Document:

exhibit_4-16.htm

Exhibit 4.16

 

AMENDMENT TO SECURITIES PURCHASE AGREEMENT

 

THIS AMENDMENT (this “Amendment”) to the SPA (defined below) is entered into as of the 10 day of June, 2013 (the “Effective Date”), between Elbit Vision Systems Ltd., a company organized and existing under the laws of the State of Israel (the “Company”), and Mr. Avi Gross, ID number 056398464  (the “Buyer”).

 

WHEREAS, the Company and the Buyer entered into a Securities Purchase Agreement dated December 10, 2012 (the “SPA”); and

 

WHEREAS, the Company and the Buyer desire to amend the SPA on the terms and conditions more fully set forth herein.

 

NOW, THEREFORE, it is hereby agreed as follows:

 

1.       In WHEREAS B of the SPA the words "in whole or in part for up to 3,157,895" is hereby replaced with the words "into 3,529,412".

 

2.       In Section 1(b) of the SPA, the words "the exercise price of the Second Warrant Shares shall be equal to nine and one half ($0.095) cents for each Warrant Share exercised under the Second Warrants, as provided in the Warrant Agreements" shall be replaced by the words, "the exercise price of the Second Warrant Shares shall be equal to eight and one half ($0.085) cents for each Warrant Share exercised under the Second Warrants, as provided in the Warrant Agreements".

 

3.       On section 4(iii) of the SPA the words "issuance up to 11,145,511" is hereby replaced with the words "issuance up to 11,764,706".

 

4.       The terms of this Amendment will be effective from the Effective Date.

 

4.       All capitalized, otherwise undefined terms contained herein shall bear the same meaning as ascribed to such terms in the SPA.

 

5.       Except as specifically amended herein, all other terms and conditions of the SPA remain in full force and effect.

 

6.       This Amendment and the amendments to the Convertible Loan Agreement, the First Warrant and the Second Warrant, which are attached hereto as Annex A, have been approved by: (i) the Board of Directors of the Company in its resolution dated 6 June, 2013, attached hereto as Annex B, and (ii) Bank Leumi Le-Israel Ltd. as set forth in its letter of consent attached hereto as Annex C.

 

7.       This Amendment shall be construed in accordance with, and governed in all respects by the laws of the State of Israel, without regard to principles of conflict of laws. Any dispute arising under or in relation to this Amendment shall be resolved exclusively in the competent court for Tel Aviv-Jaffa district, and each of the parties hereby irrevocably submits to the exclusive jurisdiction of such court.

 

8.       This Amendment may be executed in any number of counterparts, each of which, including copies digitally scanned and transmitted electronically, shall be deemed an original and enforceable against the parties actually executing such counterpart, and all of which together shall constitute one and the same instrument.

 

[Signatures Page Immediately Follows]

 

  

  

  

 

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly authorized officer, and the Buyer has executed this Amendment as of the day and year first above written.

 

	
COMPANY

 

	 	  	
BUYER

	 
	
Elbit Vision Systems Ltd.

Name: ______________

Title: _______________

	 	  	
Avi Gross

	 

 

2exhibit_4-17.htm

Exhibit 4.17

AMENDMENT TO CONVERTIBLE LOAN AGREEMENT

 

THIS AMENDMENT (this “Amendment”) to the Loan Agreement (defined below) is entered into as of the 10th day of June, 2013 (the “Effective Date”), between Elbit Vision Systems Ltd., a company organized and existing under the laws of the State of Israel (the “Company”), and Mr. Avi Gross, ID number 056398464  (the “Lender”).

 

WHEREAS, the Company and the Lender entered into a Convertible Loan Agreement dated December 10, 2012 (the “Loan Agreement”); and

 

WHEREAS, the Company and the Lender desire to amend the Loan Agreement on the terms and conditions more fully set forth herein.

 

NOW, THEREFORE, it is hereby agreed as follows:

 

1.       Section 2.1 of the Loan Agreement is hereby deleted and replaced in its entirety by the following:

 

“2.1 The Loan may be converted (in whole and not in part), at the sole discretion of the Lender by providing a written notice to the Company at any time until the date falling six months from the date hereof (the “Conversion Deadline”), into ordinary shares of the Company (“Ordinary Shares”) at a price of $0.085 per Ordinary Share (the “Conversion Price”).”

 

2.       Any references in the Loan Agreement to partial conversion of the Loan shall be of no force or effect.

 

3.       The terms of this Amendment will be effective from the Effective Date.

 

4.       All capitalized, otherwise undefined terms contained herein shall bear the same meaning as ascribed to such terms in the Loan Agreement.

 

5.       Except as specifically amended herein, all other terms and conditions of the Loan Agreement remain in full force and effect.

 

6.       This Amendment shall be construed in accordance with, and governed in all respects by the laws of the State of Israel, without regard to principles of conflict of laws. Any dispute arising under or in relation to this Amendment shall be resolved exclusively in the competent court for Tel Aviv-Jaffa district, and each of the parties hereby irrevocably submits to the exclusive jurisdiction of such court.

 

7.       This Amendment may be executed in any number of counterparts, each of which, including copies digitally scanned and transmitted electronically, shall be deemed an original and enforceable against the parties actually executing such counterpart, and all of which together shall constitute one and the same instrument.

 

[Signatures Page Immediately Follows]

 

  

  

  

 

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly authorized officer, and the Lender has executed this Amendment as of the day and year first above written.

 

	
COMPANY

 

	 	  	
LENDER

	 
	
Elbit Vision Systems Ltd.

Name: ______________

Title: _______________

	 	  	
Avi Gross

	 

 

2exhibit_4-18.htm

Exhibit 4.18

 

AMENDMENT TO WARRANT

 

THIS AMENDMENT (this “Amendment”) to the Warrant (as defined below) is entered into as of this 10th day of June, 2013, between Elbit Vision Systems Ltd., a company organized and existing under the laws of the State of Israel (the “Company”), and Mr. Avi Gross, ID number 056398464 (the “Lender”).

 

WHEREAS, the Company and the Lender entered into a Convertible Loan Agreement dated December 10, 2012 (the "Loan Agreement"), pursuant to which the Lender loaned the Company $300,000 (the "Loan Amount") convertible into the Company's Ordinary Shares, at price per share of $0.095 (the "Price Per Share");

 

WHEREAS, the Company and the Lender have entered into an Amendment to the Loan Agreement dated as of the date hereof (the "Loan Amendment"), pursuant to which the Company and Lenders agreed to reduce the Price Per Share to $0.085 per Ordinary Share, subject to the Lender converting the Loan Amount in full;

 

WHEREAS, the Company and the Lender entered into that certain warrant to purchase Ordinary Shares of the Company exercisable for up to $200,000 of the Company's Ordinary Shares, dated December 10, 2012 (the “Warrant”); and

 

WHEREAS, the Company and the Lender desire to amend the Warrant on the terms and conditions more fully set forth herein.

 

NOW, THEREFORE, it is hereby agreed as follows:

 

1.       Section 1(b) of the Warrant is hereby deleted and replaced in its entirety by the following:

 

“b. EXERCISE PRICE. For purposes of this Warrant, "EXERCISE PRICE" means $0.085 U.S Dollars, subject to adjustment as provided herein.”

 

2.       This Amendment will go into effect only upon the conversion of the Loan Amount in full in accordance with the terms of the Loan Amendment.

 

4.       All capitalized, otherwise undefined terms contained herein shall bear the same meaning as ascribed to such terms in the Warrant.

 

5.       Except as specifically amended herein, all other terms and conditions of the Warrant remain in full force and effect.

 

6.       This Amendment shall be construed in accordance with, and governed in all respects by the laws of the State of Israel, without regard to principles of conflict of laws. Any dispute arising under or in relation to this Amendment shall be resolved exclusively in the competent court for Tel Aviv-Jaffa district, and each of the parties hereby irrevocably submits to the exclusive jurisdiction of such court.

 

7.       This Amendment may be executed in any number of counterparts, each of which, including copies digitally scanned and transmitted electronically, shall be deemed an original and enforceable against the parties actually executing such counterpart, and all of which together shall constitute one and the same instrument.

 

[Signatures Page Immediately Follows]

 

  

  

  

 

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly authorized officer, and the Lender has executed this Amendment as of the day and year first above written.

 

	
COMPANY

 

	 	  	
LENDER

	 
	
Elbit Vision Systems Ltd.

Name: ______________

Title: _______________

	 	  	
Avi Gross

	 

 

2exhibit_4-19.htm

Exhibit 4.19

 

AMENDMENT TO WARRANT

 

THIS AMENDMENT (this “Amendment”) to the Warrant (as defined below) is entered into as of this 10th day of June, 2013, between Elbit Vision Systems Ltd., a company organized and existing under the laws of the State of Israel (the “Company”), and Mr. Avi Gross, ID number 056398464 (the “Lender”).

 

WHEREAS, the Company and the Lender entered into a Convertible Loan Agreement dated December 10, 2012 (the "Loan Agreement"), pursuant to which the Lender loaned the Company $300,000 (the "Loan Amount") convertible into the Company's Ordinary Shares, at price per share of $0.095 (the "Price Per Share");

 

WHEREAS, the Company and the Lender have entered into an Amendment to the Loan Agreement dated as of the date hereof (the "Loan Amendment"), pursuant to which the Company and Lenders agreed to reduce the Price Per Share to $0.085 per Ordinary Share, subject to the Lender converting the Loan Amount in full;

 

WHEREAS, the Company and the Lender entered into that certain warrant to purchase Ordinary Shares of the Company exercisable for up to $1,000,000 of the Company's Ordinary Shares, dated December 10, 2012 (the “Warrant”); and

 

WHEREAS, the Company and the Lender desire to amend the Warrant on the terms and conditions more fully set forth herein.

 

NOW, THEREFORE, it is hereby agreed as follows:

 

1.        In the definition of EXPIRATION DATE under Section 14 of the Warrant, the words “February 5, 2015” are hereby replaced with “December 31, 2015”.

 

2.       This Amendment will go into effect only upon the conversion of the Loan Amount in full in accordance with the terms of the Loan Amendment.

 

4.       All capitalized, otherwise undefined terms contained herein shall bear the same meaning as ascribed to such terms in the Warrant.

 

5.       Except as specifically amended herein, all other terms and conditions of the Warrant remain in full force and effect.

 

6.       This Amendment shall be construed in accordance with, and governed in all respects by the laws of the State of Israel, without regard to principles of conflict of laws. Any dispute arising under or in relation to this Amendment shall be resolved exclusively in the competent court for Tel Aviv-Jaffa district, and each of the parties hereby irrevocably submits to the exclusive jurisdiction of such court.

 

7.       This Amendment may be executed in any number of counterparts, each of which, including copies digitally scanned and transmitted electronically, shall be deemed an original and enforceable against the parties actually executing such counterpart, and all of which together shall constitute one and the same instrument.

 

[Signatures Page Immediately Follows]

 

  

  

  

 

IN WITNESS WHEREOF, the Company has caused this Amendment to be executed by its duly authorized officer, and the Lender has executed this Amendment as of the day and year first above written.

 

	
COMPANY

 

	 	  	
LENDER

	 
	
Elbit Vision Systems Ltd.

Name: ______________

Title: _______________

	 	  	
Avi Gross

	 

 

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