Document:

Exhibit
4.7

 

English
Summary of the Office and Parking Space Lease Agreement dated as of December 17, 2007 by and between Industrial Buildings Corporation
Ltd. (the “Landlord”) and Kornit Digital Ltd. (the “Company”) (the “Original Lease Agreement”),
as amended by those certain (i) Addendum dated 2007 (the “First Parking Space Addendum”), (ii) Addendum to Lease
Agreement dated 2007 (the “Second Parking Space Addendum”), (iii) Addendum to Lease Agreement dated March 12,
2012 (the “First Addendum”), (iv) Addendum to Lease Agreement dated 2012 (the “Third Parking Space Addendum”),
(v) Addendum to Lease Agreement dated December 16, 2012 (the “Second Addendum”), (vi) Addendum to Lease Agreement
dated May 20, 2013 (the “Third Addendum”), (vii) Addendum to Lease Agreement dated January 12, 2014 (the “Fourth
Addendum”), (viii) the Addendum to Lease Agreement dated January 12, 2014 (the “Fifth Addendum”), (ix)
the Addendum to Lease Agreement dated December 27, 2015 (the “Sixth Addendum”), (x) the Addendum to Lease Agreement
dated December 28, 2015 (the “Seventh Addendum”), (xi) the Addendum to the Lease Agreement dated October 17,
2017 (the “Eighth Addendum”), (xii) the Addendum dated February 21, 2018 (the “Ninth Addendum”),
(xiii) an Addendum to the Lease Agreement dated April 23, 2018 (the “Tenth Addendum”) and (xiv) Addendum to
the Lease Agreement dated January 3, 2019 (the “Eleventh Addendum”) (collectively, the “Lease Agreement”).

 

	 	●	Subject
    Matter of the Lease Agreement: Unprotected lease of spaces on the ground floor and on the first floor of the building
    described in the Lease Agreement located at 10 and 12 Ha’Amal Street, Rosh Ha’Ayin, Israel that will be used by
    the Company for offices and parking spaces.

 

	 	●	Term
    of Lease Agreement:

 

	 	○	The
    term of the Original Lease was eight (8) years commencing on the delivery date (the “Original Lease Period”).
    The Company had the right to terminate the lease as of the end of the fifth year of the Original Lease Period, subject to
    six months prior written notice, provided that the Company pays a one-time special early termination payment
    (the “Special Payment”) equal to the balance of the rest of the Improvement Amount (as defined below)
    per square meter multiplied by two times the number of remaining months for which the Company is required to pay rental fees.
	 	 	 
	 	○	As
    of the end of the third year of the Original Lease Period, the Company has the right to sub-lease the premises to a substitute
    tenant, subject to the Landlord’s prior written consent (not to be unreasonably withheld).
	 	 	 
	 	○	Estimated
    delivery date was to be May 10, 2008, but delivery occurred in August 2008.
	 	 	 
	 	○	The
    term of the Original Lease Period expires on August 31, 2016 and the term of the period with respect to all of the addenda
    is also August 31, 2016.
	 	 	 
	 	○	Pursuant
    to the Sixth Addendum, the Original Lease Period was extended to December 31, 2020. Unless one party notifies the other at
    least 180 prior to the end of the Original Lease Period, the Lease Agreement shall be automatically extended for an additional
    term of five (5) years (the “Optional Lease Period”). 

 

	 	●	Premises
    Covered by the Lease Agreement:

 

	 	○	As
    set forth in Exhibit A, beginning on the date of the Original Lease Agreement and over the period of the remaining
    addenda forming the Lease Agreement, the Company leased a total of 3,661 square meters.
	 	 	 
	 	○	Pursuant
        to the Seventh Addendum, the Company leased an additional 2,918 square meters (the “Additional Property”).

                                                          

        Pursuant
        to the Eighth Addendum, the Company and the Landlord reached an agreement with respect to the actual square meters leased
        by the Company pursuant to a measurement the Landlord conducted. According to the Eighth Addendum the Company leases 7,605
        square meters. The Company was required to pay a one-time lump sum of NIS 482,351 for the excess premises.

 

     

     

    

 

	 	○	Pursuant
    to the Ninth Addendum, the Company leased additional 25.2 square meters (the “New Property”). 
	 	 	 
	 	○	The
    Company originally leased ninety-eight (98) parking spaces, and currently leases one hundred and eighty four (184) parking
    spaces.

 

	 	●	Right
    Of First Refusal:

 

	 	○	If
    the Landlord decides to lease additional spaces in the building, the Company will be given the right of first refusal regarding
    parts of those additional spaces as listed below:

 

	 	■	Out
    of the spaces that will be offered for lease on the ground floor – the Company will be given the right of first refusal
    with respect to space of at least 500 square meters which are adjacent to the Property. Out of the spaces that will be offered
    for lease in the first floor – the Company will be given the right of first refusal with respect to space of at least
    800 square meters which adjacent to the Property.

 

	 	■	In
    accordance with the Seventh Addendum, out of spaces that will be offered for lease on the second floor, the Company will be
    given the right of first refusal with respect to space of at least 500 square meters which are adjacent to a specific portion
    of the Additional Property.

 

	 	○	This
    right of first refusal will not be transferred to a substitute tenant if there will be such will be in the future under a
    sublease or transfer of the lease.

 

	 	●	Rental
    Fees:

 

	 	○	Under
    Appendix B to the Original Lease Agreement, which set the basic rental fees mechanism, the Company was to pay, at the first
    day of each month the amounts as listed in Exhibit A hereto.

 

	 	○	The
    Basic Rental Fees were increased upon the execution of the addenda pursuant to which the Company leased additional space.
    The details of such increases are set forth on Exhibit A hereto.

 

	 	○	The
    monthly rental fees for the parking spaces are detailed in Exhibit A hereto.

 

	 	○	VAT
    and Consumer Price Index – All rental fees are plus VAT and are linked to the Israeli Consumer Price Index.

 

	 	●	Improvements:
    

 

	 	○	According
    to the First and Second Addendums, the space leased thereunder is leased in an “AS-IS” condition. The Company carried
    out improvements on such spaces at its own expense.

 

	 	○	According
        to the Seventh Addendum, the Landlord agreed to participate in certain costs of improvement of common areas.

        According
        to the Ninth Addendum, the space leased thereunder is leased in an “AS-IS” condition.

 

	 	●	Guarantees:

 

	 	○	All
    the Guarantees that were provided by the Company are detailed in Exhibit A.

 

	 	●	Dispute
    Resolution:

 

	 	 	The
    parties agree that any competent court in Tel Aviv is chosen by them as exclusive jurisdiction in any matter relating to the
    Lease Agreement.

 

	 	●	Other
    Terms under the Lease Agreement:

 

	 	○	The
    Company shall bear all fees, municipal or local taxes, utility payments etc., associated with the management of the company’s
    business during the term of the Original Lease Period.

 

	 	○	The
    Landlord shall bear all fees, municipal or local taxes, utility payments etc., which are levied on the Landlord by law. 

 

	 	○	Each
    party has agreed to assume responsibility for any damage, injury or loss (bodily or otherwise) resulting from any act, omission
    or negligence on its part, and with respect of the Company relating to its use of the Premises.

 

    2

     

    

 

	 	 	Space

    that

    has been

    leased

    in square

    meters (gross)	 	 	Space

     that

    has been

    leased

    in square

    feet	 	 	Rental fees for
    the leased space.	 	Parking

    space that

    has been

    leased	 	Rental
    fees

    regarding

    parking space	 	Guarantees*	 	Comments
	Original
    Lease Agreement December 17, 2007	 	 	1,300	 	 	 	14,000	 	 	Included
    in Sixth Addendum Below	 	 	 	Included
    in Sixth Addendum Below	 	Included
    in Sixth Addendum Below	 	 
	First Parking
    Space Addendum	 	 	-	 	 	 	-	 	 	 	 	 	 	 	 	 	 	 
	Second Parking
    Space Addendum	 	 	-	 	 	 	-	 	 	 	 	 	 	 	 	 	 	 
	First Addendum March 8,
    2012	 	 	463	 	 	 	5,000	 	 	Included in Sixth
    Addendum Below	 	 	 	Included in Sixth
    Addendum Below	 	Included in Sixth
    Addendum Below	 	 
	Third Parking
    Space Addendum”	 	 	-	 	 	 	-	 	 	Included in Sixth
    Addendum Below	 	 	 	Included in Sixth
    Addendum Below	 	 	 	 
	Second Addendum
    December 19, 2012	 	 	414	 	 	 	4,400	 	 	Included in Sixth
    Addendum Below	 	 	 	Included in Sixth
    Addendum Below	 	Included in Sixth
    Addendum Below	 	 
	Third Addendum
    May 20, 2013	 	 	

        169
        + 205
	 	 	 	4,000	 	 	Included in Sixth
    Addendum Below	 	 	 	Included in Sixth
    Addendum Below	 	Included in Sixth
    Addendum Below	 	 
	Fourth Addendum
    January 12, 2014	 	 	85	 	 	 	900	 	 	Included in Sixth
    Addendum Below	 	 	 	Included in Sixth
    Addendum Below	 	Included in Sixth
    Addendum Below	 	 
	Fifth Addendum
    January 12, 2014	 	 	745	 	 	 	8,000	 	 	Included in Sixth
    Addendum Below	 	 	 	 	 	Included in Sixth
    Addendum Below	 	 

 

    3

     

    

 

	 	 	Space

that

has been

leased

in square

meters (gross)	 	 	Space

 that

has been

leased

in square

feet	 	 	Rental fees for the leased space.	 	Parking

 space that

 has been

 leased	 	Rental fees

 regarding

 parking space	 	Guarantees*	 	Comments
	Sixth Addendum December 27, 2015	 	 	-	 	 	 	-	 	 	
        Extension of term of Lease - with rental fees as follows:

         

        ● NIS 153,762 from the date of the addendum until 30.11.18

        

        ● NIS 157,423 from 1.12.18 until the end of the current period

        

        ● NIS 165,294 from 1.1.21 until 31.12.25
	 	Total 145 parking spaces	 	Current Rate: NIS 140 per month for covered parking space NIS 350 per month for reserved parking space NIS 185 per month for uncovered parking space	 	Aggregate bank guarantee of NIS 832,699 and promissory note of NIS 3,330,279	 	 
	Seventh Addendum
    December 12, 2015	 	 	2,918	 	 	 	31,409	 	 	NIS 105,048 during the current period and NIS 110,300 during the option period	 	 	 	NIS 350 per month per parking space (if Kornit uses parking spaces currently rented out)	 	(i) bank guarantee in the amount of NIS 546.933 and (ii) two promissory notes in the amount of NIS 2,187,730 each	 	 
	Eight Addendum October 17, 2017	 	 	7,698	 	 	 	 	 	 	For September 2017 – NIS 408,467 

For 3,339 square meters: October 2017 – December 31, 2020 –– NIS 36 per square meter; January 1, 2021- December 31, 2025 – NIS 37.8 for square meter. 

For 4,266 square meters: October 1, 2017 – November 30, 2018 – NIS 42 for square meter; December 1, 2018 – December 31, 2020 - NIS 43 for square meter; January 1, 2021 – December 31, 2025 – NIS 45.15 for square meter. 

The rent fees are linked to the CPI of October 2015 and exclude VAT. 	 	Total 169 parking spaces	 	6 parking spaces – NIS 140 per space; 

20 parking spaces – NIS 350 per space; 

90 parking spaces – NIS 185 per space; 

35 parking spaces – NIS 185 per space; 

10 parking spaces – without consideration 

All fees are linked to the October or August 2015 CPI and exclude VAT.	 	 	 	 

  

    4

     

    

  

	 	 	Space

that

has been

leased

in square

meters (gross)	 	 	Space

 that

has been

leased

in square

feet	 	 	Rental fees for the leased space.	 	Parking

 space that

 has been

 leased	 	Rental fees

 regarding

 parking space	 	Guarantees*	 	Comments
	Ninth Addendum February 21, 2018	 	 	25.2	 	 	 	 	 	 	February 25, 2018 – December 31, 2020 – NIS 36 per square meter. 

January 1, 2021 – December 31, 2025 – NIS 37.8 per square meter. 

Additional management fees – NIS 13 per square meter.	 	 	 	 	 	 	 	 
	Tenth Addendum April 23, 2018	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Correcting a typographical error in the Ninth Addendum with respect to the term of the option.
	Eleventh Addendum January 3, 2019	 	 	0	 	 	 	0	 	 	NA	 	15	 	15 parking spaces - NIS 350 per space. 

All fees are linked to the November 2018 CPI and exclude VAT.	 	 	 	 

 

 

5Exhibit 4.8

 

English Summary of the Lease Agreement
dated as of March 25, 2010 by and between Benbenishti Engineering Ltd. (the “Landlord”) and Kornit Digital Ltd.
(the “Company”) (the “Original Lease Agreement”), as amended by an Addendum dated November 21,
2011, an Addendum dated September 16, 2014, an Addendum dated March 16, 2015, an Addendum dated August 31, 2017 and an Addendum
dated June 24, 2018 (collectively, the “Lease Agreement”).

 

		●	Subject
Matter of the Original Lease Agreement: Unprotected lease of the ground floor in the Building (as defined in the Original
Lease Agreement) and 10 Parking Spaces (the “Original Premises”) that will be used by the company for the purpose
of manufacture and storage of ink products. Premises are located in Kiryat Gat, Israel.

 

		●	Term
of Original Lease Agreement:

 

	 	o	The term of the Original Lease Agreement was five (5) years commencing on June 1, 2010 and ending on May 30, 2015 (the “Original Lease Period”).

 

	 	o	The Company was given the option to extend the term of the Original Lease Period by a three (3) years period, ending on May 30, 2018 (the “Extension Period”). This extension option is subject to the condition that the Company will provide a written notice, at least 120 days before the end of the Original Lease Period.

 

	 	o	The Company exercised its right to extend the Original Lease Period.

 

	 	●	Addendums to the Original Lease Agreement:

 

	 	o	On November 21, 2011, the Company and the Landlord signed an Addendum to the Original Lease Agreement, in which the company leased additional premises on the first floor of the Building (also in an unprotected lease) (the “Additional Premises ”).

 

	 	o	The term of the Additional Premises was three (3) years, commencing on March 1, 2011 (the “Additional Premises Lease Period”).

 

	 	o	The Company was given the option to extend the term of the Additional Premises Lease Period by a two (2) year period, ending on May 30, 2015. The Company subsequently exercised this option.
	 	 	 
	 	o	On September 16, 2014, the Company was given an additional option to extend the term of the Additional Premises Lease Period by a three (3) year period, ending on May 30, 2018.
	 	 	 
	 	o	On March 16, 2015, the Company was given an additional option to extend the term of the lease of the Premises by a three (3) year period, ending on May 31, 2021.
	 	 	 
	 	o	
        On August 31, 2017 the Company
and the Landlord agreed that the lease of the Original Premises and Additional Premises will be extended until May 31, 2021, and
the Company was given an additional option to extend the term of the lease by a three (3) years period, ending on May 31, 2024.
During this option period, the Company shall be entitled to terminate the lease by providing 180–days’ prior notice
to the Landlord.

	 	 	 
	 	o	On June 24, 2018, the Company and the Landlord signed an additional Addendum to the Original Lease in which the Company leased additional premises (the “Second Premises” and together with the Original Premises and the Additional Premises, the “Premises”) and four more parking spaces. 

 

	 	●	Premises Covered by the Lease Agreement:

 

	 	o	Under the Original Lease, the Company leased 1,082.5 square meters (gross) (approximately 11,500 square feet) and 10 Parking Spaces. Pursuant to the Original Lease, the property was leased to the Company in an “AS-IS” condition, except for a 100 square meters space inside the property that was needed for renovation in order to accommodate it to office space.

 

	 	o	In addition, beginning in November 2011, the Company leased the Additional Premises, which are comprised of 291 square meters (gross) (approximately 3,100 square feet).
	 	 	 
	 	o	On June 24, 2018, the Company leased the Second Premises, which are comprised of 400 square meters (gross) (approximately 4,305 square feet).

 

     

     

    

 

		●	Rental
Fees:

 

	 	o	Under the terms of the Lease Agreement, during the first two (2) years of the Original Lease Period, the monthly rental fees for the Original Premises were NIS 30 per square meter plus VAT for the Original Premises and, through November 1, 2013, 26 NIS plus VAT per square meter for the Additional Premises (the “Basic Rental Fee”).

 

	 	o	From the period beginning on June 1, 2012 with respect to the Original Premises and the period beginning November 2, 2013 with respect to the Additional Premises, the Basic Rental Fee increases each year by 2.5% compared to the Basic Rental Fee in the previous year.

 

	 	o	
        From the period beginning June 1, 2015
        and ending on May 31, 2016, the monthly rental fees for the Premises were NIS 34.19 per square meter plus VAT (the “Updated
        Basic Renal Fee”).

         

        Commencing on June 1, 2016, the Updated
        Basic Rental Fee increases each year by 2% compared to the Updated Basic Rental Fee in the previous year.

	 	 	 
	 	o	In all cases, rental fees shall be increased (but not decreased) based on changes to the Israeli Consumer Price Index.
	 	 	 
	 	o	Under the terms of the Addendum dated June 24, 2018, the rental fees for the Second Premises are NIS 32.5, plus VAT, per square meter.  During the period between June 1, 2021 and May 31, 2024 the rent will increase by 2% compared to the Updated Basic Rental Fee in the previous year. 

 

	 	●	Guarantees:

 

	 	o	Under the Lease Agreement, the Company provided to the Landlord (i) three (3) promissory notes for NIS 75,000 each; (ii) an unconditional bank guarantee in an amount of NIS 120,000, index-linked to the Israeli Consumer Price Index, which is to be valid for fourteen (14) months, and to be extended by the Company to remain in effect for the duration of the term of the Lease Agreement and for sixty (60) days thereafter; and (iii) a cash deposit equal to two (2) months’ rental fee.

 

	 	●	Other Terms under the Lease Agreement:

 

	 	o	The Company has a right to sub-lease parts of the premises, subject to the Landlord’s prior written consent (not to be unreasonably withheld), provided that the Company will remain responsible for fulfilling all of its obligations under the Lease Agreement. The Company may also transfer its rights to the premises to a substitute tenant on terms that are no less favorable than the terms of the Lease Agreement and subject to the Landlord’s prior written consent (not to be unreasonably withheld), provided that the lease period of the substitute tenant will be shorter or coincide with the lease period under the Lease Agreement and that the Company will remain responsible for all of its obligations for the Landlord under this agreement.

 

	 	o	The landlord has a right to sell or otherwise transfer the property to a third party provided that the transferee will accept all of the Landlord’s obligations under the Lease Agreement and that the Company’s rights under the Lease Agreement will not be affected.

 

	 	o	The Company agreed to assume responsibility for all fees, municipal or local taxes, utility payments and other similar fees or expenses; provided that the Landlord shall bear any and all taxes and fees.

 

	 	o	Each party has agreed to assume responsibility for any damage, injury or loss (bodily or otherwise) resulting from any act, omission or negligence on its part and the Company has assumed all such responsibility relating to its use of the Premises.

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