Annual report pursuant to Section 13 and 15(d)

RETIREMENT PLAN

v2.4.0.6
RETIREMENT PLAN
12 Months Ended
Dec. 31, 2012
RETIREMENT PLAN

12. RETIREMENT PLAN

The Company has a defined contribution plan (the “Retirement Plan”) for all employees that are qualified under Section 401(k) of the Internal Revenue Code. Gulf Island Resources employees are not eligible for the Retirement Plan. Contributions to the Retirement Plan by the Company are based on the participants’ contributions, with an additional year-end discretionary contribution determined by the Board of Directors. For the years ended December 31, 2012, 2011, and 2010, the Company contributed a total of $2.6 million, $1.9 million, and $2.1 million, respectively.