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Subsequent Events
3 Months Ended
Apr. 01, 2017
Subsequent Events  
Subsequent Events

17. Subsequent Events

        On April 12, 2017, CRA announced that Robert A. Whitman was appointed to CRA's Board of Directors effective May 3, 2017.

        On April 21, 2017, CRA entered into the first amendment of the New York, New York lease for an additional 16,587 square feet of office space. The lease for the additional space will commence on April 15, 2017 and is set to expire on April 30, 2027. The annual base rent for the additional space will be approximately $1.2 million per year subject to an increase of approximately 8% after five years. The amendment includes a base rent abatement of approximately $1.2 million as well as a tenant improvement allowance of approximately $1.4 million.

        On May 3, 2017, CRA's Board of Directors declared a quarterly cash dividend of $0.14 per share of CRA's common stock, payable on June 16, 2017 to shareholders of record as of May 29, 2017.

        On May 3, 2017, CRA's Board of Directors authorized the repurchase of up to $20.0 million of CRA's common stock, as a result, the Company's total available authorization for share repurchases as of that date was $29.0 million.

        On May 8, 2017, CRA entered into the first amendment of the Chicago, Illinois lease to extend the term of the currently leased space of 41,642 square feet, for an additional 10 years ending on July 31, 2028. Beginning on August 1, 2018, the annual base rent will be approximately $1.1 million per year, subject to annual increases of approximately 2.5% per year. The amendment includes a base rent abatement of approximately $0.9 million as well as a tenant improvement allowance of approximately $2.3 million.