The Company has a defined-contribution plan under Section 401(k) of the Internal Revenue Code (“401(k) Plan”). The 401(k) Plan covers all employees who meet defined minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax basis. As currently established, the Company is not required to make any contributions to the 401(k) Plan. For the years ended December 31, 2021 and 2020, the Company made a discretionary match that matches 50% of employee contributions up to a maximum of 3% of employees’ salary. Matching contributions are fully vested at the time of contribution.

Matching contribution expense included in the Company’s consolidated statements of operations and comprehensive loss was as follows (in thousands):

Year Ended

December 31,

2021

2020

Match Cost

0.2

0.1