Lease Commitments

12 Months Ended

Dec. 31, 2011


8.	LEASE COMMITMENTS

We rent office space and equipment under operating lease agreements expiring at various dates through January 2015. Rent expense for office facilities was $1.1 million in 2011, $777,000 in 2010 and $585,000 in 2009.

Future minimum annual lease payments under noncancelable operating leases for the years ending December 31, 2012, 2013, 2014 and 2015 are $548,000, $397,000, $287,000 and $16,000, respectively.

- 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.

+ References+ Details