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Exhibit 10.14

FIRST AMENDMENT
TO
RIGHT OF FIRST REFUSAL AGREEMENT

    This First Amendment to Right of First Refusal Agreement (this "Agreement")
is made and entered into as of August 3, 2001, by and among Perceptronics, Inc.,
a Delaware corporation (the "Company"), Global Alpha Corporation, a British
Virgin Islands company ("Purchaser"), and those certain stockholders of the
Company whose names appear on the signature page hereto (each hereinafter
individually referred to as a "Stockholder") and collectively referred to as the
"Stockholders").

R E C I T A L S

    WHEREAS, the Company and Purchaser are parties to that certain Right of
First Refusal Agreement dated April 5, 2001, a true copy of which is attached
hereto as Exhibit "A" and incorporated herein by reference; and

    WHEREAS, the Company, the Stockholders and Purchaser are desirous of
amending the Right of First Refusal Agreement,

    NOW, THEREFORE, in consideration of the foregoing recitals and the mutual
benefits to be derived hereunder, the parties hereto agree as follows:

    1.  Subparagraph 5.2 of the Right of First Refusal Agreement is hereby
amended to read as follows:

" 5.1. Termination. Following the twelve-month period beginning April 5, 2001,
this Agreement and the Rights of First Refusal provided for herein will
terminate at any time that the Purchaser and its affiliates do not own shares of
Common Stock, warrants or other securities of the Company which on an
as-converted or as-exercised basis (as applicable) in the aggregate represent
more than ten percent (20%) of the number of shares of Common Stock of the
Company outstanding at such time."

    2.  Except as expressly provided for herein, all other provisions of the
Right of First Refusal Agreement dated April 5, 2001, between the parties hereto
shall remain in full force and effect.

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    IN WITNESS WHEREOF,  the parties hereto have executed this First Amendment
to Right of First Refusal Agreement as of the date first written above.

"COMPANY"   PERCEPTRONICS, INC.,
a Delaware corporation
 
 
By:
 
/s/ RICHARD MOSKOWITZ   

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Name: Richard Moskowitz
Title: Chairman and Chief Executive Officer         Address:   10345 West
Olympic Boulevard, Suite 102
Los Angeles, CA 90064
"PURCHASER"
 
GLOBAL ALPHA CORPORATION,
a British Virgin Islands company
 
 
By:
 
/s/ BARRY DIDATO   

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Name: Barry Didato
Authorized Signatory         Address:   Craigmuir Chambers
P.O. Box 71
Road Town, Tortola, British Virgin Islands
"STOCKHOLDERS"
 
/s/ RICHARD MOSKOWITZ   

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Richard Moskowitz
 
 
/s/ GERSHON WELTMAN   

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Dr. Gershon Weltman
 
 

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Dr. John Lyman
 
 

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Stanley Schneider
 
 

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Robert Parker
 
 

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Dr. Amos Freedy

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Exhibit 10.14
FIRST AMENDMENT TO RIGHT OF FIRST REFUSAL AGREEMENT
R E C I T A L S