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Deferred Compensation Plan
12 Months Ended
Dec. 31, 2012
Deferred Compensation Plan

13.   Deferred Compensation Plan

In April 2005, Basic established a deferred compensation plan for certain employees. Participants may defer up to 50% of their salary and 100% of any cash bonuses. Basic makes matching contributions of 100% of the first 3% of the participants’ deferred pay and 50% of the next 2% of the participants’ deferred pay to a maximum match of $10,000 per year. Employer matching contributions and earnings thereon are subject to a five-year vesting schedule with full vesting occurring after five years of service. Employer contributions to the deferred compensation plan net of earnings approximated an expense of $687,000 in 2012, an expense of $128,000 in 2011 and an expense of $337,000 in 2010, respectively.