Annual report pursuant to Section 13 and 15(d)


12 Months Ended
Jul. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  

Note 15 - Commitments




An entity owned by certain executive officers/directors of the Company owns the building that the Company leases as its main facility for clinical laboratory operations and certain research operations. In addition to the minimum annual rentals of space, the lease is subject to annual increases, based on the consumer price index. Annual increases are limited to 3% per year. Rent expense for this lease, inclusive of real estate taxes, approximated $1,815, $1,833 and $1,849 during fiscal years 2021, 2020 and 2019, respectively.

Employment Agreements


The Company has employment agreements with certain officers that are cancellable at any time but provide for severance pay in the event an officer is terminated by the Company without cause, as defined in the agreements. Unless cancelled earlier or with notice as defined, the agreements automatically renew for two years. The current agreements expire January 2023. As of July 31, 2021, aggregate minimum compensation commitments under these agreements, exclusive of termination and change in control provisions, is $2,306.