Savings Plan – The Company sponsors a defined contribution 401(k) plan, which covers substantially all of its U.S. based employees. The plan provides for the deferral of employee compensation under Section 401(k) and a discretionary Company match. In 2011, 2010, and 2009, this match was $0.35 per dollar of participant deferral, up to 6% of the total compensation for each participant. Net costs related to this defined contribution plan were $1.6 million in 2011 and $1.5 million in 2010, and 2009.

In addition to the above, under the terms of the 401(k) plan document there is an annual discretionary defined contribution of up to five percent of each employee's eligible compensation. This amount is contributed to the 401(k) plan in the form of Company stock. Compensation cost recognized related to the defined contribution was $5.1 million in 2011. No discretionary contribution was made for fiscal years 2010, or 2009 as the Company did not achieve the applicable performance targets for those years. As of December 30, 2011, the 401(k) Plan held 543,320 shares of Company stock.

Education Assistance Program – The Company reimburses tuition, textbooks and laboratory fees for college or other job related programs for all of its U.S. based employees. The Company also reimburses college tuition for the dependent children of certain full-time U.S. based employees, which vests on a straight-line basis over ten years, up to the applicable local state university tuition rate. For certain employees and executives, the dependent children benefit is not limited. Minimum academic achievement is required in order to receive reimbursement under both programs. Aggregate expenses under the programs were $1.5 million, $1.3 million and $1.5 million in 2011, 2010 and 2009, respectively. The dependent tuition reimbursement program was frozen on December 14, 2011 and is now limited to those U.S. employees who were employed by the Company as of that date.

Defined Benefit Plans – The Company is required to provide its employees located in Switzerland, Mexico, and France certain statutorily mandated defined benefits. Under these plans, benefits accrue to employees based upon years of service, position, age and compensation. The defined benefit pension plan provided to the Company's employees located in Switzerland is a funded contributory plan while the defined benefit plans provided to the Company's employees located in Mexico and France are unfunded and noncontributory. The Company expects 2012 contributions to these defined benefit plans to be similar to those made in 2011 and 2010.

Information relating to the funding position of the Company's defined benefit plans as of the plans measurement date of December 30, 2011 and December 31, 2010 were as follows (in thousands):

		Year Ended
		December 30,		December 31,
		2011		2010
Change in projected benefit obligation:
Projected benefit obligation at beginning of year		$	15,961	$	14,294
Service cost			1,127		724
Interest cost			483		383
Prior service cost			125		143
Plan participants' contribution			999		863
Actuarial loss			393		257
Benefits paid			(1,396)		(590)
Settlements/curtailments			0		(1,524)
Plan amendment			(582)		0
Foreign currency translation			(57)		1,411
Projected benefit obligation at end of year			17,053		15,961

Change in fair value of plan assets:
Fair value of plan assets at beginning of year			11,314		10,320
Employer contributions			1,041		913
Plan participants' contributions			999		863
Actual loss on plan assets			(443)		(278)
Benefits paid			(1,380)		(559)
Settlements			0		(1,050)
Foreign currency translation			(47)		1,105
Fair value of plan assets at end of year			11,484		11,314
Projected benefit obligation in excess of plan
	assets at end of year	$	5,569	$	4,647
Pension liability classified as other current liabilities		$	21	$	6
Pension liability classified as long-term liabilities		$	5,548	$	4,641
Accumulated benefit obligation at end of year		$	14,962	$	14,218

Amounts recognized in Accumulated Other Comprehensive Income are as follows (in thousands):

	Year Ended
		December 30,		December 31,
		2011		2010
Net loss occurring during the year	$	1,306	$	916
Amortization of losses		(59)		(586)
Prior service cost		(459)		143
Amortization of prior service cost		(137)		(4)
Foreign currency translation		(5)		90
Pre-tax adjustment		646		559
Taxes		(80)		42
Net loss	$	566	$	601

The amortization of amounts in Accumulated Other Comprehensive Income expected to be recognized as components of net periodic benefit expense during 2012 are as follows (in thousands):

Net pension cost is comprised of the following (in thousands):

	Year Ended
		December 30,		December 31,
		2011		2010
Service cost	$	1,127	$	724
Interest cost		483		383
Expected return on assets		(470)		(381)
Settlements		0		87
Recognized net actuarial loss		200		30
Net pension cost	$	1,340	$	843

The weighted-average rates used in the actuarial valuations were as follows:

	Projected Benefit Obligation		Net Pension Cost
	December 30,	December 31,
	2011	2010	2011	2010	2009
Discount rate	2.5%	2.9%	2.9%	3.0%	3.0%
Salary growth	2.3%	2.5%	2.5%	2.5%	2.5%
Expected rate of return on assets	3.5%	3.8%	3.8%	4.0%	4.0%
Long-term inflation rate	1.3%	1.5%	1.5%	1.5%	1.5%

The discount rate used is based on the yields of Switzerland AA bonds with a duration matching the duration of the liabilities plus approximately 50 basis points to reflect the risk of investing in corporate bonds. The expected rate of return on plan assets reflects long-term earnings expectations on existing plan assets and those contributions expected to be received during the current plan year. In estimating that rate, appropriate consideration was given to historical returns earned by plan assets in the fund and the rates of return expected to be available for reinvestment. Rates of return were adjusted to reflect current capital market assumptions and changes in investment allocations. Equity securities and fixed income securities were assumed to earn a return in the range of 6% to 8% and 2.25%, respectively. When these overall return expectations are applied to the pension plan's target allocation, the expected rate of return is determined to be 3.5%.

Plan assets were comprised of the following (in thousands):
				Fair Value Measurements Using
		December 30,			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
		2011			(Level 1)		(Level 2)		(Level 3)
Cash		$	179	$	179	$	-	$	-
Equity securities:
	U.S. companies		1,019		1,019		-		-
	International companies		2,155		2,155		-		-
	Emerging markets		415		415		-		-
Fixed income:
	Government & government agencies		4,057		4,057		-		-
	Corporate		1,860		1,860		-		-
Real-estate			1,064		-		1,064		-
Other			735		735		-		-
	Total	$	11,484	$	10,420	$	1,064	$	-

				Fair Value Measurements Using
		December 31,			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
		2010			(Level 1)		(Level 2)		(Level 3)
Cash		$	84	$	84	$	-	$	-
Equity securities:
	U.S. companies		969		969		-		-
	International companies		2,310		2,310		-		-
	Emerging markets		464		464		-		-
Fixed income:
	Government & government agencies		4,336		4,336		-		-
	Corporate		1,034		1,034		-		-
Real-estate			1,081		-		1,081		-
Other			1,036		1,036		-		-
	Total	$	11,314	$	10,233	$	1,081	$	-

The fair value of Level 1 plan assets are obtained by reference to the last quoted price of the identical security on the market which it trades. The fair value of Level 2 plan assets are obtained from quoted market prices in inactive markets or valuation models with observable market data inputs to estimate fair value. These observable market data inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers and reference data.

The weighted average target and actual pension fund asset allocation as of the valuation date was as follows:
				2011
	Asset Category:		Target	Actual
		Fixed income	54.0%	52.0%
		Equity	31.0%	31.0%
		Real-estate	10.0%	9.0%
		Cash	0.0%	2.0%
		Other	5.0%	6.0%
			100.0%	100.0%

The target allocation is consistent with the Company's goal of diversifying plan assets in order to preserve capital while achieving investment results that will contribute to the proper funding of benefit obligations and cash flow requirements.