Document:

EXHIBIT 10.17

 

 

 

AMENDMENT TO

 

SUBSCRIPTION AGREEMENT

 

CONVERTIBLE PROMISSORY NOTES

 

This Amendment to
Subscription Agreement for Convertible Promissory Notes (this “Amendment”) is made as of February 28, 2014, by and among Nano Vibronix, Inc., a Delaware corporation (the “Company”), and the persons who
execute this Amendment (the “Majority Noteholders”).

 

W I T N E S S E T H :

 

WHEREAS, the Company
and the investors in the Company’s Convertible Promissory Notes convertible into shares of Series B-1 Participating Convertible
Preferred Stock (the “Series B-1 Notes”) are parties to that certain Subscription Agreement for Convertible
Promissory Notes, dated November 22, 2011 (the “Subscription Agreement”); and

 

WHEREAS, pursuant to
Section 4.8 of the Subscription Agreement, the Subscription Agreement may be amended with the written consent of the Company and
the holders of a majority of the aggregate then-outstanding principal amount of the Series B-1 Notes and any such amendment shall
be binding upon each holder of any Series B-1 Notes at the time outstanding and the Company; and

 

WHEREAS, the Majority
Noteholders hold a majority of the aggregate currently-outstanding principal amount of the Series B-1 Notes; and

 

WHEREAS, pursuant to
Section 5.a of the Series B-1 Notes, the Series B-1 Notes may be amended as provided in the Subscription Agreement; and

 

WHEREAS, the Company
and the Majority Noteholders desire to amend the Subscription Agreement to provide that the Series B-1 Notes may be amended with
the written consent of the Company and the holders of a majority of the aggregate then-outstanding principal amount of the Series
B-1 Notes;

 

NOW, THEREFORE, in
consideration of the mutual promises and covenants set forth herein, the parties hereto, intending legally to be bound, hereby
agree as follows:

 

		1.	The following is hereby added after the first sentence
of Section 4.8 of the Subscription Agreement:

 

			Any provision of the Notes may be amended with the written consent of the Company and the
                                                                                 holders of a majority of the aggregate then-outstanding principal amount of the Notes, which amendment shall be binding on
                                                                                 the holders of all Notes regardless of whether or not they consented to such amendment.

 

		2.	This Amendment shall be effective upon its execution
by the Company and the Majority Noteholders.

 

 

 

 

    	 

    	 

    

 

 

 

 

		3.	This Amendment may be executed in any number of counterparts,
all of which taken together shall constitute one and the same agreement, and any of the parties hereto may execute this Amendment
by signing any such counterpart. Delivery of an executed counterpart of a signature page to this Amendment by telecopier or by
electronic mail (in portable document format (“PDF”)) shall be effective as delivery of a manually executed counterpart
of this Amendment.

  

		4.	This Amendment shall be governed by and construed according
to the laws of the State of Delaware, without regard to the conflict of laws provisions thereof.

 

[Signature page follows] 

 

 

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IN WITNESS WHEREOF
the parties have signed this Amendment as of the date first written above.

 

 

	NANO VIBRONIX, INC.	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:  	/s/ Harold Jacob	 	 
	 	Name:  	Harold Jacob	 	 
	 	Title: 	Chief Executive Officer	 	 

 

 

HOLDERS

 

/s/ Horn Grandchildren 2004 Trust

/s/ Robin Press

/s/ Joseph Bronner

/s/ Ira Rabinowitz

/s/ Richard Grossman

/s/ Menachem Lifshitz

/s/ CollabRx, Inc. (f/k/a Tegal Corp.)

/s/ Aaron Martin

/s/ Harborview Master Fund LP

/s/ Globis International Investments, LLC

/s/ Globis Capital Partners, LP

/s/ Globis Overseas Fund, Ltd.

/s/ Harold Jacob

/s/ GCK Holdings Corp

/s/ Ellis International LP

/s/ Charles Alpert

/s/ Steve ZullerEXHIBIT 10.18

 

 

AMENDMENT TO

 

CONVERTIBLE PROMISSORY NOTES

 

This Amendment to
Convertible Promissory Notes (this “Amendment”) is made as of February 28, 2014, by and among Nano
Vibronix, Inc., a Delaware corporation (the “Company”), and the persons who execute this Amendment (the
“Majority Noteholders”).

 

W I T N E S S E T H :

 

WHEREAS, the Company
has certain outstanding Convertible Promissory Notes convertible into shares of Series B-1 Participating Convertible Preferred
Stock (the “Series B-1 Notes”); and

 

WHEREAS, the Company
and the investors in the Series B-1 Notes are parties to that certain Subscription Agreement for Convertible Promissory Notes,
dated November 22, 2011, as amended by that certain Amendment to Subscription Agreement for Convertible Promissory Notes, dated
as of the date hereof (the “Subscription Agreement”); and

 

WHEREAS, pursuant to
Section 5.a of the Series B-1 Notes, the Series B-1 Notes may be amended as provided in the Subscription Agreement; and

 

WHEREAS, pursuant to
Section 4.8 of the Subscription Agreement, the Series B-1 Notes may be amended with the written consent of the Company and the
holders of a majority of the aggregate then-outstanding principal amount of the Series B-1 Notes and any such amendment shall be
binding upon each holder of any Series B-1 Notes at the time outstanding and the Company; and

 

WHEREAS, the Majority
Noteholders hold a majority of the aggregate currently-outstanding principal amount of the Series B-1 Notes; and

 

WHEREAS, the Company
and the Majority Noteholders desire to amend the Series B-1 Notes to provide that the definition of “Issuance Conversion
Event” includes, and the Series B-1 Notes will automatically convert upon, the Company’s initial public offering of
its common stock pursuant to an effective registration statement under the United States Securities Act of 1933, as amended, or
equivalent law of another jurisdiction, or upon such date as the Company becomes subject to the reporting requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including, without limitation,
upon consummation of a reverse merger or upon the effectiveness of a registration statement on Form 10 filed by the Company under
the Exchange Act or equivalent document;

 

NOW, THEREFORE, in
consideration of the mutual promises and covenants set forth herein, the parties hereto, intending legally to be bound, hereby
agree as follows:

 

		1.	Section 2.a.i of each of the outstanding Series B-1 Notes
is hereby deleted and replaced in its entirety with the following:

 

 

 

    	 

    	 

    

 

	 	 	“ Issuance Conversion
Event” shall mean (i) an aggregate investment in the Company of $3,000,000 or more in one transaction or a series of related
transactions occurring after the date hereof, in which the Company shall have issued shares in the Company or securities (including
convertible debt) exercisable or convertible into shares in the Company or (ii) the Company’s initial public offering of
its common stock pursuant to an effective registration statement under the United States Securities Act of 1933, as amended, or
equivalent law of another jurisdiction, or upon such date as the Company becomes subject to the reporting requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including, without limitation,
upon consummation of a reverse merger or upon the effectiveness of a registration statement on Form 10 filed by the Company under
the Exchange Act or equivalent document.

 

	 	2.	This Amendment
shall be effective upon its execution by the Company and the Majority Noteholders.

 

	 	3.	This Amendment
may be executed in any number of counterparts, all of which taken together shall constitute one and the same agreement, and any
of the parties hereto may execute this Amendment by signing any such counterpart. Delivery of an executed counterpart of a signature
page to this Amendment by telecopier or by electronic mail (in portable document format (“PDF”)) shall be effective
as delivery of a manually executed counterpart of this Amendment.

 

	 	4.	This Amendment
shall be governed by and construed according to the laws of the State of Delaware, without regard to the conflict of laws provisions
thereof.

 

 

 

[Signature page follows] 

 

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IN WITNESS WHEREOF
the parties have signed this Amendment as of the date first written above.

 

 

	NANO VIBRONIX, INC.	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:  	/s/ Harold Jacob	 	 
	 	Name:  	Harold Jacob	 	 
	 	Title: 	Chief Executive Officer	 	 

 

 

HOLDERS

 

/s/ Horn Grandchildren 2004 Trust

/s/ Robin Press

/s/ Joseph Bronner

/s/ Ira Rabinowitz

/s/ Richard Grossman

/s/ Menachem Lifshitz

/s/ CollabRx, Inc. (f/k/a Tegal Corp.)

/s/ Aaron Martin

/s/ Harborview Master Fund LP

/s/ Globis International Investments, LLC

/s/ Globis Capital Partners, LP

/s/ Globis Overseas Fund, Ltd.

/s/ Harold Jacob

/s/ GCK Holdings Corp

/s/ Ellis International LP

/s/ Charles Alpert

/s/ Steve ZullerEXHIBIT 10.19

 

 

 

SECOND AMENDMENT TO

 

SUBSCRIPTION AGREEMENT

 

SERIES B CONVERTIBLE PREFERRED STOCK

 

AND WARRANTS

 

This Second
Amendment to Subscription Agreement for Series B Convertible Preferred Stock and Warrants (this
“Amendment”) is made as of February 28, 2014, by and among Nano Vibronix, Inc., a Delaware
corporation (the “Company”), and the persons who execute this Amendment (the “Majority
Holders”).

 

W I T N E S S E T H :

 

WHEREAS, the Company
and the holders of the Company’s Convertible Promissory Notes convertible into shares of Series B-2 Participating Convertible
Preferred Stock (the “Series B-2 Notes”) and the Company’s Series B-2 Participating Convertible Preferred
Stock Warrants (the “Warrants”) are parties to that certain Subscription Agreement for Series B Convertible
Preferred Stock and Warrants, dated March 2009, as amended by that certain First Amendment to Subscription Agreement for Series
B Convertible Preferred Stock, dated November 14, 2011 (as amended, the “Subscription Agreement”); and

 

WHEREAS, pursuant to
Section 5.8 of the Subscription Agreement, the Subscription Agreement may be amended with the written consent of the Company and
the holders of a majority of the aggregate then-outstanding Shares (as defined in the Subscription Agreement) and any such amendment
shall be binding upon each holder of any securities purchased under the Subscription Agreement, each future holder of all such
securities, and the Company; and

 

WHEREAS, the Majority
Holders hold (i) a majority of the aggregate currently-outstanding principal amount of the Series B-2 Notes and (ii) Warrants exercisable
for a majority of the shares of Series B-2 Participating Convertible Preferred Stock for which the Warrants, in the aggregate,
are currently exercisable; and

 

WHEREAS, pursuant to
Section 5.a of the Series B-2 Notes, the Series B-2 Notes may be amended as provided in the Subscription Agreement; and

 

WHEREAS, pursuant to
Section 11 of the Warrants, the Warrants and any term thereof may be changed, waived, discharged or terminated as provided in the
Subscription Agreement; and

 

WHEREAS, the Company
and the Majority Holders desire to amend the Subscription Agreement to provide that the Series B-2 Notes may be amended with the
written consent of the Company and the holders of a majority of the aggregate then-outstanding principal amount of the Series B-2
Notes; and

 

WHEREAS, the Company
and the Majority Holders desire to amend the Subscription Agreement to provide that the Warrants and any term thereof may be changed,
waived, discharged or terminated with the written consent of the Company and the holders of Warrants exercisable for a majority
of the securities for which the Warrants, in the aggregate, are then-currently exercisable;

 

 

    	 

    	 

    

 

 

NOW, THEREFORE, in
consideration of the mutual promises and covenants set forth herein, the parties hereto, intending legally to be bound, hereby
agree as follows:

 

1.Section 5.8 of
the Subscription Agreement is hereby deleted in its entirety and replaced with the following:

 

			Amendments and Waivers. Any provision of this Agreement may be amended and the
                                                                                    observance of any provision of this Agreement may be waived (either generally or in a particular instance and either
                                                                                    retroactively or prospectively), only with the written consent of the Company and the holders of a majority of the
                                                                                    aggregate then-outstanding securities purchased under this Agreement or securities into or for which the securities purchased
                                                                                    under this Agreement have been converted or exchanged (the “Then-Outstanding Securities”). With respect to
                                                                                    any Then-Outstanding Securities that are notes, any provision of such notes may be amended with the written consent of the
                                                                                    Company and the holders of a majority of the aggregate then-outstanding principal amount of the notes. With respect to any
                                                                                    Then-Outstanding Securities that are warrants, the warrants and any term thereof may be changed, waived, discharged or
                                                                                    terminated with the written consent of the Company and the holders of such warrants exercisable for a majority of the
                                                                                    securities for which such warrants, in the aggregate, are then-currently exercisable. Any amendment or waiver effected in
                                                                                    accordance with this Section shall be binding upon each holder of any Then-Outstanding Securities at the time outstanding
                                                                                    (including the Underlying Shares or other securities into or for which such securities are convertible or exercisable), each
                                                                                    future holder of all such Then-Outstanding Securities, and the Company.

 

2.This Amendment
shall be effective upon its execution by the Company and the Majority Holders.

 

3.This Amendment
may be executed in any number of counterparts, all of which taken together shall constitute one and the same agreement, and any
of the parties hereto may execute this Amendment by signing any such counterpart. Delivery of an executed counterpart of a signature
page to this Amendment by telecopier or by electronic mail (in portable document format (“PDF”)) shall be effective
as delivery of a manually executed counterpart of this Amendment.

 

4.This Amendment
shall be governed by and construed according to the laws of the State of Delaware, without regard to the conflict of laws provisions
thereof.

 

 

[Signature page follows]

 

  

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IN WITNESS WHEREOF
the parties have signed this Amendment as of the date first written above.

 

 

	NANO VIBRONIX, INC.	 	 
	 	 	 	 	 
	 	 	 	 	 
	By:  	/s/ Harold Jacob	 	 
	 	Name:  	Harold Jacob	 	 
	 	Title: 	Chief Executive Officer	 	 

 

 

HOLDERS

 

/s/ W.B. Nominees Limited

/s/ Walker Crips Stockbroker Ltd.

/s/ T.D.K. Simond

/s/ David Naylor-Leyland

/s/ Ian Harrison

/s/ Mark Nixon

/s/ Ira Greenstein

/s/ IDT Corporation

/s/ Orin Hirschman

/s/ Paul Packer

/s/ Jonathan Kahan

/s/ Judah Schorr

/s/ Miriam Winder Kelly

/s/ Bezalel Perl

/s/ Medical Instrument Development Inc.

/s/ Globis Overseas Fund, Ltd.

/s/ A. Chris Tupker

/s/ David Kreinberg

/s/ American Investments Limited

/s/ Joseph Bronner

/s/ Steven Zullar

/s/ Globis Capital Partners, LP

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