Vonage 2010 Annual Report Download - page 82

V
O
NA
G
EH
O
LDIN
GS CO
RP
.
N
OTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(
In thousands, except per share amounts
)
In
f
ormation regarding the options outstanding as o
f
December 31, 2010 is summarized below
:
S
tock
O
ptions
O
utstandin
g
S
tock
Op
tions Exercisable
Range o
f
E
xerc
i
se
P
r
i
ce
s
S
toc
k
Option
s
O
utstanding
W
e
i
g
h
te
d
A
verag
e
R
ema
i
n
i
ng
C
ontractual
Life
W
e
i
g
h
te
d
A
verag
e
E
xerc
i
se
P
r
i
ce
A
ggregat
e
I
ntr
i
ns
i
c
V
a
l
u
e
S
toc
k
Option
s
V
este
d
an
d
E
xerc
i
sa
ble
W
e
i
g
h
te
d
A
verag
e
R
ema
i
n
i
ng
C
ontractual
Life
W
e
i
g
h
te
d
A
verage
E
xerc
i
se
P
r
i
ce
A
ggregat
e
I
ntr
i
ns
i
c
V
a
l
ue
(
in thousands
)(
in
y
ears
)(
in thousands
)(
in thousands
)(
in
y
ears
)(
in thousands
)
$
0.33 to
$
1.43 23,787 1.26 6,623 1.2
4
$
1.44 to
$
1.99 5,940 1.86 4,046 1.83
$
2.00 to
$
4.00 1,713 2.42 714 2.4
3
$
4.01 to
$
7.34 2,005 4.52 1,612 4.58
$
7.35 to
$
35.00 2,284 11.55 2,284 11.5
5
3
5
,
729 6.3 2.26 $25
,
582 15
,
279 4.7 3.35 $8
,
310
R
e
tir
e
m
e
nt Pl
a
n
In March 2001, we established a 401
(
k
)
Retiremen
t
Plan
(
the “Retirement Plan”
)
available to emplo
y
ees wh
o
meet the plan’s eli
g
ibility requirements. Participants ma
y
elect to contribute a percenta
g
e of their compensation t
o
t
he Retirement Plan up to a statutory limit. We may make
aco
ntri
bu
ti
o
nt
o
th
e
R
e
tir
e
m
e
nt Pl
a
ninth
efo
rm
of a
m
atchin
g
contribution. The employer matchin
g
con
-
t
ribution is 50
%
o
f
each employee’s contributions not to
exceed $6 in 2008, 2009, and 2010. Our ex
p
ense related
t
o the Retirement Plan was $1,615, $620, and $1,307 i
n
2010, 2009, and 2008, respectively
.
N
o
te 10
.
C
ommitments an
d
C
ontingencies
C
apital Leases
Assets
f
inanced under capital lease agreements are
i
nc
l
u
d
e
di
n propert
y
an
d
equ
i
pment
i
nt
h
e conso
lid
ate
d
b
a
l
ance s
h
eet an
d
re
l
ate
dd
eprec
i
at
i
on an
d
amort
i
zat
i
o
n
expense is included in the consolidated statements of
operat
i
ons.
O
n March 24
,
2005
,
we entered into a lease for our
h
ea
d
quarters
i
n
H
o
l
m
d
e
l
,
N
ew
J
erse
y
.
W
e too
k
pos-
s
ession of a portion of the office space at the inception o
f
th
e
l
ease, anot
h
er port
i
on on
A
ugust 1, 2005 an
d
too
k
over the remainder of the office space in earl
y
2006. The
overall lease term is twelve
y
ears and five months. I
n
connection with the lease
,
we issued a letter of credit
which requires
$
7,350 of cash as collateral, which is
classified as restricted cash. The gross amount of th
e
building recorded under capital leases totaled
$
25,709 as
of December 31, 2010 and accumulated depreciation was
approximatel
y$
11,051 as of December 31, 2010
.
Operatin
g
Lease
s
We have entered into various non-cancelable o
p
erat
-
i
n
g
lease a
g
reements
f
or certain o
f
our existin
g
o
ff
ice an
d
t
elecommunications co-location s
p
ace in the United
S
tates and for international subsidiaries with ori
g
inal leas
e
p
eriods expirin
g
between 2011 and 2015. We are commit-
t
ed to pay a portion o
f
the buildin
g
s’ operatin
g
expenses
as determined under the a
g
reements.
A
t December 31, 2010,
f
uture payments under capital leases and minimum payments under non-cancelable operatin
g
l
eases are as
f
ollows over each o
f
the next
f
ive years and therea
f
ter
:
December 31, 201
0
C
apital
L
eases
O
perating
L
eases
201
1
4,
118 3
,
770
201
2
4,
200 2
,
62
7
201
3
4,
284 931
2014
4,
369 270
201
5
4,
457 150
Therea
f
ter
7,
616
—
T
ota
l
m
i
n
i
mum payments requ
i
re
d
29,044 $7,74
8
Less amounts representin
g
interest
(
9,596
)
M
inimum future payments of principa
l
19
,
448
C
urrent
p
ortio
n
1
,7
83
L
ong-term port
i
on $17
,
66
5
F
-
27