RETIREMENT SAVINGS PLAN

12 Months Ended

Dec. 31, 2016

RETIREMENT SAVINGS PLAN

RETIREMENT SAVINGS PLAN

NOTE 8-RETIREMENT SAVINGS PLAN

We have a qualified retirement plan under the provisions of Section 401(k) of the Internal Revenue Code covering all U.S. employees.  Participants in this plan may contribute between 1% and 60% of their eligible pay on a pretax basis, up to the annual Internal Revenue Service dollar limits.  The Company will make matching contributions in an amount equal to 50% of the participant’s deferral contributions, not to exceed $500.  All contributions, including the Company match, are vested immediately. Our matching contributions to the plan were $5 thousand and $4 thousand in 2016 and 2015, respectively.