Document:

Blue Sphere Corporation 8-K/A

 

Exhibit 10.1

 

December 21, 2017

 

By Email

Tony Tortorella

Jeff Denny

Gary Haseley

Alfred Brand

Tom McDonough

Ronnie Billitier

 

Re:          Senior Debenture/Maturity Date
Extension and Warrants

 

Gentlemen:

 

Reference is made to
that certain Subscription Agreement, dated December 23, 2015, pursuant to which each of you purchased from Blue Sphere Corporation
(“We”, the “Company” or “Blue Sphere”) a Senior Debenture, as subsequently amended (except
for Mr. Gary Haseley), in the aggregate principal amount of $3,000,000 (each a “Senior Debenture” and collectively,
the “Senior Debentures”), and a $0.05 Warrant (“$0.05 Warrant”) and a $0.075 Warrant (“$0.075 Warrant”,
and with the $0.05 Warrant, the “Warrants”) pursuant to the terms and conditions stated therein (the “December
2015 Offering”). Capitalized terms used in this letter agreement shall have the meaning ascribed to such terms in the Senior
Debenture or the Warrants, as the case may be.

 

Thank you for agreeing
to extend the Maturity Date of your Senior Debenture to April 3, 2018 (the “Maturity Date Extension”). We appreciate
your cooperation in this regard and, in turn, agree to the following:

 

(i)            Interest
Payment under Senior Debenture: Blue Sphere shall make two (2) payments totaling an aggregate of five percent (5%) of the total
principal invested by your group, or $3,000,000 (the “Group”). Accordingly, we shall pay an aggregate of $30,000 upon
the execution of this letter agreement by all members of the Group, and an additional payment of $120,000 in the aggregate on April
3, 2018, the new maturity date of your Senior Debenture; such payment being in addition to re-payment of the Principal Amount.
The interest payments made pursuant to this letter agreement shall be on a pro rata basis to each of you, based on your
investment relative to the other members of the Group, as more fully detailed on Schedule A attached hereto.

 

(ii)           Repricing
of Warrant Exercise Prices: Blue Sphere shall amend your Warrants to reflect new Exercise Prices equal to the closing price
of the Company’s common stock on December 21, 2017 (“December 21st Closing Price”). Specifically, each $0.05
Warrant and $0.075 Warrant issued to you in connection with the December 2015 Offering shall be repriced in accordance with this
section (ii).

 

(iii)          New
Warrant: Blue Sphere shall issue new warrants to purchase up to an aggregate of 224,550 shares of the Company’s common
stock, at an exercise price equal to the December 21st Closing Price (the “New Warrants”). The New Warrants shall be
issued on a pro rata basis to each of you, based on your investment relative to the other members of the Group, as more
fully detailed on Schedule A attached hereto.

 

     

     

    

 

In connection with
consummating the foregoing, please find attached to this letter agreement the Second Amendment to Senior Debenture (except for
Mr. Haseley who shall receive a First Amendment to the Senior Debenture), First Amendment to $0.05 Warrant, First Amendment to
$0.075 Warrant and a New Warrant, attached hereto as Exhibit A, Exhibit B, Exhibit C, and Exhibit D, respectively. Each of these
documents has been signed by the Company. Therefore, please countersign each where indicated and return a copy to us, along with
your countersignature to this letter agreement. We shall provide to you a set of all closing documents, including original copies
of the securities and payment of the interest in section (i) to you, as soon as possible, following receipt of countersigned documents
from all members of the Group. 

 

Once again, thank you for your continued support of Blue
Sphere.

 

	 	Very truly yours,
	 	 	 
	 	Blue Sphere Corporation
	 	 	 
	 	By: 	 
	 	Name: Shlomi Palas
	 	Title: Chief Executive officer

  

Accepted and Agreed to as of the date first written above:

 

HOLDER: 

	 	 	 
	 	 	 
	(entity name, if applicable)	 
	 	 	 
	By:	 	 
	 	 	 
	Name: 	 	 
	 	 	 
	Title:	 	 

 

cc: Robert Leone, Esq.

cc: Peter J. Gennuso, Esq.Blue Sphere Corporation 8-K/A

 

Exhibit 10.2

 

[FIRST]/[SECOND] AMENDMENT TO SENIOR
DEBENTURE

 

THIS [FIRST]/[SECOND]AMENDMENT TO SENIOR
DEBENTURE (this “Amendment”) is made as of December 22, 2017 (the “Effective Date”) by
and between Blue Sphere Corporation, a Nevada corporation (the “Company”), and the undersigned (the “Holder”).

 

WHEREAS, the Company issued to Holder
a Senior Debenture, dated December 23, 2015, numbered and in the principal amount as set forth on the signature page hereto (the
“Debenture”), which bears interest at a rate of 11% per annum, and matures on December 22, 2017;

 

[WHEREAS, on or about March 24,
2017, the Company and the Holder entered into that certain First Amendment to Senior Debenture, providing for the amendment to
the Debenture as detailed therein;]

 

WHEREAS, the Company and the Holder
desire to amend the Debenture again on the terms and subject to the conditions set forth herein; and

 

WHEREAS, pursuant to Section 11
of the Debenture, the amendment contemplated by the Company and the Holder must be contained in an instrument in writing, signed
by the parties.

 

NOW, THEREFORE, in consideration
of the premises contained herein and other good and valuable consideration, the receipt and legal sufficiency of which are hereby
acknowledged, the Company and the Holder hereby agree as follows:

 

1.               Definitions.  Capitalized terms used but not defined in this Amendment shall have the meaning ascribed to such
terms in the Debenture.

  

2.               Maturity Date. The Maturity Date set forth in the Debenture shall be changed from “December 22, 2017”
to “April 3, 2018.”

 

3.               Date of Effectiveness; Limited Effect.  This Amendment will be deemed effective as of the Effective Date. Except
as expressly provided in this Amendment, all of the terms and provisions of the Debenture are and will remain in full force and
effect and are hereby ratified and confirmed by the Company and the Holder. On and after the Effective Date, each reference in
the Debenture to “this Debenture,” “the Debenture,” “hereunder,” “hereof,” “herein”
or words of like import, and each reference to the Debenture in any other agreements, documents or instruments executed and delivered
pursuant to, or in connection with, the Debenture, will mean and be a reference to the Debenture as amended by this Amendment.

 

4.               Representations and Warranties. Each party hereby represents and warrants to the other party that: (a) it has the
full right, power and authority to enter into this Amendment and to perform its obligations hereunder and under the Debenture,
as amended by this Amendment; (b) the execution of this Amendment by the individual whose signature is set forth at the end of
this Amendment on behalf of such party, and the delivery of this Amendment by such party, have been duly authorized by all necessary
action on the part of such party; and (c) this Amendment has been executed and delivered by such party and (assuming due authorization,
execution and delivery by the other party hereto) constitutes the legal, valid and binding obligation of such party, enforceable
against such party in accordance with its terms.

 

    1

     

    

 

5.               Miscellaneous.  This Amendment (a) constitutes the sole and entire agreement of the parties with respect to
the subject matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations and
warranties, both written and oral, with respect to such subject matter; (b) may be amended only by a writing signed by each
of the parties; (c) may be executed in several counterparts, each of which shall be deemed an original but all of which shall
constitute one and the same instrument; (d) shall be governed by, and construed and enforced in accordance with, the laws
of the State of Nevada, without giving effect to any conflict of law rules; and (d) shall be binding upon, and inure to the
benefit of, the parties and their respective successors and permitted assigns.

 

[remainder of page left intentionally
blank]

 

    2

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed this Amendment as of the Effective Date.

 

COMPANY: 

	 	 	 
	BLUE SPHERE CORPORATION	 
	 	 	 
	By:	 	 
	Name: 	Shlomi Palas	 
	Title:	Chief Executive Officer	 

 

HOLDER: 

	 	 	 
	(entity name, if applicable)	 
	 	 	 
	By:	 	 
	 	 	 
	Name: 	 	 
	 	 	 
	Title:	 	 

  

DEBENTURE:

 

	Debenture Number:	D-DEC-2015-___________
	 	 
	Principal Amount:	USD $ ________________

 

    3Blue Sphere Corporation 8-K/A

 

Exhibit 10.3

 

FIRST
AMENDMENT TO [$0.05]/[$0.075] WARRANT

 

THIS
FIRST AMENDMENT TO [$0.05]/[$0.075] WARRANT (this “Amendment”) is made as of December 22, 2017 (the “Effective
Date”) by and between Blue Sphere Corporation, a Nevada corporation (the “Company”), and the undersigned
(the “Holder”).

 

WHEREAS,
the Company issued to Holder a Warrant, dated December 23, 2015, numbered and providing for the Holder to purchase Warrant Shares
as more fully detailed therein (the “Warrant”);

 

WHEREAS,
the Company and the Holder desire to amend the Warrant on the terms and subject to the conditions set forth herein; and

 

WHEREAS,
pursuant to Section 11(a) of the Warrant, the amendment contemplated by the Company and the Holder must be contained in an instrument
in writing, signed by the parties.

 

NOW,
THEREFORE, in consideration of the premises contained herein and other good and valuable consideration, the receipt and legal
sufficiency of which are hereby acknowledged, the Company and the Holder hereby agree as follows:

 

1.          Definitions.
Capitalized terms used but not defined in this Amendment shall have the meaning ascribed to such terms in the Warrant.

 

2.          Exercise
Price. The Exercise Price of the Warrant shall be changed from “$[0.05]/[0.075] per share” to “$1.60 per
share”.

 

3.          Date
of Effectiveness; Limited Effect. This Amendment will be deemed effective as of the Effective Date. Except as expressly provided
in this Amendment, all of the terms and provisions of the Warrant are and will remain in full force and effect and are hereby
ratified and confirmed by the Company and the Holder. On and after the Effective Date, each reference in the Warrant to “this
Warrant” “the Warrant,” “hereunder,” “hereof,” “herein” or words of like
import, and each reference to the Warrant in any other agreements, documents or instruments executed and delivered pursuant to,
or in connection with, the Warrant, will mean and be a reference to the Warrant as amended by this Amendment.

 

4.          Representations
and Warranties. Each party hereby represents and warrants to the other party that: (a) it has the full right, power and authority
to enter into this Amendment and to perform its obligations hereunder and under the Warrant, as amended by this Amendment; (b)
the execution of this Amendment by the individual whose signature is set forth at the end of this Amendment on behalf of such
party, and the delivery of this Amendment by such party, have been duly authorized by all necessary action on the part of such
party; and (c) this Amendment has been executed and delivered by such party and (assuming due authorization, execution and delivery
by the other party hereto) constitutes the legal, valid and binding obligation of such party, enforceable against such party in
accordance with its terms.

 

5.          Miscellaneous.
This Amendment (a) constitutes the sole and entire agreement of the parties with respect to the subject matter contained herein,
and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral,
with respect to such subject matter; (b) may be amended only by a writing signed by each of the parties; (c) may be executed in
several counterparts, each of which shall be deemed an original but all of which shall constitute one and the same instrument;
(d) shall be governed by, and construed and enforced in accordance with, the laws of the State of Nevada, without giving effect
to any conflict of law rules; and (d) shall be binding upon, and inure to the benefit of, the parties and their respective successors
and permitted assigns.

 

    1

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Amendment as of the Effective Date.

 

COMPANY:

 

BLUE
SPHERE CORPORATION

	 	 	 
	By:	 	 
	Name:	Shlomi Palas	 
	Title:	Chief Executive Officer	 

 

HOLDER:

	 	 
	(entity name, if applicable)	 

 

	By:	 	 
	 	 	 
	Name:		 
	 	 	 
	Title:	 	 

  

WARRANT:

 

	Warrant Number:	W-DEC-2015-___________	 

 

    2

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