Annual report pursuant to Section 13 and 15(d)

Employee Benefit Plan

v3.8.0.1
Employee Benefit Plan
12 Months Ended
Dec. 31, 2017
Postemployment Benefits [Abstract]  
Employee Benefit Plan
Employee Benefit Plan
The Company sponsors a defined contribution 401(k) plan (the Plan) in which substantially all U.S. employees are eligible to participate. The Company match was suspended in May 2016 and resumed in May 2017. During 2017 the Company matched 25 percent of each participant’s pre-tax contributions in an amount not exceeding 6 percent of the participant’s compensation, up to the maximum amount of contributions allowed by law. The costs of matching contributions to the Plan were $0.7 million, $1.1 million and $4.0 million in 2017, 2016 and 2015, respectively. Plan participants hired prior to July 2017 become 100 percent vested immediately in the Company’s matching contributions, and plan participants hired after July 2017 become vested on a pro-rata basis over three years.