Osio Labs provides an allowance of $200 each month for full-time employees and $100 each month for part-time employees for technology and office purchases, made available to you through pre-paid PEX cards. You can go to http://www.pexcard.com to read more about how the cards work, but here are the basics:
- PEX Cards are pre-paid VISA cards, and should be accepted anywhere in the world that a VISA logo is shown. (Note: it uses a U.S. address and so may not work in all locations outside the U.S.)
- Your balance rolls over from month to month, so you can save up your stipend over time for larger purchases.
- If you're leaving Osio Labs, your remaining PEX balance will be included in your final paycheck. Please note: it will be taxed as income, so it is advantageous to use this balance if you wish to avoid paying taxes on it.
- In order for us to pass the tax savings on to you, all physical asset purchases made on the PEX card, such as computers or phones, are technically the property of Osio Labs. Otherwise, PEX funds would be considered a taxable wage. If you should leave the company, the purchases you made with your PEX card will be "sold back" to you for $1.
Here are common examples that you can use the stipend to purchase. If you aren't sure if something you want is elligible for the stipend, just ask the CEO.
- Cell phone bill
- New cell phone
- Skype credit
- New apps and new software
- Computers
- Internet service
- Printers, paper, ink
- Routers
- Backup drives
- Office desk and/or chair
- Fitness tracker or smartwatch
All Osio Labs requires in return for the monthly tech stipend is that you have insurance on your laptop (typically covered by homeowner's or renter's policies -- you can ask your insurance representative for the details). You can also purchase coverage through companies like Safeware (http://safeware.com). Please send the policy title page to the CEO to file.