Restructuring

Q1 2012 Restructuring Plan

During the first quarter of 2012, the Company's board of directors approved and committed to a restructuring plan (the “Q1 2012 Restructuring Plan”) to reduce its cost structure, which included a total of 13 employee terminations in Hungary, Singapore, and the United States. Costs of $572,000 were originally recognized in selling, general and administrative expenses during the year ended December 31, 2012, comprised of employee severance and other termination benefits. The Company made cash payments of $512,000 and recorded $60,000 of reductions to previously recorded charges during 2012 and have no further obligations under this restructuring plan.

Q3 2012 Restructuring Plan

As a result of the termination of the Shell Research Agreement, the Company initiated a series of cost reduction measures. During the third quarter of 2012, the Company's board of directors approved and committed to a restructuring plan (the “Q3 2012 Restructuring Plan”) to reduce its cost structure which included approximately 173 employee terminations in the United States and Singapore and the closing of the Company's Singapore facility. Approximately 150 of the total 173 employee terminations impacted the research and development functions with the remaining 23 employees impacted the general and administrative functions.

The Company's cost of the Q3 2012 Restructuring Plan was $2,418,000, comprised of $1,071,000 of leasehold improvement write down, $684,000 for employee severance and other termination benefits, $320,000 for facility lease termination costs and $342,000 for equipment disposal charges. For the twelve months ended December 31, 2012, costs of $1,470,000 have been recognized in selling, general and administrative expenses and $948,000 have been recognized in research and development on the Company's consolidated statements of operations. As of December 31, 2012, there was $68,000 recorded in accrued compensation and $352,000 recorded as accrued expenses on the Company's consolidated balance sheet and the remaining payments were made in 2013. The Company does not anticipate recording any further costs under this restructuring plan.

Q4 2013 Restructuring Plan

During the fourth quarter of 2013, the Company's board of directors approved and committed to a restructuring plan (the “Q4 2013 Restructuring Plan”) to reduce its cost structure resulting from the Company's decision to begin winding down its CodeXyme^® cellulase enzymes program, which included a total of 15 employee terminations in the United States. For the year ended December 31, 2013, costs of $809,000 of employee severance and other termination benefits have been recognized, consisting of $573,000 in research and development expenses and $236,000 in selling, general and administrative expenses. As of December 31, 2013, there was $277,000 recorded in accrued compensation on the Company's consolidated balance sheet. Associated with the Q4 2013 Restructuring Plan, the Company announced it was selling certain R&D assets that have become excess to future requirements (see Note 5). The Company does not anticipate recording any further costs under this restructuring plan.

The following table summarizes the activity in the restructuring accrual during the years ended December 31, 2013 and 2012 (in thousands):



	Q1 2012 Restructuring Plan			Q3 2012 Restructuring Plan			Q4 2013 Restructuring Plan			Total
Restructuring charges	$	572		$	2,537		$	—		$	3,109
Cash payments	(512		)	(611		)	—			(1,123		)
Leasehold improvements write-down and equipment disposal charges	—			(1,413		)	—			(1,413		)
Adjustments to previously accrued charges	(60		)	(93		)	—			(153		)
Balance at December 31, 2012	—			420			—			420
Restructuring charges	—						809			809
Cash payments	—			(345		)	(532		)	(877		)
Non-cash items	—			(49		)	—			(49		)
Adjustments to previously accrued charges	—			(26		)	—			(26		)
Balance at December 31, 2013	$	—		$	—		$	277		$	277