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Related Party Transaction
6 Months Ended
Jun. 29, 2013
Related Party Transaction  
Related Party Transaction

11. Related Party Transaction

 

On March 26, 2013, the Company entered into an agreement to purchase consulting services in connection with the acquisition of Energy Micro. The fees for such services were $250,000 during the six months ended June 29, 2013. The Company expects to pay an additional approximately $1.3 million in fees during the three months ending September 28, 2013. Mr. Bock, the Company’s President, is also an independent contractor with the consulting entity. Mr. Bock is not providing consulting services to the Company on behalf of the entity. Mr. Bock and the entity have agreed that Mr. Bock will receive no compensation in conjunction with the agreement. Mr. Bock abstained from the negotiations with respect to the agreement between the Company and the entity.