Note 12 - Employee Benefit Plans

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Retirement Benefits [Text Block]

( 12 )   EMPLOYEE BENEFIT PLANS

We have defined contribution

401

(k) plans for our employees who work in the U.S. All permanent employees of inTEST Corporation, EMS LLC, Temptronic and Silicon Valley who are at least

18

years of age are eligible to participate in the inTEST Corporation Incentive Savings Plan. We match employee contributions dollar for dollar up to

10%

of the employee's annual compensation, with a maximum limit of

$5.

Employer contributions vest ratably over

four

years. Matching contributions are discretionary. For the

three

months and

nine

months ended

September 30, 2020

we recorded

$56

and

$313

of expense for matching contributions, respectively. For the

three

months and

nine

months ended

September 30, 2019

we recorded

$53

and

$335

of expense for matching contributions, respectively.

All permanent employees of Ambrell are immediately eligible to participate in the Ambrell Corporation Savings & Profit Sharing Plan (the "Ambrell Plan") upon employment and are eligible for employer matching contributions after completing

one

year of service, as defined in the Ambrell Plan. The Ambrell Plan allows eligible employees to make voluntary contributions up to

100%

of compensation, up to the federal government contribution limits. We will make a matching contribution of

25%

of each employee's contributions up to a maximum of

2%

of such employee's annual compensation. For the

three

months and

nine

months ended

September 30, 2020

we recorded

$17

and

$49

of expense for matching contributions, respectively. For the

three

months and

nine

months ended

September 30, 2019

we recorded

$11

and

$48

of expense for matching contributions, respectively.