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COMMITMENTS

12 Months Ended

Dec. 31, 2013

16. COMMITMENTS

The Group leases offices under non-cancelable operating leases agreements. Rent expenses under operating leases for the years ended December 31, 2011, 2012 and 2013 were $28,927, $40,490, and $42,429, respectively.

Future minimum lease payments under non-cancelable operating leases agreements are as follows:

Years ending December 31,
2014		36,271
2015		29,755
2016		21,333
2017		12,578
2018 and thereafter		17,925
		117,862

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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