Document:

20-F

Exhibit 4.25  

AGREEMENT  

        THIS
AGREEMENT (the “Agreement”) is made and entered into as
of May __, 2005 (the “Effective Date”) by and between
Cornell Capital Partners, LP (“Cornell”), Elbit
Vision Systems, Ltd. (“EVS”) and David Gonzalez, Esq,
as escrow agent (“Escrow Agent”). 

RECITALS:  

        WHEREAS,
on August 26, 2004 (i) EVS executed a certain Promissory Note (the
“Note”) in favor of Cornell in the initial principal amount
of Four Million Dollars (US$4,000,000), and (ii) all of the parties hereto entered into a
certain Pledge and Escrow Agreement (the “Escrow Agreement); and 

        WHEREAS,
Butler Gonzalez LP, which acted as Escrow Agent under the Escrow Agreement, assigned its
rights and obligations under the Escrow Agreement to David Gonzalez, Esq., pursuant to
Section 13 of such Agreement; 

        WHEREAS,
the parties wish to amend the terms of the Note and have come to certain understandings
with respect to certain of the terms of the Escrow Agreement, which they wish to be
reflected in this Agreement 

        NOW,
THEREFORE, in consideration of the mutual covenants and agreements, herein contained,
and for other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties hereto agree as follows: 

	 	1. 	To
amend the terms of the Note as follows:  

	 	                  1.1 	Section
2a, of the Note is hereby amended by deletion of the following: 

“The principal amount of this Promissory
Note (“Note”) shall not accrue interest during the initial 120 days after the
date hereof. Interest shall accrue at a rate of 1% per 30 days for the subsequent 90 days
thereafter. Interest shall accrue at a rate of 2% per 30 days thereafter.” 

	 	1.2.	      Section
2b(i), (ii), (iii) and (iv) of the Note are hereby amended by their           entire
deletion and replacement with the following:  

     “2b.    
          Payment Schedule. The remaining amount repayable under this
          Note is $3,120,000. The Company shall pay the principal amount due hereunder in
          accordance with the repayment schedule set forth in Schedule
          A attached hereto. The principal amount shall bear interest per
          month at a rate equal to the sum of two percent (2%) and the then current Prime
          Rate, as quoted by the Wall Street Journal four days prior to any payment made
          by the Company, divided by twelve ({2%+then Prime Rate}/12). “ 

	 	1.3.	           Schedule
A hereto, shall become Schedule A to the Note.  

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	 	1.4.	          Except
as set forth herein, the provisions of the Note shall remain unchanged                and
in full force and effect.  

		2.            Return
of Advance Notices The parties acknowledge that forty-two           (42) of the
advance notices delivered by EVS to the Escrow Agent in accordance           with
Sections 4.1 and 7 of the Escrow Agreement (the “Advance           Notices”),
were delivered by the Escrow Agent to Cornell           pursuant thereto. The parties
hereby agree that upon the Effective Date, the           Escrow Agent shall return all
seven (7) of the of the Advance Notices remaining           unexpired in its possession
to EVS, immediately following which all of the           Escrow Agent’s obligations
under Section 4 and 7 of the Escrow Agreement           shall cease. Except as set forth
herein, the provisions of the Escrow Agreement           shall remain unchanged and in
full force and effect.  

		3.           Binding
Effect. All of the covenants and obligations contained           herein shall be
binding upon and shall inure to the benefit of the respective           parties, their
successors and assigns.  

		4.           Governing
Law; Venue; Service of Process. The validity,           interpretation and
performance of this Agreement shall be determined in           accordance with the laws
of the State of New Jersey applicable to contracts made           and to be performed
wholly within that state except to the extent that Federal           law applies. The
parties hereto agree that any disputes, claims, disagreements,           lawsuits,
actions or controversies of any type or nature whatsoever that,           directly or
indirectly, arise from or relate to this Agreement, including,           without
limitation, claims relating to the inducement, construction, performance           or
termination of this Agreement, shall be brought in the state or Federal           courts
located in Hudson County, New Jersey, and the parties hereto agree not to
          challenge the selection of that venue in any such proceeding for any reason,
          including, without limitation, on the grounds that such venue is an
inconvenient           forum.  

		5.           Counterparts. This
Agreement may be executed in one or more           counterparts, each of which shall be
deemed an original, but all of which           together shall constitute the same
instrument.  

		6.           Entire
Agreement. This Agreement constitutes the entire           agreement
between the parties hereto and supersedes all prior agreements,           understandings
and arrangements, oral or written, between the parties hereto           with respect to
the subject matter hereof. No agreement or representations, oral           or otherwise,
express or implied, with respect to the subject matter hereof have           been made
either party which are not expressly set forth in this Agreement.  

[Remainder
of this page intentionally left blank] 

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

	EVS:                           

ELBIT VISION SYSTEMS, LTD.     

By:             /s/ Yaky Yanay                           

Name: __________________________

Title:      CFO                                               

ESCROW AGENT                   

                               

                               

By:      /s/ David Gonzalez

Name:    David Gonzalez, Esq.
	Cornell:

CORNELL CAPITAL PARTNERS, LP

By:        Yorkville Advisors, LLC

Its:       General Partner

By:  /s/ Mark Angelo & /s/ Matt Beckman
—————————————————

Name:      Mark Angelo              Matt Beckman

Title:     Portfolio Manager       Managing Partner

3

SCHEDULE A 

Repayment Schedule 

420-F

Exhibit 10.1  

Consent of
Independent Public Accountants 

We hereby consent to the
incorporation by reference in the registration statements of Elbit Vision Systems Ltd.
(the “Company”), on Form F-3 (File No. 333-114153) and on Form S-8 (File
No.333-12456), and each prospectus constituting a part thereof, of our report dated June
25, 2003, relating to the consolidated financial statements of the Company included in
this Annual Report on Form 20-F for the year ended December 31, 2004. 

/s/ Luboshitz Kasierer

An Affiliate Member of Ernst & Young International

Tel-Aviv, Israel

July 13, 200520-F

Exhibit 10.2  

CONSENT OF
INDEPENDENT ACCOUNTANTS 

We hereby consent to the
incorporation by reference in the Registration Statements, on Form S-8 (file No.
333-12456) and on Form F-3 (file No. 333-114153), of Elbit Vision Systems Ltd., of our
report dated July 14, 2005, relating to the consolidated financial statements, which
appears in this form 20-F. 

/s/ KESSELMAN & KESSELMAN, certified public accountants

Tel-Aviv, Israel

July 14, 2005

Haifa, Israel

July 14, 200520-F

Exhibit 10.3  

Consent of Independent
Registered Public Accounting Firm 

We consent to the incorporation by
reference in the following Registration Statements: 

	 	(1)	   Registration
Statements (Form S-8 File No.333-12456) of Elbit Vision Systems           Ltd.and 

	 	(2)	       Registration
Statement (Form F-3 No. 333-114153) of Elbit Vision Systems Ltd; 

of our report dated July 8, 2005,
with respect to the financial statements of Yuravision Co., Ltd., included in this Annual
Report (Form 20-F) of Elbit Vision Systems Ltd. for the year ended December 31, 2004. 

/s/ Ernst & Young Hang Young,

Seoul, Korea

July 14, 200520-F

Exhibit 4.10  

Summary Translation
(from Hebrew) 

Lease agreement dated
December 9, 2004 by and between
Crow Electronic Engineering Ltd. (Orev) and E.A.
Barzili Investments and
 Assets Ltd. (Lessor) 

	1.  	The
lease agreement provides for the lease by Orev of a two storey building in
               Airport City, Israel, consisting of first floor in the area of 1,787 sqm
and                second floor in the area of 1,740 sqm, including office space of 1,240
sqm and                patio of 500 sqm (in addition there is also an intermediate floor
in the area of                approximately 600 sqm and basement in the area of
approximately 1,700 sqm which                are conditional upon receiving various
building permits and approvals). 

	2.  	The
agreement is for an initial term of seven years commencing as of April 1,
               2005 and end on March 31, 2012 with an option to Orev to extend the term
of the                lease by two further periods of five years each. 

	3.  	The
monthly rental fees owed by Orev for the lease of the premises during the
               first five years is the sum of $28,400, plus VAT (and if a permit to the
               basement is granted, including an additional sum of $1,500) (the
               “Monthly Basic Rental Fees”). The Monthly Basic Rental
Fees                shall be increased during the sixth and seventh years in up to 5%. During
the eighth,                ninth and tenth years, the Monthly Basic Rental Fees shall
increase in up to 7.5%,                during the eleventh and twelfth years, the Monthly Basic
Rental Fees shall be                increased in up to 10%. The monthly rental fees for the
second option period shall be                determined mutually by the parties no later
than 120 days prior to the                expiration of the first option period and in
the event of a disagreement between                the parties, a jointly appointed
assessor shall determine the monthly rental                fees and his determination
shall be final and binding without derogating from                the entitlement of Orev
whether to exercise its option. 

4. The monthly
rental fees shall be paid by Orev during the first two years on a
               semi-annual basis and as of the third year, on a quarterly basis.  

	5.  	In
addition, Orev shall pay management fees to an independent management
               company, in respect of maintaining the Airport City industrial area site
               calculated at the rate of NIS 4.5 per sqm leased by Orev per month. 

	6.  	Orev
shall pay an advance on the monthly rental fees in the sum of $85,200
               representing three monthly rental fees and shall provide the Lessor with a
bank                guarantee in the sum representing three monthly rental fees (which
shall be                replaced at the end of the third year of leasing, by a new bank
guarantee equal                to six monthly rental fees). 

	7.  	The
new premises shall be refurbished according to plans and specifications
               attached as exhibits A and B to the lease agreement. It is agreed that the
               monthly rental fees are based on a budget of US$1,250,000 to be expended
by the                Lessor for the refurbishment of the premises. In addition, Orev
shall pay, upon                signature of the lease agreement the sum of US$30,000 as
its participation part                in the refurbishment of the premises.The
Lessor shall be solely                responsible for the refurbishment. 

	8.  	The
lease agreement may not be assigned by Orev to any third party, except to
               any of its affiliates, without the prior written consent of the Lessor,
which                shall not be unreasonably withheld. 

	9.  	The
agreement is conditioned upon approval of the board of directors of Orev and
               the signature by the Lessor, within ten days after the consent of the
board as                mentioned above, on a purchase agreement for the purchase of
building rights for                the intermediate floor from a third party, in the area
of 600 sqm. 

	10.  	The
agreement may be terminated by Orev, among other things, if a building
               permit for the basement and the intermediate floor is not obtained within
the                time stipulated in the agreement.

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