Commitments and Contingencies

12 Months Ended

Jun. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

The Company is obligated under non-cancelable operating leases for equipment and office space. Future minimum payments under the operating leases are as follows (in thousands):



Year Ended June 30,
2017	$	509
2018	582
2019	515
2020	330
2021	357
Thereafter	557
Total	$	2,850

Rent expense was approximately $0.4 million and $0.3 million for each of the years ended June 30, 2016 and 2015, respectively.

Astrotech Corporation presently subleases office space consisting of approximately 6,000 square feet in Austin, Texas. The lease began in July 2016 and expires in January 2017 with no provision to renew nor extend the sublease.

Astrotech Corporation has signed an agreement to lease office space consisting of approximately 5,000 square feet in Austin, Texas. The lease is to begin in November 2016 and expires in December 2023 with a provision to renew and extend the lease for the entire premise for one renewal term of five years. Astrotech must, in writing, advise the landlord of its intention to renew the lease at least eight months before the expiration of its current lease in order to renew the lease.

Astral presently subleases a premise consisting of approximately 4,000 square feet in Austin, Texas. The lease began in July 2015 and expires in May 2018 with no provision to renew nor extend the lease.

1^st Detect presently leases two adjoining premises consisting of approximately 17,000 and 9,000 square feet in the city of Webster, Texas. The original lease began in May 2013 and was to expire in June 2018; these dates were amended in October 2014 with the amended lease beginning February 1, 2015, and expiring April 30, 2020, with provisions to renew and extend the lease for the entire premises, but not less than the entire premises, for two renewal terms of five years each. 1^st Detect must in writing advise the landlord of its intention to renew the lease at least six months before the expiration of its current lease in order to renew the lease.

Employment Contracts

The Company has entered into an employment contract with a key executive. Generally, certain amounts may become payable in the event the Company terminates the executive’s employment.

Legal Proceedings

The Company is not party to, nor are its properties the subject of, any material pending legal proceedings, other than as set forth below:

Astrotech was named as a party to a suit filed in the Circuit Court of the Eighteenth Judicial Circuit for Brevard County, Florida. This was an action for foreclosure of certain real estate and for debt. The Company was named as a party because it held an inferior lien against the property at issue and had to be named in the foreclosure action. No monetary relief was requested from Astrotech at the time. In July 2014 the Company received a lump sum payment of $50 thousand, less legal fees, along with a release of liability in exchange for a release of its inferior mortgage. In October 2014 the underlying lawsuit was voluntarily dismissed and the case was closed.