Exhibit 10.43
 
 
AMENDMENT NO. 1
 
to
 
SECURITIES PURCHASE AGREEMENT
 
This AMENDMENT NO. 1 (the “Amendment”), dated as of June 21, 2011 to that
certain SECURITIES PURCHASE AGREEMENT (the “Agreement”), dated as of March 31,
2011, by and between InspireMD, Inc., a Delaware corporation (the “Company”),
and the purchasers identified on the signature pages to the Agreement (the
“Purchasers”).
 
W I T N E S S E T H :
 
WHEREAS, the Company and the Purchasers desire to amend the Agreement as set
forth below; and
 
WHEREAS, the Agreement may be amended by a written instrument signed by the
Company and the Purchasers holding at least fifty-one percent (51%) in interest
of the Shares (as defined in the Agreement) outstanding.
 
NOW, THEREFORE, in consideration of the premises and mutual covenants and
obligations hereinafter set forth, the parties hereto, intending legally to be
bound, hereby agree as follows:
 
1.           The definition of “Exempt Issuance” in Section 1.1 of the Agreement
is hereby amended in its entirety to read as follows:
 
“ “Exempt Issuance” means the issuance of (a) shares of Common Stock or options
to employees, officers, consultants or directors of the Company pursuant to the
Stock Option Plan in an amount not to exceed 15,000,000 shares of Common Stock
in the aggregate (subject to appropriate adjustments for any stock dividend,
stock split, stock combination, reclassification or similar transaction after
the Closing Date), (b) securities upon the exercise or exchange of or conversion
of any Securities issued hereunder, (c) securities exercisable or exchangeable
for or convertible into shares of Common Stock issued and outstanding on the
date of this Agreement and listed on Schedule 3.1(g), provided that such
securities have not been amended since the date of this Agreement to increase
the number of such securities or to decrease the exercise price, exchange price
or conversion price of such securities, (d) securities issued (other than for
cash) in connection with a synergistic merger, acquisition, or consolidation of
all or substantially all of the assets, securities or business division of
another entity, and (e) options to purchase up to an aggregate of 486,966 shares
of Common Stock at an exercise price of $1.23 (subject to appropriate
adjustments for any stock dividend, stock split, stock combination,
reclassification or similar transaction after the Closing Date) to David Ivry,
Robert Fischell and Fellice Pelled (and the shares of Common Stock issuable upon
exercise), which options shall be fully vested and shall expire on December 31,
2014.”
 
 
 

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2.           Section 4.10(b) of the Agreement is hereby amended in its entirety
to read as follows:
 
“Until twelve (12) months after the Closing Date, the Company shall not increase
the number of shares available for issue under the Stock Option Plan, amend the
Stock Option Plan, reprice any outstanding stock options (except for appropriate
adjustments for any stock dividend, stock split, stock combination,
reclassification or similar transaction after the Closing Date), nor issue any
options or shares under the Stock Option Plan such that the aggregate number of
shares to be purchased by options so issued or shares so issued shall not exceed
15,000,000 shares of Common Stock in the aggregate (subject to appropriate
adjustments for any stock dividend, stock split, stock combination,
reclassification or similar transaction after the Closing Date) nor grant any
options with an exercise price lower than the fair market value of the Common
Stock on the date of grant, except with respect to (i) options that the Company
or any of its Subsidiaries are contractually obligated to issue on the date
hereof at a lower price, which are described on Schedule 4.10, (ii) options the
Company shall grant to Sol Barer as consideration for his duties as a director
and (iii) options to purchase up to an aggregate of 486,966 shares of Common
Stock at an exercise price of $1.23 (subject to appropriate adjustments for any
stock dividend, stock split, stock combination, reclassification or similar
transaction after the Closing Date) to David Ivry, Robert Fischell and Fellice
Pelled (and the shares of Common Stock issuable upon exercise), which options
shall be fully vested and shall expire on December 31, 2014.”
 
3.           Except as modified and amended herein, all of the terms and
conditions of the Agreement shall remain in full force and effect.
 
4.           This Amendment shall be governed by and construed in accordance
with the laws of the State of New York without application of the conflict of
laws provisions thereof.
 
[Signature pages follow]
 
 
 

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IN WITNESS WHEREOF, this Amendment is executed and entered into effective as of
the date first written above.
 

COMPANY:                     INSPIREMD, INC.                     By:
/s/ Craig Shore
   
 
   
Name:  Craig Shore
   
 
   
Title:    Chief Financial Officer
   
 
 

      
 
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
SIGNATURE PAGE FOR PURCHASER FOLLOWS]
 
 
 
 
 
[SIGNATURE PAGE TO AMENDMENT NO. 1 TO SECURITIES PURCHASE AGREEMENT]
 
 
 

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[PURCHASER SIGNATURE PAGES TO AMENDMENT NO. 1]
 
 

Name of Purchaser: American European Insurance Company     Signature of
Authorized Signatory of Purchaser: /s/ Steve Klein     Name of Authorized
Signatory: Steve Klein     Title of Authorized Signatory: Treasurer     Number
of Shares: 200,000    

 
 
 

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[PURCHASER SIGNATURE PAGES TO AMENDMENT NO. 1]
 

Name of Purchaser: Osiris Investment Partners, LP     Signature of Authorized
Signatory of Purchaser: /s/ Paul Stuka     Name of Authorized Signatory: Paul
Stuka     Title of Authorized Signatory: Principal and Managing Member    
Number of Shares: 1,333,334    

 
 
 

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[PURCHASER SIGNATURE PAGES TO AMENDMENT NO. 1]
 

Name of Purchaser: Platinum Partners Value Arbitrage Master Fund L.P.    
Signature of Authorized Signatory of Purchaser: /s/ Joseph Finestone     Name of
Authorized Signatory:
Joseph Finestone
    Title of Authorized Signatory: Associate     Number of Shares: 2,000,000    

 
 
 

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[PURCHASER SIGNATURE PAGES TO AMENDMENT NO. 1]
 

Name of Purchaser:       Signature of Authorized Signatory of Purchaser: /s/
Bernard Fuchs     Name of Authorized Signatory: Bernard Fuchs     Title of
Authorized Signatory:       Number of Shares: 66,667    

 
 
 

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[PURCHASER SIGNATURE PAGES TO AMENDMENT NO. 1]
 

Name of Purchaser:
Alpha Capital Anstalt
    Signature of Authorized Signatory of Purchaser:
/s/ Konrad Ackermann
    Name of Authorized Signatory:
Konrad Ackermann
    Title of Authorized Signatory: Director     Number of Shares: 666,667