EXHIBIT 4.1(e)
Summary of Lease Agreement
The leased premises are at Herzeliya Business Park, Building D "Block
6518/367", 0 Xxxxxx Xx. 00000, Xxxxxxxxx Pituach, Israel.
The lease agreement was signed on July 16, 1998 between VocalTec
Communications Ltd. and Gemel Tsu'a Lehashka'ot Ltd. the lessor and owner
of the leased premises.
Commencement Date of the lease is July 20, 1998, and the lease expires on
December 31, 2004.
The total area leased by VocalTec is 5,573 squared meters.
The price per square meter per month is US $17.25 (payable in New Israeli
Shekels) for the office areas, with the exception of the offices on the
ground floor, which are priced at US $15 per meter-squared per month. The
warehouse area is leased at US $11.5 per meter-squared per month. Parking
fees are US $ 125 per month, per parking space, for 180 spaces and
prevailing parking fees for up to 35 additional spaces. Management fees for
the warehouse areas are US $2.5 per month per meter-squared. For the office
areas management fees are paid on a cost-plus basis, and pro-rated in
accordance with percentage of VocalTec's leased areas out of the total
areas leased in the building.
The current monthly lease is US $33,000, with an additional amount of US
$17,250 expected starting January 1, 2002 for additional space. The lease
amounts are paid in quarterly installments.
VocalTec has undertaken to compensate and indemnify the lessor in case of
any damage or expense they might incur as a result of the lease. VocalTec
is require to insure the leased premises. VocalTec is required to submit
the lessor a bank guarantee and promissory note against its obligations
pursuant to the lease. VocalTec is obligated to pay the lessor, in
additional to any other amounts due, liquidated damages equal to six times
the last monthly fees, for any breach of contract causing lessor to
terminate the lease agreement. VocalTec is obligated to pay interest for
fees not paid when due.
