Document:

AMENDMENT NO.2 TO PERSONAL EMPLOYMENT
AGREEMENT

 

This AMENDMENT NO.2 TO EMPLOYMENT AGREEMENT
(this “Amendment”) is made effective as of April 1, 2013 (the “Effective Date”), by
and between LabStyle Innovation Ltd., a company organized under the laws of the State of Israel (the “Company”)
and Motty Hershkowitz (the "Employee").

 

		WHEREAS	Employee and Company have entered into a Personal Employment
Agreement dated March 18, 2012, as amended on August 1, 2012 (the "Employment Agreement");
and

 

		WHEREAS	Employee has requested to amend certain terms and conditions set forth in the Employment Agreement
and the Company agreed as set forth herein.

 

NOW, THEREFORE, in consideration
of the respective agreements of the parties contained herein, the parties agree as follows:

 

		1.	Capitalized Terms. Any capitalized terms not defined in this Amendment shall have the meaning
ascribed to it in the Employment Agreement.

 

		2.	Amendments to the Employment Agreement.

 

The following Amendments to
the Employment Agreement shall be effective as of the Effective Date:

 

		2.1	Section 11 to the Employment Agreement (Social Benefits) shall be deleted and replaced in its entirety
to read as follows:

 

“11.Insurance and
Social Benefits. The Company will insure the Employee under a "Manager's Insurance Scheme" and/or a pension plan,
as per the Employee’s request (the "Insurance Scheme") as follows: (i) the Company will pay an amount equal
to 5% (five percent) of the Salary towards a fund for life insurance and pension; (ii) the Company will pay an amount of up to
2.5% (two percent and one half of a percent) of the Salary for a fund for the event of loss of working ability ("Ovdan Kosher
Avoda"); and (iii) the Company will pay an amount equal to 8 1/3% (eight percent and one third of a percent) of the Salary
towards a fund for severance compensation (the "Company’s Severance Contribution"). Similarly, at the beginning
of each month the Company shall deduct from the Salary an amount equal to 5% of the Salary for the preceding month, and shall pay
such amount as premium payable in respect of the provident compensation component of the Insurance Scheme. Additionally, the Company
together with the Employee will maintain an advanced study fund ("Keren Hishtalmut") and the Employee and the
Company shall contribute to such fund an amount equal to 2.5% (two percent and one half of a percent) and 7.5% (seven percent and
one half of a percent) of an amount of NIS 20,000, respectively. All of the Employee's aforementioned contributions shall be transferred
to the above referred to plans and funds by the Company by deducting such amounts from each monthly Salary payment.”

 

		2.2	Section 8 of Exhibit A to the Employment Agreement shall be amended that, as of the
Effective Date, the Employee’s monthly Salary shall be NIS 35,000.

 

		3.	No Other Amendments. Upon the execution hereof, this Amendment shall have the effect of
amending the Employment Agreement only in so far as required to give effect to the provisions herein. Unless otherwise specifically
provided for herein, all other terms and conditions of the Employment Agreement shall remain in full force and effect.

 

    	 

    	 

    

 

		4.	Entire Agreement. Upon execution, this Amendment shall be deemed an integral part of the
Employment Agreement, and the Agreement shall be read as one amended agreement for all purposes.

 

IN WITNESS WHEREOF, the Company
and the Employee have executed this Amendment effective as of the Effective Date.

 

 

	Employee:	 	The Company:
	 	 	 
	/s/ Motty Hershkowitz	 	/s/ Shilo Ben Zeev
	Motty Hershkowitz	 	Labstyle Innovation Ltd.
	 	 	
	 	 	By: 	Shilo Ben Zeev
	 	 	Title:	PresidentAMENDMENT TO CONSULTING AGREEMENT

 

This AMENDMENT TO
CONSULTING AGREEMENT (this “Amendment”) is made as of March 5, 2013 by and between LabStyle Innovation
Corp., a Delaware corporation (the “Company”), and SLD Capital Corp. (“Consultant”).

 

WHEREAS, the
Company and Consultant are parties to that certain Consulting Agreement, dated October 5, 2012 (the “Consulting Agreement”);
and

 

WHEREAS, the
Company and Consultant desire to amend the Consulting Agreement to provide for additional consideration to be provided to Consultant
thereunder.

 

NOW THEREFORE,
pursuant to Section 10 of the Consulting Agreement, and for good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the Company and Consultant hereby amend the Consulting Agreement as follows:

 

1.           Defined
Terms. All capitalized terms used but not defined herein shall have the meanings ascribed to them in the Consulting Agreement.

 

2.           Consideration.

 

(a)          Section
2(a) of the Consulting Agreement is hereby amended to provide that the issuance schedule for shares of Common Stock under Section
2(a) of the Consulting Agreement shall be accelerated such that, beginning for the month of service commencing February 1, 2013,
Consultant shall receive four (4) monthly issuances of 41,667 shares of Common Stock per month in arrears, with the final monthly
issuance to occur as of June 5, 2013 for the monthly period ending May 30, 2013. For the avoidance of doubt, Consultant shall continue
to provide Services through the conclusion of the Term but shall not be entiled to receive more shares of Common Stock than was
originally provided for under under Section 2(a) of the Consulting Agreement (total of 500,000 shares) and shall not be entitled
to receive shares of Common Stock after June 5, 2013 under Section 2(a) of the Consulting Agreement as amended hereby.

 

(b)          As
additional consideration for the Services to be provided under the Consulting Agreement through the conclusion of the Term, the
Company shall issue to Consultant, as of the date of this Amendment, two warrants to purchase shares of Common Stock in the forms
attached to this Amendment as Exhibit A and Exhibit B, respectively.

 

3.           No
Further Amendment. This Amendment constitutes the entire amendment to the Consulting Agreement agreed to by the parties, and
except as amended hereby, the Consulting Agreement remains unchanged and in full force and effect.

 

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

 

	LABSTYLE INNOVATIONS CORP.	 	SLD CAPITAL CORP.
	 	 	 
	By: 	/s/ Oren Fuerst	 	By: 	/s/ Steven B. Rosner
	 	Name: Oren Fuerst	 	 	Name: Steven B. Rosner
	 	Title: CEO	 	 	Title:

 

    	1BUSINESS FINANCING MODIFICATION AGREEMENT

 

This
Business Financing Modification Agreement is entered into as of July 3, 2013, by and between TRANSWITCH
CORPORATION (“Borrower”) and Bridge Bank, National Association (“Lender”).

 

1.            DESCRIPTION OF EXISTING INDEBTEDNESS:
Among other indebtedness which may be owing by Borrower to Lender, Borrower is indebted to Lender pursuant to, among other documents,
an Amended and Restated Business Financing Agreement, dated April 4, 2011 by and between Borrower and Lender, as may be amended
from time to time (the “Business Financing Agreement”). Capitalized terms used without definition herein shall have
the meanings assigned to them in the Business Financing Agreement.

 

Hereinafter, all indebtedness owing by
Borrower to Lender shall be referred to as the “Indebtedness” and the Business Financing Agreement and any and all
other documents executed by Borrower in favor of Lender shall be referred to as the “Existing Documents.”

 

2.            DESCRIPTION OF CHANGE IN TERMS.

 

              A.             Modification(s) to Business
Financing Agreement:

 

		i)	The following subsection is hereby inserted into Section 2.2 entitled “Fees”:

 

		(f)	Fee in Lieu of Warrant. Borrower shall pay to
Lender the Fee in Lieu of Warrant as follows: (i) $25,000 due upon execution of the Business Financing Modification Agreement
dated July 3, 2013, and (ii) $50,000 due upon the earliest of (x) the sale of substantially all of the assets of Borrower, (y)
receipt of the Initial Cash Infusion, or (z) termination of this Business Financing Agreement.

 

		ii)	The following subsection of Section 4.8 is hereby amended as follows:

 

		(a)	Within 90 days of the fiscal year end, the annual financial statements of Borrower, certified and
dated by an authorized financial officer. These financial statements must be audited (with an opinion satisfactory to the Lender)
by a Certified Public Accountant acceptable to Lender. The statements shall be prepared on a consolidated basis.

 

		iii)	Section 4.9 is hereby amended as follows:

 

		4.9	Maintain all depository and operating accounts with Lender and, in the case of any investment accounts
not maintained with Lender, grant to Lender a first priority perfected security interest in and “control” (within the
meaning of Section 9104 of the California Uniform Commercial Code) of such deposit account pursuant to documentation acceptable
to Lender.

 

		iv)	Section 4.11 is hereby amended in its entirety as follows:

 

		4.11	Maintain Borrower's financial condition as follows using generally accepted accounting principles
consistently applied and used consistently with prior practices (except to the extent modified by the definitions herein):

 

(a)                
Asset Coverage Ratio as follows: (i) 1.50 to 1.00 for the periods ending June 30, 2013 and July 31, 2013, and (ii) 2.00 to 1.00
for the period ending August 31, 2013, and for each month thereafter.

 

(b)                
Revenues and net income/net loss shall not negatively deviate by more than 25% of Borrower’s projected revenues and
net income/net loss, to be measured quarterly, beginning with the quarter ending September 30, 2013. Lender agrees that the initial
evaluation will be made with the board-approved projections provided to Lender on May 17, 2013.

 

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(c)                
On or before August 15, 2013, Borrower shall raise at least $2,500,000 in equity or subordinated debt, from new or existing
investors (“Initial Cash Infusion”), and on or before December 31, 2013, Borrower shall raise at least $2,500,000 in
additional equity or subordinated debt from new or existing investors (the “Additional Cash Infusion”).

 

		v)	The following defined terms in Section 12.1 entitled “Definitions” are hereby
added, amended, or restated as follows:

 

“Due Diligence Fee”
means a payment of an annual fee equal to $600, due upon each anniversary of the Business Financing Agreement so long as any Advance
is outstanding or available hereunder.

 

“Fee in Lieu of Warrant”
means a payment of a fee equal to $75,000.

 

“Finance Charge Percentage”
means a rate per year equal to the Prime Rate plus 1.75 percentage points plus an additional 5.00 percentage points
during any period that an Event of Default has occurred and is continuing.

 

“Maintenance Fee”
means the amount equal to 0.25 percentage points per month of the ending daily Account Balance for the relevant period.

 

“Maturity Date”
means July 3, 2014, or such earlier date as Lender shall have declared the Obligations immediately due and payable pursuant to
Section 7.2.

 

		vi)	The following clause to subsection (j) of the defined term “Eligible Receivable”
in Section 12.1 entitled “Definitions” is hereby amended as follows:

 

(i) the Receivable is not paid
within 90 days from its invoice date;

 

3.            CONSISTENT CHANGES. The Existing
Documents are each hereby amended wherever necessary to reflect the changes described above.

 

4.            PAYMENT
OF FEES. Borrower shall pay Lender the Facility Fee in the amount of $50,000, the Due Diligence Fee in the amount of $600,
and the first installment of the Fee in Lieu of Warrant in the amount of $25,000, plus all out-of-pocket expenses. 

 

5.            NO
DEFENSES OF BORROWER/GENERAL Release. Borrower agrees that, as of this date,
it has no defenses against the obligations to pay any amounts under the Indebtedness. Each of Borrower and Guarantor (each, a “Releasing
Party”) acknowledges that Lender would not enter into this Business Financing Modification Agreement without Releasing Party’s
assurance that it has no claims against Lender or any of Lender’s officers, directors, employees or agents. Except for the
obligations arising hereafter under this Business Financing Modification Agreement, each Releasing Party releases Lender, and each
of Lender’s and entity’s officers, directors and employees from any known or unknown claims that Releasing Party now
has against Lender of any nature, including any claims that Releasing Party, its successors, counsel, and advisors may in the future
discover they would have now had if they had known facts not now known to them, whether founded in contract, in tort or pursuant
to any other theory of liability, including but not limited to any claims arising out of or related to the Agreement or the transactions
contemplated thereby. Releasing Party waives the provisions of California Civil Code section 1542, which states:

 

A GENERAL RELEASE DOES NOT EXTEND TO
CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF
KNOWN BY HIM OR HER, MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.

 

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The provisions, waivers and releases set
forth in this section are binding upon each Releasing Party and its shareholders, agents, employees, assigns and successors in
interest. The provisions, waivers and releases of this section shall inure to the benefit of Lender and its agents, employees,
officers, directors, assigns and successors in interest. The provisions of this section shall survive payment in full of the Obligations,
full performance of all the terms of this Business Financing Modification Agreement and the Agreement, and/or Lender’s actions
to exercise any remedy available under the Agreement or otherwise.

 

6.            CONTINUING VALIDITY. Borrower
understands and agrees that in modifying the existing Indebtedness, Lender is relying upon Borrower’s representations, warranties,
and agreements, as set forth in the Existing Documents. Except as expressly modified pursuant to this Business Financing Modification
Agreement, the terms of the Existing Documents remain unchanged and in full force and effect. Lender’s agreement to modifications
to the existing Indebtedness pursuant to this Business Financing Modification Agreement in no way shall obligate Lender to make
any future modifications to the Indebtedness. Nothing in this Business Financing Modification Agreement shall constitute a satisfaction
of the Indebtedness. It is the intention of Lender and Borrower to retain as liable parties all makers and endorsers of Existing
Documents, unless the party is expressly released by Lender in writing. No maker, endorser, or guarantor will be released by virtue
of this Business Financing Modification Agreement. The terms of this paragraph apply not only to this Business Financing Modification
Agreement, but also to any subsequent Business Financing modification agreements.

 

7.            CONDITIONS. The effectiveness
of this Business Financing Modification Agreement is conditioned upon payment of the Facility Fee, the Due Diligence Fee, and the
first installment of the Fee in Lieu of Warrant.

 

8.            NOTICE OF FINAL AGREEMENT.
BY SIGNING THIS DOCUMENT EACH PARTY REPRESENTS AND AGREES THAT: (A) THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN
THE PARTIES, (B) THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES, AND (C) THIS WRITTEN AGREEMENT MAY NOT BE CONTRADICTED
BY EVIDENCE OF ANY PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OR UNDERSTANDINGS OF THE PARTIES.

 

9.            COUNTERSIGNATURE. This Business
Financing Modification Agreement shall become effective only when executed by Lender and Borrower.

 

	BORROWER:	 	LENDER:
	 	 	 	 	 
	TRANSWITCH CORPORATION	 	BRIDGE BANK, NATIONAL ASSOCIATION
	 	 	 	 	 
	By:	/s/ Robert Bosi	 	By:	/s/ Anthony Crisci
	 	 	 	 	 
	Name:  	Robert Bosi	 	Name:  	Anthony Crisci
	 	 	 	 	 
	Title:	Chief Financial Officer	 	Title:	Vice President

 

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