Document:

Blue Sphere Corporation 10-Q

 

Exhibit 10.4

 

April 4, 2017

 

Eilon Natan

Director of Investments

JMJ Financial

 

 

Re: Extension of Certain Deadlines in
Promissory Note and Common Stock Purchase Warrants

 

Dear Eilon:

 

This letter agreement (this “Letter
Agreement”) concerns the Promissory Note issued by Blue Sphere Corporation (“Blue Sphere”) to JMJ
Financial (“JMJ”) on October 24, 2016, as amended on March 1, 2017 and March 14, 2017, in the Principal Sum
of up to $1,579,500 (the “Note”) and (a) the three Common Stock Purchase Warrants issued by Blue Sphere to JMJ
on October 24, 2016, December 20, 2016 and February 14, 2017, numbered as W-10212015, W-12202016 and W-02142017, respectively,
and all three as amended on March 1, 2017, and (b) the Common Stock Purchase Warrant issued by Blue Sphere to JMJ on March 14,
2017, numbered as W-03142017 (all four such Common Stock Purchase Warrants, collectively the “Warrants” and
each, a “Warrant”). All capitalized terms used but not defined herein shall have the meaning given to such term
in the Note or Warrants, as applicable.

 

Section 6 of the Note and Section 1.11 the
Warrants each set forth, in identical form, the following specified events of default:

 

... or (xxiii) the Issuer fails
to obtain from Nasdaq or NYSE by March 31, 2017 conditional approval of the listing of the Issuer’s common stock on The Nasdaq
Capital Market or NYSE-MKT subject only to completion of the Public Offering pursuant to the Registration Statement and to the
Issuer’s common stock maintaining the minimum price requirements prior to uplisting;

 

On January 20, 2017, Blue Sphere filed an application
to have its common stock listed with The Nasdaq Capital Market (“NASDAQ”), and as of the date hereof, has provided
responses to several comments received from NASDAQ. As of the date hereof, the Company has not received NASDAQ’s conditional
approval, but has achieved the other timelines set forth in Section 6 of the Note and Section 1.11 the Warrants. The Company anticipates
receiving NASDAQ’s conditional approval soon, but presently the dates set forth in Section 6(xxiii) of the Note and Section
1.11(xxiii) of the Warrants do not realistically reflect the current timeline of the Public Offering. Therefore, the undersigned
parties hereby agree to the following, effective as of March 31, 2017:

 

		(a)	Section 6(xxiii) of the Note and Section 1.11(xxiii) of the Warrants shall hereinafter be deleted
and replaced with the following text:

 

(xxiii) the Issuer fails to obtain
from Nasdaq or NYSE by April 28, 2017 conditional approval of the listing of the Issuer’s common stock on The Nasdaq Capital
Market or NYSE-MKT subject only to completion of the Public Offering pursuant to the Registration Statement and to the Issuer’s
common stock maintaining the minimum price requirements prior to uplisting;

 

    	 

     

    

 

 

		(b)	The Investor conditionally waives the defaults for the Issuer's failure to meet the original dates
set forth in Section 6(xxiii) of the Note and Section 1.11(xxiii) of the Warrants, but the Investor does not waive any damages,
fees, penalties, liquidated damages, or other amounts or remedies otherwise resulting from such defaults (which damages, fees,
penalties, liquidated damages, or other amounts or remedies the Investor may choose in the future to assess, apply or pursue in
its sole discretion) and the Investor's conditional waiver is conditioned on the Issuer's not being in default of and not breaching
any term of the Note or the Warrants or any other Transaction Documents (as defined in the Securities Purchase Agreement Document
SPA-10212016 between the Issuer and the Investor) at any time subsequent to the date of this Letter Agreement (if the Issuer triggers
an event of default or breaches any term of the Note, the Warrants, or the Transaction Documents at any time subsequent to the
date of this Letter Agreement, the Investor may issue a notice of default for the Issuer's failure to meet the original dates set
forth in Section 6(xxiii) of the Note and Section 1.11(xxiii) of the Warrants).

 

Please indicate your acceptance of the foregoing
terms and conditions by signing and returning this Letter Agreement to me.

 

 

	 	Very truly yours,
	 	 
	 	 
	 	/s/ Shlomi Palas
	 	Shlomi Palas
	 	Chief Executive Officer
	 	Blue Sphere Corporation

 

 

The undersigned hereby agrees to be bound
by this Letter Agreement.

 

INVESTOR:

 

 

	/s/ JMJ Financial	 
	JMJ Financial / Its Principal	 
	Date:  April 4, 2017Blue Sphere Corporation 10-Q

 

Exhibit 10.5

 

AMENDMENT #3

TO THE SECURITIES PURCHASE AGREEMENT AND

TO THE $1,579,500 PROMISSORY NOTE

 

This Amendment #3, dated April 13, 2017 (this
“Amendment”), is by and between Blue Sphere Corporation, a Nevada corporation (the “Issuer”)
and JMJ Financial (the “Investor”) (referred to collectively herein as the “Parties”).

 

WHEREAS, the Issuer and the Investor entered
into a Securities Purchase Agreement Document SPA-10212016 (the “SPA”) dated as of October 24, 2016, pursuant
to which the Issuer issued to the Investor a $1,053,000 Promissory Note (the “Note”), a Warrant, and Origination
Shares (All capitalized terms not otherwise defined herein shall have the meanings given such terms in the SPA).

 

WHEREAS, the Issuer and the Investor previously
entered into Amendment #1 to the SPA and the Note dated February 15, 2017;

 

WHEREAS, the Issuer and the Investor previously
entered into a Letter Agreement dated March 1, 2017 extending certain deadlines in the Note and in the Warrants issued under the
SPA;

 

WHEREAS, the Issuer and the Investor previously
entered into Amendment #2 to the SPA and the Note dated March 14, 2017; and

 

WHEREAS, the Issuer and the Investor previously
entered into a second Letter Agreement dated April 4, 2017 further extending certain deadlines in the Note and in the Warrants
issued under the SPA.

 

NOW, THEREFORE, the Issuer and the Investor
agree to amend the SPA and the Note as follows:

 

1.       

Extension
of Maturity Date. In the sentence in the Note that states “The Maturity Date is the earlier of April 15, 2017 or the
third business day after the closing of the Public Offering,” the date of April 15, 2017 shall be replaced with the date
of May 1, 2017.

 

2.       

Extension
of Origination Shares Dates. The references to the date of April 15, 2017 in Sections 1.3.1 and 1.3.2 of the SPA shall be replaced
with the date of May 1, 2017.

 

3.       

Conditional
Waiver of Default. The Investor conditionally waives the defaults for the Issuer’s failure to meet the original Maturity
Date of the Note and delivery date for the Origination Shares, but the Investor does not waive any damages, fees, penalties, liquidated
damages, or other amounts or remedies otherwise resulting from such defaults (which damages, fees, penalties, liquidated damages,
or other amounts or remedies the Investor may choose in the future to assess, apply or pursue in its sole discretion) and the Investor’s
conditional waiver is conditioned on the Issuer’s not being in de fault of and not breaching any term of the Note or the
SPA or any other Transaction Documents at any time subsequent to the date of this Amendment (if the Issuer triggers an event of
default or breaches any term of the Note, the SPA, or the Transaction Documents at any time subsequent to the date of this Amendment,
the Investor may issue a notice of default for the Issuer’s failure to meet the original Maturity Date of the Note and delivery
date of the Origination Shares.

 

ALL OTHER TERMS AND CONDITIONS OF THE SPA AND THE NOTE,
AS PREVIOUSLY AMENDED, REMAIN IN FULL FORCE AND EFFECT.

 

Please indicate acceptance and approval of
this Amendment by signing below:

 

 

	/s/ Shlomi Palas	 	/s/ JMJ Financial
	Shlomi Palas	 	JMJ Financial
	Blue Sphere Corporation	 	Its Principal
	Chief Executive Officer	 	 

 

 

[Amendment #3 Signature Page]Blue Sphere Corporation 10-Q

 

Exhibit 10.6

 

AMENDMENT #4

TO THE SECURITIES PURCHASE AGREEMENT

TO THE $1,579,500 PROMISSORY NOTE

AND TO THE COMMON STOCK PURCHASE WARRANTS

 

This Amendment #4, dated April 28, 2017 (this
“Amendment”), is by and between Blue Sphere Corporation, a Nevada corporation (the “Issuer”) and
JMJ Financial (the “Investor”) (referred to collectively herein as the “Parties”).

 

WHEREAS, the Issuer and the Investor entered
into a Securities Purchase Agreement Document SPA-10212016 (the “SPA”) dated as of October 24, 2016, pursuant to which
the Issuer issued to the Investor a $1,053,000 Promissory Note (the “Note”), a Warrant, and Origination Shares (All
capitalized terms not otherwise defined herein shall have the meanings given such terms in the SPA).

 

WHEREAS, the Issuer and the Investor previously
entered into Amendment #1 to the SPA and the Note dated February 15, 2017;

 

WHEREAS, the Issuer and the Investor previously
entered into a Letter Agreement dated March 1, 2017 extending certain deadlines in the Note and in the Warrants issued under the
SPA;

 

WHEREAS, the Issuer and the Investor previously
entered into Amendment #2 to the SPA and the Note dated March 14, 2017;

 

WHEREAS, the Issuer and the Investor previously
entered into a second Letter Agreement dated April 4, 2017 further extending certain deadlines in the Note and in the Warrants
issued under the SPA;

 

WHEREAS, the Issuer and the Investor previously
entered into Amendment #3 to the SPA and the Note dated April 4, 2017 extending the Maturity Date of the Note and the date for
delivery of the Origination Shares; and

 

WHEREAS, the Issuer issued additional common
stock purchase warrants to the Investor on December 20, 2016, February 14, 2017, March 14, 2017, and April 13, 2017 (such warrants,
plus the Warrant, all as previously amended, the “Warrants”).

 

NOW, THEREFORE, the Issuer and the Investor
agree to amend the SPA, the Note, and the Warrants as follows:

 

1. Extension
of Maturity Date. In the sentence in the Note (as previously amended) that states “The Maturity Date is the earlier of
May 1, 2017 or the third business day after the closing of the Public Offering,” the date of May 1, 2017 shall be replaced
with the date of May 19, 2017.

 

 

2. Extension
of Origination Shares Dates. The references to the date of May 1, 2017 in Sections 1.3.1 and 1.3.2 of the SPA (as previously
amended) shall be replaced with the date of May 19, 2017.

 

 

3. Extension
of Nasdaq Approval Date. Section 6(xxiii) of the Note and Section 1.11(xxiii) of the Warrants shall hereinafter be deleted and
replaced with the following text: “(xxiii) the Issuer fails to obtain from Nasdaq or NYSE by May 19, 2017 conditional approval
of the listing of the Issuer’s common stock on The Nasdaq Capital Market or NYSE-MKT subject only to completion of the Public
Offering pursuant to the Registration Statement and to the Issuer’s common stock maintaining the minimum price requirements
prior to uplisting;”.

 

    	 

     

    

 

4. Conditional
Waiver of Default. The Investor conditionally waives the defaults for the Issuer’s failure to meet the previously amended
Maturity Date of the Note, delivery date for the Origination Shares, and Nasdaq approval deadlines, but the Investor does not waive
any damages, fees, penalties, liquidated damages, or other amounts or remedies otherwise resulting from such defaults (which damages,
fees, penalties, liquidated damages, or other amounts or remedies the Investor may choose in the future to assess, apply or pursue
in its sole discretion) and the Investor’s conditional waiver is conditioned on the Issuer’s not being in default of
and not breaching any term of the Note or the SPA or any other Transaction Documents at any time subsequent to the date of this
Amendment (if the Issuer triggers an event of default or breaches any term of the Note, the SPA, or the Transaction Documents at
any time subsequent to the date of this Amendment, the Investor may issue a notice of default for the Issuer’s failure to
meet the original Maturity Date of the Note, delivery date of the Origination Shares, or Nasdaq approval deadlines.

 

 

ALL OTHER TERMS AND CONDITIONS OF
THE SPA, THE NOTE, AND THE WARRANTS, AS PREVIOUSLY AMENDED, REMAIN IN FULL FORCE AND EFFECT.

 

Please indicate acceptance and approval of
this Amendment by signing below:

 

 

	/s/ Shlomi Palas	 	/s/ JMJ Financial
	Shlomi Palas	 	JMJ Financial
	Blue Sphere Corporation	 	Its Principal
	Chief Executive Officer	 	 

 

 

 

[Amendment #4 Signature Page]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00271-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00271-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00271-of-00352.parquet"}]]