Note 9 - Post-retirement Benefits

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

9. POST-RETIREMENT BENEFITS

Effective

January

1,

1992,

we adopted the Outside Directors’ Retirement Plan which provides that each non-employee director, upon resignation from the Board of Directors after reaching the age of

65,

will receive a cash payment equal to

$5,000

for each full year of service as a director of the Company (and its predecessors and successors) up to

$50,000.

The plan was terminated in

2011.

At

December

31,

2016

and

2015,

we have accrued

$50,000

and

$59,000,

respectively, which is included in other current liabilities in the Consolidated Balance Sheets, for future payments that were earned under the plan before it was terminated.