Common use of COMMITMENTS AND CONTINGENCIES Clause in Contracts

COMMITMENTS AND CONTINGENCIES. Corel rents office premises and sponsors various sporting events and venues. At November 30, 2003, the minimum unaccrued commitments under long-term agreements, are as follows: LEASES SPONSORSHIP TOTAL ------ ----------- ------- 2004 $3,351 $ 1,090 $ 4,441 2005 1,745 1,123 2,868 2006 1,014 1,157 2,171 2007 542 1,191 1,733 2008 96 1,227 1,323 2009 and thereafter 431 12,839 13,270 ------ ------- ------- $7,179 $18,627 $25,806 ====== ======= ======= Corel is a party to a number of additional claims arising in the ordinary course of business relating to employment, intellectual property and other matters. Based on its review of the individual matters, Corel believes that such claims, individually, will not have a material adverse effect on its business, financial position or results of operations but, in the aggregate, may have a material adverse effect on its business, financial position or results of operations. Such possible effect cannot be reasonably estimated at this time.