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EMPLOYEE BENEFIT PLAN
 12 Months Ended
Dec. 31, 2020
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT PLAN

NOTE 10 – EMPLOYEE BENEFIT PLAN

 

The Company maintains a voluntary defined contribution 401(k) plan covering all eligible employees as defined in the plan documents. The plan provides for discretionary matching contribution, which is equal to up to four percent of each eligible contributing participant’s elective deferral not to exceed $2,000 per year. Employees who elect to participate in the plan are generally fully vested in any existing matching contribution after five years of service with the Company. Contributions by the Company under the plan amounted to approximately $487,000 and $403,000 for the years ended December 31, 2020 and 2019, respectively.