Note 15 - Employee benefit plans

The Company has a qualified Salary Reduction Profit Sharing Plan (the “Plan”) for eligible U.S. employees under Section 401(k) of the Internal Revenue Code. The Plan provides for voluntary employee contributions through salary reduction and voluntary employer contributions at the discretion of the Company. For the year ended July 31, 2023, the Company authorized employer matched contributions of 50% of the employees’ contribution of the employees’ compensation, payable in Enzo Biochem, Inc. common stock. For the year ended July 31, 2022, the Company authorized employer matched contributions of 50% of the employees’ contribution up to 10% of the employees’ compensation, payable in Enzo Biochem, Inc. common stock.

The share-based 401(k) employer matched contribution was approximately $1,079 and $814 in fiscal years 2023 and 2022, respectively. As of July 31, 2023 and 2022, the Company accrued a total of $263 and $140, respectively in 401(k) matching contribution obligations within the Accrued liabilities account.

The Company’s Swiss operations provide a pension plan named the Enzo Life Sciences (ELS) AG Vertrag - Nr. 2/401144, (the “Swiss Plan”) under the Swiss government’s social security system for Swiss employees. The current required minimum saving contribution is 13% for employees over age 25 and minimum annual investment return is 1.00%. Employees are required to contribute based on a formula and the Company’s Swiss operations make contributions of at least 40% of the employee contribution. The status of the Swiss Plan, which is substantially funded as of December 31, 2022, the latest plan year end, is as follows:

The contract for the Swiss Plan automatically renews on its annual anniversary unless notice of termination is provided three months prior. The current contract will automatically renew on December 31, 2023. Currently, the Company has no plans to change the current funding or plan design. No events have occurred that would impact the Swiss Plan status.