F-1/A





                                                                     Exhibit 4.3

RIGHTS CERTIFICATE #:                                           NUMBER OF RIGHTS

     THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE
     COMPANY'S PROSPECTUS DATED _____ __, 2010 (THE "PROSPECTUS") AND ARE
     INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE
     UPON REQUEST FROM THE ALTMAN GROUP, INC., THE INFORMATION AGENT.

                                   TEFRON LTD.

                    Incorporated under the laws of the State
                                    of Israel

                         SUBSCRIPTION RIGHTS CERTIFICATE

                   Evidencing Subscription Rights to Purchase
                         Ordinary Shares of Tefron Ltd.

                       Subscription Price: $3.8 per Share

           THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR
                      BEFORE 5:00 P.M., NEW YORK CITY TIME,
               ON _______ __, 2010, UNLESS EXTENDED BY THE COMPANY

REGISTERED OWNER:

     THIS CERTIFIES THAT the registered owner whose name is inscribed hereon is
     the owner of the number of subscription rights ("Rights") set forth above.
     Each whole Right entitles the holder thereof to subscribe for and purchase
     one Ordinary Share, with a par value of NIS 10.0 per share, of Tefron Ltd.,
     an Israeli corporation, at a subscription price of $3.8 per share, pursuant
     to a rights offering (the "Rights Offering"), on the terms and subject to
     the conditions set forth in the Prospectus and the "Form of Instructions as
     to Use of Tefron Ltd. Subscription Rights Certificates" accompanying this
     Subscription Rights Certificate.

     There is no over-subscription privilege. The Rights represented by this
     Subscription Rights Certificate may be exercised by completing Form 1 and
     any other appropriate forms on the reverse side hereof and by retuning the
     full payment of the subscription price for each Ordinary Share in
     accordance with the instructions set forth in the Prospectus.

     This Subscription Rights Certificate is not valid unless countersigned by
     the subscription agent and registered by the registrar. Witness the seal of
     Tefron Ltd. and the signatures of its duly authorized officers.

     Dated:















----------------------                              -----------------------
Chief Executive Officer                             Chief Financial Officer








              DELIVERY OPTIONS FOR SUBSCRIPTION RIGHTS CERTIFICATE

   Delivery other than in the manner or to the addresses listed below will not
                           constitute valid delivery.

          IF DELIVERING BY HAND:           IF DELIVERING BY MAIL OR OVERNIGHT COURIER:
 American Stock Transfer & Trust Company     American Stock Transfer & Trust Company
            Operations Center                           Operations Center
     Attn: Reorganization Department             Attn: Reorganization Department
              59 Maiden Lane                            6201 15th Avenue
         New York, New York 10038                   Brooklyn, New York 11219

               PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.

FORM 1-EXERCISE OF SUBSCRIPTION RIGHTS

To subscribe for ordinary shares, please complete lines (a) and (b) and sign
under Form 4 below.

(a)  EXERCISE OF SUBSCRIPTION RIGHTS:

I apply for ______________ shares x $ 3.8    =   $____________________
          (no. of new shares)   (subscription price)  (amount enclosed)

(b)  METHOD OF PAYMENT (CHECK ONE)

[_]  Cashier's or certified check drawn on a bank located in the United States
     and payable to the order of "American Stock Transfer & Trust Company, as
     Rights Agent." Funds paid by an uncertified check may take at least five
     business days to clear.

[_]  Wire transfer of immediately available funds directly to the account
     maintained by American Stock Transfer & Trust Company, LLC, as Subscription
     Agent, for purposes of accepting subscriptions in this Rights Offering at
     JPMorgan Chase Bank, 55 Water Street, New York, New York 10005, ABA
     #021000021, Account # 323-836895 American Stock Transfer FBO Tefron Ltd.,
     with reference to the rights holder's name.

FORM 2-SALE OR TRANSFER TO DESIGNATED TRANSFEREE OR THROUGH BANK OR BROKER

To sell or transfer your subscription rights to another person, complete this
form and have your signature guaranteed under Form 5. To sell your subscription
rights through your bank or broker, sign below under this Form 2 and have your
signature guaranteed under Form 5, but leave the rest of this Form 2 blank.

For value received ______________ of the subscription rights represented by this
Subscription Rights Certificate are assigned to:

________________________________________________________________
Print Full Name of Assignee)

________________________________________________________________
(Print Full Address)

Social Security # __________________________________________________

Signature(s): ______________________________________________________

IMPORTANT: The signature(s) must correspond with the name(s) as printed on the
reverse of this Subscription Rights Certificate in every particular, without
alteration or enlargement, or any other change whatsoever.

FORM 3-DELIVERY TO DIFFERENT ADDRESS

If you wish for the ordinary shares underlying your subscription rights to be
delivered to an address different from that shown on the face of this
Subscription Rights Certificate, please enter the alternate address below, sign
under Form 4 and have your signature guaranteed under Form 5.

________________________________________________________________

________________________________________________________________

________________________________________________________________

FORM 4-SIGNATURE

TO SUBSCRIBE: I acknowledge that I have received the Prospectus for this Rights
Offering and I hereby irrevocably subscribe for the number of shares indicated
above on the terms and conditions specified in the Prospectus.

Signature(s): ______________________________________________________

IMPORTANT: The signature(s) must correspond with the name(s) as printed on the
reverse of this Subscription Rights Certificate in every particular, without
alteration or enlargement, or any other change whatsoever.

FORM 5-SIGNATURE GUARANTEE

This form must be completed if you have completed any portion of Forms 2 or 3.

Signature Guaranteed: _______________________________________________
                              (Name of Bank or Firm)

 By:_______________________________________________________________
                               (Signature of Officer)

IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor
institution (bank, stock broker, savings & loan association or credit union)
with membership in an approved signature guarantee medallion program pursuant to
Securities and Exchange Commission Rule 17Ad-15.

FOR INSTRUCTIONS ON THE USE OF TEFRON LTD. SUBSCRIPTION RIGHTS CERTIFICATES,
CONSULT THE ALTMAN GROUP, INC., THE INFORMATION AGENT, AT (877) 896-3194.


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                              FORM OF INSTRUCTIONS
                                  AS TO USE OF
                                   TEFRON LTD.
                        SUBSCRIPTION RIGHTS CERTIFICATES

               CONSULT THE INFORMATION AGENT, YOUR BANK OR BROKER
                               AS TO ANY QUESTIONS

     The following instructions relate to a rights offering (the "Rights
Offering") by Tefron Ltd., an Israeli company ("Tefron"), to the holders of
record (the "Recordholders") of its ordinary shares, par value NIS 10.0 per
share (the "Ordinary Shares"), as described in the Tefron prospectus dated
[_________] [_], 2010 (the "Prospectus"). Recordholders of Ordinary Shares as of
5:00 p.m., New York City time, on [________________], 2010 (the "Record Date")
are receiving transferable subscription rights (the "Rights") to subscribe for
and purchase Ordinary Shares. An aggregate of 1,578,947 underlying Ordinary
Shares are being offered by the Prospectus. Each Recordholder will receive one
Right for each 1.3429 Ordinary Shares owned of record as of 5:00 p.m., New York
City time, on the Record Date. The Rights will expire, if not exercised, at 5:00
p.m., New York City time, on [__________], 2010, unless extended in the sole
discretion of Tefron (as it may be extended, the "Expiration Date"). After the
Expiration Date, unexercised Rights will be null and void. Tefron will not be
obligated to honor any purported exercise of Rights received by American Stock
Transfer & Trust Company, LLC (the "Rights Agent") after 2:00 a.m., New York
City time, on the Expiration Date, regardless of when the documents relating to
such exercise were sent. Tefron may extend the Expiration Date by giving oral or
written notice to the Rights Agent on or before the Expiration Date, followed by
a press release no later than 9:00 a.m., New York City time, on the next
business day after the previously scheduled Expiration Date. The Ordinary Shares
are quoted on the Over the Counter Bulletin Board ("OTCBB") under the symbol
"TFRFF.OB" and are listed on the Tel Aviv Stock Exchange in Israel under the
Symbol "TFRLF." The Rights are transferable, and we have applied to quote the
Rights on the OTCBB. We have also applied to list the Rights on the TASE under
the symbol "[______]" for one day only on _______, 2010. The Rights will be
evidenced by Rights certificates (the "Rights Certificates"), which will be
transferable until the close of business on the last OTCBB trading day preceding
the Expiration Date, at which time they will cease to have value.

     Each Right entitles the holder thereof to purchase one Ordinary Share (the
"Subscription Privilege") at the cash price of $3.8 per share (the "Subscription
Price").

     The number of Rights to which you are entitled is printed on the face of
your Rights Certificate. You should indicate your wishes with regard to the
exercise of your Rights by completing the appropriate portions of your Rights
Certificate and returning the certificate to the Rights Agent in the envelope
provided, in accordance with these instructions and the terms set forth in the
Prospectus.

    YOUR RIGHTS CERTIFICATES AND SUBSCRIPTION PRICE PAYMENT, INCLUDING FINAL
CLEARANCE OF ANY CHECKS, MUST BE RECEIVED BY THE RIGHTS AGENT ON OR BEFORE 2:00
A.M., NEW YORK CITY TIME, ON THE EXPIRATION DATE. ONCE A HOLDER OF RIGHTS HAS
EXERCISED ITS SUBSCRIPTION PRIVILEGE, SUCH EXERCISE MAY NOT BE REVOKED. RIGHTS
NOT EXERCISED PRIOR TO THE EXPIRATION DATE OF THE RIGHTS OFFERING WILL EXPIRE
AND BE NULL AND VOID.

1.   METHOD OF SUBSCRIPTION - EXERCISE OF RIGHTS.

     To exercise Rights, complete your Rights Certificate and send your properly
completed and executed Rights Certificate evidencing such Rights with any
signatures required to be guaranteed so guaranteed, together with payment in
full of the Subscription Price for each Ordinary Share subscribed for pursuant
to the Subscription Privilege, to the Rights Agent, on or prior to 5:00 p.m.,
New York City time, on the Expiration Date. Payment of the Subscription Price
will be held in a segregated account to be maintained by the Rights Agent. All
payments must be made in U.S. dollars for the full number of Ordinary Shares
being subscribed for (a) by cashier's or certified check drawn upon a U.S. bank
payable to American Stock Transfer & Trust Company LLC, as Rights Agent, or (b)
by wire transfer of immediately available funds, to the account maintained by
the Rights Agent for purposes of accepting subscriptions in the Rights Offering
at JP Morgan Chase, ABA No.021000021, further credit to Account Number
323-836895, reference Tefron Ltd., Attention: Reorganization Department (the
"Subscription Account"). Any wire transfer should clearly indicate the identity
of the subscriber who is paying the Subscription Price by wire transfer and the
Rights Certificate number. Additionally for wire transfers, send your Rights
Certificate via overnight courier to be delivered on the next business day
following the day of the wire transfer to the Rights Agent. Payments will be
deemed to have been received upon (i) receipt by the Rights Agent of a cashier's
or certified check drawn upon a U.S. bank payable to the Rights Agent or (ii)
receipt of collected funds in the Subscription Account designated above.
Personal checks will not be accepted. You are responsible for any wire transfer
fees.


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     The Rights Certificate and payment of the Subscription Price (other than
wire transfers) must be delivered by the Expiration Date to the Rights Agent by
one of the methods described below:

           IF DELIVERING BY MAIL:                  IF DELIVERING BY HAND OR COURIER:

American Stock Transfer & Trust Company, LLC  American Stock Transfer & Trust Company, LLC
              Operations Center                            Operations Center
       Attn: Reorganization Department              Attn: Reorganization Department
              6201 15th Avenue                               59 Maiden Lane
          Brooklyn, New York 11219                      New York, New York 10038

                       TELEPHONE NUMBER FOR CONFIRMATION:
                            Toll Free: (877) 248-6417
                                 (718) 921-8317

                        Telephone Number for Information:
                            Toll Free: (877) 896-3194
                    Information Agent, The Altman Group, Inc.

        DELIVERY TO AN ADDRESS OTHER THAN THOSE ABOVE DOES NOT CONSTITUTE
                                 VALID DELIVERY.

     By making arrangements with your bank or broker for the delivery of funds
on your behalf you may also request such bank or broker to exercise the Rights
Certificate on your behalf.


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     If the aggregate Subscription Price paid by you is insufficient to purchase
the number of Ordinary Shares subscribed for, or if no number of Ordinary Shares
to be purchased is specified, then you will be deemed to have exercised the
Subscription Privilege to purchase Ordinary Shares to the full extent of the
payment tendered.

     If the aggregate Subscription Price paid by you exceeds the amount
necessary to purchase the number of Ordinary Shares for which you have indicated
an intention to subscribe, then any remaining amount shall be returned to you by
mail without interest or deduction as soon as practicable after the Expiration
Date and after all prorations and adjustments contemplated by the terms of the
Rights Offering have been effected.

2.   ISSUANCE OF ORDINARY SHARES.

     As soon as practicable after the Expiration Date and the valid exercise of
Rights, the Rights Agent will mail to each exercising Rights holder certificates
representing Ordinary Shares purchased pursuant to the Subscription Privilege.

3.   SALE OR TRANSFER OF RIGHTS.

     (A) SALE OF RIGHTS THROUGH A COMMERCIAL BANK OR BROKER. To sell Rights
evidenced by a Rights Certificate through your commercial bank or broker, sign
Form 2 of your Rights Certificate leaving the rest of the Form blank (your
broker will add the buyer's name later). You must have your signature on Form 2
guaranteed in Form 5 by an Eligible Institution and deliver your Rights
Certificate and the accompanying envelope to your commercial bank or broker.
Your Rights Certificate should be delivered to your commercial bank or broker in
ample time for it to be exercised. If Form 2 is completed without designating a
transferee, the Rights Agent may thereafter treat the bearer of the Rights
Certificate as the absolute owner of all of the Rights evidenced by such Rights
Certificate for all purposes, and the Rights Agent shall not be affected by any
notice to the contrary. Because your commercial bank or broker cannot issue
Rights Certificates, if you wish to sell less than all of the Rights evidenced
by a Rights Certificate, either you or your commercial bank or broker must
instruct the Rights Agent as to the action to be taken with respect to the
Rights not sold, or you or your commercial bank or broker must first have your
Rights Certificate divided into Rights Certificates of appropriate denominations
by following the instructions in Section 4 of these instructions. The Rights
Certificates evidencing the number of Rights you intend to sell can then be
transferred by your commercial bank or broker in accordance with the
instructions in this Section 3(a).

     (B) TRANSFER OF RIGHTS TO A DESIGNATED TRANSFEREE. To transfer your Rights
to a transferee other than a commercial bank or broker, you must complete Form 2
in its entirety, execute the Rights Certificate and have your signature
guaranteed in Form 5 by an Eligible Institution. A Rights Certificate that has
been properly transferred in its entirety may be exercised by a new holder
without having a new Rights Certificate issued. In order to exercise, or
otherwise take action with respect to, such a transferred Rights Certificate,
the new holder should deliver the Rights Certificate, together with payment of
the applicable Subscription Price and complete separate instructions signed by
the new holder, to the Rights Agent in ample time to permit the Rights Agent to
take the desired action. Because only the Rights Agent can issue Rights
Certificates, if you wish to transfer less than all of the Rights evidenced by
your Rights Certificate to a designated transferee, you must instruct the Rights
Agent as to the action to be taken with respect to the Rights not sold or
transferred, or you must divide your Rights Certificate into Rights Certificates
of appropriate smaller denominations by following the instructions in Section 4
below. The Rights Certificate evidencing the number of Rights you intend to
transfer can then be transferred by following the instructions in this Section
3(b).

     (c) Rights holders wishing to transfer a portion of their Rights (or all of
their Rights in separate portions) should allow a sufficient amount of time
prior to the Expiration Date for (i) the transfer instructions to be received
and processed by the Rights Agent, (ii) a new Rights Certificate to be issued
and transmitted to the transferee or transferees with respect to transferred
Rights and to the transferor with respect to retained Rights, if any, and (iii)
the Rights evidenced by such new Rights Certificates to be exercised or sold by
the recipients thereof. The Rights Agent will facilitate transfers of Rights
Certificates only until 5:00 p.m., New York City time, on [_____________], 2010,
the fifth business day before the Expiration Date.

     (d) Neither Tefron nor the Rights Agent shall have any liability to a
transferee or transferor of Rights if Rights Certificates or any other required
documents are not received in time for exercise or sale prior to the Expiration
Date.


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     (E) COMMISSIONS, FEES AND EXPENSES. Tefron will pay all fees charged by the
Rights Agent, other than fees associated with the sale or transfer of Rights,
and the fees charged by the Information Agent. You are responsible for paying
any other commissions, fees, taxes or other expenses incurred in connection with
the exercise of the Rights. Neither we nor the Rights Agent nor the Information
Agent will pay such expenses. Tefron has agreed to indemnify the Rights Agent
from certain liabilities that they may incur in connection with the issuance of
the Rights and the Ordinary Shares if you exercise your Rights.

4.   DIVISION OF RIGHTS CERTIFICATE INTO SMALLER DENOMINATIONS.

     To have a Rights Certificate divided into smaller denominations, send your
Rights Certificate, together with complete separate instructions (including
specification of the denominations into which you wish your Rights to be
divided) signed by you, to the Rights Agent, allowing a sufficient amount of
time for new Rights Certificates to be issued and returned so that they can be
used prior to the Expiration Date. Alternatively, you may ask a commercial bank
or broker to effect such actions on your behalf. The Rights Agent will
facilitate subdivisions of Rights Certificates only until 5:00 p.m., New York
City time, on [_____________], 2010, five business days prior to the Expiration
Date. Your signature must be guaranteed in Form 5 by an Eligible Institution if
any of the new Rights Certificates are to be issued in a name other than that in
which the old Rights Certificate was issued. As a result of delays in the mail,
the time of the transmittal, the necessary processing time and other factors,
you or your transferee may not receive such new Rights Certificates in time to
enable the Rights holder to complete a sale or exercise by the Expiration Date.
Neither Tefron nor the Rights Agent will be liable to either a transferor or
transferee for any such delays.

5.   EXECUTION.

     (A) EXECUTION BY REGISTERED HOLDER. The signature on the Rights Certificate
must correspond with the name of the registered holder exactly as it appears on
the face of the Rights Certificate without any alteration or change whatsoever.
Persons who sign the Rights Certificate in a representative or other fiduciary
capacity must indicate their capacity when signing and, unless waived by the
Rights Agent in its sole and absolute discretion, must present to the Rights
Agent satisfactory evidence of their authority to so act.

     (B) EXECUTION BY PERSON OTHER THAN REGISTERED HOLDER. If the Rights
Certificate is executed by a person other than the holder named on the face of
the Rights Certificate, proper evidence of authority of the person executing the
Rights Certificate must accompany the same unless the Rights Agent, in its
discretion, dispenses with proof of authority.

     (C) SIGNATURE GUARANTEES. Your signature must be guaranteed by an Eligible
Institution.

6.   METHOD OF DELIVERY.

     The method of delivery of Rights Certificates and payment of the
Subscription Price to the Rights Agent will be at the election and risk of the
Rights holder. If sent by mail, it is recommended that such certificates and
payments be sent by overnight courier or by registered mail, properly insured,
with return receipt requested, and that a sufficient number of days be allowed
to ensure delivery to the Rights Agent and the clearance of payment prior to
5:00 p.m., New York City time, on the Expiration Date.

7.   SPECIAL PROVISIONS RELATING TO THE DELIVERY OF RIGHTS THROUGH THE
     DEPOSITORY TRUST COMPANY.

     In the case of Rights that are held of record through the Depository Trust
Company (the "Book-Entry Transfer Facility"), exercises of the Subscription
Privilege may be effected by instructing the Book-Entry Transfer Facility to
transfer Rights from the Book-Entry Transfer Facility account of such holder to
the Book-Entry Transfer Facility account of the Rights Agent, together with
certification as to the aggregate number of Rights exercised and the number of
Ordinary Shares thereby subscribed for pursuant to the Subscription Privilege by
each beneficial owner of Rights on whose behalf such nominee is acting, and
payment of your Subscription Price for each Ordinary Share subscribed for
pursuant to the Subscription Privilege.


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