If your installation didn't complete correctly, due to delay in contacting Intel license server, you should be able to take the alternate install path of supplying the license file which was emailed to you. If you need a fresh copy, you can have it sent again at https://registrationcenter.intel.com. Once install is complete, there should be no need to contact Intel server again.
With help from Om, Mark and Kittur, this issue has been solved.
It turns out that I needed to set environment variableINTEL_LICENSE_FILE (orLM_LICENSE_FILE) so that it points to my license file. I needed to do so regardless of the fact that I already gave the license file's full path to the installer.
Just to clarify: Apparently iccvars.sh file should have been sourced first by Zhen which would have set the INTEL_LICENSE_FILE variable properly so the correct license file is found. Went through the scenario with Zhen who is clear now on the install procedure.