Please bare in mind it is not good to shrink the database over and over (transaction log is fine), so when doing the incremential steps, do the below:
- Change event/task parameter
- Run stored procedure as above
- Run full backup
- Run Trans backup
- Shrink TRANS log, and not database
Repeat steps until you get to the number you are happy with for event/task, and THEN run your Shrink on the DB at the end. (I would recommend dropping in increments of 20/30 to stop your transaction log from filling up)