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Note 11 - Related Party Transactions
12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
11.
          RELATED PARTY TRANSACTIONS
 
During
2019,
2018
and
2017,
$0.2
million,
$0.3
million and
$0.3
million, respectively in interest payments were made in relation to the promissory notes issued to related party, IED, see Note
7
Notes Payable, for further details.
 
Executive Chairman of the Board of Directors, Chief Legal Counsel, and former Chief Executive Officer, William J. Clough’s son Nicholas J. Clough, serves as President at Orbital Gas Systems, North America, Inc., a wholly owned subsidiary of the Company, and as Chief Sales Officer for the Energy Division. In
2019,
2018,
and
2017,
Mr. Clough received an aggregate salary of
$269
thousand,
$213
thousand, and
$200
thousand, respectively, and received a cash bonus of
$158
thousand,
$150
thousand, and
$150
thousand in fiscal
2019,
2018,
and
2017,
respectively. He also received other benefits valued at
$49
thousand,
$49
thousand, and
$41
thousand in
2019,
2018,
and
2017,
respectively. As of
December 31, 2019
and
2018,
there was an accrual of
$0
thousand and
$13
thousand, respectively, for compensation accrued to Nicholas J. Clough. Nicholas J. Clough does
not
report to the William J. Clough nor does William J. Clough have input regarding Nicholas J. Clough’s salary, bonus, or performance. Mr. Clough’s salary and bonus is set by his direct supervisor and relevant market conditions, while his performance is evaluated and monitored by his direct supervisor. In addition, pursuant to Company policy, any related-party bonus and/or salary change in excess of
$50,000
is independently reviewed and approved by the Company’s Compensation Committee, comprised of Independent Board Members from the Company’s Board of Directors.
 
Orbital employs
three
owners of EnDet, Ltd. from which the Company licenses its VE Technology. See Note
9
- Commitments and Contingencies - Commissions, Royalty and License Fee Agreements for more information on license fee agreements.