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Deferred Compensation
9 Months Ended
Sep. 30, 2020
Compensation Related Costs [Abstract]  
Deferred Compensation
12. Deferred Compensation

 

Pursuant to the Company’s employment agreements with the founders, the founders have earned incentive compensation totaling $100,828 and $117,166 in cash, as of September 30, 2020 and December 31, 2019, respectively, which payment obligation has been deferred by the Company until it reasonably believes it has sufficient cash to make the payment. Following the retirement of founder A. Michael Chretien on December 8, 2017, the Company made bi-weekly payments of $1,846 until his portion of the deferred compensation had been paid, which occurred in May, 2020. For the three and nine months ended September 30, 2020 and 2019, the Company paid $0 and $16,338, respectively, and $11,077 and $35,077, respectively, which is reflected as a reduction in the deferred compensation liability.