Commitments and Contingencies

6 Months Ended

Jun. 30, 2015

Commitments and Contingencies

11. Commitments and Contingencies

In March 2014, the Company entered into an amendment of its existing lease to expand the rented space from 55,694 to 75,594 square feet at 41 Seyon Street, Waltham, Massachusetts. Pursuant to the terms of the amended lease, commencing on August 1, 2014 the Company began leasing an additional 19,900 square feet (the “Expansion Space”) for a period of eight years and one month. The Expansion Space is a part of the Company’s corporate headquarters.

The amended lease provides for additional rent expense of approximately $361,000 on an annualized basis. Future minimum rental commitments under the amended lease as of June 30, 2015 are as follows:

	Minimum Rental Commitments
2015	$	1,178,000
2016		2,355,000
2017		1,895,000
2018		1,435,000
2019		1,371,000
Thereafter		3,728,000