Related Party Transactions

9 Months Ended

Sep. 30, 2014

RELATED PARTY TRANSACTIONS

A member of the Company’s Board of Directors, Gerald S. Lippes, is a partner in a law firm that provides legal services to the Company. At September 30, 2014 and December 31, 2013, the Company had $338,000 and $296,000, respectively, recorded in accounts payable for amounts due to this law firm. For the three and nine months ended September 30, 2014 and 2013, the Company incurred the following costs for legal services from this firm, including services provided in 2013 in connection with the note refinancing and classified as deferred financing costs (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Selling, general, and administrative expense	$	339	$	579	$	974	$	1,014
Capitalized as deferred financing costs	—		—		—		223
Total related-party legal costs	$	339	$	579	$	974	$	1,237

Effective September 30, 2013, Henning N. Kornbrekke, the former President and Chief Operating Officer, retired and entered into a consulting agreement with the Company. Through this agreement, he will serve as a consultant to the Company through December 2014 for a monetary fee of $10,000 per month.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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