EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2015

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

NOTE G—EMPLOYEE BENEFIT PLANS

        The Company has a retirement plan covering substantially all qualified employees under section 401(k) of the Internal Revenue Code. The Company's 401(k) was a safe harbor matching plan where the Company contributed up to 100% of the participants' 401(k) contributions, up to a maximum of 3% of the participants' compensation plus 50% of the next 2% of the active participants' compensation. The Company's safe harbor match vested immediately. The Company may also make discretionary contributions. The Company discontinued any matching policy on May 15, 2015. The Company's expenses under the plan were approximately $144 thousand and $314 thousand for the years ended December 31, 2015, and 2014, respectively.