Accrued Expenses

9 Months Ended

Sep. 30, 2014

(5)	Accrued Expenses

Accrued expenses consist of the following:

(in thousands)	September 30, 2014		December 31, 2013
Compensation, excluding taxes	$	2,781	$	1,866
Deferred rent		71		485
Professional fees		282		360
Short-term portion of lease restructuring		334		–
Other¹		958		1,029
Total accrued expenses	$	4,426	$	3,740

¹ Other consists of various accrued expenses, with no individual item accounting for more than 5% of current liabilities at September 30, 2014 and December 31, 2013.

In November 2013, the Board of Directors approved an Employee Retention Program for certain key employees, including the Company’s executive officers. The key employees will be eligible to receive a cash retention bonus payment equal to fifty percent (50%) of their current annual salary if they remain employed by the Company through March 31, 2015. The expense related to this program is being accrued ratably over the required service period and has been included in Accrued expenses on the Condensed Consolidated Balance Sheets and in both Selling, general and administrative and Research and development on the Condensed Consolidated Statements of Operations.

For a description of the Company’s lease restructuring liability refer to Note 6 Restructuring Expenses of these Condensed Consolidated Financial Statements.