Defined Benefit Plans

3 Months Ended

Mar. 31, 2019

Benefit Plans

Korea Defined Benefit Plan

In connection with our acquisition of Maxwell Korea, the Company assumed the defined benefit plan liability related to employees of Maxwell Korea. Pursuant to the Labor Standards Act of Korea, employees and most executive officers with one or more years of service are entitled to lump sum separation benefits upon the termination of their employment based on their length of service and rate of pay.

Components of net cost related to the Korea employee defined benefit plan are as follows (in thousands):



	Three Months Ended March 31,
	2019		2018
Service cost	$	155	$	151
Cost recognized as a component of compensation cost	155		151
Interest cost	26		29
Cost recognized in other components of defined benefit plans, net	26		29
Net cost	$	181	$	180

Employer contributions of $1,000 and $2,000 were paid during the three months ended March 31, 2019 and 2018, respectively. Additional employer contributions of approximately $4,000 are expected to be paid during the remainder of fiscal 2019.