Document:

exv10w13

 

EXHIBIT 10.13

CONTRACT OF LEASE

Made and Entered into in Yokneam on the 15th of May,

2007

Between

Shaar Yokneam Ltd. Partnership

Partnership No. 550014666

P.O. Box 282, Yokneam

Who Shall Hereinafter Be Referred to for the Sake of

Brevity as “The Lessor”

The First Party

And Between

Mellanox Technologies, Ltd.

A Private Registered Company No. 512763285

Hermon House, Yokneam

Which Shall Hereinafter Be Referred to for the Sake of

Brevity as “The Lessee”

The Second Party

 

 

Fourth Addendum to Contract of Lease of 9.5.2001

To the First Addendum of 23.8.2001

To the Second Addendum of 23.8.2006

And to the Third Addendum of 26.10.2006

Made and Entered into in Yokneam

on the 15th of May 2007

Between

Shaar Yokneam, A Registered Limited Partnership

(Partnership No. 550014666)

Through its authorized signatories

Mr. Koby Ben Yakov (I.D. No. 10509131)

And Yitzchak (Tzachi) Levy (I.D. No. 22448534)

Authorized to sign on the partnership’s behalf and to bind the partnership.

Whose address for the purpose of this contract shall be

At the “Shaar Hacarmel” site

5 Nachum Chet Street, Tirat Carmel

Who shall hereinafter be referred to for the sake of brevity as “the Lessor”,

The First Party

And Between

Mellanox Technologies, Ltd. (a private registered company No. 512763285)

Through its authorized signatory Mr. Ayal Waldman (I.D. No. 56429095)

Authorized to sign on the company’s behalf and to bind the company

Whose address for the purpose of this contract shall be

At the Hermon Building, Shaar Yokneam, Yokneam

And who shall hereinafter be referred to for the sake of brevity as “the Lessee”,

The Second Party

	 	 	 
	Whereas

	 	The Lessor is the registered owner or leaseholder, as the case
may be, and the sole holder of possession of land in an area
of approximately

 

 

	 	 	 
	 

	 	62,000 m2 (hereinafter — “the
Land”) including whole parcels and parts of parcels in block
11098, excepting part of parcels 21 and 82 which are not
registered in the name of the Lessor and for whom Sultam,
Ltd., who sold the rights in the above said Land to the Lessor
undertook to acquire and to transfer the rights of ownership
or leasehold to the Lessor;
	 
	 	 
	And Whereas

	 	The Land as described above is in an area zoned for industry
according to the Local Planning Board plan C/297;
	 
	 	 
	And Whereas

	 	Amongst the other buildings built on the Land the building
known as Hermon House has been built on part of parcels 48,
49, 50, 79 and 80 in block 11098 in a building known as Hermon
House (hereinafter — “Hermon House”);
	 
	 	 
	And Whereas

	 	On 9.5.2001 a lease contract was signed between the Lessor and
the Lessee (hereinafter — “the Main Contract”) with respect to
“the Leased Premises”, as defined in the Main Contract
(hereinafter — “the Leased Premises”);
	 
	 	 
	And Whereas

	 	On 9.5.2001 a management contract was signed between the
Lessor and the Lessee regulating the management of the
building in which the Leased Premises are found (hereinafter -
“the Management Agreement”);
	 
	 	 
	And Whereas

	 	On 23.8.2001 an addendum to the Main Agreement was signed
between the Lessor and the Lessee (hereinafter — “the First
Addendum”) according to which an “Additional Area” was added
to the Leased Premises, as defined in the “First Addendum”,
and also 5 (five) parking places were added to the Leased
Premises (hereinafter — “the Additional Area”);
	 
	 	 
	 

	 	“The Leased Premises” plus “the Additional Area” including all
105 (one hundred and five) parking places, rented out to the
Lessee under the Main Contract and pursuant to the First
Addendum, shall

 

 

	 	 	 
	 

	 	hereinafter, for the sake of brevity, be
referred to as the “New Leased Premises”;
	 
	 	 
	And Whereas

	 	On 23.8.2001 an agreement was signed between the Lessor and
the Lessee regarding the execution of interior works in the
Leased Premises (hereinafter — “the Second Addendum”);
	 
	 	 
	And Whereas

	 	On 26.10.2006 a third addendum to the “Main Contract” was
signed between the Lessor and the Lessee according to which
the Lease Period which is the subject matter of the Main
Contract was extended (hereinafter — “the Third Addendum”);
	 
	 	 
	And Whereas

	 	The parties wish to alter the terms, conditions and provisions
of the Main Contract of the First Addendum and of the Third
Addendum pursuant to that stipulated below in this addendum of
the Main Contract (hereinafter: “The Fourth Addendum”) and all
of this in accordance with the terms and conditions and
provisions of this Addendum of the Main Contract;
	 
	 	 
	And Whereas

	 	The Lessee is interested in leasing from the Lessor and the
Lessor is interested in renting out to the Lessee, in addition
to the New Leased Premises, an additional area of
approximately 835 m2 located on the first floor
(above the ground floor) of Hermon House, which is marked in
red in the plans attached hereto as Appendix A of this
Addendum, and an additional area of approximately 55
m2 located at the entrance of Hermon House on the
ground floor, marked in yellow as detailed in the plans
attached hereto as Appendix A1 of this Addendum and in total
890 m2, constituting a material and integral part
hereof (hereinafter — “the Additional Area Pursuant to the
Fourth Addendum”) and all of this, under the terms and
conditions as detailed in this Addendum of the Main Contract;
	 
	 	 
	 

	 	“The New Leased Premises” plus “the Additional Area Pursuant
to the Fourth Addendum” shall hereinafter, for the sake of
brevity,

 

 

	 	 	 
	 

	 	be referred to as “the Current Leased Premises”;
	 
	 	 
	And Whereas

	 	Pursuant to the Main Contract, pursuant to the First Addendum,
pursuant to the Third Addendum and pursuant to this Addendum
of the Main Contract, the New Leased Premises, the Additional
Area Pursuant to the Fourth Addendum and the Current Leased
Premises are rented out to the Lessee under a lease which is
unprotected pursuant to the Protection of Tenancy Law
(Consolidated Version), 5732 — 1972 (hereinafter — “the Law”).

Therefore it is Stipulated and Agreed Between the Parties as Follows:

Preamble and Appendices

	1.	 	The preamble to this Addendum of the Main Contract and all appendices thereto as well as the
facts specified therein, constitute an integral and a material part of this Addendum and shall
be considered as if included in the body of this Addendum.

Changes to the Terms and Conditions of the Management Contract, the Management Contract, the
First Addendum and the Third Addendum

	2.	 	The parties hereby agree that all the terms and conditions and provisions of the Main
Contract, of the Management Contract, of the First Addendum and of the Third Addendum, shall
apply, according to the changes as detailed below in this Addendum of the Main Contract also
to the lease of the Current Leased Premises pursuant to the terms and conditions of this
Addendum.

The Addition of “The Additional Area Pursuant to the Fourth Addendum”

	3.	 	The parties hereby agreed that an additional area shall be added to the New Leased Premises
of approximately 835 m2 located on the first floor (above the ground floor) of
Hermon House, marked in red in the plans attached hereto as Appendix A of this
Addendum and an additional area of approximately 55 m2 located at the entrance of
Hermon House on the ground floor, marked in yellow as detailed in the plans attached
hereto as Appendix A1 of this Addendum, and in total 890 m2, that is to say
“the Additional Area Pursuant to the Fourth

 

 

	 	 	Addendum” and all of this pursuant to the terms and conditions of this Addendum.

The Adaptation of the “Additional Area Pursuant to the Fourth Addendum” and the Minutes of
Delivery

	4.	a.	 	 It is hereby agreed that the “Additional Area Pursuant to the Fourth Addendum” will be
delivered to the possession of the Lessee as a frame (shell) on 1.1.2008, after
receiving 4 (four) checks signed by the Lessee made out to the order of the Lessor and which
shall be delivered by the Lessee to the Lessor for the securing of the payment of the rent for
the lease of the “Additional Area Pursuant to the Fourth Addendum” for the period starting on
1.1.2008 and ending on 31.12.2008 and after receiving the “bank guarantee which is the subject
matter of the Fourth Addendum” pursuant to the provisions of Section 8 below.
	 
	 	b.	 	At the time of the delivery of possession of the “Additional Area Pursuant to
the Fourth Addendum”, minutes will be drawn up prior to delivery to be signed by both
parties to this Addendum and these minutes shall serve as prima facie proof that the
Lessee has received possession of the “Additional Area Pursuant to the Fourth
Addendum”, pursuant to the terms and conditions of this Addendum and to its complete
satisfaction (hereinafter — “the Minutes of Delivery of the Additional Area Pursuant
to the Fourth Addendum”).
	 
	 	 	 	If the Minutes of Delivery of the Additional Area Pursuant to the Fourth Addendum
are not drawn up for any reason, then the actual receiving of possession of the
Additional Area Pursuant to the Fourth Addendum shall be considered as confirmation
on the part of the Lessee and as prima facie proof that indeed the Additional Area
Pursuant to the Fourth Addendum has been delivered to the Lessee by the Lessor
pursuant to the terms and conditions of this Addendum and to its full and complete
satisfaction.
	 
	 	c.	 	The Lessee hereby declares that he has viewed the Additional Area Pursuant to
the Fourth Addendum, Hermon House, the Land and its surroundings and that he has found
the Additional Area Pursuant to the

 

 

	 	 	 	Fourth Addendum to be suitable and appropriate for all its purposes and needs
regarding the use thereof in accordance with its needs and in accordance with the
terms and conditions of this Addendum and that it hereby finally, completely and
fully and absolutely waives any claim for defect and/or discrepancy in connection
with the Additional Area Pursuant to the Fourth Addendum and/or in connection with
its surroundings and/or in connection with Hermon House and/or in connection with
the possibilities of utilizing it for its needs.
	 
	 	d.	 	The parties hereby agree that the Lessee shall be entitled to demand, in
writing, from the Lessor, by 30.4.2008 to carry out adaptation works in the
Additional Area Pursuant to the Fourth Addendum for the purpose of adapting the
Additional Area Pursuant to the Fourth Addendum for the needs of the Lessee in
accordance with the technical specifications attached hereto as Appendix B of
this Addendum and constituting an integral and material part hereof. Should the Lessee
demand that the Lessor execute the said Adaptation Works, it must submit, to the
Lessor, detailed work plans approved by it by no later than 30.6.2008.
	 
	 	 	 	Should the Lessee submit to it detailed work plans which have been approved by it
by 30.6.2008, as stated above, then, subject to the approval of these plans
by an authorized engineer on behalf of the Lessor, the Lessor will complete the
execution of the Adaptation Works in the Additional Area Pursuant to the Fourth
Addendum, pursuant to the specifications attached hereto as Appendix B of
this Addendum, by 1.1.2009.
	 
	 	 	 	The parties hereby agree that for the purpose of executing the Adaptation Works in
the Additional Area Pursuant to the Fourth Addendum to be executed by the
Lessor pursuant to the terms and conditions of this Addendum, if such are
executed, then Lessor shall bear the cost of the amount in New Israel Sheqels
equivalent to the amount of $240 (Two Hundred and Forty United States Dollars) for
every m2 (gross) of the Additional Area Pursuant to the Fourth Addendum.

 

 

	 	 	 	It is hereby clarified and agreed that all the payments and expenses involved in
the execution of the Adaptation Works in the “Additional Area Pursuant to the
Fourth Addendum for the Lessee’s purposes and which exceed the above said amount to
be paid by the Lessor pursuant to the above said, without exception, shall be fully
and exclusively paid by the Lessee upon demand of the Lessor.
	 
	 	e.	 	The parties hereby agree that the Lessee shall be entitled to execute various
works in the Additional Area pursuant to the Fourth Addendum, at its exclusive and
full expense, for the purpose of adapting it to the Additional Area Pursuant to the
Fourth Addendum, for its own needs, but this is subject to all the plans and works
which the Lessee intends carrying out in the Additional Area Pursuant to the Fourth
Addendum requiring the prior written approval of the Lessor.
	 
	 	 	 	It is hereby clarified and agreed that all the provisions of the Main Contract,
including the provisions in Sections 9, 19 and 31 of the Main Contract shall apply
to the execution of the Adaptation Works in the Additional Area pursuant to the
Fourth Addendum to be executed by the Lessee, should such be executed, and all of
this mutatis mutandis, as the case may be.
	 
	 	f.	 	It is hereby clarified and agreed that should the Lessor deliver to the
Lessee the actual possession in the Additional Area Pursuant to the Fourth Addendum
before 1.1.2008, then all the provisions of this Addendum, including in the matter of
the rate of the rent as detailed in Section 6 below, shall apply to the lease which is
the subject matter of this Addendum, starting from the date at which the actual
possession of the Additional Area Pursuant to the Fourth Addendum is delivered to the
Lessee.
	 
	 	g.	 	It is hereby agreed that the breach of Section 4 above and/or the breach of
any subsection thereof shall be considered as a fundamental breach both of this
Addendum and of the Main Contract.

 

 

The Lease Period for the Additional Area Pursuant to the Fourth Addendum

	5.	 	The parties hereby agree and undertake as follows:

	 	a.	 	The Lessor hereby leases to the Lessee the Additional Area Pursuant to the
Fourth Addendum and the Lessee hereby rents from the Lessor the Additional Area
Pursuant to the Fourth Addendum, and all of this under rent which is not protected
under the Protection of Tenancy Laws of all sorts including also under the Protection
of Tenancy Law, 5732 — 1972 and all of this for a fixed and limited period of 48
(forty-eight) months only, which shall start on 1.1.2008 and which shall end on
31.12.2011 (hereinafter — “the Lease Period of the Additional Area Pursuant to the
Fourth Addendum”).
	 
	 	b.	 	The Lessee is hereby given a conditional option (hereinafter — “the Option
for the Additional Area Pursuant to the Fourth Addendum”) to extend the “Lease Period
of the Additional Area Pursuant to the Fourth Addendum” together with the realization
of the “Option Pursuant to the Third Addendum”, as defined in the “Third Addendum”,
for a total period of time of 60 (sixty) months which shall start from 1.1.2012 and up
until 31.12.2016 (hereinafter — “the Extended Lease Period of the Additional Area
Pursuant to the Fourth Addendum”), but this shall be provided that the Lessee delivers
to the Lessor, by no later than 30.6.2011 [that is to say at least 6 (six) months
before the termination date of the “Lease Period of the Additional Area Pursuant to
the Fourth Addendum”], with prior written notice according to which it is fully
realizing its right pursuant to the “Option for the Additional Area Pursuant to the
Fourth Addendum” and that it is extending the “Lease Period of the Additional Area
Pursuant to the Fourth Addendum” up until the end of the “Extended Lease Period of the
Additional Area Pursuant to the Fourth Addendum”).
	 
	 	c.	 	To avoid any doubt, it is hereby emphasized and agreed that further to the
terms and conditions mentioned in Section 5(b) above, it is hereby agreed between the
parties that the Lessee shall not be entitled to continue with the lease pursuant to
the “Option for the Additional Area Pursuant to the

 

 

	 	 	 	Fourth Addendum”, and shall not be entitled to any extension of the lease which is
the subject matter of this Addendum, if it does not fully and timely fulfill all
the terms and conditions of this Addendum, including if it does not make the full
payments, pay the full rent and management fees which it has undertaken to pay
pursuant to the terms and conditions and provisions of this Addendum.
	 
	 	 	 	However, a delay in the providing of the notice for the realization of the “Option
for the Additional Area Pursuant to the Fourth Addendum” and/or a delay in the
payment of any payment whatsoever of the Rent which shall not exceed 15 (fifteen)
days from the date set out as the payment date of that relevant payment pursuant to
the terms and conditions of this Addendum shall not negate the right from the
Lessee to continue the lease pursuant to the “Option for the Additional Area
Pursuant to the Fourth Addendum” and pursuant to all other terms and conditions of
this Addendum.
	 
	 	 	 	For the avoidance of any doubt it is hereby emphasized and agreed that the
realization of the “Option Pursuant to the Third Addendum” which is the subject
matter of the “Third Addendum” shall be conditional on the Lessee also realizing
the “Option for the Additional Area Pursuant to the Fourth Addendum” pursuant to
the terms and conditions of this Addendum and also it is hereby agreed that the
realization of the “Option for the Additional Area Pursuant to the Fourth Addendum”
pursuant to the terms and conditions of this Addendum shall be conditional on the
Lessee also realizing the “Option Pursuant to the Third Addendum” pursuant
to the terms and conditions detailed in the “Third Addendum”.
	 
	 	d.	 	It is hereby agreed and emphasized that for the lease in the “Lease Period of
the Additional Area Pursuant to the Fourth Addendum” the terms, conditions and
provisions of the Main Contract, of the Management Contract, of the First Addendum and
of the Third Addendum shall apply and all of this subject to the changes to apply
pursuant to the terms and conditions of this Addendum.

 

 

	 	 	 	It is hereby agreed and emphasized that for the rent “in the Extended Lease Period
of the Additional Area Pursuant to the Fourth Addendum” all the terms, conditions
and provisions of this Addendum shall apply regarding the rent in the “Lease Period
of the Additional Area Pursuant to the Fourth Addendum”, but this shall be subject
to the requisite changes, including the rate of the rent as detailed below in this
Addendum.
	 
	 	e.	 	The Lessee shall not be entitled to shorten the “Lease Period of the
Additional Area Pursuant to the Fourth Addendum” and/or the “Extended of the Lease
Period of the Additional Area Pursuant to the Fourth Addendum” if indeed it duly
realizes with respect of such the “Option for the Additional Area Pursuant to the
Fourth Addendum” pursuant to the terms and conditions of this Addendum and all of
this, without receiving the prior written consent from the Lessor.
	 
	 	 	 	Furthermore it is hereby agreed that if the Lessee leaves the Leased Premises for
any reason whatsoever before the end of the “Lease Period of the Additional Area
Pursuant to the Fourth Addendum” or before the end of the “Extended Lease Period of
the Additional Area Pursuant to the Fourth Addendum”, as the case may be, without
receiving the prior written consent of the Lessor, the Lessee shall be obligated to
continue to pay the Lessor the full rent and management fees as detailed below in
this Addendum for all the balance of the “Lease Period of the Additional Area
Pursuant to the Fourth Addendum” and if it realizes the “Option for the Additional
Area Pursuant to the Fourth Addendum”, also for any balance of the “Extended Lease
Period of the Additional Area Pursuant to the Fourth Addendum”, as the case may be.
	 
	 	f.	 	The breach of Section 5 above and/or the breach of any subsection thereof
shall be considered a fundamental breach both of the Main Contract, of the First
Addendum, of the Third Addendum and also of this Addendum.

Rent and Management Fees — Rates, Payment Conditions and Payment Dates

 

 

	6.	 	The Lessee hereby undertakes to pay the Lessor Rent and Management Fees for the lease of the
“Additional Area Pursuant to the Fourth Addendum” as detailed below:

	 	 	 	 	 	 	 	 	 
	 

	 	a.
	 	 	1.	 	 	The Lessee hereby undertakes to pay the Lessor monthly Rent and Management
Fees for the lease of the “Additional Area Pursuant to the Fourth Addendum” during the
period starting from 1.1.2008 or from the actual date of delivery of possession in the
“Additional Area Pursuant to the Fourth Addendum”, according to the earlier of
the above said dates, and ending on 31.12.2008 which shall amount to a monthly amount
(principal) in New Israel Sheqels equivalent to the monthly amount (principal) of
$8,900 (Eight Thousand Nine Hundred United States Dollars) [according to the
calculation of the monthly Rent amounting to the monthly sum in New Israel Sheqels
equivalent to an amount of (principal) of $10 (Ten United States Dollars) for
every m2 of the Additional Area Pursuant to the Fourth Addendum] plus VAT
as required by law.
	 
	 

	 	 	 	 	 	 	 	It is hereby agreed between the parties that if, after 31.12.2008 the
Lessee continues to hold possession of the Additional Area Pursuant to the
Fourth Addendum in the frame (shell) form, the Lessee undertakes
to continue to pay the Lessor the monthly Rent and Management Fees for the
lease of the Additional Area Pursuant to the Fourth Addendum which shall
amount to a monthly amount (principal) in New Israel Sheqels, equivalent
to the monthly amount (principal) of $8,900 (Eight Thousand Nine Hundred
United States Dollars) [according to the calculation of the monthly Rent
amounting to the monthly sum in New Israel Sheqels equivalent to
(principal) of $10 (Ten United States Dollars) for every
m2 of the Additional Area Pursuant to the Fourth Addendum] plus
VAT as required by law and all of this up until the date at which the
execution of the Adaptation Works in the

 

 

	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Additional Area Pursuant to the Fourth Addendum has been adapted to the
needs of the Lessee.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	For the avoidance of doubt it is hereby clarified that should Adaptation
Works be execution in the Additional Area Pursuant to the Fourth Addendum
by the Lessor and/or by the Lessee, then, starting from the date at which
the said Adaptation Works have been completed, the provisions of Section
6(a)(2) below or 6(a)(3) below shall apply, as the case may be.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	2.	 	 	Should the Lessor execute Adaptation Works in the
Additional Area Pursuant to the Fourth Addendum according to the needs of the
Lessee and these works are completed by the Lessor by 31.12.2008
then the Lessee will be obligated to pay the Lessor monthly Rent and
Management Fees for the lease of the Additional Area Pursuant to the Fourth
Addendum during a period starting from 1.1.2009 and ending on 31.12.2011 which
shall amount to a monthly sum (principal) in New Israel Sheqels equivalent to
the monthly amount of (principal) $12,682.50 (Twelve Thousand Six Hundred and
Eighty-Two United States Dollars (and Fifty cents)) [according to the
calculation of the monthly Rent amounting to the monthly amount in New Israel
Sheqels equivalent to the monthly amount of (principal) $14.25
(Fourteen United States Dollars and Twenty-Five United States Cents) for every
1 m2 of the Additional Area Pursuant to the Fourth Addendum] plus
Value Added Tax as required by law.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	It is hereby agreed that should the Lessee demand that the Lessor execute
the Adaptation Works in the Additional Area Pursuant to the Fourth
Addendum and pursuant to the technical specifications attached hereto as
Appendix B of this Addendum, and the Lessor concludes the
execution of the Adaptation Works in the Additional Area Pursuant to the
Fourth Addendum before 1.1.2009, then the Lessee shall be obligated to the
pay the Lessor monthly Rent and

 

 

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Management Fees for the leasing of the Additional Area Pursuant to the
Fourth Addendum in the amount stipulated in this Section 6(a)(2) starting
from the date of the actual termination of the Adaptation Works in the
Additional Area Pursuant to the Fourth Addendum, as stipulated above and
up until 31.12.2011.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	3.	 	 	Should the Lessee execute Adaptation Works for its needs
in the Additional Area Pursuant to the Fourth Addendum, the Lessee will be
obligated to pay the Lessor monthly Rent and Management Fees for the lease of
the Additional Area Pursuant to the Fourth Addendum starting from the date at
which the Lessee has completed the Adaptation Works it required or starting
from the date at which the Lessee starts to use the Additional Area Pursuant
to the Fourth Addendum after executing the Adaptation Works required by it,
according to the earlier of these two dates and by 31.12.2011
which shall amount to a monthly amount (principal) in New Israel Sheqels
equivalent to the monthly amount (principal) of $10,012.50 (Ten Thousand and
Twelve United States Dollars (and Fifty United States Cents)) [according to
the calculation of the monthly Rent amounting to the monthly amount in New
Israel Sheqels equivalent to the monthly amount (principal) of $11.25
(Eleven United States Dollars and Twenty-Five United States Cents) for every 1
m2 of the Additional Area Pursuant to the Fourth Addendum] plus
Value Added Tax as required by law.

	 	b.	 	Should the Lessee exercise the Option for the Additional Area Pursuant to the
Fourth Addendum in accordance with all the terms, conditions and provisions of this
Addendum and rents the Additional Area Pursuant to the Fourth Addendum at the
frame (shell) level then the Lessee hereby undertakes to pay the Lessor
monthly Rent and Management Fees for the lease of the Additional Area Pursuant to the
Fourth Addendum, throughout the “Extended Lease Period of the Additional Area Pursuant
to the Fourth Addendum” which shall amount to a monthly

 

 

	 	 	 	sum (principal) in New Israel Sheqels equivalent to the monthly sum (principal) of
$9,790 (Nine Thousand Seven Hundred and Ninety United States Dollars) [that is to
say an addition of 10% (ten percent) to the Rent stipulated in Section 6(a)(1)
above] plus Value Added Tax as required by law.
	 
	 	c.	 	Should the Lessee exercise the Option for the Additional Area Pursuant to the
Fourth Addendum in accordance with the terms, conditions and provisions of this
Addendum and should the Lessor execute the Adaptation Works in the Additional Area
Pursuant to the Fourth Addendum pursuant to the terms and conditions of this
contract, then the Lessee hereby undertakes to pay the Lessor the monthly Rent and
Management Fees for the lease of the Additional Area Pursuant to the Fourth Addendum,
throughout the “Extended Lease Period of the Additional Area Pursuant to the Fourth
Addendum” which shall amount to the monthly sum (principal) in New Israel Sheqels
equivalent to the monthly sum (principal) of $13,950.50 (Thirteen Thousand Nine
Hundred and Fifty United States Dollars (and Fifty United States Cents)) [that is to
say an addition of 10% (ten percent) to the Rent stipulated in Section 6(a)(2) above]
plus Value Added Tax as required by law.
	 
	 	d.	 	Should the Lessee exercise the Option for the Additional Area Pursuant to the
Fourth Addendum pursuant to all the terms, conditions and provisions of this Addendum
and should the Lessee execute the Adaptation Works in the Additional Area Pursuant
to the Fourth Addendum, then the Lessee hereby undertakes to pay the Lessor
monthly Rent and Management Fees for the lease of the Additional Area Pursuant to the
Fourth Addendum throughout the “Extended Lease Period of the Additional Area Pursuant
to the Fourth Addendum” which shall amount to the monthly sum (principal) in New
Israel Sheqels equivalent to the monthly sum (principal) of $11,013.50 (Eleven
Thousand and Thirteen United States Dollars (and Fifty United States Cents)) [that is
to say an

 

 

	 	 	 	addition of 10% (ten percent) to the Rent stipulated in Section 6(a)(3) above] plus
Value Added Tax as required by law.
	 
	 	e.	 	The full monthly Rent and Management Fees which the Lessee must pay to the
Lessor for the lease of the Additional Area Pursuant to the Fourth Addendum throughout
the Lease Period of the Additional Area Pursuant to the Fourth Addendum and throughout
the Extended Lease Period of the Additional Area Pursuant to the Fourth Addendum, if
the Option for the Additional Area Pursuant to the Fourth Addendum is exercised
pursuant to the terms and conditions of this Addendum, will be paid by the Lessee to
the Lessor in 3 monthly consecutive and continuous payments, each time making payment
in advance for the full rent for 3 (three) additional months’ rent.
	 
	 	 	 	The payment dates of all the 3 monthly payments which the Lessee must make to the
Lessor for the leasing of the Additional Area Pursuant to the Fourth Addendum will
be on the 1st (first) of the following calendar months: January, April, July and
October which shall start from 1.1.2008 and up until the end of the Lease Period of
the Additional Area Pursuant to the Fourth Addendum pursuant to the terms and
conditions of this Addendum.
	 
	 	f.	 	In order to ease the collection of the full Rent and Management Fees which
the Lessee must pay to the Lessor for the leasing of the Additional Area Pursuant to
the Fourth Addendum throughout the Rent Term of the Additional Area Pursuant to the
Fourth Addendum, the Lessee will deliver to the Lessor, at the date of the signing of
this Addendum, 4 (four) cheques signed by him, drawn up to the payment of the Lessor
and in the full amount of the Rent and Management Fees (principal) referring to the
months of rent which shall apply starting from 1.1.2008 and ending on 31.12.2008.
	 
	 	 	 	This arrangement shall apply, mutatis mutandis, as the case may be, also with
respect of the balance of the Lease Period of the Additional Area Pursuant to the
Fourth Addendum and if the Option for the Additional

 

 

	 	 	 	Area Pursuant to the Fourth Addendum is exercised pursuant to all the terms,
conditions and provisions of this Addendum, then also throughout the Extended Lease
Period of the Additional Area Pursuant to the Fourth Addendum, in such a manner so
that by no later than 14 (fourteen) days before the commencement of every relevant
Lease Period of 12 (twelve) calendar months’ rent, the Lessee will deliver to the
Lessor 4 (four) additional cheques for the prior payment of the full Rent and
Management Fees pursuant to the terms and conditions of this Addendum for the
following 12 (twelve) months’ Rent, and all as the case may be.
	 
	 	 	 	The payment dates of these cheques shall be in accordance with the payment date
stipulated in Section 6(e) above.

The full linkage differences to the USCPI Index, which shall apply for the linkage
of the full Rent and Management Fees payments to the costs shall apply in the USCPI
Index pursuant to that stipulated in Section 7 below which shall be paid by the
Lessee to the Lessor in full and in effect at the payment dates of all the payments
in Section 6(e) above.
	 
	 	 	 	To avoid doubt, it is hereby agreed and emphasized that the delivery of the above
said cheques to the Lessor shall not be considered, under any circumstances, as
payment on account of the Rent and the Management Fees which the Lessee must and/or
which the Lessee will have to pay to the Lessor pursuant to the terms and
conditions of this Addendum, and only the full and actual payment to the Lessor of
these cheques shall be considered as payment on account of the Rent and the
Management Fees owing to the Lessor from the Lessee pursuant to the terms and
conditions of this Addendum.
	 
	 	 	 	Notwithstanding the above said it is hereby agreed by the parties that the Lessee
shall be entitled, at its discretion, to pay the Rent and the Management Fees which
it has undertaken to pay pursuant to the terms and conditions of this Addendum by
dollar bank transfer to the Lessor’s account, No. 15030050 which is conducted at
Bank Leumi of Israel, Ltd. (Yokneam Branch — Branch No. 876). The above said bank
transfer dates

 

 

	 	 	 	shall be at the payment dates of the Rent and the Management Fees as detailed in
Section 6(e) above.
	 
	 	 	 	Should the Lessee pay the Rent and the Management Fees by dollar bank transfer to
the above said account of the Lessor, the relevant cheques shall be returned to the
Lessee by the Lessor, which were delivered to the Lessor by the Lessee at the time
of the signing of this Addendum for the securing of the payment thereof, within 7
(seven) days from the date of receiving written demand by the Lessee for the return
of the relevant cheques.
	 
	 	g.	 	The breach of Section 6 above and/or the breach of any subsection thereof
shall be considered as a fundamental breach of the Main Contract, of the First
Addendum, of the Third Addendum and of this Addendum.

Linkage of the Payments to the Representative Rate in New Israel Sheqels of the United States
Dollar and the Increase in the USCPI Index

	 	 	 	 	 
	7.

	 	a.
	 	All payments of Rent and Management Fees which the Lessee must pay to the Lessor pursuant
to the terms and conditions of this Addendum and stipulated in this Addendum in United States
Dollars must be paid by the Lessee to the Lessor in New Israel Sheqels in accordance with the
representative rate in New Israel Sheqels of the United States Dollar known at the actual
payment date of each payment for the Rent and Management Fees as stated above, or for any part
of these payments, to be paid by the Lessee to the Lessor pursuant to the terms and conditions
of this Addendum.
	 
	 	 	 	 
	 

	 	b.
	 	The parties hereby agree that all payments of Rent and Management Fees which
the Lessee must pay to the Lessor pursuant to the terms and conditions of this
Addendum shall be paid by the Lessee to the Lessor fully linked to all increases
applying to the U.S. CPI Index and all pursuant to that detailed in the Main Contract,
but subject to the U.S. CPI basic index for the purpose of calculating the Rent which
the Lessee must pay to the Lessor for the leasing of the Additional Area Pursuant to
the

 

 

	 	 	 	 	 
	 

	 	 	 	Fourth Addendum to be published on 15.12.2006 for the month of November 2006
(hereinafter — “the Basic Index”).

Furthermore it is agreed and clarified that if any New Index is less than any New
Index — then the calculations of the linkage shall be drawn up in accordance with
the New Index most recently published prior to the actual date of the making of any
relevant payment.
	 
	 	 	 	 
	 

	 	c.
	 	It is hereby clarified that the provisions of Section 13 of the Main Contract
shall apply to the payment of Rent and Management Fees pursuant to the terms and
conditions of this Addendum, mutatis mutandis, as the case may be.
	 
	 	 	 	 
	 

	 	d.
	 	The breach of Section 7 above and/or the breach of any subsection thereof
shall be considered a fundamental breach of the Main Contract, of the First Addendum,
of the Third Addendum and of this Addendum.

Collateral

	 	 	 	 	 
	8.

	 	a.
	 	It is hereby agreed that all the collateral delivered
and/or to be delivered by the Lessee to the Lessor
pursuant to the provisions of the Main Contract, the
First Addendum and the Third Addendum, including all bank
guarantees which are the subject of the Main Contract and
the above said Addenda of the Main Contract shall serve
for the securing of the fulfillment of the Lessee’s
undertakings pursuant to that detailed in the Main
Contract, the First Addendum and the Third Addendum and
this Addendum of the Main Contract.
	 
	 	 	 	 
	 

	 	b.
	 	Furthermore, at the time of the signing of this Addendum, the Lessee hereby
undertakes to deposit an additional bank guarantee with the Lessor which shall be
independent, financial, unconditional and unreserved, of a recognized bank active in
Israel. This guarantee shall not be negotiable and shall be made out to the deposit of
the Lessor only.
	 
	 	 	 	 
	 

	 	 	 	This bank guarantee shall be made out in the sum of (principal) of $73,800
(Seventy-Three Thousand Eight Hundred United States Dollars) plus VAT as required
by law [comparable to the Rent and Management Fees for 9 (nine) months of rent plus
VAT as required by law]. This bank guarantee

 

 

	 	 	 	 	 
	 

	 	 	 	shall be fully linked to the increases applicable to the representative in New
Israel Sheqels of the United States Dollar pursuant to the ratio at which the
representative rate of the United States Dollar rises, as known at the time of the
actual exercising, compared with the representative rate of the United States
Dollar known at the time of issue (hereinafter — “the Bank Guarantee Which Is the
Subject Matter of the Fourth Addendum”).
	 
	 	 	 	 
	 

	 	 	 	The period of the Bank Guarantee Which Is the Subject Matter of the Fourth Addendum
shall be for the period of the Lease Period of the Additional Area Pursuant to the
Fourth Addendum plus 3 (three) additional calendar months.
	 
	 	 	 	 
	 

	 	c.
	 	If the Lessee exercises the Option for the Additional Area Pursuant to the
Fourth Addendum and the lease which is the subject matter of this Addendum is extended
for a period of the Extended Lease Period of the Additional Area Pursuant to the
Fourth Addendum, then up until the date at which 6 (six) full months of lease are
remaining up until the end of the Lease Period of the Additional Area Pursuant to the
Fourth Addendum the Lessee shall provide the Lessor with a document for extending the
validity of the Bank Guarantee Which Is the Subject Matter of the Fourth Addendum for
the period of the Extended Lease Period of the Additional Area Pursuant to the Fourth
Addendum, plus 3 (three) additional calendar months.
	 
	 	 	 	 
	 

	 	d.
	 	All expenses, without exception, applying, if any, for and/or in connection
with the issuing and/or extending of the validity of the Bank Guarantee Which Is the
Subject Matter of the Fourth Addendum shall apply to and be paid by the Lessee in
full.
	 
	 	 	 	 
	 

	 	e.
	 	It is hereby agreed and emphasized between the parties that the Bank
Guarantee Which Is the Subject Matter of the Fourth Addendum shall be a financial,
independent bank guarantee which may be immediately realized in any event, for the
securing of the fulfillment of the obligations of the Lessee pursuant to the
provisions of the Main Contract, the First

 

 

	 	 	 	 	 
	 

	 	 	 	Addendum, the Third Addendum and this Addendum of the Main Contract. Therefore, in
any event of the breach of the Main Contract and/or the First Addendum and/or the
Third Addendum and/or this Addendum by the Lessee, the Lessor shall be entitled to
demand the payment of the Bank Guarantee Which Is the Subject Matter of the Fourth
Addendum, fully or partially, in accordance with the terms and conditions of this
Addendum provided that the Lessor give the Lessee written warning of its intention
to realize this guarantee at least 10 (ten) days in advance.
	 
	 	 	 	 
	 

	 	f.
	 	The breach of Section 8 and/or the breach of any subsections thereof, shall
be considered as a fundamental breach both of the Main Contract, the First Addendum,
the Third Addendum and of this Addendum.

Negating of the Protection of Tenancy Laws

	 	 	 	 	 
	9.

	 	a.
	 	The Lessor hereby undertakes to lease
the Additional Area Pursuant to the
Fourth Addendum to the Lessee and the
Lessee for its part undertakes hereby
to rent from the Lessor the Additional
Area Pursuant to the Fourth Addendum
and all of this pursuant to a lease for
which the Protection Law and/or the
protection of tenancy laws of all sorts
shall not apply throughout the duration
of the Lease Period of the Additional
Area Pursuant to the Fourth Addendum
and throughout the duration of the
Extended Lease Period of the Additional
Area Pursuant to the Fourth Addendum,
should the Option for the Additional
Area Pursuant to the Fourth Addendum be
exercised pursuant to the terms and
conditions of this Addendum.
	 
	 	 	 	 
	 

	 	b.
	 	The Lessee hereby declares that it has not paid the Lessor any key money for
the Additional Area Pursuant to the Fourth Addendum and/or any part thereof, that it
has not undertaken to pay any key money for the renting of the Additional Area
Pursuant to the Fourth Addendum and/or any part thereof, that it has not given any
consideration for the Additional Area Pursuant to the Fourth Addendum and/or any part
thereof, cannot be considered as key money under the Law and that the protection of
tenancy

 

 

	 	 	 	 	 
	 

	 	 	 	laws of various sorts including the Law shall not grant it any protection
whatsoever as a protected tenant with respect of the Rent of the Additional Area
Pursuant to the Fourth Addendum and/or part thereof.
	 
	 	 	 	 
	 

	 	c.
	 	It is hereby agreed that the breach of Section 9 above and/or the breach of
any subsection thereof shall be considered as a fundamental breach of the Main
Contract and of this Addendum.

Guarantees and Taxes

	 	 	 	 	 
	10.

	 	a.
	 	For the avoidance of doubts it is hereby agreed and
emphasized that before any use is made by the Lessee
and/or anyone on its behalf of the Additional Area
Pursuant to the Fourth Addendum the Lessee shall
provide the Lessor with all the confirmations
regarding the insurance policies for all of the
insurance policies which the Lessee has undertaken to
procure pursuant to that detailed in the Main
Contract.
	 
	 	 	 	 
	 

	 	b.
	 	The parties hereby agree that the terms, conditions and provisions of the
Main Contract shall be binding on the parties in all matters relating to the renting
of the Additional Area Pursuant to the Fourth Addendum and considering the changes
detailed in the First Addendum, the Third Addendum and in this Addendum.
	 
	 	 	 	 
	 

	 	c.
	 	It is hereby agreed and clarified that further to the Rent stipulated in
Section 6 above, the Lessee undertakes to pay in full, regularly and by the due dates,
starting from 1.1.2008 or at the actual date of delivery of possession of the
Additional Area Pursuant to the Fourth Addendum, to the Lessee, according to the
earlier of the above said dates, to pay all the said taxes, levies, payments
and expenses applicable with respect of the Additional Area Pursuant to the Fourth
Addendum including all the taxes, fees, municipal rates and taxes, obligatory
payments, and all other payments involved with the use and/or possession of the
Additional Area Pursuant to the Fourth Addendum and pursuant to the terms and
conditions of this Addendum as is required by that stipulated in Section 22 of the
Main Contract the conditions of which shall apply, mutatis mutandis, as the case may
be, also to the rent of the Additional Area

 

 

	 	 	 	 	 
	 

	 	 	 	Pursuant to the Fourth Addendum, pursuant to the terms and conditions of this
Addendum of the Main Contract.
	 
	 	 	 	 
	 

	 	 	 	Similarly the Lessee will pay all the taxes, levies, fees and expenses for
electricity, water, municipal rates and taxes and other such additional regular
payments involved with the management of its business in the Additional Area
Pursuant to the Fourth Addendum and/or the holding thereof and/or the maintenance
thereof and/or the use thereof of the Additional Area Pursuant to the Fourth
Addendum.
	 
	 	 	 	 
	 

	 	 	 	Notwithstanding the above said it is hereby and declared that the payment for
electricity for the chillers of the air condition system at Hermon House is
included in the Management Fees stipulated in Section 6 above.
	 
	 	 	 	 
	 

	 	d.
	 	The Lessee hereby undertakes to use the Additional Area Pursuant to the
Fourth Addendum only for the purposes of the lease as defined in the Main Contract.
	 
	 	 	 	 
	 

	 	e.
	 	It is hereby agreed between the parties that the breach of Section 10 above
and/or the breach of any subsection therein shall be considered as a fundamental
breach of the Main Contract and of this Addendum.

General

	 	 	 	 	 
	11.

	 	a.
	 	It is agreed and emphasized that the terms and conditions
of the Main Contract, the First Addendum and the Third
Addendum shall apply to the lease which is the subject
matter of this Addendum, mutatis mutandis, all as the case
may be, and pursuant to the terms and conditions of this
Addendum.
	 
	 	 	 	 
	 

	 	b.
	 	The parties hereby agree that in any event of the fundamental breach of the
Main Contract and/or the First Addendum and/or the Third Addendum and/or this Addendum
by the Lessee, the provisions of the Main Contract, the First Addendum and the Third
Addendum shall apply, including in the matter of the vacating of the New Leased
Premises and/or the Additional Area Pursuant to the Fourth Addendum and/or the Current
Leased Premises shall apply mutatis mutandis.

 

 

	 	 	 	 	 
	 

	 	c.
	 	The parties agree that all the terms and definitions mentioned in this
Addendum shall have the same meaning given to them in the Main Contract and/or the
First Addendum and/or the Third Addendum and/or in the Management Agreement, but all
of this provided that no other definition and/or contrary definition has been provided
in this Addendum.
	 
	 	 	 	 
	 

	 	d.
	 	The parties hereby agree that the fundamental breach of this Addendum of the
Main Contract shall be considered, for all intents and purposes, as a fundamental
breach both of the Main Contract, the First Addendum and of the Third Addendum.
	 
	 	 	 	 
	 

	 	e.
	 	Any change to the terms, conditions and provisions of this Addendum shall be
done in writing only and signed by both parties to this Addendum.
Any notice pursuant to this Addendum shall be done in writing only.

In Witness Whereof the Parties Have Set Their Hand:-

The Lessor: (Signed and stamped)

Shaar Yokneam

Limited Registered Partnership

The Lessee: (Signed and stamped)

	 	 	 	 	 
	 

	 	 	 	Mellanox Technologies, Ltd.

 

 

Hermon House

Technical Specifications — For the Interior Finishing — Offices

	1.	 	A General Description of the Project

	 	1.1	 	The building is located in the Shaar Yokneam complex in Upper Yokneam.
	 
	 	1.2	 	The building is zoned for occupation by companies dealing in the hi-tech
software and hardware field.
	 
	 	1.3	 	The building has a parking level on an open-sided parking storey for
approximately 75 cars and parking areas in the yard.
	 
	 	1.4	 	The building has a ground floor level and 6 office floors at a height of
about 3.8m.

	2.	 	General Technical Description

	 	2.1	 	The frame (shell) of the building is made of reinforced concrete and the
ceilings of prefabricated elements.
	 
	 	2.2	 	The facades — pillars covered with marble and a glass curtain wall, windows
integrating glass and aluminum.
	 
	 	2.3	 	The building has 3 sophisticated passenger elevators with luxurious finishing
and 2 cargo elevators for loads of up to 2 tons with a key of 2.10m height.
	 
	 	2.4	 	The building has a central air conditioning system based on a water
heating/cooling system.
	 
	 	2.5	 	The building includes an automatic fire extinguishing system in accordance
with the demands of the fire and rescue services.
	 
	 	2.6	 	The building includes an emergency public announcement system in the public
areas.
	 
	 	2.7	 	The building includes a central kernel, emergency stairways, protected
defensive area rooms, toilets, service shafts, control and information points.
	 
	 	2.8	 	The surroundings of the building have been developed at a high level
including paved paths, decorative gardening and lighting.

 

 

	 	2.9	 	Emergency lighting shall be executed in the public areas.
	 
	 	2.10	 	A telephone system has been installed in the building of Bezeq — Kol for the
convenience of the tenants.

	3.	 	The Public Areas in the Building

	 	3.1	 	Parking areas

	 	•	 	The paving of the parking area is of smoothed concrete.
	 
	 	•	 	The walls and ceilings have been whitewashed with synthetic whitewash.
	 
	 	•	 	The height of the parking is 2.30m.

	 	3.2	 	A typical floor — entrance lobbies

	 	3.2.1	 	The floor areas and the wall areas are covered with marble
or ceramics.
	 
	 	3.2.2	 	An artificial decorative ceiling integrated with decorative
lighting (at the choice of the architect).
	 
	 	3.2.3	 	There is a central air conditioning system in the entrance
lobby including heating and cooling.

	 	3.3	 	Internal divisions

	 	3.3.1	 	The plans for the public and emergency corridor and kernel
areas cannot be changed.
	 
	 	3.3.2	 	The internal division for the floors has been adapted to the
needs of the Lessee.

	4.	 	The Technical Specifications for a Typical Floor

	 	4.1	 	Walls

	 	4.1.1	 	The walls between the tenants are blocks of 20cm or plaster
of paris walls of 12cm.
	 
	 	4.1.2	 	The internal divisions — plaster of paris walls of 10cm with
rock wool.
	 
	 	4.1.3	 	The finishing of the internal walls — Supercryl paint.

	 	4.2	 	Flooring and cladding

	 	4.2.1	 	In the rooms there is a level 2 fire-resistant carpet at a
basic price of 60 NIS per m2.

 

 

	 	4.2.2	 	The manufacturing room and the laboratory have antistatic
PVC of type 10 in sevenths, at a price of NIS 80 per m2.
	 
	 	4.2.3	 	In the corridors leading to the main rooms there is ceramic
type flooring at a price of NIS 50/manufactured by Negev Ceramics.

	 	4.3	 	Acoustic ceiling

	 	4.3.1	 	A lowered acoustic ceiling of mineral sheets 60/60 or
120/60cm with Z plus L finishing of the Orion model 210, including the
integrating of lighting features within the ceiling without ducts.

	 	4.4	 	Plumbing, electricity and communications

	 	4.4.1	 	The electricity system for the room includes (2 electricity
points, 1 UPS point, 2 telephone points with 6 tendon cables, 1 computer point
including piping only for every room with 2 systems).
	 
	 	4.4.2	 	In the corridors there is an electricity point for every 5m
in length.
	 
	 	4.4.3	 	The Leased Premises is connected to the electricity system.
	 
	 	4.4.4	 	The connection to Bezeq and the ordering of telephone lines
is to be done by the Lessee.
	 
	 	4.4.5	 	Lighting:
	 
	 	 	 	Sunken lighting at measurements of 60cm X 60cm of the Telor type or
equivalent 18W X 4, including emergency lighting according to the planning
of the electricity consultant.

	 	4.5	 	Sanitary system and toilets

	 	4.5.1	 	Toilets on the floor levels for men and women in the public
kernel areas including accessories at a high standard.

	5.	 	Carpentry in the Building — Doors

	 	5.1	 	Every room has a wooden door filled at 60% covered with Formica with
measurements of 25 X 80cm.
	 
	 	5.2	 	The doorknobs are of the “Alom” sort or equivalent.

	6.	 	Aluminum

	 	6.1	 	A double-winged entrance door made of Kalil 2000 aluminum or equivalent
according to the planning of the architect.

	7.	 	Sprinkler system

 

 

	 	7.1	 	A sprinkler system has been installed of an ordinary sort in the area of the
Leased Premises according to the planning, integrated into the acoustic ceiling.

	8.	 	Air conditioning system

	 	8.1	 	The area of the Leased Premises is air conditioned by the central air
conditioning system of the building.

	9.	 	The approval of the internal system plans

	 	9.1	 	Finishing work without permanent fixtures.
	 
	 	9.2	 	The Lessee will submit the plans for the internal systems signed and approved for execution.exv10w14

 

EXHIBIT 10.14

Fifth Addendum to Contract of Lease of 9.5.2001

To the First Addendum of 23.8.2001

To the Second Addendum of 23.8.2006

And to the Third Addendum of 26.10.2006

Made and Entered into in Yokneam

on the 4th of September 2007

Between

Shaar Yokneam, A Registered Limited Partnership

(Partnership No. 550014666)

Through its authorized signatories

Mr. Koby Ben Yakov (I.D. No. 10509131)

And Yitzchak (Tzachi) Levy (I.D. No. 22448534)

Authorized to sign on the partnership’s behalf and to bind the partnership.

Whose address for the purpose of this contract shall be

At the “Shaar Hacarmel” site

5 Nachum Chet Street, Tirat Carmel

Who shall hereinafter be referred to for the sake of brevity as “the Lessor”,

The First Party

And Between

Mellanox Technologies, Ltd. (a private registered company No. 512763285)

Through its authorized signatory Mr. Ayal Waldman (I.D. No. 56429095)

Authorized to sign on the company’s behalf and to bind the company

Whose address for the purpose of this contract shall be

At the Hermon Building, Shaar Yokneam, Yokneam

And who shall hereinafter be referred to for the sake of brevity as “the Lessee”,

The Second Party

	 	 	 
	Whereas

	 	The Lessor is the registered owner or leaseholder, as the case
may be, and the sole holder of possession of land in an area
of approximately

 

 

	 	 	 
	 

	 	62,000 m2 (hereinafter — “the
Land”) including whole parcels and parts of parcels in block
11098, excepting part of parcels 21 and 82 which are not
registered in the name of the Lessor and for whom Sultam,
Ltd., who sold the rights in the above said Land to the Lessor
undertook to acquire and to transfer the rights of ownership
or leasehold to the Lessor;
	 
	 	 
	And Whereas

	 	The Land as described above is in an area zoned for industry
according to the Local Planning Board plan C/297;
	 
	 	 
	And Whereas

	 	Amongst the other buildings built on the Land the building
known as Hermon House has been built on part of parcels 48,
49, 50, 79 and 80 in block 11098 in a building known as Hermon
House (hereinafter — “Hermon House”);
	 
	 	 
	And Whereas

	 	On 9.5.2001 a contract of lease was signed between the Lessor
and the Lessee (hereinafter — “the Main Contract”) with
respect of “the Leased Premises”, as defined in the Main
Contract (hereinafter — “the Leased Premises”);
	 
	 	 
	And Whereas

	 	On 9.5.2001 a management contract was signed between the
Lessor and the Lessee regulating the management of the
building in which the Leased Premises are found (hereinafter -
“the Management Agreement”);
	 
	 	 
	And Whereas

	 	On 23.8.2001 an addendum to the Main Agreement was signed
between the Lessor and the Lessee (hereinafter — “the First
Addendum”) according to which an “Additional Area” was added
to the Leased Premises, as defined in the “First Addendum”,
and also 5 (five) parking places were added to the Leased
Premises (hereinafter — “the Additional Area”);
	 
	 	 
	 

	 	“The Leased Premises” plus “the Additional Area” including all
105 (one hundred and five) parking places, rented out to the
Lessee under the Main Contract and pursuant to the First
Addendum, shall

 

 

	 	 	 
	 

	 	hereinafter, for the sake of brevity, be
referred to as the “New Leased Premises”;
	 
	 	 
	And Whereas

	 	On 23.8.2001 an agreement was signed between the Lessor and
the Lessee regarding the execution of interior works in the
Leased Premises (hereinafter — “the Second Addendum”);
	 
	 	 
	And Whereas

	 	On 26.10.2006 a third addendum to the “Main Contract” was
signed between the Lessor and the Lessee according to which
the Lease Period which is the subject matter of the Main
Contract was extended (hereinafter — “the Third Addendum”);
	 
	 	 
	And Whereas

	 	On 15.5.2007 a seventh addendum to the “Main Contract” was
signed between the Lessor and the Lessee according to which
“the additional area the subject of the seventh addendum was
added” as defined in the fourth addendum, (hereinafter — “the
Fourth Addendum”).
	 
	 	 
	And Whereas

	 	The parties wish to alter the terms, conditions and provisions
of the Main Contract of the First Addendum and of the Third
Addendum, of the Fourth Addendum pursuant to that stipulated
below in this addendum of the “Main Contract” (hereinafter:
	 

	 	“The Fifth Addendum”) and all of this in accordance with the
terms and conditions and provisions of this Addendum of the
Main Contract;
	 
	 	 
	And Whereas

	 	The Lessee is interested in leasing from the Lessor and the
Lessor is interested in renting out to the Lessee, in addition
to the New Leased Premises, an additional area of
approximately 63.5 m2 located on the first floor
(of the West Wing) of Hermon House, which is marked in yellow
in the plans attached hereto as Appendix A of this Addendum,
constituting a material and integral part hereof and 2 (two)
parking places located in the open parking area at the back of
“Hermon House” which is marked in Green in the plans attached
hereto as Appendix B’ of this Addendum constituting a material
and integral part hereof (the above area plus the above 2
(two) parking

 

 

	 	 	 
	 

	 	places, shall hereinafter, for the sake of
brevity, be referred to as  — “the Additional Area Pursuant to
the Fifth Addendum”) and all of this, under the terms and
conditions as detailed in this Addendum of the Main Contract;
	 
	 	 
	 

	 	“The New Leased Premises” as defined in the “Fourth Addendum”
plus “the Additional Area Pursuant to the Fifth Addendum”
shall hereinafter, for the sake of brevity, be referred to as
“the Current Leased Premises the subject of the Fifth
Addendum”;
	 
	 	 
	And Whereas

	 	Pursuant to the Main Contract, pursuant to the “First
Addendum”, pursuant to the “Third Addendum” and pursuant to
the “Fourth Addendum” and to this Addendum of the “Main
Contract”, the New Leased Premises, the Additional Area
Pursuant to the Fourth Addendum, “the Additional Area pursuant
to the Fifth Addendum” and the Current Leased Premises the
subject of the Fifth Addendum are rented out to the Lessee
under a lease which is unprotected pursuant to the Protection
of Tenancy Law (Consolidated Version), 5732 — 1972
(hereinafter — “the Law”).

Therefore it is Stipulated and Agreed Between the Parties as Follows:

Preamble and Appendices

	1.	 	The preamble to this Addendum of the Main Contract and all appendices thereto as well as the
facts specified therein, constitute an integral and a material part of this Addendum and shall
be considered as if included in the body of this Addendum.

Changes to the Terms and Conditions of the Management Contract, the Management Contract, the
First Addendum and the Third Addendum and the Fourth Addendum

	2.	 	The parties hereby agree that all the terms and conditions and provisions of the Main
Contract, of the Management Contract, of the First Addendum and of the Third Addendum and
of the Third Addendum, shall apply, according to the

 

 

	 	 	changes as detailed below in this Addendum of the Main Contract also to the lease of the
Current Leased Premises the subject of the Fifth Addendum pursuant to the terms and
conditions of this Addendum.

The Addition of “The Additional Area Pursuant to the Fifth Addendum”

	3.	 	The parties hereby agreed that an additional area as defined in the Fifth Addendum shall be
added to the New Leased Premises, as defined in the “Fourth Addendum”, i.e. an additional area
of approximately 63.5 m2 located on the first floor (in the West Wing) of Hermon
House, marked in yellow in the plans attached hereto as Appendix A of this
Addendum and which is an integral part hereof and 2 (two) parking places located in the
parking area at the back of “Hermon House” marked in green in the plans attached
hereto as Appendix B of this Addendum, and which is an integral part hereof and all of
this pursuant to the terms and conditions of this Addendum.

The Adaptation of the “Additional Area Pursuant to the Fifth Addendum” and the Minutes of
Delivery

	4. 	a.	 	It is hereby agreed that the “Additional Area Pursuant to the Fifth Addendum” will be
delivered to the possession of the Lessee “AS IS” on 1.8.2008, after receiving 6 (six) checks
signed by the Lessee made out to the order of the Lessor and which shall be delivered by the
Lessee to the Lessor for the securing of the payment of the rent for the lease of the
“Additional Area Pursuant to the Fifth Addendum” for the period starting on 1.8.2008 and
ending on 31.12.2008.

	 	b.	 	At the time of the delivery of possession of the “Additional Area Pursuant to
the Fifth Addendum”, minutes will be drawn up prior to delivery to be signed by both
parties to this Addendum and these minutes shall serve as prima facie proof that the
Lessee has received possession of the “Additional Area Pursuant to the Fourth
Addendum”, pursuant to the terms and conditions of this Addendum and to its complete
satisfaction (hereinafter — “the Minutes of Delivery of the Additional Area Pursuant
to the Fifth Addendum”).

 

 

	 	 	 	If the Minutes of Delivery of the Additional Area Pursuant to the Fourth Addendum
are not drawn up for any reason, then the actual receiving of possession of the
Additional Area Pursuant to the Fifth Addendum shall be considered as confirmation
on the part of the Lessee and as prima facie proof that indeed the Additional Area
Pursuant to the Fifth Addendum has been delivered to the Lessee by the Lessor
pursuant to the terms and conditions of this Addendum and to its full and complete
satisfaction.

	 	c.	 	The Lessee hereby declares that he has viewed the Additional Area Pursuant to
the Fifth Addendum, Hermon House, the Land and its surroundings and that he has found
the Additional Area Pursuant to the Fifth Addendum to be suitable and appropriate for
all its purposes and needs regarding the use thereof in accordance with its needs and
in accordance with the terms and conditions of this Addendum and that it hereby
finally, completely and fully and absolutely waives any claim for defect and/or
discrepancy in connection with the Additional Area Pursuant to the Fourth Addendum
and/or in connection with its surroundings and/or in connection with Hermon House
and/or in connection with the possibilities of utilizing it for its needs.
	 
	 	d.	 	The parties hereby agree that the Lessee shall be entitled to carry out in
the Additional Area Pursuant to the Fifth Addendum at the sole and full expense of the
Lessee, various work for the purpose of adapting the Additional Area Pursuant to the
Fifth Addendum, for the needs of the Lessee, but subject to the plans and work that
the Lessee intends to carry out in the additional area in accordance with the Fifth
Addendum will require the prior written approval of the Lessor.
	 
	 	 	 	It is hereby clarified and agreed that all the provisions of the “Main Contract”,
including the provisions of Sections 9, 19 and 31 of the “Main Contract” will apply
to the adaptation work of the Additional Area Pursuant to the Fifth Addendum to be
carried out by the Lessee, should it be so carried out, and all this with the
necessary changes,

 

 

	 	e.	 	It is hereby agreed that the breach of Section 4 above and/or the breach of
any subsection thereof shall be considered as a fundamental breach both of this
Addendum and of the Main Contract.

The Lease Period for the Additional Area Pursuant to the Fifth Addendum

	5.	 	The parties hereby agree and undertake as follows:

	 	a.	 	The Lessor hereby leases to the Lessee the Additional Area Pursuant to the
Fifth Addendum and the Lessee hereby rents from the Lessor the Additional Area
Pursuant to the Fifth Addendum, and all of this under rent which is not protected
under the Protection of Tenancy Laws of all sorts including also under the Protection
of Tenancy Law, 5732 — 1972 and all of this for a fixed and limited period of 53
(fifty three) months only, which shall start on 1.8.2007 and which shall end on
31.12.2011 (hereinafter — “the Lease Period of the Additional Area Pursuant to the
Fifth Addendum”).
	 
	 	b.	 	The Lessee is hereby given a conditional option (hereinafter — “the Option
for the Additional Area Pursuant to the Fifth Addendum”) to extend the “Lease Period
of the Additional Area Pursuant to the Fifth Addendum” together with the realization
of the “Option Pursuant to the Third Addendum”, as defined in the “Third Addendum”,
together with the realization of the “Option Pursuant to the Fourth Addendum”, as
defined in the “Fourth Addendum”, for a total period of time of 60 (sixty) months
which shall start from 1.1.2012 and up until 31.12.2016 (hereinafter — “the Extended
Lease Period of the Additional Area Pursuant to the Fifth Addendum”), but this shall
be provided that the Lessee delivers to the Lessor, by no later than 30.6.2011 [that
is to say at least 6 (six) months before the termination date of the “Lease Period of
the Additional Area Pursuant to the Fifth Addendum"], with prior written notice
according to which it is fully realizing its right pursuant to the “Option for the
Additional Area Pursuant to the Fifth Addendum” and that it is extending the “Lease
Period of the Additional Area Pursuant to the Fifth Addendum”

 

 

	 	 	 	up until the end of the “Extended Lease Period of the Additional Area Pursuant to
the Fifth Addendum”).
	 
	 	c.	 	To avoid any doubt, it is hereby emphasized and agreed that further to the
terms and conditions mentioned in Section 5(b) above, it is hereby agreed between the
parties that the Lessee shall not be entitled to continue with the lease pursuant to
the “Option for the Additional Area Pursuant to the Fifth Addendum”, and shall not be
entitled to any extension of the lease which is the subject matter of this Addendum,
if it does not fully and timely fulfill all the terms and conditions of this Addendum,
including if it does not make the full payments, pay the full rent and management fees
which it has undertaken to pay pursuant to the terms and conditions and provisions of
this Addendum.
	 
	 	 	 	However, a delay in the providing of the notice for the realization of the “Option
for the Additional Area Pursuant to the Fifth Addendum” and/or a delay in the
payment of any payment whatsoever of the Rent which shall not exceed 15 (fifteen)
days from the date set out as the payment date of that relevant payment pursuant to
the terms and conditions of this Addendum shall not negate the right from the
Lessee to continue the lease pursuant to the “Option for the Additional Area
Pursuant to the Fifth Addendum” and pursuant to all other terms and conditions of
this Addendum.
	 
	 	 	 	For the avoidance of any doubt it is hereby emphasized and agreed that the
realization of the “Option Pursuant to the Third Addendum” which is the subject
matter of the “Third Addendum” shall be conditional on the Lessee also realizing
the “Option for the Additional Area Pursuant to the Fourth Addendum” and also
realizing the “Option for the Additional Area Pursuant to the Fifth Addendum”
pursuant to the terms and conditions of this Addendum and also it is hereby agreed
that the realization of the “Option for the Additional Area Pursuant to the Fifth
Addendum” pursuant to the terms and conditions of this Addendum shall be
conditional on the Lessee also realizing the “Option Pursuant to the Third

 

 

	 	 	 	Addendum” pursuant to the terms and conditions detailed in the “Third Addendum” and
also also realizing the “Option for the Additional Area Pursuant to the Fourth
Addendum” pursuant to the terms and conditions detailed in the “Fourth Addendum”

	 	d.	 	It is hereby agreed and emphasized that for the lease in the “Lease Period of
the Additional Area Pursuant to the Fifth Addendum” the terms, conditions and
provisions of the Main Contract, of the Management Contract, of the First Addendum and
of the Third Addendum and of the Fourth Addendum shall apply and all of this subject
to the changes to apply pursuant to the terms and conditions of this Addendum.
	 
	 	 	 	It is hereby agreed and emphasized that for the rent “in the Extended Lease Period
of the Additional Area Pursuant to the Fifth Addendum” all the terms, conditions
and provisions of this Addendum shall apply regarding the rent in the “Lease Period
of the Additional Area Pursuant to the Fourth Addendum”, but this shall be subject
to the requisite changes, including the rate of the rent as detailed below in this
Addendum.
	 
	 	e.	 	The Lessee shall not be entitled to shorten the “Lease Period of the
Additional Area Pursuant to the Fifth Addendum” and/or the “Extended of the Lease
Period of the Additional Area Pursuant to the Fifth Addendum” if indeed it duly
realizes with respect of such the “Option for the Additional Area Pursuant to the
Fifth Addendum” pursuant to the terms and conditions of this Addendum and all of this,
without receiving the prior written consent from the Lessor.
	 
	 	 	 	Furthermore it is hereby agreed that if the Lessee leaves the Leased Premises for
any reason whatsoever before the end of the “Lease Period of the Additional Area
Pursuant to the Fifth Addendum” or before the end of the “Extended Lease Period of
the Additional Area Pursuant to the Fifth Addendum”, as the case may be, without
receiving the prior written consent of the Lessor, the Lessee shall be obligated to
continue to pay the Lessor the full rent and management fees as detailed below in
this Addendum for all the balance of the “Lease Period of the Additional Area

 

 

	 	 	 	Pursuant to the Fifth Addendum” and if it realizes the “Option for the Additional
Area Pursuant to the Fifth Addendum”, also for any balance of the “Extended Lease
Period of the Additional Area Pursuant to the Fifth Addendum”, as the case may be.

	 	f.	 	The breach of Section 5 above and/or the breach of any subsection thereof
shall be considered a fundamental breach both of the Main Contract, of the First
Addendum, of the Third Addendum, of the Fourth Addendum and also of this Addendum.

Rent and Management Fees — their amount, Payment Conditions and Payment Dates

	6.	 	The Lessee hereby undertakes to pay the Lessor Rent and Management Fees for the lease of the
“Additional Area Pursuant to the Fifth Addendum” as detailed below:

	      a. 	1. 	 	The Lessee hereby undertakes to pay the Lessor monthly Rent and Management
Fees for the lease of the “Additional Area Pursuant to the Fifth Addendum” during the
period starting from 1.8.2007 and ending on 31.12.2011 which shall amount to a monthly
amount (principal) in New Israel Sheqels equivalent to the monthly amount (principal)
of $1,148 plus linkage differences as set forth in Section 76 below plus VAT as
required by law.

	 	b.	 	Should the Lessee exercise the Option for the Additional Area Pursuant to the
Fifth Addendum in accordance with all the terms, conditions and provisions of this
Addendum and rents the Additional Area Pursuant to the Fifth Addendum then the Lessee
hereby undertakes to pay the Lessor monthly Rent and Management Fees for the lease of
the Additional Area Pursuant to the Fifth Addendum, throughout the “Extended Lease
Period of the Additional Area Pursuant to the Fifth Addendum” which shall amount to a
monthly sum (principal) in New Israel Sheqels equivalent to the monthly sum
(principal) of $1,263 (One Thousand Two Hundred and Sixty Three United States Dollars)
[that is to say an addition of 10% (ten percent) to the Rent stipulated in Section
6(a) above plus linkage

 

 

	 	 	 	differences as set forth in Section 7 below plus Value Added Tax as required by
law.

	 	c.	 	The full monthly Rent and Management Fees which the Lessee must pay to the
Lessor for the lease of the Additional Area Pursuant to the Fifth Addendum throughout
the Lease Period of the Additional Area Pursuant to the Fifth Addendum and throughout
the Extended Lease Period of the Additional Area Pursuant to the Fifth Addendum, if
the Option for the Additional Area Pursuant to the Fifth Addendum is exercised
pursuant to the terms and conditions of this Addendum, will be paid by the Lessee to
the Lessor in 3 monthly consecutive and continuous payments, each time making payment
in advance for the full rent for 3 (three) additional months’ rent, excluding the
first payment which will be paid by the Lessee to the Lessor for renting “the
Additional Area Pursuant to the Fifth Addendum” as from 1.8.2007 and until 30.9.2007.
	 
	 	 	 	The payment date of the fir installment that the Lessee is obligated to pay the
Lessor for leasing “the Additional Area Pursuant to the Fifth Addendum” as from
1.8.2007 until 30.9.2007 will be on the date of signing this Addendum, while the
due dates of all the other 3 monthly payments which the Lessee must make to the
Lessor for the leasing of the Additional Area Pursuant to the Fifth Addendum in
accordance with the terms of this Addendum will be on the 1st (first) of the
following calendar months: January, April, July and October which shall start from
1.10.2007 and up until the end of the Lease Period of the Additional Area Pursuant
to the Fifth Addendum pursuant to the terms and conditions of this Addendum.
	 
	 	d.	 	In order to ease the collection of the full Rent and Management Fees which
the Lessee must pay to the Lessor for the leasing of the Additional Area Pursuant to
the Fifth Addendum for the first 17 (seventeen) months of leasing throughout the Rent
Term of the Additional Area Pursuant to the Fifth Addendum, the Lessee will deliver to
the Lessor, on the date of the signing of this Addendum, 6 (six) cheques signed by
him, drawn up to

 

 

	 	 	 	the order of the Lessor and in the full amount of the Rent and Management Fees
(principal) referring to the months of rent which shall apply starting from
1.8.2007 and ending on 31.12.2008.
	 
	 	 	 	This arrangement shall apply, mutatis mutandis, as the case may be, also with
respect of the balance of the Lease Period of the Additional Area Pursuant to the
Fifth Addendum and if the Option for the Additional Area Pursuant to the Fifth
Addendum is exercised pursuant to all the terms, conditions and provisions of this
Addendum, then also throughout the Extended Lease Period of the Additional Area
Pursuant to the Fifth Addendum, in such a manner so that by no later than 14
(fourteen) days before the commencement of every relevant Lease Period of 12
(twelve) calendar months’ rent, the Lessee will deliver to the Lessor 4 (four)
additional cheques for the prior payment of the full Rent and Management Fees
pursuant to the terms and conditions of this Addendum for the following 12
(twelve) months’ Rent, and all as the case may be.
	 
	 	 	 	The payment dates of these cheques shall be in accordance with the payment date
stipulated in Section 6(c) above.
	 
	 	 	 	The full linkage differences to the US CPI Index, which shall apply for the linkage
of the full Rent and Management Fees payments to the costs shall apply in the USCPI
Index pursuant to that stipulated in Section 7 below which shall be paid by the
Lessee to the Lessor in full and in effect at the payment dates of all the payments
in Section 6(c) above.
	 
	 	 	 	To avoid doubt, it is hereby agreed and emphasized that the delivery of the above
said cheques to the Lessor shall not be considered, under any circumstances, as
payment on account of the Rent and the Management Fees which the Lessee must and/or
which the Lessee will have to pay to the Lessor pursuant to the terms and
conditions of this Addendum, and only the full and actual payment to the Lessor of
these cheques shall be considered as payment on account of the Rent and the
Management Fees owing to the Lessor from the Lessee pursuant to the terms and
conditions of this Addendum.

 

 

	 	 	 	Notwithstanding the above said it is hereby agreed by the parties that the Lessee
shall be entitled, at its discretion, to pay the Rent and the Management Fees which
it has undertaken to pay pursuant to the terms and conditions of this Addendum by
dollar bank transfer to the Lessor’s account, No. 15030050 which is conducted at
Bank Leumi Le’Israel B.M. (Yokneam Branch — Branch No. 876). The above said bank
transfer dates shall be at the payment dates of the Rent and the Management Fees as
detailed in Section 6(c) above.
	 
	 	 	 	Should the Lessee pay the Rent and the Management Fees by dollar bank transfer to
the above said account of the Lessor, the relevant cheques shall be returned to the
Lessee by the Lessor, which were delivered to the Lessor by the Lessee at the time
of the signing of this Addendum for the securing of the payment thereof, within 7
(seven) days from the date of receiving written demand by the Lessee for the return
of the relevant cheques.

	 	e.	 	The breach of Section 6 above and/or the breach of any subsection thereof
shall be considered as a fundamental breach of the Main Contract, of the First
Addendum, of the Third Addendum, of the Fourth Addendum and of this Addendum.

Linkage of the Payments to the Representative Rate in New Israel Sheqels of the United States
Dollar and the Increase in the US CPI Index

	7. 	a. 	 	All payments of Rent and Management Fees which the Lessee must pay to the Lessor pursuant
to the terms and conditions of this Addendum and stipulated in this Addendum in United States
Dollars must be paid by the Lessee to the Lessor in New Israel Sheqels in accordance with the
representative rate in New Israel Sheqels of the United States Dollar known at the actual
payment date of each payment for the Rent and Management Fees as stated above, or for any part
of these payments, to be paid by the Lessee to the Lessor pursuant to the terms and conditions
of this Addendum.

 

 

	 	b.	 	The parties hereby agree that all payments of Rent and Management Fees which
the Lessee must pay to the Lessor pursuant to the terms and conditions of this
Addendum shall be paid by the Lessee to the Lessor fully linked to all increases
applying to the U.S. CPI Index and all pursuant to that detailed in the Main Contract,
but subject to the U.S. CPI basic index for the purpose of calculating the Rent which
the Lessee must pay to the Lessor for the leasing of the Additional Area Pursuant to
the Fourth Addendum to be published on 15.12.2006 for the month of November 2006
(hereinafter — “the Basic Index”).
	 
	 	 	 	Furthermore it is agreed and clarified that if any New Index is less than any New
Index — then the calculations of the linkage shall be drawn up in accordance with
the New Index most recently published prior to the actual date of the making of any
relevant payment.
	 
	 	c.	 	It is hereby clarified that the provisions of Section 13 of the Main Contract
shall apply to the payment of Rent and Management Fees pursuant to the terms and
conditions of this Addendum, mutatis mutandis, as the case may be.
	 
	 	d.	 	The breach of Section 7 above and/or the breach of any subsection thereof
shall be considered a fundamental breach of the Main Contract, of the First Addendum,
of the Third Addendum, of the Fourth Addendum and of this Addendum.

Collateral

	8. 	a.	 	It is hereby agreed that all the collateral delivered
and/or to be delivered by the Lessee to the Lessor
pursuant to the provisions of the Main Contract, the
First Addendum and the Third Addendum, and of the Fourth
Addendum including all bank guarantees which are the
subject of the Main Contract and the above said Addenda
of the Main Contract shall serve for the securing of the
fulfillment of the Lessee’s undertakings pursuant to that
detailed in the Main Contract, the First Addendum and the
Third Addendum, and the Fourth Addendum and this Addendum
of the Main Contract.

 

 

	 	 	 	The breach of Section 8 and/or the breach of any subsections thereof, shall be
considered as a fundamental breach both of the Main Contract, the First Addendum,
the Third Addendum and of this Addendum.

Negating of the Protection of Tenancy Laws

	9. 	a.	 	 The Lessor hereby undertakes to lease
the Additional Area Pursuant to the
Fifth Addendum to the Lessee and the
Lessee for its part undertakes hereby
to rent from the Lessor the Additional
Area Pursuant to the Fifth Addendum and
all of this pursuant to a lease for
which the Protection Law and/or the
protection of tenancy laws of all sorts
shall not apply throughout the duration
of the Lease Period of the Additional
Area Pursuant to the Fifth Addendum and
throughout the duration of the Extended
Lease Period of the Additional Area
Pursuant to the Fifth Addendum, should
the Option for the Additional Area
Pursuant to the Fifth Addendum be
exercised pursuant to the terms and
conditions of this Addendum.
	 
	 	b.	 	The Lessee hereby declares that it has not paid the Lessor any key money for
the Additional Area Pursuant to the Fifth Addendum and/or any part thereof, that it
has not undertaken to pay any key money for the renting of the Additional Area
Pursuant to the Fifth Addendum and/or any part thereof, that it has not given any
consideration for the Additional Area Pursuant to the Fifth Addendum and/or any part
thereof, cannot be considered as key money under the Law and that the protection of
tenancy laws of various sorts including the Law shall not grant it any protection
whatsoever as a protected tenant with respect of the Rent of the Additional Area
Pursuant to the Fifth Addendum and/or part thereof.
	 
	 	c.	 	It is hereby agreed that the breach of Section 9 above and/or the breach of
any subsection thereof shall be considered as a fundamental breach of the Main
Contract and of the First Addendum, of the Third Addendum and of the Fourth Addendum
and of this Addendum.

 

 

Guarantees and Taxes

	10. 	a.	 	 For the avoidance of doubts it is hereby agreed and
emphasized that before any use is made by the Lessee
and/or anyone on its behalf of the Additional Area
Pursuant to the Fourth Addendum the Lessee shall
provide the Lessor with all the confirmations
regarding the insurance policies for all of the
insurance policies which the Lessee has undertaken to
procure pursuant to that detailed in the Main
Contract and also “the Additional Area Pursuant to
the Fifth Addendum.

	 	b.	 	The parties hereby agree that the terms, conditions and provisions of the
Main Contract shall be binding on the parties in all matters relating to the renting
of the Additional Area Pursuant to the Fifth Addendum and considering the changes
detailed in the First Addendum, the Third Addendum, the Fourth Addendum and in this
Addendum.
	 
	 	c.	 	It is hereby agreed and clarified that further to the Rent stipulated in
Section 6 above, the Lessee undertakes to pay in full, regularly and by the due dates,
starting from 1.8.2007 all the said taxes, levies, payments and expenses applicable
with respect of the Additional Area Pursuant to the Fifth Addendum including all the
taxes, fees, municipal rates and taxes, obligatory payments, and all other payments
involved with the use and/or possession of the Additional Area Pursuant to the Fifth
Addendum and pursuant to the terms and conditions of this Addendum as is required by
that stipulated in Section 22 of the Main Contract the conditions of which shall
apply, mutatis mutandis, as the case may be, also to the rent of the Additional Area
Pursuant to the Fifth Addendum, pursuant to the terms and conditions of this Addendum
of the Main Contract.
	 
	 	 	 	Similarly the Lessee will pay all the taxes, levies, fees and expenses for
electricity, water, municipal rates and taxes and other such additional regular
payments involved with the management of its business in the Additional Area
Pursuant to the Fifth Addendum and/or the holding thereof and/or the maintenance
thereof and/or the use thereof of the Additional Area Pursuant to the Fifth
Addendum.

 

 

	 	 	 	Notwithstanding the above said it is hereby and declared that the payment for
electricity for the chillers of the air condition system at Hermon House is
included in the Management Fees stipulated in Section 6 above.
	 
	 	d.	 	The Lessee hereby undertakes to use the Additional Area Pursuant to the Fifth
Addendum only for the purposes of the lease as defined in the Main Contract.
	 
	 	e.	 	It is hereby agreed between the parties that the breach of Section 10 above
and/or the breach of any subsection therein shall be considered as a fundamental
breach of the Main Contract, of the First Addendum, of the Third Addendum and of the
Fourth Addendum and of this Addendum.

General

	11. 	a.	 	It is agreed and emphasized that the terms and conditions
of the Main Contract, the First Addendum and the Third
Addendum and of the Fourth Addendum shall apply to the
lease which is the subject matter of this Addendum, mutatis
mutandis, all as the case may be, and pursuant to the terms
and conditions of this Addendum.

	 	b.	 	The parties hereby agree that in any event of the fundamental breach of the
Main Contract and/or the First Addendum and/or the Third Addendum and/or of the Fourth
Addendum and/or of this Addendum by the Lessee, the provisions of the Main Contract,
the First Addendum, the Third Addendum and the Fourth Addendum shall apply, including
in the matter of the vacating of the New Leased Premises and/or the Additional Area
Pursuant to the Fourth Addendum and/or the Additional Area Pursuant to the Fifth
Addendum shall apply mutatis mutandis.
	 
	 	c.	 	The parties agree that all the terms and definitions mentioned in this
Addendum shall have the same meaning given to them in the Main Contract and/or the
First Addendum and/or the Third Addendum and/or the Fourth Addendum in the Management
Agreement, but all of this provided that no other definition and/or contrary
definition has been provided in this Addendum.

 

 

	 	d.	 	The parties hereby agree that the fundamental breach of this Addendum of the
Main Contract shall be considered, for all intents and purposes, as a fundamental
breach both of the Main Contract, the First Addendum and of the Third Addendum and the
Fourth Addendum.
	 
	 	e.	 	Any change to the terms, conditions and provisions of this Addendum shall be
done in writing only and signed by both parties to this Addendum.
Any notice pursuant to this Addendum shall be done in writing only.

In Witness Whereof the Parties Have Set Their Hand:-

The Lessor: (Signed and stamped)

Shaar Yokneam

Limited Registered Partnership

The Lessee: (Signed and stamped)

	 	 	 	Mellanox Technologies, Ltd.

 

 

Three plans are attached to the Contract

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