EMPLOYEE BENEFIT PLAN

6 Months Ended

Jun. 30, 2021

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN

9. EMPLOYEE BENEFIT PLAN

In November 2006, the Company adopted a 401(k) plan (the “Plan”) covering all employees. Employees must be 21 years of age in order to participate in the Plan. Under the Plan, the Company has the option to make matching contributions. During the three months ended June 30, 2021 and 2020, the Company contributed $20 thousand and $16 thousand, respectively, in cash as a matching contribution to employee 401(k) accounts which is included in the accrued expenses balances on the balance sheet. During the six months ended June 30, 2021 and 2020, the Company contributed $41 thousand and $35 thousand, respectively, in cash as a matching contribution to employee 401(k) accounts which is included in the accrued expenses balances on the balance sheet.