Employee Benefit Plan
|9 Months Ended|
Sep. 30, 2020
|Compensation And Retirement Disclosure [Abstract]|
|Employee Benefit Plan||
NOTE 14 – EMPLOYEE BENEFIT PLAN
In 2013, the Company established the U.S. Well Services 401(k) Plan. The Company matched 100% of employee contributions up to 6% of the employee’s salary, subject to cliff vesting after two years of service. At the end of the first quarter of 2020, the Company suspended its match of employee contributions. For the three months ended September 30, 2020 and 2019, matching contributions were $0.0 million and $1.1 million, respectively. For the nine months ended September 30, 2020 and 2019, matching contributions were $1.0 million and $3.8 million, respectively. The matching contributions were included in cost of services and selling, general and administrative expenses in the condensed consolidated statement of operations.
The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef