XML 34 R21.htm IDEA: XBRL DOCUMENT v3.5.0.2
Commitments and Contingencies
9 Months Ended
Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]  
Commitments and Contingencies

(14) Commitments and Contingencies

(a) Leases

The Company leases office space in Pasadena, California; San Francisco, California; Burlington, Massachusetts; Colchester, England; Windsor, England and Beijing, China under operating leases and recognizes escalating rent expense on a straight-line basis over the expected lease term.

As of September 30, 2016, future minimum lease payments under non-cancelable operating leases are as follows (in thousands):

 

 

 

Amounts

 

2016 (for the remaining 3 months)

 

$

384

 

2017

 

 

1,101

 

2018

 

 

321

 

2019

 

 

54

 

2020

 

 

35

 

Total minimum lease payments

 

$

1,895

 

 

Future minimum operating lease payments have been reduced by future minimum sublease income of $0.2 million.

(b) Rent

Rent expense was $0.4 million and $1.2 million, respectively, for the three and nine months ended September 30, 2016, and $0.5 million and $1.3 million, respectively, for the three and nine months ended September 30, 2015.

(c) Litigation

In the normal course of business, the Company has been subjected to various unasserted claims. The Company does not believe these will have a material adverse impact to the financial statements.

(d) Employee Contracts

The Company has entered into employment contracts with certain of the Company’s executive officers which provide for at-will employment. However, under the provisions of the contracts, the Company would incur severance obligations of up to twelve months of the executive’s annual base salary for certain events, such as involuntary terminations.