Document:

c51236_ex4-3.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 4.3

INTEGRAL VISION, INC. 

10% Secured Working Capital Class 2 Note

Notes Number ____

March 5, 2007 Amendments (to be attached to original notes)

	Original Note : dated	Payee: _________, in the amount of $

The maturity dates for the above referenced notes are hereby extended to July 31, 2007. 

The above referenced note holders currently have an interest in a portion of the future payments expected by Integral Vision, Inc. (“Integral”) from the orders as follows:

 (“The Previous Orders”). The above
  referenced note holders waive their security interest in such payments and hereby direct that such payments due them pursuant to The Previous Orders be retained by Integral for Integral’s general corporate purposes.

Any other payments due the above referenced note holders pursuant to the original terms of said notes are now to be shared on an undivided basis with all other Class 2 Note holders for notes which are currently outstanding or are
to be issued in the aggregate amount of (up to) $ 1,500,000 proportionately to each note holder’s interest – with the additional limitation that no funds due the above referenced note holders pursuant to the original terms of said notes
shall be shared with a note holder who has not amended their note to conform to the amended terms above. 

From this date forward (and without releasing the above note holders interest in the specified orders in their original notes pursuant to the terms of the original notes except as specified above) the above note holders will share
an undivided interest with other Class 2 Notes which Integral has or will issue in the aggregate amount of up to $ 1,500,000 in the specified orders as follows:

All sums received by Integral in payment for orders received by Integral after February 1, 2007 for flat panel display inspection equipment (excluding funds necessary to pay vendors for parts, materials, or contract services to
build said inspection systems ordered [with the total of these excluded amounts limited to no more than 50% of the gross order amount]) and also excluding funds received by Integral for orders to modify or upgrade flat panel inspection equipment
previously ordered from Integral and excluding sums received by Integral which Integral is obligated to pay as commissions to agents on said inspection system orders.

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INTEGRAL VISION, INC. 

10% Secured Working Capital Class 2 Note 

Notes Number

March 5, 2007 Amendments (to be attached to original notes) continued 

The above referenced note holders right to purchase securities, up to the face value of their notes and on the same terms and conditions as any new investors, in any subsequent financing offered by
Integral Vision while their notes are outstanding or offered by Integral Vision within 30 days of the repayment of these notes are hereby deleted and replaced with the following provision: 

The above referenced note holders shall have the right to purchase securities, up to the face value of their notes and on the same terms and conditions as any new investors, in any subsequent equity financing or other financing
which would include any present or future rights to obtain securities of Integral offered by Integral while these notes are outstanding or offered by Integral within 30 days of the repayment of these notes. However, such note holders’ right to
purchase such securities shall be suspended until the later of the following two events: 1) Integral amends their Articles to increase its authorized shares outstanding to 50 million shares at Integral’s next annual meeting of shareholders or
2) Integral amends their Articles to increase its authorized shares outstanding to accommodate said purchase of securities by the above referenced note holders (if 50 million authorized shares outstanding are not sufficient to allow the above
referenced note holders and all other Class 2 note holders [which have similar rights] to exercise the rights described in this paragraph). The above note holders will then have until the later of the following two events to exercise such rights: 1)
30 days after such an amendment (or such amendments) to Integral’s Articles are effective or 2) until 30 days after the above notes are repaid. Integral agrees to use its best efforts to secure shareholders’ approval for an increase in
their authorized shares outstanding to accommodate the above note holders’ right to purchase securities under this provision.

This amendment will only be effective if all other currently outstanding Class 2 Note Holders (as of March 5, 2007) amend their notes to the same terms that are in this amendment (except that Class 2 Note Holder holding Class 2
Note 57 in the face amount of $ 50,000 need not amend her note for this amendment to be effective) and if Maxco, Inc. purchases $ 250,000 of Class 2 Notes.

	NOTEHOLDER	INTEGRAL VISION, INC.
	 	 
	________________________________	By _____________________________
	 	Name: Charles J. Drake       or Mark R. Doede

	 	Title: Chairman of the Board       President

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EXHIBIT 4.4 

 INTEGRAL VISION, INC.10%

Secured Working Capital Class 2 Note 

 Note Number

 May 18, 2007 Amendment (to be attached to original notes) 

	Original Note : dated	Payee:       , in the amount of $

The above referenced currently shares an undivided interest in the specified order securing this note with other Class 2 notes which Integral Vision, Inc. (“Integral’) will issue (or has
issued) in the aggregate amount of $1,500,000.00.

This amendment hereby modifies this term to as follows: The above referenced will share an undivided interest in the specified order securing this note with other
Class 2 notes which Integral Vision, Inc. (“Integral’) will issue (or has issued) in the aggregate amount of $2,000,000.00.

This amendment will only be effective if all other currently outstanding Class 2 Note Holders (as of May 18, 2007) amend their notes ($ 1,424,000 of said Class 2 Notes are currently outstanding as of May 18, 2007) to the same
terms that are in this amendment (except that Class 2 Note Holder holding Class 2 Note 57 in the face amount of $ 50,000.00 need not amend her note for this amendment to be effective).

	NOTEHOLDER	 	INTEGRAL VISION, INC.
	 	 	 
	 

  	 
  	
By _____________________________
  
	
By _____________________________
  	 
  	
Name: Mark R. Doede
  
	 

  	 
  	
Title: President
  
	 

  
	
Its _____________________________
  	 
  	 

  

- 1 -c51236_ex4-5.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 4.5

CONSENT TO MODIFICATIONS

     This Consent to Modifications, dated August 13, 2007 is given and agreed to by the “Purchasers” under the Fourth Amended Note and Warrant Purchase Agreement by and among the Purchasers, Integral Vision, Inc., a Michigan
corporation (the "Company"), and J. M. Warren Law Office P. C., as Agent. 

Factual Statements

	
A.        	
The undersigned is a Purchaser, the Company, or the Agent under the Fourth Amended Note and Warrant Purchase Agreement (“Purchase Agreement”, dated effective as of the date of execution by such Purchaser, for the
purchase of the Notes and Warrants of the Company.  
	 
	
B.        	
The Company desires to raise additional funds under the Purchase Agreement. Prospective investors have requested terms for their potential investments that require certain portions of the Purchase Agreement be modified. The
parties to this Purchase Agreement wish to modify certain portions of the Purchase Agreement to accommodate said prospective investors, which shall be accomplished by attaching said changes to the Purchase Agreement in the form of an addendum to the
Purchase Agreement.  
	 
	
C.        	
Under the current $5,500,000 limit of aggregrate Notes issuable pursuant to the Purchase Agreement, the Company can issue $2,619,568.50 of Notes. The Company is currently indebted to Purchasers of Class 2 Notes under the Purchase
Agreement in the total amount of $2,124,000 and of Class 3 Notes under the Purchase Agreement in the total amount of $378,000. At the present time there are no Class 1 Notes outstanding under the Purchase Agreement.  
	 

Agreement

	
1.        	
Modifications. The undersigned agree to the modifications to the Purchase Agreement as follows:  
	 
	 	
Section 1(b): The sentence, “As used herein, "Notes" means either “Class 1 Notes,” “Class 2 Notes” or “Class 3 Notes” in a total aggregate amount outstanding at
any time not to exceed $5,500,000,, however such $5,500,000 shall be decreased by the principal amount of any Class 1 Notes surrendered to exercise warrants, and any Class 3 Notes converted, to purchase the Company’s common stock.” shall
be replaced in it entirety with the following, “As used herein, "Notes" means either “Class 1 Notes,” “Class 2 Notes” or “Class 3 Notes” in a total aggregate amount outstanding at any time not to exceed $3,000,000,
however such $3,000,000 shall be decreased by the principal amount of
any Class 1 Notes surrendered to exercise warrants,
	 

Page 1 of 3

	 	 and any Class 3
    Notes converted, to purchase the Company’s
    common stock subsequent to August 8, 2007.” Section
    1. (k) (ii):
There following shall be added to this section: “Class
2 Note holders may elect to receive accrued Class 2 warrants at the time said
Class 2 Note holders amend their notes. In addition to electing to receive  accrued
Class 2 warrants at the time Class 2 Note holders amend their notes, Class 2
Note holders may also elect to receive accrued Class 2 warrants once each calendar
quarter.”  
	 
	 	
Section 3: the definition of “Agent” should be deleted and replaced with the following: “"Agent" means J. M. Warren Law
Office P. C., or any successor agent appointed pursuant to Section 21.7 hereof.”  
	 
	 	
Section 4.15. Stock Ownership. This section of the Purchase Agreement shall be replaced in its entirety with the following: The authorized capital stock of the
Company consists of (i) 50,000,000 shares of Common Stock, without par value, of which 29,566,409 shares are outstanding, and (ii) 400,000 shares of Preferred Stock (though 7,000 shares of Preferred Stock are retired), without par value, none of
which are outstanding. Such outstanding shares of Common Stock are duly authorized, validly issued and outstanding and fully paid and nonassessable. Except for the Warrants, the 1997 Warrants (which expired without being exercised), the warrants to
purchase 3.5 million shares of the Company issued to the investors who purchased 7 million shares of the Company in April 2005, the Class 3 Notes and options to purchase shares of Common Stock granted to employees, directors or agents of the Company
pursuant to the Company's stock option plans, there are no outstanding options, warrants, rights, convertible securities or other agreements or plans under which the Company may become obligated to issue, sell or transfer shares of its capital stock
or other securities.  
	 
	
2.        	
Voluntary and Informed Execution.
THE PARTIES ACKNOWLEDGE THAT THEY HAVE HAD AN OPPORTUNITY TO CONSULT WITH LEGAL
COUNSEL WITH RESPECT TO THIS AGREEMENT AND THE TRANSACTIONS
CONTEMPLATED HEREBY, AND THAT THE MODIFICATIONS SET FORTH HEREIN WERE KNOWINGLY
AND VOLUNTARILY MADE.  
	 
	
3.        	
Effective Date. This agreement shall be effective on the date that the Majority Noteholders (as defined in the Purchase Agreement), the Company’s Board of Directors and Agent, have accepted
the terms and conditions herein and have signed this agreement.  
	 

	
Integral Vision, Inc.
  	
    J. M. Warren Law Offices P. C.
  	 
  	 

  
	 

  
	 

  
	
By: ______________________________
  	By:  
  	
 ______________________________
  	 
  	 

  
	
August 2007 -- Integral Vision, Inc. -- Modifications
  	 
  	J. Michael Warren

  	 
  	 

  
	Charles J. Drake, Chairman
   	 	
    

	 

  	 
  	
 Page 2 of
    3
  

	 	 
	 	 
	To be signed in counterparts. 	 
	 	 
	Other signatures on the following page(s): 	 
	 	 
	Please sign and fax just the signature page to: 	Mark Doede, President 
	 	 
	 	Fax: 2 4 8 . 6 6 8 . 9 3 8 4

August 2007 -- Integral Vision, Inc. -- Modifications

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