
	TOTAL		LESS THAN ONE YEAR		1-3 YEARS		3-5 YEARS		MORE THAN 5 YEARS
Milestone payment ⁽¹⁾	$	2,160	$	2,160	$	—	$	—	$	—
Operating lease obligations ⁽²⁾		35		35		—		—		—

	$	2,195	$	2,195	$	—	$	—	$	—

Under the Asset Purchase Agreement dated August 19, 2009 between the Company and Biolipox AB, upon the commitment of financial resources by our Board of Directors to advance AQX-1125 into a Phase 3 trial, a CAD $3 million milestone payment will be due to Biolipox AB. The dollar amounts shown in these columns reflect the US$ equivalent of the obligations. The amounts were converted to U.S. dollars from CAD dollars using the December 31, 2015 daily noon exchange rate of US$0.72.

AQXP Canada has a lease agreement for office space which commenced on January 1, 2014 and expires March 31, 2016. The dollar amounts shown in these columns reflect the US$ equivalent of the obligations. The amounts were converted to U.S. dollars from CAD dollars using the December 31, 2015 daily noon exchange rate of US$0.72.

On January 1, 2016, the Company entered into a lease agreement for approximately 3,520 square feet of office space in San Bruno, California, that expires on December 31, 2018, with the option to extend the lease to December 31, 2021. The Company will be obligated to pay approximately $154 in annual basic rent for the first year, which shall increase to $159 in the second year and $164 in the third year. In addition to the basic rent, the Company will be obligated to pay for taxes, operating costs, utilities, additional services and other amounts. The operating lease obligation related to this office lease agreement is not included in the table above as the agreement was signed after December 31, 2015.

On February 5, 2016, the Company signed a lease agreement to renew and expand the Canadian office space to approximately 10,946 square feet which is effective November 1, 2016 and expires October 31, 2021, with the option to extend the lease to October 31, 2026. The Company will be obligated to pay approximately CAD $252 in annual basic rent for each of the first two years, which shall increase to approximately CAD $263 for the third year and CAD $274 for each of the fourth and fifth years. In addition to the basic rent, the Company will be obligated to pay for taxes, operating costs, utilities, additional services and other amounts. The operating lease obligation related to this office lease agreement is not included in the table above as the agreement was signed after December 31, 2015.