Annual report pursuant to Section 13 and 15(d)

Commitments

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Commitments
 12 Months Ended
Jul. 31, 2014
Disclosure Text Block Supplement [Abstract]  
Commitments Disclosure [Text Block]

Note 13 - Commitments


Leases


The Company leases equipment, office and laboratory space under several non-cancelable operating leases that expire between September 2014 and May 2023. Certain leases include renewal options and rent escalation clauses. An entity owned by certain executive officers/directors of the Company owns the building that the Company leases as its main facility for laboratory operations and certain research operations. In March 2005, the Company amended and extended the lease for 12 years. 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 $1,649, $1,605 and $1,556 during fiscal years 2014, 2013 and 2012, respectively. Total rent expense incurred by the Company during fiscal 2014, 2013 and 2012 for all its facilities was approximately $4,488, $4,354 and $4,378, respectively.


Minimum future annual rentals under all non-cancelable operating leases, net of sublease rental income of $322, as of July 31, 2014, are as follows:


Years ended July 31,        
  2015       5,627  
  2016       4,999  
  2017       3,731  
  2018       2,306  
  2019       1,733  
  Thereafter       1,106  
        $ 19,502  

Employment Agreements


The Company has employment agreements with certain officers that are cancelable 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 agreement automatically renews for two years. Aggregate minimum compensation commitments, exclusive of any severance provisions, as of July 31, 2014 is $2,271.