Other Long-Term Liabilities

6 Months Ended

Jun. 30, 2011

Other Long-Term Liabilities

Other Long-Term Liabilities

(9) Other Long-Term Liabilities

Other long-term liabilities include the following:

	June 30, 2011			December 31, 2010
	(In thousands)
Deferred Rent	$	443		$	450
Severance	282			685
Deferred Tax Liabilities	4,661			4,661
Deferred Income from Sale of Tax Benefits	510			—
Deferred Revenue	22			—
Loan Payable	555			581
Note Payable	—			32
Total	6,473			6,409
Less Current Portion	(479		)	(818		)
Long-Term Portion	$	5,994		$	5,591

In January 2011, the Company received approval from the New Jersey Economic Development Authority and agreed to sell New Jersey tax benefits worth $0.6 million (consisting of R&D tax credits) to an independent third party for $0.5 million.  Under the agreement, the Company must maintain a base of operations in New Jersey for five years or the tax benefits must be paid back on a pro-rata basis based on the number of years completed.