13 Leases

The Company leases various office space and laboratory space under the following operating lease agreements:

Lexington, Massachusetts / United States

In July 2013, uniQure entered into a lease for a facility in Lexington, Massachusetts, United States. The term of the lease commenced in November 2013 and was set for 10 years and is non-cancellable. The lease for this facility terminates in 2024, and subject to the provisions of the lease, may be renewed for two subsequent five-year terms. The lease provides for annual minimum increases in rent, based on a consumer price index.

Amsterdam / The Netherlands

In March 2016, the Company entered into a 16-year lease for a facility in Amsterdam, the Netherlands, and amended this agreement in June 2016. The Company consolidated its three Amsterdam sites into the new site at the end of May 2017. The lease for this facility terminates in 2032, with an option to extend in increments of five-year periods. The lease contract provides for annual minimum increases in rent based on a consumer price index.

On December 1, 2017, the Company entered into an agreement to sub-lease three of the seven floors of its Amsterdam facility for a ten-year term ending on December 31, 2027, with an option for the sub-lessee to extend until December 31, 2031. The minimum rentals to be received until December 31, 2027 amount to $11.1 million as of March 31, 2018.

As of March 31, 2018, aggregate minimum lease payments for the calendar years and lease incentives received were as follows:


	Lexington		Amsterdam		Total
	in thousands
2018 (nine months remaining)	$	1,396	$	1,559	$	2,955
2019		1,903		2,079		3,982
2020		1,956		2,079		4,035
2021		2,009		2,079		4,088
2022 and beyond		4,890		20,786		25,676
Total minimum lease payments	$	12,154	$	28,582	$	40,736

Deferred rent related to lease incentives-non current	$	4,637	$	4,329	$	8,966
Deferred rent related to lease incentives-current		750		336		1,086

Rent expense is calculated on a straight-line basis over the term of the leases and considers the lease incentives received. Aggregate rent expense was as follows:


	Three months ended March 31,
	2018		2017
	in thousands
Rent expense-Lexington	$	278	$	278
Rent expense-Amsterdam		429		748
Total rent expense	$	707	$	1,026