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Related Party Transactions
9 Months Ended
Sep. 30, 2015
Related Party Transactions  
Related Party Transactions

 

4.Related Party Transactions

 

The Company is a party to ongoing agreements with Dow, a related party, including, but not limited to, operating-related agreements for certain transition services, seconded employees and occupancy.  The Company paid Dow an aggregate of $6.9 million for such services for the two-month period ending September 30, 2015, made up of a $5 million prepayment related to the Transition Services Agreement, $1.7 million related to the ongoing costs of the Transition Services Agreement, and $0.2 million for other expenses. As of September 30, 2015 the Company has an outstanding payable to Dow of $2.4 million related to $1.2 million of inventory purchased, $0.6 million for seconded employees, and $0.6 million for other expenses.