NOTE 7 - OPERATING LEASE COMMITMENTS

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

OPERATING LEASE COMMITMENTS

We have commitments under non-cancelable operating leases and other agreements, primarily for factory and office space, with initial or remaining terms of one year or more as follows:

For the years ending December 31:

	Operating Leases
(in thousands)
2019	$940
2020	938
2021	885
2022	344
2023	10
Thereafter	-
Total	$3,117

During the third quarter of 2017, we amended our lease agreement for the Redmond, Washington headquarters facility, extending the lease to July 31, 2022, waiving a potential space give back provision and receiving lease inducement incentives.  Previously on June 8, 2015 the lease had been amended to relocate our headquarters to a nearby building and lower the square footage to approximately 20,460.  The lease base annual rental payments during 2018 and 2017 were approximately $341,000 and $303,000, respectively.

In addition to the Redmond facility, approximately 24,000 square feet is leased at two foreign locations, including our sales, service, operations and engineering office located in Shanghai, China, and our German sales, service and engineering office located near Munich, Germany.

We signed a lease agreement effective November 1, 2015 that extends through October 31, 2021 for a facility located in Shanghai, China.  This lease is for approximately 19,400 square feet.  The lease base annual rental payments during 2018 and 2017 were approximately $288,000 and $276,000, respectively.

During the fourth quarter of 2016, we signed a lease agreement for a new facility located near Munich, Germany which was effective March 1, 2017 and extends through February 28, 2022.  This lease is for approximately 4,895 square feet.  The lease base annual rental payments during 2018 and 2017 were approximately $67,000 and $64,000, respectively.