Document:

F-4/A

Exhibit 4.7  

WARRANT AGREEMENT 

        Agreement
made as of ___________, 2006 between Israel Growth Partners Acquisition Corp., a Delaware corporation, with
offices at Yahalom Tower, 28th floor, 3a Zabotinski St., Ramat Gan 52520, Israel,
(“Company”), and American Stock Transfer & Trust Company, a New York
corporation, with offices at 59 Maiden Lane, New York, New York 10038 (“Warrant
Agent”). 

        WHEREAS,
the Company has heretofore sold and delivered to its initial security holders, including
its officers and directors (collectively, “Insiders”), an aggregate of (i)
2,475,000 Class W Warrants (“Class W Warrants”) and (ii) 2,475,000 Class Z
Warrants (“Class Z Warrants”), each such Warrant evidencing the right of the
holder thereof to purchase one share of the Company’s common stock, par value $0.0001
per share (“Common Stock”), for $5.00, subject to adjustment as described herein
(the Class W Warrants and the Class Z Warrants sold to the Insiders being hereinafter
referred to, collectively, as “Insiders’ Warrants”); and   

        WHEREAS,
the Company is engaged in a public offering (“Public Offering”) of Units
(“Units”) and, in connection therewith, has determined to issue and deliver up
to (i) 10,580,000 Class W Warrants and 5,750,000 Class Z Warrants (collectively,
“Public Warrants”) to the public investors, and (ii) 460,000 Class W Warrants
and 250,000 Class Z Warrants to HCFP/Brenner Securities LLC (“Brenner”) or its
designees (“Representative’s Warrants” and, collectively with the
Insiders’ Warrants and the Public Warrants, the “Warrants”); and   

        WHEREAS,
the Company has filed with the Securities and Exchange Commission a Registration
Statement, No. 333-128355 on Form S-1 (“Registration Statement”) for the
registration, under the Securities Act of 1933, as amended (“Act”) of, among
other securities, the Warrants and the Common Stock issuable upon exercise of the
Warrants; and   

        WHEREAS,
the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant
Agent is willing to so act, in connection with the issuance, registration, transfer,
exchange, redemption and exercise of the Warrants; and   

        WHEREAS,
the Company desires to provide for the form and provisions of the Warrants, the terms upon
which they shall be issued and exercised, and the respective rights, limitation of rights,
and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and
  

        WHEREAS,
all acts and things have been done and performed which are necessary to make the Warrants,
when executed on behalf of the Company and countersigned by or on behalf of the Warrant
Agent, as provided herein, the valid, binding and legal obligations of the Company, and to
authorize the execution and delivery of this Agreement. 

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

     1. Appointment of Warrant Agent. The Company hereby appoints the Warrant
          Agent to act as agent for the Company for the Warrants, and the Warrant Agent
          hereby accepts such appointment and agrees to perform the same in accordance
          with the terms and conditions set forth in this Agreement. 

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     2. Warrants.   

        2.1
Form of Warrant. Each Warrant shall be issued in registered form only, shall be in
substantially the respective forms of Exhibits A and B hereto, the provisions of which are
incorporated herein and shall be signed by, or bear the facsimile signature of, the
Chairman of the Board or President and Treasurer, Secretary or Assistant Secretary of the
Company and shall bear a facsimile of the Company’s seal. In the event the person
whose facsimile signature has been placed upon any Warrant shall have ceased to serve in
the capacity in which such person signed the Warrant before such Warrant is issued, it may
be issued with the same effect as if he or she had not ceased to be such at the date of
issuance. 

        2.2
Effect of Countersignature. Unless and until countersigned by the Warrant Agent
pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be
exercised by the holder thereof. 

        2.3
Registration.   

	 	        2.3.1
Warrant Register. The Warrant Agent shall maintain books (“Warrant
Register”), for the registration of original issuance and the registration of
transfer of the Warrants. Upon the initial issuance of the Warrants, the Warrant Agent
shall issue and register the Warrants in the names of the respective holders thereof in
such denominations and otherwise in accordance with instructions delivered to the Warrant
Agent by the Company. 

	 	        2.3.2
Registered Holder. Prior to due presentment for registration of transfer of any
Warrant, the Company and the Warrant Agent may deem and treat the person in whose name
such Warrant shall be registered upon the Warrant Register (“registered
holder”), as the absolute owner of such Warrant and of each Warrant represented
thereby (notwithstanding any notation of ownership or other writing on the Warrant
Certificate made by anyone other than the Company or the Warrant Agent), for the purpose
of any exercise thereof, and for all other purposes, and neither the Company nor the
Warrant Agent shall be affected by any notice to the contrary. 

        2.4
Detachability of Warrants. The securities comprising the Units will not be
separately transferable until 90 days after the date hereof unless Brenner informs the
Company of its decision to allow earlier separate trading, but in no event will Brenner
allow separate trading of the securities comprising the Units until the Company files a
Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt
by the Company of the gross proceeds of the Public Offering including the proceeds
received by the Company from the exercise of the Underwriter’s over-allotment option,
if the over-allotment option is exercised prior to the filing of the Form 8-K. 

        2.5
Warrant Attributes. The Insiders’ Warrants, the Public Warrants and the
Representative’s Warrants shall have the same terms except with respect to the
Warrant Price and Exercise Period as set forth below in Sections 3.1 and 3.2. 

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     3. Terms and Exercise of Warrants.   

        3.1
Warrant Price. Each Insiders’ Warrant and Public Warrant shall, when
countersigned by the Warrant Agent, entitle the registered holder thereof, subject to the
provisions of such Insiders’ Warrant and Public Warrant, as applicable, and of this
Warrant Agreement, to purchase from the Company the number of shares of Common Stock
stated therein, at the price of $5.00 per whole share, subject to the adjustments provided
in Section 4 hereof and in the last sentence of this Section 3.1. Each
Representative’s Warrant shall, when countersigned by the Warrant Agent, entitle the
registered holder thereof, subject to the provisions of such Representative’s Warrant
and of this Warrant Agreement, to purchase from the Company the number of shares of Common
Stock stated therein, at the price of $5.50 per whole share, subject to the adjustments
provided in Section 4 hereof. The term “Warrant Price” as used in this
Warrant Agreement refers to the price per share at which Common Stock may be purchased at
the time a Warrant is exercised. The Company in its sole discretion may lower the Warrant
Price at any time prior to the Expiration Date. 

        3.2
Duration of Warrants.   

	 	        3.2.1
A Class W Warrant or Class Z Warrant may be exercised only during the period
(“Exercise Period”) commencing on the later of the consummation by the Company
of a merger, capital stock exchange, asset acquisition or other similar business
combination (“Business Combination”) (as described more fully in the
Company’s Registration Statement) and
                ,
2007. Each Insiders’ Warrant and Public Warrant shall terminate at 5:00 p.m., New
York City time, on the earlier to occur of (i)
                ,
2011 if a Class W Warrant or
                ,
2013 if a Class Z Warrant, as applicable, or (ii) the date fixed for redemption of the
Warrants as provided in Section 6 of this Agreement (“Expiration Date”). Each
Representative’s Warrant shall terminate at 5:00 p.m., New York City time, on the
earlier to occur of (i)
                ,
2011 or (ii) the date fixed for redemption of the Warrants as provided in Section 6 of
this Agreement. 

	 	        3.2.2
Except with respect to the right to receive the Redemption Price (as set forth in Section
6 hereunder), each Warrant not exercised on or before the Expiration Date shall become
void, and all rights thereunder and all rights in respect thereof under this Agreement
shall cease at the close of business on the Expiration Date. The Company in its sole
discretion may extend the duration of the Warrants by delaying the Expiration Date. 

        3.3
Exercise of Warrants.   

	 	        3.3.1
Payment. Subject to the provisions of the Warrant and this Warrant Agreement,
including Section 3.3.2, a Warrant, when countersigned by the Warrant Agent, may be
exercised by the registered holder thereof by surrendering it, at the office of the
Warrant Agent, or at the office of its successor as Warrant Agent, in the Borough of
Manhattan, City and State of New York, with the subscription form, as set forth in the
Warrant, duly executed, and by paying in full, in lawful money of the United States, in
cash, good certified check or good bank draft payable to the order of the Company (or as
otherwise agreed to by the Company), the Warrant Price for each full share of Common Stock
as to which the Warrant is exercised and any and all applicable taxes due in connection
with the exercise of the Warrant, the exchange of the Warrant for the Common Stock, and
the issuance of the Common Stock. 

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	 	        3.3.2
Issuance of Certificates. As soon as practicable after the exercise of any Warrant
and the clearance of the funds in payment of the Warrant Price, the Company shall issue to
the registered holder of such Warrant a certificate or certificates for the number of full
shares of Common Stock to which he is entitled, registered in such name or names as may be
directed by him, her or it, and if such Warrant shall not have been exercised in full, a
new countersigned Warrant for the number of shares as to which such Warrant shall not have
been exercised. Notwithstanding the foregoing, the Company shall not be obligated to
deliver any securities pursuant to the exercise of a Public Warrant or a
Representative’s Warrant and shall have no obligation to settle the Warrant exercise
unless a registration statement under the Act with respect to the Common Stock is
effective, subject to the Company’s satisfying its obligations under Section 7.4 to
use its best efforts. In the event that a registration statement with respect to the
Common Stock underlying a Public Warrant or a Representative’s Warrant is not
effective under the Act, the holder of such Public Warrant or Representative’s
Warrant shall not be entitled to exercise such Warrant and such Warrant may have no value
and expire worthless. In no event will the Company be required to net cash settle the
warrant exercise. Public Warrants and Representative’s Warrants may not be exercised
by, or securities issued to, any registered holder in any state in which such exercise
would be unlawful. The shares of common stock issuable upon exercise of Insiders’
Warrants shall be unregistered shares. In the event that a registration statement is not
effective for the exercised Public Warrants and Representative’s Warrants, the
purchaser of a unit containing such Warrant, will have paid the full purchase price for
the unit solely for the shares included in such unit. 

	 	        3.3.3
Valid Issuance. All shares of Common Stock issued upon the proper exercise of a
Warrant in conformity with this Agreement shall be validly issued, fully paid and
nonassessable. 

	 	        3.3.4
Date of Issuance. Each person in whose name any such certificate for shares of
Common Stock is issued shall for all purposes be deemed to have become the holder of
record of such shares on the date on which the Warrant was surrendered and payment of the
Warrant Price was made, irrespective of the date of delivery of such certificate, except
that, if the date of such surrender and payment is a date when the stock transfer books of
the Company are closed, such person shall be deemed to have become the holder of such
shares at the close of business on the next succeeding date on which the stock transfer
books are open. 

	 	        3.3.5
Warrant Solicitation and Warrant Solicitation Fee.  

	 	        (a)
               The Company has engaged Brenner, on a non-exclusive basis, as its agent
for the                solicitation of the exercise of the Warrants. The Company, at its
cost, will (i)                assist Brenner with respect to such solicitation, if
requested by Brenner, and                (ii) provide Brenner, and direct the Company’s
transfer agent and the                Warrant Agent to deliver to Brenner, lists of the
record and, to the extent                known, beneficial owners of the Company’s
Warrants. The Company hereby                instructs the Warrant Agent to cooperate with
Brenner in every respect in                connection with Brenner’s solicitation
activities, including, but not                limited to, providing to Brenner, at the
Company’s cost, a list of record                and beneficial holders of the
Warrants and circulating a prospectus or offering                circular disclosing the
compensation arrangements referenced in Section 3.3.5(b)                below to holders
of the Warrants at the time of exercise of the Warrants. In                addition to
the conditions set forth in Section 3.3.5(b), Brenner shall accept                payment
of the warrant solicitation fee provided in Section 3.3.5(b) only if it
               has provided bona fide services to the Company in connection with the
exercise                of the Warrants and only to the extent that an investor who
exercises his                Warrants specifically designates, in writing, that Brenner
solicited his                exercise. In addition to soliciting, either orally or in
writing, the exercise                of Warrants by a Warrant holder, such services may
also include disseminating                information, either orally or in writing, to
Warrant holders about the Company                or the market for the Company’s
securities, or assisting in the processing                of the exercise of Warrants.  

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	 	        (b)
               In each instance in which a Warrant is exercised, the Warrant Agent shall
               promptly give written notice of such exercise to the Company and Brenner
               (“Warrant Agent’s Exercise Notice”). If, upon the exercise
of any                Warrant more than one year from the effective date of the
Registration                Statement, (i) the market price of the Company’s Common
Stock is greater                than the Warrant Price, (ii) disclosure of compensation
arrangements between the                Company and Brenner with respect to the
solicitation of the exercise of the                Warrants was made both at the time of
the Public Offering and at the time of                exercise (by delivery of the
Prospectus or as otherwise required by applicable                law, rule or
regulation), (iii) the holder of the Warrant confirms in writing                that the
exercise of the Warrant was solicited by Brenner, (iv) the Warrant was                not
held in a discretionary account, and (v) the solicitation of the exercise of
               the Warrant was not in violation of Regulation M (as such rule or any
successor                rule may be in effect as of such time of exercise) promulgated
under the                Securities Exchange Act of 1934, as amended, then the Warrant
Agent,                simultaneously with the distribution of the Common Stock underlying
the Warrants                so exercised in accordance with the instructions from the
Company following                receipt of the proceeds to the Company received upon
exercise of such                Warrant(s), shall, on behalf of the Company, pay a fee of
5% of the Warrant                Price to Brenner, provided that Brenner delivers to the
Warrant Agent within ten                (10) business days from the date on which Brenner
has received the Warrant                Agent’s Exercise Notice, a certificate that
the conditions set forth in the                preceding clauses (iii), (iv) and (v) have
been satisfied. Notwithstanding the                foregoing, no fee will be paid to
Brenner with respect to the exercise by the                Underwriters or their
affiliates or the Company’s officers or directors of                Warrants
purchased by it or them upon exercise of the Representative’s
               Warrants and still held by any of the Underwriters or them for its or
their own                account. Brenner and the Company may at any time during business
hours, examine                the records of the Warrant Agent, including its ledger of
original Warrant                certificates returned to the Warrant Agent upon exercise
of Warrants.  

	 	        (c)
               The provisions of this Section 3.3.5. may not be modified, amended or
deleted                without the prior written consent of Brenner.  

     4.
          Adjustments.   

        4.1
Stock Dividends – Split-Ups. If after the date hereof, and subject to the
provisions of Section 4.6 below, the number of outstanding shares of Common Stock is
increased by a stock dividend payable in shares of Common Stock, or by a split-up of
shares of Common Stock, or other similar event, then, on the effective date of such stock
dividend, split-up or similar event, the number of shares of Common Stock issuable on
exercise of each Warrant shall be increased in proportion to such increase in outstanding
shares of Common Stock. 

        4.2
Aggregation of Shares. If after the date hereof, and subject to the provisions of
Section 4.6, the number of outstanding shares of Common Stock is decreased by a
consolidation, combination, reverse stock split or reclassification of shares of Common
Stock or other similar event, then, on the effective date of such consolidation,
combination, reverse stock split, reclassification or similar event, the number of shares
of Common Stock issuable on exercise of each Warrant shall be decreased in proportion to
such decrease in outstanding shares of Common Stock. 

5

        4.3
Adjustments in Exercise Price. Whenever the number of shares of Common Stock
purchasable upon the exercise of the Warrants is adjusted, as provided in Section 4.1 and
4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such
Warrant Price immediately prior to such adjustment by a fraction (x) the numerator of
which shall be the number of shares of Common Stock purchasable upon the exercise of the
Warrants immediately prior to such adjustment, and (y) the denominator of which shall be
the number of shares of Common Stock so purchasable immediately thereafter. 

        4.4
Replacement of Securities upon Reorganization, etc. In case of any reclassification
or reorganization of the outstanding shares of Common Stock (other than a change covered
by Section 4.1 or 4.2 hereof or that solely affects the par value of such shares of Common
Stock), or in the case of any merger or consolidation of the Company with or into another
corporation (other than a consolidation or merger in which the Company is the continuing
corporation and that does not result in any reclassification or reorganization of the
outstanding shares of Common Stock), or in the case of any sale or conveyance to another
corporation or entity of the assets or other property of the Company as an entirety or
substantially as an entirety in connection with which the Company is dissolved, the
Warrant holders shall thereafter have the right to purchase and receive, upon the basis
and upon the terms and conditions specified in the Warrants and in lieu of the shares of
Common Stock of the Company immediately theretofore purchasable and receivable upon the
exercise of the rights represented thereby, the kind and amount of shares of stock or
other securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any such sale or
transfer, that the Warrant holder would have received if such Warrant holder had exercised
his, her or its Warrant(s) immediately prior to such event; and if any reclassification
also results in a change in shares of Common Stock covered by Section 4.1 or 4.2, then
such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.3 and this Section 4.4. The
provisions of this Section 4.4 shall similarly apply to successive reclassifications,
reorganizations, mergers or consolidations, sales or other transfers. 

        4.5
Notices of Changes in Warrant. Upon every adjustment of the Warrant Price or the
number of shares issuable upon exercise of a Warrant, the Company shall give written
notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting
from such adjustment and the increase or decrease, if any, in the number of shares
purchasable at such price upon the exercise of a Warrant, setting forth in reasonable
detail the method of calculation and the facts upon which such calculation is based. Upon
the occurrence of any event specified in Sections 4.1, 4.2, 4.3 or 4.4, then, in any such
event, the Company shall give written notice to the Warrant holder, at the last address
set forth for such holder in the warrant register, of the record date or the effective
date of the event. Failure to give such notice, or any defect therein, shall not affect
the legality or validity of such event. 

        4.6
No Fractional Shares. Notwithstanding any provision contained in this Warrant
Agreement to the contrary, the Company shall not issue fractional shares upon exercise of
Warrants. If, by reason of any adjustment made pursuant to this Section 4, the holder of
any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional
interest in a share, the Company shall, upon such exercise, round up to the nearest whole
number the number of the shares of Common Stock to be issued to the Warrant holder. 

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        4.7
Form of Warrant. The form of Warrant need not be changed because of any adjustment
pursuant to this Section 4, and Warrants issued after such adjustment may state the same
Warrant Price and the same number of shares as is stated in the Warrants initially issued
pursuant to this Agreement. However, the Company may at any time in its sole discretion
make any change in the form of Warrant that the Company may deem appropriate and that does
not affect the substance thereof, and any Warrant thereafter issued or countersigned,
whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the
form as so changed. 

     5.
          Transfer and Exchange of Warrants.   

        5.1
Registration of Transfer. The Warrant Agent shall register the transfer, from time
to time, of any outstanding Warrant upon the Warrant Register, upon surrender of such
Warrant for transfer, properly endorsed with signatures properly guaranteed and
accompanied by appropriate instructions for transfer. Upon any such transfer, a new
Warrant representing an equal aggregate number of Warrants shall be issued and the old
Warrant shall be cancelled by the Warrant Agent. The Warrants so cancelled shall be
delivered by the Warrant Agent to the Company from time to time upon request. 

        5.2
Procedure for Surrender of Warrants. Warrants may be surrendered to the Warrant
Agent, together with a written request for exchange or transfer, and thereupon the Warrant
Agent shall issue in exchange therefor one or more new Warrants as requested by the
registered holder of the Warrants so surrendered, representing an equal aggregate number
of Warrants; provided, however, that in the event that a Warrant surrendered for transfer
bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and issue new
Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel
for the Company stating that such transfer may be made and indicating whether the new
Warrants must also bear a restrictive legend. 

        5.3
Fractional Warrants. The Warrant Agent shall not be required to effect any
registration of transfer or exchange which will result in the issuance of a warrant
certificate for a fraction of a warrant. 

        5.4
Service Charges. No service charge shall be made for any exchange or registration
of transfer of Warrants. 

        5.5
Warrant Execution and Countersignature. The Warrant Agent is hereby authorized to
countersign and to deliver, in accordance with the terms of this Agreement, the Warrants
required to be issued pursuant to the provisions of this Section 5, and the Company,
whenever required by the Warrant Agent, will supply the Warrant Agent with Warrants duly
executed on behalf of the Company for such purpose. 

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     6.
          Redemption.   

        6.1
Redemption. Subject to Section 6.4 hereof, the Class W Warrants and/or Class Z
Warrants may be redeemed, at the option of the Company, in whole or in part, at any time
after they become exercisable and prior to their expiration, at the office of the Warrant
Agent, upon the notice referred to in Section 6.2, at the price of $.05 per Warrant
(“Redemption Price”), provided that (i) the last sales price of the Common Stock
has been at least $7.50 per share (subject to adjustment in accordance with Section 4
hereof), in the case of the Class W Warrants, and $8.75 per share (subject to adjustment
in accordance with Section 4 hereof), in the case of the Class Z Warrants, as applicable,
on any twenty (20) trading days within any thirty (30) trading day period ending on the
third business day prior to the date on which notice of redemption is given (the
“Measurement Period”) and (ii) the Warrants and the shares of Common Stock
underlying the warrants are covered by a registration statement that is effective under
the Act on each day commencing on the first day of the Measurement Period and ending on
the date fixed for redemption. In the event of a redemption for less than all of the Class
W Warrants and/or Class Z Warrants, warrants shall be redeemed pro rata, with respect to
each of the Class W Warrants and the Class Z Warrants. The provisions of this Section 6.1
may not be modified, amended or deleted without the prior written consent of Brenner. In
determining whether to grant consent to any redemption, Brenner will assess the relative
strengths of the securities markets and small capitalization companies, in general, and
the trading pattern of, and demand for the Company’s securities in particular. 

        6.2
Date Fixed for, and Notice of, Redemption. In the event the Company shall elect to
redeem any or all of the Class W and/or Class Z Warrants, as applicable, the Company shall
fix a date for the redemption. Notice of redemption shall be mailed by first class mail,
postage prepaid, by the Company not less than 30 days prior to the date fixed for
redemption to the registered holders of the Class W or Class Z Warrants, as applicable, to
be redeemed at their last addresses as they shall appear on the registration books. Any
notice mailed in the manner herein provided shall be conclusively presumed to have been
duly given whether or not the registered holder received such notice. 

        6.3
Exercise After Notice of Redemption. The Class W or Class Z Warrants, as
applicable, may be exercised in accordance with Section 3 of this Agreement at any time
after notice of redemption shall have been given by the Company pursuant to Section 6.2.
hereof and prior to the time and date fixed for redemption. On and after the redemption
date, the record holders of such Warrants shall have no further rights except to receive,
upon surrender of the Warrants, the Redemption Price. 

        6.4
Exclusion of Certain Warrants.   

	 	        (a)
               The Company understands that the redemption rights provided for by this
Section                6 apply only to outstanding Warrants. To the extent a person holds
rights to                purchase Warrants, such purchase rights shall not be
extinguished by redemption.                However, once such purchase rights are
exercised, the Company may redeem the                Warrants issued upon such exercise
provided that the criteria for redemption is                met. The provisions of this
Section 6.4(a) may not be modified, amended or                deleted without the prior
written consent of Brenner.  

	 	        (b)
               The Insider Warrants may not be redeemed by the Company so long as such
Insider                Warrants are held by the Insiders. However, once an Insider
transfers his                Insider Warrants, such Insider Warrants shall then be
redeemable by the Company                pursuant to Section 6 hereof.  

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     7.
          Other Provisions Relating to Rights of Holders of Warrants.   

        7.1
No Rights as Stockholder. A Warrant does not entitle the registered holder thereof
to any of the rights of a stockholder of the Company, including, without limitation, the
right to receive dividends, or other distributions, exercise any preemptive rights to vote
or to consent or to receive notice as stockholders in respect of the meetings of
stockholders or the election of directors of the Company or any other matter. 

        7.2
Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost, stolen,
mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to
indemnity or otherwise as they may in their discretion impose (which shall, in the case of
a mutilated Warrant, include the surrender thereof), issue a new Warrant of like
denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any
such new Warrant shall constitute a substitute contractual obligation of the Company,
whether or not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any
time enforceable by anyone. 

        7.3
Reservation of Common Stock. The Company shall at all times reserve and keep
available a number of its authorized but unissued shares of Common Stock that will be
sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to
this Agreement. 

        7.4
Registration of Common Stock. The Company agrees that prior to the commencement of
the Exercise Period, it shall file with the Securities and Exchange Commission a
post-effective amendment to the Registration Statement, or a new registration statement,
for the registration, under the Act, of, and it shall use its best efforts to take such
action as is necessary to qualify for sale, in those states in which the Public Warrants
and Representative’s Warrants were initially offered by the Company, the Common Stock
issuable upon exercise of the Public Warrants and Representative’s Warrants. In
either case, the Company will use its best efforts to cause the same to become effective
and to maintain the effectiveness of such registration statement until the expiration of
the Public Warrants and Representative’s Warrants in accordance with the provisions
of this Agreement. The provisions of this Section 7.4 may not be modified, amended or
deleted without the prior written consent of Brenner. 

     8.
          Concerning the Warrant Agent and Other Matters.   

        8.1
Payment of Taxes. The Company will from time to time promptly pay all taxes and
charges that may be imposed upon the Company or the Warrant Agent in respect of the
issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the
Company shall not be obligated to pay any transfer taxes in respect of the Warrants or
such shares. 

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        8.2
Resignation, Consolidation, or Merger of Warrant Agent.  

	 	        8.2.1
Appointment of Successor Warrant Agent. The Warrant Agent, or any successor to it
hereafter appointed, may resign its duties and be discharged from all further duties and
liabilities hereunder after giving sixty (60) days’ notice in writing to the Company.
If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or
otherwise, the Company shall appoint in writing a successor Warrant Agent in place of the
Warrant Agent. If the Company shall fail to make such appointment within a period of 30
days after it has been notified in writing of such resignation or incapacity by the
Warrant Agent or by the holder of the Warrant (who shall, with such notice, submit his
Warrant for inspection by the Company), then the holder of any Warrant may apply to the
Supreme Court of the State of New York for the County of New York for the appointment of a
successor Warrant Agent at the Company’s cost. Any successor Warrant Agent, whether
appointed by the Company or by such court, shall be a corporation organized and existing
under the laws of the State of New York, in good standing and having its principal office
in the Borough of Manhattan, City and State of New York, and authorized under such laws to
exercise corporate trust powers and subject to supervision or examination by federal or
state authority. After appointment, any successor Warrant Agent shall be vested with all
the authority, powers, rights, immunities, duties, and obligations of its predecessor
Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without
any further act or deed; but if for any reason it becomes necessary or appropriate, the
predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an
instrument transferring to such successor Warrant Agent all the authority, powers, and
rights of such predecessor Warrant Agent hereunder; and upon request of any successor
Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all
instruments in writing for more fully and effectually vesting in and confirming to such
successor Warrant Agent all such authority, powers, rights, immunities, duties, and
obligations. 

	 	        8.2.2
Notice of Successor Warrant Agent. In the event a successor Warrant Agent shall be
appointed, the Company shall give notice thereof to the predecessor Warrant Agent and the
transfer agent for the Common Stock not later than the effective date of any such
appointment. 

	 	        8.2.3
Merger or Consolidation of Warrant Agent. Any corporation into which the Warrant
Agent may be merged or with which it may be consolidated or any corporation resulting from
any merger or consolidation to which the Warrant Agent shall be a party shall be the
successor Warrant Agent under this Agreement without any further act. 

        8.3
Fees and Expenses of Warrant Agent.   

	 	        8.3.1
Remuneration. The Company agrees to pay the Warrant Agent reasonable remuneration
for its services as such Warrant Agent hereunder and will reimburse the Warrant Agent upon
demand for all expenditures that the Warrant Agent may reasonably incur in the execution
of its duties hereunder. 

	 	        8.3.2
Further Assurances. The Company agrees to perform, execute, acknowledge, and
deliver or cause to be performed, executed, acknowledged, and delivered all such further
and other acts, instruments, and assurances as may reasonably be required by the Warrant
Agent for the carrying out or performing of the provisions of this Agreement. 

10

        8.4
Liability of Warrant Agent.  

	 	        8.4.1
Reliance on Company Statement. Whenever in the performance of its duties under this
Warrant Agreement, the Warrant Agent shall deem it necessary or desirable that any fact or
matter be proved or established by the Company prior to taking or suffering any action
hereunder, such fact or matter (unless other evidence in respect thereof be herein
specifically prescribed) may be deemed to be conclusively proved and established by a
statement signed by the President or Chairman of the Board of the Company and delivered to
the Warrant Agent. The Warrant Agent may rely upon such statement for any action taken or
suffered in good faith by it pursuant to the provisions of this Agreement. 

	 	        8.4.2
Indemnity. The Warrant Agent shall be liable hereunder only for its own negligence,
willful misconduct or bad faith. The Company agrees to indemnify the Warrant Agent and
save it harmless against any and all liabilities, including judgments, costs and
reasonable counsel fees, for anything done or omitted by the Warrant Agent in the
execution of this Agreement except as a result of the Warrant Agent’s negligence,
willful misconduct, or bad faith. 

	 	        8.4.3
Exclusions. The Warrant Agent shall have no responsibility with respect to the
validity of this Agreement or with respect to the validity or execution of any Warrant
(except its countersignature thereof); nor shall it be responsible for any breach by the
Company of any covenant or condition contained in this Agreement or in any Warrant; nor
shall it be responsible to make any adjustments required under the provisions of Section 4
hereof or responsible for the manner, method, or amount of any such adjustment or the
ascertaining of the existence of facts that would require any such adjustment; nor shall
it by any act hereunder be deemed to make any representation or warranty as to the
authorization or reservation of any shares of Common Stock to be issued pursuant to this
Agreement or any Warrant or as to whether any shares of Common Stock will when issued be
valid and fully paid and nonassessable. 

        8.5
Acceptance of Agency. The Warrant Agent hereby accepts the agency established by
this Agreement and agrees to perform the same upon the terms and conditions herein set
forth and among other things, shall account promptly to the Company with respect to
Warrants exercised and concurrently account for, and pay to the Company, all moneys
received by the Warrant Agent for the purchase of shares of the Company’s Common
Stock through the exercise of Warrants. 

     9.
          Miscellaneous Provisions.   

        9.1
Successors. All the covenants and provisions of this Agreement by or for the
benefit of the Company or the Warrant Agent shall bind and inure to the benefit of their
respective successors and assigns. 

11

        9.2
Notices. Any notice, statement or demand authorized by this Warrant Agreement to be
given or made by the Warrant Agent or by the holder of any Warrant to or on the Company
shall be sufficiently given when so delivered if by hand or overnight delivery or if sent
by certified mail or private courier service within five days after deposit of such
notice, postage prepaid, addressed (until another address is filed in writing by the
Company with the Warrant Agent), as follows: 

	 	
Israel
Growth Partners Acquisition Corp.  
     Yahalom Tower, 28th floor   
    3a Zabotinski St.
      
Ramat Gan 52520   
    Israel     
  Attn: Chief Financial Officer 

Any notice, statement or demand
authorized by this Agreement to be given or made by the holder of any Warrant or by the
Company to or on the Warrant Agent shall be sufficiently given when so delivered if by
hand or overnight delivery or if sent by certified mail or private courier service within
five days after deposit of such notice, postage prepaid, addressed (until another address
is filed in writing by the Warrant Agent with the Company), as follows: 

	 	
American
Stock Transfer & Trust Company 
 6201 15th Avenue, 3rd Floor 
 Brooklyn, New York
11219 
 Attn: Compliance Department  

with a copy in each case to: 

	 	
Blank
Rome LLP    
   The Chrysler Building   
    405 Lexington Avenue  
     New York, New York
10174    
   Attn: Robert L. Mittman, Esq. 

and 

	 	
Graubard
Miller    
   The Chrysler Building     
 405 Lexington Avenue   
    New York, New York
10174    
   Attn: David Alan Miller, Esq. 

and 

	 	
HCFP/Brenner
Securities LLC 
 888 Seventh Avenue, 17th Floor 
 New York, New York 10106

 Attn: Avi Lipsker  

12

        9.3
Applicable Law. The validity, interpretation, and performance of this Agreement and
of the Warrants shall be governed in all respects by the laws of the State of New York,
  without giving effect to conflict of laws. The Company hereby agrees that any
action, proceeding or claim against it arising out of or relating in any way to this
Agreement shall be brought and enforced in the courts of the State of New York or the
United States District Court for the Southern District of New York, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby
waives any objection to such exclusive jurisdiction and that such courts represent an
inconvenience forum. Any such process or summons to be served upon the Company may be
served by transmitting a copy thereof by registered or certified mail, return receipt
requested, postage prepaid, addressed to it at the address set forth in Section 9.2
hereof. Such mailing shall be deemed personal service and shall be legal and binding upon
the Company in any action, proceeding or claim. 

        9.4
Persons Having Rights under this Agreement. Nothing in this Agreement expressed and
nothing that may be implied from any of the provisions hereof is intended, or shall be
construed, to confer upon, or give to, any person or corporation other than the parties
hereto and the registered holders of the Warrants and, for the purposes of Sections 3.3.5,
6.1, 6.4, 7.4 and 9.2 hereof, Brenner, any right, remedy, or claim under or by reason of
this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement
hereof. Brenner shall be deemed to be a third-party beneficiary of this Agreement with
respect to Sections 3.3.5, 6.1, 6.4, 7.4 and 9.2 hereof. All covenants, conditions,
stipulations, promises, and agreements contained in this Warrant Agreement shall be for
the sole and exclusive benefit of the parties hereto (and Brenner with respect to the
Sections 3.3.5, 6.1, 6.4, 7.4 and 9.2 hereof) and their successors and assigns and of the
registered holders of the Warrants. 

        9.5
Examination of the Warrant Agreement. A copy of this Agreement shall be available
at all reasonable times at the office of the Warrant Agent in the Borough of Manhattan,
City and State of New York, for inspection by the registered holder of any Warrant. The
Warrant Agent may require any such holder to submit his Warrant for inspection by it. 

        9.6
Counterparts. This Agreement may be executed in any number of counterparts and each
of such counterparts shall for all purposes be deemed to be an original, and all such
counterparts shall together constitute but one and the same instrument. 

        9.7
Effect of Headings. The Section headings herein are for convenience only and are
not part of this Warrant Agreement and shall not affect the interpretation thereof. 

13

        IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day
and year first above written. 

	ATTEST:

——————————————

	ISRAEL GROWTH PARTNERS
ACQUISITION CORP.

By:
——————————————

Name:  Dror Gad
Title: Chief Financial Officer and 
Executive Vice President

	ATTEST:

——————————————

	AMERICAN STOCK TRANSFER
& TRUST COMPANY

By:
——————————————

Name:  
Title: 

14F-4/A

Exhibit 10.3  

CONVERTIBLE LOAN
AGREEMENT  

        This
Convertible Loan Agreement (this “Agreement”) is made and entered into as
of October 29, 2007 by and between Negevtech Ltd., a company incorporated under the laws
of the State of Israel (the “Company”) and the lenders listed in Annex A
hereto (each a “Lender” and collectively, the
“Lenders”). 

        WHEREAS,
the Company desires to borrow from the Lenders an aggregate amount of $5,000,000 (the
“First Loan Amount”) and the Lenders are willing to provide the First
Loan Amount to the Company, subject to the terms and conditions of this Agreement; and 

        WHEREAS,
the Company further desires to borrow from the Lenders an additional aggregate amount of
$5,000,000 (the “Additional Loan Amount”) and the Lenders are willing to
provide the Additional Loan Amount to the Company, all subject to the terms and conditions
of this Agreement (the First Loan Amount and the Additional Loan Amount shall be referred
together as the “Loan Principal Amount”). 

        NOW,
THEREFORE, the parties agree as follows: 

1.     Loan 

         (a)       
          Subject to the terms and conditions hereof, the Lenders shall lend the Company,
          and the Company shall borrow from the Lenders, the Loan Principal Amount. The
          portion of the Loan Principal Amount to be provided by each Lender is set forth
          on Annex A1, A2 hereto opposite each Lender’s name.
          The obligation of each Lender to provide such Lender’s portion of the Loan
          Principal Amount is several and not jointly with the other Lenders. 

         (b)       
          The Loan Amount (as defined below) shall be used by the Company as general
          working capital in accordance with the budget which shall be approved by the
          Board of Directors of the Company from time to time (the
          “Budget”). 

2.     Closing 

    2.1        The
closing of the transaction of the First Loan Amount (the “1st Closing”)
shall take place on October 29, 2007 and shall be subject to the fulfillment of all of
the conditions to Closing, as set forth in Section 3 hereof. At the 1st Closing, each
Lender shall pay to the Company the applicable amount, out of the First Loan Amount, set
forth in Annex A1 opposite such Lender’s name, by wire transfer to the Company’s
bank account.  

    2.2        The
closing of the transaction of the Additional Loan Amount (the “2nd Closing”and
together with the 1st Closing, the “Closing”) shall take place within 10
(ten) business days following such date as has been determined by the Company’s
Board of Directors, based on the Company’s needs for cash, and shall be subject to
the fulfillment of all of the conditions to the 2nd Closing, as set forth in Section 3
hereof. At the 2nd Closing, the Lenders shall pay to the Company the Additional Loan
Amount in the amounts set forth in Annex A2 opposite each Lender’s name, by
wire transfer to the Company’s bank account.  

3.     Conditions
to Closing. 

    3.1        The
obligations of the Lenders under Section 2.1 and 2.2, respectively, are subject to the
fulfillment on or before the 1st Closing or the 2nd Closing, as applicable, of each of
the following conditions:  

	 	3.1.1 	receipt
of the approval of the Board of Directors of the Company (the “Board”) and the
General Meeting of Shareholders of the Company for the execution, delivery and
performance by the Company of this Agreement, and 

	 	3.1.2 	all
representations and warranties of the Company contained in Section 6 below shall be true
and correct in all material respects at the time of the 1st Closing as though made again
at that time. 

    3.2        The
Lenders hereby undertake to take all steps necessary on their part in order to ensure the
fulfillment of the above conditions at each of the 1st Closing and the 2nd Closing,
including voting their shares for the adoption of the resolutions need to be taken by the
Shareholders of the Company in connection with the transactions contemplated under this
Agreement.  

4.     Terms
of Loan. 

        This
Loan is subject to the following terms and conditions: 

         (a)       
          Maturity Date. The entire unpaid balance of the loans provided under this
          Agreement, including the Loan Principal Amount and all accrued and unpaid
          Interest thereon (the “Loan Amount”), shall be immediately due
          and payable on the earlier of (i) January 31, 2009 (ii) such other date decided
          by the Board to the extent that the financial condition of the Company has been
          significantly improved, as was determined by the Board in its sole discretion
          (the “Maturity Date”). 

        It
is hereby agreed and clarified that notwithstanding anything to the contrary in this
Agreement, the repayment of the Loan Amount or any part thereof, for any reason
whatsoever, shall be subordinated to and subject to the full repayment of all amounts
(including all accrued and unpaid interest thereon) due by the Company to Plenus
Technologies Ltd., Plenus II L.P. and/or Plenus II (D.C.M.) L.P. (“Plenus”)
under the agreements entered between Plenus and the Company, dated October 11, 2005 and
October 14, 2005 as amended (the “Plenus Agreement”). 

         (b)       
          Interest. Interest on the unpaid Loan Principal Amount shall accrue with
          respect to each installment payment from the date of the actual payment of such
          respective installment to the Company (including the 1st Closing, the 2nd
          Closing or any other date of actual payment), at a rate equals to LIBOR for one
          year plus 2.3% per annum, compounded annually (and prorated with respect to any
          portion thereof), until the entire Loan Amount is paid in full (the
          “Interest”). 

    (c)        Conversion.  

	 	        (i)Optional
Conversion. Each Lender may, at its own discretion (but subject           to section
4(c)(iii) below), either (a) convert the applicable amount of the           Loan Amount
(including any Interest accrued thereon) due to such Lender or any           part
thereof, into shares of the Company’s Series A-1 Preferred Shares (the
          “A-1 Shares”), with a price per share of $1.3235 (the “A-1
          Price”), or, in case the Company has consummated another equity financing
          prior to such Lender’s election (the “New Equity financing”),
          into shares of the Company’s equity securities which have been issued and
          sold at the closing of such New Equity Financing. The number of A-1 Shares to
be           issued to each Lender upon such conversion shall be equal to the quotient
          obtained by dividing the outstanding Loan Amount (and any Interest accrued
          thereon) provided by such Lender by the A-1 Price, rounded to the nearest whole
          share, or (b) demand in writing the repayment in full of the Loan Amount
          provided by such Lender, together with any Interest accrued thereon, within 7
          days of receipt of such demand; provided that such demand of repayment may be
          made only following the Maturity Date and provided further that such repayment
          shall be subject to the rights of Plenus under the Plenus Agreement.  

	 	        (ii)
Automatic Conversion In the event that a Lender has elected to demand the
          repayment of its applicable amount of the Loan Amount in accordance with
          subsection (c)(i) above, and the Company does not have available cash for the
          repayment of the outstanding Loan Amount due to such Lender or any part thereof
          (as shall be determined by the Company’s Board of Directors), such Loan
          Amount or any part thereof which the Company is unable to repay, shall
          automatically be converted into A-1 Shares based on the A-1 Price or, in case
          the Company has consummated a New Equity financing (as defined above), into
          shares of the Company’s equity securities which have been issued and sold
          at the closing of such New Equity Financing, unless the Lender has decided to
          defer the Maturity Date of such Loan Amount or any part thereof which the
          Company is unable to repay.  

	 	        In
case of conversion of the Loan Amount either under this subsection (ii) or subsection (i)
above into the Company’s equity securities which have been issued and sold at the
closing of a New Equity Financing and if more than one class or series of equity
securities are issued as part of the New Equity Financing, then the Lenders shall be
entitled to the most favorable class or series of equity securities issued in such
financing, and in the event that the New Equity Financing includes issuances of shares of
the same class at different prices per share, then the Lenders shall be entitled to
receive the lowest of such prices. The number of shares to be issued to each Lender upon
such conversion shall be equal to the quotient obtained by dividing (x) the outstanding
Loan Amount (and any Interest accrued thereon) provided by such Lender by (y) the price
per share of the equity securities paid by investors in the New Equity Financing, rounded
to the nearest whole share, and such shares shall be of the same class and have such
rights (including with respect to original issuance price, liquidation preference,
conversion price and with respect to any other securities, warrants or other rights
issued or provided as part of the New Equity Financing) as those of the New Equity
Financing, and the Lenders shall be deemed to be investors in the New Equity Financing
for all purposes  

	 	        (iii)
Automatic Conversion Upon Non Participation Notwithstanding anything to
          the contrary in this Agreement, in the event that a Lender shall not provide
the           Company at the 2nd Closing with the applicable portion of the Additional
Loan           Amount indicated opposite such Lender’s name in Annex A2 attached
          hereto, then, the entire portion of the First Loan Amount due to such Lender,
          including any Interest accrued thereon, shall automatically be converted upon
          the 2nd Closing into 1 (one) Series A-1 Preferred Share of the Company, of
          nominal value 1 NIS. The original issue price of this share for purposes of
          conversion rights and/or liquidation preference rights shall deemed to be the
          A-1 Price, i.e. $1.3235 (without taking into account the actual portion of the
          First Loan Amount provided by such Lender at the 1st Closing) and in no event
          shall it entitle its holder to any rights or privileges beyond the rights of
          privileges resulting from such price of $1.3235.  

	 	        Without
derogating from the above, it is herby agreed that a non-participation by a Lender in the
2nd Closing shall not be deemed a breach of this Agreement.  

	 	        (iv)
Mechanics and Effect of Conversion. No fractional shares of the           Company’s
share capital will be issued upon conversion of the Loan Amount,           and the number
of shares will be rounded down to the nearest whole number. Upon           conversion of
the Loan Amount pursuant to this Section 4, the Lenders shall           surrender this
Agreement duly endorsed, at the principal offices of the Company.           At its
expense, the Company will, as soon as practicable after the date any           conversion
is effected under this Agreement, issue and deliver to the Lenders, a
          certificate or certificates for the number of shares to which each Lender is
          entitled upon such conversion, together with such other securities and property
          to which the Lenders are entitled upon such conversion under the terms of this
          Agreement. Upon conversion of the Loan Amount, the Company will be forever
          released from all of its obligations and liabilities (other than those relating
          to the representations and warranties in Section 6) under this Agreement,
          including without limitation the obligation to pay the Loan Amount (including
          any accrued Interest thereon).  

         (d)       
          Exit Event. In the event that, prior to either (i) a conversion of the
          Loan Amount into investment in the Company or the repayment of the Loan Amount
          pursuant to subsections (c)(i) or (c)(ii) above, or (ii) the repayment of the
          Loan Amount upon Event of Default pursuant to section (e) below, an Exit Event
          occurs, then, immediately prior to such Exit Event, the Loan Amount and any
          Interest accrued thereon, shall either, at the Lender’s own
          discretion (A) automatically be converted into the securities issued at the
          Company’s last round of financing took place before the Exit Event, at a
          price per share equals to the lower of (i) the price per share applicable
          to the Exit Event, (which calculation shall assume the conversion of the Loan
          Amount as aforesaid), (ii) the price per share paid at the Company’s last
          round of financing took place before the Exit Event and (iii) the A-1 Price
          or (B) be immediately due and payable out of the consideration received
          in connection with such Exit Event, whether such consideration is in cash or a
          non-cash consideration. 

        For
the purposes of this Agreement, “Exit Event” shall mean, the Company’s IPO
or its merger into, acquisition by, sale of majority of its outstanding share capital or
sale of all or substantially all its assets to another entity, or any other transaction or
series of transactions resulting in the sale of more that 50% of the Company’s voting
power to another entity or person. 

         (e)       
          Events of Default. The Loan Amount, together with any accrued Interest,
          shall, immediately become due and payable to the Lenders upon any Event of
          Default as defined herein, unless the Lenders providing a majority of the Loan
          Amount waive their rights regarding such Event of Default. The occurrence of any
          of the following shall be an Event of Default: 

	 	        (i)
Any material breach by the Company of any of its obligations or representations
          under this Agreement, which breach is not cured by the Company within sixty
(60)           days of receiving written notice thereof from any of the Lenders; or  

	 	        (ii)
          The commencement of any liquidation proceedings of the Company or the adoption
          of a winding up resolution by the Company, or the appointment of a receiver or
          trustee over the Company’s assets, or the calling by Company of a meeting
          of creditors for the purpose of entering into a scheme or arrangement with
them,           and if any of the aforementioned actions or proceedings is not cancelled
within           ninety (90) days of its initiation; or  

	 	        (iii)
          The levy of an attachment or the institution of execution proceedings against
          the whole or substantially all of Company’s assets, where such attachment
          or execution proceeding is not discharged within ninety (90) days. The Company
          shall notify the Lenders within seventy-two (72) hours of any such attachment
or           proceedings.  

     5.    
          Adjustments Each of the prices per share described above
          shall be adjusted for any share splits, issuance of bonus shares, combinations
          of shares, distribution of dividends and the like. 

     6.    
          Representations and Warranties. The Company hereby
          represents and warrants to the Lenders as of the date of the Closing hereof: 

         (a)       
          Organization and Qualification. The Company is a private company duly
          organized and incorporated on 22.12.91, validly existing under the laws of the
          State of Israel. The Company has all requisite corporate power and authority to
          carry on its business as now conducted and as proposed to be conducted
          under the Budget. No proceeding or resolution for bankruptcy, dissolution,
          liquidation, winding-up, appointment of receiver and/or similar proceeding has
          been instituted or taken by the Company, and to the best of its knowledge, no
          such proceeding has been instituted or threatened against the Company. 

         (b)       
          Capitalization. Immediately prior to the 1st Closing, the authorized
          share capital of the Company consists of NIS 56,000,000 divided into (i)
          30,000,000 Ordinary Shares, par value NIS 1 each, of which 1,067,013 Ordinary
          Shares are issued and outstanding and of which 4,313,007 are reserved for
          issuance to employees, consultants, officers, or directors of the Company and/or
          subsidiaries thereof pursuant to the Share Option Plans (such number not
          including 3,935 Ordinary Shares already issued upon past exercise of options
          granted to employees of the Company), of which 3,684,248 have been allocated and
          the remaining are available for future issuance, (ii) 3,500,000 Ordinary
          Preferred A Shares, par value NIS 1 each, of which 2,386,991 are issued and
          outstanding, (iii) 10,000,000 Ordinary Preferred B Shares, par value NIS 1 each,
          of which 9,000,062 are issued and outstanding, and (iv) 12,500,000 Series A-1
          Preferred Shares, par value NIS 1 each, of which 12,011,283 are issued and
          outstanding 

Following the 1st Closing, the
authorized share capital of the Company shall consist of NIS 73,500,000 divided into (i)
40,000,000 Ordinary Shares, par value NIS 1 each, of which 1,067,013 Ordinary Shares are
issued and outstanding and of which 4,313,007 are reserved for issuance to employees,
consultants, officers, or directors of the Company and/or subsidiaries thereof pursuant to
the Share Option Plans (such number not including 3,935 Ordinary Shares already issued
upon past exercise of options granted to employees of the Company), of which 3,684,248
have been allocated and the remaining are available for future issuance, (ii) 3,500,000
Ordinary Preferred A Shares, par value NIS 1 each, of which 2,386,991 are issued and
outstanding, (iii) 10,000,000 Ordinary Preferred B Shares, par value NIS 1 each, of which
9,000,062 are issued and outstanding, and (iv) 20,000,000 Series A-1 Preferred Shares, par
value NIS 1 each, of which 12,011,283 are issued and outstanding. 

The outstanding Ordinary Shares,
Ordinary-Preferred Shares and Preferred Shares, are all duly and validly authorized and
issued, fully paid and nonassessable and have been issued in accordance with the corporate
and securities laws of the State of Israel. 

         (c)       
          Since its incorporation, there has been no declaration or payment by the Company
          of dividends, or any distribution by the Company of any assets of any kind to
          any of its shareholders in redemption of or as the purchase price for any of the
          Company’s securities. 

         (d)       
          Authorization and Approvals. Subject to the provisions of this subsection
          (d), the Company has all requisite power and authority to execute, deliver, and
          perform this Agreement, and the other agreements contemplated hereby or which
          are ancillary hereto (the “Transaction Documents”). All
          corporate action on the part of the Company and its respective officers,
          directors and shareholders necessary for the authorization, execution and
          delivery of this Agreement and the Transaction Documents, the performance of all
          obligations of the Company hereunder has been taken or will be taken on or prior
          to the date of the 1st Closing or the 2nd, as applicable, and this Agreement,
          the Transaction Documents, and any obligations contemplated herein and therein
          constitute, or shall constitute upon the 1st Closing or the 2nd Closing, as the
          case may be, valid and legally binding obligations of the Company, enforceable
          in accordance with its terms. Upon obtaining the approvals mentioned hereinafter
          in this sub-section (d), the individuals executing this Agreement and the
          Transaction Documents on behalf of the Company have appropriate authority to act
          on behalf of the Company in connection with the Agreement. Except for (i) the
          approval of the Board of Directors, and (ii) the approval of shareholders of the
          Company, no approvals, permits or consents of, order, authorization of, action
          by, designation, declaration, or filing with any state or local governmental
          body, official authority, or any other third party is required on the part of
          the Company, under any applicable law or instrument in connection with the
          execution, delivery, and performance of this Agreement and the Transaction
          Documents, or the consummation of the transactions contemplated hereby and
          thereby which has not or will not be filed prior to 1st Closing or the 2nd
          Closing, as applicable. All such qualifications and filings will, in the case of
          qualifications, be effective on the date of the 1st Closing or the 2nd Closing
          and will, in the case of filings, be made within the time prescribed by law. 

         (e)       
          Valid Issuance of Shares The shares issued upon conversion of the Loan
          Amount or any part thereof in accordance with this Agreement shall, when issued
          as provided for herein, be duly authorized, validly issued and fully paid and
          shall be issued in compliance with all applicable laws, including Israeli
          securities laws, free of any pre-emptive rights or similar rights and free and
          clear of any taxes, liens or encumbrances. 

7.     Transfer;
Successors and Assigns. 

        The
terms and conditions of this Agreement shall inure to the benefit of and be binding upon
the respective successors and assigns of the parties. Notwithstanding the foregoing, none
of the rights or obligations set forth in, arising under, or created by this Agreement may
be assigned or transferred by any party without the prior consent in writing of the other
party and shall be subject to any limitations on transfer of shares set forth in the
Company’s Articles of Association, except that each of the Lenders may assign,
pledge, or otherwise transfer its interest under this Agreement to its Permitted
Transferees (as defined in the Company’s Articles of Association). 

8.     Governing
Law; Jurisdiction. 

        This
Agreement and all acts and transactions pursuant hereto and the rights and obligations of
the parties hereto shall be governed, construed and interpreted in accordance with the
laws of the State of Israel without regard to the conflict of law provisions thereof. Any
dispute arising in relation to this Agreement shall be resolved in the competent courts of
Tel-Aviv. 

9.     Amendments
and Waivers. 

        Any
term of this Agreement may be amended only with the written consent of the Company and all
the Lenders. Any amendment or waiver effected in accordance with this Section 9 shall be
binding upon the Company, the Lenders and each transferee of the Lenders. 

10.     Regulatory
Matters 

Anything to the contrary in this
Agreement not withstanding, it is agreed that in any event in which the Loan Amount due to
Poalim Ventures (as such term is defined in the Company’s Articles of Association, as
shall be amended from time to time), including any Interest accrued thereon, is to be
converted to shares of the Company in accordance with the terms and conditions hereunder,
such Loan Amount shall be converted only to the extent not increasing the shareholdings of
all of Poalim Ventures entities in the Company, in the aggregate, above the limitations
imposed on Poalim Ventures under any applicable law (as such applicable law shall be
notified to the Company by Poalim Ventures) and the remainder of the Loan Amount, if any,
shall continue to be outstanding subject to the terms and conditions hereunder. 

11.     Counterparts. 

        This
Agreement may be executed in any number of counterparts, each of which shall be deemed an
original but all of which together shall constitute one and the same instrument. 

     12.    
          Other Miscellaneous: (i) Entire Agreement – This
          Agreement constitutes the full and entire understanding and agreement between
          the parties with regard to the subject matter hereof. (ii) Severability:
          The terms and provisions of this Agreement are severable, and if any term or
          provision shall be determined to be in any way unenforceable in whole or in part
          pursuant to applicable law, such determination shall not impair or otherwise
          affect the validity, legality or enforceability of that term or provision in any
          other jurisdiction or any of the remaining terms and provisions of this
          Agreement in any jurisdiction, and any such provision shall be given effect to
          the extent legally possible. (iii) Preamble: The preamble hereto
          constitutes an integral part hereof. (iv) Headings: The titles of the
          sections and subsections of this Agreement are for convenience of reference
          only, and are not to be considered in construing this Agreement. (v)
          Notices: All notices required or permitted hereunder to be given to a
          party to this Agreement shall be in writing and shall be telecopied or mailed by
          registered or certified mail, postage prepaid, or otherwise delivered by hand or
          by messenger, 

	If to the Company:	Negevtech Ltd. 
12 Hamada St. Rehovotl, 736703, Israel 
Fax: ++972-8-9366051 
Tel: ++972-8-9312222 
Attn. Oz Desheh

If to any of the Lenders: The address
set forth on Annex A hereto, opposite each Lender’s name. 

[Negevtech
– October 2007 – 10M$ Bridge Loan] 

IN WITNESS WHEREOF, the parties have
executed this Agreement as of the date first above written. 

			Negevtech Ltd.

By:
——————————————

Name:
Title:

LENDERS: 

	
________________________

Name:___________________
Title:____________________	
________________________

Name:___________________
Title:____________________	
________________________

Name:___________________
Title:____________________
	
________________________

Name:___________________
Title:____________________	
________________________

Name:___________________
Title:____________________	
________________________

Name:___________________
Title:____________________
	
________________________

Name:___________________
Title:____________________	
________________________

Name:___________________
Title:____________________	
________________________

Name:___________________
Title:____________________

[Negevtech – October
2007 – 10M$ Bridge Loan]  

Annex A1 

List of Lenders &
First Loan Amount 

                                                       See attached table

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 Annex 1 

	
   

	
   

	
   

	
 5,000,000 

	
   

	
 List of Lenders & First Loan Amount 

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
 Name 

	
   

	
 % Issued &

  Outstanding on

  an as converted

  basis 

	
   

	
 $ Financing

  Pro-Rata

  Participation I 

	
   

	

	
   

	

	
   

	

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
 Pitango
  Venture Capital Fund III (Israeli Sub) L.P. 

	
   

	
   

	
 13.86 

	
 % 

	
   

	
 750,025 

	
   

	
 Pitango
  Venture Capital Fund III (Israeli Sub.) Non-Q L.P. 

	
   

	
   

	
 1.28 

	
 % 

	
   

	
 69,336 

	
   

	
 Pitango
  Venture Capital Fund III (Israeli Investors) L.P. 

	
   

	
   

	
 3.75 

	
 % 

	
   

	
 202,808 

	
   

	
 Pitango
  Parallel Investor Fund III (Israel), L.P 

	
   

	
   

	
 1.04 

	
 % 

	
   

	
 56,310 

	
   

	
 Pitango
  Principles Fund III (Israel) L.P. 

	
   

	
   

	
 0.49 

	
 % 

	
   

	
 26,401 

	
   

	
 Pitango
  Venture Capital Fund II Trusts 2000 L.P. 

	
   

	
   

	
 0.98 

	
 % 

	
   

	
 52,802 

	
   

	
 SVE Star
  Ventures Enterprises Gmbh & Co. No. IX KG. 

	
   

	
   

	
 9.81 

	
 % 

	
   

	
 530,692 

	
   

	
 Star
  Management of Investments No. II (2000) L.P. 

	
   

	
   

	
 1.27 

	
 % 

	
   

	
 68,739 

	
   

	
 Star Growth
  Enterprise, a German Civil Law Partnership (with limitation of Liability) 

	
   

	
   

	
 11.24 

	
 % 

	
   

	
 608,403 

	
   

	
 SVM Star
  Ventures Managmenttgesellschaft mbH Nr. 3 

	
   

	
   

	
 0.92 

	
 % 

	
   

	
 49,778 

	
   

	
 Genesis
  Partners II, L.D.C. 

	
   

	
   

	
 11.57 

	
 % 

	
   

	
 626,094 

	
   

	
 Genesis
  Partners II (Israel) L.P. 

	
   

	
   

	
 1.71 

	
 % 

	
   

	
 92,439 

	
   

	
 Poalim
  Ventures Ltd. 

	
   

	
   

	
 1.56 

	
 % 

	
   

	
 84,406 

	
   

	
 Poalim
  Ventures I Ltd. 

	
   

	
   

	
 2.40 

	
 % 

	
   

	
 129,855 

	
   

	
 Poalim
  Ventures II L.P. 

	
   

	
   

	
 4.87 

	
 % 

	
   

	
 263,281 

	
   

	
 Wellington
  Partners Venture III Technology Fund L.P. 

	
   

	
   

	
 13.26 

	
 % 

	
   

	
 717,766 

	
   

	
 Amadeus III 

	
   

	
   

	
 12.03 

	
 % 

	
   

	
 650,739 

	
   

	
 Amadeus III
  Affiliates Fund LP 

	
   

	
   

	
 0.37 

	
 % 

	
   

	
 20,126 

	
   

	
   

	
   

	

	

	
   

	

	

	
   

	
 Total 

	
   

	
   

	
 92.40 

	
 % 

	
   

	
 5,000,000  

	
   

	
   

	
   

	

	

	
   

	

	

	
   

Annex A2 

List of Lenders & Additional
Loan Amount 

                                                       See attached table

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 Annex 2 

	
   

	
   

	
   

	
 5,000,000 

	
   

	
 List of Lenders & Additional Loan Amount 

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
 Name 

	
   

	
 % Issued &

  Outstanding on

  an as converted

  basis 

	
   

	
 $ Financing

  Pro-Rata

  Participation II 

	
   

	

	
   

	

	
   

	

	
   

	
   

	
   

	
   

	
   

	
   

	
   

	
 Pitango
  Venture Capital Fund III (Israeli Sub) L.P. 

	
   

	
   

	
 13.86 

	
 % 

	
   

	
 750,025 

	
   

	
 Pitango
  Venture Capital Fund III (Israeli Sub.) Non-Q L.P. 

	
   

	
   

	
 1.28 

	
 % 

	
   

	
 69,336 

	
   

	
 Pitango
  Venture Capital Fund III (Israeli Investors) L.P. 

	
   

	
   

	
 3.75 

	
 % 

	
   

	
 202,808 

	
   

	
 Pitango
  Parallel Investor Fund III (Israel), L.P 

	
   

	
   

	
 1.04 

	
 % 

	
   

	
 56,310 

	
   

	
 Pitango
  Principles Fund III (Israel) L.P. 

	
   

	
   

	
 0.49 

	
 % 

	
   

	
 26,401 

	
   

	
 Pitango
  Venture Capital Fund II Trusts 2000 L.P. 

	
   

	
   

	
 0.98 

	
 % 

	
   

	
 52,802 

	
   

	
 SVE Star
  Ventures Enterprises Gmbh & Co. No. IX KG. 

	
   

	
   

	
 9.81 

	
 % 

	
   

	
 530,692 

	
   

	
 Star
  Management of Investments No. II (2000) L.P. 

	
   

	
   

	
 1.27 

	
 % 

	
   

	
 68,739 

	
   

	
 Star Growth
  Enterprise, a German Civil Law Partnership (with limitation of Liability) 

	
   

	
   

	
 11.24 

	
 % 

	
   

	
 608,403 

	
   

	
 SVM Star
  Ventures Managmenttgesellschaft mbH Nr. 3 

	
   

	
   

	
 0.92 

	
 % 

	
   

	
 49,778 

	
   

	
 Genesis
  Partners II, L.D.C. 

	
   

	
   

	
 11.57 

	
 % 

	
   

	
 626,094 

	
   

	
 Genesis
  Partners II (Israel) L.P. 

	
   

	
   

	
 1.71 

	
 % 

	
   

	
 92,439 

	
   

	
 Poalim
  Ventures Ltd. 

	
   

	
   

	
 1.56 

	
 % 

	
   

	
 84,406 

	
   

	
 Poalim
  Ventures I Ltd. 

	
   

	
   

	
 2.40 

	
 % 

	
   

	
 129,855 

	
   

	
 Poalim
  Ventures II L.P. 

	
   

	
   

	
 4.87 

	
 % 

	
   

	
 263,281 

	
   

	
 Wellington
  Partners Venture III Technology Fund L.P. 

	
   

	
   

	
 13.26 

	
 % 

	
   

	
 717,766 

	
   

	
 Amadeus III 

	
   

	
   

	
 12.03 

	
 % 

	
   

	
 650,739 

	
   

	
 Amadeus III
  Affiliates Fund LP 

	
   

	
   

	
 0.37 

	
 % 

	
   

	
 20,126 

	
   

	
   

	
   

	

	

	
   

	

	

	
   

	
 Total 

	
   

	
   

	
 92.40 

	
 % 

	
   

	
 5,000,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]