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EXHIBIT 4.(b)15

# AMENDMENT NO. 2 TO
AMENDMENT NO. 2 TO
RESTRUCTURING AGREEMENT

This amendment (the
Amendment) to Amendment No.2 to the Restructuring Agreementis
dated the 22day of February 2009 (effective as of the
31st day of December 2008) between:

|1. | Lumenis
Ltd., a company incorporated under the laws of Israel, whose           registered
office is at Industrial Zone, Yoqneam, Israel (the           Borrower);
and
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2. | Bank
Hapoalim B.M.(the Bank)
|-- | ------------------------------

# WHEREAS:

|A. | On
30th September 2006, the Borrower and the Bank entered into a
          Restructuring Agreement (the RestructuringAgreement)
          pursuant to which the Borrower and the Bank agreed to restructure the Prior
          Outstanding Debt of the Borrower and subsidiaries of the Borrower into a single
          Loan (as defined therein) and to set out the terms and conditions applicable
          with respect to the Loan.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|B. | On December 5,
2006, the Borrower and the Bank entered into           Amendment No.1 to the
Restructuring Agreement,
|-- | --------------------------------------------------------------------------------------------------------------------

|C. | On June 25,
2008, the Borrower and the Bank entered into           Amendment No. 2 to the
Restructuring Agreement, which amendment was itself           amended on November 10,
2008 (Amendment No. 2),
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|D. | The
Parties wish to further amend Amendment No. 2 as set forth herein.
|-- | ----------------------------------------------------------------------

# THEREFORE, IT IS HEREBY
AGREED AS FOLLOWS:

|1. | DEFINITIONS
AND INTERPRETATION
|-- | ------------------------------

| | 1.1 | In this Amendment, capitalised terms that are used but not defined herein shall have the
meanings ascribed to such terms in Amendment No. 2.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------

| | 1.2 | Words and defined terms denoting the singular number include the plural and vice versa and
the use of any gender shall be applicable to all genders.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------

| | 1.3 | The
paragraph  headings are for the sake of convenience  only and shall not affect the
 interpretation                 of this Amendment.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------

|2. | AMENDMENTS
|-- | ----------

| | The
following amendments shall be made to Amendment No. 2:
| | ----------------------------------------------------------

| | 2.1 | The
reference to the words: No later than 31 December 2008, the following actions
shall occur or be deemed to have occurred: (a) the Borrower shall pay the Bank a sum of $5 million
Dollars (the Third Repayment Amount) to be deposited in the Account in
repayment of the New Loan B in Clause 2.2 of Amendment No. 2 (in the
paragraph deleting and replacing the previous language of Section 4.1.3 of the
Restructuring Agreement) shall be deleted and replaced by: No later than March 31,
2009, the following actions shall occur or be deemed to have occurred: (a) the
Borrower shall pay the Bank a sum of (i) $5 million Dollars, plus (ii) interest
on the amount of $5 million Dollars for the period beginning on January 1, 2009 and
ending on the date such payment is made, at the rate of LIBOR + 3% (the Third
Repayment Amount) to be deposited in the Account in repayment of the New Loan B.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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| | 2.2 | All
 references  to the words:  "December 11,  2008" in Clause 4  of  Amendment  No. 2 shall
be replaced  by: March 31, 2009
| | --- | ------------------------------------------------------------------------------------------------------------------------------

| | The
Borrower and the Bank hereby agree that Amendment No. 2 shall be amended in
accordance with this Amendment. Other than as expressly amended as set out herein, the
provisions of the Restructuring Agreement and Amendment No. 2 shall remain unchanged
and in full force and effect in accordance with the terms thereof.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|3. | UNDERTAKING
|-- | -----------

| | 3.1 | Immediately
following the execution of this Amendment, the Borrower shall pay to the bank a credit
handling commission in the sum of $31,250 (the Commission).
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 3.2 | For
purposes of clarification, the Commission will be paid in addition to any obligations of
the Borrower to make any payments under the Restructuring Agreement, as amended, or any
other agreement between the Borrower and the Bank, and will not detract from such
obligations.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 3.3 | Failure
to pay the Commission immediately following the execution of this Amendment shall
constitute an Event of Default under the Restructuring Agreement, as amended.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4. | MISCELLANEOUS
|-- | -------------

| | 4.1 | This
Amendment may be executed in any number of counterparts and all of such counterparts
taken together shall be deemed to constitute one and the same instrument.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 4.2 | This
Amendment shall be construed in accordance with the laws of the State of Israel. The
exclusive place of jurisdiction for the purpose of this Amendment is hereby established
as the competent court of law in Israel situated in Tel Aviv-Jaffa.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 4.3 | If
a provision of this Amendment is or becomes illegal, invalid or unenforceable in any
jurisdiction, that shall not affect the validity or enforceability in that jurisdiction
of any other provision hereof or the validity or enforceability in other jurisdictions of
that or any other provision hereof.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Where
provisions of any applicable law resulting in such illegality, invalidity or
unenforceability may be waived, they are hereby waived by each party to the full extent
permitted so that this Amendment shall be deemed valid and binding agreements, enforceable
in accordance with its terms.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 4.4 | Nothing
in this Amendment shall create or confer upon any person or entity, other than the
parties hereto or their respective successors and permitted assigns, any rights,
remedies, obligations or liabilities.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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IN WITNESS WHEREOF, the parties have
signed this Amendment on the date first mentioned above.

|for:By:Name:Title: | LUMENIS LTD./s/ Dov OferDov OferCEO |  | for:By:Name:Title: | BANK HAPOALIM B.M./s/ Rachel ArbelRachel Arbel
|------------------ | ----------------------------------------------------------------------------- |  | ------------------ | ----------------------------------------------------------------------------------------

|By:Name:Title: | /s/ Aviram SteinhartAviram SteinhartCFO |  | By:Name:Title: | /s/ Gil BarzilayGil Barzilay
|-------------- | --------------------------------------------------------------------------------- |  | -------------- | ----------------------------------------------------------------------

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