![]() Options issued under the Amended 2009 Stock Plan are generally for periods not to exceed 10 years. In July 2013, the Board of Directors adopted and approved the Company’s Amended and Restated 2009 Equity Incentive Plan (Amended 2009 EIP), which provides for the issuance of incentive and nonstatutory options, restricted stock units, restricted stock awards and stock appreciation rights to qualified employees, directors, and consultants of the Company. Rent expense for the non-cancelable operating facility leases totaled $718,000 and $415,000 for the six months ended June 30, 20. The Company leases its corporate office and certain corporate provided apartments under various non-cancelable operating leases with various expiration dates through 2024. The Company does not assume renewals in its determination of the lease term unless the renewals are deemed to be reasonably assured at lease inception. The lease term begins on the date of initial possession of the leased property for purposes of recognizing lease expense on a straight-line basis over the term of the lease. Rent holidays, rent escalation provisions and tenant improvement allowances are considered in determining the straight-line rent expense to be recorded over the lease term. Certain of the operating lease agreements contain rent holidays, rent escalation and tenant improvement allowance provisions. The Company leases office space under noncancelable operating leases with various expiration dates through 2024. The Company is currently evaluating the potential impact of the adoption of this guidance on its financial statements. This update may be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this update recognized at the date of initial application. This update is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2016, for public entities and no later than for annual reporting periods, and interim periods within those years, beginning after December 15, 2017, for non-public entities. An entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This update provides a five-step analysis of transactions to determine when and how revenue is recognized. In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606).
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