Note 14 - Commitments

Leases

The Company leases equipment and office and laboratory space under several non-cancellable operating leases that expire through June 2028. 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 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 $1,849, $1,798, and $1,752 during fiscal years 2019, 2018 and 2017, respectively. Total rent expense incurred by the Company during fiscal 2019, 2018 and 2017 for all its facilities was approximately $4,873, $4,398 and $4,658, respectively.

Minimum future annual rentals under all non-cancellable operating leases, net of sublease rental income of $134, as of July 31, 2019, are as follows:

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 agreement automatically renews for two years. Aggregate minimum compensation commitments, exclusive of any severance provisions as of July 31, 2019 is $2,498.