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 2014, 2013 and 2012 was approximately $1.0 million, $0.9 million and $0.9 million, respectively, and sublease income was approximately $0.5 million, $0.5 million and $0.5 million. Cumulative future minimum sublease income under noncancelable operating subleases totals approximately $0.3 million and will be paid through the lease ending in 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:
2015	$	1,052,662
2016	941,247
2017	232,964
2018	78,852
2019 and thereafter	—
Total future minimum lease payments	$	2,305,725