8.COMMITMENTS, CONTINGENCIES AND OFF-BALANCE-SHEET ARRANGEMENTS

Lease Commitments – The Company finances its use of certain facilities and equipment under committed lease arrangements provided by various institutions. Since the terms of these arrangements meet the accounting definition of operating lease arrangements, the aggregate sum of future minimum lease payments is not reflected on the consolidated balance sheets. At December 31, 2014, future minimum lease payments under these arrangements approximated $203.7, of which $171.9 is related to long-term real estate leases.

Rent expense for the years ended December 31, 2014, 2013 and 2012 was $29.7, $30.2 and $35.6, respectively. Future payments under operating leases with terms greater than one year as of December 31, 2014 are as follows:


Year Ending December 31,
2015	$	27.7
2016		26.2
2017		23.7
2018		21.2
2019		17.8
Thereafter		87.1
Total	$	203.7

Litigation – The Company is a defendant in various legal actions arising in the normal course of business, the outcomes of which, in the opinion of management, neither individually nor in the aggregate are likely to result in a material adverse effect on the Company's consolidated financial statements.

Indemnities, Commitments and Guarantees – During its normal course of business, the Company has made certain indemnities, commitments and guarantees under which it may be required to make payments in relation to certain transactions. These indemnities include non-infringement of patents and intellectual property indemnities to the Company's customers in connection with the delivery, design, manufacture and sale of its products, indemnities to various lessors in connection with facility leases for certain claims arising from such facility or lease and indemnities to other parties to certain acquisition agreements. The duration of these indemnities, commitments and guarantees varies, and in certain cases, is indefinite. Many of these indemnities, commitments and guarantees provide for limitations on the maximum potential future payments the Company could be obligated to make. However, the Company is unable to estimate the maximum amount of liability related to its indemnities, commitments and guarantees because such liabilities are contingent upon the occurrence of events that are not reasonably determinable. Management believes that any liability for these indemnities, commitments and guarantees would not be material to the accompanying consolidated financial statements. Accordingly, no significant amounts have been accrued for indemnities, commitments and guarantees.

Employment Agreements – The Company has employment and compensation agreements with two key officers of the Company. An agreement for one of the officers provides for the officer to earn a minimum of $0.9 per year through a three-year period ending from any date after which it is measured, adjusted annually as determined by the Company's Compensation Committee of the Board of Directors, as well as a retirement compensation payment equal to 100% of the base salary.

One other agreement provides for an officer to receive annual minimum compensation of $1.0 per year through a three-year period ending from any date after which it is measured, adjusted annually as determined by the Company's Compensation Committee of the Board of Directors, and to receive a retirement compensation payment equal to 27.5% of the officer’s average three years' annual salary (as defined).

In addition, the Company has employment agreements with certain other key members of management expiring on various dates. The Company's employment agreements generally provide for certain protections in the event of a change of control. These protections generally include the payment of severance and related benefits under certain circumstances in the event of a change of control.