Note 12 Note 1 Note 2 Note 3 Note 4 Note 5 Note 6 Note 7 Note 8 Note 9 Note 10 Note 11 Note 13 Note 14 Note 15 Note 16 Note 17 Note 18 Note 19 Note 20 NOTE 12: COMMITMENTS AND CONTINGENT LIABILITIES The Company leases office space under noncancellable operating leases. The office leases contain certain escalation clauses whereby the rental commitments may be increased if certain conditions are satisfied and specify yearly adjustments to the lease amounts based on annual adjustments to the Consumer Price Index. Rental expense under the office leases was as follows: Additionally, the Company leases computer and other equipment under noncancellable operating leases. As of December 31, 2001, future minimum rental commitments under all noncancellable operating leases were as follows: The Company has provided a $11.0 million letter of credit as a guarantee to one of the Company’s lease obligations. The Company has a guarantee with one of its foreign subsidiary’s clearing brokers, obligating the Company to generate and pay clearing fees of a minimum of $9.0 million for each of the years ended June 30, 2002 and June 30, 2003. As of December 31, 2001, the Company has generated $3.4 million against this guarantee.