Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:



	February 29, 2016		February 28, 2015
Commissions	$	818	$	740
Employee compensation	21,514		24,356
Professional fees and accrued settlements	3,405		2,206
Future warranty	8,806		8,317
Freight and duty	2,935		3,291
Payroll and other taxes	2,071		2,406
Royalties, advertising and other	11,199		10,428
Total accrued expenses and other current liabilities	$	50,748	$	51,744

In August 2003, the Company entered into a call/put option agreement with certain employees of Voxx Germany, whereby these employees could acquire up to a maximum of 20% of the Company's stated share capital in Voxx Germany at a call price equal to the same proportion of the actual price paid by the Company for Voxx Germany. The agreement was amended in April 2014, fixing the put price at €3,000 and the call price at €0, with the put subject only to downward adjustments for losses incurred by Voxx Germany, beginning in Fiscal 2015. The put options become immediately exercisable upon (i) the sale of Voxx Germany or (ii) the termination of employment or death of the employee. Beginning in Fiscal 2015 and for each fiscal year thereafter, the employees will also receive a dividend equal to 20% of Voxx Germany's net after tax profits. Accordingly, the Company recognizes compensation expense based on 20% of the after tax net profits of Voxx Germany, subject to certain tax treatment adjustments as defined in the agreement, representing the annual dividend. The balance of the call/put option included in Accrued Expenses and Other Current Liabilities on the Consolidated Balance Sheets at February 29, 2016 and February 28, 2015 was $3,614 and $3,765, respectively, and is included within employee compensation in the table above. Compensation expense for these options amounted to $357, $451 and $580 for the years ended February 29, 2016, February 28, 2015 and February 28, 2014, respectively.

Also included in Accrued Expenses and Other Current Liabilities on the Consolidated Balance Sheet at February 28, 2015 was an accrual for restructuring charges of $1,134. These charges represented termination benefits related to a headcount reduction announced by the Company in the fourth quarter of Fiscal 2015. The accrued benefits are included within employee compensation in the table above at February 28, 2015. These benefits were paid in the first quarter of Fiscal 2016. There were no restructuring charges accrued at February 29, 2016.