Lease Agreement Summary between Finisar Israel and Kiryat Atidim for Atidim Technology Park Office Space
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Summary
Finisar Israel (formerly Red-C Optical Networks Ltd.) has a lease agreement with Kiryat Atidim for office space in Atidim Technology Park, Tel Aviv. The lease began in 2005, was renewed in 2010, and runs until April 1, 2015. The leased area is 2,046 square meters, with a monthly rent of ILS 239,505, adjusted annually for inflation. No security deposit is required. Finisar Israel can terminate all or part of the lease with 12 months' notice and no penalty. The agreement includes standard lease terms.
EX-10.5 5 exhibit105.htm EXHIBIT 10.5 Exhibit 10.5
Exhibit 10.5
Summary of the principal terms of the lease agreements
between Finisar Israel (formerly Red-C Optical Networks Ltd.) and Kiryat Atidim
(Original document in Hebrew)
Beginning on April 1, 2005, Red-C Optical Networks Ltd. (now Finisar Israel) entered into a lease agreement with Landlord Kiryat Atidim regarding office space located at Atidim Technology Park, Building #3, POB 58101, Tel Aviv 61580 Israel. The initial term of 5 years was renewed in 2010 for an additional 5 years running until April 1, 2015. The current total leased space is 2,046 square meters.
The current monthly rental payment is ILS 239,505, which is adjusted annually to the change in the Israeli Consumer Price Index. There is no security deposit required under the terms of the lease. Finisar Israel is entitled to terminate the lease for part of the premises or terminate the lease entirely without penalty by giving the landlord 12 months prior notice. The lease agreement also contains customary terms and conditions.
