Annual report pursuant to Section 13 and 15(d)

Note 10 - Accrued Expenses

v2.4.1.9
Note 10 - Accrued Expenses
12 Months Ended
Dec. 31, 2014
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Liabilities Disclosure [Text Block]

NOTE 10


ACCRUED EXPENSES


Accrued expenses at December 31 include the following (in thousands):


   

2014

   

2013

 

Salaries and employee benefits

  $ 2,935     $ 3,473  

Accrued sales, property and other tax

    410       370  

Interest payable

    22       27  

Insurance payable

    546       726  

Other

    627       605  

Total accrued expenses

  $ 4,540     $ 5,201  

The Company has an individual Management Incentive Plan (“MIP”) for each of our Chief Executive Officer, Chief Financial Officer and new Chief Operating Officer (“COO” - appointed on March 20, 2014) which awards cash compensation based on achievement of certain performance targets for fiscal year 2014. No compensation was accrued for in 2014 under each MIP as no amount was payable under each of the MIPs. No performance incentive payments were made under any of the MIPs in 2013.