Operating leases – The Company leases office space under non-cancelable operating leases that expire through June 2031. Rent expense is recognized on a straight-line basis over the lease term. Rent expense, net of sublease income, was $5.3 million, $2.3 million and $1.5 million during the years ended June 30, 2020, 2019 and 2018, respectively.

Future minimum lease payments under non-cancelable operating leases as of June 30, 2020 are as follows (in thousands):

Fiscal years ending June 30:	Amount
2021	$	1,192
2022		7,029
2023		7,244
2024		7,458
2025		7,504
Thereafter		46,607
Total	$	77,034

Other agreements – The Company has a ten-year strategic partnership agreement with a third party to market and promote the Company’s online bill payment products that expires in June 2027. Expense recognized under this agreement, which was included in sales and marketing expenses, was $2.0 million, $2.3 million and $2.3 million during the years ended June 30, 2020, 2019, and 2018, respectively.

In May 2020, the Company expanded its service agreement with an existing financial institution partner for a period of 5 years. Under this agreement, the Company agreed to pay this partner a total of $12.0 million, payable ratably over six months from June 2020, in order to fund the partner’s implementation activities before the payment services offering becomes available for its customers. As of June 30, 2020, the amount payable to this partner was $10.0 million.

The Company purchased a software license and maintenance and support services from a vendor that are payable on an installment basis through August 2021 under a non-cancellable service agreement.

Future payments under these other agreements as of June 30, 2020 are as follows (in thousands).

Fiscal years ending June 30:	Amount
2021	$	13,000
2022		2,000
2023		2,000
2024		2,000
2025		2,000
Thereafter		3,500
Total	$	24,500

Litigation – From time to time, the Company is involved in lawsuits, claims, investigations, and proceedings that arise in the ordinary course of business. The Company records a provision for a liability when management believes that it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. As of June 30, 2020 and 2019, the Company’s reserve for litigation is immaterial. The Company reviews these provisions periodically and adjusts these provisions to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case. Litigation is inherently unpredictable.