EMPLOYEE BENEFITS

9 Months Ended

Sep. 30, 2013

EMPLOYEE BENEFITS [Abstract]

EMPLOYEE BENEFITS

7. EMPLOYEE BENEFITS

The Company has established a 401(k) retirement plan, which is a tax-qualified self-funded retirement plan covering substantially all of the Company’s U.S. employees. Under this plan, employees may elect to defer their current compensation by up to the statutory limit. Effective January 1, 2013, the Company provides discretionary matching contributions to the plan up to a maximum of 2.0% of the employee’s eligible compensation. Employer contributions charged to expense for the three and nine months ended September 30, 2013 were $112 and $286, respectively. The Company does not maintain any defined benefit pension plans or any nonqualified deferred compensation plans.