Accrued Liabilities and Other

As of September 30, 2016 and June 30, 2016, our other current liabilities consisted of the following:



	September 30, 2016		June 30, 2016
Accrued incentive and other compensation	$	161,408	$	999,172
Asset retirement obligations due within one year	145,209		201,896
Accrued royalties, including suspended accounts	43,679		49,580
Accrued franchise taxes	36,900		62,834
Accrued restructuring costs	316,625		419,488
Payables for settled derivatives	—		318,708
Dividends declared on preferred shares	82,415		—
Other accrued liabilities	53,077		46,273
Accrued liabilities and other	$	839,313	$	2,097,951

Accrued Restructuring Costs

On December 31, 2015 we terminated three employees of the Company in connection with the separation of our artificial lift technology operations. We recorded a personnel restructuring charge of $688,205, consisting of $59,339 in stock-based compensation from accelerated vesting of equity awards and $628,866 of accrued salary and benefit continuation expenses. The separation agreements included releases from liabilities and other provisions including agreements not to compete. Our current estimate of remaining restructuring obligations as of September 30, 2016 is as follows:



Type of Cost	December 31, 2015		Payments			September 30, 2016
Salary expense	$	530,387	$	(265,193	)	$	265,194
Payroll taxes and benefits expense	98,479		(47,048		)	51,431
Accrued liability for restructuring costs	$	628,866	$	(312,241	)	$	316,625