Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies

Commitments and Contingencies
12 Months Ended
Sep. 30, 2014
Commitments and Contingencies [Abstract]  
Commitments and Contingencies

Note 17. Commitments and Contingencies


Operating Leases 


The Company has obligations under various non-cancelable long-term operating leases for equipment. In addition, the Company has various obligations under other equipment leases of less than one year.


Total rent expense was approximately $2,015,000, $1,182,000 and $1,256,000 for the years ended September 30, 2014, 2013 and 2012, respectively.


The future minimum rental payments under non-cancelable operating leases are as follows:


(in thousands)          
2015     $ 578  
2016       529  
2017       124  
2018       -  
2019       -  
       Total     $ 1,231  


Change in Control Agreements

The Company has entered into Change in Control Agreements (“CIC Agreements”) with its executive officers and 22 other key employees (“CIC Recipients”). The CIC Agreements provide for cash payments to CIC Recipients in the event of a change in control as defined in the CIC Agreements followed by the termination of a CIC Recipient within 18 months of the change in control. The total payments required by CIC Agreements are $2,504,000 for executive officers and $1,417,000 for other key employees (see “Note 19. Subsequent Events” in the Notes to Consolidated Financial Statements).


Letters of Credit 


The Company has retained certain self-insurance risks with respect to losses for workers' compensation and has standby letters of credit in the total amount of $254,000 for the year ended September 30, 2014 and $200,000 for the year ended September 30, 2013, to secure its insurance obligations.