notes to consolidated financial statements of annual compensation was made .
for the years ended december 31 , 2009 , 2008 and , 2007 , we made matching contributions of approxi- mately $ 450000 , $ 503000 and $ 457000 , respectively .
note 17 / commitments and contingencies we and our operating partnership are not presently involved in any mate- rial litigation nor , to our knowledge , is any material litigation threatened against us or our properties , other than routine litigation arising in the ordinary course of business .
management believes the costs , if any , incurred by us and our operating partnership related to this litigation will not materially affect our financial position , operating results or liquidity .
we have entered into employment agreements with certain executives , which expire between june 2010 and january 2013 .
the minimum cash-based compensation , including base salary and guaran- teed bonus payments , associated with these employment agreements totals approximately $ 7.8 million for 2010 .
in march 1998 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue .
the operating sub-leasehold position required annual ground lease payments totaling $ 6.0 million and sub- leasehold position payments totaling $ 1.1 million ( excluding an operating sub-lease position purchased january 1999 ) .
in june 2007 , we renewed and extended the maturity date of the ground lease at 420 lexington avenue through december 31 , 2029 , with an option for further exten- sion through 2080 .
ground lease rent payments through 2029 will total approximately $ 10.9 million per year .
thereafter , the ground lease will be subject to a revaluation by the parties thereto .
in june 2009 , we acquired an operating sub-leasehold posi- tion at 420 lexington avenue for approximately $ 7.7 million .
these sub-leasehold positions were scheduled to mature in december 2029 .
in october 2009 , we acquired the remaining sub-leasehold position for $ 7.6 million .
the property located at 711 third avenue operates under an operating sub-lease , which expires in 2083 .
under the sub-lease , we are responsible for ground rent payments of $ 1.55 million annually through july 2011 on the 50% ( 50 % ) portion of the fee we do not own .
the ground rent is reset after july 2011 based on the estimated fair market value of the property .
we have an option to buy out the sub-lease at a fixed future date .
the property located at 461 fifth avenue operates under a ground lease ( approximately $ 2.1 million annually ) with a term expiration date of 2027 and with two options to renew for an additional 21 years each , followed by a third option for 15 years .
we also have an option to purchase the ground lease for a fixed price on a specific date .
the property located at 625 madison avenue operates under a ground lease ( approximately $ 4.6 million annually ) with a term expiration date of 2022 and with two options to renew for an additional 23 years .
the property located at 1185 avenue of the americas oper- ates under a ground lease ( approximately $ 8.5 million in 2010 and $ 6.9 million annually thereafter ) with a term expiration of 2020 and with an option to renew for an additional 23 years .
in april 1988 , the sl green predecessor entered into a lease agreement for the property at 673 first avenue , which has been capitalized for financial statement purposes .
land was estimated to be approximately 70% ( 70 % ) of the fair market value of the property .
the portion of the lease attributed to land is classified as an operating lease and the remainder as a capital lease .
the initial lease term is 49 years with an option for an additional 26 years .
beginning in lease years 11 and 25 , the lessor is entitled to additional rent as defined by the lease agreement .
we continue to lease the 673 first avenue property , which has been classified as a capital lease with a cost basis of $ 12.2 million and cumulative amortization of $ 5.5 million and $ 5.2 million at december 31 , 2009 and 2008 , respectively .
the following is a schedule of future minimum lease payments under capital leases and noncancellable operating leases with initial terms in excess of one year as of december 31 , 2009 ( in thousands ) : non-cancellable december 31 , capital lease operating leases .

december 31,
capital lease
non-cancellable operating leases
2010
$ 1451
$ 31347
2011
1555
28929
2012
1555
28179
2013
1555
28179
2014
1555
28179
thereafter
45649
580600
total minimum lease payments
53320
$ 725413
less amount representing interest
-36437 ( 36437 )
present value of net minimum lease payments
$ 16883

note 18 / financial instruments : derivatives and hedging we recognize all derivatives on the balance sheet at fair value .
derivatives that are not hedges must be adjusted to fair value through income .
if a derivative is a hedge , depending on the nature of the hedge , changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset , liability , or firm commitment through earn- ings , or recognized in other comprehensive income until the hedged item is recognized in earnings .
the ineffective portion of a derivative 2019s change in fair value will be immediately recognized in earnings .
reported net income and stockholders 2019 equity may increase or decrease prospectively , depending on future levels of interest rates and other variables affecting the fair values of derivative instruments and hedged items , but will have no effect on cash flows. .

Question: in 2009 what was the percent of the capital leases of the total future minimum lease payments that were due in 2012
Answer: 5.2%

Question: assuming all options are exercised on 625 madison avenue , what year will the current agreement expire?
Answer: 2068