DEFERRED COMPENSATION ARRANGEMENTS

12 Months Ended

Dec. 31, 2015

DEFERRED COMPENSATION ARRANGEMENTS

DEFERRED COMPENSATION ARRANGEMENTS

10.DEFERRED COMPENSATION ARRANGEMENTS

The Company has deferred compensation arrangements with certain key members of management.  These arrangements provide the Board with the ability to make contributions based on the Company’s performance and discretionary contributions based on other factors as determined by the Board.  It also allows for the participants to make certain deferrals into the plan.  The amount of the liability is composed of liabilities from previous contributions as well as the performance contribution for the year ended December 31, 2015.  Amounts accrued relating to previous contributions to the plan were $2,636 and $2,167 as of December 31, 2015 and December 31, 2014, respectively, and are included in noncurrent liabilities in the consolidated balance sheets.  The amounts accrued as of December 31, 2015 and December 31, 2014, respectively, which relate to the performance contribution for 2015 and 2014 are $469, and $430, respectively, and are included in accrued liabilities on the consolidated balance sheets.

In addition, the Company would contribute certain amounts to a Supplemental Executive Retirement Plan in the event of death, disability, or termination without cause, for certain key executives.  As of December 31, 2015 this amount would be approximately $308.