will become a Participant of the Plan and therefore are eligible to make EmployeeContributions and Catch-Up Contributions to the Plan and receive Employer Matching Contributions,Discretionary Employer Contributions and Government Contract Contributions under the Plan on the first day ofthe payroll period coinciding with or immediately following your date of hire (or, if later, the date you attain age18).

Notwithstanding the foregoing, an Employee who performs services covered by a Prevailing Wage Law shallbecome an Eligible Employee for purposes of Government Contract Contributions as of the date he becomes aCovered Employee.You must enroll in the Plan. When you become eligible to participate in the Plan you should visit Benefits OnLineat www.benefits.ml.com or call 800-228-4015 to:

1. Choose the percentage of your Compensation you wish to contribute to the Plan; and

2. Specify the fund(s) in which you want your contributions invested.

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Transfers of Employment and Reemployment

If you transfer from other employment within the Company to employment as a Covered Employee, you will beeligible to begin participation in the Plan as of your transfer date (or later date) in accordance with the agerequirements described above under ELIGIBILITY & PARTICIPATION.

If you have satisfied the requirements described above under ELIGIBILITY & PARTICIPATION and you are nolonger on an assignment for, and you are no longer an employee of, the Company, you will be eligible to beginparticipation in the Plan if you are later reemployed as a Covered Employee as of your reemployment date.Otherwise, you will begin participation in the Plan at the time provided under ELIGIBILITY & PARTICIPATION.

If after you become a Participant of the Plan you transfer employment to another Participating Employer of thePlan, your current contribution elections will continue in effect without change and will apply to yourCompensation paid from your new Participating Employer. However, if you transfer to a Related Company whichis not a Participating Employer of the Plan, then you will no longer be a Covered Employee of the Plan and yourcontribution elections will be suspended. For information regarding your contribution elections, see EMPLOYEECONTRIBUTIONS.

If you have questions regarding your transfer, contact Kelly's Benefits Department at 800-376-4964.

EMPLOYEE CONTRIBUTIONS

You may elect to contribute a percentage of your Compensation to the Plan on a pre-tax basis. Your election tomake Employee Contributions to the Plan authorizes the Company to reduce the amount of your Compensationand to contribute that amount to the Plan. Your Compensation will be reduced and your Employee Contributionswill begin as soon as administratively possible after the date your election is effective.

You may authorize the Company to withhold from your Compensation each payroll period as EmployeeContributions from 2% to 50%, in whole percentage increments, of your Compensation. Keep in mind that yourEmployee Contributions are subject to a legal annual limit (i.e., $18,000 for 2016) for individual contributions andother limitations described in LIMITATIONS ON CONTRIBUTIONS.

You should make investment elections at the same time you make your contribution election. Investmentelections are discussed in further detail in MAKING INVESTMENT ELECTIONS.

CATCH-UP CONTRIBUTIONS

If you are, or will be, age 50 or older as of the end of a calendar year, you may elect to make Catch-UpContributions for that year up to the legal annual limit (i.e., $6,000 for 2016). Catch-Up Contributions areadditional deferrals that are available if you are actively contributing to the Plan.

Your election to make Catch-Up Contributions to the Plan authorizes the Company to contribute that amount tothe Plan. Your Catch-Up Contributions will begin after you have contributed the annual maximum for the year.To elect this option please contact Kelly's Benefits Department at 1-800-376-4964 and request the Catch-UpContribution form. You can also access this form on Benefits OnLine at www.benefits.ml.com. This electioncannot be made on-line.

LIMITATIONS ON CONTRIBUTIONS

If the Administrator determines that the amount you authorize the Company to withhold from your Compensationas Employee Contributions or Catch-Up Contributions would exceed the maximum amount permitted for the year,the Administrator will stop your Employee contributions when you have reached the annual maximum.

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You must notify the Administrator of the amount of any elective deferrals you make under any other plan thatexceed these legal limits for the calendar year by March 1st of the next calendar year. The Plan will distribute theexcess amount to you by April 15th.

Vested Interest in Your Contributions

You are always 100% vested in the value of your Employee Contributions and Catch-Up Contributions (includingany investment gains or losses on them) in your Plan Account.

How to Change, Suspend or Resume Your Contributions

You may change, suspend or resume the amount of the contributions you make to the Plan at any time by makinga new election under the procedures established by the Administrator. You may contact Merrill Lynch to make anew election by calling 800-228-4015 or accessing www.benefits.ml.com. When you elect to start, change or stopyour payroll deductions, it is your responsibility to monitor each paycheck to ensure that the change has beenimplemented correctly and the proper deduction is being made. Please notify Kelly's Benefits Department at 800-376-4964 immediately to request any corrections. Corrections generally cannot be made retroactively.

Please keep in mind that:

If you stop or reduce Employee Contributions or Catch-up Contributions, the amount you are no longercontributing is added to your W-2 earnings and is subject to regular payroll withholding taxes.

If you stop your contributions or reduce them to less than the applicable match level, your EmployerMatching Contributions will be reduced accordingly.

ROLLOVER CONTRIBUTIONS

If you are a Covered Employee (even if not yet a Participant), you may elect to roll over qualified distributions fromanother 401(k) plan, a qualified 401(a) or 403(a) plan or a 403(b) plan (excluding after-tax contributions and Roth401(k) contributions) into the Plan. The Internal Revenue Code governs whether a distribution from an eligibleretirement plan qualifies for rollover into the Plan. The Administrator may require you to provide information toshow that the distribution you want to rollover qualifies under the Internal Revenue Code.

If the distribution qualifies, you may roll it over into the Plan through direct rollover or delivery to the Trustee. Anycontributions that you rollover to the Plan must be delivered to the Trustee within 60 days of the distributioncheck.

All of your Rollover Contributions will become subject to the terms and conditions of the Plan and will only bedistributable to you under the terms of the Plan. Rollover Contributions are not eligible for Hardship Distributions.

You are always 100% vested in the value of your Rollover Contributions (including any investment gains or losseson them) in your Plan Account.

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EMPLOYER CONTRIBUTIONS

This section applies to you only if you are working on an assignment for a customer to whom the Company hasextended this provision of the Plan. The Plan permits the Company to make Employer Contributions to the Plan.You are not taxed on any Employer Contributions that may be made on your behalf until distribution is made toyou.

Employer Matching Contributions

If the Company has extended Employer Matching Contributions to your Assigned Customer, the Company willmake an Employer Matching Contribution to the Plan in an amount based on the matching formula applicable toyou of Employee Contributions and Catch-Up Contributions made each payroll period, up to a percentage of yourCompensation agreed between the Company and your Assigned Customer.

Employer Discretionary Contributions

If the Company has extended Employer Discretionary Contributions to your Assigned Customer, the Companymay, in its discretion, make an Employer Discretionary Contribution to the Plan for you in an amount determinedby the Company, in its sole discretion.

Government Contract Contributions

If you are classified by your Employer as a government contract employee during a payroll period, your employermay make a contribution to the Plan for each hour you work on the government contract during the payroll periodat a rate determined by your Employer.

Eligibility to Participate in Employer Contributions

You are eligible to participate in Employer Matching Contributions and Government Contract Contributions, if youare a Participant on any day of the applicable payroll period to which the contributions relate. You are eligible toparticipate in Employer Discretionary Contributions if you are a Participant on the last day of the Plan Year.However, this last day allocation requirement does not apply if you are no longer on an assignment for, and youare no longer an employee of, the Company during the Plan Year because of your death or because you areDisabled.

Vested Interest in Employer Contributions

Your vested interest in Employer Contributions made to your Account for 2001 and later Plan Years will always be100%.

Your vested interest in Employer Contributions made to your Account for Plan Years before 2001 will be 100%after you accrue 5 years of vesting service. Even if you had not completed enough years of Vesting Service to be100% vested in the value of your Employer Contributions Accounts, you became 100% vested if you were anemployee of the Company on or after your Normal Retirement Date, or you died or become Disabled while youwere still in the employment of the Company or any Related Companies.

INVESTMENT OF PLAN CONTRIBUTIONS

You direct how contributions to your Plan Accounts are invested. Investment Options are available to you underthe Plan for this purpose. A description of the different Investment Options available can be found on BenefitsOnLine at www.benefits.ml.com. New Investment Options may be added, and existing Investment Options maybe changed. The Administrator will update the description of the available Investment Options to reflect anychanges.

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MAKING INVESTMENT ELECTIONS

Investment Elections

You may contact Merrill Lynch by calling 800-228-4015 or accessing Benefits OnLine at www.benefits.ml.com tomake an investment election and direct how contributions to your Plan Account are to be invested. Yourinvestment election must specify the percentage of the contributions to your Plan Account, in whole percentageamounts, that is to be invested among the Investment Options.

Please note that changing your investment selections for future contributions and reallocating your Accountbalance are two separate transactions. If you have created a Password for Benefits OnLine, you can use thatwhen prompted for your PIN on the phone system. If you need a PIN, you can create one by following theprompts. Any time you create (or reset) a Password for Benefits OnLine, that Password will replace your PIN foraccess to your account by phone.

You should read the Fund Fact Sheet for each fund carefully before making your investment elections.

Failure to Direct Investments

If you do not direct how the contributions to your Plan Account are to be invested, the contributions will beinvested in the Plan's default fund which is currently the appropriate BlackRock LifePath Index Fund based onyour birth year and estimated retirement age of 65.

ERISA Section 404(c) Plan

Since you control the investment of your contributions and the Plan is intended to comply with the fiduciaryresponsibility provisions of Section 404(c) of the Employee Retirement Income Security Act of 1974, as amended("ERISA"), Plan fiduciaries are not liable for losses which may result from your investment elections. See NoGuarantees Regarding Investment Performance. Upon your request, the Administrator will furnish you withany available financial reports or statements, and investment performance of each fund determined net ofexpenses.

Information that can be found on a Fund Fact Sheet includes:

A description of the annual operating expenses of the fund and the aggregate amount of such expensesexpressed as a percentage of average net assets of the designated investment alternative;

A list of the assets comprising the fund along with the value of each asset; and

Information concerning the value of shares or units in the fund.

VALUING YOUR PLAN ACCOUNT

The Trustee adjusts the value of your Plan Account on each Valuation Date to show any earnings or losses onyour investments, any distributions that you have received and any contributions that have been made to yourPlan Account since the preceding Valuation Date.

Within a reasonable period of time after the end of each quarter of the Plan Year, the Administrator will provideyou with notice of the value of your Account. Within 11 and 1/2 months of the end of each Plan Year, theAdministrator will provide you with a copy of the Plan’s summary annual report.

LOANS FROM YOUR PLAN ACCOUNT

The Plan does not allow Participants to borrow against their interest in the Plan.

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IN-SERVICE WITHDRAWALS

Under certain circumstances, you may make withdrawals from your Plan Account while you are still employed bythe Company. Participants may make two types of withdrawals from the Plan: Age 59½ Withdrawals or HardshipWithdrawals.

Overall Conditions and Limitations on Withdrawals

You may request a withdrawal from your Plan Account, by completing an In-Service Distribution Request Form ora Hardship Distribution Request Form which you may obtain by contacting Merrill Lynch by calling 800-228-4015or accessing www.benefits.ml.com, or by calling Kelly's Benefits Department at 800-376-4964. Before youexercise any of your withdrawal options under the Plan (e.g., withdrawals before age 59½), you should consultwith your personal tax advisor.

If your withdrawal is an eligible rollover distribution, as described in Direct Rollover Requirements, thewithdrawal may be subject to mandatory 20% federal income tax withholding. A Hardship Withdrawal is ineligiblefor rollover and may be subject to an additional 10% tax on the amount of the withdrawal. You should contact theAdministrator and your tax advisor if you have questions regarding the amount of tax that you will pay on yourwithdrawal.

Withdrawals After Age 59½

Once you reach age 59½, you may elect to withdraw from your Employee Contributions, Catch-Up Contributionsand Rollover Contributions Accounts and the vested portion of your Employer Matching Contributions,Government Contract Contributions and any previous Employer Discretionary Contributions Accounts. You mayobtain an age 59½ withdrawal by contacting Merrill Lynch by calling 800-228-4015 or accessingwww.benefits.ml.com or by calling Kelly's Benefits department at 800-376-4964. You should consult your taxadvisor before exercising your withdrawal options under the Plan.

Qualified Reservists Withdrawals of 401(k) Contributions

Notwithstanding any other provision of the Plan to the contrary, a Participant who is a member of a reservecomponent (as defined in Section 101 of Title 37 of the United States Code) who is ordered or called to activeduty for a period in excess of 179 days, or for an indefinite period, may elect to receive a cash withdrawal of all orany portion of his 401(k) Contributions Sub-Account. Any distribution made to a Participant pursuant to thisSection must be made during the period beginning on the date of his order or call to active duty and ending on theclose of his active duty period.

Any distribution made hereunder to a Participant who is ordered or called to active duty after September 11, 2001shall not be subject to the 10% excise tax imposed under Code Section 72(t).

Hardship Withdrawals

If you incur an immediate and heavy financial need, you may request a Hardship Withdrawal. The only funds thatare eligible for a Hardship Withdrawal are Employee Contributions. Earnings on those contributions and anyEmployer Contributions or Rollover Contributions are not eligible for a Hardship Withdrawal. Requests must meetcertain safe harbor provisions of the Plan and IRS regulations. Only the following events qualify for a HardshipWithdrawal:

Medical expenses for participant, spouse or tax dependent.

Purchase of participant’s principal residence (a down payment or closing costs, for example, but notmortgage payments).

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Post-secondary educational expenses for participant, spouse, child or tax dependent.

Payments necessary to prevent either eviction or foreclosure of participant’s principal residence.

Burial/Funeral expenses for participant’s spouse, parent, child or tax dependent.

Repair of damage to the participant’s principal residence due to fire, storm, flood, tornado, hurricane,earthquake, or other natural disaster that would qualify for a casualty loss deduction (see IRS Publication547).

Under these safe harbor provisions, any financial needs that fall outside these circumstances, regardless of theirnature and urgency, would not qualify for a Hardship Withdrawal.

To receive a Hardship Withdrawal, you must have obtained all distributions, other than hardship distributions, andall non-taxable loans currently available under all plans maintained by the Company or any Related Company (assuch plans, distributions and loans are determined under IRS regulations).

Your Employee Contributions and Catch-Up Contributions will be suspended for the six-month period followingyour Hardship Withdrawal. In addition, any employee or elective contributions to any other plans of the Companyor a Related Company also will be suspended for six months (as such plans are determined under IRSregulations).

The amount of a hardship withdrawal may include any amounts necessary to pay any Federal, state, or localincome taxes or penalties reasonably anticipated to result from the distribution.

Federal law prohibits hardship withdrawals of investment earnings on your Employee Contributions and Catch-UpContributions earned after December 31, 1988.

Application for Hardship Withdrawals

You may request a Hardship Withdrawal from your Plan Account by filling out the Hardship Withdrawal Form,which you may obtain by contacting Merrill Lynch by calling 800-228-4015 or accessing www.benefits.ml.com orby calling Kelly's Benefits Department at 800-376-4964. Once you have completed the form you will send it toMerrill Lynch.

FORFEITURE OF NON-VESTED AMOUNTS

If you are no longer on an assignment for, and you are no longer an employee of, the Company (and any RelatedCompany) and you are not 100% vested in the value of the Employer Contributions in your Plan Account(including any investment gains or losses on them) at the time that you are no longer on an assignment for, andyou are no longer an employee of, the Company, you will forfeit the non-vested portion of your Plan Account atthe end of the five-year period that follows when you are no longer on an assignment for, and you are no longeran employee of, the Company.

Recrediting of Forfeited Amounts

If the unvested portion of your Account was forfeited before the end of the five-year period following when you areno longer on an assignment for, and you are no longer an employee of, the Company, and you return toemployment with the Company (or a Related Company) after the non-vested portion of your Plan Account hasbeen forfeited, the amount you forfeited was or will be recredited to your Plan Account if you:

Are reemployed by a Related Company within five years of the date the non-vested portion of yourAccount was forfeited or the date your vested Account was distributed to you;

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Become a Covered Employee within five years of your reemployment; and

Repay the full amount of the distribution within five years of your reemployment date.

DISTRIBUTION OF YOUR PLAN ACCOUNT

Timing of Distribution

If you are no longer on an assignment for, and you are no longer an employee of, the Company (and all RelatedCompanies), the Plan permits distribution of your Plan Account. To obtain the forms required to request adistribution under the Plan, you should contact Kelly's Benefits Department by calling 800-376-4964 or accessingBenefits OnLine at www.benefits.ml.com. Unless your Plan Account is cashed out (as discussed below),distribution of your Plan Account will not be made, unless you request otherwise, until your required beginningdate, as discussed under Required Distributions.

Suspension of Distribution

If you are reemployed by the Company (or a Related Company) before distribution of the full value of your PlanAccount has been made, distribution of your Plan Account will be suspended until you are no longer on anassignment for, and you are no longer an employee of, the Company.

Distribution to Your Beneficiary

If you die before distribution of your Plan Account has begun, distribution of your Plan Account will be made toyour Beneficiary as soon as reasonably practicable following the date your Beneficiary applies for distribution withthe Administrator. Distribution to your Beneficiary must be made no later than the end of the fifth calendar yearbeginning after your death, unless your Beneficiary is your spouse, in which case distribution can be deferred towhen you would have attained age 70½.

If you die after you have begun to receive distributions but before you have received the full value of your PlanAccount, distribution of the remaining portion of your Plan Account will be made to your Beneficiary as soon asreasonably practicable following the date of your death.

Cash Outs of Plan Accounts and Consent to Distribution

If the vested portion of your Plan Account (including your Rollover Contributions) is more than $1,000, distributionwill not be made without your consent, except as provided under Required Distributions.

If the vested portion of your Plan Account (including your Rollover Contributions) is $1,000 or less, and you do notelect a rollover within 90 days of when you are no longer on an assignment for, and you are no longer anemployee of, the Company, you will automatically receive the distribution in cash (net of mandatory 20% federalincome tax withholding). If you are under the age of 59½ you may also be subject to a 10% penalty.

Direct Rollover Requirements

If you receive a single-sum payment, the Internal Revenue Code requires the Trustee to withhold 20% ofdistributions over $200 for federal taxes. Federal tax withholding is not required if the Trustee makes thedistribution of your Plan Account directly to an eligible retirement plan or to an IRA. When you elect to receive asingle-sum payment from the Plan, you may designate the name of a new plan or IRA institution if you would liketo make a "direct rollover" to such plan or IRA and avoid the mandatory 20% withholding.

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Required Distributions

The Internal Revenue Code requires that in certain cases distribution of your Plan Account begin no later than theApril 1 following the close of the calendar year in which you reach age 70½. If you remain employed beyond age70½, your distribution will be deferred until the date when you are no longer on an employee of the Company.Required distributions must begin at this time in the case of any person who is a 5-percent owner of the Companyin the calendar year in which such person attains age 70½. With respect to other Participants, distributionsfollowing age 70½ are optional while active employment continues, but minimum required distributions must beginafter retirement.

FORM OF PAYMENT

If you elect distribution of your Plan Account, distribution will be made to you in a single lump sum cash payment(i.e., the normal form of payment under the Plan). If you do not elect distribution of your Plan Account anddistributions begin under Required Distributions, the amount of each distribution will be the minimum amountrequired under Required Distributions.

YOUR BENEFICIARY UNDER THE PLAN

Your designated Beneficiary will receive a distribution of your Plan Account if you die. You may designate morethan one Beneficiary. To make this designation please visit Benefits OnLine at www.benefits.ml.com. Unlessyou marry (or remarry), your Beneficiary will not change until you designate a new Beneficiary.

Beneficiary if You Are Married

If you are married, your Beneficiary under the Plan will be your spouse, unless you designate a non-spouseBeneficiary with your spouse's written notarized consent.

Beneficiary When There is No Designated Beneficiary

If you die without designating a Beneficiary, or if no Beneficiary survives you, your Beneficiary will be yoursurviving spouse or, if you have no surviving spouse, your surviving children and issue of deceased children, perstirpes, in equal shares, or, if none, your parents or, if none, your estate.

If a Beneficiary dies after becoming entitled to receive a distribution under the Plan but before distribution is madeto the Beneficiary in full, and if the Participant has not designated another Beneficiary to receive the balance ofthe distribution in that event, the estate of the deceased Beneficiary shall be the Beneficiary as to the balance ofthe distribution.

Spousal Consent to Beneficiary Designation

If you designate a Beneficiary other than your spouse, your spouse must sign the Beneficiary Form authorizingthe Beneficiary and your spouse’s written consent must be witnessed by a notary public. Beneficiary forms areavailable by contacting Kelly's Benefits Department at 800-376-4964 or online at www.benefits.ml.com.

Your spouse’s written consent also must acknowledge the effect of your action taken to designate a non-spouseBeneficiary and must either (i) specify any non-spouse Beneficiary designated by you, which may not be changedwithout the spouse's written consent or (ii) acknowledge that the spouse has the right to limit consent to a specificBeneficiary, but permit you to change the designated Beneficiary without the spouse's further consent. Thespousal consent is valid only to the spouse who signs the consent.

Your spouse's written consent will not be required if your spouse cannot be located, you have a court orderstating that you are legally separated from your spouse or you have a court order stating that your spouse hasabandoned you.

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Direct Rollovers for Beneficiaries

Beneficiaries may elect to rollover distributions directly to an eligible IRA.

CLAIMS FOR BENEFITS

You should contact Kelly's Benefits Department by calling 800-376-4964 or accessing www.benefits.ml.com toobtain the documents required to request a distribution or in-service withdrawal under the Plan.

If your application for a distribution or in-service withdrawal of benefits under the Plan is denied in whole or in part,you, your Beneficiary or your authorized representative will receive a written notice of the denial including:

The specific reasons for the denial;

Specific Plan provisions on which the denial is based;

Any additional information needed to substantiate your claim and an explanation of why this information isrequired;

An explanation of the Plan's appeal procedures; and

A statement of your right to initiate a lawsuit under ERISA Section 502(a).

In most cases, you will receive the notice of denial within 90 days after you apply for benefits. If special circum-stances require more time, you will be informed promptly in writing of the reason for the delay and the date youcan expect the notice. However, in no case will you receive the denial notice later than 180 days after your claimis filed.

If you disagree with a decision made by the Administrator regarding a claim under the Plan, you have the right toask the Administrator for a review of its decision. You, your Beneficiary or your authorized representative shouldcontact the Administrator at its business address or at its business phone number within 60 days of the date onwhich you receive notice of denial of the claim. A request for review must contain the following information:

The date you received notice of denial of your claim and the date your request for review is filed;

The specific part of the claim you want reviewed;

A statement setting forth the basis upon which you think the decision should be reversed; and

Any written material that you think is pertinent to your claim and that you want the Administrator toexamine.

Upon request, the Administrator will provide you, free of charge, with reasonable access to and copies of alldocuments, records and other information relevant to your claim.

Your application, including your written submissions, will be reviewed regardless of whether any material orinformation included in your application was submitted with your original claim. You will receive written notice ofthe final decision within 60 days, or within 120 days if special circumstances require an extension. You willreceive a written notice of an extension of time prior to the date the extension begins. The notice will include thereason for the decision and with specific reference to pertinent Plan provisions.

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AMENDMENT AND TERMINATION OF THE PLAN

Plan Amendment

The Sponsor reserves the right to amend the Plan, either prospectively or retroactively, by action of its Board ofDirectors, Benefit Plans Committee or other designated Plan representative.

Plan Termination

The Sponsor reserves the right to terminate the Plan at any time, by action of its Board of Directors or BenefitPlans Committee. If the Plan is terminated, Plan Participants will be 100% vested and all assets of the Planremaining after payment of Plan expenses belong to the Participants. Generally, Plan assets cannot revert to anEmployer. If the Plan is terminated, distribution of your Plan Account will be made as permitted under federal law.

MISCELLANEOUS INFORMATION

Plan Summary Does Not Create Employment Contract

The only purpose of this Summary is to provide you with information about the benefits available under the Plan.The benefits described are not conditions of employment. Nor is the Summary intended to create an employmentcontract between you and the Company. Nothing in this Summary should be construed as a limitation on your orthe Company's right to terminate your employment at any time, with or without cause.

No Guarantees Regarding Investment Performance

Neither the Sponsor, the Company, the Administrator nor the Trustee guarantee any particular investment gain orappreciation on your Plan Account, nor do they guarantee your Plan Account against investment losses ordepreciation.

It is intended that the Plan qualify as a participant investment directed plan under Section 404(c) of ERISA. ThePlan permits you to exercise control over the assets in your Account and choose from a range of investmentoptions. In an ERISA Section 404(c) plan, you are responsible for your investment decisions under the Plan andany resulting investment activity. Under ERISA, therefore, the Trustee, Sponsor, Company and any ParticipatingEmployer of the Plan are not responsible for any losses incurred as a result of your investment decisions. Theyare still responsible, however, for being sure that you have diverse investment opportunities and sufficientopportunity to direct the investment of your Plan Account.

Administrative Expenses Paid from Trust

The expenses of administering the Plan are paid as a general charge on the Trust, except to the extent that suchexpenses are paid by the Sponsor. The Administrator may direct that administrative expenses that areattributable to the Account of a specific Participant will be paid from that Account.

In making decisions regarding the Plan, you will want to consider the fees and expenses that will be charged toyour Plan Account as described in the Fund Fact sheet for each investment option. You may also contact MerrillLynch by calling 800-228-4015 or accessing www.benefits.ml.com for additional fee information. In general, feescan be classified into the following categories:

Plan Administrative Fees. General plan administration expenses (e.g., recordkeeping services) arecharged per capita to each Plan Account. The Sponsor may in its discretion elect to pay some or all of thePlan administrative expenses.

Plan Transaction Fees. Your Plan Account will be charged fees for certain individual Plan transactions, forexample, a Qualified Domestic Relations Order processing fee.

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Investment Fund Fees. Your Plan Account will be reduced by a number of expenses or fees associatedwith your investment choices, including fees charged by some or all of the following entities: the Trustee,investment advisors, investment managers, and securities brokers.

The amount and allocation of fees and expenses are subject to change at any time. For current information onfees and expenses, contact Merrill Lynch by calling 800-228-4015 or accessing www.benefits.ml.com.

Assignment of Benefits

Generally, your rights and benefits under this Plan cannot be assigned, sold, transferred or pledged by you orreached by your creditors or anyone else. There are certain limited exceptions to this rule, such as qualifieddomestic relations orders. A qualified domestic relations order ("QDRO") is a court order issued under statedomestic relations law relating to divorce, legal separation, custody or support proceedings. The QDROrecognizes the right of someone other than you to receive your Plan benefits and results in an earlier than normaldistribution to the person(s) other than the Participant listed in the order. You will be notified if a QDRO relating toyour Plan benefits is received. The Administrator has procedures for determining if a domestic relations order isqualified, and you may request a description of such procedures free of charge.

The Plan will also honor offsets ordered or required under a criminal conviction involving the Plan, a civil judgmentin connection with a violation or alleged violation of fiduciary responsibilities under ERISA or a settlementagreement between the Participant and the Department of Labor in connection with a violation or alleged violationof fiduciary responsibilities under ERISA, as well as federal tax levies and judgments.

Loss of Benefits

There are several events which can cause the loss of all or a portion of your Account. If you were no longer on anassignment for, and you were no longer an employee of, the Company before you were 100% vested in yourEmployer Contributions, you forfeited or lost the unvested portion of your Account balance.

The value of your Account will increase or decrease due to market changes that impact your investment choices.If you receive a distribution at a time when the value of your investments has declined, you may not receive adistribution as large as you anticipated.

If your Plan benefits become payable after you are no longer on an assignment for, and you are no longer anemployee of, the Company and the Administrator is unable to locate you at your last address of record, you mayin some limited circumstances forfeit your benefits under the Plan after a reasonable period of time. Therefore, itis very important that you keep the Administrator apprised of your mailing address even after you are no longer onan assignment for, and you are no longer an employee of, the Company.

Your Account may also decrease due to any administrative expenses or other costs of maintaining the Plan thathave been charged to your Account.

If your Account is subject to a QDRO or any of the other orders or offsets described in Assignment of Benefits,the portion of your Account that you are entitled to receive may be reduced to satisfy the order or offset.

Return of Contributions to Your Employer

If the Company makes a contribution to the Plan on your behalf by mistake, or if the Company cannot deduct acontribution made to the Plan on its tax return, that contribution will be returned to the Company as required byfederal law.

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Tax Considerations

The discussion of federal income tax consequences that follows is included for general information only andreflects the provisions of the Internal Revenue Code as in effect January 1, 2010. The discussion does notdescribe all relevant tax matters (such as state and local income and inheritance taxes and federal estate and gifttaxes) that should be considered in connection with participation in the Plan and does not completely describe allprovisions associated with the tax matters discussed. Accordingly, you are advised to consult a personal taxadviser for tax planning relevant to the Plan and are further advised not to rely exclusively on the followingdiscussion.

Contributions

Employee Contributions, Catch-Up Contributions, Employer Matching Contributions, Government ContractContributions and Rollover Contributions made to the Plan, and any earnings or appreciation thereon, are notsubject to federal income taxation until they are paid by the Plan to you. Employee Contributions and Catch-UpContributions are, however, subject to Social Security withholding. In addition, some states, cities and countiesmay impose taxes on Employee Contributions and Catch-Up Contributions.

The Company will make Employer Contributions within the period of time required under the Code for thecontributions to be deductible to the Company for the Plan Year of the contributions.

Distributions

Distributions from all Accounts generally will be subject to federal income taxation in the year they are paid to youor your Beneficiary.

Income Tax Withholding

Most Plan distributions are subject to mandatory federal income tax withholding. The Plan's Trustee is required towithhold 20% of any "eligible rollover distribution" paid to you. However, you may elect to have the Trustee makea direct rollover or transfer of your distribution and avoid mandatory withholding. If you receive a Plan distributionbefore you reach age 59½ and you do not make a direct rollover, then in addition to the mandatory 20% incometax, you may have to pay an additional 10% penalty tax on the taxable portion of the distribution. An eligiblerollover distribution that is not rolled over will be taxed in the year you receive it. If your distribution is a lump sumdistribution, it may qualify for a special tax treatment. If you have questions about the taxation of a Plandistribution, you should contact the Administrator for a detailed notice that explains which taxes may apply to you.You should consult with your tax advisor before requesting a Plan distribution.

Company Taxation

The Employer will be allowed a tax deduction on certain contributions made to the Plan to the extent that thecontributions are within the appropriate limits and satisfy the requirements of the Internal Revenue Code.

Electronic Transmission

This Summary Plan Description may be delivered to you electronically. In this case, you have the right to receivea paper copy of this Summary. Any paper copy will have the same format as the electronic version.

MORE THINGS YOU SHOULD KNOW

The Company makes contributions to the Plan solely for your benefit. All the assets of the Plan are held for theexclusive benefit of Participants and their Beneficiaries. The Plan is a defined contribution profit-sharing plan witha 401(k) arrangement, administered through a trust fund.

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The Plan provides for the distribution of your Account after you are no longer on an assignment for, and you areno longer an employee of, the Company. Under certain circumstances, if the Company is sold and if you continueworking for the new successor employer, you may not be eligible for distribution of your Plan Account until youare no longer on an assignment for, and you are no longer an employee of, the new successor employer or anycompanies related to it.

Since the Plan assets are held in individual Accounts and are never less than the total benefits payable toParticipants, no insurance of benefits by the Pension Benefit Guaranty Corporation under Title IV of ERISA isnecessary or available. The Plan is subject, however, to the applicable provisions of Title I of ERISA (protectionof employee benefit rights) and Title II of ERISA (amendments to the Internal Revenue Code relating to retirementplans).

YOUR RIGHTS UNDER THE PLAN

The Plan is covered by ERISA which was designed to protect employees' rights under benefit plans. As aParticipant of the Plan, you should know as much as possible about your Plan benefits. ERISA provides that PlanParticipants are entitled to:

Examine, without charge, at the Administrator's office and at other specified locations (such as worksites)all documents governing the Plan, including a copy of the latest annual report (Form 5500 Series) filed bythe Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the EmployeeBenefits Security Administration (formerly known as the Pension and Welfare Benefit Administration).

Obtain, upon written request to the Administrator, copies of documents governing the operation of the Planincluding copies of the latest annual report (Form 5500 Series) and updated summary plan description.The Administrator may make a reasonable charge for the copies.

Receive a summary of the Plan's annual financial report. The Administrator is required by law to furnisheach Participant with a copy of this summary annual report.

Obtain a statement telling you whether you have a right to receive a retirement plan benefit at normalretirement age (age 65) and, if so, what your benefits would be at normal retirement age if you stopworking under the Plan now (i.e., the fair market value of your vested accrued benefit). If you do not havea right to a retirement plan benefit, the statement will tell you how many years you have to work to get aright to a retirement plan benefit. This statement must be requested in writing and is not required to beprovided more than once every twelve (12) months. The Plan must provide the statement free of charge.

In addition to creating rights for Plan Participants, ERISA imposes duties upon the people who are responsible forthe operation of the Plan. Such people are called "fiduciaries" and have a duty to act prudently and in the bestinterest of Participants and their Beneficiaries. No one, including your employer or any other person, may fire youor otherwise discriminate against you in any way to prevent you from obtaining a retirement plan benefit orexercising your rights under ERISA.

If your claim for a retirement plan benefit is denied or ignored, in whole or in part, you have a right to know whythis was done, to obtain copies of documents relating to the decision without charge and to appeal any denial, allwithin the time schedules described herein.

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There are steps you can take to enforce your rights under ERISA. For instance, if you request a copy of Plandocuments or the latest annual report from the Plan and do not receive them within 30 days, you may file suit infederal court. In such a case, the court may require the Administrator to provide the materials and pay you up to$110 a day until you receive the materials unless the materials were not sent because of reasons beyond theAdministrator's control. If you have a claim for benefits which is denied or ignored, in whole or in part, you mayfile suit in a state or federal court. In addition, if you disagree with the Plan's decision or lack thereof concerningthe qualified status of a domestic relations order you may file suit in federal court. If it should happen that planfiduciaries misuse the Plan's money or if you are discriminated against for asserting your rights, you may seekassistance from the U.S. Department of Labor, or you may file suit in a federal court. The court will decide whoshould pay court costs and legal fees. If you are successful, the court may order the person you have sued topay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it findsyour claim is frivolous.

If you have any questions about your Plan, you should contact the Administrator at the address indicated at theend of this Summary.

If you have any questions about this statement or your rights under ERISA or if you need assistance in obtainingdocuments from the Administrator, you may contact the nearest office of the Employee Benefits SecurityAdministration (formerly known as the Pension and Welfare Benefits Administration), U.S. Department of Labor,listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee BenefitsSecurity Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. Youmay also obtain certain publications about your rights and responsibilities under ERISA by calling the publicationshotline of the Employee Benefits Security Administration.

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ADDITIONAL INFORMATION

The Administrator is:

Benefit Plans Committeec/o Benefits DepartmentKelly Services, Inc.999 W. Big Beaver RoadTroy, Michigan 48084800-376-4964

Legal process may be served on:

Office of the General CounselKelly Services, Inc.999 W. Big Beaver RoadTroy, Michigan 48084

Legal process may also be served on the Administrator or the Trustee.

The Sponsor is:

Kelly Services, Inc.999 W. Big Beaver RoadTroy, Michigan 48084(248) 244-7570

The Sponsor's Employer identification number for purposes of helping to identify the Plan is: 38-1510762.

The Plan number for purposes of helping to identify the Plan is: 004.

The Trustee is:

Bank of America, N.A.1300 Merrill Lynch DriveMail Code NJ2-130-03-27Pennington, NJ 08534800-228-4015

The Recordkeeper is:

Merrill Lynch, Pierce, Fenner & Smith Incorporated1400 Merrill Lynch DriveM/S NJ2-140-03-04Pennington, NJ 08534800-228-4015www.benefits.ml.com

The Participating Employers of the Plan include:

Kelly Services, Inc.Kelly Services USA, LLC (effective July 1, 2015)Kelly Services Global, LLC (effective July 1, 2015)

The current list of Participating Employers of the Plan as in effect at any time is available from the Administrator.

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DEFINITIONS

Your “Account” or “Plan Account” is your account and sub-accounts of your contributions under the Plan.

The "Administrator" has discretionary control and authority over the administration of the Plan. TheAdministrator is the Benefit Plans Committee of Kelly Services, Inc.

Your "Assigned Customer" means the customer of your Employer for which you are working on an assignmentby the Company.

Your "Beneficiary" means the person (or persons) entitled to receive distribution of your Plan Account if you diebefore your Plan Account has been fully distributed to you.

A "Catch-Up Contribution" means a contribution you make to the Plan on a pre-tax basis if you are 50 or olderas of the end of the calendar year.

The "Company" is Kelly Services, Inc. In certain instances under the Plan, the Company also includes aParticipating Employer of the Plan or any other Related Company generally.

Your "Compensation" means all amounts included in the following categories, provided such amounts constitutewages for Form W-2 purposes:

Non-variable pay Variable pay billable to customer Certain post-employment pay Customer-specific paid time off and billable to customer Required non-productive work time

However, Compensation does not include any amounts included in the following categories:

Relocation and international assignment payments Severance pay and similar post-termination payments Variable pay not billable to customer Paid time off not billable to customer Business expenses, fringe benefits, tuition reimbursement, gift cards, gift certificates Disability pay Imputed income and benefit plan payments Wage determination (H&W fringe benefit) Legal settlements Non Qualified Deferred compensation payments

Please contact the Plan Administrator with any questions regarding the specific items of compensation within theforegoing included and excluded categories of Compensation. Please note that your paid time off includesmilitary paid leave, which includes any differential wage payments made by the Company to you while on activeduty in the uniformed services of the United States.

Compensation also includes all contributions from your pay which are Employee Contributions and Catch-UpContributions under the Plan or contributions under a Code Section 125 cafeteria plan or qualified transportationfringe benefit plan of the Company or a Related Company.

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If your employment terminates, Compensation does not include amounts received after your termination, exceptamounts paid within 2½ months after your termination if such amounts (i) would otherwise have been paid to youin the course of your employment and are regular compensation, compensation outside your regular workinghours (such as overtime or shift differential pay), commissions, bonuses or similar compensation or (ii) arepayments for accrued sick, vacation or other leave, but only if you would have been able to use such leave if youremployment had continued. These amounts will be included in Compensation only to the extent that they wouldhave otherwise been within the included compensation categories above.

Your Compensation is subject to an IRS annual maximum limit which is periodically updated by the IRS for cost ofliving increases.

You are a "Covered Employee" if you are employed by the Company or a Participating Employer of the Plan in aposition that is covered by the Plan, as described in Eligibility under ELIGIBILITY & PARTICIPATION.

You are "Disabled" if you can no longer continue in the service of your employer because of a mental or physicalcondition that is likely to result in death or is expected to be of long-continued or indefinite duration. You will beDisabled only if you are determined to be so disabled by the Administrator based on a written certification of aphysician acceptable to the Administrator. This definition does not include a short term or partial disability.

An "Employee Contribution" means a contribution that you elect to make to the Plan on a pre-tax basis.

"Employer Contributions" include your Employer Matching Contributions, Employer Discretionary Contributionsor Government Contract Contributions under the Plan.

An "Employer Matching Contribution" means any contribution made by the Employer on account of yourEmployee Contributions.

An "Employer Discretionary Contribution" is a contribution made to the Plan on your behalf by your Employer.

A "Government Contract Contribution" is a contribution made to the Plan on your behalf by your Employer foryour work on a government contract.

A "Highly Compensated Employee" means an employee who is highly compensated in accordance withspecific IRS rules. Generally, you will be a Highly Compensated Employee under the IRS rules if your totalcompensation is greater than an amount specified by the IRS in the previous year (i.e., $115,000 in 2014, asapplicable to determine if you a Highly Compensated Employee for 2015; and $120,000 in 2015, as applicable for2016). If you believe you may be a Highly Compensated Employee, please consult with the Administrator.

An "Investment Fund" is a separate fund in which your Plan Account or part of your Plan Account may beinvested.

Your "Normal Retirement Date" means the later of the date you reach age 65 or the third anniversary of thedate you began to participate in the Plan.

A "Participant" means a Covered Employee who has satisfied the requirements to participate in the Plan. SeeELIGIBILITY & PARTICIPATION.

A “Participating Employer” of the Plan means the Company and any subsidiary of the Company which isapproved for participation in the Plan, including, for example, Kelly Services Global, LLC and Kelly Services USA,LLC.

A "Plan Year" means the 12-consecutive-month period ending each December 31.

The "Recordkeeper" is responsible for the day-to-day administration of the Plan. The Recordkeeper has noauthority over the administration of the Plan. The Recordkeeper is Merrill Lynch.

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A "Related Company" means any company or business that is considered to be related to the Company underInternal Revenue Service rules, including each Participating Employer of the Plan.

A "Rollover Contribution" means any qualified cash contribution that you elect to roll over to the Plan from aneligible retirement plan (but not from an IRA).

The "Sponsor" of the Plan is Kelly Services, Inc.

Your "Spouse" or “spouse” means the person to whom you are legally married under the laws of the state orcountry in which the marriage originated, even if such marriage is not recognized under the laws of the state orcountry in which you reside.

The "Trustee" holds the Plan assets in trust for the benefit of Participants and may be a bank, an insurancecompany or a group of individuals chosen by the Sponsor. The Trustee is Bank of America, N.A.

A "Valuation Date" means each business day of the Plan Year.

To be "Vested" in your contributions and any associated earnings held in your Plan Account for the contributionmeans that you have a non-forfeitable right to such amounts and, therefore, such amounts cannot be forfeited ortaken from your Plan Account. Of course, the value of any of your Plan Accounts may go down as a result ofinvestment depreciation and losses and administrative expenses of the Plan.