Annual report pursuant to Section 13 and 15(d)

Benefit Plans

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Benefit Plans
12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Benefit Plans

Note 10 – Benefit Plans

 

Defined Contribution Plan

 

The Company has a defined contribution plan covering all full-time employees qualified under Section 401(k) of the Internal Revenue Code, in which the Company matches a portion of an employee’s salary deferral. The Company’s contributions to this plan were $50 and $35, for the years ended December 31, 2017 and 2016, respectively.

 

The Predecessor has a defined contribution plan covering all full-time employees qualified under Section 401(k) of the Internal Revenue Code, in which the Predecessor matches a portion of an employee’s salary deferral. The Company’s contributions to this plan were $721 and $564, for the years ended December 31, 2017 and 2016, respectively. The Predecessor instituted a cash balance for its employees in 2016, the cash balance plan expense totaled $808 and $744 for the years ended December 31, 2017 and 2016.

 

The Company and the Predecessor have not combined their defined contributions plans as of December 31, 2017.