18. COMMITMENTS AND CONTINGENCIES Legal Proceedings In the ordinary course of business, we may be subject to legal and regulatory proceedings and examinations that are generally incidental to our ongoing operations. While there can be no assurance of the ultimate disposition of any such proceedings or examinations, we do not believe their disposition will have a material adverse effect on our consolidated financial statements. Lease Commitments On September 16, 2011, we entered into a new lease agreement for our corporate headquarters at 250 Park Avenue, New York, New York in the building in which our headquarters are currently located (the "Lease"). The Lease is expected to commence in the second quarter of 2012 and has a term of 10 years and 6 months. The Lease replaces the existing lease for our corporate headquarters, which expires 30 days after the commencement date of the new Lease. The annual minimum rent, which is expected to commence in the second quarter of 2012, will be approximately $1.6 million for the first six years of the Lease and is subsequently subject to escalation clauses within the Lease. We also lease office space for a secondary location in Rosemont, Illinois and certain office equipment under agreements which expire through February 2021. As part of our restructuring activities, in March 2012 we reached an agreement with the landlord to terminate the lease. See Note 19 for additional information on this agreement. During the years ended December 31, 2011 and 2010, we recorded $1.5 million and $1.7 million, respectively, in rental expense in occupancy in the consolidated statements of operations. Excluding the Lease for the new corporate headquarters which has not yet commenced, future minimum commitments under operating leases are as follows: New York Rosemont(1) Total (In thousands) 2012 $ 669 $ 619 $ 1,288 2013 1,205 604 1,809 2014 1,607 703 2,310 2015 1,607 621 2,228 2016 1,607 634 2,241 Thereafter 10,028 2,776 12,804 $ 16,723 $ 5,957 $ 22,680 (1) In March 2012 we reached an agreement