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&lt;p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"&gt;&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;&lt;b&gt;Note 9. Commitments and
Contingencies&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"&gt;
&lt;font style="FONT-FAMILY: Times New Roman" size="2"&gt;In October
2005, Opexa entered into a ten-year lease for its office and
research facilities. The facility including the property is leased
for a term of ten years with two options for an additional five
years each at the then prevailing market rate. Future minimum lease
payments under the non-cancellable operating lease are $157,896 for
2013, $157,896 for 2014 and $118,422 for 2015. Rent expense in the
consolidated statements of expenses was approximately $136,000 for
each of the years ended December&amp;#xA0;31, 2012 and 2011.&lt;/font&gt;&lt;/p&gt;
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