Document:

Exhibit

CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a request for confidential treatment and, where applicable, have been marked with an asterisk (“[***]”) to denote where omissions have been made. The confidential material has been filed separately with the Securities and Exchange Commission.

AMENDMENT NO. 2 TO
SUPPLY AGREEMENT
FOR PANTHER INSTRUMENT SYSTEM

This Amendment No. 2 (this “Amendment No. 2”) is effective as of February 28th, 2013 (the “Amendment Effective Date”) pursuant to and amending the Supply Agreement for Panther Instrument System dated November 22, 2006 (as amended, the “Supply Agreement”) by and between Gen-Probe Incorporated, a Delaware corporation (“Gen-Probe”), and STRATEC Biomedical AG (“STRATEC”, formerly operating under Stratec Biomedical Systems AG).  Capitalized terms used but not defined herein shall have the meanings given to such terms in the Supply Agreement.  Capitalized terms used ,but not defined herein, or in the Supply Agreement shall have the meanings given to such terms in Amendment Six to the Development Agreement.

RECITALS

WHEREAS, concurrently with entering into the Supply Agreement, Gen-Probe and STRATEC entered into a Development Agreement for Panther Instrument System dated November 22, 2006 (as amended, the “Development Agreement”);

WHEREAS, Gen-Probe has requested that STRATEC design and develop (a) a new sidecar module for Gen-Probe’s existing Panther instrument which will expand the Panther’s capabilities to support polymerase chain reaction (“PCR”) based diagnostic assays in addition to the system’s existing diagnostic capabilities, (b) a kit to retrofit Gen-Probe’s current diagnostic Panther instruments to modify such systems as necessary or appropriate to incorporate and run the newly developed PCR sidecar module in addition to the system’s existing diagnostic capabilities, and (c) certain modifications to Gen-Probe’s existing Panther instrument necessary and appropriate to manufacture Panther instruments pursuant to the Supply Agreement on a going-forward basis that would not require a retrofitting kit in order to incorporate the newly developed PCR sidecar module and run PCR based diagnostic assays in addition to the system’s existing diagnostic capabilities;

WHEREAS, concurrently with the execution of this Amendment No. 2, the Parties are entering into Amendment No. 6 to the Development Agreement dated as of February 28th, 2013 (“Development Agreement Amendment Six”) to provide for the implementation of the foregoing design and development activities;

WHEREAS, the parties wish to amend the Supply Agreement to provide for the manufacture and supply of Radium Instruments (as defined in the Development Agreement Amendment Six), subject to the successful completion of such design and development activities pursuant to Development Agreement Amendment Six; and

WHEREAS, the Parties intend that the Supply Agreement will govern the terms and conditions of the manufacturing and supply activities to be performed hereunder, except to the extent specifically provided for otherwise herein.

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CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a request for confidential treatment and, where applicable, have been marked with an asterisk (“[***]”) to denote where omissions have been made. The confidential material has been filed separately with the Securities and Exchange Commission.

AGREEMENT

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

ARTICLE 1
DEFINITIONS

1.1    Definition Modifications.  The following definitions within the Supply Agreement shall be modified as set forth below only for purposes of this Amendment No. 2 and the manufacturing and supply activities to be conducted hereunder:

1.1.1    “Product Specifications” shall mean the specifications for each of the Products, including such exterior colors, trade names, trademarks and other markings as Gen-Probe shall request, and performance specifications to be used for testing the Products delivered hereunder, all as set forth in the Product Requirements Document (PRD) attached as Exhibit B-1 to the Development Agreement Amendment Six (and as it may be subsequently revised in accordance with the terms of Development Agreement Amendment Six).

1.1.2    “Product” shall mean, individually and collectively, the Production Radium Instrument as well as the associated consumables, accessories, Instrument Software, supplies and spare parts.  The module “Thermocycler” is solely designed, developed and manufactured by Gen-Probe and provided to Stratec who incorporates it into the Product.  Therefore, Sections 3.2, 3.3, 3.7, 7.3 and 7.5 of the Supply Agreement shall not apply to the Thermocycler.  Products shall be marketed by Gen-Probe under its own trade names and trademarks.  Whenever “Product” is referred to hereunder with economic implications to either Party, the Parties agree that the term “Product” shall be understood in the following order beginning with: software – parts of assemblies – sub-assemblies – assemblies – instrument – system.

1.1.3    “Thermocycler” shall mean the module for ramping up and down the temperature of the prepared samples and measuring the reaction performance of the PCR (polymerase chain reaction) through florescence detection.  The Thermocycler for the Radium Instrument is solely designed, developed and manufactured by Gen-Probe and provided to Stratec.  The Thermocycler shall fulfill all interfacing requirements given by Gen-Probe to Stratec in order for such Thermocycler to be integrated into the Radium Instrument by Stratec.

1.1.4    “Production Radium Instrument” as used herein, “Production Radium Instrument” means a Radium Instrument manufactured by Stratec using series-level manufacturing techniques, following successful completion of the Parties’ activities under Development Agreement Amendment Six and Gen-Probe’s validation of the Radium Instrument design during performance of Development Agreement Amendment Six, in accordance with the PRD.

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CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a request for confidential treatment and, where applicable, have been marked with an asterisk (“[***]”) to denote where omissions have been made. The confidential material has been filed separately with the Securities and Exchange Commission.

		
	1.2
	Amendment to Existing Supply Agreement Definition.

1.2.1    Section 1.15 of the Supply Agreement shall be amended and restated in its entirety to read as follows:

“1.15    Term – As used herein, “Term” or “Term of this Agreement” means the period of effectiveness of this Agreement, which shall commence on the Effective Date and end on the date which is the later of (a) fifteen (15) years after the Effective Date or (b) six years after the date on which the first commercial placement of the Production Radium Instrument is made in the United States of America, unless extended or terminated earlier as set forth in Article 12.”

ARTICLE 2
PRODUCTION AND SUPPLY

2.1    Production and Supply.  For the avoidance of doubt, the parties acknowledge and agree that Section 2.1 of the Supply Agreement, as amended hereby, shall apply to the manufacture and supply of Radium Instruments hereunder as if set forth in its entirety herein with such changes thereto as are necessary to make such Section applicable to the manufacture and supply of Radium Instruments.

Section 2.1 of the Supply Agreement shall be amended by adding the following additional sentence to the end of Section 2.1:

“For the avoidance of doubt, the Parties acknowledge and agree that the Minimum Annual Purchase Commitment (which, for the avoidance of doubt, applies to the purchase of the Production Instrument and not to the purchase of the Production Radium Instrument) shall expire in calendar year 2016 and shall not apply to any calendar year thereafter during the Term of the Agreement.”

Additionally, Section 2 of the Supply Agreement shall be amended by adding a new Section 2.2 thereto as follows:

2.2    Minimum Sidecar Purchase Commitments.  For purposes of this Amendment No. 2 only, Gen-Probe agrees to purchase a minimum of [***] production-level Sidecars (the “Minimum Sidecar Purchase Commitment”) during the period ending on the date which is six years following the date on which the first commercial placement of the Production Radium Instrument is made in the United States of America.  If Gen-Probe fails to satisfy the foregoing aggregate purchase commitment during the aforesaid period, Gen-Probe shall pay STRATEC, as STRATEC‘s sole and exclusive remedy therefor, [***] for each Sidecar below the Minimum Sidecar Purchase Commitment Gen-Probe has failed to purchase.

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CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a request for confidential treatment and, where applicable, have been marked with an asterisk (“[***]”) to denote where omissions have been made. The confidential material has been filed separately with the Securities and Exchange Commission.

ARTICLE 3
REGULATORY MATTERS AND PRODUCT CERTIFICATIONS

For the avoidance of doubt, the parties acknowledge and agree that the entirety of Article 3 of the Supply Agreement shall apply to the manufacture and supply of Radium Instruments hereunder as if set forth in its entirety herein with such changes thereto as are necessary to make such Article applicable to the manufacture and supply of Radium Instruments.

ARTICLE 4
MANUFACTURING, LABELLING, AND PRODUCT LITERATURE

For the avoidance of doubt, the parties acknowledge and agree that the entirety of Article 4 of the Supply Agreement shall apply to the manufacture and supply of Radium Instruments hereunder as if set forth in its entirety herein with such changes thereto as are necessary to make such Article applicable to the manufacture and supply of Radium Instruments.

ARTICLE 5
FORECASTS, ORDERS AND DELIVERIES

For the avoidance of doubt, the parties acknowledge and agree that the entirety of Article 5 of the Supply Agreement shall apply to the manufacture and supply of Radium Instruments hereunder as if set forth in its entirety herein with such changes thereto as are necessary to make such Article applicable to the manufacture and supply of Radium Instruments; provided, however, that the reference therein to “Incoterms 2000” shall be null and void and replaced by “Incoterms in its latest revision”.

ARTICLE 6
PRICING AND PAYMENT TERMS

6.1    Pricing.  The second sentence of Section 6.1 of the Supply Agreement is hereby deleted and replaced with the following:

“The combined transfer price of the Sidecar and Retrofit Kit, excluding the Thermocycler, shall be [***].  The combined transfer price of the Production Radium Instrument, excluding the Thermocycler, shall be [***].”

For the avoidance of doubt, the parties acknowledge and agree that the remainder of Section 6.1 and Article 6 of the Supply Agreement shall apply to the manufacture and supply of Radium Instruments hereunder as if set forth in its entirety herein with such changes thereto as are necessary to make such Section and Article applicable to the manufacture and supply of Radium Instruments.

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CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a request for confidential treatment and, where applicable, have been marked with an asterisk (“[***]”) to denote where omissions have been made. The confidential material has been filed separately with the Securities and Exchange Commission.

ARTICLE 7
TRAINING, SPARES AND SERVICE SUPPORT

For the avoidance of doubt, the parties acknowledge and agree that Article 7 of the Supply Agreement shall apply to the manufacture and supply of Radium Instruments hereunder as if set forth in its entirety herein with such changes thereto as are necessary to make such Article applicable to the manufacture and supply of Radium Instruments; provided, however, that Sections 7.4, 7.5, 7.6 shall not apply to the Thermocycler.

ARTICLE 8
SOFTWARE

For the avoidance of doubt, the parties acknowledge and agree that Article 8 of the Supply Agreement shall apply to the manufacture and supply of Radium Instruments hereunder as if set forth in its entirety herein with such changes thereto as are necessary to make such Article applicable to the manufacture and supply of Radium Instruments.

ARTICLE 9
PRODUCT WARRANTY AND REPRESENTATIONS

For the avoidance of doubt, the parties acknowledge and agree that Article 9 of the Supply Agreement, as amended hereby, shall apply to the manufacture and supply of Radium Instruments hereunder as if set forth in its entirety herein with such changes thereto as are necessary to make such Article applicable to the manufacture and supply of Radium Instruments.

Additionally, Article 9 of the Supply Agreement shall be amended by adding a new Section 9.5 thereto as follows:

9.5    Warranty Disclaimer.  ALL WARRANTIES BY STRATEC, EXPRESS OR IMPLIED, AS SET FORTH HEREUNDER (INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, AND RELIABILTY), RELATING TO ANY FAILURE IN THE DEVELOPMENT AND/OR DESIGN AS WELL AS THE MANUFACTURE AND PERFORMANCE AND/OR OPERATION OF EACH THERMOCYCLER PROVIDED TO STRATEC HEREUNDER BY OR ON BEHALF OF GEN-PROBE ARE DISCLAIMED BY STRATEC AND SHALL NOT APPLY.  THE FOREGOING SHALL ALSO APPLY TO ANY FAILURE OR DEFECT OF THE PRODUCT WHICH ARISES OUT OF OR IS PRIMARILY ATTRIBUTABLE TO ANY FAILURE IN THE DEVELOPMENT AND/OR DESIGN AS WELL AS THE MANUFACTURE AND PERFORMANCE AND/OR OPERATION OF EACH THERMOCYCLER PROVIDED TO STRATEC HEREUNDER BY OR ON BEHALF OF GEN-PROBE.

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CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a request for confidential treatment and, where applicable, have been marked with an asterisk (“[***]”) to denote where omissions have been made. The confidential material has been filed separately with the Securities and Exchange Commission.

ARTICLE 10
INDEMNIFICATION AND INSURANCE

For the avoidance of doubt, the parties acknowledge and agree that Article 10 of the Supply Agreement, as amended hereby, shall apply to the manufacture and supply of Radium Instruments hereunder as if set forth in its entirety herein with such changes thereto as are necessary to make such Article applicable to the manufacture and supply of Radium Instruments.

Additionally, Section 10.1.a of the Supply Agreement shall be amended by adding new Sections 10.1.a.4 and 10.1.a.5 thereto as follows:

10.1.a.4.  Notwithstanding the provisions set forth in Section 10.1.a.2, if any infringement claim arises out of or results from Gen-Probe’s design, development and/or manufacture of the Thermocycler or the use thereof, either solely or in combination with other products or technology, and if the Thermocycler is in any suit or proceeding held to constitute infringement of any patents or proprietary rights of any third party and the further manufacture, sale and/or use thereof is enjoined, Gen-Probe shall, in its sole discretion and at its sole expense and in compliance with all of the terms of this Amendment No. 2 either (i) procure for Stratec the right to continue using such Thermocycler; (ii) replace the same with a non-infringing equivalent; or (iii) modify the Thermocycler so it becomes non-infringing.

10.1.a.5.  Notwithstanding the provisions set forth in Section 10.1.a.3, the indemnification obligations thereunder shall not apply to the extent that the failure of Production Radium Instruments to comply with the Reliability Requirements arise out of or is primarily attributable to any failure in the development and/or design as well as the manufacture and performance and/or operation of the Thermocycler.

ARTICLE 11
CONFIDENTIAL INFORMATION

For the avoidance of doubt, the parties acknowledge and agree that Article 11 of the Supply Agreement shall apply to the manufacture and supply of Radium Instruments hereunder as if set forth in its entirety herein with such changes thereto as are necessary to make such Article applicable to the manufacture and supply of Radium Instruments.

ARTICLE 12
TERM AND TERMINATION

For the avoidance of doubt, the Parties acknowledge and agree that, except as set forth below with respect to the addition of new Section 12.8, the terms of Article 12 of the Supply Agreement shall in no way be affected or amended hereby.  The Parties expressly acknowledge and agree that all obligations and liabilities under this Amendment No. 2 are expressly conditioned on the successful completion of the Radium Development Activities and Gen-Probe’s validation of the Radium Instrument in accordance with the PRD pursuant to Development Agreement Amendment Six.  Any termination of Development Agreement Amendment Six in accordance with its terms 

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CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a request for confidential treatment and, where applicable, have been marked with an asterisk (“[***]”) to denote where omissions have been made. The confidential material has been filed separately with the Securities and Exchange Commission.

shall also automatically terminate this Amendment No. 2, without liability to the terminating party except as set forth in Development Agreement Amendment Six.

Additionally, Article 12 of the Supply Agreement shall be amended by adding a new Section 12.8 thereto as follows:

12.8    Termination After Satisfaction of Minimum Sidecar Purchase Commitment.  If, after satisfaction of the Minimum Sidecar Purchase Commitment, (i) this Agreement is not renewed by either party as contemplated by Section 12.1 hereof or (ii) this Agreement is terminated by Gen-Probe pursuant to Section 12.2 (Termination for Material Breach) or Section 12.3 (Termination in the Event of Insolvency), then Gen-Probe shall have the right to continue production of the Sidecar and the Retrofit Kit (excluding modules contained within the bill of material for the Panther instrument) without Stratec (either by itself or through a third party contract manufacturer) and Stratec shall reasonably cooperate in transferring production to Gen-Probe or such other third party contract manufacturer and shall provide all assistance reasonably necessary in connection therewith (including the delivery of documentation and materials reasonably necessary to permit continued manufacturing), provided that Gen-Probe shall reimburse Stratec for its actual documented costs and expenses in connection with providing such support, without markup of any kind.  In such event, Stratec grants to Gen-Probe a non-exclusive license under any and all Stratec IP Rights (as such term is defined in the Development Agreement) relating to the Radium Development Activities (including, but not limited to, the Sidecar and/or the Retrofit Kit), including, without limitation, source code, to make, have made, import, export, use, offer for sale, have sold and sell the Radium Instrument.  The license granted hereunder shall be royalty-bearing at a rate of (x) [***] per Radium Instrument sold for the first [***] Radium Instruments sold and (y) [***] per Radium Instrument sold after the first [***] Radium Instruments sold.  For the avoidance of doubt, the Parties acknowledge and agree that this Section 12.8 would allow Gen-Probe to continue the manufacture of the Sidecar and the Retrofit Kit (excluding modules contained within the bill of material for the Panther instrument) but not the Panther.

ARTICLE 13
MISCELLANEOUS

13.1    General.  For the avoidance of doubt, the parties acknowledge and agree that the entirety of Article 13 of the Supply Agreement, as amended hereby, shall apply to the manufacture and supply of Radium Instruments hereunder as if set forth in its entirety herein with such changes thereto as are necessary to make such Article applicable to the manufacture and supply of Radium Instruments.

Additionally, Section 13 of the Supply Agreement shall be amended by adding a new Section 13.21 thereto as follows:

13.21    Performance by Stratec Affiliates.  Upon the prior written consent of Gen-Probe, one or more of Stratec’s Affiliate(s) may become a party to the Agreement and may provide Services to Gen-Probe under the Agreement.  The execution of an agreement by any Stratec Affiliate and Gen-Probe in the name of such Stratec Affiliate, specifically referencing the 

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CONFIDENTIAL TREATMENT REQUESTED: Certain portions of this document have been omitted pursuant to a request for confidential treatment and, where applicable, have been marked with an asterisk (“[***]”) to denote where omissions have been made. The confidential material has been filed separately with the Securities and Exchange Commission.

Agreement, is the agreement by and between the applicable Stratec Affiliate and Gen-Probe that such agreement is subject to the terms and conditions of this Agreement.

13.2    Counterparts.  This Amendment No. 2 may be executed in one or more counterparts, each of which will be deemed to be an original, but all of which together will constitute one and the same instrument; however, this Amendment No. 2 shall have no force or effect until executed by both parties.

13.3    Effect on Supply Agreement.  All other terms and conditions of the Supply Agreement, as amended, shall remain in full force and effect.  To the extent any conflict arises between the terms of this Amendment No. 2 and the terms of the Supply Agreement, the terms of this Amendment No. 2 shall control but only with respect to the manufacture and supply of Radium Instruments hereunder.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the Amendment Effective Date:

	
			
	GEN-PROBE INCORPORATED
	 
	STRATEC BIOMEDICAL AG

	 
	 
	 

	/s/ Robert A. Cascella
	 
	/s/ Marcus Wolfinger

	Name:  Robert A. Cascella
	 
	Name:  Marcus Wolfinger

	Title:    President
	 
	Title:    Chief Executive Officer

	 
	 
	 

    

    

8Exhibit

 

CONVERTIBLE
LOAN AGREEMENT

 

THIS
CONVERTIBLE LOAN AGREEMENT is made and entered into as of the 10 day of October 2016, by and between EZTD Inc. (formerly known
as Win Global Markets Inc.) a Delaware corporation having an address at 6 Yehezkel Koifman Street, Tel-Aviv, Israel (the "Company"
or the "Borrower"), and FINANDREA S.P.A a company organized under the laws of Italy, having an address at Via
della Rocca no.24/bis, 10123 Torino, Italy (the "Lender"), (each of Borrower and Lender shall also be referred
to herein as a "Party", and collectively, the "Parties").

 

W I T N E S S E T H :

 

WHEREAS,
at the request of the Borrower, the Lender has agreed to make available to the Borrower, and the Borrower desires to receive from
the Lender, a loan in the aggregate principal amount of EUR 1,000,000, convertible into shares of Common Stock of the Borrower,
subject to and in accordance with the terms and conditions set forth in this Agreement;

 

WHEREAS,
the Parties wish to set forth and memorialize their mutual rights and obligations with respect to the loan, as set forth herein.

 

NOW
THEREFORE, in consideration of the mutual promises and covenants contained herein, the Parties hereby agree as follows:

 

	1.	Definitions and Interpretation

 

1.1.         The
preamble to this Agreement forms an integral and a binding part of this Agreement.

 

1.2.         The
titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting
this Agreement. All references in this Agreement to sections, paragraphs and exhibits shall, unless otherwise provided, refer
to sections and paragraphs hereof and exhibits attached hereto.

 

1.3.         In
addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement the following terms shall have the
meanings given to them in this Section 1.3:

 

1.3.1.       "Agreement"
means this Agreement, including all annexes, exhibits, appendices and schedules hereto as the same may hereafter be amended,
modified or supplemented from time to time.

 

1.3.2.       "Business
Day" means the day on which commercial banks in London, U.K. are open to the public.

 

1.3.3.       "Conversion
Date" means 29th of December 2016. 

 

    	 	1	 

     

    

 

1.3.4.       "Conversion
Shares" means 160,045 shares of Common Stock, par value $0.03 per share, of the Company, subject to the requirements
of Section 3.1.2 below.

 

1.3.5.       "Event
of Default" means an event or circumstance specified as such in Section 6 (Default) herein provided that in each
case an Event of Default shall occur only after the expiration of any applicable cure period as set forth in Section 6 (Default)
(if any) and the Default is continuing.

 

1.3.6.       "Governmental
Authority" means any governmental, legislative, regulatory or administrative body, agency or authority, any court of
judicial authority, any arbitrator or any public, regulatory authority, whether international, national, state, municipal or local.

 

1.3.7.       "Law" means any statute, law, regulation, treaty, rule, official directive
or guideline of any Governmental Authority, or any interpretation of any of the foregoing by any Governmental Authority.

 

	2.	Loan Terms

 

2.1.         Grant
of Loan

 

2.1.1.      Subject
to the terms and conditions hereof and within three (3) Business Days following the date hereof (the "Closing"),
the Lender shall grant the Company a loan in the principal amount of EUR 1,000,000 (One Million Euro), (the "Loan"
or "Loan Amount").

 

2.1.2.      The
Loan Amount shall be wired to the Borrower by bank wire transfer to a bank account the details of which shall be provided to the
Lender at the Closing.

 

2.2.         Interest.
The Loan Amount shall bear interest at an annual rate of 8% (eight percent) (calculated on the basis of the actual number
of days elapsed and a 360 (three hundred and sixty) day year). The Interest shall be due and payable on each Repayment Date.

 

2.3.         Repayment.
The Company shall repay the Loan Amount and all then accrued and unpaid interest in two installments, by no later than the
dates specified below:

 

EUR
500,000 (Five Hundred Thousand Euro) on the 29th of December 2016

EUR
500,000 (Five Hundred Thousand Euro) on the 31st of March 2017

 

(the
"Repayment Dates" and each a “Repayment Date”), subject to the Company's right to prepay the Loan
in accordance with Section 2.5 herein.

 

2.4.         Payments.
All payments to be made by the Company to the Lender in connection with the Loan, including any repayment, prepayment, payment
of Interest, fees and all other amounts required to be paid to the Lender under this Agreement, together with VAT (to the extent
applicable), shall be made in EUR by bank transfer to an account designated in writing by the Lender.

 

2.5.         Prepayment. The Borrower shall have the right to prepay the Loan Amount including
any accrued and unpaid interest, in full or in part, at any point prior to the last Repayment Date.

 

    	 	2	 

     

    

 

2.6.         Observer Status. The Lender shall have the right to participate, in person or
remotely via conference call, as a non-voting observer in every board meeting that the Borrower will hold between the Closing
and such date as the Borrower’s shares of common stock are listed on NASDAQ, and to receive information and materials provided
to the Board of Directors in connection therewith provided, however, that the Board of Directors of the Borrower (the "Board")
shall have the right to exclude such Borrower or its representatives from any meetings of the Board or from receiving any information
and materials (or the relevant portions thereof) to the extent that the Board or the Company’s legal counsel determines
that such exclusion is necessary or desirable to avoid a potential or perceived conflict of interest or to protect attorney-client
privilege. Notice of the time, date and place of all board meetings shall be given to the Lender by e-mail with written confirmation
of receipt at least 96 hours in advance of any such meetings.

 

	3.	Conversion
    and Lender's Rights 

 

	 	3.1.
    	Repayment
    Conversion.

 

3.1.1.       Upon:
(i) the Conversion Date or any time thereafter, or (ii) the occurrence of an Event of Default, and at any time thereafter as long
as such Event of Default is continuing, the Lender shall have the right (but not the obligation), by written notice to the Borrower
(the "Conversion Notice"), to convert all or part of the principal amount of the Loan outstanding at such time,
including any accrued and unpaid interest into the Conversion Shares or a pro rata portion thereof in case of partial conversion
(the "Repayment Conversion").

 

3.1.2.       The
Repayment Conversion shall occur upon the delivery of the Conversion Notice, whereupon the Conversion Shares or pro rata portion
thereof, as applicable, shall be validly issued in the name of the Lender, fully-paid, free and clear of any liens, encumbrances,
claims or third party rights of any kind.

 

3.1.3.       Upon
the issuance in the name of the Lender of the Conversion Shares or a pro rata portion thereof, as applicable, under the Repayment
Conversion hereunder: (i) the Company shall be deemed to have discharged any and all obligations or a pro rata portion thereof,
as applicable, with respect to the principal amount of the Loan, (ii) the Interest accrued and unpaid prior to the Repayment Conversion
shall be paid by the Company to Lender upon such Conversion of Shares date, and (iii) the Lender shall not be entitled to further
Interest or to any other payment hereunder as of the date of the Repayment Conversion, except as set forth herein.

 

3.1.4.       In
connection with any conversion of all or part of the principal amount of the Loan outstanding into Conversion Shares under this
Agreement, such amount of the Loan to be converted (the “Conversion Amount”) shall be convertible into that
number of Conversion Shares that is equal to the Conversion Amount divided by US $7.00.

 

    	 	3	 

     

    

 

	4.	Representations and Warranties of the Company

 

4.1.         The
Company is duly organized and validly existing under the laws of its jurisdiction of incorporation, and has the full power and
authority to consummate the transactions contemplated hereunder.

 

4.2.         The
consummation of the transactions contemplated hereunder and the performance of this Agreement by the Company do not violate
the provisions of its corporate documents, or any applicable Law, and will not result in any breach of, or constitute a
default under, any agreement or instrument to which it is a party or under which it is bound.

 

4.3.         The
execution and performance of this Agreement by the Company have been duly authorized by all necessary actions, and this
Agreement has been duly executed and delivered by the Company. This Agreement is valid and binding upon the Company and
enforceable in accordance with its terms.

 

4.4.         This
Agreement, when executed and delivered by or on behalf of the Company, will constitute the valid and legally binding obligations
of the Company, legally enforceable against the Company in accordance with their respective terms.

 

4.5.         The
shares issuable upon conversion of the Loan pursuant to Section 3.1 of this Agreement will be duly authorized and upon issuance
in accordance with this Agreement will be validly issued, fully paid, and non-assessable, free and clear of any liens or encumbrances
of any kind.

 

4.6.         Other
than as explicitly set forth under this Section 4, the Company makes no other representations and warranties with respect to any
transaction contemplated herein. 

 

	5.	Representations and Warranties of the Lender 

 

5.1.         The
Lender is duly organized and validly existing under the laws of its jurisdiction of incorporation, and has the full power and
authority to consummate the transactions contemplated hereunder.

 

5.2.         The
consummation of the transactions contemplated hereunder and the performance of this Agreement by the Lender do not violate the
provisions of its corporate documents, or any applicable law, and will not result in any breach of, or constitute a default under,
any agreement or instrument to which it is a party or under which it is bound.

 

5.3.         The
execution, delivery and performance of this Agreement by the Lender have been duly authorized by all necessary actions, and this
Agreement has been duly executed and delivered by the Lender. This Agreement is valid and binding upon such Lender and enforceable
in accordance with its terms.

 

    	 	4	 

     

    

 

5.4.         The
Lender understands that the Conversion Shares are “restricted securities” and have not been registered under the Securities
Act of 1933, as amended (the "Securities Act") or any applicable state securities law and is acquiring the Securities
as principal for its own account and not with a view to or for distributing or reselling such Conversion Shares or any part thereof
in violation of the Securities Act or any applicable state securities law, has no present intention of distributing any of such
Conversion Shares in violation of the Securities Act or any applicable state securities law and has no direct or indirect arrangement
or understandings with any other persons to distribute or regarding the distribution of such Conversion Shares in violation of
the Securities Act or any applicable state securities law.

 

5.5.         At
the time such Lender was offered the Conversion Shares, it was a “non-US person” as defined in Regulation S ("Regulation
S") as promulgated under the Securities Act.

 

5.6.         Such
Lender, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial
matters so as to be capable of evaluating the merits and risks of the prospective investment in the Conversion Shares, and has
so evaluated the merits and risks of such investment. Such Lender is able to bear the economic risk of an investment in the Conversion
Shares and, at the present time, is able to afford a complete loss of such investment. Such Lender acknowledges that as of the
date hereof, the Company has very limited financial resources, and thus an investment in the Conversion Shares is subject to significant
risk.

 

5.7.         Such
Lender acknowledges that it has had the opportunity to review this Agreement and has been afforded (i) the opportunity to ask
such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms
and conditions of the transaction contemplated hereunder; (ii) access to information about the Company and its financial condition,
results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and
(iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort
or expense that is necessary to make an informed investment decision with respect to the investment.  Such Lender acknowledges
and agrees that neither the Company nor any affiliate of the Company has provided such Lender with any information or advice with
respect to the Conversion Shares nor is such information or advice necessary or desired. 

 

5.8.         The
Lender further makes the representations and warranties to the Company set forth on Exhibit A pursuant to Regulation S
promulgated under the Securities Act.

 

    	 	5	 

     

    

 

5.9.         Each
certificate representing the Conversion Shares shall be stamped or otherwise imprinted with a legend substantially in the following
form (in addition to any legend required by applicable state securities or “blue sky” laws):

 

"THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), OR ANY STATE SECURITIES LAWS AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED,
ASSIGNED OR OTHERWISE TRANSFERRED EXCEPT (1) IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED UNDER THE SECURITIES
ACT, AND BASED ON AN OPINION OF COUNSEL, WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT THE PROVISIONS
OF REGULATION S HAVE BEEN SATISFIED, (2) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE
STATE SECURITIES LAWS OR (3) PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE
STATE SECURITIES LAWS, IN WHICH CASE THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE COMPANY AN OPINION OF COUNSEL, WHICH
COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR
OTHERWISE TRANSFERRED IN THE MANNER CONTEMPLATED PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS. HEDGING TRANSACTIONS INVOLVING THE SECURITIES REPRESENTED BY THIS CERTIFICATE
MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT. "

 

	6.	Default

 

Each
of the events or circumstances set out in the following paragraphs under this Section 6 is an Event of Default (whether or not
caused by any reason outside the control of the Borrower or of any other person):

 

 6.1.         Non-Payment. The Company fails to pay on a Repayment Date any amount due and payable pursuant to this Agreement, unless payment is made as soon as practicable and in any event within fourteen (14) Business Days of the applicable due date.

 

6.2.         Invalidity.
This Agreement shall cease to be in full force and effect in any respect or shall not, or shall cease to, constitute the legal,
valid, binding and enforceable obligations of the Company, as applicable, or might become unlawful or the exercise or enforcement
of any rights and remedies of the Lender under this Agreement becomes subject to material legal impediments. Any default under
this Section 6.2 may be cured within seven (7) Business Days (without prejudice to any other Event of Default pursuant hereto).

 

6.3.         Insolvency.
The Borrower shall become insolvent, however evidenced, or make an assignment for the benefit of creditors, or file with a court
of competent jurisdiction an application for appointment of a receiver, or similar official with respect to it or any substantial
part of its assets, or there shall be filed against the Borrower by any third party any such application or petition, which application
or petition is not dismissed or withdrawn within thirty (30) Business Days from the date of filing thereof.

 

    	 	6	 

     

    

 

6.4.         Merger
without assumption. The Borrower consolidates or merges with or into, or transfers all or substantially all its assets to,
or reorganizes, reincorporates or reconstitutes into or as, another entity and, at the time of such consolidation, amalgamation,
merger, transfer, reorganization, reincorporation or reconstitution the resulting, surviving or transferee entity fails to assume
all the obligations and undertakings of such party under this Agreement (including, for the avoidance of doubt, the obligations
and undertakings relating to Repayment Conversion under Section 3.1 above).

 

Upon
the occurrence of an Event of Default and at any time, the Lender may, by written notice to the Borrower, declare that an Event
of Default has occurred and/or that all or part of the outstanding Loan Amount is immediately due and payable, whereupon it shall
become immediately due and payable, together with all interest accrued thereon and all other amounts payable under this Agreement
(including Interest, fees and Repayment Amount, to the extent applicable). For avoidance of doubt, nothing in this Section shall
operate or be construed so as to prejudice or derogate from any other rights, remedies and relief available to the Lender under
this Agreement or by law.

 

	7.	General and Miscellaneous.

 

7.1.         Confidentiality.
The terms and conditions of this Agreement shall be treated by the Parties as confidential information and shall not be disclosed
to any person or entity except as required by applicable law, as the Company may be required to disclose in its public filings
with the Securities and Exchange Commission, to its auditors and other advisors (subject to confidentiality in accordance with
the principles set out herein), or in connection with any assignment or transfer permitted hereunder.

 

7.2.         Assignment.
Neither Party may assign their rights and/or obligation hereunder, or any of them, without the prior written approval of the
other Party.

 

7.3.         Successors
and Assigns. Without prejudice to the provisions of Section 7.2 (Assignment), this Agreement shall inure to the benefit
of, and be binding upon, the heirs, executors, administrators, successors and assigns of the parties hereto.

 

7.4.         Notices.
Any notice or other communication required to be given by one party hereto to another under this Agreement shall be in writing
and shall be deemed to have been served: (i) if personally delivered, when actually delivered; or (ii) if sent by facsimile or
e-mail, the next Business Day after receipt of confirmation of transmission; or (iii) three (3) Business Days after being mailed
by certified or registered mail, postage prepaid (for the purposes of proving such service, it being sufficient to prove that
such notice was properly addressed and posted) to the respective addresses of the parties set out herein:

 

if
to the Company:

 

Address: 6 Yehezkel Koifman Street, Tel-Aviv, Israel 

Attention: Shimon Citron 

Fax: 972-36245378

 

    	 	7	 

     

    

 

if
to the Lender:

 

Address: Via della Rocca no.24/bis, 10123 Torino, Italy

Attention: Finandrea S.p.A.

 

or
at such other address, fax or email as any party shall have furnished to the other in writing in accordance with this Section.

 

7.5.         Entire
Agreement. This Agreement constitutes the entire agreement and understanding between the Parties with respect to the subject
matter hereof, and supersedes any and all prior agreements, understandings, promises and representation, whether written or oral,
between the Parties with respect to the subject matter hereof.

 

7.6.         Costs.
Each Party shall bear its own costs incurred in connection with the execution and consummation of this Agreement and the transaction
contemplated hereunder.

 

7.7          Amendments.
This Agreement may not be amended, modified, released, or discharged in any manner except by an instrument in writing, referring
to this Agreement, and signed by all Parties.

 

7.5          Severability.
If, and solely to the extent that, any provision of this Agreement shall for any reason be held to be excessively broad, the term
shall be construed in a manner to enable it to be enforced to the extent compatible with applicable law. If, and solely to the
extent that, any provision of this Agreement shall be invalid or unenforceable, or shall render this entire Agreement to be unenforceable
or invalid, such offending provision shall be of no effect and shall not affect the validity of the remainder of this Agreement;
provided, however, the Parties shall use their respective reasonable efforts to renegotiate the offending provisions to best accomplish
the original intentions of the Parties.

 

7.6          Choice
of Law and Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of Delaware. Each party
agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by
this Agreement and any other transaction documents (whether brought against a party hereto or its respective affiliates, directors,
officers, shareholders, employees or agents) shall be commenced exclusively in the competent courts located in the State of New
York, County of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the courts of State of New York,
County of New York for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated
hereby or discussed herein (including with respect to the enforcement of any of the transaction documents), and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
of any such court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding.

 

7.7          Waiver.
No waiver of any right under this Agreement shall be deemed effective unless contained in writing and signed by the Party charged
with such waiver, and no waiver of any right shall be deemed to be a waiver of any future right or any other right arising under
this Agreement.

 

7.8          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.

 

[signature
page follows]

 

    	 	8	 

     

    

 

IN
WITNESS WHEREOF the parties hereto have signed this Convertible Loan Agreement as of the date first hereinabove set forth.

 

	Borrower:	 
	 	 	 
	EZTD, INC. 	 
	 	 	 

	By:	 	 
	Name: 	 	 
	Title:	 	 

 

	Lender:	 
	 	 	 
	FINANDREA S.P.A	 
	 	 	 

	By:	 	 
	Name: 	 	 
	Title:	 	 

 

    	 	9	 

     

    

 

EXHIBIT
A

 

TO
THE

CONVERTIBLE LOAN AGREEMENT

 

 

 

NON
U.S. PERSON REPRESENTATIONS

 

The
Lender further represents and warrants to the Company as follows:

 

		1.	At
                                         the time of (a) the offer by the Company and (b) the acceptance of the offer by such
                                         person or entity, of the Securities, such person or entity was outside the United States.

 

		2.	Such
                                         person or entity is acquiring the Securities for such Lender's own account, for investment
                                         and not for distribution or resale to others and is not purchasing the Securities for
                                         the account or benefit of any U.S. person, or with a view towards distribution to any
                                         U.S. person, in violation of the registration requirements of the Securities Act.

 

		3.	Such
                                         person or entity will make all subsequent offers and sales of the Securities either (x)
                                         outside of the United States in compliance with Regulation S; (y) pursuant to a registration
                                         under the Securities Act; or (z) pursuant to an available exemption from registration
                                         under the Securities Act. Specifically, such person or entity will not resell the Securities
                                         to any U.S. person or within the United States prior to the expiration of a period commencing
                                         on the Closing and ending on the date that is one year thereafter (the "Distribution
                                         Compliance Period"), except pursuant to registration under the Securities Act
                                         or an exemption from registration under the Securities Act.

 

		4.	Such
                                         person or entity has no present plan or intention to sell the Securities in the United
                                         States or to a U.S. person at any predetermined time, has made no predetermined arrangements
                                         to sell the Securities and is not acting as a distributor of such Securities.

 

		5.	Neither
                                         such person or entity, its affiliates nor any person acting on behalf of such person
                                         or entity, has entered into, has the intention of entering into, or will enter into any
                                         put option, short position or other similar instrument or position in the U.S. with respect
                                         to the Securities at any time after the Closing through the Distribution Compliance Period
                                         except in compliance with the Securities Act.

 

		6.	Such
                                         person or entity consents to the placement of a legend on any certificate or other document
                                         evidencing the Securities substantially in the form set forth in Section 5.9 of
                                         this Agreement.

 

		7.	Such
                                         person or entity is not acquiring the Securities in a transaction (or an element of a
                                         series of transactions) that is part of any plan or scheme to evade the registration
                                         provisions of the Securities Act.

 

    	 	10	 

     

    

 

		8.	Such
                                         person or entity has sufficient knowledge and experience in finance, securities, investments
                                         and other business matters to be able to protect such person’s or entity’s
                                         interests in connection with the transactions contemplated by this Agreement.

 

		9.	Such
                                         person or entity has consulted, to the extent that it has deemed necessary, with its
                                         tax, legal, accounting and financial advisors concerning its investment in the Securities.

 

		10.	Such
                                         person or entity understands the various risks of an investment in the Securities and
                                         can afford to bear such risks for an indefinite period of time, including, without limitation,
                                         the risk of losing its entire investment in the Securities.

 

		11.	Such
                                         person or entity has had access to the Company’s publicly filed reports with the
                                         Securities and Exchange Commission and has been furnished during the course of the transactions
                                         contemplated by this Agreement with all other public information regarding the Company
                                         that such person or entity has requested and all such public information is sufficient
                                         for such person or entity to evaluate the risks of investing in the Securities.

 

		12.	Such
                                         person or entity has been afforded the opportunity to ask questions of and receive answers
                                         concerning the Company and the terms and conditions of the issuance of the Securities.

 

		13.	Such
                                         person or entity is not relying on any representations and warranties concerning the
                                         Company made by the Company or any officer, employee or agent of the Company, other than
                                         those contained in this Agreement.

 

		14.	Such
                                         person or entity will not sell or otherwise transfer the Securities unless either (A) the
                                         transfer of such securities is registered under the Securities Act or (B) an exemption
                                         from registration of such securities is available.

 

		15.	Such
                                         person or entity represents that the address furnished on the cover page to this Agreement
                                         is the principal residence if he is an individual or its principal business address if
                                         it is a corporation or other entity.

 

		16.	Such
                                         person or entity understands and acknowledges that the Securities have not been recommended
                                         by any federal or state securities commission or regulatory authority, that the foregoing
                                         authorities have not confirmed the accuracy or determined the adequacy of any information
                                         concerning the Company that has been supplied to such person or entity and that any representation
                                         to the contrary is a criminal offense.

 

 

11

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