Juno 2013 Annual Report Download - page 74

Table of Contents
Commitments under letters of credit at December 31, 2013 were scheduled to expire as follows (in thousands):
Letters of credit are maintained pursuant to certain of our lease arrangements and contractual obligations. The letters of credit remain in effect at
varying levels through the terms of the related agreements.
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In the ordinary course of business, we may provide indemnifications of varying scope and terms to customers, vendors, lessors, sureties and
insurance companies, business partners, and other parties with respect to certain matters, including, but not limited to, losses arising out of our breach of
such agreements, services to be provided by us, or from intellectual property infringement claims made by third parties. In addition, we have entered
into indemnification agreements with our directors and certain of our officers and employees that will require us, among other things, to indemnify them
against certain liabilities that may arise by reason of their status or service as directors, officers or employees. We have also agreed to indemnify certain
former officers, directors and employees of acquired companies in connection with the acquisition of such companies. We maintain director and officer
insurance, which may cover certain liabilities, including those arising from our obligation to indemnify our directors and certain of our officers and
employees, and former officers, directors and employees of acquired companies, in certain circumstances.
It is not possible to determine the maximum potential amount of exposure under these indemnification agreements due to the limited history of
prior indemnification claims and the unique facts and circumstances involved in each particular agreement. Such indemnification agreements may not be
subject to maximum loss clauses.
In connection with the termination of the employment of certain executive officers and, in certain cases, their post-termination consulting
arrangements, we have cash obligations of approximately $1.1 million, which will be paid in full by the first quarter of 2015, and we have accelerated or
will accelerate, as the case may be, the vesting of approximately 143,000 restricted stock units and 52,000 stock options in the first half of 2014. In
addition, we paid $1.1 million to these executive officers in connection with their 2013 annual bonuses.
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At December 31, 2013, we did not have any off-balance sheet arrangements (as defined in Item 303(a)(4)(ii) of Regulation S-K) that have, or are
reasonably likely to have, a current or future material effect on our consolidated financial condition, results of operations, liquidity, capital expenditures,
or capital resources.

 —Effective January 1, 2013, we adopted the Financial
Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") No. 2013-02, 
, as codified in ASC 220. The amendments in this update require an entity to provide information about the amounts
reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the
statement where net
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Letters of credit $ 162 $ 162