Document:

AMENDMENT 3 TO STOCK PURCHASE AGREEMENT

 

THIS AMENDMENT NO. 3 (“Agreement”)
is made and entered into this 1st day of September 2015 to a STOCK PURCHASE AGREEMENT (the “Purchase
Agreement”), dated as of 31 October 2014, and as amended on __ July 2015, by and among (i) DOVI BRUKER, an individual
(“Bruker” or the “Majority Globisens Shareholder”) and the other minority Globisens
Shareholders (each a “Minority Globisens Shareholder” and collectively, the “Minority Globisens
Shareholders”); (ii) GLOBISENS LTD., a corporation organized under the laws of the State of Israel (“Globisens”
or the “Company”); and (iii) BOXLIGHT CORPORATION (formerly, LOGICAL CHOICE CORPORATION, a
Nevada corporation (“LCC” or the “Buyer”).

 

1. Section 1.3(a) and Section 1.3(b) of the
Purchase Agreement is deleted in its entirety and is replaced by the following Section 1.3(a) and Section 1.3(b):

 

“1.3 Purchase
Price and Payment. The Purchase Price shall be payable to the Globisens Shareholders in full on the Closing Date as follows:

 

(a) The sum of Two Million
Five Hundred Thousand ($2,500,000) Dollars (“Closing Cash Consideration”) shall be paid at Closing in
cash by wire transfer of immediately available funds to the accounts designated by each Globisens Shareholder (which shall be distributed
among such shareholders according to Annex A hereto)according to their Pro Rata Entitlement ; it being understood
by the Parties that (i) the Closing Cash Consideration shall be paid out of the net proceeds of the “Buyer IPO”
described below and (ii) Buyer shall at all times, ensure sufficient funds to be paid upon exercise of the Put Option (described
below); and

 

(b) At Closing the Buyer
shall delivery and transfer to each of the Globisens Shareholders his or its applicable “Pro Rata Entitlement” for
an aggregate number of shares of common stock, $0.0001 par value per share (the “Buyer Common Stock”)
as shall represent 3.437% of the issued and outstanding shares of “Buyer Fully-Diluted Common Stock”
(herein defined) immediately prior to the Buyer IPO, based on a valuation of all Buyer Fully-Diluted Common Stock immediately prior
to the Buyer IPO of not less than (USD) Fifty Million Dollar ($50,000,000) (the “Minimum Market Valuation”).
In the event that for any reason, the Minimum Market Valuation in the Buyer IPO shall be less than (USD) $50,000,000, the percentage
of the Buyer Fully-Diluted Common Stock represented by the Buyer Shares shall be proportionately increased. The term “Buyer
Fully-Diluted Common Stock” shall mean the collective reference to (i) all issued and outstanding Buyer Common Stock,
(ii) all issued and outstanding Buyer preferred or preference shares (if any), (iii) all Common Stock as may be issuable upon the
exercise of all warrants, stock options or other rights granted to any Person to purchase such Buyer Common Stock, and (iv) all
Buyer Common Stock that may be issued upon conversion into Buyer Common Stock of notes, debentures, preferred stock or other securities
convertible into such Buyer Common Stock.”

 

2. All of the other provisions of the Purchase
Agreement, including without limitation, the provisions of Section 1.4 (Put Option; Lock Up Agreement and Trustee Instructions
Agreement) shall continue to remain in full force and effect and are incorporated by this reference into this Agreement as
though more fully set forth herein at length.

 

3. For the avoidance of doubt, it is hereby
clarified that Buyer irrevocably assumes any and all liabilities, obligations and all actions to be taken by Boxlight Corporation
(formerly, Logical Choice Corporation), according to the Purchase Agreement as if Buyer executed the Purchase Agreement as of October
31, 2014.

 

**********************

 

Signature page follows

    	 

    	 

    

 

IN WITNESS WHEREOF, the Parties have
caused their duly authorized representatives to execute this Agreement on the date first above written.

 

	Buyer:	BOXLIGHT CORPORATION
	 	(formerly, Logical Choice Corporation)
	 	 	 
	 	By:	/s/ Mark Elliott
	 	Name:	Mark Elliott
	 	Title:	Chief Executive Officer
	Globisens Majority Shareholder: 	 	 
	 	 	 
	 	/s/ Dovi Bruker 
	 	DOVI BRUKER
	 	 
	The Company:	GLOBISENS LTD.,
	 	 	 
	 	By:	/s/ Dovi Bruker
	 	Name:	Dovi Bruker
	 	Title:	CEOAMENDMENT
3 TO SHARE PURCHASE AGREEMENT AND OPTION AGREEMENT

 

THIS
AMENDMENT NO. 3 (“Agreement”) is made and entered into this 10th
day of July 2015 to a SHARE PURCHASE AGREEMENT, dated as of January 20,
2015, as amended as of March 27, 2015 and as further amended on the 1st day of June 2015 (collectively, the “Purchase
Agreement”) by and among: K LASER TECHNOLOGY, INC.,
a Taiwan corporation, (“K Laser”), the other Persons who are
listed as Majority Shareholders on Exhibit A-1 to the Purchase Agreement;
寶萊特科技股份有限公司 (BOXLIGHT DISPLAY, INC.),
a corporation organized under the laws of Taiwan (the “Purchaser”); BOXLIGHT CORPORATION
(formerly, LOGICAL CHOICE CORPORATION), a corporation
organized under the laws of the State of Nevada, United States (the “Parent”);
and VERT CAPITAL CORP., a corporation organized under the laws of the State of
Delaware, United States (“Vert”). 

 

Reference
is also made to an OPTION AGREEMENT,
dated as of January 20, 2015, as amended as of March 27, 2015 and as further amended as of June 1, 2015 (collectively, the “Option
Agreement”) by and among: K Laser; the other Persons who are listed as the shareholders
of EVEREST DISPLAY, INC., a corporation organized under the laws of Taiwan (“EDI”)
on Exhibit A (“Majority Shareholders”); the Participating
Minority Shareholders (as defined in the Purchase Agreement); Parent and Vert. K Laser, the other Persons who are listed as Majority
Shareholders and the Participating Minority Shareholders (as defined in the Purchase Agreement) are hereinafter collectively referred
to as the “Option Holders.”

 

1.Pursuant
to ARTICLE VIII of the Purchase Agreement and for the purposes of ARTICLES I, II, V, VI,
VIII and X of the Purchase Agreement, K Laser has been appointed as the Shareholders’ Representative (the “Shareholders’
Representative”) by the Selling Parties (as defined in the Purchase Agreement)). In addition, the Option Agreement
acknowledges that K Laser had been appointed as Shareholders Representative.

 

2.This
Agreement will acknowledge that all references in the Purchase Agreement and Option Agreement to “Boxlight Display, Inc.,
a Taiwan corporation” or the “Purchaser” be, and the same is hereby amended to replace Boxlight Display,
Inc. with the term” Boxlight Holdings, Ltd., a Taiwan corporation” and all references in the Purchase Agreement
and the Option Agreement to the “Purchaser” shall mean and include only Boxlight Holdings, Ltd. 

 

3.This
Agreement will further acknowledge that as at the date of execution of the original Purchase Agreement in January 2015, Logical
Choice Corporation (now Boxlight Corporation), a Nevada corporation did not own any of the share capital of Boxlight Holdings,
Ltd.

 

4.Section
1.5 of the Purchase Agreement is deleted in its entirety and is replaced by the following Section 1.5:

 

1.5
Closing. Upon the terms and subject to the conditions
set forth herein, the closing of the sale and purchase of the Subject Shares and related transactions under the Option Agreement
referred to herein (the “Closing”) will take place at 10:00 a.m., Taiwan
time, immediately after the consummation of a “Liquidity Event” defined herein and after satisfaction or, to
the extent permitted hereunder, waiver of all conditions to the Closing set forth herein (other than those conditions that by
their nature are to be satisfied at the Closing, but subject to the satisfaction or, to the extent permitted hereunder, waiver
of all such conditions), unless this Agreement has been terminated pursuant to its terms or unless another time or date is agreed
to in writing by the parties hereto. The Closing shall be held at the offices of White & Case, attorneys at law, and United
States counsel to the Everest Group and the Majority Shareholders in Palo Alto, California, unless another place is agreed to
in writing by the parties hereto, and the actual date of the Closing is hereinafter referred to as the “Closing
Date.” Notwithstanding the foregoing, if the Liquidity Event and the Closing do not occur prior to 30 September
2015, the Shareholders’ Representative shall have the option to terminate this Agreement unless otherwise agreed to between
the Shareholders’ Representative, the Purchaser and the Parent.

 

    	 

    	 

    

 

4.Section
1.4 of the Option Agreement is deleted in its entirety and is replaced by the following Section 1.4:

 

1.4Closings.Upon
the terms and subject to the conditions set forth herein, exercise of the Option and the closing of the issuance and sale and
the purchase of the Option Shares and related transactions under this Option Agreement (the “Closing”)
will take place at 10:00 a.m., Taiwan time, on a date which shall be simultaneous with the Closing Date of the transactions contemplated
by the Share Purchase Agreement. The Closing shall be held at the offices of White & Case, attorneys at law, and United States
counsel to the Everest Group and the Option Holders in Palo Alto, California, unless another place is agreed to in writing by
the parties hereto, and the actual date of the Closing is hereinafter referred to as the “Closing
Date.” Notwithstanding the foregoing, in no event shall the Closing of the exercise of the Option be earlier
than or later than the Closing Date under the Share Purchase Agreement, and, unless otherwise agreed to by the Company and the
“Shareholders Representative” (as defined in the Share Purchase Agreement), in no event shall such Closing
of the exercise of the Option be later than the September 30, 2015 “Outside Closing Date” under the Share Purchase
Agreement. 

 

5.All
references to the Liquidity Event and the Closing and the Outside Closing Date in both the Purchase Agreement
and the Option Agreement shall mean September 30, 2015.

 

6.Except
as amended by this Agreement all of the terms and conditions of the Purchase Agreement and the Option Agreement shall remain in
full force and effect and are incorporated herein by this reference as though more fully set forth herein at length.

 

**********************

 

Signature
page follow

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the Parties have caused their duly authorized representatives to execute this Agreement on the date first above
written.

 

	Parent:	BOXLIGHT CORPORATION
	 	(formerly, Logical Choice Corporation)

	 	 	 
	 	By:
    	/s/ Mark Elliott
	 	Name:	Mark
    Elliott
	 	Title:	CEO
	 	 	 
	Purchaser:	寶萊特科技股份有限公司
	 	(BOXLIGHT HOLDINGS, LTD.)
	 	 	 
	 	By:	/s/ Mark Elliott
	 	Name:	Mark
    Elliott
	 	Title:	Chairman
	 	 	 
	Vert:	VERT CAPITAL CORP.
	 	 	 
	 	By:	/s/ Michael
    Pope
	 	Name:	Michael
    Pope
	 	Title:	Managing
    Director
	 	 	 
	Majority
    Shareholders:	K
    LASER TECHNOLOGY INC.
	 	in its capacity as Majority Shareholder and for the purpose of ARTICLES I, II, V, X, VI, VIII and X, as Shareholders’ Representative
	 	 	 
	 	By:	/s/ Alex Kuo
	 	Name:	Alex
    Kuo
	 	Title:	Chairman

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00249-of-00352.parquet"}]]