Document:

Exhibit 4.17

 

International

 

		Att:	The First International Bank of Israel Ltd

		 	Branch - 041 - Ramat Gan

 

	 	Customer name: AudioCodes Ltd
	 	 
	 	Account No.: ###-######       Branch: 041
	 	 
	 	Loan No. 000000108    Date: May 13th 2008

 

Request for receipt of
a loan in foreign currency

 

Within the framework of the general terms for administration
of the account, the general terms for receipt of loans in Israeli currency and foreign currency (hereinafter: “the general
terms”) which were signed by us and subject to their terms, we request that you provide us with a loan in foreign currency
as follows:

		1.	Currency of the loan - foreign currency of type 01- US dollars

 

		2.	Sum of loan: 3,500,000.00

 

		3.	Date of provision of the loan - date of crediting the account with the sum of the loan.

 

		4.	Date of defrayal of the loan capital -

 

		x	Monthly payment

In 020 equal and consecutive payments

Totalling 175,000.00 each, every 3 months on
the 13th of the month starting from August 2008 and the final payment totalling ______________ on _____________

    	 

    	 

    

 

		 ̈	Monthly payments - on the last day of the month

____ equal and consecutive payments

Totalling ________ each, every __month/s on the last day of the month
starting from __________ and the final payment totalling ______________ on _____________.

		 ̈	One payment:

On ______________.

		 ̈	Various payments:

In payments and on dates as detailed in Form 26a attached as an appendix
to this request.

		5.	The interest on the loan

		a.	Interest rate

 

		 ̈	Fixed interest - at a rate of _____% per annum (adjusted interest
______% per annum).

		x	Variable interest - at a rate of rounded Libor interest, as defined
in the general terms, plus a margin at a rate of 0.6500% per annum (rounded Libor interest plus the margin on the date of
the request is 3.4000% per annum, adjusted interest 3.5017% per annum).

    	2

    	 

    

 

		b.	Dates of defrayal of interest

		 ̈	On the date(s) of defrayal of the capital of the loan as detailed
above.

		x	Every 03 month/s on the 13th of the month
starting from September 13th 2008 and final payment on the date of defrayal of the final payment on account of
the capital of the loan.

		 ̈	Every __ month/s on the ___ of the month starting from _________________
and final payment on the date of defrayal of the final payment on account of the capital of the loan.

		c.	Calculation of the interest

Notwithstanding that stated in the general rules, the interest on the loan in foreign currency in Sterling shall be calculated
according to the number of days in each period of interest as compared to a year of 365 days.

		d.	Accrual of interest

		 ̈	Accrual of interest in a “bullet” loan when both the
capital and the interest are defrayed in one payment at the end of the term of the loan:

From the date of the loan and onwards, the interest on the loan capital
shall be accrued and shall be added to the loan capital on each of the following dates, and this shall also bear compound interest
at a rate stated in Section 5 (a) above:

    	3

    	 

    

 

		 ̈	Each _____ month/s on the ____ of the month starting from ___________.

		 ̈	Each _____ month/s on the last day of the month starting from ___________.

		 ̈	Accrual
of interest during the period of deferral of interest payments (“grace”):

From the date of provision of the loan until the end of the “grace”
period the interest on the capital of the loan shall accrue and shall be added to the capital of the loan at the end of each period
of 12 months, and shall also bear compound interest as stated in Section 5(a) above.

At the end of the “grace” period the interest that accrued
as aforementioned shall be deducted from the loan capital to which it was added and shall be defrayed in full on the date of defrayal
(unclear) in Section 5(b) above.

Stamp: The First International Bank

              of Israel Ltd (signature)

		6.	Commissions

		a.	Preparation and checking of the documents commissions totalling NIS 5300 which shall be paid on the date of provision
of the loan. The sum of the loan, for the purpose of determination of the commission shall be calculated in NIS according to the
representative exchange rate on the date of determination of the commission.*

    	4

    	 

    

 

		b.	Collection fees for the periodic (capital) return, totalling NIS 4.50 correct for today, that shall be paid on the date
of defrayal of each payment on account of the loan capital.

		c.	Additional expenses/charges collected in advance:

Stamp duty: NIS ________, other expenses NIS ___________

		d.	Exchange rate list price for purchase of the currency of the loan against charge of the checking account in Israeli currency,
at a rate of _____% of the minimum sum for payment ________ maximum _______ in currency ______________ correct for today (subject
to another arrangement, if there is such), that the payment for each period of defrayal for each payment of capital and/or interest.

		e.	The list price commission for recording a transaction in a foreign currency account totals NIS 1.21, for each transaction,
minimum NIS 6.05 per month correct for today (subject to another arrangement, if there is such) for registration of the
loan in the account on the date of its provision for every periodic return of the loan. The commission is collected at the start
of every month, for the previous month.

    	5

    	 

    

 

		7.	Effective cost

The effective cost of the loan is 3.5386% per annum.*

		8.	Instructions for charging the account

		a.	For the loan capital

		 ̈	Checking account in Israeli currency

		x	Checking account in the currency of the loan

		b.	For the interest on the loan

		 ̈	Checking account in Israeli currency

		x	Checking account in the currency of the loan

		c.	For the commissions

The commissions shall be charged, in any event, to the checking account in Israeli currency. If on the date of charge of any commission
whatsoever no account in our name shall be administered for a checking account in Israeli currency, within the framework of the
account the number noted above, you shall be permitted to charge on the abovementioned date a checking account in the currency
of the loan also for the sums of commission. The sum of the commission for the purpose of charging the foreign currency shall be
calculated according to the representative exchange rate of the currency of the loan on the date of charging the commission.

    	6

    	 

    

 

		9.	Interpretation

The terms in this request shall have the meaning given to them in the general terms, unless stated explicitly otherwise.

	 	 	Audiocodes Ltd (signature)	 
	For internal use	 	Customer’s signature	 

 

* Commission for preparation/examination of documents and the
effective cost is calculated pursuant to the sum of the loan according to the representative exchange rate known on the date of
transfer of this request.

Calculation of the commission and the final effective rate shall be executed according to the representative exchange rate that
shall be published on the date of trading on which the commission shall be paid.

1. To the customer2. To the branch

    	7

    	 

    

 

International

 

		Att:	The First International Bank of Israel Ltd

Branch - 041 - Ramat Gan

	 	Customer name: AudioCodes Ltd
	 	 
	 	Account No.: ###-######      Branch: 041
	 	 
	 	Loan No. 000000205        Date: May 13th 2008

 

Request for receipt of
a loan in foreign currency

 

Within the framework of the general terms for administration
of the account the general terms for receipt of loans in Israeli currency and foreign currency (hereinafter: “the general
terms”) which were signed by us and subject to their terms, we request that you provide us with a loan in foreign currency
as follows:

		1.	Currency of the loan - foreign currency of type 01- US dollars

		2.	Sum of loan: 11,500,000.00

		3.	Date of provision of the loan - date of crediting the account with the sum of the loan.

    	8

    	 

    

 

		4.	Date of defrayal of the loan capital -

		x	Monthly payment

020 equal and consecutive payments

Totalling 575,000.00 each, every 3 months on
the 13th of the month starting from August 2008 and the final payment totalling ______________ on _____________

		 ̈	Monthly payments - on the last day of the month

____ equal and consecutive payments

Totalling ________ each, every __month/s on the last day of the month
starting from __________ and the final payment totalling ______________ on _____________.

		 ̈	One payment:

On ______________.

		 ̈	Various payments:

In payments and on dates as detailed in Form 26a attached as an appendix
to this request.

		5.	The interest on the loan

		a.	Interest rate

		 ̈	Fixed interest - at a rate of _____% per annum (adjusted interest
______% per annum).

		x	Variable interest - at a rate of rounded Libor interest, as defined
in the general terms, plus a margin at a rate of 1.5000% per annum (rounded Libor interest plus the margin on the date of
the request is 4.2500% per annum, adjusted interest 4.3924% per annum).

    	9

    	 

    

 

		b.	Dates of defrayal of interest

		 ̈	On the date(s) of defrayal of the capital of the loan as detailed
above.

		x	Every 03 month/s on the 13th of the month
starting from August 13th 2008 and final payment on the date of defrayal of the final payment on account of the
capital of the loan.

		 ̈	Every __ month/s on the ___ of the month starting from _________________
and final payment on the date of defrayal of the final payment on account of the capital of the loan.

		c.	Calculation of the interest

Notwithstanding that stated in the general rules, the interest on the loan in foreign currency in Sterling shall be calculated
according to the number of days in each period of interest as compared to a year of 365 days.

		d.	Accrual of interest

		 ̈	Accrual of interest in a “bullet” loan when both the
capital and the interest are defrayed in one payment at the end of the term of the loan:

  

    	10

    	 

    

 

From the date of the loan and onwards, the interest
on the loan capital shall be accrued and shall be added to the loan capital on each of the following dates, and this shall also
bear compound interest at a rate stated in Section 5 (a) above:

		 ̈	Each _____ month/s on the ____ of the month starting from ___________.

		 ̈	Each _____ month/s on the last day of the month starting from ___________.

		 ̈	Accrual
of interest during the period of deferral of interest payments (“grace”):

From the date of provision of the loan until the end of the “grace”
period the interest on the capital of the loan shall accrue and shall be added to the capital of the loan at the end of each period
of 12 months, and shall also bear compound interest as stated in Section 5(a) above.

At the end of the “grace” period the interest that accrued
as aforementioned shall be deducted from the loan capital to which it was added and shall be defrayed in full on the date of defrayal
(unclear) in Section 5(b) above.

Stamp: The First International Bank

           of Israel Ltd (signature)

    	11

    	 

    

 

		6.	Commissions

		a.	Preparation and checking of the documents commissions totalling NIS 5300 which shall be paid on the date of provision
of the loan. The sum of the loan, for the purpose of determination of the commission shall be calculated in NIS according to the
representative exchange rate on the date of determination of the commission.*

		b.	Collection fees for the periodic (capital) return, totalling NIS 4.60 correct for today, that shall be paid on the date
of defrayal of each payment on account of the loan capital.

		c.	Additional expenses/charges collected in advance:

Stamp duty: NIS ________, other expenses NIS ___________

		d.	Exchange rate list price for purchase of the currency of the loan against charge of the checking account in Israeli currency,
at a rate of _____% of the minimum sum for payment ________ maximum _______ in currency ______________ correct for today (subject
to another arrangement, if there is such), that the payment for each period of defrayal for each payment of capital and/or interest.

		e.	The list price commission for recording a transaction in a foreign currency account totalling NIS 1.21, for each transaction,
minimum NIS 6.05 per month correct for today (subject to another arrangement, if there is such) for registration of the
loan in the account on the date of its provision for every periodic return of the loan. The commission is collected at the start
of every month, for the previous month.

    	12

    	 

    

 

		7.	Effective cost

The effective cost of the loan is 4.4028% per annum.*

		8.	Instructions for charging the account

		a.	For the loan capital

		 ̈	Checking account in Israeli currency

		x	Checking account in the currency of the loan

		b.	For the interest on the loan

		 ̈	Checking account in Israeli currency

		x	Checking account in the currency of the loan

		c.	For the commissions

The commissions shall be charged, in any event, to the checking account in Israeli currency. If on the date of charge of any commission
whatsoever no account in our name shall be administered for a checking account in Israeli currency, within the framework of the
account the number of which is noted above, you shall be permitted to charge on the abovementioned date a checking account in the
currency of the loan also for the sums of commission. The sum of the commission for the purpose of charging the foreign currency
shall be calculated according to the representative exchange rate of the currency of the loan on the date of charging the commission.

    	13

    	 

    

 

		9.	Interpretation

The terms in this request shall have the meaning given to them in the general terms, unless stated explicitly otherwise.

	 	 	Audiocodes Ltd (signature)	 
	For internal use	 	Customer’s signature	 

 

* Commission for preparation/examination of documents and the
effective cost is calculated pursuant to the sum of the loan according to the representative exchange rate known on the date of
transfer of this request.

Calculation of the commission and the final effective rate shall be executed according to the representative exchange rate that
shall be published on the date of trading on which the commission shall be paid.

1. To the customer2. To the branch

 

    	14

    	 

    

 

International

 

		Att:	The First International Bank of Israel Ltd

Branch:  Ramat Gan

 

	 	Customer name: AudioCodes Ltd
	 	Clerk's Name: Sigalit
	 	Date of printout: May 13th 2008

 

Customer’s instruction for deposit
of a foreign currency deposit - non-renewable

 

Within the framework of the general rules for administration
of an account that we signed (hereinafter: “the general terms”) we request to charge on the date of deposit
into our checking account in the currency of the deposit the sum of the deposit, and in return to deposit in our favour a deposit
of the aforementioned type for a term and on conditions as detailed hereinafter:

 

	Currency of the deposit	Date of the deposit	Date of defrayal	Account No.	Type of Account	Branch
	US$	May 13th 2008	August 13th 2008	#######	506	041
	Sum of the deposit in foreign currency (capital of the deposit) 3.5M	Annual interest % 2.1%	Adjusted annual interest _____%
	 	 	 	 	 	 	 	 

		1.	Deposit of the deposit

		1.1.	We are aware that the bank shall be permitted, at its discretion, not to execute this request, in the absence of a sufficient
balance to execute it and/or if there shall be in the opinion of the bank a legal preclusion or any other preclusion for its execution.

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		1.2.	A request that shall be received at the bank after a time that shall be determined by the bank, from time to time, at the end
of the working day or at another time for receipt of a request of this type of request for execution on that same foreign currency
business day, the earliest between them, or a request that shall be received at the bank on a day which is not a foreign currency
business day, shall be executed on the first working day in foreign currency after the date of the request, and this day shall
be considered to be the date of the deposit.

In this document “a foreign currency business day” - a business day in the bank, in which the bank executes
transactions in the currency of the deposit, without limitation to the sums of the transactions and on which bank publishes transfers
and cheques rates.

		2.	The term of the deposit

The deposit shall be deposited for a period from the date of the deposit and until the date of the defrayal (not including this
day).

		3.	Interest on the deposit

The capital on the deposit shall bear fixed interest at a rate noted above, for the full term of the deposit in which the deposit
was deposited in the deposit account.

The interest on the deposit shall be calculated according to the number of days in the period of calculation of the interest as
compared to a year of 365 days.

    	16

    	 

    

In the event that a deposit has been deposited for
a period exceeding one year, the interest shall be calculated by annual compound interest.

		4.	Date of defrayal of the capital of the deposit and the interest

The capital of the interest and the deposit shall be defrayed to us in one payment, on the date of defrayal noted above, in favour
of our checking account in the currency of the deposit.

		5.	Prohibition of withdrawal prior to the date of defrayal

		5.1.	We shall not be permitted to withdraw the deposit or part of it other than on the date noted above, unless with the consent
of the bank in advance and in writing.

The bank shall be permitted to condition its consent on conditions that shall be determined by it including payment of the excess
cost to the bank, if there shall be such, as a result of withdrawal of the discount other than on the date of defrayal as aforementioned,
and all taking into consideration the damage that could be caused to the bank as a result of the aforementioned withdrawal.

		5.2.	Without derogating from the generality of the aforementioned, we are aware that in the event that the bank shall consent to
withdrawal of the deposit or part of it prior to the date of defrayal as aforementioned then, notwithstanding the aforementioned
in this document above, we shall not be entitled, inter alia, to interest on the sum withdrawn, for the period that passed
from the date of the deposit and until the date of its withdrawal.

    	17

    	 

    

 

		6.	Deferral of dates of defrayal

In the event that the date of defrayal shall fall on a day that is not a foreign currency business day (as defined in Section 1
above) the date of defrayal shall be deferred to the first working day in foreign currency following it, and the interest shall
be calculated pursuant to the actual date of defrayal.

		7.	Prohibition of transfer of rights

Our rights in regard to the deposit, in entirety or in part, shall not be transferred without the consent of the bank in advance
and in writing.

		8.	Tax deduction

If the duty by law, including foreign law, of withholding of any tax at source levy or other mandatory payment is imposed on the
bank, then the sum of the deposit and the interest on it shall be available to us on the date of defrayal only after deduction
of tax as aforementioned.

Without derogating from the generality of the aforementioned, the bank shall be permitted to charge our account for any sum that
the bank shall be required to transfer to an authorized authority for monies as aforementioned which were paid to us without withholding
of any tax at source.

    	18

    	 

    

 

		9.	Commission

The list price of the commission for recording a transaction in a foreign currency account (for deposit transactions and deposit
defrayal) shall be NIS1.21 for each transaction minimum NIS 6.95 per month, as of today (subject to another arrangement
if there is such) and it shall be collected at the start of the month following the execution of the transaction.

		10.	Interpretations

In the event of a contradiction between the provisions of this document and the general terms, the provisions of this document
shall have priority.

 

Audiocodes Ltd

(signature)

Customer’s signature

 

    	19Exhibit 4.18

 

International

 

		Att:	The First International Bank of Israel Ltd

 

Branch - 041 - Ramat Gan

 

Customer name: AudioCodes Ltd

Account No.: ###-######

Date: 27/09/2011

Loan No. 000000493

 

Request for receipt of a loan in foreign
currency

 

Within the framework of the general terms for administration
of the account, the general terms for receipt of loans in Israeli currency and foreign currency (hereinafter: the "General
Terms”) which were signed by us and subject to their terms, we request that you provide us with a loan in foreign currency
as follows:

 

		1.	Currency of the loan - foreign currency of type 01- US dollars

 

		2.	Sum of loan: 3,375,000.00

 

		3.	Date of provision of the loan - date of crediting the account with the sum of the loan.

 

		4.	Date of defrayal of the loan capital -

 

		x	Monthly payment

 

In 020 equal and consecutive
payments

 

Totalling 160,700.00
each, every 3 months on the 27th of the month starting from September 2012 and the final
payment totalling 161,000.00 on 27/09/2017.

 

    	 

    	 

    

 

		 ̈	Monthly payments - on the last day of the month

 

In ____ equal and consecutive
payments

 

Totalling ________ each, every
__month/s on the last day of the month starting from __________ and the final payment totalling ______________ on _____________.

 

		 ̈	One payment:

 

On ______________.

 

		 ̈	Various payments:

 

In payments and on dates as
detailed in Form 26a attached as an appendix to this request.

 

		5.	The interest on the loan

 

		a.	Interest rate

 

		 ̈	Fixed interest - at a rate of _____% per annum.

 

		x	Variable interest - at a rate of rounded Libor interest, as defined
in the general terms, plus a margin at a rate of 3.1000% per annum (rounded Libor interest plus the margin on the date of
the request is 3.4750% per annum).

 

    	2

    	 

    

 

		b.	Dates of defrayal of interest

 

		 ̈	On the date(s) of defrayal of the capital of the loan as detailed
above.

 

		x	Every 03 month/s on the 27th of the month
starting from 27/12/2011 and final payment on the date of defrayal of the final payment on account of the capital of the
loan.

 

		 ̈	Every __ month/s on the ___ of the month starting from _________________
and final payment on the date of defrayal of the final payment on account of the capital of the loan.

 

		c.	Calculation of the interest

 

The interest shall be calculated
in accordance with the General Terms, provided that the interest on a loan in foreign currency in Lira Sterling shall be calculated
according to the number of days in each period of interest as compared to a year of 365 days.

 

		d.	Accrual of interest

 

		 ̈	Accrual of interest in a “bullet” loan when both the
capital and the interest are defrayed in one payment at the end of the term of the loan:

 

From the date of the loan
and onwards, the interest on the loan capital shall be accrued and shall be added to the loan capital on each of the following
dates, and this shall also bear compound interest at a rate stated in Section 5 (a) above:

 

    	3

    	 

    

 

		 ̈	Each _____ month/s on the ____ of the month starting from ___________.

 

		 ̈	Each _____ month/s on the last day of the month starting from ___________.

 

		 ̈	Accrual of interest during the period of deferral of interest payments
(“Grace”):

 

From the date of provision
of the loan until the end of the “Grace” period the interest on the capital of the loan shall accrue and shall be added
to the capital of the loan at the end of each period of 12 months, and shall also bear compound interest as stated in Section 5(a)
above.

 

At the end of the “Grace”
period the interest that accrued as aforementioned shall be deducted from the loan capital to which it was added and shall be defrayed
in full on the date of defrayal (unclear) in Section 5(b) above.

 

Stamp: Audiocodes Ltd. /S/

 

		6.	Commissions

 

		a.	Preparation and checking of the documents commissions totalling NIS 3,312.50 which shall be paid on the date of provision
of the loan. The Shekel value of the loan sum, for the purpose of determination of the commission shall be calculated according
to the known exchange rate on the date of this request.

 

    	4

    	 

    

 

		b.	Collection fees for the periodic return, totalling NIS 5.20 correct for today, that shall be paid on the date of defrayal
of each payment on account of the loan capital.

 

		c.	Tariff commission (subject to another arrangement, if such exist), for the recording of an activity in the account, for the
recording of a loan on the grant date and for any periodic refund of the loan.

As of today, the commission rate is-

In a foreign exchange checking account – 1.45NIS
for any activity, minimum 7.25NIS per month.

In an Israeli checking account- 1.50NIS for
any activity.

The commission is collected at the beginning of every
month for the preceding month.

 

		d.	Exchange rate tariff commission (subject to another arrangement, if such exist) for purchase of the currency of the loan against
charge of the checking account in Israeli currency, at a rate of _____% of the minimum sum for payment ________ maximum _______
in currency ______________ correct for today, which shall be paid every repayment date for each payment of capital and/or interest.

 

		e.	Other expenses/ charges collected in advance _____ NIS.

 

		7.	Effective cost

 

The effective cost of the
loan, when it is calculated by the relevant data on the request date is 3.5786% per annum.

 

    	5

    	 

    

 

		8.	Instructions for charging the account

 

		a.	For the loan capital

 

		 ̈	Checking account in Israeli currency
	 	 	 

		x	Checking account in the currency of the loan

 

		b.	For the interest on the loan

 

		 ̈	Checking account in Israeli currency
	 	 	 

		x	Checking account in the currency of the loan

 

		c.	For the commissions

 

The commissions shall be charged
to the checking account in Israeli currency, unless we were instructed otherwise. If on the date of charge of any commission whatsoever
no account in our name shall be administered for a checking account in Israeli currency, or in another currency (which is not the
loan currency) which we requested you to charge the abovementioned commissions, within the framework of the account the number
noted above, you shall be permitted to charge on the abovementioned date a checking account in the currency of the loan also for
the sums of commission. The sum of the commission for the purpose of charging the foreign currency shall be calculated according
to the representative exchange rate of the currency of the loan on the date of charging the commission.

 

    	6

    	 

    

 

		9.	Non Payment on Time

 

Without derogating from your right to immediate
repayment of the loan according to the brought forth in the General Terms, any sum of the loan payment that shall not be paid by
us on the repayment date, shall bear interest as brought forth in the General Terms, which shall also accrue and bear compounded
interest as mentioned above, in the frequency and dates according to the dates of payment/ interest accrual or at the end of each
calendar quarter or upon any other period, all according to the bank's choosing and subject to the law.

 

		10.	Early repayment

 

Early repayment of the loan, entirely or partially,
prior to the dates prescribed for its repayment, shall be charged an early repayment charge and any other charge, as shall be determined
in the bank at the time of the early repayment.

If the Bank is permitted, according to the provisions
of any law, to charge an early repayment commission and/ or any other payment of varying rates, the Bank shall charge the greatest
of them. Furthermore, the Bank shall be permitted to stipulate the early repayment by the payment of minimal payment rates partially
of the loan and/ or by giving a prior notice and/ or any other condition.

 

		11.	Interpretation

 

The terms in this request
shall have the meaning given to them in the general terms, unless stated explicitly otherwise.

 

    	7

    	 

    

 

	/S/Audiocodes Ltd	 	116459
	 	 	 
	Customer’s signature	 	For internal use

 

    	8

    	 

    

 

International

 

		Att:	The First International Bank of Israel Ltd

 

Branch - 041 - Ramat Gan

 

Customer name: AudioCodes
Ltd

Account No.: ###-######

Date: 27/09/2011

Loan No. 000000302

 

Request for receipt of
a loan in foreign currency

 

Within the framework of the general terms for administration
of the account, the general terms for receipt of loans in Israeli currency and foreign currency (hereinafter: the "General
Terms”) which were signed by us and subject to their terms, we request that you provide us with a loan in foreign currency
as follows:

 

		1.	Currency of the loan - foreign currency of type 01- US dollars

 

		2.	Sum of loan: 3,375,000.00

 

		3.	Date of provision of the loan - date of crediting the account with the sum of the loan.

 

		4.	Date of defrayal of the loan capital -

 

		x	Monthly payment

 

In 020 equal and consecutive
payments

 

Totalling 160,700.00
each, every 3 months on the 27th of the month starting from September 2012 and the final
payment totalling 161,000.00 on 27/09/2017.

 

    	9

    	 

    

 

		 ̈	Monthly payments - on the last day of the month

 

In ____ equal and consecutive
payments

 

Totalling ________ each, every
__month/s on the last day of the month starting from __________ and the final payment totalling ______________ on _____________.

 

		 ̈	One payment:

 

On ______________.

 

		 ̈	Various payments:

 

In payments and on dates as
detailed in Form 26a attached as an appendix to this request.

 

		5.	The interest on the loan

 

		a.	Interest rate

 

		 ̈	Fixed interest - at a rate of _____% per annum.

 

		x	Variable interest - at a rate of rounded Libor interest, as defined
in the general terms, plus a margin at a rate of 2.1000% per annum (rounded Libor interest plus the margin on the date of
the request is 2.4750% per annum).

 

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		b.	Dates of defrayal of interest

 

		 ̈	On the date(s) of defrayal of the capital of the loan as detailed
above.

 

		x	Every 03 month/s on the 27th of the month
starting from 27/12/2011 and final payment on the date of defrayal of the final payment on account of the capital of the
loan.

 

		 ̈	Every __ month/s on the ___ of the month starting from _________________
and final payment on the date of defrayal of the final payment on account of the capital of the loan.

 

		c.	Calculation of the interest

 

The interest shall be calculated
in accordance with the General Terms, provided that the interest on a loan in foreign currency in Lira Sterling shall be calculated
according to the number of days in each period of interest as compared to a year of 365 days.

 

		d.	Accrual of interest

 

		 ̈	Accrual of interest in a “bullet” loan when both the
capital and the interest are defrayed in one payment at the end of the term of the loan:

 

From the date of the loan
and onwards, the interest on the loan capital shall be accrued and shall be added to the loan capital on each of the following
dates, and this shall also bear compound interest at a rate stated in Section 5 (a) above:

 

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		 ̈	Each _____ month/s on the ____ of the month starting from ___________.

 

		 ̈	Each _____ month/s on the last day of the month starting from ___________.

 

		 ̈	Accrual of interest during the period of deferral of interest payments
(“Grace”):

 

From the date of provision
of the loan until the end of the “Grace” period the interest on the capital of the loan shall accrue and shall be added
to the capital of the loan at the end of each period of 12 months, and shall also bear compound interest as stated in Section 5(a)
above.

 

At the end of the “Grace”
period the interest that accrued as aforementioned shall be deducted from the loan capital to which it was added and shall be defrayed
in full on the date of defrayal (unclear) in Section 5(b) above.

 

Stamp: Audiocodes Ltd. /S/

 

		6.	Commissions

 

		a.	Preparation and checking of the documents commissions totalling NIS 3,312.50 which shall be paid on the date of provision
of the loan. The Shekel value of the loan sum, for the purpose of determination of the commission shall be calculated according
to the known exchange rate on the date of this request.

 

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		b.	Collection fees for the periodic return, totalling NIS 5.20 correct for today, that shall be paid on the date of defrayal
of each payment on account of the loan capital.

 

		c.	Tariff commission (subject to another arrangement, if such exist), for the recording of an activity in the account, for the
recording of a loan on the grant date and for any periodic refund of the loan.

As of today, the commission rate is-

In a foreign exchange checking account – 1.45NIS
for any activity, minimum 7.25NIS per month.

In an Israeli checking account- 1.50NIS for
any activity.

The commission is collected at the beginning of every
month for the preceding month.

 

		d.	Exchange rate tariff commission (subject to another arrangement, if such exist) for purchase of the currency of the loan against
charge of the checking account in Israeli currency, at a rate of _____% of the minimum sum for payment ________ maximum _______
in currency ______________ correct for today, which shall be paid every repayment date for each payment of capital and/or interest.

 

		e.	Other expenses/ charges collected in advance _____ NIS.

 

		7.	Effective cost

 

The effective cost of the
loan, when it is calculated by the relevant data on the request date is 2.5414% per annum.

 

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		8.	Instructions for charging the account

 

		a.	For the loan capital

 

		 ̈	Checking account in Israeli currency
	 	 	 

		x	Checking account in the currency of the loan

 

		b.	For the interest on the loan

 

		 ̈	Checking account in Israeli currency
	 	 	 

		x	Checking account in the currency of the loan

 

		c.	For the commissions

 

The commissions shall be charged
to the checking account in Israeli currency, unless we were instructed otherwise. If on the date of charge of any commission whatsoever
no account in our name shall be administered for a checking account in Israeli currency, or in another currency (which is not the
loan currency) which we requested you to charge the abovementioned commissions, within the framework of the account the number
noted above, you shall be permitted to charge on the abovementioned date a checking account in the currency of the loan also for
the sums of commission. The sum of the commission for the purpose of charging the foreign currency shall be calculated according
to the representative exchange rate of the currency of the loan on the date of charging the commission.

 

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		9.	Non Payment on Time

 

Without derogating from your right to immediate
repayment of the loan according to the brought forth in the General Terms, any sum of the loan payment that shall not be paid by
us on the repayment date, shall bear interest as brought forth in the General Terms, which shall also accrue and bear compounded
interest as mentioned above, in the frequency and dates according to the dates of payment/ interest accrual or at the end of each
calendar quarter or upon any other period, all according to the bank's choosing and subject to the law.

 

		10.	Early repayment

 

Early repayment of the loan, entirely or partially,
prior to the dates prescribed for its repayment, shall be charged an early repayment charge and any other charge, as shall be determined
in the bank at the time of the early repayment.

 

If the Bank is permitted, according to the provisions
of any law, to charge an early repayment commission and/ or any other payment of varying rates, the Bank shall charge the greatest
of them. Furthermore, the Bank shall be permitted to stipulate the early repayment by the payment of minimal payment rates partially
of the loan and/ or by giving a prior notice and/ or any other condition.

 

		11.	Interpretation

 

The terms in this request
shall have the meaning given to them in the general terms, unless stated explicitly otherwise.

 

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	/S/Audiocodes Ltd	 	116459
	 	 	 
	Customer’s signature	 	For internal use

 

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