Document:

Exhibit 10.10

  

   

  

  
    
      	
               

            

    

     

    

     

    

    VZMT RECEIVABLES TRANSFER AGREEMENT

    

    

    among

    

    

    VERIZON MASTER TRUST,

      as Transferor

    

    

    CELLCO PARTNERSHIP d/b/a VERIZON WIRELESS,

      as Servicer

    

    

    and

    

    

    VERIZON ABS LLC,

      as Depositor

    

    

    

    

    

    

    

    

    Dated as of November 8, 2021

    

    

    
       

      

       

      

      
        
          	
                   

                

        

         

        

         

      

    

    

    

    

    

    

    

    
      
        

    

    TABLE OF CONTENTS

    

    

    Page

     
      	
              ARTICLE I

            	
              USAGE AND DEFINITIONS

            	
              1

            
	
              Section 1.1.

            	
              Usage and Definitions

            	
              1

            
	
              ARTICLE II

            	
              TRANSFER OF VZMT TRANSFERRED PROPERTY

            	
              1

            
	
              Section 2.1.

            	
              Transfers and Absolute Assignments of VZMT Transferred Property

            	
              1

            
	
              Section 2.2.

            	
              Acquisition of Receivables

            	
              3

            
	
              Section 2.3.

            	
              Acknowledgement of Further Assignments

            	
              3

            
	
              Section 2.4.

            	
              Savings Clause

            	
              3

            
	 	 	 
	
              ARTICLE III

            	
              REPRESENTATIONS AND WARRANTIES

            	
              3

            
	
              Section 3.1.

            	
              VZMT Representations and Warranties

            	
              3

            
	
              Section 3.2.

            	
              VZMT Representations and Warranties About Pools of

            	 
	
              Section 3.3.

            	
              Representations and Warranties About Each Receivable

            	
              6

            
	
              Section 3.4.

            	
              Servicer Acquisition of Receivables for Breach of Representations

            	
              8

            
	
              Section 3.5.

            	
              Depositor’s Representations and Warranties

            	
              9

            
	
              Section 3.6.

            	
              Servicer’s Representations and Warranties

            	
              10

            
	 	 	 
	
              ARTICLE IV

            	
              VZMT’S AGREEMENTS

            	
              12

            
	
              Section 4.1.

            	
              Financing Statements

            	
              12

            
	
              Section 4.2.

            	
              No Transfer or Lien by VZMT

            	
              12

            
	
              Section 4.3.

            	
              Expenses

            	
              12

            
	
              Section 4.4.

            	
              VZMT Records

            	
              12

            
	
              Section 4.5.

            	
              Review of VZMT’s Records

            	
              13

            
	
              Section 4.6.

            	
              Review of Servicer’s Records

            	
              13

            
	
              Section 4.7.

            	
              Acquisition of Bankruptcy Surrendered Receivables

            	
              13

            
	 	 	 
	
              ARTICLE V

            	
              OTHER AGREEMENTS

            	
              14

            
	
              Section 5.1.

            	
              No Petition

            	
              14

            
	
              Section 5.2.

            	
              Limited Recourse

            	
              14

            
	
              Section 5.3.

            	
              Termination

            	
              14

            
	
              Section 5.4.

            	
              Merger, Consolidation, Succession or Assignment

            	
              14

            
	 	 	 
	
              ARTICLE VI

            	
              MISCELLANEOUS

            	
              14

            
	
              Section 6.1.

            	
              Amendments

            	
              14

            
	
              Section 6.2.

            	
              Benefit of Agreement; Third-Party Beneficiaries

            	
              16

            
	
              Section 6.3.

            	
              Notices

            	
              16

            
	
              Section 6.4.

            	
              GOVERNING LAW

            	
              16

            
	
              Section 6.5.

            	
              Submission to Jurisdiction

            	
              16

            
	
              Section 6.6.

            	
              WAIVER OF JURY TRIAL

            	
              17

            
	
              Section 6.7.

            	
              No Waiver; Remedies

            	
              17

            

      

      

      
        
          
            

        

        TABLE OF CONTENTS

        (continued)

        

        Page

      

      

      

      	
              Section 6.8.

            	
              Severability

            	
              17

            
	
              Section 6.9.

            	
              Headings

            	
              17

            
	
              Section 6.10.

            	
              Counterparts

            	
              17

            
	
              Section 6.11.

            	
              Agreements of VZMT

            	
              17

            
	
              Section 6.12.

            	
              Electronic Signatures

            	
              17

            

    

    

    

    	
            SCHEDULE A

          	
            SA-1

          
	
            EXHIBIT A

          	
            EA-1

          

    

    

     

    
      
        

    

    
    VZMT RECEIVABLES TRANSFER AGREEMENT, dated as of November 8, 2021 (this “Agreement”), among VERIZON MASTER TRUST, a Delaware statutory trust (“VZMT”),
      CELLCO PARTNERSHIP d/b/a VERIZON WIRELESS, a Delaware general partnership (“Cellco”) and VERIZON ABS LLC, a Delaware limited liability company, as depositor (the “Depositor”).

     

    BACKGROUND

     

    In the normal course of its business, VZMT acquires from Verizon DPPA Master Trust and certain originators device payment plan agreements under contracts entered into
      by such originators or Verizon Wireless Services, LLC or another affiliate of such originators, as agent of each originator.

     

    In connection with a securitization transaction sponsored by Cellco in which Verizon Owner Trust 2020-B, as issuer (the “Issuer”), issued Notes secured by a
      pool of Receivables consisting of device payment plan agreements, VZMT has determined to transfer pools of Receivables and related property from time to time to the Depositor, who will subsequently transfer them to the Issuer.

     

    The parties agree as follows:

     

    ARTICLE I

      USAGE AND DEFINITIONS

     

    Section 1.1.   Usage and Definitions. 
        Capitalized terms used but not defined in this Agreement are defined in Appendix A to the Transfer and Servicing Agreement, dated as of August 12, 2020, as amended, among the Issuer, the Depositor and Cellco, as servicer (in such capacity, the “Servicer”),
        as marketing agent (in such capacity, the “Marketing Agent”) and as custodian (in such capacity, the “Custodian”).  Appendix A also contains usage rules that apply to this Agreement.  Appendix A is incorporated by reference into this
        Agreement.

     

    ARTICLE II

      TRANSFER OF VZMT TRANSFERRED PROPERTY

     

    Section 2.1.   Transfers and Absolute Assignments of VZMT Transferred Property.

     

    (a) [Reserved].

     

    (b) Transfers and Absolute Assignments of Additional Receivables.  Subject to the satisfaction of the conditions in Section 2.1(d), effective on each Acquisition Date, VZMT will transfer and absolutely assign to the
        Depositor, without recourse (other than the obligations of the Servicer with respect to such Receivables under this Agreement), all of VZMT’s right, title and interest, whether then owned or later acquired, in the related Additional Receivables
        acquired by it from time to time from various Originators and the other related VZMT Transferred Property.  The Administrator, with the assistance of VZMT, will select each pool of Additional Receivables to be transferred and assigned by VZMT and
        acquired by the Depositor (and subsequently the Issuer) on each Acquisition Date, which Receivables will be set forth in the electronic file

     

    
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    containing the Schedule of Receivables delivered on the date of the Transfer Notice for such Acquisition Date.

     

    (c) No Assumption of Obligations.  These transfers and absolute assignments do not, and are not intended to, include any obligation of VZMT, the Servicer or any Originator to the Obligors or any other Person relating to the
        Receivables and the other VZMT Transferred Property, and the Depositor does not assume any of these obligations.

     

    (d) Conditions for Transfers of Additional Receivables.  The transfers and absolute assignments of the Additional Receivables and the other related VZMT Transferred Property on each Acquisition Date will be subject to the
        satisfaction of the following conditions on or before such Acquisition Date:

     

    (i) Transfer Notice.  At least two (2) Business Days before each Acquisition Date, the Administrator shall deliver to the Depositor, the Issuer and the Indenture Trustee a Transfer Notice for the
        Additional Receivables to be transferred and absolutely assigned on that Acquisition Date, which will specify the Additional Receivables Transfer Amount, and will have delivered with it an electronic file containing the Schedule of Receivables; and

     

    (ii) VZMT’s Certifications.  VZMT, on such Acquisition Date, certifies that:

     

    	

          	(A)	
            as of such Acquisition Date, (1) VZMT is Solvent and will not become insolvent as a result of the absolute assignment of the related Additional Receivables on the Acquisition Date, (2) VZMT does not
              intend to incur or believe that it would incur debts that would be beyond VZMT’s ability to pay as the debts matured and (3) the absolute assignment of the related Additional Receivables is not made by VZMT with actual intent to hinder, delay
              or defraud any Person;

          

     

    	

          	(B)	
            VZMT’s representations and warranties in Sections 3.1 and 3.2 (solely with respect to the related Additional Receivables transferred on such Acquisition Date) will be true and correct as of the
              Acquisition Date; and

          

     

    	

          	(C)	
            VZMT has complied, or has caused the VZMT Administrator to comply, with the requirements of Section 9.7(a) of the VZMT Master Collateral Agency Agreement with respect to the release of Receivables
              from the lien of the VZMT Master Collateral Agency Agreement.

          

     

    (iii) Servicer Certifications.  The Servicer, on such Acquisition Date, certifies that each of the Servicer’s representations and warranties in Sections 3.3, solely with respect to the related Additional
        Receivables, and 3.6 will be true and correct as of such Acquisition Date.

     

    The delivery by the Administrator, on behalf of VZMT, of the Transfer Notice will be considered a certification by VZMT and the Servicer that the conditions set forth
      in this Section 2.1(d) have been satisfied or will be satisfied on the Acquisition Date.

     

    
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    Section 2.2.   Acquisition of Receivables.  In
        consideration for the Additional Receivables and the other related VZMT Transferred Property transferred by VZMT, the Depositor will (i) distribute to VZMT the Additional Receivables Cash Transfer Amount for such Additional Receivables on the
        related Acquisition Date, and (ii) make a distribution to, or at the written direction of, VZMT in an amount equal to the excess, if any, of the Additional Receivables Transfer Amount over the Additional Receivables Cash Transfer Amount for such
        Additional Receivables, in the form of an increase in the beneficial interest in the Issuer, as evidenced by the portion of the Class A Certificate allocated to VZMT, in proportion to the Additional Receivables transferred by VZMT on such
        Acquisition Date.  VZMT, on the one hand, and the Depositor, on the other hand, represents and warrants to the other that the aggregate amount set forth in clauses (i) and (ii) of the immediately preceding sentence distributed by the Depositor to
        VZMT on such Acquisition Date will equal the fair market value of the Additional Receivables and the other related VZMT Transferred Property transferred by VZMT to the Depositor on such Acquisition Date.

     

    Section 2.3.   Acknowledgement of Further
          Assignments.  VZMT acknowledges that (a) under the Transfer and Servicing Agreement, the Depositor will transfer and assign all of its right, title and interest in the VZMT Transferred Property and related property and rights to the Issuer
        and (b) under the Indenture, the Issuer will assign and pledge the VZMT Transferred Property and related property and rights to the Indenture Trustee for the benefit of the Secured Parties.

     

    Section 2.4.   Savings Clause.  VZMT and the
        Depositor intend that each assignment under this Agreement be an absolute assignment of the VZMT Transferred Property, conveying good title to the VZMT Transferred Property free and clear of any Lien, other than Permitted Liens, from VZMT to the
        Depositor.  VZMT and the Depositor intend that the VZMT Transferred Property transferred by VZMT not be a part of VZMT’s estate if there is a bankruptcy or insolvency of VZMT.  If, despite the intent of VZMT and the Depositor, a transfer of the
        VZMT Transferred Property transferred by VZMT under this Agreement is determined to be a pledge for a financing or is determined not to be an absolute assignment, VZMT Grants to the Depositor a security interest in VZMT’s right, title and interest
        in the VZMT Transferred Property transferred by it to secure a loan in an amount equal to all amounts payable by VZMT under this Agreement, all amounts payable as principal of or interest on the Notes, all amounts payable as Servicing Fees under
        the Transfer and Servicing Agreement and all other amounts payable by the Issuer under the Transaction Documents.  In that case, this Agreement will be a security agreement under Law and the Depositor will have the rights and remedies of a secured
        party and creditor under the UCC.

     

    ARTICLE III

      REPRESENTATIONS AND WARRANTIES

     

    Section 3.1.   VZMT Representations and Warranties. 
        VZMT makes the following representations and warranties on which the Depositor is relying in acquiring the VZMT Transferred Property transferred by VZMT.  The representations and warranties are made as of the date of this Agreement and each
        Acquisition Date and will survive the transfer and absolute assignment of the applicable VZMT Transferred Property by VZMT to the Depositor under this Agreement and by the Depositor to the Issuer under the Transfer and Servicing Agreement and the
        pledge of the VZMT Transferred Property by the Issuer to the Indenture Trustee under the Indenture:

     

    
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    (a) Organization and Good Standing.  It is a statutory trust duly organized, validly existing and in good standing under the laws of the State of Delaware, and has full power and authority to own its properties and to conduct
        its business as such properties are currently owned and such business is presently conducted, and to execute, deliver and perform its obligations under this Agreement and each other Transaction Document to which it is a party.

     

    (b) Due Qualification.  It is duly qualified to do business, is in good standing as a foreign entity (or is exempt from such requirements) and has obtained all necessary licenses and approvals in each jurisdiction in which
        the conduct of its business requires such qualification, licenses or approvals, except where the failure to so qualify or obtain licenses or approvals would not reasonably be expected to have a Material Adverse Effect.

     

    (c) Authorization and No Contravention.  The execution, delivery and performance by it of this Agreement, the other Transaction Documents to which it is a party and the other documents to be delivered by it hereunder or
        thereunder: (i) are within its trust powers, (ii) have been duly authorized by it by all necessary action, (iii) do not contravene (A) its organizational documents, (B) any Law applicable to it, (C) any contractual restriction binding on or
        affecting it or its property or (D) any order, writ, judgment, award, injunction or decree binding on or affecting it or its property, except, in each case of (A), (B), (C) or (D), where such contravention would not reasonably be expected to have a
        Material Adverse Effect and (iv) do not result in or require the creation of any Adverse Claim upon or with respect to any of its properties. This Agreement and each of the other Transaction Documents to which it is a party have been duly executed
        and delivered by it.

     

    (d) No Consent Required.  No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority is required for the due execution, delivery and performance by it of this Agreement or any
        other Transaction Document to which it is a party, except for the filing of the UCC financing statements as required by this Agreement.

     

    (e) Binding Obligation.  This Agreement and each other Transaction Document to which it is a party constitutes, when duly executed and delivered by each other party hereto and thereto, a legal, valid and binding obligation of
        it, enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar Laws affecting creditors’ rights
        generally or by general principles of equity.

     

    (f) Bulk Sales Act.  No transaction contemplated hereby requires compliance with any bulk sales act or similar Law.

     

    (g) Compliance with Law.  It has complied in all material respects with all applicable Laws to which it may be subject, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to
        have a Material Adverse Effect.

     

    (h) No Proceedings.  There are no actions, suits, investigations or other proceedings pending, or to its knowledge threatened, against or affecting it or any of its properties, that (i) if adversely determined (individually
        or in the aggregate), would reasonably be expected to have a

     

    
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    Material Adverse Effect or (ii) involve any Transaction Document or any transaction contemplated thereby and as to which there is a reasonable possibility of a materially adverse
      decision.

     

    (i) Not an Investment Company.   It is not and is not controlled by, an “investment company” registered or required to be registered under the Investment Company Act.

     

    Section 3.2.   VZMT Representations and Warranties
          About Pools of Receivables Transferred by VZMT.  VZMT makes the following representations and warranties about each pool of Receivables transferred by VZMT on which the Depositor is relying in acquiring the applicable Receivables and the
        other related VZMT Transferred Property.  The representations and warranties are made as of each Acquisition Date (for the related Additional Receivables) and will survive the transfer and assignment of the VZMT Transferred Property transferred by
        VZMT to the Depositor under this Agreement and by the Depositor to the Issuer under the Transfer and Servicing Agreement and the pledge of the VZMT Transferred Property by the Issuer to the Indenture Trustee under the Indenture, and may not be
        waived by the Depositor.

     

    (a) Valid Assignment.  This Agreement evidences a valid absolute assignment of the VZMT Transferred Property transferred by VZMT to the Depositor, enforceable against creditors of, purchasers from and transferees and absolute
        assignees of VZMT.

     

    (b) Good Title to VZMT Transferred Property.  Immediately prior to the transfer and absolute assignment by it under this Agreement of any VZMT Transferred Property, VZMT was the owner of, and had good title to, such VZMT
        Transferred Property, free and clear of any Lien, other than Permitted Liens.

     

    (c) Security Interest in VZMT Transferred Property.

     

    (i) The Depositor will have, immediately following completion of the transfer and absolute assignment pursuant to this Agreement, a valid and continuing ownership interest, which is a first priority perfected security interest (as
        such term is used in Article 9 of the applicable UCC) enforceable as such against creditors of and lenders to it, in the VZMT Transferred Property transferred by VZMT free and clear of any Lien, other than Permitted Liens.

     

    (ii) Other than pursuant to this Agreement, VZMT has not pledged, assigned, transferred or granted a security interest in, or otherwise conveyed, any of the VZMT Transferred Property.  VZMT has not authorized the filing of and is not
        aware of any financing statements against it that include a description of collateral covering any VZMT Transferred Property transferred by it under this Agreement other than any financing statement filed in connection with this Agreement or any
        other Transaction Document.

     

    (iii) VZMT will cause, as of the date of this Agreement, the delivery to the Administrator and the Depositor in proper form for filing, and has caused the filing of (or will cause the filing of within ten (10) days following the date
        of this Agreement or, solely to the extent any additional filing is necessary as determined by VZMT and the Administrator, the related Acquisition Date) all appropriate financing statements and financing statement amendments in the proper filing
        office in the appropriate jurisdictions

     

    
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    under the applicable Law in order to perfect and maintain perfected the conveyance of the VZMT Transferred Property transferred by VZMT.

     

    (d) No Adverse Selection. None of the Administrator, VZMT or any of their respective Affiliates has selected any Receivables to be transferred and assigned to the Depositor on the applicable Acquisition Date through a process
        that is intended to be adverse to the Depositor or the Depositor’s assignees.

     

    (e) Schedule of Receivables.  The Schedule of Receivables contains an accurate and complete list of unique asset identifying information for the Receivables transferred by VZMT.

     

    (f) Underwriting Procedures.  The Receivables were originated in accordance with all applicable requirements of the Underwriting Procedures of the applicable Originator in all material respects.

     

    (g) Accounts.  Each Receivable is (A) if the Receivable is not secured by the related Device, an “account” or “payment intangible,” or (B) if the Receivable is secured by the related Device, “chattel paper,” in each case,
        within the meaning of the applicable UCC.

     

    (h) No Defenses.  There is no right of rescission, setoff, counterclaim or defense asserted or threatened against any of the Receivables, including by reason of the Marketing Agent’s failure to make, or to cause the related
        Originator to make, any Upgrade Payments related to an Upgrade Offer.

     

    Section 3.3.   Representations and Warranties About
          Each Receivable.  With respect to the Receivables transferred by VZMT to the Depositor under this Agreement, the Servicer represents and warrants that each Receivable transferred and absolutely assigned by VZMT to the Depositor under this
        Agreement is an Eligible Receivable (the “Eligibility Representation”).  Such representation and warranty is made as of each Acquisition Date (for the related Additional Receivables) or other dates stated and will survive the transfer and
        absolute assignment of the Receivables transferred by VZMT to the Depositor under this Agreement and by the Depositor to the Issuer under the Transfer and Servicing Agreement and the pledge of such Receivables by the Issuer to the Indenture Trustee
        under the Indenture.  Any inaccuracy in the Eligibility Representation will be deemed not to constitute a breach of the Eligibility Representation if such inaccuracy does not affect the ability of the Issuer to receive and retain payment in full on
        such Receivable on the terms and conditions and within the timeframe set forth in the underlying device payment plan agreement.  A Receivable will be an Eligible Receivable if:

     

    (a) as of the related Cutoff Date, the Obligor on the account for such Receivable had a billing address in the United States or in a territory of the United States;

     

    (b) as of the related Cutoff Date, the remaining term of the Receivable is less than or equal to 24 months;

     

    (c) the Receivable did not contain a contractual right to an upgrade of the Device related to such device payment plan agreement, at the time such Receivable was originated;

     

      

    
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     (d) the origination date of the Receivable was at least fifteen (15) days prior to the related Cutoff Date;

     

    (e) as of the related Cutoff Date, as indicated on the records of the Servicer or one of its Affiliates, the Obligor on the account for such Receivable maintains service with Verizon Wireless;

     

    (f) under the Receivable, there is no prepayment penalty;

     

    (g) as of the related Cutoff Date, as indicated on the records of the Servicer or one of its Affiliates, the Receivable is not associated with the account of a business customer or government customer;

     

    (h) as of the related Cutoff Date, the Obligor on the account for such Receivable is not indicated to be subject to a current bankruptcy proceeding on the records of the Servicer or one of its Affiliates, acting as its agent;

     

    (i) as of the related Cutoff Date, the Receivable is not a Receivable that is part of an account (A) on which any amount is thirty-one (31) days or more Delinquent by the Obligor or (B) that is in “suspend” or “disconnect” status
        (including as a result of the application of the Servicemembers Civil Relief Act, as amended) in accordance with the Servicing Procedures;

     

    (j) the Receivable is denominated and payable only in U.S. dollars;

     

    (k) the Obligor under such Receivable is required to make payments no less frequently than monthly under the related device payment plan agreement;

     

    (l) as of the related Cutoff Date, the outstanding balance of the Receivable does not exceed $2,500;

     

    (m) as of the related Cutoff Date, either (i) at least one (1) monthly payment made by the Obligor under the related device payment plan agreement has been received with respect to the related Receivable or (ii) the related Obligor
        has at least one (1) year of Customer Tenure with Verizon Wireless;

     

    (n) the Receivable was originated in, and is subject to the Laws of, a jurisdiction which permits the transfer and assignment of the Receivable, and the terms of the Receivable do not contain a requirement that the related Obligor
        consent to the transfer or assignment of the rights to payment of the related Originator under such Receivable;

     

    (o) at the time of origination, the Receivable complied in all material respects with any requirements of Law applicable thereto;

     

    (p) the Receivable constitutes the legal and binding obligation of the related Obligor enforceable against such Obligor in accordance with its terms (except as such enforcement may be limited by applicable bankruptcy, insolvency,
        reorganization or similar Laws relating to and limiting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or in law)); and

     

    
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    (q) as of the related Cutoff Date, neither the Servicer’s receivables systems nor the Receivable File indicates that the Receivable was satisfied or rescinded.

     

    Section 3.4.   Servicer Acquisition of Receivables
          for Breach of Representations.

     

    (a) Investigation of Breach.  If a Responsible Person of the Servicer receives written notice from the Depositor, the Administrator or the Indenture Trustee that the Eligibility Representation was breached when made, then, in
        each case, the Servicer (or if Cellco is no longer the Servicer, then Cellco in its individual capacity) will investigate the Receivable to confirm the breach and determine if the breach has a material adverse effect on the Issuer.  The Servicer
        (or if Cellco is no longer the Servicer, then Cellco in its individual capacity) will have the option to cure such breach.  For the avoidance of doubt, the Indenture Trustee shall have no obligation to give the notice set forth in the first
        sentence of this Section unless a Responsible Person of the Indenture Trustee has actual knowledge of such breach or has received written notice identifying the specific Receivable or Receivables for which the Eligibility Representation was
        breached.  None of the Depositor, the Owner Trustee, the Indenture Trustee (including in its capacity as Successor Servicer), the Parent Support Provider, the Marketing Agent or the Administrator will have an obligation to investigate whether a
        breach of the Eligibility Representation has occurred or whether any Receivable is required to be acquired under this Section 3.4.  In addition, with respect to 60-Day Delinquent Receivables subject to an Asset Representations Review, the Servicer
        will have the sole ability to determine if there was non-compliance with the Eligibility Representation made by it with respect to those 60-Day Delinquent Receivables that constitutes a breach, and whether to reacquire or acquire, as applicable,
        those Receivables from the Issuer.

     

    (b) Acquisition of Receivables; Payment of Acquisition Amount.  If the Servicer chooses to cure a breach of the Eligibility Representation that has a material adverse effect on the Issuer, such breach must be cured by the
        Servicer by the end of the second month following the month the Responsible Person of the Servicer received written notice of the breach as set forth above.  If such breach (i) is not cured and (ii) had a material adverse effect on the Issuer, then
        the Servicer must acquire any such Receivable transferred by VZMT to the Depositor for which the Eligibility Representation was breached.  The Servicer will acquire the Receivables transferred by VZMT to the Depositor as described in the
        immediately preceding sentence by remitting the Acquisition Amount for the related Receivables on or before the Business Day before the Payment Date following the end of the second month referenced in the first sentence hereof (or, with
        satisfaction of the Rating Agency Condition, on such Payment Date).

     

    (c) Transfer and Assignment of Acquired Receivable.  When the Servicer’s payment of the Acquisition Amount for the applicable Receivables becomes included in Available Funds for a Payment Date, the Issuer will be deemed to
        have transferred and absolutely assigned to the Servicer, effective as of the last day of the Collection Period before the related Collection Period, all of the Issuer’s right, title and interest in such Receivables and all security and documents
        relating to such Receivables.  The transfer and absolute assignment will not require any action by the Depositor, the Issuer or the Indenture Trustee and will be without recourse, representation or warranty by the Depositor or the Issuer, except
        that such Receivables are free of any Liens, other than Permitted Liens.  After the transfer and absolute assignment, the Servicer will mark its receivables systems to indicate that the receivables are no longer Receivables and may take any

     

    
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    action necessary or advisable to transfer and absolutely assign the Acquired Receivables, free from any Lien of the Depositor, the Issuer or the Indenture Trustee.

     

    (d) Acquisition Sole Remedy.  The sole remedy against the Servicer for a breach of an Eligibility Representation is to require the Servicer to acquire the related Receivables under this Section 3.4.  The Depositor will
        enforce the Servicer’s acquisition obligation under this Section 3.4.  For the avoidance of doubt, nothing contained in this Section 3.4(d) shall limit any remedy of the Issuer against the Parent Support Provider contained in the Parent Support
        Agreement.

     

    (e) Removal or Resignation of Cellco as Servicer.  Notwithstanding anything to the contrary in this Agreement or in any other Transaction Document, immediately upon the resignation or removal of Cellco as Servicer pursuant to
        Sections 7.1 or 7.2 of the Transfer and Servicing Agreement, Cellco, in its individual capacity, will be required to assume the obligation to acquire Receivables as set forth in this Section 3.4 without further action.

     

    (f) Dispute Resolution.  The Servicer and VZMT agree to be bound by the dispute resolution provisions in Section 11.2 of the Transfer and Servicing Agreement as if they were part of this Agreement.

     

    Section 3.5.   Depositor’s Representations and
          Warranties.  The Depositor represents and warrants to VZMT and the Servicer as of the date of this Agreement and each Acquisition Date:

     

    (a) Organization and Good Standing. The Depositor is a validly existing limited liability company in good standing under the laws of the State of Delaware and has full power and authority to own its properties and conduct its
        business as presently owned or conducted, and to execute, deliver and perform its obligations under this Agreement and each other Transaction Document to which it is a party.

     

    (b) Due Qualification. The Depositor is duly qualified to do business, is in good standing as a foreign limited liability company (or is exempt from such requirements) and has obtained all necessary licenses and approvals in
        each jurisdiction in which the conduct of its business requires such qualification, licenses or approvals, except where the failure to so qualify or obtain licenses or approvals would not reasonably be expected to have a Material Adverse Effect.

     

    (c) Due Authorization. The execution, delivery, and performance of this Agreement and each other Transaction Document to which it is a party, have been duly authorized by the Depositor by all necessary limited liability
        company action on the part of the Depositor.

     

    (d) No Proceedings. There are no actions, suits, investigations or other proceedings pending, or to its knowledge threatened, against the Depositor or any of its properties: (i) asserting the invalidity of this Agreement or
        any other Transaction Document to which it is a party; (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or any other Transaction Document to which it is a party; or (iii) seeking any determination
        or ruling that might have a Material Adverse Effect on the performance by the Depositor of its obligations under, or the validity or enforceability of, this Agreement or any other Transaction Document to which it is a party.

     

    
      9

      
        

    

    (e) All Consents. All authorizations, consents, orders or approvals of or registrations or declarations with any Governmental Authority required to be obtained, effected or given to it, if any, in connection with the
        execution and delivery of this Agreement and each other Transaction Document to which it is a party and the performance of the transactions contemplated by this Agreement or any other Transaction Document by the Depositor, in each case, have been
        duly obtained, effected or given and are in full force and effect, except for those which the failure to obtain would not reasonably be expected to have a Material Adverse Effect.

     

    (f) Binding Obligation. This Agreement and each other Transaction Document to which it is a party constitutes, when duly executed and delivered by each other party hereto and thereto, a legal, valid and binding obligation of
        the Depositor, enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar Laws affecting
        creditors’ rights generally or by general principles of equity.

     

    (g) No Conflict. The execution and delivery of this Agreement or any other Transaction Document to which it is a party by the Depositor, and the performance by it of the transactions contemplated by the Transaction Documents
        and the fulfillment of the terms hereof and thereof applicable to the Depositor, (i) do not contravene (A) its limited liability company agreement, (B) any contractual restriction binding on or affecting it or its property or (C) any order, writ,
        judgment, award, injunction or decree binding on or affecting it or its property, except, in each case of (A), (B) or (C), where such contravention would not reasonably be expected to have a Material Adverse Effect and (ii) do not result in or
        require the creation of any Adverse Claim upon or with respect to any of its properties.

     

    (h) No Violation. The execution and delivery of this Agreement by the Depositor, the performance by the Depositor of the transactions contemplated by this Agreement or any other Transaction Document to which it is a party and
        the fulfillment of the terms hereof and thereof applicable to the Depositor will not violate any Law applicable to the Depositor, except where such violation would not reasonably be expected to have a Material Adverse Effect.

     

    Section 3.6.   Servicer’s Representations and
          Warranties.  The Servicer represents and warrants to the Depositor as of the date of this Agreement and each Acquisition Date:

     

    (a) Organization and Good Standing. The Servicer is a validly existing partnership in good standing under the laws of the State of Delaware and has full power and authority to own its properties and conduct its servicing
        business as presently owned or conducted, and to execute, deliver and perform its obligations under this Agreement and each other Transaction Document to which it is a party.

     

    (b) Due Qualification. The Servicer is duly qualified to do business, is in good standing as a foreign entity (or is exempt from such requirements) and has obtained all necessary licenses and approvals in each jurisdiction in
        which the servicing of the Receivables requires such qualification, licenses or approvals, except where the failure to so qualify or obtain licenses or approvals would not reasonably be expected to have a Material Adverse Effect.

     

    
      10

      
        

    

    (c) Due Authorization. The execution, delivery, and performance of this Agreement and each other Transaction Document to which it is a party, have been duly authorized by the Servicer by all necessary partnership action on
        the part of the Servicer.

     

    (d) No Proceedings. There are no actions, suits, investigations or other proceedings pending, or to its knowledge threatened, against the Servicer or any of its properties: (i) asserting the invalidity of this Agreement or
        any other Transaction Document to which it is a party; (ii) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or any other Transaction Document to which it is a party; or (iii) seeking any determination
        or ruling that might have a Material Adverse Effect on the performance by the Servicer of its obligations under, or the validity or enforceability of, this Agreement or any other Transaction Document to which it is a party.

     

    (e) All Consents. All authorizations, consents, orders or approvals of or registrations or declarations with any Governmental Authority required to be obtained, effected or given to it, if any, in connection with the
        execution and delivery of this Agreement and each other Transaction Document to which it is a party and the performance of the transactions contemplated by this Agreement or any other Transaction Document by the Servicer, in each case, have been
        duly obtained, effected or given and are in full force and effect, except for those which the failure to obtain would not reasonably be expected to have a Material Adverse Effect.

     

    (f) Binding Obligation. This Agreement and each other Transaction Document to which it is a party constitutes, when duly executed and delivered by each other party hereto and thereto, a legal, valid and binding obligation of
        the Servicer, enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, receivership, conservatorship or other similar Laws affecting
        creditors’ rights generally and, if applicable, the rights of creditors from time to time in effect or by general principles of equity.

     

    (g) No Conflict. The execution and delivery of this Agreement or any other Transaction Document to which it is a party by the Servicer, and the performance by it of the transactions contemplated by the Transaction Documents
        and the fulfillment of the terms hereof and thereof applicable to the Servicer, (i) do not contravene (A) the organizational documents of the Servicer, (B) any contractual restriction binding on or affecting it or its property, or (C) any order,
        writ, judgment, award, injunction or decree binding on or affecting it or its property, except, in each case of (A), (B) or (C), where such contravention would not reasonably be expected to have a Material Adverse Effect and (ii) do not result in
        or require the creation of any Adverse Claim upon or with respect to any of its properties.

     

    (h) No Violation. The execution and delivery of this Agreement by the Servicer, the performance by the Servicer of the transactions contemplated by this Agreement or any other Transaction Document to which it is a party and
        the fulfillment of the terms hereof and thereof applicable to the Servicer will not violate any Law applicable to the Servicer, except where such violation would not reasonably be expected to have a Material Adverse Effect.

     

    
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    ARTICLE IV

      VZMT’S AGREEMENTS

     

    Section 4.1.   Financing Statements.

     

    (a) Filing of Financing Statements.  VZMT will file, or will cause to be filed, financing and continuation statements, and amendments to the statements, in the jurisdictions and with the filing offices necessary to perfect
        the Depositor’s interest in the VZMT Transferred Property transferred by VZMT.  VZMT will promptly deliver, or will cause to be delivered, to the Depositor file-stamped copies of, or filing receipts for, any financing statement, continuation
        statement and amendment to a previously filed financing statement.

     

    (b) Depositor Authorized to File Financing Statements.  VZMT authorizes the Depositor to file financing and continuation statements, and amendments to the statements, in the jurisdictions and with the filing offices as the
        Depositor may determine are necessary or advisable to perfect the Depositor’s interest in the VZMT Transferred Property.  The financing and continuation statements may describe the VZMT Transferred Property as the Depositor may reasonably determine
        to perfect the Depositor’s interest in the VZMT Transferred Property.

     

    (c) Relocation of VZMT.  VZMT will notify the Depositor at least ten (10) days before a relocation of its chief executive office or jurisdiction of organization if it could require the filing of a new financing statement or
        an amendment to a previously filed financing statement under Section 9-307 of the UCC.  If required, VZMT will promptly file, or will cause to be filed, new financing statements or amendments to all previously filed financing statements.  VZMT will
        maintain its chief executive office within the United States and will maintain its jurisdiction of organization in only one State.  VZMT will notify the Depositor of any change in its immediate ownership or any decision to appoint a new trustee of
        VZMT.

     

    (d) Change of VZMT’s Name.  VZMT will notify the Depositor at least ten (10) days before any change in its name that could make a financing statement filed under this Section 4.1 seriously misleading under Section 9-506 of
        the UCC.  If required, VZMT will promptly file, or will cause to be filed, amendments to all previously filed financing statements.

     

    Section 4.2.   No Transfer or Lien by VZMT. 
        Except for the transfer and absolute assignment under this Agreement, VZMT will not transfer or absolutely assign any VZMT Transferred Property transferred and absolutely assigned by it under this Agreement to another Person or Grant or allow a
        Lien, other than a Permitted Lien, on an interest in any such VZMT Transferred Property.  VZMT will defend the Depositor’s interest in the VZMT Transferred Property transferred and absolutely assigned by it to the Depositor against claims of third
        parties claiming through VZMT.

     

    Section 4.3.   Expenses.  VZMT will pay all
        expenses to perform its obligations under this Agreement and the Depositor’s reasonable expenses to perfect the Depositor’s interest in the VZMT Transferred Property transferred by VZMT to the Depositor and to enforce VZMT’s obligations under this
        Agreement.

     

    Section 4.4.   VZMT Records.  VZMT will mark its
        records to indicate that any Receivable absolutely assigned by it to the Depositor is owned by the Depositor or its assignee on

     

    
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    the related Acquisition Date and will not change the indication until the Receivable has been paid in full by the Obligor, acquired by the Servicer or the Marketing Agent or sold to a
      third party, as applicable, under a Transaction Document.

     

    Section 4.5.   Review of VZMT’s Records.  VZMT
        will maintain records and documents relating to its performance under this Agreement according to its customary business practices.  Upon reasonable request not more than once during any calendar year, and with reasonable notice, VZMT will give the
        Depositor (or its representatives) access to the records and documents to conduct a review of VZMT.  Any access or review will be conducted at VZMT’s offices during its normal business hours at a time reasonably convenient to VZMT and in a manner
        that will minimize disruption to its business operations.  Any access or review will be subject to VZMT’s security, confidentiality and privacy policies and any legal, regulatory and data protection policies.

     

    Section 4.6.   Review of Servicer’s Records. 
        Upon reasonable request not more than once during any calendar year, and with reasonable notice, the Servicer will give the Depositor (or its representative) access to the records and documents to conduct a review of the Servicer’s performance
        under this Agreement and the Eligibility Representations made by the Servicer about the Receivables absolutely assigned by VZMT to the Depositor.  Any access or review will be conducted at the Servicer’s offices during its normal business hours at
        a time reasonably convenient to the Servicer and in a manner that will minimize disruption to its business operations.  Any access or review will be subject to the Servicer’s security, confidentiality and privacy policies and any regulatory, legal
        or data protection policies.

     

    Section 4.7.   Acquisition of Bankruptcy Surrendered Receivables.

     

    (a) Acquisition
          of Bankruptcy Surrendered Receivables; Payment of Acquisition Amount.  If a Receivable becomes a Bankruptcy Surrendered Receivable, the Servicer (or if Cellco is no longer the Servicer, then Cellco in its individual capacity) must acquire any
        such Receivable from the Issuer, subject to the last sentence of this Section 4.7(a).  The Servicer will acquire any Bankruptcy Surrendered Receivables by remitting the Acquisition Amount for the related Bankruptcy Surrendered Receivables on or
        prior to the second Business Day before the Payment Date related to the Collection Period during which the Receivable became a Bankruptcy Surrendered Receivable.  The aggregate Principal Balance of all Bankruptcy Surrendered Receivables acquired by
        the Servicer, in the aggregate, shall not exceed five percent (5%) of the highest aggregate Principal Balance of all Receivables (calculated as of the relevant Cutoff Date for such Receivable) transferred by VZMT to the Depositor and by the
        Depositor to the Issuer and held by the Issuer as of the applicable date of determination, and the Servicer shall not be required to acquire any Bankruptcy Surrendered Receivables in excess of such limit.

     

    (b) Transfer
          and Assignment of Acquired Receivables.  When a Servicer’s payment of the Acquisition Amount for VZMT’s Bankruptcy Surrendered Receivables becomes included in Available Funds for a Payment Date, the Issuer will be deemed to have transferred
        and absolutely assigned to the Servicer, effective as of the last day of the Collection Period before the related Collection Period, all of the Issuer’s right, title and interest in such Bankruptcy Surrendered Receivables and all security and
        documents relating to such Bankruptcy Surrendered Receivables.  The transfer and absolute assignment will not require any action by the Depositor, the Issuer or the Indenture Trustee and will be without recourse, representation or

     

    
      13

      
        

    

    warranty by the Depositor or the Issuer, except that such Bankruptcy Surrendered Receivables are free of any Liens, other than Permitted Liens.  After the transfer and absolute
      assignment, the Servicer will mark its receivables systems to indicate that the receivables are no longer Receivables and may take any action necessary or advisable to transfer and absolutely assign the Acquired Receivables, free from any Lien of the
      Depositor, the Issuer or the Indenture Trustee.

     

    (c) Enforcement
          of Obligation.  The Depositor will enforce the Servicer’s (or if Cellco is no longer the Servicer, then Cellco’s, in its individual capacity) acquisition obligation under this Section 4.7.

     

    ARTICLE V

      OTHER AGREEMENTS

     

    Section 5.1.   No Petition.  Each party hereto
        agrees that, before the date that is one year and one day (or, if longer, any applicable preference period) after the payment in full of (a) all securities issued by the Depositor or by a trust for which the Depositor was a depositor or (b) the
        Notes, it will not start or pursue against, or join any other Person in starting or pursuing against, (i) the Depositor, (ii) the Issuer or (iii) VZMT, respectively, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings
        or other proceedings under any bankruptcy or similar Law.  This Section 5.1 will survive the termination of this Agreement.

     

    Section 5.2.   Limited Recourse.  VZMT agrees
        that any claim that it may seek to enforce against the Depositor under this Agreement is limited to the VZMT Transferred Property transferred by VZMT only and is not a claim against the Depositor’s assets as a whole or against assets other than
        such VZMT Transferred Property.

     

    Section 5.3.   Termination.  This Agreement will
        terminate when the Issuer is terminated under the Trust Agreement.

     

    Section 5.4.   Merger, Consolidation, Succession or
          Assignment.  Any Person (a) into which VZMT is merged or consolidated, (b) resulting from a merger or consolidation to which VZMT is a party, (c) succeeding to VZMT’s business or (d) that is an Affiliate of VZMT to whom VZMT has assigned this
        Agreement, will be the successor to VZMT under this Agreement.  Within fifteen (15) Business Days after the merger, consolidation, succession or assignment, such Person will (i) execute an agreement to assume VZMT’s obligations under this Agreement
        and each Transaction Document to which it is a party (unless the assumption happens by operation of Law), (ii) deliver to the Issuer, the Owner Trustee and the Indenture Trustee an Officer’s Certificate and an Opinion of Counsel each stating that
        the merger, consolidation, succession or assignment and the assumption agreement comply with this Section 5.4 and (iii) notify the Rating Agencies of the merger, consolidation, succession or assignment.

     

    ARTICLE VI

      MISCELLANEOUS

     

    Section 6.1.   Amendments.

     

    (a) Amendments to Clarify and Correct Errors and Defects.  The parties may amend this Agreement to clarify an ambiguity, correct an error or correct or supplement any term of this

     

    
      14

      
        

    

    Agreement that may be defective or inconsistent with the other terms of this Agreement, in each case, without the consent of the Noteholders, the Certificateholders or any other Person. 
      The parties may amend any term or provision of this Agreement from time to time for the purpose of conforming the terms of this Agreement to the description thereof in the Prospectus, without the consent of Noteholders, the Certificateholders or any
      other Person.

     

    (b) Other Amendments.  Other than as set forth in Section 6.1(c), the parties may amend this Agreement to add any provisions to, or change in any manner or eliminate any provisions of, this Agreement or for the purpose of
        modifying in any manner the rights of the Noteholders under this Agreement, with the consent of the Certificateholders, if either (x) the Issuer or the Administrator delivers an Officer’s Certificate to the Indenture Trustee and the Owner Trustee
        stating that the amendment will not have a material adverse effect on the Noteholders or (y) the Rating Agency Condition is satisfied with respect to such amendment.

     

    (c) Amendments Requiring Consent of Noteholders and Certificateholders.

     

    (i) This Agreement may also be amended from time to time by the parties hereto, with prior written notice to the Rating Agencies and the Indenture Trustee and, (x) if the interests of the Noteholders are
        materially and adversely affected, with the consent of the Noteholders of the Notes evidencing at least a majority of the Note Balance of the Controlling Class of Notes and (y) if the interests of the Certificateholders are materially and adversely
        affected, with the consent of the Certificateholders evidencing a majority of the Percentage Interest, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in
        any manner the rights of the Noteholders or Certificateholders under this Agreement.

     

     (ii) No amendment to this Agreement may, without the consent of all adversely affected Noteholders or Certificateholders, as applicable, (i) change the applicable Final
        Maturity Date on a Note or change the principal amount of or interest rate or Make-Whole Payment on a Note or (ii) modify the percentage of the Note Balance of the Notes or the Controlling Class required for any action.

     

    It shall not be necessary for the consent of the Certificateholders, the Noteholders or the Indenture Trustee pursuant to this Section to approve the particular form
      of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof.  For the avoidance of doubt, any Noteholder consenting to any amendment shall be deemed to agree that such amendment does not have a
      material adverse effect on such Noteholder.  The manner of obtaining such consents (and any other consents of Certificateholders provided for in this Agreement or in any other Transaction Document) and of evidencing the authorization of the execution
      thereof by the Certificateholders shall be subject to such reasonable requirements as the Owner Trustee may prescribe.

     

    (d) Indenture Trustee Consent.  The consent of the Indenture Trustee will be required for any amendment pursuant to Sections 6.1(b) or (c) that has a material adverse effect on the rights, obligations, immunities or
        indemnities of the Indenture Trustee.

     

    
      15

      
        

    

    (e) Notice of Amendments.  Promptly after the execution of an amendment, the Depositor will deliver, or will cause the Administrator to deliver, a copy of the amendment to the Indenture Trustee and the Rating Agencies, and
        the Indenture Trustee will notify the Noteholders of the substance of the amendment.

     

    Section 6.2.   Benefit of Agreement; Third-Party
          Beneficiaries.  This Agreement is for the benefit of and will be binding on the parties and their permitted successors and assigns.  The Issuer and the Indenture Trustee, for the benefit of the Secured Parties, will be third-party
        beneficiaries of this Agreement and may enforce this Agreement against each of VZMT and the Servicer.  No other Person will have any right or obligation under this Agreement.

     

    Section 6.3.   Notices.

     

    (a) Notices to Parties.  All notices, requests, directions, consents, waivers or other communications to or from the parties must be in writing and will be considered received by the recipient:

     

    (i) for personally delivered, express or certified mail or courier, when received;

     

    (ii) for a fax, when receipt is confirmed by telephone, reply email or reply fax from the recipient;

     

    (iii) for an email, when receipt is confirmed by telephone or reply email from the recipient; and

     

    (iv) for an electronic posting to a password-protected website to which the recipient has access, on delivery of an email (without the requirement of confirmation of receipt) stating that the electronic posting
        has been made.

     

    (b) Notice Addresses.  A notice, request, direction, consent, waiver or other communication must be addressed to the recipient at its address stated in Schedule B to the Transfer and Servicing Agreement, which address the
        party may change at any time by notifying the other party.

     

    Section 6.4.   GOVERNING LAW.  THIS AGREEMENT,
        INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK,
        BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF).

     

    Section 6.5.   Submission to Jurisdiction.  Each
        party submits to the nonexclusive jurisdiction of the United States District Court for the Southern District of New York and of any New York State Court sitting in New York, New York for legal proceedings relating to this Agreement.  Each party
        irrevocably waives, to the fullest extent permitted by Law, any objection that it may now or in the future have to the venue of a proceeding brought in such a court and any claim that the proceeding was brought in an inconvenient forum.

     

    
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     Section 6.6.   WAIVER OF JURY TRIAL.  TO THE
        EXTENT PERMITTED BY APPLICABLE LAW, EACH PARTY HERETO IRREVOCABLY WAIVES ALL RIGHT OF TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY MATTER ARISING THEREUNDER WHETHER SOUNDING IN
        CONTRACT, TORT OR OTHERWISE.

     

    Section 6.7.   No Waiver; Remedies.  No party’s
        failure or delay in exercising a power, right or remedy under this Agreement will operate as a waiver.  No single or partial exercise of a power, right or remedy will preclude any other or further exercise of the power, right or remedy or the
        exercise of any other power, right or remedy.  The powers, rights and remedies under this Agreement are in addition to any powers, rights and remedies under Law.

     

    Section 6.8.   Severability.  If a part of this
        Agreement is held invalid, illegal or unenforceable, then it will be deemed severable from the remaining Agreement and will not affect the validity, legality or enforceability of the remaining Agreement.

     

    Section 6.9.   Headings.  The headings in this
        Agreement are included for convenience and will not affect the meaning or interpretation of this Agreement.

     

    Section 6.10.  Counterparts.  This Agreement may be executed in multiple counterparts. Each counterpart will be an original and all
        counterparts will together be one document.

     

    Section 6.11.  Agreements of VZMT.  All and each of the representations, warranties, undertakings and agreements herein made on the part of
        VZMT are made and intended not as personal representations, warranties, undertakings and agreements by or for the purpose or with the intention of binding Wilmington Trust, National Association in its individual capacity or in its capacity as VZMT
        Owner Trustee under the VZMT Trust Agreement, but are made and intended for the purpose of binding only VZMT (a Delaware statutory trust) and VZMT’s estate, right, title and interest in and to the assets of VZMT, and this Agreement is executed and
        delivered by the VZMT Owner Trustee solely on behalf of VZMT (a separate legal entity) in the exercise of the powers expressly conferred upon it as VZMT Owner Trustee under the VZMT Trust Agreement.  Notwithstanding anything in this Agreement to
        the contrary, no personal liability or responsibility is assumed hereunder by, or at any time shall be enforceable against Wilmington Trust, National Association, the VZMT Owner Trustee, or any successor in trust on account of any representation,
        warranty, undertaking or agreement hereunder of VZMT, either expressed or implied, all such personal liability, if any, being expressly waived by the other parties hereto.  Wilmington Trust, National Association, in its individual capacity or in
        its capacity as VZMT Owner Trustee, shall have no duty or responsibility hereunder or under any related document absent receipt of appropriate written instructions from the Administrator.

     

    Section 6.12.  Electronic Signatures. Each party agrees that this Agreement and any other documents to be delivered in connection herewith may be electronically signed, and
        that any electronic signatures appearing on this Agreement or such other documents are the same as handwritten signatures for the purposes of validity, enforceability, and admissibility.

     

    [Remainder of Page Left Blank]

     

    
      17

      
        

    

    IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be executed by its duly authorized officer as of the date and year first above written.

     

     

    

    
      	 	
              VERIZON MASTER TRUST,

            
	 	 	
              as Transferor

            
	 	 	 
	 	
              By:  

            	
              Wilmington Trust, National Association, not in its individual capacity but solely as owner trustee of Verizon Master Trust

            
	 	 	 
	 	 	 
	 	
              By:

            	
              /s/ Clarice Wright                                                  

                

            
	 	 	
              Name:  Clarice Wright

              

            
	 	 	
              Title:    Vice President

              

            
	 	 	 
	 	
              CELLCO PARTNERSHIP d/b/a VERIZON WIRELESS,

            
	 	 	
              as Servicer

            
	 	 	 
	 	 	 
	 	
              By:

            	
              /s/ Kee Chan Sin                                                    

              

            
	 	 	
              Name:  Kee Chan Sin

            
	 	 	
              Title:    Vice President and Assistant Treasurer

            
	 	 	 
	 	 	 
	 	
              VERIZON ABS LLC,

            
	 	 	
              as Depositor

            
	 	 	 
	 	 	 
	 	
              By:

            	
              /s/ Kee Chan Sin                                                    

            
	 	 	
              Name:  Kee Chan Sin

            
	 	 	
              Title:    Chief Financial Officer

            

    

    

    

    
      
        

    

    
    Schedule A

    

    

    

    

    Schedule of Receivables

      

      Delivered Electronically to Depositor at Closing

     

    

    

     

    
      SA-1

      
        

    

    
    Exhibit A

     

    

    

    

    

    Form of Transfer Notice

     

    U.S. Bank National Association,

    as Indenture Trustee and Note Paying Agent

    190 South LaSalle Street

    Chicago, Illinois 60603

    MK-IL-SL7C

    Attn: Global Structured Finance / VZOT 2020-B

    

    

    Verizon ABS LLC

    1 Verizon Way

    Basking Ridge, NJ 07920

    Attn: Treasurer

    

    

    Verizon Owner Trust 2020-B

    c/o Wilmington Trust, National Association

    Rodney Square North, 1100 North Market Street

    Wilmington, Delaware 19890-1600

    Attn:  Corporate Trust Administration

    

    

     

    Transfer Notice: Verizon Owner Trust 2020-B

     

    Ladies and Gentlemen:

     

    Under (i) Section 2.1(d) of the Originator Receivables Transfer Agreement, dated as of August 12, 2020 (the “Originator Transfer Agreement”), between the
      various Originators party thereto from time to time and Verizon ABS LLC, as Depositor, (ii) Section 2.1(d) of the Master Trust Receivables Transfer Agreement, dated as of August 12, 2020 (the “Master Trust Transfer Agreement”), among Verizon
      DPPA Master Trust (the “Master Trust”), Cellco Partnership d/b/a Verizon Wireless (“Cellco”), as Servicer, and Verizon ABS LLC, as Depositor and (iii) Section 2.1(d) of the VZMT Receivables Transfer Agreement, dated as of November 8,
      2021 (the “VZMT Transfer Agreement” and, together with the Originator Transfer Agreement and the Master Trust Transfer Agreement, the “Transfer Agreements”), among Verizon Master Trust (“VZMT”), Cellco, as Servicer, and Verizon
      ABS LLC, as Depositor, we notify the Indenture Trustee, the Depositor and the Issuer that (x) under the Transfer Agreements, VZMT, the Master Trust and each of the Originators listed on Schedule I will transfer to the Depositor the Additional
      Receivables listed on the Schedule of Receivables delivered in an electronic file with this Transfer Notice for [(i)] an aggregate Additional Receivables Cash Transfer Amount for such Additional Receivables of $[] (the “Current Additional
        Receivables Cash Transfer Amount”) on [], 20[    ] (the “Acquisition Date”), which Current Additional Receivables Cash

     

    
      EA-1

      
        

    

    Transfer Amount will be allocated among VZMT, the Master Trust and the applicable Originators as set forth in the immediately following paragraph [and (ii) an increase in the value of
      the Class A Certificate [of $[____]] and (y) under the Transfer and Servicing Agreement, dated as of August 12, 2020, as amended, among Verizon Owner Trust 2020-B, as Issuer, Verizon ABS LLC, as Depositor, and Cellco, as Servicer, Marketing Agent and
      Custodian (the “Transfer and Servicing Agreement”), the Depositor will transfer to the Issuer the Additional Receivables listed on the Schedule of Receivables delivered in an electronic file with this Transfer Notice for the Additional
      Receivables Transfer Amount for such Additional Receivables in the form of [(i)] the Current Additional Receivables Cash Transfer Amount on the Acquisition Date [and (ii) an increase in the Class B Certificate Principal Balance of $[____]]. 
      Capitalized terms used but not defined herein are defined in Appendix A to the Transfer and Servicing Agreement.

     

    The Indenture Trustee or Note Paying Agent is directed to withdraw from the Acquisition Account on the Acquisition Date the Current Additional Receivables Cash
      Transfer Amount set forth in the immediately preceding paragraph and deliver that amount to the Depositor who shall deliver $[______] to VZMT, $[_________] to the Master Trust and $[_______] to the applicable Originators.  The Issuer, the Depositor,
      VZMT, the Master Trust and each Originator listed on Schedule I hereto each represents and warrants to each of the others that the Additional Receivables Transfer Amount set forth in the immediately preceding paragraph is equal to the fair market
      value of the Additional Receivables and any of the other Originator Transferred Property transferred to the Depositor by such Originator, the other Master Trust Transferred Property transferred to the Depositor by the Master Trust, the other VZMT
      Transferred Property transferred to the Depositor by VZMT or the Depositor Transferred Property transferred to the Issuer by the Depositor, as applicable.

     

    [Remainder of Page Left Blank]

     

     

    

     

    

     

    

    
      EA-2

      
        

    

    
      	 	
              Very truly yours,

            
	 	 	 
	 	
              CELLCO PARTNERSHIP d/b/a VERIZON WIRELESS,

            
	 	 	
              as Administrator

            
	 	 	 
	 	 	 
	 	 	 
	 	
              By  

            	
                                                                                       

            
	 	 	
              Name:

            
	 	 	
              Title:

            

    

    

    

    
      EA-3

      
        

    

    Schedule I to Exhibit A

     

    

    

    

    

    List of Originators

     

    
      
        

    

    Schedule II to Exhibit A

     

    

    

    

    

    Schedule of Receivables

     

    Delivered electronically to the Depositor on the Acquisition DateExhibit
10.2

 

Unprotected
Lease Agreement

 

Drawn
up and signed on the 16th day of the month of June, 2006

 

	Between:	Africa
    Israel Properties Ltd 

    Ayalot
    Investments (Ramat Vered) 1994 Ltd

    Sharda
    Ltd 

    (Hereinafter:
    “the Lessor”)

     

    Of
    the first part;

	 	 
	And
    between: 	SciGen
    (IL) Ltd Company No. 513679555

    42
    HaYarkon St., Yavne 81227

    (Hereinafter:
    “the Lessee”)

     

    Of
    the second part;

 

	Whereas:	The
Lessor is the sole and lawful owner of the Leased Premises within their meaning hereunder;

	 	 
	And
    whereas:	The
Lessor is entitled to lease the Leased Premises to the Lessee;

	 	 
	And
    whereas:	The
Lessee wishes to lease the Leased Premises in unprotected lease and the Lessor agrees to lease the Leased Premises to the Lessee in unprotected
lease;

 

Therefore,
it is Declared, Stipulated and Agreed between the Parties as Follows: 

 

	1.	The
    preamble to this Agreement shall be deemed an integral part hereof. 
	 	 
	2.	Interpretation

 

	 	2.1.	As
    used in this Agreement, the following terms shall have the respective meanings set forth beside them below:

 

	 	“The
    Park” 	–	The
area of land known as Rehovot Park that is situated in block 3649 in part of parcels 8 and 9;

 

    	 

     

    

 

	 	“The
    Building” 	–	By
    building in the Park where the Leased Premises are situated as specified in Appendix A of this Agreement (hereinafter:
    “Appendix A”) and as highlighted in red in Appendix B.

     

	 	“The
    Leased Premises” 	–	As
    specified in Appendix A.

     

	 	“Delivery
    Date” 	–	As
    specified in Appendix A. 

 

	 	2.2.	Any
    modification of this Agreement shall be null and void unless executed in writing and signed by the parties. 
	 	 	 
	 	2.3.	The
    headings of the sections will serve for the purpose of orientation and convenience only, and will not serve for the purpose of interpreting
    the Agreement. 
	 	 	 
	 	2.4.	The
    preamble to this Agreement and Appendixes thereof constitute an integral part hereof. 
	 	 	 
	 	2.5.	This
    Agreement exhausts all the agreements made between the parties and any negotiations, declarations, representations, covenants or
    agreements prior to signing hereof shall be null and void. Verbal statements and notices of the managers, officials and employees
    of the Lessor or anyone acting on its behalf shall not bind the Lessor and the Lessor shall be bound solely by a document lawfully
    signed by its authorized signatories. 
	 	 	 
	 	2.6.	In
    case the Lessee includes a number of members each of the said members shall be obligated individually and collectively to fulfill
    all the undertakings of the Lessee in accordance with this Agreement and in accordance with any other document that is drafted in
    connection therewith. 

 

	3.	Delivery
    of the Leased Premises 

 

	 	3.1.	The
    Lessor undertakes to build the Leased Premises in accordance with the permits, licenses and the relevant statutory provisions and
    deliver the Leased Premises to the Lessee in accordance with the provisions set forth in this Agreement and the specification of
    the shell hereby enclosed with this Agreement as Appendix C no later than the Delivery Date. A minor delay on the Delivery
    Date due to circumstances that are not contingent on the Lessor shall not constitute breach of this Agreement. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	3.2.	A
    protocol that specifying the condition of the Leased Premises and any lack of conformity, if any, between the said in this Agreement
    and the actual condition of the Leased Premises (hereinafter: “Delivery Protocol”) shall be drafted on the Delivery
    Date and shall be signed by the Lessor and/or anyone acting on its behalf on the one hand and by the Lessee on the other hand. The
    Delivery Protocol shall include all notes and reservations of each of the parties however the notes and reservations of one party
    shall not, in and of themselves, impose any responsibility or liability on the other party. 
	 	 	 
	 	3.3.	It
    is agreed that the existence of defects specified in the Delivery Protocol shall not derogate from the obligation of the Lessee to
    receive possession in the Leased Premises on the Delivery Date unless the said defects are material defects that constitute a fundamental
    lack of conformity that prevents the reasonable use of the Leased Premises by the Lessee. 
	 	 	 
	 	3.4.	In
    case of a defect, failure and/or lack of conformity that are in the Leased Premises on the Delivery Date and that are not indicated
    expressly in the Delivery Protocol even though these could have been detected in a reasonable inspection by a reasonable person (not
    an expert) the Lessee shall be deemed to have waived any allegation, right and claim in respect whereof. The Lessee shall not be
    entitled to rely on such a defect, failure and/or lack of conformity as aforesaid and shall be precluded from claiming and obtaining
    from the Lessor any relief or remedy in connection therewith. 
	 	 	 
	 	3.5.	Receiving
    the keys to the Leased Premises by the Lessee shall constitute prima facie proof that the Leased Premises were built and delivered
    to the Lessee in accordance with the provisions set forth in this Agreement and subject to the matters that were expressly noted
    in the Delivery Protocol. 
	 	 	 
	 	3.6.	The
    Term of Lease shall commence on the contractual Delivery Date whether or not the Lessee appeared to receive the Leased Premises on
    the Delivery Date. The Lessee shall be bound by all the obligations applicable to it in respect of the lease contemplated in this
    Agreement and in accordance with the provisions set forth in any law as of the Delivery Date henceforth. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	3.7.	Possession
    of the Leased Premises shall be delivered to the Lessee on the condition that the Lessee fulfilled all its undertakings towards the
    Lessor and towards the Management Company until that date including, however not limited to, payment of all the amounts as required
    in accordance with the provisions set forth in this Agreement and presenting the securities as specified in section 21 hereunder.
    

 

	4.	The
    lease and the Term of Lease 

 

	 	4.1.	The
    Lessor hereby leases the Leased Premises to the Lessee in unprotected lease and the Lessee hereby leases the Leased Premises from
    the Lessor in unprotected lease for a period that shall commence as of the Delivery Date (hereinafter: “Lease Commencement
    Date”) and that shall expire on the date specified in Appendix A (hereinafter: “Term of Lease”) in accordance
    with the terms set forth in this Agreement. 
	 	 	 
	 	4.2.	The
    Lessee shall not be entitled to terminate the lease prior to expiration of the Term of Lease. Termination of use of the Leased Premises
    and/or vacating the Leased Premises by the Lessee prior to expiration of the Term of Lease shall not release the Lessee from its
    obligations in accordance with this Agreement including, however without derogating from the generality of the aforesaid, the undertaking
    of the Lessee to pay the rent to the Lessor, in addition to the maintenance fees and any additional payment that is due to the Lessor
    and to any other third party from the Lessee in accordance with the provisions set forth in this Agreement and/or in accordance with
    the provisions set forth in any law. 
	 	 	 
	 	4.3.	The
    provisions set forth in this section constitute a material condition in this Agreement and their breach shall constitute a fundamental
    breach of this Agreement. 

 

	5.	Knowledge
    of the Leased Premises 

 

The
Lessee declares that it visited the Park, the Building and the Leased Premises, inspected them, their surroundings, their statutory and
physical condition, the plans in respect whereof, the licenses of the Leased Premises, their zoning classification and any other matter
that might affect its engagement in this Agreement and found all in compliance with its requirements and specifications in every respect.
Subject to receiving the Leased Premises in accordance with the provisions set forth in this Agreement the Lessee hereby waives any allegations
regarding a defect and/or lack of conformity and/or any other argument relating to the Leased Premises, its possibilities of use and
its engagement in this Agreement.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	6.	Purpose
    of Lease 

 

	 	6.1.	As
    stated in Appendix A. 
	 	 	 
	 	6.2.	The
    Lessee shall be entitled to use the Leased Premises solely for the purpose of lease and shall not be entitled to deviate from the
    said purpose. 
	 	 	 
	 	6.3.	The
    provisions set forth in this section constitute a material condition in this Agreement and their breach shall constitute a fundamental
    breach of this Agreement.

 

	7.	Rent
    

 

	 	7.1.	The
    Lessee undertakes to pay the rent to the Lessor for the lease of the Leased Premises in the amounts and in the manner as prescribed
    in Appendix A (hereinafter: “the Rent”). 

 

	 	7.1.1.	The
    Rent and the maintenance fees during the Term of Lease and the additional terms of lease, if any, shall be linked to the index and
    shall be paid by the Lessee to the Lessor every quarter in advance on the 1st of the month in the beginning of each quarter
    in addition to statutory VAT as stated in Appendix A. 
	 	 	 
	 	7.1.2.	Payment
    of the Rent and the maintenance fees shall be linked to the index in accordance with the following provisions:

 

	 	“The
    Index” 	–	The
consumer price index (including fruits and vegetables) published by the Central Bureau of Statistics and any similar index even if published
by another official institution or entity and any official index superseding the same, whether or not structured on the same data. In
case there is another index and the Central Bureau of Statistics, the entity or the institution as aforesaid do not determine the ratio
between the said Index and the substitute index the ratio shall be determined by the Chairman of the Board of Director of Bank Leumi
le-Israel Ltd or anyone acting in this capacity at any time and following the request of the Lessor.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	“Base
    Index” 	–	As
    stated in Appendix A.

     

	 	“New
    Index” 	–	The
    last index known on the actual payment date of each payment of the Rent and the maintenance fees.

     

	 	“Linkage
    to the Index” 	–	If
    on the actual payment date of any of the payments of the Rent and the maintenance fees the New Index is higher than the Base Index,
    then this payment shall increase in proportion to the rate of increase of the New Index compared to the Base Index. If on the actual
    payment date of each of the payments of the Rent the New Index is equal or lower than the previous Index, the said payment shall
    remain unchanged. 

 

	 	7.2.	In
    order to facilitate the collection of the Rent, linkage differentials in respect whereof, and any other payment that is due to the
    Lessor from the Lessee, the Lessee undertakes to deliver to the Lessor an authorization to debit its account in the customary form
    in Bank Leumi le-Israel Ltd in 7 days as of the date of signing this Agreement or 7 days prior to the Delivery Date of the Leased
    Premises (upon the earlier). For the avoidance of doubt it is hereby clarified that obtaining the authorization and any use thereof
    that is made by the Lessor shall be deemed as payment solely upon the full and timely payment of all payments that the Lessee owes
    to the Lessor. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	7.3.	In
    case two consecutive and subsequent payments of the Rent and/or any additional amount that is due to the Lessor from the Lessee on
    time in respect of the said payments were not paid, not even in 7 days as of the date of delivery of a written notice by the Lessor
    to the Lessee, all the other payments of the Rent shall be called for immediate repayment and the Lessee shall be obligated to pay
    the full amount of the unpaid Rent in respect of the entire Term of Lease until that date in two business days as of the date of
    receiving the first demand of the Lessor and without derogating from the right of the Lessor to consider the default in payment as
    breach of the Agreement with all ensuing consequences. For the avoidance of doubt it is hereby declared that the collection of the
    Rent in such circumstances shall not be deemed as waiver or agreement on behalf of the Lessor for breach of the Agreement by the
    Lessee. 
	 	 	 
	 	7.4.	For
    the avoidance of doubt the obligation to pay the Rent and all other payments that are due to the Lessor from the Lessee is imposed
    strictly on the Lessee. Failure to submit the bill for the Rent by the Lessor shall not derogate from this obligation of the Lessee.
    
	 	 	 
	 	7.5.	The
    Lessor shall allocate any amount received from the Lessee at its sole discretion, at the expense of the amounts that the Lessee owes
    the Lessor at the time. 
	 	 	 
	 	7.6.	Under
    no circumstances the Lessee shall be entitled to offset any amount of the Rent and/or the maintenance fees and/or from any other
    amount that the Lessee owes to the Lessor. In addition, under no circumstances the Lessee shall have a right of lien in the Leased
    Premises or any other right with relation to the Leased Premises except for the right of lease in accordance with this Agreement.
    
	 	 	 
	 	7.7.	The
    provisions set forth in this section constitute a material condition in this Agreement and their breach or breach of any thereof
    shall constitute a fundamental breach of this Agreement. 

 

	8.	Taxes,
    fees and other payments 

 

	 	8.1.	In
    addition to the Rent the Lessee undertakes to make the following payments during the Term of Lease (hereinafter: “Lessee’s
    Payments”). 
	 	 	 	 
	 	 	8.1.1.	All
    taxes, fees, municipal taxes, levies, mandatory payments and expenses (hereinafter collectively: “Taxes”) whether
    governmental, municipal and/or other that are paid and/or that will be paid in the future, whether existing today and whether imposed
    in the future in respect of the Leased Premises and use thereof, including in respect of the relative share of the Leased Premises
    in the common property and the public areas of the Park and the business conducted therein, to the extent that these Taxes apply
    to a lessee or a possessor of a property. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	8.1.2.	The
    fees and payments in respect of the water and electricity meters and installation thereof. 
	 	 	 
	 	8.1.3.	VAT
    imposed on the Rent and on any other payment that is paid by the Lessee in accordance with this Agreement and that is paid together
    with each payment in respect of which it is paid. 
	 	 	 
	 	8.1.4.	Stamp
    duty applicable to this Agreement, Appendixes thereof and to any other document in connection with this Agreement and in respect
    whereof. 
	 	 	 
	 	8.1.5.	All
    fees and payments relating to the consumption of water and electricity in the Leased Premises and that apply to the installation
    and use of a telephone during the Term of Lease. 
	 	 	 
	 	8.1.6.	Any
    expense that arises as a result of unreasonable and/or irregular use of the Leased Premises and surroundings thereof including, however
    without derogating from the generality of the aforesaid, expenses in respect of waste disposal due to waste produced by the Lessee,
    repair of the sewage system and the like. 
	 	 	 
	 	8.1.7.	Additional
    obligations as imposed by law and/or if specified in Appendix A. 

 

	 	8.2.	In
    case any of the payments specified above derives from obligations that apply to the Building as a whole and/or the entire common
    property in the public areas in the Park the Lessee shall pay a relative share that will be calculated according to the ratio between
    the gross area of the Leased Premises and the gross area of the Building.
	 	 	 
	 	8.3.	In
    case the Lessee does not make any of the payments applicable to it immediately after receiving the demand of the competent authority
    and/or the demand of the Lessor then without derogating from this obligation the Lessor shall be entitled to make these payments
    at the expense of the Lessee after delivering a prior notice of two business days to the Lessee and the Lessee shall be obligated
    to return to the Lessor all the amounts that were paid by the Lessor as aforesaid in 7 days as of the date of receiving the first
    demand of the Lessor, in addition to 10% in respect of the expenses made by the Lessor for handling these matters. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	8.4.	Immediately
    after signing this Agreement the Lessee undertakes to notify to the municipality regarding this Lease Agreement and its possession
    of the Leased Premises as of the Delivery Date. In addition, the Lessee undertakes and declares that it is precluded from notifying
    the municipality regarding the termination of its possession of the Leased Premises and/or request an exemption from payments of
    municipal taxes in respect of vacant property even if the Lessee ceases to use the Leased Premises during the Term of Lease and/or
    the option term, as the case may be, whether in whole or in part, for any reason, and the Lessee shall continue to be the possessor
    of the Leased Premises, for all intents and purposes, for the purpose of paying municipal taxes during the entire Term of Lease and/or
    the option term, to the extent that the Lessee exercised the option. 
	 	 	 
	 	8.5.	The
    provisions set forth in this section constitute a material condition in this Agreement and their breach or breach of any thereof
    shall constitute a fundamental breach of this Agreement. 

 

	9.	Non-applicability
    of tenancy protection laws 

 

The
Lessee declares and confirms that tenancy protection laws shall not apply to the lease contemplated in this Agreement and this lease
is unprotected lease and the Lessee shall not be deemed as a protected tenant. Therefore, the Lessee shall be obligated to vacate the
Leased Premises upon expiration of the Term of Lease and return the Leased Premises to the Lessor when the Leased Premises are free from
any person and article.

 

The
Lessee declares that it is aware that the construction of the Building where the Leased Premises are situated and the construction of
the Leased Premises themselves was completed after 26 of Av 5728 (August 20, 1968) and that the Leased Premises are leased in unprotected
lease.

 

The
Lessee declares that it is aware that the Leased Premises were not leased for key money and that it did not pay to the Lessor any amount
as key money or as participation in the investments in construction and it shall not be entitled to receive from the Lessor any amount
in respect of vacating the Leased Premises or for any other reason and it undertakes not to argue that the tenancy protection laws apply
to the lease contemplated in this Agreement.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	10.	Repairs,
    maintenance, management and services 

 

	 	10.1.	The
    Lessor undertakes to provide to the common property in the Building cleaning and maintenance services in the scope and in the standard
    that will be determined solely by the Lessor and provided that they maintain the Leased Premises in working order and in reasonable
    condition. 
	 	 	 
	 	10.2.	In
    return for performance of the said services the Lessor shall be entitled to collect from the lessees in the Building, including the
    Lessee, maintenance fees that shall be equal to the total amount of all the expenses and payments of any kind that the Lessor pays
    in the performance of the services in addition to 15% and in addition to statutory VAT (hereinafter: “Total Maintenance
    Fees”). 
	 	 	 
	 	10.3.	The
    part of the Lessee in the total Maintenance Fees (hereinafter: “Maintenance Fees”) shall be determined according
    to the criteria set out by the Lessor and that shall include one or more of the following components: 

 

	 	10.3.1.	The
    ratio between the gross area of the Leased Premises and the total gross area possessed by lessees in the Leased Premises, except
    for the Lessor (as long as the Lessor does not make actual commercial use not for the purpose of managing and providing maintenance
    services in the Park in the area it possesses).
	 	 	 
	 	10.3.2.	The
    type, nature, number and cost of the services that are provided to a particular lessee or to particular leased premises or to a particular
    type of leased premises that by their nature require more services than other leased premises in the Building, whether severally
    and whether for a certain type of businesses or in accordance with the type or number of customers. 
	 	 	 
	 	10.3.3.	Additional
    or other relevant data, at the sole discretion of the Lessor. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	10.4.	The
    Lessor shall have sole discretion to determine and change the ratio of distribution of the expenses among the different lessees as
    determined by the Lessor from time to time, to the extent that this is required according to data that the Lessor will hold and charge
    from any lessee special expenses that were made in connection with the business of that lessee, at the discretion of the Lessor.
    In such circumstances as aforesaid the calculation of the relative part of the Lessee in the management expenses shall be determined
    as follows: the expenses that were allocated to a particular leased premises or to a part of the leased premises shall be subtracted
    from the total amount of all expenses (if subtracted as aforesaid) and the balance of the amount shall be divided among the other
    lessees in the Building, including the Lessor, according to a ratio to be determined in accordance with the provisions set forth
    in section 10.3 above. 
	 	 	 
	 	10.5.	From
    time to time and at its sole discretion, and to the extent that this is possible, the Lessor shall be entitled, however not obligated,
    to allocate part of the expenses for a particular type of leased premises (hereinafter: “Allocation”) and charge
    the said expense from the lessees of that particular type of leased premises. 
	 	 	 
	 	10.6.	In
    case a certain expense or certain expenses were allocated to a particular leased premises or to part of the leased premises as aforesaid
    the expense shall be divided among the leased premises to which the expense was allocated, among themselves, in accordance with the
    provisions set forth in section 10.3 above. 
	 	 	 
	 	10.7.	The
    Lessee declares and confirms that it does not and will not have any demands, allegations or claims in connection with the Allocation
    of the expenses as aforesaid towards the Lessor and/or anyone acting on its behalf and that it shall not present any demand to reduce
    its share in the Maintenance Fees. 
	 	 	 
	 	10.8.	As
    part of the cleaning and maintenance services the Lessor shall be entitled to provide services in the Building as specified hereunder,
    at its discretion (hereinafter: “the Services”) whether by itself and whether by subcontractors on its behalf:
    

 

	 	10.8.1.	Management,
    operation, repair, preservation protection, maintenance, retrofitting, whitewashing, painting, cleaning, maintenance, lighting and
    insurance and all with respect to the public areas and of equipment, systems, facilities and different areas of the public areas
    that are used by and for the wellbeing of the lessees and/or the visitors in the Building, equipment, accessories, areas and items
    that serve and/or that are used by the Building and/or its lessees or users thereof and that are not owned and/or are under the responsibility
    of any lessee, including, however not limited to: lighting, air conditioning systems (if any), sewage systems, drainage systems,
    waste disposal and garbage systems, elevators and the like. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	10.8.2.	Gardening
    and protecting the gardens and the vegetation in the public areas, to the extent that are any, including in areas adjoining the Building.
    
	 	 	 
	 	10.8.3.	Maintenance,
    inspection, repair and waterproofing of roofs and basements in the Building, to the extent that these constitute public areas. 
	 	 	 
	 	10.8.4.	Cleaning
    and maintenance of the public parking lots. 
	 	 	 
	 	10.8.5.	Installation,
    maintenance, inspection and repair of directional signage and informational signage in the areas of the Leased Premises. 
	 	 	 
	 	10.8.6.	All
    expenses and payments in connection with the management of the Building. 
	 	 	 
	 	10.8.7.	Collection
    payments that the Lessee owes or that will owe in accordance with this Agreement for the Lessor for the purpose of managing the Building.
    
	 	 	 
	 	10.8.8.	Publishing
    of a code, procedures, daily instructions and any change, update, addition or amendment thereof in anything related to the use of
    the Park and supervising the guarding services and adhering to performance. 
	 	 	 
	 	10.8.9.	Signing
    contracts and agreements with outside entities for the purpose of performing the Services, supervision, collection and enforcement
    of the undertakings of the outside entities. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	10.9.	The
    Lessor shall be entitled to set out from time to time procedures and regulations pertaining to the management of the Building and
    maintenance thereof and the Lessee undertakes to observe these procedures as prescribed from time to time. 
	 	 	 
	 	10.10.	The
    Lessee shall grant to the Lessor access to the Leased Premises for the purpose of performing any work or maintenance in the Leased
    Premises as required for the purpose of performing the Services or any thereof to the Leased Premises and/or to other leased premises
    and/or to the Building on the condition that the work will be performed, to the extent possible, in coordination with the Lessee
    and in a manner that will not cause a material disruption to the management of the business of the Lessee in the Leased Premises
    beyond necessary and upon completion of the work the Leased Premises shall be restored to their previous condition, to the extent
    possible. 
	 	 	 
	 	10.11.	The
    Lessor shall be entitled to employ employees, subcontractors, suppliers, advisors, accountants, advocates etc. as it deems fit for
    the purpose of fulfilling its obligations in accordance with this Agreement. The expenses of the Lessor for all of these works shall
    be included in the total Maintenance Fees. 
	 	 	 
	 	10.12.	The
    Lessee undertakes to pay to the Lessor the Maintenance Fees in accordance with the bills that the Lessor submits to the Lessee on
    the dates determined by the Lessor. 
	 	 	 
	 	10.13.	The
    books of management and books of account of the Lessor shall serve prima facie evidence of their veracity in anything related to
    the payments that were made by the Lessee to the Lessor and in respect of any other matter specified and noted in the books of the
    Lessor. 
	 	 	 
	 	10.14.	The
    refusal and/or unwillingness and/or avoidance of the Lessee to receive any service and/or its wish to terminate the performance of
    the Services, in whole or in part, shall not release the Lessee from its undertakings in accordance with the provisions set forth
    in this section 10. 
	 	 	 
	 	10.15.	The
    Lessor shall be entitled to perform all the Services specified above by anyone acting on its behalf and/or any other entity and/or
    entities as determined by the Lessor (hereinafter: “Management Company”). The Lessor shall be entitled to demand
    from the Lessee at any time to sign a maintenance contract with the Management Company in the form to be determined by the Lessor
    and provided that Maintenance Fees and/or inspection fees that the Lessee is required to pay shall be determined according to the
    principles set out in section 10.3 above. In this regard the Lessor shall be entitled to instruct the Lessee to pay directly to the
    Management Company and the signature of the Lessee on this Agreement shall constitute a direct undertaking towards the Management
    Company. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	10.16.	The
    Lessee undertakes to protect the Leased Premises, their cleanliness and proper maintenance, use the Leased Premises in a prudent
    and reasonable manner and keep the Leased Premises in good and operable condition and in working order, repair at its expense any
    breakdown, failure or defect and perform any repair that is required in the Leased Premises, except for repairs that are required
    in respect of reasonable wear and works that are part of the Maintenance Fees paid by the Lessee. The said in this section shall
    not impose on the Lessor any obligation regarding the proper maintenance of the Leased Premises. 
	 	 	 
	 	10.17.	In
    case the Lessor decides and/or is required by any competent authority, whether municipal, governmental or other, to provide maintenance
    and inspection services of any kind in any public area and/or in any other open area in the area of the Park and/or in any building
    and/or facility designated to serve or to be used by the users of the Park or any part thereof, the Lessee shall pay to the Lessor
    additional Maintenance Fees as specified hereunder (hereinafter: “Additional Maintenance Fees”): the Additional
    Maintenance Fees that shall be paid by all the possessors of the buildings in the Park shall be equal to the total amount of all
    the expenses and the payments that the Lessor incurs in the performance of the maintenance services as aforesaid, in addition to
    15%. The part of the Lessee in the Additional Maintenance Fees shall be calculated according to the ratio between the gross area
    of the Leased Premises and the gross total built area of all buildings (including all floors thereof) in the Park and that are actually
    possessed by lessees or owners except for the Lessor (as long as the Lessor does not make actual commercial use not for the purpose
    of managing and maintaining the Park in the areas it possesses) and/or in accordance with the principle set forth in section 10.3
    above. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	11.	Use
    of the Leased Premises 

 

	 	11.1.	The
    Lessee shall obtain from the competent authorities all the licenses and permits that are required for the purpose of managing its
    business in the Leased Premises in accordance with the purpose of lease including a certificate issued by the Ministry of Health,
    the Ministry of Environmental Protection and Rehovot Municipality. The Lessee undertakes to conduct its business solely in accordance
    with the terms set forth in the said licenses, in accordance with the provisions set forth in any law and in accordance with the
    requirements set forth by any competent authority. 
	 	 	 
	 	11.2.	The
    Lessee declares that it reviewed the demands made by the competent authorities that constitute a condition for obtaining the licenses
    as stated in this section and that the Lessor shall not be held liable in any manner in case the Lessee fails to obtain the said
    licenses. It is emphasized that obtaining the licenses and the permits by the Lessee shall not constitute grounds for the failure
    of the Lessee to fulfill its undertakings in accordance with this Agreement, including default in payment of the Rent.
	 	 	 
	 	11.3.	Without
    derogating from the generality of the aforesaid the Lessee undertakes, as a condition for delivery of possession in the Leased Premises,
    to obtain a fire safety certificate for the Leased Premises from the fire department in the Rehovot area and for that purpose to
    present to the fire department any certificate that is required, install any facility and/or system that are required and all at
    its expense and under its responsibility. 
	 	 	 
	 	11.4.	The
    Lessee shall not hold any materials, tools, equipment, products, stock and any other chattel (hereinafter collectively: “Chattel”)
    outside the Leased Premises without obtaining the approval of the Lessor. In any event in which any Chattel of the Lessee is kept
    outside the Leased Premises without obtaining the approval of the Lessor in connection with the Lessor shall be entitled to remove
    the said Chattel from the premises at the expense of the Lessee and the Lessor shall not be responsible for its integrity. 
	 	 	 
	 	11.5.	The
    Lessee shall uphold and observe all laws, regulations and bylaws applicable to the Leased Premises, use thereof and the business,
    the works and the actions performed therein. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	11.6.	The
    Leased Premises or any part thereof may not be used in any manner that will cause noises, odor, vibrations, pollution, smoke, dust
    and other nuisances and obstacles that deviate from reasonable use while taking into account the nature of the Park in general and
    the nature of the close environment of the Leased Premises in particular. 
	 	 	 
	 	11.7.	The
    Lessee shall not transmit to the sewage system waste whose quality or quantity may harm the said system or harm its working order
    or that may risk the ordinary use of water sources. For the purpose of this paragraph – the sewage system – central sewage
    or cesspits and canalization and drainage systems and water purification facilities, to the extent that there are any. The Lessee
    shall take measures to assure that no solid materials are found in the wastewater that may harm or clog the pipeline or the canals
    and harm the sewage pipelines the inspection chambers, the metering devices, the purification facilities. 
	 	 	 
	 	11.8.	Without
    derogating from the generality of the aforesaid, the Lessee undertakes to approach the Ministry of Environmental Protection and receive
    all the instructions and directions pertaining to treatment of wastewater and waste and to follow all these instructions and directions
    at its expense. 
	 	 	 
	 	11.9.	The
    Lessee undertakes not to hang, install or paint any signs, marks or any other type of advertisement in any part of the Building where
    the Leased Premises are situated without obtaining the prior approval of the Lessor. The Lessee shall be entitled to receive, at
    its expense, a sign at the entrance to the Park, and in the Building and in the floor where the Leased Premises are situated and
    in the form that is customary in the Park. 
	 	 	 
	 	11.10.	The
    Lessee undertakes not to use any place located outside the Leased Premises however solely for the purpose of accessing the Leased
    Premises in the manner and in the form as prescribed by the Lessor from time to time.
	 	 	 
	 	11.11.	The
    Lessee undertakes not to use the Leased Premises and any materials and devices held therein and not to perform any activity in the
    Leased Premises if the said use and/or activity include risks that deviate from the risks that are insured by the Lessee unless the
    Lessor grants its prior and written approval in connection therewith. In case the Lessor granted its approval as aforesaid, the Lessee
    undertakes to arrange insurance against any damage and harm to the body and property that might be caused due to the said risks to
    the satisfaction of the Lessor and without derogating from the right of the Lessor to arrange the add insurances by itself and the
    Lessee shall be obligated to return to the Lessor any amount that the Lessor spends for that purpose immediately upon receiving the
    Lessor’s notice. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

 

	 	11.12.	The
    Lessee shall use the Leased Premises and surroundings thereof in such manner that will not cause any disturbance to the other lessees
    in the Building and while protecting and cleaning the common property in the Building and facilities thereof. 
	 	 	 
	 	11.13.	Without
    derogating from the said in this section above, the Lessee undertakes that it shall not make in the Leased Premises any use that
    causes a nuisance and/or a consequence that is in violation of the provisions set forth in any law and/or this Agreement and, without
    derogating from the generality of the aforesaid, the Lessee shall not use the Leased Premises in any manner that requires and/or
    that creates, whether directly or indirectly, chemical compounds and/or smoke and/or gases and/or bad odors and/or other active substances
    that may and/or that can harm the environment in any manner. 
	 	 	 
	 	11.14.	The
    provisions set forth in this section constitute a material condition in this Agreement and their breach or breach of any thereof
    shall constitute a fundamental breach of this Agreement. 

 

	12.	Finish
    works and changes the Leased Premises 

 

	 	12.1.	The
    Lessee undertakes not to implement and perform any changes, repairs, enhancements, additions or any other construction works in any
    manner in the Leased Premises (hereinafter collectively: “Works”) without obtaining the prior and written approval
    of the Lessor in connection therewith. The Lessor may withhold approval of the said Works at its sole discretion. 
	 	 	 
	 	12.2.	It
    is emphasized that no bars or air conditioners may be installed in the Leased Premises without obtaining the prior and written approval
    of the Lessor. 
	 	 	 
	 	12.3.	In
    case Works were implemented without obtaining the approval of the Lessor, then without derogating from the right of the Lessor to
    consider this breach of contract, and without derogating from the right of the Lessor to seek any relief and remedy arising therefrom
    (in accordance with the provisions set forth in this Agreement and/or in accordance with the provisions set forth in any law) the
    Lessor shall be entitled to: 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	12.3.1.	Demand
    from the Lessee to demolish the Works, in whole or in part and/or dismantle the Works and/or remove the Works from the Leased Premises.
    In such circumstances as aforesaid the Lessee shall be obligated to perform all the repairs in the Leased Premises that are required
    in connection therewith so as to restore the Leased Premises to their condition prior to the implementation of the Works and complete
    all these actions in 14 days as of the date of receiving the demand of the Lessor. In case the Lessee fails to act in the said manner,
    the Lessor shall be entitled to take these actions at the expense of the Lessee and the Lessee shall reimburse the Lessor for any
    damage and expense caused to the Lessor in connection therewith – in 7 days as of receiving the first demand of the Lessor.
    
	 	 	 
	 	12.3.2.	To
    leave in its possession the Works, in whole or in part, upon delivery of an express written notice and the Lessee agrees that after
    delivery of such notice as aforesaid the Works shall be the exclusive property of the Lessor and the Lessee shall not be entitled
    to any payment in respect whereof. 

 

	 	12.4.	In
    case Works were implemented after obtaining the approval of the Lessor, at the time of vacating the Leased Premises by the Lessee
    the Lessor shall notify the Lessee regarding its choice according one of the following: 

 

	 	12.4.1.	To
    demolish and/or dismantle and/or remove the Works from the Leased Premises. In such circumstances the Lessee shall implement all
    the repairs in the Leased Premises that are required as a result of the said at its expense for the purpose of restoring the condition
    of that part of the Leased Premises where the Works were implemented to its condition prior to the performance of the Works and to
    complete all the said works no later than the Term of Lease as stated in this Agreement. In case the Lessee failed to take the said
    action the Lessor shall be entitled to take the said action instead of the Lessee. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	12.4.2.	Or
    - leave the Works in the Leased Premises, and in such circumstances the Works shall become the property of the Lessor and the Lessee
    shall have not be entitled to any payment in respect whereof. 

 

	 	12.5.	Without
    derogating from the generality of the aforesaid regarding the implementation of changes in the Leased Premises, it is clarified and
    agreed that the Lessee shall not be entitled to build a gallery in the Leased Premises without obtaining the prior and written approval
    of the Lessor. A gallery for the purpose of this matter means – the addition of floor to the area of the Leased Premises that
    will be built in the space of the Leased Premises between the floor and the ceiling. 
	 	 	 
	 	12.6.	The
    Lessee declares and confirms that it is aware that the construction of the gallery, if this is possible in accordance with the Urban
    Building Plan (UBP) that is applicable to the land and/or the Building is subject to obtaining a construction permit from the competent
    planning authorities. 
	 	 	 
	 	12.7.	In
    case the Lessee wishes to construct a gallery in the Leased Premises the Lessee shall seek the prior and written approval of the
    Lessor and, in addition – to obtain a construction permit by law for the purpose of constructing the addition and to incur
    all levies and fees that are paid to the Israel Land Administration and/or the Local Planning and Building Committee and/or the municipality
    and/or to any other person or entity as a condition for obtaining the construction permit, including a betterment levy, and this
    shall not impose on the Lessor any liability, whether a liability for planning or any other liability. 
	 	 	 
	 	12.8.	Any
    construction plan of a gallery and/or an additional structure shall be first submitted for the approval of the Lessor and the Lessor
    shall be entitled to reject such a plan as aforesaid for any reason, or make its approval subject to conditions, at its sole discretion.
    The Lessor shall be entitled, inter alia, to refuse to submit a plan as aforesaid in case it is of the opinion that the approval
    of such a plan as aforesaid shall harm any of its construction rights or any other of its rights.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	12.9.	In
    case the Lessee builds a gallery after obtaining the approval of the Lessor the Lessee shall be obligated to pay to the Lessor additional
    Rent in a monthly amount that will be equal to the product of the area of the gallery and/or the addition multiplied by the monthly
    Rent per 1sqm (the monthly Rent divided by the net area of the Leased Premises, prior to the construction of the gallery). The additional
    Rent as aforesaid shall be paid as of the date of completing the construction of the floor of the gallery and/or the roof of the
    additional structure and shall be deemed as Rent for all intents and purposes and the provisions set forth in this Agreement regarding
    the payment of the Rent shall apply thereto. 
	 	 	 
	 	12.10.	Upon
    expiration of the Term of Lease the provisions set forth in section 12.4 above shall apply to the gallery that was constructed with
    the approval of the Lessor as aforesaid. 
	 	 	 
	 	12.11.	In
    case the Lessee constructs a gallery in the Leased Premises without obtaining a construction permit by law and/or without obtaining
    the prior and written approval of the Lessor in connection therewith the Lessor shall be entitled, at its sole discretion, during
    the Term of Lease or thereafter, to demand from the Lessee to demolish the gallery or any part thereof or any infrastructure that
    was built or that was laid by the Lessee for its construction and in case the Lessee fails to perform the said action – to
    perform the said action in its place. The Lessee hereby gives irrevocable instructions to the Lessor to enter the Leased Premises
    and perform the said demolition works at any time and at the discretion of the Lessor, and the Lessee shall be precluded from denying
    the entrance of the Lessor to the Leased Premises for the purpose of performing the demolition works. The Lessee shall incur all
    the expenses the Lessor incurs in connection with the performance of the demolition works and the securities that were provided by
    the Lessee and the authorization letter in accordance with this Agreement shall also be used for the purpose of fulfilling the undertaking
    of the Lessee as stated above. 
	 	 	 
	 	12.12.	In
    addition, and without derogating from the right of the Lessor to consider the construction of the gallery as breach of contract,
    and without derogating from the right of the Lessor to seek any relief and remedy in connection therewith (in accordance with the
    provisions set forth in this Agreement and/or in accordance with the provisions set forth in any law) the Lessor shall be entitled
    to receive payment of liquidated damages that are equal to the product of the area of the gallery multiplied by 125% of the monthly
    Rent per 1sqm (125% of the monthly Rent divided by the net area of the Leased Premises prior to the construction of the gallery)
    during the entire period the gallery that was constructed without obtaining the approval of the Lessor and/or without obtaining a
    construction permit by law. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	12.13.	In
    case the Lessor is obligated to make payment for non-conforming use or a betterment levy in respect of the construction of the gallery
    by the Lessee, whether or not the approval of the Lessor was obtained, the Lessee shall be obligated to pay these amounts or return
    these amounts to the Lessor in 7 days as of the date of delivery of a notice of demand by the Lessor. 
	 	 	 
	 	12.14.	Breach
    of the provisions set forth in this section shall constitute a fundamental breach of the Agreement. 

 

	13.	Electricity
    

 

	 	13.1.	The
    Lessee declares that it is aware that the Lessor holds exclusive rights towards Israel Electric Corp. in anything related to the
    consumption and supply of electricity to the Leased Premises. The Lessee hereby waives absolutely and irrevocably its right to contract
    with Israel Electric Corp. in anything related to the supply of electricity to the Leased Premises and confirms that the Lessor shall
    be solely entitled to contract with the IEC for the purpose of supplying electricity to the Leased Premises and the Lessee undertakes
    to act in accordance with the terms and provisions set forth in Appendix D of this Agreement. 
	 	 	 
	 	13.2.	The
    Lessor shall install in the Building a facility for the supply of electricity in bulk. The Lessee undertakes to pay to the Lessor
    and/or the Management Company any payment that is required in connection with the supply of electricity in accordance with the provisions
    set forth in Appendix D and during the entire Term of Lease. 
	 	 	 
	 	13.3.	As
    a condition for delivery of possession in the Leased Premises the Lessee shall present to the Lessor a written certificate issued
    by a certified electrical inspector with relation to the electricity systems that were installed in the Leased Premises by the Lessee
    and/or anyone acting on its behalf in the customary form in the Lessor. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	14.	Furniture
    and equipment 

 

The
Lessee shall be entitled to furnish the Leased Premises and install equipment therein provided that the installation of the furniture
and equipment shall not cause damage to the Leased Premises.

 

	15.	Protecting
    the Leased Premises 

 

	 	15.1.	The
    Lessee undertakes to use the Leased Premises in a prudent and reasonable manner and to maintain the Leased Premises and surroundings
    thereof clean and to prevent any breakdown and damage to the Leased Premises including all the facilities that serve the Leased Premises
    themselves or together with other leased premises. 
	 	 	 
	 	15.2.	The
    Lessee shall be obligated to repair promptly any damage and/or breakdown that are caused to the Leased Premises and the facilities,
    as stated in section 15.1 above, and to replace them immediately with another of the same type and model of any accessory installed
    in the Leased Premises that was lost or became corrupted. 
	 	 	 
	 	15.3.	In
    case the Lessee failed to perform any repair the Lessee is obligated to perform as aforesaid or failed to replace any unit that the
    Lessee was obligated to replace as aforesaid, the Lessor shall be entitled, however not obligated, to perform the said action at
    the expense of the Lessee and in any event the Lessee shall be obligated to compensate the Lessor fully for any damage, breakdown,
    expense, loss and corruption as aforesaid. 
	 	 	 
	 	15.4.	The
    provisions set forth in this section constitute a material condition in this Agreement and their breach and breach of any thereof
    shall constitute a fundamental breach of this Agreement. 

 

	16.	Third
    party liability 

 

	 	16.1.	The
    Lessee shall be held liable towards the Lessor, any employee of the Lessor and anyone acting on its behalf and any third party, for
    any damage of any kind caused to any person and property including, however without derogating from the generality of the aforesaid
    – to visitors in the Leased Premises, the employees of the Lessee and to any person that stays in the area of the Leased Premises
    and that was caused due to the condition of the Leased Premises and/or the equipment installed therein and/or the work, the business
    or an act or omission that was committed in the Leased Premises and/or the conduct of the Lessee and/or its employees and/or authorized
    persons and/or suppliers and/or service providers that are in the area of the Leased Premises or close surroundings thereof and that
    are in the service and/or following the permission of the Lessee and/or by any other person and entity whether or not these are located
    in the Leased Premises with permission, whether random and whether in any other manner. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	16.2.	Without
    derogating from the provisions set forth in section 16.1 above, the Lessee undertakes to take all measures to dismiss any demand
    and/or claim that is brought against the Lessor in respect of any damage as stated in section 16.1 above as aforesaid and to indemnify
    the Lessor for the amount of all the payments that the Lessor is obligated to pay by virtue of a demand and/or claim as aforesaid
    and in respect of all its other expenses in connection therewith immediately upon receiving the first demand of the Lessor. 
	 	 	 
	 	16.3.	The
    provisions set forth in this section constitute a material condition in this Agreement and their breach or breach of any thereof
    shall constitute a fundamental breach of this Agreement. 

 

	17.	Insurances
    

 

	 	17.1.	 

 

	 	17.1.1.	Without
    derogating from the liability and undertakings of the Lessee in accordance with the provisions set forth in this Agreement and in
    accordance with the provisions set forth in any law the Lessee undertakes to purchase at its expense and keep in effect the insurances
    specified hereunder in the scope of coverages specified beside them (hereinafter: “Insurances of the Leased Premises”)
    from a legally licensed and reputable insurance company in Israel during the entire Term of Lease: 

 

	 	A.	Property
    insurance – in full value and in reinstatement value in respect of the content of the Leased Premises, the equipment of the
    Leased Premises, equipment serving the Leased Premises and that is owned and/or under the responsibility of the Lessee and that is
    located outside the Leased Premises in the area of the Building and any repair, change, improvement, renovation and addition to the
    Leased Premises that were implemented and/or that will be implemented by the Lessee and/or for the Lessee and furniture, equipment,
    facilities and stocks of any kind against the customary risks in “extended fire” insurance including the following risks:
    loss or damage as a result of fire, smoke, lighting, explosion, earthquake, riots, strikes, willful damage, flood, damage by storm,
    damage caused by vehicles and aircrafts, damage caused by water and other fluids and splitting of pipes, damage caused by sonic boom,
    damage by a collision and break-in. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	B.	Consequential
    loss insurance due to the risks enumerated in subsection A above for an indemnification period that shall not fall below 12 months.
    
	 	 	 
	 	 	The
    insurances specified in subsections A and B above shall include an express condition according to which the insurer waives any right
    of subrogation towards the Lessor and/or the Management Company and/or anyone acting on their behalf and/or towards the other lessees
    and/or possessors in the Building and/or their employees and managers in whose insurance policies there is a clause regarding waiver
    of the right of subrogation towards the Lessee and provided that the waiver of the right of subrogation shall not apply in favor
    of a person who caused willful damage.
	 	 	 
	 	 	The
    Lessee undertakes to amend the sum insured in respect of the insurances specified in subsections A and B above, from time to time,
    so that these amounts always reflect the full value of the insured property.
	 	 	 
	 	C.	Third
    party liability insurance – providing insurance coverage for the liability of the Lessee towards any third party, including
    its guests, invitees, customers, the Lessor and the Management Company and anyone acting on their behalf and in their name, in a
    liability limit that shall not fall below an amount in NIS equal to $1,000,000 (one million U.S. dollars) per event and for an annual
    insurance period. This insurance shall not be subject to any restriction regarding liability arising out of fire, explosion, panic,
    hoisting, loading and unloading devices, defective sanitary fixtures, poisoning, anything harmful in foods and beverages and claims
    of the National Insurance Institute. The insurance shall be extended to include the Lessor and the Management Company as additional
    insureds, subject to a cross-liability clause according to which the insurance shall be deemed to have been arranged separately for
    each of the members of the insured, while indicating that the Lessor and/or the Management Company are not responsible for payment
    of any premium. The insurance shall be extended to indemnify the Lessor and the Management Company including in respect of their
    liability as the owners and/or managers of the Leased Premises and in respect of their liability for the acts and/or omissions of
    the Lessee. 

 

	 	D.	Employers’
    liability insurance in respect of the liability of the Lessee towards anyone employed by the Lessee and on its behalf in a liability
    limit that shall not fall below an amount in NIS that is equal to $5,000,000 (five million U.S. dollars) per event and for an annual
    insurance year. This insurance shall not include any restriction regarding contractors, subcontractors and their workers, hours of
    work, baits and poisons and youth employment. The said insurance shall be extended to indemnify the Lessor and/or the Management
    Company in case they are considered as the employers of the employees of the Lessee and/or any thereof. 

 

	 	17.1.2.	The
    Lessee’s Insurances shall include an express condition stating that they supersede any insurance that was arranged by the Lessor
    and/or the Management Company and that the insurer waives any demand or allegation regarding the participation of the insurances
    of the Lessor and/or the Management Company. In addition, the insurer shall undertake that the policies shall not be diminished or
    canceled without delivering a prior and written notice delivered in registered mail at least 60 days in advance to the Lessor and
    the Management Company. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	17.1.3.	The
    Lessee undertakes, without receiving any demand from the Lessor, and no later than the Delivery Date or prior to the date of bringing
    any assets to the Leased Premises, upon the earlier, to present a certificate of insurance to the Lessor in respect of the arrangement
    of the insurances for the Leased Premises in accordance with the “Certificate of Insurance of the Leased Premises” form
    that is enclosed as Appendix E of this Agreement, and signed lawfully by the insurer. The Lessee declares that it is
    aware that presenting the “Certificate of Insurance of the Leased Premises” as aforesaid is a condition precedent and
    a precondition for commencement of the activities of the Lessee in the Leased Premises and/or for bringing any assets as aforesaid
    in circumstances in which the said Certificate was not presented to the Lessor prior to the date specified above. In addition, the
    Lessee undertakes to present to the Lessor original copies of the insurance policies of the Leased Premises in 30 days as of the
    date of receiving the demand of the Lessor.
	 	 	 
	 	17.1.4.	For
    the avoidance of doubt it is clarified that failure to present the certificates of insurance and the insurance policies on time as
    stated above shall not derogate from the undertakings of the Lessee in accordance with this Agreement including, and without derogating
    from the generality of the aforesaid, making any payment that applies to the Lessee, and the Lessee undertakes to uphold all its
    undertakings in accordance with this Agreement even if it is denied from receiving possession in the Leased Premises and/or bringing
    assets to the Leased Premises and/or opening its business in the Leased Premises due to failure to present the certificates of insurance
    and the insurance policies on time. In this regard it is clarified that the arrangement of the said insurances by the Lessee shall
    not derogate or diminish from the undertakings of the Lessee in accordance with this Agreement in any manner. 
	 	 	 
	 	17.1.5.	No
    later than 14 days prior to expiration of the Lessee’s insurances the Lessee undertakes to deposit with the Lessor and/or the
    Management Company a certificate of insurance as stated in section 17.1.3 above in respect of the extension of the effect of the
    Lessee’s insurances for one additional year and in 30 days as of the date of receiving the demand of the Lessor the Lessee
    shall deposit the original copies of the Lessee’s insurances as long as the Lessee possesses the Leased Premises. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	17.1.6.	The
    Lessor and/or the Management Company shall be entitled to inspect the certificates of insurance and/or the insurance policies that
    the Lessee presents as stated above and the Lessee undertakes to implement any change or amendment that is required so as to cause
    them to be compatible with its undertakings. The Lessee declares and warrants that the rights of the Lessor and/or the Management
    Company to inspect and demand changes do not impose on the Lessor and/or the Management Company or anyone acting on their behalf
    any obligation and any liability in respect of the certificates of insurance and the policies as aforesaid including their quality,
    scope and effect or in respect of absence thereof, and it shall not derogate from any obligation imposed on the Lessee in accordance
    with this Agreement, whether or not the Lessor and/or the Management Company demanded it and whether or not they inspected it. 

 

	 	17.2.	The
    Lessee declares that it shall raise no allegations and/or demands and/or claims against the Lessor and/or the Management Company
    and/or other lessees and/or possessors of the Building, subject to mutual waiver of the right of subrogation in their lease agreements
    in respect of any damage for which it is entitled to indemnification in respect whereof, and for which they were entitled to indemnification
    if it had not been for the deductible amount specified in the policy and in accordance with the insurances that the Lessee undertook
    to arrange in accordance with sections 17.1.1A and 17.1.1B and it hereby exempts the Lessor and/or the Management Company and/or
    the other lessees and/or the other possessors in the Building from any liability for damage as aforesaid. 
	 	 	 
	 	 	The
    said in this section shall add and shall not derogate from any other provision set forth in this Agreement and/or in the agreement
    with the Management Company regarding exemption from liability towards the Lessor and/or the Management Company and the liability
    imposed on the Lessee.
	 	 	 
	 	17.3.	The
    Lessee undertakes to uphold all the terms set forth in the policies specified in this section above and to make full and timely payments
    of all insurance premiums and assure that the insurances policies of the Leased Premises are extended from time to time, as required,
    and shall be in effect during the entire Term of Lease. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	17.4.	In
    case the Lessee failed to fulfill its undertakings in accordance with this entire section 17 the Lessor and/or the Management Company
    shall be entitled, however not obligated, to arrange the insurances or any part thereof instead of the Lessee and at its expense
    and/or to pay instead of the Lessee any payment without derogating from the right of the Lessor and/or the Management Company to
    seek any other relief. 
	 	 	 
	 	17.5.	The
    arrangement of the insurances as stated above by the Lessee shall not diminish or derogate in any manner from the undertakings of
    the Lessee in accordance with this Agreement or release the Lessee from its obligation to compensate the Lessor and/or the Management
    Company and/or any other person in respect of any damage that is caused directly or indirectly in connection with the property for
    which it is responsible and/or as a result of the activities or the use of the Lessee in the Leased Premises and/or as a result of
    failure to uphold the provisions set forth in this Agreement by the Lessee. 
	 	 	 
	 	 	Payment
    of any insurance benefits shall solely reduce the amount of indemnification and/or compensation that the Lessor and/or the Management
    Company are entitled to in respect of damage or loss.
	 	 	 
	 	17.6.	The
    Lessee undertakes not to use or allow anyone acting on its behalf to commit any act or omission that might increase the insurance
    expenses applicable to the Lessor and/or the Management Company and/or the other lessees in respect of the insurance of the Building
    or leased premises thereof. 
	 	 	 
	 	17.7.	The
    Lessee undertakes that in case the Lessor and/or the Management Company are obligated to pay additional insurance premiums beyond
    customary due to the activities of the Lessee the Lessee shall pay to the Lessor and/or the Management Company, as the case may be,
    the said additional payment, immediately upon receiving first demand. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	17.8.	 

 

	 	17.8.1.	Without
    derogating from the liability of the parties in accordance with this Agreement, as part of the Services the Lessor, by the Management
    Company, undertakes to purchase the following insurance policies and to keep these insurance policies in effect in the scope of coverage
    as defined by their side: 

 

	 	A.	Property
    insurance – against the customary risks in “extended fire” insurance, including the following risks: fire, smoke,
    lighting, storm, explosion, earthquake, flood, water and splitting damages, strikes, riots, willful damage, aircrafts, sonic boom
    damage, collision and break-in. This policy shall provide insurance coverage for the full value and in full reinstatement value of
    the structure of the Building including attachments thereof and additions and improvements in the Building that were implemented
    by the Lessor and/or for the Lessor. The policy shall include a clause regarding waiver of the right of subrogation against the lessees
    and possessors of areas in the Building including their managers and employees, and provided that the waiver of the right of subrogation
    shall not apply in favor of a person who caused willful damage. 
	 	 	 
	 	B.	Third
    party liability insurance – providing insurance coverage for the liability of the Lessor and/or the Management Company towards
    any third party, including towards the Lessee, its employees and anyone acting on their behalf or in their name. The insurance shall
    be extended to indemnify the Lessee regarding its liability in respect of its activities in the area of the public areas beyond the
    liability limit in accordance with the insurance policies that the Lessee undertook to arrange as part of this Agreement. 
	 	 	 
	 	C.	Employers’
    liability insurance – providing insurance coverage for the liability of the Lessor and/or the Management Company towards anyone
    employed by them. This insurance shall be extended to indemnify the Lessee in case the Lessee is considered to be the employer of
    any of the employees of the Lessor and/or the Management Company. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	D.	Insurance
    against loss of rent in full value for damage caused to the Leased Premises and/or the Building as a result of the risks covered
    in the property insurance specified in section 17.8.1A above or for any other reason. This insurance shall include waiver of the
    right of subrogation against the Lessee, except for willful damage caused by the Lessee and anyone acting on its behalf. 
	 	 	 
	 	E.	All
    risk contractor insurance for the insurance of works, repairs, renovation and maintenance by the employees of the Lessor and/or the
    Management Company and/or contractors and/or their employees. 

 

	 	17.8.2.	The
    Lessor and/or the Management Company, as the case may be, shall charge from the Lessee, as an addition to the management expenses,
    a relative part of the said insurance premiums. In such circumstances as aforesaid, and to the extent that the Lessee pays fully,
    timely and regularly its share in premium as aforesaid, the Lessee shall be exempt from payment of the Rent and management fees during
    the paid in which the use of the Leased Premises was denied from the Lessee and in respect of which the Lessor received damages from
    the insurance company as aforesaid, up to the amount of the damages that the Lessor and/or the Management Company received from the
    insurance company in respect of loss of Rent and/or management fees. 
	 	 	 
	 	17.8.3.	The
    insurance policies of the Lessor shall be available for the review of the Lessee in the offices of the Lessor or the Management Company.
    The Lessee undertakes to uphold all the provisions set forth in the policies and to cooperate with the Lessor and/or the Management
    Company in circumstances of a claim that is filed with the insurance company.
	 	 	 
	 	17.8.4.	For
    the avoidance of doubt, arranging the insurances as stated above by the Lessor and/or the Management Company shall not diminish or
    derogate in any manner from the undertakings of the Lessee in accordance with the provisions set forth in this Agreement and/or in
    accordance with the provisions set forth in any law. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	17.8.5.	For
    the avoidance of doubt it is clarified that the Lessor and/or the Management Company shall be entitled, at their sole discretion,
    to increase the scope of the coverage provided in the said insurances and/or add a coverage that is not specified above and/or avoid
    arranging the insurances specified above and/or diminish their scope. 
	 	 	 
	 	17.8.6.	In
    case of structural damage to the Building the insurance benefits that are paid, if paid in accordance with the policy, shall be first
    used to repair and/or restore the damage, except for circumstances of total loss. 

 

	 	17.9.	The
    parties undertake to take any action that is required for the purpose of exercising the rights in accordance with the insurance policies
    including joining to claims and/or demands that any party submits to the insurer or against it. 
	 	 	 
	 	17.10.	Breach
    of the provisions set forth of this section 17 including any of its provisions or subsections thereof by the Lessee constitutes a
    fundamental breach of the Agreement. 

 

	18.	Access
    of the Lessor to the Leased Premises 

 

	 	18.1.	The
    Lessor and its representatives and anyone acting on its behalf shall be entitled to build additional floors and/or carry out other
    construction works in the Building or surroundings thereof or in the Park and/or to pass through the Leased Premises and/or on the
    Leased Premises any pipelines, ducts and other conduits for water, sewage, canalization, gas, electricity, telephone, telecommunication,
    computer network or any other purpose and to implement any other work or installation in the Leased Premises for the purpose of using
    the property adjacent to the Leased Premises and for any other purpose and provided that the said works as aforesaid are carried
    out in such manner that will reduce the inconvenience and disturbance caused in connection therewith to the extent possible and on
    the condition that the Lessor performs or causes that those that act on its behalf or that act in its name will implement all the
    repairs that are required in the parts of the Leased Premises that were damaged as a result of the implementation of the works as
    aforesaid so as to restore the Leased Premises to their previous condition, to the extent possible. 
	 	 	 
	 	 	The
    Lessee undertakes not to object in any manner to the actions of the Lessor as aforesaid.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	18.2.	The
    Lessor or its representatives shall be entitled, after coordination with the Lessee: 

 

	 	18.2.1.	To
    enter the Leased Premises at any reasonable time so as to inspect the performance of this Agreement. 
	 	 	 
	 	18.2.2.	To
    enter the Leased Premises at any reasonable time and to implement repairs required for the Building or any part thereof in the area
    of the Leased Premises. 
	 	 	 
	 	18.2.3.	In
    the last six months of lease, to enter the Leased Premises during customary hours of work with potential lessees, potential buyers
    or anyone acting on their behalf. 
	 	 	 
	 	18.2.4.	To
    instruct to the Lessee to allow the performance of all the repairs and/or works that are required to be implemented in the area of
    the Leased Premises whether in connection with the Leased Premises and whether in connection with other parts of the Building. 

 

	 	18.3.	The
    Lessee undertakes not to deny from the Lessor access to the Leased Premises in accordance with the provisions set forth in sections
    18.1 and 18.2 above and allow the Lessor and anyone acting on its behalf to implement the works in accordance with the provisions
    set forth in the said sections. 

 

	19.	Prohibition
    on transfer of rights 

 

	 	19.1.	The
    Lessee undertakes not to transfer the lease in the Leased Premises or any part thereof to another and not to deliver, transfer or
    lease the Leased Premises or a part thereof to another, and not to allow another to use the Leased Premises or any part thereof,
    not to include another in the possession of the Leased Premises and/or use and/or benefit from the Leased Premises or any part thereof
    and/or in the business that is conducted in the Leased Premises and not to grant to another any easement or any right in the Leased
    Premises or any part thereof – whether or not for payment and not to transfer, assign, endorse, charge, mortgage or perform
    any other action in its rights in accordance with this Agreement. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	19.2.	In
    case the Lessee is a corporation, no action that constitutes transfer of control in the Lessee and/or the addition of new shareholders
    holding more than 25% of the shares of the Lessee and/or the transfer of more than 25% of the shares of the Lessee (in the event
    of a company) and/or the replacement of a partner and/or the retirement of a partner and/or the addition of a partner (in the event
    of a partnership) shall be performed – without obtaining the prior and written approval of the Lessor. 
	 	 	 
	 	19.3.	The
    provisions set forth in this section constitute a material condition in this Agreement and their breach or breach of any thereof
    shall constitute a fundamental breach of this Agreement. 

 

	20.	Vacating
    the Leased Premises 

 

	 	20.1.	The
    Lessee undertakes that no later than the expiration of the Term of Lease and/or in case this Agreement was terminated by the Lessor
    due to its breach by the Lessee in accordance with the provisions set forth in this Agreement and/or in accordance with the provisions
    set forth in any law, it shall vacate the Leased Premises and shall deliver the Leased Premises when the Leased Premises are free
    from any person and article when the Leased Premises are in good condition, in working order and organized in the manner delivered
    to the Lessee and subject to the provisions set forth in section 12 above and subject to reasonable wear caused by careful and prudent
    use of the Leased Premises by the Lessee in accordance with the provisions set forth in this Agreement. For the avoidance of doubt
    it is hereby agreed that the Leased Premises shall be returned to the Lessor when they are painted or whitewashed by the Lessee and
    at its expense in a color or tint, with materials and in the quality that the Lessor delivered the Leased Premises to the Lessee.
    
	 	 	 
	 	20.2.	In
    case the Lessee failed to uphold its undertakings in accordance with the provisions set forth in section 20.1 above, then without
    derogating from the right of the Lessor to exercise its rights in any manner it deems fit and without derogating from any other right
    the Lessor may seek in accordance with the provisions set forth in any law and/or agreement under the circumstances of the case,
    the Lessee shall be obligated to pay to the Lessor, and as long as it did not fulfill its undertakings as stated above, adequate
    usage fees in a rate equal to three times of the relative Rent due in respect of the Leased Premises for the period of delay, in
    addition to linkage differentials, VAT and on a daily basis. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	20.3.	The
    adequate usage fees shall be linked to the index and the provisions set forth in section 7.1 above shall apply, mutatis mutandis.
    
	 	 	 
	 	20.4.	In
    addition, the Lessee shall be obligated to pay the taxes and the payments specified in section 8 above and the maintenance fees for
    the Building in addition to VAT in respect of the period of delay in vacating the Leased Premises. It is hereby agreed that in respect
    of payment of the maintenance fees as aforesaid a delay in vacating the Leased Premises for part of a month shall be deemed as a
    delay of one whole month. 
	 	 	 
	 	20.5.	The
    payment date of the usage fees in respect of each day of delay shall be in the beginning of each day of delay as stated above. 
	 	 	 
	 	20.6.	All
    liquidated damages specified in this section 20 were set after careful and prudent evaluation with relation to the reasonable damages
    that are foreseeable at the time of signing this Agreement that are caused to the Lessor due to failure by the Lessee to vacate the
    Leased Premises on time. The Lessee shall not argue that the said amount was set as a fine and the Lessee shall be precluded from
    raising such an argument as aforesaid and the Lessor shall be exempt from proving the existence of actual damage and/or rate thereof.
    
	 	 	 
	 	20.7.	It
    is hereby agreed and declared expressly by the parties that the said in section 20.2 above shall not release the Lessee from its
    undertakings in accordance with section 20.1 above and/or grant to the Lessee any right of any kind including, however without derogating
    from the generality of the aforesaid, any right of lease that is protected by law and/or shall not constitute agreement on behalf
    of the Lessor to extend the Term of Lease in the Leased Premises by the Lessee and/or constitute any waiver on behalf of the Lessor
    to the Lessee and/or derogate or diminish from its rights and/or derogate from the right of the Lessor to seek any other relief and
    remedy in accordance with the provisions set forth in this Agreement and/or in accordance with the provisions set forth in any law,
    including the expulsion of the Lessee from the Leased Premises and additional damages for any damage caused to the Lessor due to
    failure of the Lessee to vacate the Leased Premises on time. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	20.8.	In
    case at the time of vacating the Leased Premises and returning the Leased Premises to the Lessor the Leased Premises are not in the
    condition as stated in section 20.1 above, the Lessee shall be obligated to return to the Lessor, immediately upon receiving its
    first demand, all the expenses that the Lessor spends in order to restore the Leased Premises to the condition in which the Lessee
    was required to return the Leased Premises. In addition, the Lessee shall be obligated to compensate the Lessor for any damage, loss
    and loss of profit arising out of the condition of the Leased Premises and/or the need to restore the Leased Premises to a good condition
    and all works associated therewith. 
	 	 	 
	 	20.9.	Vacating
    the Leased Premises and returning the Leased Premises shall be made in the presence of the Lessor and the Lessee that shall draft
    a protocol of evacuation that reflects the condition of the Leased Premises. In any event in which the evacuation is performed not
    in the presence of the Lessee since the Lessee or anyone acting on its behalf failed to appear on the date that was set to draft
    the protocol the protocol shall be drafted by the Lessor itself and its content shall bind the Lessee. 
	 	 	 
	 	20.10.	In
    addition any right that the Lessor may seek in accordance with the provisions set forth in any agreement and law, in case the Lessee
    fails to vacate the Leased Premises on time the Lessor, or anyone appointed by the Lessor, shall be entitled and authorized, and
    the Lessee hereby grants its approval and authorization in respect whereof, to enter the Leased Premises and break the locks and
    replace the locks of the Leased Premises with other locks and while exercising reasonable force and receive exclusive possession
    therein and remove the chattel of the Lessee therefrom and store it at the expense and under the responsibility of the Lessee in
    any location it deems fit and the Lessee shall be obligated to return to the Lessor all the expenses the Lessor incurs in connection
    therewith. The Lessor shall not be held liable for any damage of any kind caused to the Lessee and/or property thereof, if any, at
    the time of performing the said actions by the Lessor. 
	 	 	 
	 	20.11.	In
    addition to the said in this section – the Lessor shall be entitled to make any transaction – in any manner it deems
    fit – in any item of chattel that was not vacated by the Lessee and that is found in the Leased Premises after the date in
    which the Lessee was required to vacate the Leased Premises. The Lessee hereby empowers the Lessor to sell, charge, transfer, or
    lease any item of chattel as aforesaid to whoever the Lessor deems fit. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	20.12.	The
    provisions set forth in this section constitute a material condition in this Agreement and their breach or breach of any thereof
    shall constitute a fundamental breach of this Agreement.

 

	21.	Securities
    

 

	 	21.1.	As
    a security for the fulfillment of the undertakings of the Lessee in accordance with this Agreement the Lessee shall deliver to the
    Lessor, in 4 (four) days as of the date of signing this Agreement and in any event prior to the date of receiving possession in the
    Leased Premises and as a condition for receipt thereof, an autonomous bank guarantee in the form customary with the Lessor and in
    an amount equal to the Rent and the Maintenance Fees for 6 months of lease in addition to VAT. The guarantee amount shall be linked
    to the index and the provisions set forth in section 7.1 above shall apply to the linkage of the guarantee amount, mutatis mutandis.
    
	 	 	 
	 	21.2.	In
    case the Rent and/or the Maintenance Fees and/or the VAT rates were changed the Lessee shall present to the Lessor, in 14 days as
    of the date of receiving a demand from the Lessor, a substitute or additional bank guarantee that will assure the payments of the
    Rent for a period of 6 months in accordance with the new rates of payment. 
	 	 	 
	 	21.3.	The
    Lessee undertakes to extend the guarantees from time to time no later than 21 days as of the expiration date of the guarantees. In
    case the Lessee failed to act in the said manner the Lessor shall be entitled to exercise the guarantees without releasing the Lessee
    from its obligation to present to the Lessor a new guarantee or guarantees and without releasing the Lessee from any of its undertakings
    in accordance with this Agreement. In case the amount that was exercised in accordance with the guarantee as aforesaid exceeded the
    amount that was due to the Lessor from the Lessee at the time, the balance shall be deposited with the Lessor in a deposit in accordance
    with the terms set forth by the Lessor at the time. The Lessee shall not be entitled to any other compensation and/or payment in
    respect of direct or indirect loss or any other payment in respect of the exercise of the guarantee or the guarantees by the Lessor
    in accordance with this section. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	21.4.	In
    any event payments are due to the Lessor from the Lessee, if any, in accordance with the provisions set forth in this Agreement and/or
    in respect of breach thereof, the Lessor shall be entitled to forfeit the bank guarantee that was deposited with it and to recover
    from the said guarantee a total amount that is equal to the amounts that are due to the Lessor from the Lessee. 
	 	 	 
	 	21.5.	The
    parties agree and declare that the delivery of the bank guarantee by the Lessee to the Lessor and/or its exercise by the Lessor shall
    not derogate from the right of the Lessor to charge from the Lessee, in any possible manner, the losses caused to the Lessor due
    to breach of any of the undertakings of the Lessee in accordance with the provisions set forth in this Agreement and/or in accordance
    with the provisions set forth in any law, or release the Lessee from any of its undertakings in accordance with this Agreement and/or
    grant to the Lessee any right that is protected by law and/or restrict the Lessor in exercising its rights as aforesaid and/or restrict
    the amount of the compensation and/or the damages that the Lessor shall be entitled to receive from the Lessee due to breach of any
    of the undertakings of the Lessee in accordance with this Agreement. 
	 	 	 
	 	21.6.	The
    Lessor shall be entitled to use the bank guarantee and/or the guarantees in accordance with this Agreement at its sole discretion
    and the use of the guarantees or any thereof shall not derogate from any of the rights of the Lessor in accordance with the provisions
    set forth in any agreement and/or law. 
	 	 	 
	 	21.7.	In
    case no payment is due to the Lessor from the Lessee in accordance with this Agreement, the Lessor shall be obligated, in 90 days
    as of the date of returning the Leased Premises to the Lessor by the Lessee, to return to the Lessee the bank guarantee subject to
    presentation of all the receipts and the confirmations regarding the making of each payment applicable to the Lessee and to the satisfaction
    of the Lessor. 
	 	 	 
	 	21.8.	The
    provisions set forth in this section constitute a material condition in this Agreement and their breach shall constitute a fundamental
    breach of this Agreement. 

 

	22.	Indemnification
    of the Lessor 

 

In
any event the Lessee fails to uphold any of its undertakings in accordance with this Agreement the Lessor shall be entitled, however
not obligated, in addition and without derogating from its rights and authorities in accordance with the provisions set forth in this
Agreement and/or in accordance with the provisions set forth in any law, to pay, perform and take any action that was imposed on the
Lessee, and the Lessee shall be obligated to return and pay to the Lessor, immediately upon receiving its demand, any payment and expense
that the Lessor makes in connection therewith.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	23.	Interest
    

 

Without
derogating from any of the rights of the Lessor in accordance with the provisions set forth in this Agreement and/or in accordance with
the provisions set forth in any law then in any event in which the Lessee defaults in making any payment it is required to pay to the
Lessor in accordance with this Agreement the Lessee shall be obligated to pay to the Lessor interest for the amount in default in addition
to statutory VAT. The interest rate shall be the maximum rate permitted by law at the time, and in case there is no restriction on the
interest rate by law – the maximum rate that Bank Leumi le-Israel Ltd charges at the time for unauthorized overdraft in current
loan accounts and the approval of the branch manager of that bank shall be decisive for the purpose of this matter.

 

	24.	Breach
    

 

	 	24.1.	A
    party that fails to uphold or does not fulfill any of its undertakings in accordance with this Agreement shall be obligated to compensate
    the fulfilling party for all losses and damages caused to the fulfilling party in connection therewith and without derogating from
    the right of the fulfilling party to seek any other and/or additional relief and remedy in accordance with the provisions set forth
    in this Agreement and/or in accordance with the provisions set forth in any law including performance in kind or an eviction order.
    
	 	 	 
	 	24.2.	Without
    derogating from the right of the Lessor to seek damages for a higher amount, or to seek any other relief, in circumstances of a fundamental
    breach of this Agreement by the Lessee the Lessor shall be entitled to pre-estimated liquidated damages in an amount that is equal
    to six months of Rent and Maintenance Fees in addition to VAT according to their rate on the date of the breach or on the date of
    making actual payment, upon the higher, whether the Lessor opted to terminate the Agreement or perform it. The parties declare that
    they consider the said amount as adequate and agreed damages for the damage that the parties envision as probabilistic outcome of
    a fundamental breach of this Agreement by the Lessee.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	24.3.	In
    case the Lessee committed a fundamental breach of this Agreement, within its meaning in this Agreement and/or in accordance with
    the provisions set forth in any law and/or in case the Lessee committed a breach that is not fundamental and fails to cure the said
    breach even though 15 days passed as of the date the Lessee received notice from the Lessor in connection therewith, the Lessor shall
    be entitled to notify the Lessee that the lease contemplated in this Agreement is null and void and in such circumstances the Lessee
    shall be obligated to vacate the Leased Premises in accordance with the provisions of section 20 above in 10 days as of the date
    of receiving the said notice and without derogating from the rights of the Lessor in accordance with this Agreement, including, however
    without derogating from the generality of the aforesaid, the right to receive the full amount of the Rent and the other amounts that
    the Lessor was entitled to if this Agreement was performed, and without derogating from its right to obtain any other relief and
    remedy, including compensation for any damage caused to the Lessor due to the said breach or nonfulfillment. 
	 	 	 
	 	 	The
    parties agree that the said period of 10 days was set by the parties as a reasonable period in connection with the provisions set
    forth in the Contracts Law (Remedies for Breach of Contract), 5731-1970.

 

	25.	Transfer
    of rights by the Lessor 
	 	 
	 	The
    Lessor shall be entitled to lease and/or sell its rights in the Park and/or in the Building and/or in the Leased Premises to anyone
    and for any purpose it deems fit and to implement any construction works in the Park and in the Building where the Leased Premises
    and grounds thereof are situated, even if these constitute a structural change in the Building and without obtaining any approval
    by the Lessee and without harming the area of the Leased Premises and access thereto.
	 	 
	26.	Miscellaneous
    

 

	 	26.1.	No
    conduct on behalf of the Lessor shall be deemed as waiver of any of its rights in accordance with this Agreement or in accordance
    with the provisions set forth in any law or as waiver or agreement on its behalf in respect of any breach of nonfulfillment of any
    of the conditions set forth in this Agreement by the Lessee or as granting an extension or a delay for the performance of any act
    that the Lessee is obligated to perform or as a modification, cancellation or addition of any condition, unless the said waiver,
    agreement, delay, modification, cancellation or addition were executed expressly and in writing. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	26.2.	It
    is agreed expressly that the fulfillment of any of the undertakings of the Lessor in accordance with this Agreement is conditional
    on the performance of the undertakings of the Lessee in accordance with this Agreement first, as the case may be, and the Lessor
    is entitled, without derogating from the said anywhere else in this Agreement, to delay the performance of any of its undertakings
    until the Lessee fulfilled its undertakings. 
	 	 	 
	 	26.3.	The
    Lessee declares that it is aware that the Lessor does not undertake that identical businesses or businesses that are in competition
    with the business that the Lessee conducts in the Leased Premises will not be conducted in other units in the Building or in any
    other location in the Park. 
	 	 	 
	 	26.4.	In
    case the Lessee is a foreign resident the Lessee undertakes to fulfill its undertakings in accordance with this Agreement in accordance
    with the provisions set forth in the Control of Currency Law 5738-1978 and the regulations, orders and permits promulgated thereunder
    and any law applicable thereto. 
	 	 	 
	 	26.5.	The
    bills of the Lessor shall constitute prima facie proof of any obligation and any settling of accounts specified thereat and any claim
    of the Lessor against the Lessee whose amounts and particulars are approved by an accountant shall bind the Lessee and the Lessee
    agrees that it shall serve as sufficient written reference for filing with the competent court as support of a claim filed in summary
    proceeding. 
	 	 	 
	 	26.6.	The
    parties agree that the competent court in the city of Tel Aviv shall have sole and exclusive jurisdiction in anything relating to
    and arising out of this Agreement including its interpretation, performance, effect and anything associated therewith. 
	 	 	 
	 	26.7.	The
    Lessee declares that it is aware that the law office of Danziger, Klagsbald, Rosen & Co. represents solely the Lessor and that
    the Lessee is afforded the opportunity to appoint an advocate on its behalf to handle anything related to this Agreement. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	27.	The
    addresses of the parties for the purpose of this Agreement are as follows: 

 

The
Lessor:

The
Lessee:

 

Any
notice delivered to any of the parties according to the address specified beside its name shall be deemed to have reached its recipient
in 72 (seventy two) hours from the time of delivery of the notice in a sealed envelope bearing the proper address from the post office
for delivery in registered mail.

 

In
case the Lessee includes a number of members, a notice shall be deemed to have been delivered to all the members of the Lessee if delivered
as aforesaid to one of the members of the Lessee in accordance with the address specified above.

 

IN
WITNESS HEREOF, the parties hereby enter into this Agreement and affix their signatures on the ____ Day In The Month Of _________ In
The Year _______

 

	[Signature
    and Stamp: Africa Israel Properties Ltd]

    [Signature
    and Stamp: Sharda Ltd]
	 	[Signature
    and Stamp: SciGen Il Ltd

    513679555]

	The
    Lessor	 	The
    Lessee

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

List
of appendixes

 

	1.	Appendix
    A – Addendum of the Agreement. 
	2.	Appendix
    B – Blueprint of the Building and the Leased Premises. 
	3.	Appendix
    C – Specification of shell. 
	4.	Appendix
    D – Supply of electricity in bulk. 
	5.	Appendix
    E – Certificate of Insurance of the Leased Premises. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

Appendix
A of Unprotected Lease Agreement

 

Dated
[handwritten: 16.6.06]

 

	Between:	Africa
    Israel Properties Ltd 

    Ayalot
    Investments (Ramat Vered) 1994 Ltd

    Sharda
    Ltd 

    (Hereinafter:
    “the Lessor”)

     

    Of
    the first part;

	 	 
	And
    between: 	SciGen
    (IL) Ltd Company No. 513679555

    42
    HaYarkon St., Yavne 81227

    (Hereinafter:
    “the Lessee”)

     

    Of
    the second part;

 

The
provisions set forth in this Appendix shall add and/or amend the Lease Agreement solely with respect to the sections specified hereunder
that were added and/or modified expressly in this Appendix. The sections that were amended and/or added in this Appendix shall supersede
the said in the Lease Agreement. The other terms set forth in the Lease Agreement shall fully apply and shall remain intact.

 

	1.	The
    words “jointly and severally” shall be added to the details of the Lessor.
	 	 
	2.	The
    Leased Premises 

 

	 	2.1.	Section
    2.1 – “the Leased Premises” – an area of approximately 1,718sqm gross in a building known as Stage C
    of the Park and that is situated in floor B in the west wing and that is highlighted in red in the blueprint enclosed as Appendix
    B of the Lease Agreement (it is clarified that the ratio of the gross – net areas is 13.6%). 
	 	 	 
	 	2.2.	As
    part of the common property throughout the Building the Lessor shall allocate to the Lessee 30 unmarked parking spaces solely for
    the use of the Lessee. The said allocation will not change even if the Lessee leases the additional area within its meaning hereunder.
    Of the said parking spaces as aforesaid, the parking spaces in the floor of the Leased Premises and only the ones that are
    attached to the Leased Premises, shall be allocated for the sole use of the Lessee and provided that they do not prevent
    the access to the storage rooms. The parking spaces in the floor of the Leased Premises and that are attached to the Leased Premises
    as stated above are marked in the blueprint hereby enclosed with the Lease Agreement as Appendix B. To the extent that there is a
    shortage (load) of parking spaces in the Park – the Lessor undertakes to mark the unmarked parking spaces solely in favor of
    the Lessee as aforesaid. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	2.3.	The
    Lessee shall be granted exclusive right of use of the existing floor protected space in the lobby of the floor of the Leased Premises
    subject to the provisions set forth in any law and the imposition of payment solely on the Lessee for any fee, tax, levy and any
    other mandatory payment that applies in connection with the exclusive use as aforesaid. 
	 	 	 
	 	2.4.	The
    Lessor shall allocate to the Lessee, at no extra cost, an area on the roof of the Leased Premises for the purpose of placing the
    chiller and other air conditioning equipment. The Lessee shall fence the said area. 

 

	3.	Delivery
    Date 

 

	 	3.1.	Section
    2.1 – “Delivery Date” – July 1, 2006, subject to presenting all the approvals that the Lessee is required
    to present at the time of signing and payment of the Rent and Maintenance Fees as stated in this Appendix hereunder. 
	 	 	 
	 	3.2.	A
    delay in the delivery of possession that is not greater than 30 days shall not constitute breach of the undertakings of the Lessor
    however shall delay respectively the undertakings of the Lessee and all the dates specified in the Lease Agreement, except for circumstances
    in which the delay in the Delivery Date derived due to failure in fulfillment of the undertakings of the Lessee as stated above.
    
	 	 	 
	 	3.3.	In
    case the Lessee refrained from fulfilling its undertakings and presenting the approvals and the securities that are required and
    the payment of the Rent and the Maintenance Fees as stated in this Appendix hereunder, and the delivery of possession in the Leased
    Premises was delayed as a result thereof, there shall be no delay in the fulfillment of the undertakings of the Lessee, including
    with relation to the charge of payment of the Rent and Maintenance Fees. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	3.4.	In
    the period as of the Delivery Date and until the Lease Commencement Date the Lessee shall be deemed as an authorized person for the
    purpose of implementing the adjustment works specified hereunder and shall be exempt from payment of Rent in respect of the Leased
    Premises however shall owe all other payments applicable in respect of the Leased Premises including Maintenance Fees, municipal
    taxes, electricity, water etc. 
	 	 	 
	 	3.5.	It
    is clarified that at the time the Lessee enters the Leased Premises for the purpose of implementing the construction works the Lessee
    shall present to the Lessor solely the dwelling under construction insurance policy. The other insurances specified in the Lease
    Agreement shall be presented to the Lessor upon completion of the construction works with and as a precondition for the start of
    activities of the Lessee in the Leased Premises.

 

	4.	Delivery
    of possession 

 

	 	4.1.	Section
    3.1 – the words “minor delay...of this Agreement” will be deleted. 
	 	 	 
	 	4.2.	An
    additional section will be added (immediately after section 3.1: “For the avoidance of doubt, the Lessor hereby declares that
    Form 4 (Certificate of Occupancy) was issued for the Leased Premises by the municipality.” 
	 	 	 
	 	4.3.	Section
    3.5 – the following shall be added in its final part: “and subject to allegations regarding latent defects and/or failures,
    to the extent detected, and that the Lessee could not have detected on the Delivery Date by conducting a professional inspection
    and in accordance with the provisions set forth in any law.” 

 

	5.	The
    lease and Term of Lease 

 

	 	5.1.	Section
    4.1 – “Term of Lease” – 60 (sixty) consecutive months as of November 1, 2006 (expiration of a period
    of four months as of the Delivery Date) and until October 31, 2011. 
	 	 	 
	 	5.2.	Subject
    to fulfillment of all the cumulative conditions specified hereunder, the Lessee is granted an option (hereinafter: “the
    Option”) to extend the Term of Lease by an additional term of lease of 60 months, as of expiration of the original Term
    of Lease: 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	5.2.1.	The
    Lessee shall deliver written notice in person to the Lessor, stating its intention to exercise the Option at least six months prior
    to the expiration of the original Term of Lease; 
	 	 	 
	 	5.2.2.	The
    Rent after exercising the Option shall be increased by 5% above the Rent during the original period. 
	 	 	 
	 	5.2.3.	The
    Lessee shall extend the guarantees and the insurances with relation to the Option period in such manner that at the time of exercising
    the Option and as a condition for its exercise the Lessee shall present the insurances and the guarantees that were extended as aforesaid.
    
	 	 	 
	 	5.2.4.	The
    Lessee fulfilled all its undertakings fully and timely in accordance with the Lease Agreement and the Management Agreement during
    the entire original Term of Lease and made all payments applicable to it fully and timely.

 

	6.	Knowledge
    of the Leased Premises 

 

	 	6.1.	Section
    5 – in the third line, after the words “in this Agreement” the following will be added: “and subject
    to the declarations of the Lessor.” The following will be added in the last part of the section: “except for allegations
    regarding a latent defect and/or failure, to the extent detected, and that the Lessee could not have detected on the Delivery Date
    by conducting a professional inspection.” 

 

	7.	The
    purpose of lease 

 

	 	7.1.	Section
    6.1 – the Lessee shall use the Leased Premises solely for the purpose of the pharmaceutical, cosmetics industry and ancillary
    services to this industry (an animal room, for example). 
	 	 	 
	 	7.2.	Section
    6.2 – the following shall be added in the last part of this section: “however solely upon obtaining the prior and
    written approval of the Lessor that shall not be unreasonably withheld. It is clarified that the mixture of lessees in the Park,
    the nature of the purpose of lease, the concern about a lease that might cause noise and odor nuisances and other similar nuisances
    constitutes reasonable grounds for the purpose of this section.” 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	7.3.	It
    is agreed that the Lessor shall not lease the areas that have an adjoining wall with the Leased Premises for the following purposes:
    welder shop, carpenter shop, stone cutting, metal coating and a restaurant. The Lessor shall not lease the areas that have an adjoining
    wall with the Leased Premises (hereinafter: “Adjoining Lessees”) for purposes that will prevent the issuance of the required
    FDA license that the Lessee requires for the purpose of operating its business. The Lessor shall notify the Lessee what the purpose
    of lease of the Adjoining Lessees is prior to signing the Lease Agreement with the Adjoining Lessees. In case the Lessee notified
    the Lessor in 10 days as of the date of receiving the notice of the Lessor that the said lease will cause the revocation of the license
    issued by the FDA the Lessor shall not lease the areas that have an adjoining wall with the Leased Premises if it is convinced that
    indeed the license might be revoked as aforesaid. In this regard the Lessee confirms that it is aware that the Leased Premises
    adjoin an area that was leased to the lessee Yfat Technologies and that it has no allegations in connection therewith. 

 

	8.	Rent
    

 

	 	8.1.	Section
    7.1 – the Rent per month for the Leased Premises during the Term of Lease (hereinafter: “Rent during the Term
    of Lease”) shall be in the amount of $9,449 per month (calculated according to $5.5 (five U.S. dollars and fifty cents).
    
	 	 	 
	 	8.2.	The
    Rent during the Term of Lease shall be calculated according to the representative rate of the dollar known at the time of making
    payment however at a rate that shall not fall below NIS 4.5=US$1 and no less than the representative rate of the dollar known on
    the date designated for making each payment. 
	 	 	 
	 	8.3.	Statutory
    VAT shall be added to the Rent during the Term of Lease and during the additional Term of Lease and to any payment made in accordance
    with the Agreement. 
	 	 	 
	 	8.4.	Notwithstanding
    the said, the Lessee shall be exempt from payment of the Rent in respect of the Leased Premises in respect of the first four months
    of the Term of Lease in the Leased Premises. For the avoidance of doubt it is clarified that the said exemption and discount relate
    solely to the Rent in respect of the Leased Premises and during the period specified above solely and the Lessee shall not be exempt
    and/or entitled to any discount in other payments that apply to the Lessee in accordance with the provisions set forth in this Agreement
    and/or in accordance with the provisions set forth in any law. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	8.5.	At
    the time of signing this Agreement the Rent and the Maintenance Fees in respect of the Leased Premises shall be paid in addition
    to VAT for the first three months of lease. 
	 	 	 
	 	8.6.	Without
    derogating from the foregoing, the Rent and the Maintenance Fees in addition to statutory VAT shall be paid every three months in
    advance as of commencement of each Term of Lease on the 1st of the month for the three subsequent months of lease. 
	 	 	 
	 	8.7.	Section
    7.1 – provisions regarding linkage to the indexes as stated in this section shall apply to the Maintenance Fees only (the
    Rent, as aforesaid, is linked to the U.S. dollar as stated in this Appendix above). 
	 	 	 
	 	8.8.	Section
    7.1.2 – in the definition of “linkage to the index” the definition shall change as follows: the word: “Rent”
    will be deleted in the first line of the definition. In addition, the last sentence in the definition will be deleted. 
	 	 	 
	 	8.9.	Section
    7.2 – in the first line, after the words “and any amount” the word “current” will be added, and
    after the words “from the Lessee” in the second line, the following will be added: “in accordance with the provisions
    set forth in this Agreement, however except for any payments of liquidated damages or any other damages.” 
	 	 	 
	 	8.10.	Section
    7.3 – the words “14 business days” shall come instead of “7 days.” 
	 	 	 
	 	8.11.	Section
    7.5 – the following will be added after the word “amounts” in the second line: “current, including linkage
    differentials and/or interest.” 

 

	9.	Taxes,
    fees and other payments 

 

	 	9.1.	The
    following will be added in the final part of section 8.1.4: “The Lessor shall return to the Lessee half of the amounts that
    the Lessee actually paid in accordance with the provisions set forth in this section in 14 days as of the date of presenting a receipt
    evidencing payment as aforesaid.”

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	9.2.	Section
    8.3 – in the second line, the words “in writing” will be inserted after the words “the demand of the Lessor.”
    The words “7 business days” will come instead of the word: “two.” 

 

	10.	Repairs,
    maintenance, management and services 

 

	 	10.1.	Section
    10.2 – the following will be added in its final part: “The Lessor undertakes to allow to the Lessee to review the profit
    and loss statements of the Management Company of the Park at any time.” 
	 	 	 
	 	10.2.	Section
    10.3.1 – the following will be added to the final part of the section: “To the extent that the occupancy of the areas
    that are actually leased does not reach 75% of all the areas that are designated for lease in the Building where the Leased Premises
    are located (Stage C of the Park) the said ratio shall change and shall be the ratio between the gross area of the Leased Premises
    and 75% of all the gross areas that are designated for lease in the Building in Stage C of the Park.” 
	 	 	 
	 	10.3.	Section
    10.9 – the following will be added in the final part of the section: “The arrangements and the procedures set forth in
    this section shall be as customary in the management and maintenance of buildings such as the buildings that are located in the Park
    and in any event shall be subject to the provisions set forth in this Agreement and in accordance with the provisions set forth in
    any law.” 
	 	 	 
	 	10.4.	Section
    10.10 – in the third line, after the words “on the condition” the following will be added: “that any work
    or maintenance as aforesaid shall be implemented in full and advance coordination with the Lessee and while taking into account the
    purpose of lease by the Lessee that may limit certain works.” The remaining part of the section will be deleted. 
	 	 	 
	 	10.5.	Section
    10.15 – in the fourth line, the following will be added after the words “to pay”: “shall be identical to
    the Maintenance Fees and/or the inspection fees that the Lessee undertook to pay in accordance with this Lease Agreement and subject
    to receiving the services as prescribed in section 10.9 above.” 
	 	 	 
	 	10.6.	The
    following will be added in the final part of section 10.16: “except for the repair of defects in the shell of the Building
    and in the access roads thereto, and the Lessor and/or the Management Company shall be responsible for their repair within a reasonable
    time from the time of delivery of a notice in connection with the Lessor and while taking into account the type of the defect and
    its significance with relation to the activities of the Lessee in the Leased Premises.” 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	10.7.	The
    following words will be deleted in the second line section 10.17: “In any public area and/or in any open private area.”
    The following will be added after the words “from them”: “except for the service or the use of a certain lessee.”
    

 

	11.	Finish
    works and changes in the Leased Premises 

 

	 	11.1.	Section
    12.1 – the last sentence will be replaced with the following sentence: “The Lessor may not withhold its approval as aforesaid
    however solely for reasonable reasons. The Lessor is aware that for the purpose of realizing the purpose or lease the Lessee intends
    to implement changes, repairs, enhancements or additions and/or construction works from time to time during the Term of Lease.”
    
	 	 	 
	 	11.2.	Section
    12.2 – the words “without the approval of the Lessor” will be deleted and the following will be inserted in their
    place: “contrary to the provisions set forth in subsection 12.1 above.” 
	 	 	 
	 	11.3.	Section
    12.3 – the following will be inserted instead of the words “without obtaining the approval of the Lessor”: “contrary
    to the provisions set forth in section 12.1 above.” 
	 	 	 
	 	11.4.	Section
    12.3.1 – the words “in writing” will be added in the last part of the fourth line. 
	 	 	 
	 	11.5.	Section
    12.4 – subsection 12.4.3 will be added as follows: “Notwithstanding the aforesaid, at the time of vacating the Leased
    Premises by the Lessee the Lessee shall dismantle and shall remove from the Leased Premises the clean rooms and the process equipment
    and the chiller and the Lessor shall have no right therein.” 
	 	 	 
	 	11.6.	Section
    12.5 – the following will be added after the words “prior and written”: “The Lessor may not unreasonably
    withhold its approval.” The following will be added in the final part: “It is clarified that to the extent that the Lessee
    wishes to add a footbridge (“prestressed ceiling”) for the sole purpose of accessing the production systems and in order
    to handle these systems, the Lessee shall be entitled to act in the said manner and the Lessor shall not consider the addition of
    the footbridge as a gallery for the purpose of this Agreement and subject to the provisions set forth in any law. For the avoidance
    of doubt it is clarified that to the extent that the construction of the prestressed ceiling as aforesaid is considered as a gallery
    by law, the Lessee shall be required to obtain all approvals a permits and make all payments to the authorities in connection therewith
    however shall not incur Rent and management fees in respect of such a prestressed ceiling as aforesaid.” 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	11.7.	Section
    12.7 – in the second line, after the words “prior and written” the following will be added: “The Lessor will
    not unreasonably withhold its approval.” 
	 	 	 
	 	11.8.	Section
    12.8 – instead of the words: “And all at its sole discretion” in the third line, will be replaced by the words:
    “And all subject to giving a reasonable reason for the refusal and/or the stipulation as stated above.” 
	 	 	 
	 	11.9.	Section
    12.9 – the following will be added in the final part: “It is clarified that this provision shall not apply with relation
    to the prestressed ceiling within its meaning above.” 

 

	12.	Electricity
    

 

	 	12.1.	Section
    13 – section 13.4 will be added: “Notwithstanding the aforesaid and/or the said in the Electricity Appendix, the responsibility
    of the Lessor in anything related the supply of electricity, including in anything related to its quality (voltage, frequency), disruptions
    in its supply, damages caused to the Lessee as a result of the said above, shall be identical to the responsibility that applies
    to IEC from time to time as if the IEC itself supplied electricity to the Lessee.” 

 

	13.	Maintenance
    of the Leased Premises 

 

	 	13.1.	Section
    15.2 – in the second line the following will be added after the word “facilities”: “Not as a result of reasonable
    wear. It is clarified that the foregoing shall not give rise to liability of the Lessor and/or the Management Company for damages
    and/or defects that are caused as a result of reasonable wear.”

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	14.	Third
    party liability 

 

Section
16.1 – in the fourth line, after the words “in the area of the Leased Premises” the entire final part will be deleted.
The following will come in its place: deriving from an act or omission of the Lessee and/or its employees and/or its authorized persons.”

 

	 	14.1.	Section
    16.2 – at the end, after the words “its first demand” the words “in writing” will be added. The following
    will be added in the final part: “subject to the right of the Lessee to defend against any demand and/or claim as aforesaid
    and subject to payment of any amount solely after delivery of a judgment whose performance was not stayed.” 

 

	15.	Section
    17 – Insurances 

 

Section
17 of the Agreement will be deleted and the following will come in its place: 

 

	17.	Insurances
    

 

	 	17.1.	 

 

	 	17.1.1.	Without
    derogating from the liability and undertakings of the Lessee in accordance with the provisions set forth in this Agreement and/or
    in accordance with the provisions set forth in any law, the Lessee undertakes to purchase and arrange with a legally licensed and
    reputable insurance company and at its expense and to keep in effect for the entire Term of Lease the insurances specified hereunder
    in the scope of insurance coverage specified beside them (hereinafter: “Insurances of the Leased Premises”): 

 

	 	A.	Property
    insurance – this policy shall provide full insurance coverage in full value and in full reinstatement value of the content
    of the Leased Premises, the equipment in the Leased Premises and any other equipment that is brought to the Leased Premises and/or
    the Building or by or for the Lessee and any repair, change, improvement, renovation and addition to the Leased Premises that were
    implemented and/or that will be implemented by the Lessee and/or for the Lessee and furniture, equipment, facilities and stocks of
    any kind against the customary risks in “extended fire” insurance including the following risks: loss or damage as a
    result of fire, smoke, lighting, explosion, earthquake, riots, strikes, willful damage, flood, damage caused by a storm, damage caused
    by vehicles and aircrafts, damage caused by water and other fluids and splitting of pipes, sonic damages, damage caused by a collision
    and break-in. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	B.	Consequential
    loss insurance for the Lessee providing insurance coverage for loss of income and loss of gross earnings as a result of damage caused
    to the insured property in accordance with section 17.1.1A above and/or the Leased Premises and/or the Building due to the risks
    specified in subsection A above for an indemnification period that shall not be greater than 12 months. 

 

The
insurances specified in subsections A and B above shall include an express provision according to which the Insurer waives any right
of subrogation towards the Lessor and/or towards the Management Company and/or anyone acting on their behalf and towards the other lessees
and/or the other possessors of the Building and/or employees and managers thereof whose parallel insurance policies include a clause
of waiver of the right of subrogation towards the Lessee and provided that the waiver of the right of subrogation shall not apply in
favor of a person who caused willful damage.

 

The
Lessee undertakes to amend the sum insured in respect of the insurances specified in subsections A and B above so that it always reflects
the full value of the property insured in these insurances.

 

It
is agreed that the Lessee may not arrange consequential loss insurance as stated in section 17.1.1.B above, in whole or in part, however
the exemption specified in section 17.2 hereunder shall apply as if the said insurance was fully arranged.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	C.	Third
    party liability insurance – providing insurance coverage for the liability of the Lessee towards any third party, including
    its guests, invitees, customers, the Lessor and the Management Company and anyone acting on their behalf and in their name in a liability
    limit that shall not fall below an amount in new Israeli shekels equal to $5,000,000 (five million U.S. dollars) [handwritten: 3,500,000
    million U.S. dollars [illegible] the Lessee shall increase the liability limit to $5,000,000] for an insured event and for an
    insurance year. 
	 	 	 
	 	 	This
    insurance shall not be subject to any limitation regarding liability arising out of fire, explosion, panic, hoisting, loading and
    unloading devices, defective sanitary fixtures, poisoning, anything harmful in foods and beverages, liability in respect of and towards
    contractors, subcontractors and their employees and claims on behalf of the National Insurance Institute. The insurance shall be
    extended to indemnify the Lessor and the Management Company including in respect of their liability as the owners and/or managers
    of the Leased Premises in respect of bodily harm up to an amount of $50,000 per event and in respect of their liability for the acts
    and/or omissions of the Lessee and/or anyone acting on its behalf and subject to a cross-liability clause according to which the
    insurance shall be deemed to have been arranged separately for each of the members of the insured and while indicating that the Lessor
    and/or the Management Company are not held liable for payment of any premium.
	 	 	 
	 	D.	Employers’
    liability insurance in respect of the liability of the Lessee towards anyone employed by the Lessee and on its behalf and in a liability
    limit that shall not fall below an amount in NIS equal to $5,000,000 (five million U.S. dollars) per event and for an insurance year.
    This insurance shall not include any limitation regarding hours of work, baits and poisons and regarding youth employment. The said
    insurance shall be extended to indemnify the Lessor and/or the Management Company in case they are considered as the employer of
    the employees of the Lessee and/or any thereof. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	17.1.2.	The
    Lessee’s insurances shall include an express condition according to which they supersede any insurance that was arranged by
    the Lessor and/or the Management Company and that the insurer waives any demand or argument regarding participation in the insurances
    of the Lessor and/or the Management Company. In addition, the insurer shall undertake that the policies shall not be diminished or
    canceled unless a written notice is delivered in registered mail to the Lessor and the Management Company at least 60 days in advance.
    
	 	 	 
	 	17.1.3.	Without
    having to receive any demand from the Lessor, the Lessee undertakes to present to the Lessor, subject to the provisions set forth
    in section 3.5 above, and no later than the Delivery Date or prior to the date of bringing any assets to the Leased Premises, upon
    the earlier, a certificate regarding the insurances of the Leased Premises in accordance with the “Certificate of Insurance
    of the Leased Premises” enclosed as Appendix E of this Agreement, lawfully signed by the insurer. The Lessee declares that
    it is aware that the presentation of the “Certificate of Insurance of the Leased Premises” as aforesaid is a condition
    precedent and a precondition for the commencement of the activities of the Lessee in the Leased Premises and/or for bringing any
    assets to the Leased Premises as stated above and the Lessor shall be entitled to prevent from the Lessee its activities in the Leased
    Premises and/or the bringing of assets as aforesaid in case the said certificate was not presented to the Lessor prior to the date
    indicated above. 
	 	 	 
	 	17.1.4.	For
    the avoidance of doubt it is clarified that failure to present the certificates of insurance and the insurance policies on time as
    stated above shall not derogate from the undertakings of the Lessee in accordance with this Agreement including, and without derogating
    from the generality of the aforesaid, the making of any payment that applies to the Lessee, and the Lessee undertakes to fulfill
    all its undertakings in accordance with the Agreement even if it is denied possession in the Leased Premises and/or denied from bringing
    assets to the Leased Premises and/or opening its business in the Leased Premises due to failure to present the certificates of insurance
    and the insurance policies on time. In this regard it is clarified that the arrangement of the said insurances by the Lessee shall
    not diminish or derogate in any manner the undertakings of the Lessee in accordance with this Agreement. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	17.1.5.	No
    later than 14 days prior to expiration of the Lessee’s insurances and subject to the written request made by the Lessor, the
    Lessee undertakes to deposit with the Lessor and/or the Management Company a certificate of insurance as stated in section 17.1.3
    above in respect of the extension of the insurance by one additional year and in 30 days as of the date of receiving the demand of
    the Lessor the Lessee shall deposit the original copies of the Lessee’s insurances as long as the Lessee possesses the Leased
    Premises. 
	 	 	 
	 	17.1.6.	The
    Lessor and/or the Management Company shall be entitled to examine the certificates of insurance and/or the insurance policies that
    are presented by the Lessee as stated above and the Lessee undertakes to implement any change or amendment that is required so as
    to make them compatible with its undertakings. The Lessee declares and warrants that the rights of the Lessor and/or the Management
    Company for inspection and the demand for changes shall not impose on the Lessor and/or the Management Company or anyone acting on
    their behalf any obligation and any responsibility in respect of the certificates of insurance and the policies as aforesaid including
    their standard, scope and effect or lack thereof and shall not derogate from any obligation that is imposed on the Lessee in accordance
    with this Agreement whether or not they made such demand or conducting such inspection. 

 

	 	17.2.	The
    Lessee declares that it shall raise no allegations and/or demands and/or claims against the Lessor and/or the Management Company
    and/or anyone acting on their behalf and against other lessees and/or possessors in the Building (regarding other lessees and/or
    possessors in the Building, subject to mutual waiver of the right of subrogation in their lease agreements) in respect of any damage
    for which the Lessee is entitled to indemnification in respect whereof, or for which it was entitled to indemnification in respect
    whereof if it had not been for the deductible amount specified in the policies and in accordance with the insurances the Lessee undertook
    to arrange in accordance with the provisions set forth in sections 17.1.1A and 17.1.1B and the property chapter in the insurance
    that the Lessee undertook to arrange in accordance with the provisions set forth in section 17.7A hereunder and it hereby exempts
    the Lessor and/or the Management Company and/or anyone acting on their behalf and/or the other lessees and/or the other possessors
    in the Building from any liability for such damage as aforesaid. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	 	The
    provisions set forth in this section shall add and shall not derogate from any other provision set forth in this Agreement and/or
    in the agreement made with the Management Company regarding the exemption from liability towards the Lessor and/or the Management
    Company and regarding imposition of liability on the Lessee.
	 	 	 
	 	17.3.	The
    Lessee undertakes to uphold all the provisions set forth in the policies specified in this section hereinabove and to make full and
    timely payment of all insurance premiums and to assure and take measures so that the insurance policies of the Leased Premises are
    extended from time to time, as required, and shall be in effect during the entire Term of Lease. 
	 	 	 
	 	17.4.	In
    case the Lessee failed to fulfill its undertakings in accordance with the provisions set forth in this section 17 the Lessor and/or
    the Management Company shall be entitled, however not obligated, to arrange the insurances or any part thereof instead of the Lessee
    and at its expense and/or to pay instead of the Lessee any amount, without derogating from the right of the Lessor and/or the Management
    Company to any other relief. 
	 	 	 
	 	17.5.	The
    arrangement of the insurances specified above by the Lessee shall not derogate or diminish in any manner from the undertakings of
    the Lessee in accordance with this Agreement or release the Lessee from its obligation to compensate the Lessor and/or the Management
    Company and/or any person in respect of any damage caused directly or indirectly in connection with the property for which it is
    responsible and/or as a result of the activities and/or use of the Lessee in the Leased Premises and/or as a result of failure to
    uphold the provisions set forth in this Lease Agreement by the Lessee. 
	 	 	 
	 		Payment
    of any insurance benefits shall only decrease the amount of indemnification and/or compensation the Lessor and/or the Management
    Company shall be entitled to in respect of damage or loss.  
	 	 	 
	 	17.6.	The
    Lessee undertakes not to perform and/or allow anyone acting on its behalf to commit any act or omission that deviate from the purpose
    of lease in accordance with the provisions set forth in this Agreement and that might increase the insurance expenses applicable
    to the Lessor and/or the Management Company and/or the other lessees in respect of the insurance do the Building or leased premises
    thereof. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	17.7.	The
    Lessee undertakes that in case the Lessor and/or the Management Company are obligated to pay additional insurance premiums beyond
    customary due to the activities of the Lessee (that deviates from the purpose of lease in accordance with the provisions set forth
    in this Agreement) the Lessee shall pay to the Lessor and/or the Management Company, as the case may be, the said addition, immediately
    upon receiving first demand. 
	 	 	 
	 	17.7A
    	Subject
    to the provisions set forth in this Agreement in anything related to obtaining authorization to implement works in the Leased Premises,
    and in case any works in the Leased Premises are implemented by the Lessee and/or by anyone acting on its behalf prior to the occupancy
    of the Leased Premises for the first time by the Lessee and/or at any time during the Term of Lease, the Lessee undertakes to present
    to the Lessor the certificate of insurance for the works of the Lessee enclosed with this Appendix and constituting an integral part
    thereof and marked as Appendix E (hereinafter respectively: “Certificate of Insurance for the Lessee’s Works” and
    “Insurance for the Lessee’s Works”) signed by the Lessee’s insurer. The Lessee declares that it is aware
    that the presentation of the Certificate of Insurance for the Lessee’s Works as aforesaid is a condition precedent and a precondition
    for the implementation of any works in the Leased Premises and the Lessor shall be entitled, however not obligated, to prevent from
    the Lessee to implement works in the Leased Premises in case the said certificate was not presented to the Lessor prior to commencement
    of implementation of the works. 
	 	 	 
	 	17.8.	 

 

	 	17.8.1.	Without
    derogating from the liability of the parties in accordance with this Agreement, the Lessor undertakes to purchase by the Management
    Company as part of the services and to keep the insurance policies specified hereunder in effect and under the scope of insurance
    coverage as stated beside them during the entire Term of Lease: 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	A.	Property
    insurance – against the customary risks in “extended fire” including the following risks: fire, smoke, lighting,
    storm, explosion, earthquake, flood, damage from water and splitting of pipes, strikes, riots, willful damage, damage by an aircraft,
    damage by sonic booms, collision and break-in. This policy shall reflect the full value and the full reinstatement value of the structure
    of the building including attachments thereof and additions and improvements to the structure of the Building that were implemented
    by the Lessor and/or for the Lessor. The policy shall include a clause regarding waiver of the right of subrogation against the lessees
    and the possessors in the Building including their managers and employees and provided that the waiver of the right of subrogation
    shall not apply in favor of a person who caused willful damage. 
	 	 	 
	 	B.	Third
    party liability insurance – providing insurance coverage for the liability of the Lessor and/or the Management Company towards
    any third party, its employees and anyone acting on their behalf or in their name. The insurance shall be extended to indemnify the
    Lessee regarding its liability in respect of its activities in the area of the public areas beyond the liability limit specified
    in the insurance policies that the Lessee undertook to arrange in accordance with this Agreement. 
	 	 	 
	 	C.	Employers’
    liability insurance – providing insurance coverage for the liability of the Lessor and/or the Management Company towards any
    of their employees. This insurance shall be extended to indemnify the Lessee in case the Lessee is considered to be the employer
    of any of the employees of the Lessor and/or the Management Company regarding the occurrence of an occupational accident and/or an
    occupational disease. 
	 	 	 
	 	D.	Consequential
    loss insurance for the Lessor and/or the Management Company against loss of rent and management fees in full value due to damage
    caused to the Leased Premises and/or to the Building as a result of the risks covered in the property insurance specified in section
    17.8.1A above. This insurance shall include waiver of the right of subrogation against the Lessee except for circumstances of willful
    damage caused by the Lessee and anyone acting on its behalf. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	E.	All
    risk contractor insurance policy for repairs, renovations and maintenance by the employees of the Lessor and/or the Management Company
    and/or contractors and/or their workers. 

 

	 	17.8.2.	The
    Lessor or the Management Company, as the case may be, shall charge from the Lessee, as an addition of the management expenses, a
    relative part of the insurance premiums as aforesaid. The Lessor declares that it shall raise no allegations and/or demands and/or
    claims against the Lessee and anyone acting on its behalf in respect of any damage for which it is entitled to indemnification or
    for which it was entitled to indemnification if it had not been for the deductible amount specified in the policies and in accordance
    with the insurances specified in sections A and D however the said exemption shall not apply in favor of a person who caused willful
    damage. 
	 	 	 
	 	17.8.3.	The
    insurance policies of the Lessor shall be available for the review of the Lessee in the offices of the Lessor or the Management Company.
    The Lessee undertakes to uphold all the provisions set forth in the policies and cooperate with the Lessor and/or the Management
    Company in case a claim is filed with the insurance company. 
	 	 	 
	 	17.8.4.	For
    the avoidance of doubt, the arrangement of the insurances as stated above by the Lessor and/or the Management Company shall not diminish
    and shall not derogate in any manner from the undertakings of the Lessee in accordance with the provisions set forth in this Agreement
    and/or in accordance with the provisions set forth in any law. 
	 	 	 
	 	17.8.5.	For
    the avoidance of doubt it is clarified that the Lessor and/or the Management Company shall be entitled, at their sole discretion,
    to increase the scope of the said coverages and/or to add a coverage that is not specified above and/or avoid from arranging the
    insurances specified above and/or reduce their scope. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	17.8.6.	In
    case damage was caused to the structure of the Building the insurance benefits that are paid, if any, in accordance with the policy
    shall be first used for the purpose of repairing and/or restoring the damage except for circumstances of total loss. 

 

	 	17.9.	The
    parties undertake to perform any action that is required for the purpose of exercising their rights in accordance with the insurance
    policies, including joining to claims and/or demands that are served by any party to the insurance company or against the insurance
    company.
	 	 	 
	 	17.10.	Breach
    of the provisions set forth in this section 17 including any of its provisions or subsections thereof by the Lessee shall constitute
    a fundamental breach of this Agreement. 

 

	16.	Section
    18 – access of the Lessor to the Leased Premises

 

	 	16.1.	Section
    18.1 – in the sixth line, after the words “will perform” the following will be added: “after advance coordination
    with the Lessee and on the condition that the said works and activities do not impede the current activities of the Lessee including
    damage to the clean rooms and/or the laboratories and in the manner.” At the end, the following will be added after the words:
    “to the extent possible”: “In case the Leased Premises cannot be restored to its previous condition, the Lessor
    shall compensate the Lessee in respect of all the direct losses caused as a result thereof.” 
	 	 	 
	 	16.2.	Section
    18.2 – the words “in advance” will come after the word “coordination.” 

 

	17.	Prohibition
    on assignment of rights 

 

	 	17.1.	Section
    19.2 – notwithstanding the said in the section, the Lessee shall not be required to obtain the approval of the Lessor for a
    change as stated in section 19.2 however shall be required to notify the Lessor regarding any change as stated in the section. 

 

	18.	Securities
    

 

	 	18.1.	Section
    21.1 – the words “14 business days” will come instead of “4 days.” 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

 

	 	18.2.	Section
    21.6 – the following paragraph will be added at the end of the section: “The Lessor shall not exercise any of the securities
    it holds unless it delivered a prior and written notice to the Lessee that the Lessee breaches its undertakings in accordance with
    this Agreement and the Lessee failed to cure the breach in 7 days as of the date of the notice as aforesaid.” 
	 	 	 
	 	18.3.	Section
    21.7 – the words “to the satisfaction of the Lessor” in the final part will be deleted. 

 

	19.	Breach
    

 

	 	19.1.	Section
    24.2 – the following will be added in the final part of the section: “Notwithstanding the said in this section and in
    section 24.3 hereunder, the Lessor shall be entitled to recover from the Lessee cumulatively of the liquidated damages in addition
    to damages for its actual losses.”

 

	20.	Transfer
    of rights by the Lessor 

 

	 	20.1.	Section
    25 – the following will be added in the final part of the section: “And the rights of the Lessee in accordance with this
    Lease Agreement.”

 

	21.	Right
    of refusal 

 

	 	The Lessee is hereby granted right of first refusal (hereinafter: “Right of Refusal”) as specified hereunder:
	 	 	 
	 	21.1.	The
    Right of Refusal pertains to the lease of the area that is adjacent to the Leased Premises (hereinafter: “Additional Area”):
    the area that adjoins the Leased Premises as highlighted in the blueprint and whose area is approximately 404sqm gross and it is
    highlighted in blue in the blueprint enclosed as Appendix B of the Lease Agreement. 
	 	 	 
	 	21.2.	The
    period of Right of Refusal shall commence in March 2007. Until that date the Lessor undertakes not to lease the area subject matter
    of the Right of Refusal to a third party without obtaining the approval of the Lessor – and even if the Lessee did not sign
    with the Lessor an Addendum of the Lease Agreement stating that the area subject matter of the Right of Refusal was added to the
    Leased Premises. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	21.3.	During
    the period in which the Right of Refusal is in effect the Lessor undertakes not to lease the area subject matter of the Right of
    Refusal to a third party however solely after the Lessor delivered notice to the Lessee regarding its intention to lease the area
    subject matter of the Right of Refusal to a third party and the Lessee did not sign an Addendum of the Lease Agreement with the Lessor
    in 14 days according to which the area subject matter of the Right of Refusal was added under conditions that were agreed between
    the Lessor and the said third party. In case no agreement with a third party was signed in 120 days as of the date of the notice
    as aforesaid, the Right of Refusal shall be extended automatically. 

 

	22.	Works
    in the Leased Premises 

 

	 	22.1.	The
    Leased Premises shall be delivered to the Lessee in their condition “as-is” at the time of signing this Agreement. 
	 	 	 
	 	22.2.	The
    Lessee shall be entitled to implement adjustment works in the Leased Premises (“Adjustment Works”) as of the Delivery
    Date, by a contractor and/or contractors on its behalf. The said shall be subject to the fulfillment of all the undertakings of the
    Lessee until that date including, inter alia, presentation of the securities, presentation of the certificates of insurance
    and payment of the Rent in respect of three months of lease. It is clarified that the said shall not derogate from the obligation
    of the Lessee to approve the plans of the Lessee prior to the implementation of the actual Works. 
	 	 	 
	 	22.3.	On
    the date the Lessee requests to enter the Leased Premises for the purpose of implementing the Adjustment Works a protocol shall be
    drafted and signed by the Lessor on the one hand and by the Lessee on the other hand that shall indicate the condition of the Leased
    Premises and any defect or lack of conformity between the specification of the shell and the actual condition of the Leased Premises.
    On the Delivery Date the Lessee shall be precluded from presenting allegations it did not present at the time of entering the Leased
    Premises for the purpose of implementing the Adjustment Works except for allegations regarding defects arising out of substandard
    labor or materials and that could not have been detected at the time of entering the Leased Premises as aforesaid. The entrance of
    the Lessee to the Leased Premises for the purpose of implementing the Adjustment Works shall constitute prima facie proof that the
    Leased Premises were constructed in accordance with the provisions set forth in this Agreement and subject to the matters that were
    indicated expressly in the protocol. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	22.4.	Notwithstanding
    the aforesaid, the approval of the Lessor for the implementation of the Adjustment Works by the Lessee is conditional on the submission
    of all the plans that are drafted by the Lessee including the construction plans, air conditioning and electricity plans in detail
    of construction plans prior to implementation thereof for the approval of the Lessor (hereinafter: “Lessee’s Plans”).
    The Lessor shall not unreasonably withhold its approval of the Lessee’s Plans. It is agreed and declared expressly that the
    Lessor shall be entitled to withhold its approval of the Lessee’s Plans in any event in which the implementation of the Adjustment
    Works might cause any delay in any event in which the implementation of the Adjustment Works requires modifications in the pipelines,
    electricity, water and sewage systems of the Building or the design of their construction and/or in any event in which the implementation
    of the Adjustment Works requires a permit in accordance with the provisions set forth in the Planning and Building Law 5725-1965
    and/or in any event in which the implementation of the Adjustment Works might cause a disruption to the progress of construction
    of the additional leased premises and/or the Building. 
	 	 	 
	 	22.5.	In
    case the Lessee delivered plans to the Lessor and the Lessor did not approve the said plans, in whole or in part, in accordance with
    its right as stated above, the Lessee shall submit to the Lessor amended plans in 14 days as of the date of receiving the demand
    of the Lessor to that effect. It is clarified and agreed that the refusal of the Lessor to approve the Lessee’s Plans shall
    not delay the Lease Commencement Date for any reason. 
	 	 	 
	 	22.6.	The
    Lessee shall not be entitled to implement in the additional leased premises any work that was not approved by the Lessor in advance
    and in writing. The Lessor shall approve – subject to the provisions set forth above – the Lessee’s Plans in 14
    (fourteen) days as of the date of receiving the Plans. 
	 	 	 
	 	22.7.	In
    any event in which the Lessor is required, for the purpose of approving the Plans, to receive assistance from advisors, including
    the designers of the Building and/or systems thereof, the Lessee shall incur the costs in connection with the fees paid to the advisors.
    The Lessee shall pay the advisors’ fees immediately upon demand in addition to VAT and subject to obtaining an invoice. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	22.8.	The
    Lessee shall be solely responsible for obtaining any license and/or permit that are required for the purpose of implementing the
    Adjustment Works. 
	 	 	 
	 	22.9.	The
    Lessee shall be held solely liable for implementation of the Adjustment Works in the additional leased premises, including all insurances
    associated therewith. The Lessee shall deliver for the approval and comments of the Lessor the draft of the insurance policy that
    the Lessee arranges in connection with the Adjustment Works, prior to issuance thereof, and shall amend the policy – to the
    extent required – in accordance with the comments made by the Lessor. It is agreed that the Lessor shall be listed as an additional
    insured in this insurance policy. The Lessee’s insurer shall sign the “Adjustment Works Appendix” that will be
    marked with the letter “F” and that confirms the arrangement of the insurances as customary in the Lessor. 
	 	 	 
	 	22.10.	The
    Lessee shall implement the Adjustment Works in such manner that will prevent nuisances and disruptions to the other lessees in the
    Building and shall be held liable towards the Lessor and towards any third party for any damage and/or loss caused, if caused, directly
    or indirectly, in the course of and/or following the implementation of the Adjustment Works, to the body and/or the property and/or
    the additional leased premises and/or to the Building and/or surroundings and/or content thereof. For the purpose of this matter
    it is clarified that the approval of the Lessor for the Adjustment Works shall not impose any liability on the Lessor. 
	 	 	 
	 	22.11.	The
    Lessor shall be entitled, after advance coordination, to enter the Leased Premises at any time in the course of implementation of
    the Adjustment Works so as to inspect the performance of the undertakings of the Lessee. 
	 	 	 
	 	22.12.	The
    Lessee undertakes to repair any damage and/or failure caused as a result of implementation of the Adjustment Works. In case the Lessee
    fails to act in the said manner the Lessor shall be entitled to perform the said actions at the expense of the Lessee and after delivery
    of a written notice to the Lessee regarding its intention to act in the said manner. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	22.13.	All
    materials and equipment for the purpose of implementing the Adjustment Works shall be of excellent materials and quality and in compliance
    with any law and standard. The Lessee shall be solely responsible for the equipment and the materials that are brought for the purpose
    of implementing the Adjustment Works. The Lessee shall not be entitled to store materials and equipment outside the additional leased
    premises however solely after obtaining the prior and written approval of the Lessor. The Lessee shall be responsible to protect
    the additional leased premises and the equipment, materials and facilities located therein. 
	 	 	 
	 	22.14.	The
    Lessee shall assure that the contractors on its behalf will observe the instructions of the Lessor and will act in accordance with
    the work procedures set forth by the Lessor, to the extent that there are any. The Lessee is also responsible to assure that the
    contractors that implement the Adjustment Works will implement the maintenance repairs and the warranty repairs as required by law.
    

 

	23.	Electricity
    Appendix 

 

The
Lessee declares that it is aware that the Lessor holds exclusive rights towards Israel Electric Corp. in anything related to the supply
of electricity to the Leased Premises and that the Lessor shall supply the electricity to the Leased Premises in the manner and under
the terms set forth in Appendix D of the Agreement.

 

It
is agreed that the Lessee shall be entitled to supply electricity for itself during emergencies by an emergency generator the Lessee
holds and the Lessor shall raise no arguments in connection therewith.

 

	[Signature
    and Stamp: Africa Israel Properties Ltd]

    [Signature
    and Stamp: Sharda Ltd]
	 	[Signature
    and Stamp: SciGen Il Ltd

    513679555]

	The
    Lessor	 	The
    Lessee

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

Appendix
B

 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

Appendix
C

Shell
specification

 

	1.	Live
    load 
	 	 
	 	2
    ton per 1sqm in the ground floor. 
	 	1
    ton per 1sqm in typical floors. 
	 	 
	2.	Height
    
	 	 
	 	In
    the ground floor – 6.2m. 
	 	In
    floors A, B – 5.6m. 
	 	In
    floor C – 4.5m. 
	 	 
	3.	Partitioning
    walls between lessees 
	 	 
	 	Construction
    with full closing of the floor – ceiling. 
	 	Construction
    of a wall between the Leased Premises and the adjacent leased premises from the north with “Trapezit” block. 
	 	 
	4.	Floor
    
	 	 
	 	Troweled
    concrete floor with grooves in a key according to the instructions of the designer to prevent cracks.
	 	 
	5.	Interior
    finish 
	 	 
	 	Polysid
    paint on walls and ceilings.
	 	 
	6.	Windows
    
	 	 
	 	Aluminum
    with dreh-kipp/sliding doors according to architect’s plan. There is a screen wall with dreh-kipp windows in part of the area.
	 	 
	7.	Entrance
    doors 
	 	 
	 	Safety
    doors such as Rav-Bariach or equivalent.
	 	 
	8.	Rolling
    gates 
	 	 
	 	With
    manual release made by Pazgal or equivalent. 
	 	Note:
    the number of doors, rolling gates and windows shall be determined according to the number of modules and the division of the area
    of the Leased Premises. 
	 	 
	9.	Water
    
	 	 
	 	Preparation
    for a water meter and a transmission line.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	10.	Sprinklers
    
	 	 
	 	A
    system of sprinklers adjusted to an outdoor area without partitioning and walls or lowered elements in accordance with 2 Hazard risk
    level. 
	 	 
	11.	Sewage
    
	 	 
	 	Preparation
    of vertical sewage pipeline for future connection of toilet unit by the customer. 
	 	The
    location of drains and lines in deployment according to existing implementation in the field. 
	 	 
	12.	Electricity
    
	 	 
	 	The
    electricity supply in the Building is in high voltage bulk method. 
	 	 
	 	The
    Lessor shall supply electricity to a connection size of 3X0.15 A for each 1sqm gross. The connection and wiring of the area to a
    main board shall be under the responsibility of the Lessee. 
	 	 
	 	The
    size of the required electricity connection for the floor of the Leased Premises is 3*630A. The size of the electricity connection
    that is required in the roof floor for the chiller is 3*900A. Both connections will reach the core (the common area where the protected
    space (“mamad”) and the elevator are located) in each of the floors. The Lessee shall pay to the Lessor the cost price
    of installation of the cable, including labor, for the cost of the cable from the core to the distribution board of the Leased Premises.
	 	 
	13.	Low
    voltage 
	 	 
	 	The
    Lessee is responsible for the connection of the control systems of the Lessee to different centers including wiring until the control
    center of the Lessor, if required.
	 	 
	14.	Telephony
    
	 	 
	 	Preparation
    in the floor for the future connection and wiring of the area of the Leased Premises by the Lessee to the floor cabinet of Bezeq
    Company.
	 	 
	15.	Air
    conditioning 
	 	 
	 	Preparation
    for installation of air conditioners by the Lessee of the type split air conditioning units on a metal construction in the eastern
    façade. 
	 	 
	 	Note:
    it is necessary to assure that external units that are adjusted to the existing dimensions in the console were ordered for the purpose
    of placing the unit. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	16.	Bars
	 	 
	 	The
    installation of bars on the lower windows facing the east (that are adjacent to the ramp) and in the ground floor also on the windows
    that are facing west.
	 	 
	17.	Miscellaneous
	 	 
	 	The
    Lessor is responsible to operate the elevator in the lobby of the Building, on the date the Leased Premises are operated according
    to their designation. 
	 	 
	 	The
    Lessor shall be solely responsible for waterproofing of water leaks from the windows in the western façade of the Building.
	 	 
	 	Floor
    drainage – the Lessor shall allow the Lessee to pass under the floor of the Leased Premises floor drainage systems (barriers
    and drainage) subject to presentation of a detailed plan for the prior approval of the Lessor.
	 	 
	 	The
    use of piers and the public passageways that are adjacent to the area of the Leased Premises for the transmission of pipelines and
    systems shall be following advance coordination and agreement with the Lessor.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

Appendix
D

 

Conditions
for supply of electricity in bulk

 

The
Lessee declares that it is aware that the Lessor is the sole right holder towards Israel Electric Corp. in anything related to the supply
and consumption of electricity to the Leased Premises and that the Lessor shall supply the electricity to the Leased Premises in the
manner and under the terms set forth in this Agreement hereunder.

 

	1.	Introduction

 

As
used in this Agreement, the following terms shall have the respective meanings set forth beside them below:

 

	 	“The
    Agreement” 	–	The
    Lease Agreement that was signed between the Lessor and the Lessee on [handwritten: 16.6.06] and additions thereof,
    to the extent that there are any.

     

	 	“The
    Leased Premises,” “the Park,” “the Building” 	–	Within
    their meaning in the Agreement.

     

     

	 	“The
    Engineer” 	–	An
    electrical engineer or a certified electrician that are in charge of the electricity system in the Park and/or in the Building.

     

	 	“Electricity
    Services” 	–	The
    supply of electricity, the maintenance of electrical installations that will be installed in the Park and/or in the Building and/or
    in the Leased Premises by the Lessor, the insurance of electrical installations as aforesaid, operation and maintenance of the electricity
    control systems in the Park and facilities thereof however except for the electricity installations that are installed in the Leased
    Premises by the Lessee. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	2.	General
    

 

	 	2.1.	All
    Electricity Services to the Leased Premises shall be provided by the Lessor. 
	 	 	 
	 	2.2.	Billing
    the Lessee for the provision of the Electricity Services shall be made based upon the reading of an electricity meter that will measure
    the supply of electricity to the Leased Premises, in addition to charges in respect of [handwritten: fixed] use as stated
    in this Appendix hereunder. 
	 	 	 
	 	2.3.	The
    Lessee hereby reiterates its undertaking to use solely the Electricity Services that are provided by the Lessor and it shall not
    approach Israel Electric Corp. with a request to install a separate meter and/or a separate and/or direct supply of electricity and/or
    to make direct payment to IEC. The Lessee shall incur all the losses of the Lessor in the event the Lessee presents such a request
    as aforesaid. The foregoing shall not derogate from the right of Israel Electric Corp. Ltd to connect the Lessee directly to the
    electricity network and the supply of Electricity Services that are provided by the IEC at its sole discretion and following coordination
    with the Lessor. 
	 	 	 
	 	2.4.	The
    Lessee shall have no claim on any grounds against the IEC in respect of failure to supply electricity and/or disruptions in its supply,
    including in respect of electronic or other equipment that is installed by the Lessee, if installed, in the Leased Premises. The
    Lessee undertakes to indemnify the IEC in respect of any expense and damage caused to it as a result of any claim in connection with
    the matters specified above on behalf of an invitee and/or an authorized person on behalf of the Lessee. This section shall not exempt
    any other person or entity from their liability by law. 
	 	 	 
	 	2.5.	The
    Lessor shall provide to the Lessee Electricity Services to the Leased Premises when the manner of use of the electricity in the Leased
    Premises themselves shall be subject to the discretion of the Lessee and in accordance with the provisions set forth in any law and/or
    condition and/or rules regarding electricity and use thereof and subject to the other provisions set forth in this Appendix. 
	 	 	 
	 	2.6.	All
    facilities, equipment, systems and the like that are related to the supply of electricity to the Park and/or the Building in general
    and to the Leased Premises that were leased to the Lessee in particular shall be designed according to the best judgment of skilled
    professionals in this field on behalf of the Lessor, and in the quality, standard, quantity, size, type and the like as determined
    by the said professionals. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	3.	Allocation
    of payments 

 

At
the time of making each payment by the Lessee the Lessor shall be entitled to determine, at its discretion, the account to which the
amount billed will be paid. For the avoidance of doubt, as long as the Lessor does not notify the Lessee otherwise, each payment that
is made by the Lessee shall be allocated first in respect of Rent and then in respect of Maintenance Fees, electricity and afterwards
in respect of the other expenses according to their order.

 

	4.	Inspection
    of electrical facilities in the Leased Premises 

 

	 	4.1.	The
    Lessor shall be entitled to visit the Leased Premises at any reasonable time upon delivery of advance notice and inspect the safety
    and compliance of any electrical facility with the customary safety standards. 
	 	 	 
	 	4.2.	In
    case the Engineer is of the opinion that a certain electrical facility that was installed in the Leased Premises might cause damage
    to the general electricity system in the Park and/or in the Building and/or that it may cause a safety nuisance and risk and/or that
    it does not comply with customary safety standards and/or that the load that it puts on the electricity supply system might disrupt
    the operation of the system – the Engineer shall be entitled to demand the repair and/or replacement and/or the modification
    of the facility and the Lessee undertakes to take all measures that are required for the purpose of fulfilling the requirement of
    the Engineer in 14 days. 
	 	 	 
	 	4.3.	The
    Lessee shall be held liable for any damage caused to the property and/or the electrical facility in the Leased Premises and/or in
    the electricity System outside the Leased Premises as a result of the operation of a defective electrical facility as stated above.
    

 

	5.	Modifications
    and additions in the electricity system 

 

The
Lessee shall not be entitled to implement any additions and/or modifications and/or additions to the electricity supply facilities that
will be provided to the Leased Premises without obtaining the prior and written approval of the Lessor. The Lessor shall be entitled
to disconnect and/or remove immediately any extension, modification, addition and the like that were implemented without obtaining the
prior and written approval of the Lessor and at the expense of the Lessee, without derogating from the liability of the Lessee for any
damage caused to the electricity supply facilities as a result of such work as aforesaid.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

Any
modification, extension and/or addition in the electricity supply facilities that is required by the Lessee beyond this Agreement and
that are approved by the Lessor as stated above shall require additional payment.

 

	6.	Access
    and maintenance of electricity facilities 

 

	 	6.1.	The
    Lessee shall grant access to any qualified employee on behalf of the Lessor at any reasonable hour to any electrical facility in
    the Leased Premises for the purpose of inspection, testing, installation, repair, replacement of defective parts, removal, dismantling,
    assembly and other works that the Lessor deems necessary in the electrical facilities that provide Electricity Services to the Leased
    Premises. 
	 	 	 
	 	6.2.	For
    the purpose of implementing the works as aforesaid the Lessor shall be entitled to disconnect temporarily and for the period of time
    that is required, however following advance coordination with the Lessee, to the extent possible, the electricity supply to the Leased
    Premises and provided that the period of time in which the electricity supply to the Leased Premises is reasonable while taking into
    account the type of the work in the Leased Premises. 
	 	 	 
	 	6.3.	The
    Lessee shall take measures to remove and/or relocate any facility that may impede the access and implementation of the works as stated
    above. 

 

	7.	Ownership
    in instruments and equipment 

 

Any
device, accessory and any other item of equipment that are related to the electricity supply services that were installed by the Lessor
shall be the exclusive property of the Lessor, whether or not the Lessee participated in the expenses of their purchase and/or installation
and/or connection and the like of the said equipment.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	8.	Liability
    for the property of the Lessor 

 

	 	8.1.	The
    Lessee shall be prohibited from performing any work of any kind in the instruments, accessories and other equipment belonging to
    the electricity supply systems of the Leased Premises without obtaining the prior and written approval of the Lessor for the implementation
    of works not by the Lessor as aforesaid. 
	 	 	 
	 	8.2.	The
    Lessee shall be responsible for protecting all the equipment specified above including integrity thereof during the entire term of
    lease and/or the use of the Leased Premises and shall be held liable towards the Lessor for any damage caused to the equipment that
    does not derive from reasonable wear. 

 

	9.	Supply
    of electricity by the Lessee 

 

The
Lessee may not supply and/or sell electricity and/or to provide any Electricity Services that were provided to it by the Lessor whether
or not for payment and in any other manner to authorized persons and to other possessors in accordance with the Agreement unless the
electricity supply is in the area of the Leased Premises.

 

	10.	Limitation
    of liability of the Lessor in power outages 

 

	 	10.1.	The
    Lessor shall be entitled to disconnect or limit the supply of Electricity Services to the Leased Premises and to other locations
    in the Building and/or the Park in the following circumstances: 

 

	 	10.1.1.	In
    any event of outage or limitation in the electricity supply emanating from an internal and/or external malfunction in the main electricity
    supply system in the Building and/or the Park, such as national or regional power outages emanating from the systems of the IEC or
    the internal power distribution network of the Building and/or the Park. 
	 	 	 
	 	10.1.2.	In
    any event in which there is risk to the body or to property. 
	 	 	 
	 	10.1.3.	In
    any other circumstances in which the Engineer instructs that such outage is necessary. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	10.2.	In
    any event in which it is possible to notify the Lessee that there is a scheduled disruption of the provision of the Electricity Services
    the Lessor shall deliver advance notice in connection therewith in the manner prescribed by the Lessor. 
	 	 	 
	 	10.3.	The
    Lessor shall not be held liable and shall not incur any damage caused to the Lessee in respect of power outages in the circumstances
    specified above and/or in any other circumstances over which the Lessor has no control. 

 

	11.	Contingencies
    

 

If
as a result of a law, regulation, order or an action performed by a government authority or any other competent authority, there is a
need, at the discretion of the Lessor, to implement any changes in the electricity supply system to the Leased Premises, the Lessor shall
implement the said changes and the Lessee shall raise no allegations and/or claims in respect of the implementation of the change as
aforesaid.

 

	12.	Determining
    the electric power consumed in the Leased Premises 

 

	 	12.1.	The
    amount of electric power consumed in the Leased Premises is part of the components for which the Lessee shall pay usage fees for
    the provision of Electricity Services. 
	 	 	 
	 	12.2.	The
    amount of electric power (in kWh) that the Lessee consumes in the Leased Premises shall be measured by a separate meter that will
    be installed in the meters cabinet in the Building and/or in any other location in the Park as determined by the Lessor. 
	 	 	 
	 	12.3.	The
    reading of the meter will be made by the qualified employees on behalf of the Lessor or in computerized electronic means and shall
    serve as conclusive evidence with relation to the amount of electricity that was consumed. 
	 	 	 
	 	12.4.	In
    case the meter did not function properly for a certain period of time, or did not operate at all, due to a malfunction or for any
    other reason, or in circumstances in which the Lessee consumed electricity in the Leased Premises not by the meter or in a manner
    that is not agreed in accordance with the Agreement and this Appendix, the Lessor shall make a calculation of the electricity consumed
    during the said period of time by way of an estimate according to the consumption rate in previous periods, and in case this is unnecessary,
    the estimate will be made by way of a comparison to the consumption in other areas in the Park where activities that are similar
    to the activities of the Lessee in the Leased Premises are performed. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	12.5.	In
    case the Lessee disagrees with the estimates of the Lessor as stated in subsection 12.4 above, the Engineer shall decide in this
    matter and his decision may be appealed by the Lessee. 
	 	 	 
	 	12.6.	In
    any other circumstances in which the Lessee disagrees with the manner of calculation of the electricity consumption in the Leased
    Premises, the Lessee’s arguments shall be examined by the competent employees on behalf of the Lessor and in case it is found
    in this examination that the calculation was inaccurate for a reason that is not contingent on the Lessee, the calculation will be
    corrected and the Lessee will be credited and/or debited, as the case may be, in the subsequent bill with the amount required following
    correction of the mistake. 
	 	 	 
	 	12.7.	In
    any event of an inspection that is conducted at the request of the Lessee as stated above and in which it is found that the arguments
    of the Lessee are unfounded and that all the equipment that was installed by the Lessor works properly, the Lessee shall be required
    to incur the costs of the inspection in the amount that will be determined by the Lessor from time to time. 

 

	13.	Termination
    of supply of Electricity Services during the Term of Lease 

 

	 	13.1.	In
    any event in which the Lessee defaults in payment of any of the electricity bills delivered to it, the Lessor shall be entitled to
    disconnect the electricity supply to the Lessee after delivery of a written notice. 
	 	 	 
	 	13.2.	In
    case of termination of the electricity supply as aforesaid, the Lessee shall solely incur all costs, damages and losses in respect
    of the said termination. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	14.	Termination
    of provision of Electricity Services upon expiration of the Term of Lease 
	 	 
	 	After
    the Lessor takes possession of the Leased Premises following the evacuation of the Leased Premises by the Lessee upon expiration
    of the Term of Lease or following any other circumstances in which the Lessee vacates the Leased Premises and terminates use thereof,
    whether in accordance with the Agreement and whether following breach thereof, the meter connected to the Leased Premises shall be
    read and its data shall be recorded. The said reading will be used in the final settling of accounts between the parties in anything
    related to the calculation of the payment that is due from the Lessee to the Lessor in respect of the provision of the Electricity
    Services. 
	 	 
	15.	Payment
    in respect of the provision of Electricity Services 
	 	 
	 	The
    rate that will be used for the purpose of charging the Lessee for the amount of electricity consumed in the Leased Premises shall
    be the rate that is customary from time to time in the IEC for electricity consumption in time of use in low voltage. The foregoing
    shall also apply to the payment required by the IEC as fixed payment.
	 	 
	16.	Payment
    dates 

 

	 	16.1.	The
    Lessee shall be obligated to pay to the Lessor the costs of use of the Electricity Services as stated above, according to the bill
    that will be submitted to the Lessee once a month. 
	 	 	 
	 	16.2.	Payment
    for the supply of electricity shall be charged by the Lessor each month or every two months according to the customary practice in
    the IEC and according to the amount of electricity that was consumed. Payment will be charged in the manner that Maintenance Fees
    and/or Rent are collected or a payment that will be made directly to the bank account of the Lessor as provided from time to time
    in the bills for payment on the date provided by the Lessor and in accordance with the instructions set forth by the Lessor at its
    discretion. 

 

	17.	Securities
    

 

The
securities that the Lessee shall provide in accordance with the Agreement shall also be used as a security for the payment of the amounts
that are due to the Lessor from the Lessee in respect of the provision of the Electricity Services during the current period of billing
and a security for the liability of the Lessee for the protection of the electricity equipment that was provided by the Lessor. The Lessor
shall be entitled, at its discretion, to use the securities and/or a part thereof to cover any amount that is due to the Lessor from
the Lessee in respect of the use of the Electricity Services. In case the Lessor used the securities, in whole or in part, the Lessee
shall be obligated, immediately upon receiving demand, to extend and/or make good the amounts of the securities. The provision of the
securities as aforesaid shall not derogate from any other right of the Lessor in accordance with the provisions set forth in any law,
in accordance with the Agreement and in accordance with this Appendix.

 

	[Signature
    and Stamp: Africa Israel Properties Ltd]

    [Signature
    and Stamp: Sharda Ltd]
	 	[Signature
    and Stamp: SciGen Il Ltd

    513679555]

	The
    Lessor	 	The
    Lessee

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

Appendix
E

 

Certificate
of Insurance for the Leased Premises

 

Date:
______________

 

	To
    	To
    	To
    
	Africa
    Israel Properties Ltd 	Ayalot
    Investments (Ramat Vered) 1994 Ltd	Sharda
    Ltd 

 

and/or
parent companies and/or subsidiaries and/or fellow subsidiaries and/or associated companies and/or related companies (hereinafter collectively:
“the Lessor”)

 

Re:
Certificate of Insurance of the Leased Premises

 

We
confirm that we arranged for ______________ (hereinafter: “the Lessee”) insurances for the Leased Premises as stated
in section 17.1 of the agreement made between you and the Lessee dated _____________, as specified hereunder, in respect of the Leased
premises that are leased by the Lessee in ______________ in Rehovot (hereinafter: “the Leased Premises” and “the
Building”) for the period as of ______________ and until ___________________ (at midnight) (hereinafter: “Insurance Period”)
according to the following specification:

 

	 	(1)	Property
    insurance – this policy shall provide insurance coverage in full value and in full reinstatement value for the content of the
    Leased Premises and any other property brought to the Leased Premises and/or to the Building by or for the Lessee and any repair,
    modification, enhancement, renovation and addition in the Leased Premises that were implemented and/or that will be implemented by
    the Lessee and/or for the Lessee and furniture, equipment, facilities and stocks of any kind against the customary risks in “extended
    fire” insurance including the following risks: loss or damage due to fire, smoke, lighting, explosion, earthquake, riots, strikes,
    willful damage, flood, damage by storm, damage by vehicles and aircrafts, water and other fluids and splitting of pipes, sonic damages,
    collision and break-in. 
	 	 	 
	 	(2)	Consequential
    loss insurance providing insurance coverage for the loss of income and loss of gross earnings to the Lessee as a result of loss or
    damage caused to the insured property in accordance with section 1 above and/or to the Leased Premises and/or the Building due to
    the risks specified in subsection 1 above in full value and for an indemnification period that shall not fall below 12 months. 

 

The
insurances specified in subsections 1 and 2 above include an express provision according to which the insurer waives any right of subrogation
towards the Lessor and/or the management company of the Building (hereinafter: “Management Company”) and/or anyone acting
on their behalf and/or towards the other lessees and/or possessors in the Building and/or their employees and managers whose insurance
policies include a clause regarding waiver of the right of subrogation towards the Lessee and provided that the waiver of the right of
subrogation shall not apply in favor of a person who caused willful damage.

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	 	(3)	Third
    party liability insurance – providing insurance coverage for the liability of the Lessee towards any third party, including
    its guests, invitees, customers, the Lessor and the Management Company and anyone acting on their behalf and in their name in a liability
    limit that shall not fall below an amount in NIS equal to $5,000,000 (million U.S. dollars) per event and for an annual insurance
    period. The said insurance shall not be subject to any limitation regarding liability arising out of fire, explosion, panic, hoisting,
    loading and unloading devices, defective sanitary fixtures, poisoning, anything harmful in foods and beverages, liability in respect
    of and towards contractors, subcontractors and their workers and claims of subrogation on behalf of the National Insurance Institute.
    The insurance shall be extended to indemnify the Lessor and the Management Company including in respect of their liability as the
    owners and/or managers of the Leased Premises in respect of bodily harm up to an amount of $50,000 per event and in respect of their
    liability for the acts and/or omissions of the Lessee and/or anyone acting on its behalf and subject to a cross-liability clause
    according to which the insurance shall be deemed to have been arranged separately for each of the members of the insured while indicating
    that the Lessor and/or the Management Company shall not be responsible for the payment of any premium. 
	 	 	 
	 	(4)	Employers’
    liability insurance in respect of the company of the Lessee towards anyone employed by the Lessee and on its behalf in a liability
    limit that shall not fall below an amount in NIS equal to $5,000,000 (five million U.S. dollars) per event and for an annual insurance
    year. The said insurance shall not include any limitation regarding hours of work, baits and poisons and youth employment. The said
    insurance is extended to indemnify the Lessor and/or the Management Company in case they are considered to be the employers of the
    employees of the Lessee and/or any thereof. In addition, the insurance includes waiver of the right of subrogation towards the Lessor
    and/or the Management Company and/or anyone acting on their behalf however the said waiver shall not apply in favor of a person who
    caused willful damage. 

 

We
confirm that all of the insurances specified above are not subject to the fulfillment of any safety and/or security recommendations/demands
and/or that all of our recommendations/demands were fulfilled to our full satisfaction.

 

We
hereby confirm that the said insurances supersede any insurance that was arranged by the Lessor and/or the Management Company and that
we waive any demand or allegation regarding the participation in the insurances of the Lessor and/or the Management Company. In addition,
we undertake that the insurance and the policy will not be diminished, canceled or expire unless a written notice is delivered to you
in registered mail at least 60 in advance.

 

	 	Sincerely,
	 	 
	 	Signature
    of the Insurer

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

Appendix
E1 – Certificate of Insurance for the Lessee’s Works

 

Date:
_____________

 

	To
    	To
    	To
    
	Africa
    Israel Properties Ltd 	Ayalot
Investments (Ramat Vered) 1994 Ltd
	Sharda
    Ltd 

 

and/or
parent companies and/or subsidiaries and/or fellow subsidiaries and/or associated companies and/or related companies (hereinafter collectively:
“the Lessor”)

 

Dear
Sir/Madam,

 

	 	Re:
    	Certificate
    of Insurance in the name of _________________ (hereinafter: “the Lessee”)
	 	 	 
	 	 	In
    connection with the lease of a property in the building of the Lessor in the Rehovot Park that is situated in block 3649 in part
    of parcels 8 and 9 (hereinafter respectively: “the Leased Premises” and “the Building”)

 

We
hereby confirm that as of ______________ and until ____________ (hereinafter: “Period of Works”) and for an extended
maintenance period of 12 months (the period of the works and the maintenance period hereinafter collectively: “Insurance Period”)
our company arranged contractor insurance (Policy No. ___________) in the name of the Lessee, contractors and subcontractors (in any
rank) and in the name of the Lessor and the Management Company of the Building (hereinafter: “Management Company”) providing
insurance coverage for the works that are implemented by the Lessee and/or anyone acting on its behalf (hereinafter: “the Works”)
as specified hereunder, when the scope of coverage provided in accordance with the said insurance shall not fall below the scope of coverage
that is provided in accordance with the policy that is known as “Bit” 2006 (or any other equivalent version of the “Bit”
policy at the time of arranging the insurance) including all extensions that constitute an integral part of the policy as aforesaid:

 

	1.	Chapter
    1 – insurance coverage for the Works in full value (including materials that are supplied by the Lessor and/or the Management
    Company) (if any) against loss or damage caused during the period of implementation of the Works in the works site and during the
    maintenance period in respect of the fulfillment of the undertakings of the Lessee during this period and/or the detection of damage
    during the maintenance period due to a cause that occurred during the period of implementation of the Works. This chapter includes
    a clause regarding waiver of the right of subrogation towards the Lessor and/or the Management Company (if any) and/or anyone acting
    on their behalf and towards other lessees, tenants and other right holders in the Building (the other lessees, tenants and right
    holders shall be referred hereinafter collectively: “Other Right Holders”) whose property insurance includes a parallel
    clause regarding waiver of the right of subrogation towards the Lessee and/or in an agreement that grants to the Other Right Holders
    as aforesaid rights in the Building there is an exemption from liability in favor of the Lessee in respect of loss or damage caused
    to the property of the Other Right Holders due to the customary risks in contractor insurance or in an extended fire insurance however
    the said waiver shall not apply in favor of a person who caused willful damage. In addition, the chapter includes an express extension
    regarding coverage to surrounding property and property being worked upon in a liability limit in the amount of $500,000 (five hundred
    thousand U.S. dollars). 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

	2.	Chapter
    2 – third party liability insurance in respect of liability arising out of the Works in the liability limits as stated hereunder.
    The said chapter includes a cross-liability clause according to which the insurance shall be deemed to have been arranged separately
    for each of the members of the insured. The chapter states expressly that the Building of the Leased Premises is considered as third
    party property. 

 

Liability
limit: $5,000,000 per event and cumulatively for the Insurance Period.

 

The
said chapter is extended to include the following:

 

	 	A.	Claims
    of subrogation by the National Insurance Institute. 
	 	B.	Bodily
    harm deriving from the use of heavy equipment that is a motor vehicle and when there is no obligation to arrange compulsory insurance
    for the said vehicle. 
	 	C.	Liability
    for damage that is caused to vibrations and weakening of supports in a liability limit in the amount of $250,000 per event. 

 

	3.	Chapter
    3 – employers’ liability insurance providing insurance coverage for the liability of any person employed in the implementation
    of the Works in respect of bodily harm or an occupational disease that might be caused to any thereof in the course of and following
    their employment as aforesaid in a liability limit of $5,000,000 per claimant, per event and cumulatively for an annual Insurance
    Period. This insurance does not include any limitation regarding works in height and in depth, hours of work, baits and poisons,
    contractors, subcontractors and their workers and youth employment. In addition, the insurance includes waiver of the right of subrogation
    towards the Lessor and/or the Management Company (if any) and/or anyone acting on their behalf, however the said waiver shall not
    apply in favor of a person who caused willful damage. 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

     

    

 

The
policy specified above shall supersede any insurance that was arranged by the Lessor and/or the Management Company (if any) and we waive
any allegation and/or demand regarding the participation of the insurances of the Lessor and/or the insurances of the Management Company
(if any). In addition, breach of the terms and provisions set forth in the policy in good faith by the Lessor and/or anyone acting on
its behalf shall not derogate from the rights of the Lessor and/or the rights of the Management Company (if any) to recover indemnification
in accordance with the policy. In addition, we undertake that the policy specified above shall not be canceled and shall not change adversely
during the Insurance Period unless a written notice is delivered in registered mail to the Lessor and the Management Company (if any)
at least 60 days in advance. For the avoidance of doubt, we confirm that the Lessee shall be solely responsible to pay the insurance
premiums for the said policy and shall incur the deductible amount applicable to the policy as aforesaid.

 

Subject
to the terms and exclusions specified in the original policies to the extent that they were not expressly modified in accordance with
the provisions set forth hereinabove.

 

Sincerely,

 

	 	 	 	 	 	 	 
	(Stamp
    of Insurer)	 	(Signature
    of the Insurer)	 	(Name
    of Signatory)	 	(Position
    of Signatory)

 

	 	 

 

    	[Signature and Stamp: Africa Israel Properties Ltd]
[Signature and Stamp: Sharda Ltd]
	[Signature and Stamp: SciGen Il Ltd
513679555]

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