XML 59 R29.htm IDEA: XBRL DOCUMENT v2.4.1.9
RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2014
RELATED PARTY TRANSACTIONS [ABSTRACT]  
RELATED PARTY TRANSACTIONS

(22)       RELATED PARTY TRANSACTIONS

The Company has entered into an agreement under which Avion, LLC (“Avion”) provides certain aviation flight services as requested by the Company. Such services include the use of an aircraft and flight crew. Kenneth D. Tuchman, Chairman and Chief Executive Officer of the Company, has a direct 100% beneficial ownership interest in Avion. During 2014, 2013 and 2012, the Company paid $1.0 million, $0.6 million and $0.9 million, respectively, to Avion for services provided to the Company. There was $30 thousand outstanding to Avion as of December 31, 2014.

During 2014, the Company entered into a vendor contract with Conversent to provide learning management and web and telephony based global helpline solutions. The majority owner of Conversent is a company which is owned and controlled by Kenneth D. Tuchman, Chairman and Chief Executive Officer of the Company. During 2014, the Company paid $20 thousand to Conversent and is expecting to spend another $100 thousand during 2015 and 2016.

The Audit Committee of the Board of Directors reviews the related party transactions quarterly and has determined that the fees charged by these related parties are at fair market value.