Exhibit 10.4 


 


English Summary of the Lease Agreement dated
as of January 18, 2015 by and between Mishorim Kiriyat Hamada Rehovot Ltd. (the “Landlord”) and Todos Medical
Ltd. (the “Company”) (the “Lease Agreement”).


 


	 	•	 	Subject Matter
    of the Lease Agreement: Unprotected Lease of Office Space and Parking Spaces for the purpose of conducting business in
    the Hi-Tech field. Premises are located in Rehovot, Israel. 


 


	 	•	 	Term of Original
    Lease: 


 


	 	•	 	The term of the Lease is twelve (12) months
    commencing on February 1, 2015 and ending January 31, 2016 (the "Original Lease"). Under the Original Lease,
    the Company was given an option to extend the term of the lease, by a twenty four (24)-month period (subject to certain prior
    notices to the Landlord). The Company exercised the option. The Landlord may terminate the Lease Agreement for any material
    breach not cured within the time specified in the Lease Agreement, transfer of the rights under the Lease Agreement by the
    Company, use of the Property for any purpose other than permitted under the Lease Agreement or liquidation/insolvency of the
    Company.


 


	 	•	 	The term of the lease of all parking
    spaces leased by the Company from time to time is linked to the lease term of the main premises. 


 


	 	•	 	Premises
    Covered by the Lease Agreement: 


 


	 	•	 	Property
    – Under the Lease, the Company leased 108 square meters (gross).


 


	 	•	 	Parking
    – The Company leases two (2) parking spaces. 


 


	 	•	 	Monthly Rental
    Fees: 


 


	 	•	 	Under
    the Lease, during the original lease term the Company was to pay monthly rental fees of NIS 6,780 (for the Property, parking
    spaces and management fees) During the option period, the monthly rental fee increased to NIS 7,000. Rental fees are linked
    to the Consumer Price Index published by the Central Bureau of Statistics in Israel (the “Index”) with
    the base Index as published on February 15, 2015 provided that the rental fees shall not be less than the nominal
    values as paid during the original term of lease.


 


	 	•	 	Guarantees
    – 


 


	 	•	 	An autonomous unconditioned bank
    guarantee in the sum of NIS 20,000, linked to the Index.  


  


	 	•	 	Other Terms
    under the Lease Agreement: 


 


	 	•	 	The Company has a right to sub-lease
    the premises (or any portion thereof), subject to the Landlord’s prior written consent (not to be unreasonably withheld).
    


 


	 	•	 	Similar to other
    lease agreements, the Company agreed to assume responsibility for all fees, municipal or local taxes, utility payments, etc.;
    provided that the Landlord shall bear any and all taxes and fees, which by their nature are levied on property
    owners. 


 


	 	•	 	Similar to other lease agreements,
    each party has agreed to assume responsibility for any damage, injury or loss (bodily or otherwise) resulting from any act,
    omission or negligence on its part, and with respect of the Company – relating to its use of the property being leased.
    


 


	 	•	 	The Lease Agreement further includes
    terms concerning the following non-material matters: 


 


	 	•	 	Renovations
    – Generally, the Company may not perform any major renovations on the premises without prior written authorization
    from the Landlord. 


 


	 	•	 	Late Rental
    Fees – In the event the Company fails to pay any of its rental fees on time, the amount overdue accrues interest
    based on Bank Leumi LeIsrael Ltd.’s standard rate for unauthorized overdrafts starting from the sixth day following
    the payment due date until the actual date of payment. 


 


	 	•	 	Termination
    of the lease, vacating of premises and fixtures – Upon the termination of the Lease Agreement, the Company
    shall vacate the premises from any person or object which is not owned by the Landlord and return it to the Landlord in an
    undamaged, usable state. The Company has sole discretion to remove any fixtures, provided such removal does not damage the
    premises and provided that the Landlord will have no duty to compensate the Company for fixtures which it decides to leave.