71 ITEM 2. PROPERTIES Our corporate offi f ces are located in Palo Alto, Califor f nia, where we lease approximately 155,000 square feet of offi f ce, research and development, engineering and labor a atory r space pursuant to lease agreements that commenced in June 2020. The initial lease term for 1200 Page Mill Road is 6.5 years, with an option to extend the lease term for a period of 6.5 years. The initial lease term for 1250 Page Mill Road is 13 years, with two options to extend the lease term for a period of 5 years each. Our corporate offi f ces in Palo Alto, California house subs u tantially all of our personnel. In April 2020, we entered into a lease agreement for offi f ce and labor a atory r space at Rottenstrasse 5 in Visp, Switzerland. The space is approximately 1,000 square meters. The initial lease term is 5 years, with automatic renewals every r 5 years for a maximum lease term of 15 years. ITEM 3. LEGAL PROCEEDINGS We are not a party to any material legal proceedings at this time. From time to time, we may be subj u ect to various legal proceedings and claims that arise in the ordinary course of our business activities. Although the results of litigation and claims cannot be predicted with certainty, we do not believe we are party to any claim or litigation the outcome of which, if determined adversely to us, would individually or in the aggregate be reasonabl a y expected to have a material adverse effe f ct on our business. Regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors. ITEM 4. MINE SAFETY DISCLOSURES None.