Leases

The Company is obligated under long-term real estate leases for corporate office space expiring in October 2016. In addition, the research lab space at CET, under an agreement amended in July 2012, is leased through 2018, with an option to extend the lease through April 2028. The Company also subleases a portion of the space under these leases. Rent expense is recognized over the expected term of the lease, including renewal option periods, if applicable, on a straight-line basis. Rent expense for 2012, 2011 and 2010 was approximately $0.9 million, $0.8 million and $0.6 million, respectively, and sublease income was approximately $0.5 million, $0.4 million and $0.3 million. Future minimum sublease income under noncancelable operating subleases is approximately $0.6 million through October 2016. Future minimum lease payments under noncancelable operating leases (with initial or remaining lease terms in excess of one year) are as follows:



Year ending December 31:
2013	$	953,440
2014	1,022,019
2015	1,052,662
2016	941,247
2017 and thereafter	311,816
Total future minimum lease payments	$	4,281,184