Lease for Office Space at Jerusalem Technology Park, Jerusalem, Israel Summary of Key Terms
Lease
for Office Space at Jerusalem Technology Park, Jerusalem,
Israel
Summary
of Key Terms
| 1. |
Landlord:
Jerusalem Technology Park Ltd.
|
| 2. |
Tenant:
GuruNet Israel Ltd.
|
| 3. |
Space
Description:
Entire 7th
floor of the tower (building 23) in the Jerusalem Technology Park (Total
1,055 square meters)
|
| 4. |
Term:
5
years; option to extend for an additional 5 year
period
|
| 5. |
Commencement:
September 15, 2005
|
| 6. |
Rent:
1st
year - 50,802 New Israeli Shekels (“NIS”) (US$11,185 based on the exchange
rate on July 15, 2005)
2nd-5th year- NIS 69,483 (US$15,298 based on the exchange rate on July 15, 2005) The Rent payments are linked to the Israeli Consumer Price Index |
| 7. |
Bank
Guarantee:
approximately $87,000
|
| 8. |
Right
to Sublease:
available to Tenant, under certain
circumstances.
|
| 9. |
Early
termination by Tenant:
Under certain circumstances, Xxxxxx has the option to terminate the
lease
after 3 years subject to an early termination fee equal to approximately
$45,000
|
| 10. |
Parking:
1st
-
2nd
year- 45 free parking spots
3rd -5th year- 21 free parking spots; $60 for each additional parking spot |
