SUMMARY OF MATERIAL TERMS OF THE LEASE AGREEMENT FOR
PREMISES IN TEL AVIV, ISRAEL
o The leased premises are at 00 Xx Xxxxxx Xxxxxx, Xxx Xxxx 00000 Xxxxxx.
o The initial lease agreement was entered into on February 12, 1998 by and
among ClickSoftware Technologies Ltd. and Aradin Ltd., Larga Ltd., T.N.R
properties Ltd., Xxxxxx Ltd., as lessors. The lease was amended three
times thereafter.
o The commencement date of the lease is June 1, 1998, and the lease expires
on May 31, 2006. ClickSoftware has the option to extend the term of the
lease by two periods of one year each.
o The total area leased by ClickSoftware is 1843 square meters, of which
350 square meters was subleased.
o The average price per square meter per month is US$8.89 (payable in New
Israeli Shekels) per square meter per month. The company also leases 60
parking spaces for $90 per month. The current monthly lease is US$21,634.
The lease amounts are paid in quarterly installments.
o ClickSoftware has undertaken to compensate and indemnify the lessor in
case of any damage or expense they might incur as a result of the lease.
ClickSoftware is required to insure the leased premises.
o ClickSoftware is required to submit the lessor a bank guarantee and
promissory note against its obligations pursuant to the lease in the
amount of $60,000. ClickSoftware is obligated to pay interest for fees
not paid when due.
