15. Commitments and Contingencies General The decline in general economic conditions in the United States may have or continue to have a negative impact on the local economic conditions near the casinos Lakes manages and may negatively impact Lakes  management fees and the availability of credit to finance Lakes  development projects. Aircraft Lease On November 17, 2011, Lakes terminated its aircraft lease with Banc of America Leasing &amp; Capital, LLC, which was set to expire on February 28, 2018. To complete the early termination of the lease, Lakes incurred a loss of approximately $3.3 million. Rent expense under the Company s aircraft operating lease, exclusive of taxes, insurance and maintenance expense was $0.4 million and $0.5 million for fiscal 2011 and fiscal 2010, respectively. Rock Ohio Ventures, LLC Lakes  has a 10% ownership in Rock Ohio Ventures and as of January 1, 2012, Lakes has contributed approximately $15.7 million as required (see note 6, Investment in Unconsolidated Investee ). Lakes currently plans to contribute additional capital as needed to maintain its equity position in Rock Ohio Ventures. If Lakes chooses not to fund any additional amounts, it will maintain an ownership position in Rock Ohio Ventures in a pro rata amount of what its $2.8 million initial payment is to the total amount of equity funded to develop casino operations, and all equity funded in excess of the initial $2.8 million is required to be repurchased at an amount equal to the price paid. Employment Agreements Lakes has entered into employment agreements with certain key employees of the Company. The agreements provide for certain benefits to the employee as well as severance if the employee is terminated without cause or due to a  constructive termination  as defined in the agreements. The severance amounts depend upon the term of the agreement and can be up to three years of base salary and three years of bonus calculated as the average bonus earned in the previous two years. If such termination occurs within two y