The computation of basic and diluted net loss per share for the periods indicated is as follows:

Included in the computation of basic net loss per share for the three and six months ended June 30, 2017 and 2016 were 26,669 and 80,001 potentially dilutive shares, respectively.

Additionally, at June 30, 2017 and 2016, we were contingently obligated to pay $0.2 million and $4.3 million, which may be settled, at our option, in either cash or an equivalent amount of common shares based upon their then-current market value, if certain performance criteria had been met. The equivalent amount of common shares have been excluded from the computation of diluted net loss per share for the three and six months ended June 30, 2017 and 2016, as they were antidilutive.

At June 30, 2017 and 2016, 24,928 and 27,828 outstanding options, respectively, with an average exercise price of $44.45 and $43.34, respectively, were not recognized in the diluted earnings per share calculation as they were antidilutive.