10RESTRUCTURING

On July 11, 2012, the Company announced plans to restructure certain operations related to its Watercraft segment. Specifically, the Company restructured its product sales and distribution in Europe and consolidated all of its U.S. operations at a single location in Old Town, Maine. The Company believes this plan will enhance the competitiveness and profit potential of its Watercraft business. This action resulted in the closure of two sales offices in the U.K. and France, the closure of a marketing and R&D facility in Bellingham, Washington and the elimination of approximately 24 positions in the U.S. and Europe. The related charges are included in the “Administrative management, finance and information systems” line in the Company’s accompanying Condensed Consolidated Statements of Operations in the Watercraft segment. The planned actions related to this restructuring were completed in fiscal 2013 and the total cost of this restructuring was approximately $2,500.

Changes in the accrual related to this restructuring project for the three month period ended January 2, 2015 were as follows:



		Employee Termination Costs		Contract Exit Costs		Other Exit Costs		Total
Accrued restructuring liabilities as of October 3, 2014		1		14		26		41
Activity during the period ended January 2, 2015:
Charges (credits) to earnings		-		-		-		-
Settlement payments		(1)		(14)		(26)		(41)
Accrued restructuring liabilities as of January 2, 2015	$	-	$	-	$	-	$	-