Exhibit 4.9
English summary of Principal Terms of the Third Addendum to the Lease Agreement (dated March 22, 2015, as amended by that certain Second Addendum entered on February 27, 2017) entered into on August 8, 2018, by and between Mintz K. Construction Company Ltd. (the “Landlord”), as landlord, and Galmed Research and Development Ltd. (the “GRD”), as tenant (the “Addendum”).
The Addendum
· | Premises covered by the Addendum: Approximately 144 square meters for a space adjacent to the original premises covered under the Lease Agreement (the “Additional Premises”). The Additional Premises together with the original premises shall add up to a total of 590 square meters (the “Total Premises”). |
· | Term of Lease: Notwithstanding the Lease period under the Lease Agreement, the term of the Additional Premises shall be from August 1, 2018 until March 21, 2019 (the “New Lease Term”), provided however that GRD shall have two options to extend the New Lease Term in accordance with the terms of the Lease Agreement, from March 22, 2019 until March 21, 2021 (the “First Option Period”) and from March 22, 2021 until March 21, 2022 (the “Second Option Period”). |
· | Fees: In addition to the fees paid under the Lease Agreement, GRD shall pay additional monthly rental fees in the amount of NIS 9,600 plus VAT for the Additional Premises. In the event that the option is exercised by GRD, GRD shall pay monthly rental fees for the Total Premises in the amount of NIS 39,757 during the First Option period, and NIS 41,745 during the Second Option period. |
· | Security: GRD shall provide the Landlord with an autonomous bank guarantee of NIS 41,000. |