13. Employee Benefit PlanS

The Company has a qualified 401(k) plan covering all U.S. employees who have completed three months of service. The plan provides for matching contributions by the Company equal to 100% of the first 3% of the qualified compensation, plus 50% of the next 2%. Employer contributions to the plan for the years ended December 31, 2016 and 2015 were approximately $84,000 and $88,000, respectively.

Additionally, the Company has a defined contribution retirement plan covering all employees located in Pakistan who have completed 90 days of service. The plan provides for monthly contributions by the Company which are the lower of 10% of qualified employees’ basic monthly compensation or 750 Pakistani rupees. The Company’s contributions for the years ended December 31, 2016 and 2015 were approximately $120,000 and $148,000, respectively.

The Company maintains a defined contribution retirement plan covering all employees in Sri Lanka. The employee and employer contribute 8% and 12%, respectively, of the employee’s gross salary. The Company’s contribution for the period October 3, to December 31, 2016 was approximately $14,000. The Company also maintains a defined contribution retirement plan covering all employees in India. The employee and employer each contribute 12% of the employee’s basic salary. The Company’s contribution for the period October 3 to December 31, 2016 was approximately $10,000. For both Sri Lanka and India, the contributions are required to be deposited with the Employees’ Provident Fund Organization, a government owned entity.