Document:

Blue Sphere Corporation 8-K/A

 

Exhibit 10.1

 

April
3, 2018

 

By
Email

 

[DEBENTURE
HOLDER]

 

Re:
Senior Debenture/April Maturity Date Extensions and Warrants

 

Gentlemen:

 

Reference
is made to that certain Subscription Agreement, dated December 23, 2015, pursuant to which each of you purchased from Blue Sphere
Corporation (“We”, the “Company” or “Blue Sphere”) a Senior Debenture, as subsequently amended
(except for [one]), in the aggregate principal amount of $3,000,000 (each a “Senior Debenture” and collectively, the
“Senior Debentures”), and a $0.05 Warrant (“$0.05 Warrant”) and a $0.075 Warrant (“$0.075 Warrant”,
and with the $0.05 Warrant, the “Warrants”) pursuant to the terms and conditions stated therein (the “December
2015 Offering”). Capitalized terms used in this letter agreement shall have the meaning ascribed to such terms in the Senior
Debenture or the Warrants, as the case may be.

 

Reference
is further made to that certain Senior Debenture/Maturity Date Extension and Warrants Letter Agreement, dated on or about December
21, 2017, by and among the Company and Holders of the Senior Debentures (collectively, the “Group”) regarding the
extension of the Maturity Date of Senior Debentures, Repricing of certain Warrants and the issuance of New Warrants, as more fully
detailed therein (the “December Letter Agreement”).

 

Thank
you for agreeing to extend further the Maturity Date of your Senior Debenture as more fully detailed herein. . We appreciate your
cooperation in this regard and, in turn, agree to the following:

 

I.        
   Maturity Date Extension to May 7, 2018

 

(i)           December
Letter Agreement Payment, Interest and 1% Extension Fee Payment to be Paid on May 7, 2018: As consideration for extending
the Maturity Date to May 7, 2018, the Company shall pay to the Group an aggregate of $241,315 representing the following: (a)
$120,000 due and owing under the December Letter Agreement; (b) $91,315 in Interest due and owing under the Senior Debenture for
the period commencing on December 23, 2017 through April 2, 2018; and (c) $30,000 as an Extension Fee (collectively, the “May
Payment”).

 

The
May Payment shall be paid to the Group on or before May 7, 2018 (the “May Deadline”). The May Payment made pursuant
to this Letter Agreement shall be on a pro rata basis to each of you, based on your investment relative to the other members
of the Group, as more fully detailed on Schedule A attached hereto.

 

(i)           New
Warrant: Blue Sphere shall issue new warrants to purchase up to an aggregate of 227,272 shares of the Company’s common
stock, at an exercise price equal to the December 21st Closing Price (the “New Warrants”). The New Warrants shall
be issued on a pro rata basis to each of you, based on your investment relative to the other members of the Group, as more
fully detailed on Schedule A attached hereto.

 

    

     

    

 

II.          Maturity
Date Extension to June 30, 2018

 

(i)          Maturity
Date Extension : As consideration for extending the Maturity Date to June 30, 2018 (the “June Maturity Date”),
the Company shall be obligated to pay to the Group an additional one percent (1%) extension fee of $30,000, payable on or before
the June Maturity Date.. Such extension fee shall be on a pro rata basis to each of you, based on your investment relative
to the other members of the Group, as more fully detailed on Schedule A attached hereto. In addition, interest on the Senior Debentures
shall continue to accrue at the rate of eleven percent (11%) through the June Maturity Date and shall be payable on or before
the June Maturity Date.

 

(ii)         Failure
to Make Payments by the June Maturity Date: In the event that the Company does not pay all amounts due and owing under the
Senior Debentures on or before the June Maturity Date, then the Maturity Date of the Senior Debentures shall be automatically
extended to December 31, 2018 and, in consideration for this extension: (a) the Senior Debentures shall, commencing on July 1,
2018, accrue interest at the rate of $2,000 per day (the “Extension Date Interest”); and (b) the Company shall be
obligated to pay a “Failure to Pay” fee equal to five percent (5%) of the total Principal Amount invested by the Group,
or an aggregate of $150,000 (“Failure to Pay Fee”). The Failure to Pay Fee shall be due and payable at any time between
July 1, 2018 and December 31, 2018. Further, the Extension Date Interest shall be paid on a pro rata basis to each of you,
based on your investment relative to the other members of the Group, as more fully detailed on Schedule A attached hereto.

 

IV.        Other

 

(i)          Further
Amendment to Senior Debenture. All of the Senior Debentures shall again be amended to reflect, among other things, (a) the
Maturity Date extensions detailed herein; (b) the inclusion of the Extension Date Interest;; and (c) the inclusion of a Failure
to Pay Fee, all of which as detailed in the Third Amendment to Senior Debenture.

 

(ii)         Repayment
from Certain Proceeds: The Company shall repay all amounts due and owing under the Senior Debentures from proceeds received
from the following transactions: (a) financing in conjunction with an uplist transaction; (b) a private placement conducted by
one or more placement agents; or (c) a financing transaction with BlackRock, Inc.

 

In
connection with consummating the foregoing, please find attached to this letter agreement the Third Amendment to Senior Debenture
(except for [one] who shall receive a Second Amendment to the Senior Debenture), and a New Warrant, attached hereto as Exhibit
A and Exhibit B, respectively. Each of these documents has been signed by the Company. Therefore, please countersign each where
indicated and return a copy to us, along with your countersignature to this Letter Agreement. We shall provide to you a set
of all closing documents, including original copies of the securities, as soon as possible, following receipt of countersigned
documents from all members of the Group. 

 

    

     

    

 

 Once
again, thank you for your continued support of Blue Sphere.  

 

	 	Very truly yours,
	 	 
	 	Blue Sphere Corporation
	 	 	 
	 	By: 	/s/ Shlomi Palas
	 	Name: 	  Shlomi Palas
	 	Title: 	   Chief Executive officer

 

Accepted
and Agreed to as of the date first written above:

 

	HOLDER:	 
		 
	 	 	 
	(entity name, if applicable)	 
	 	 
	By:	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:Blue Sphere Corporation 8-K/A

 

Exhibit 10.2

 

[SECOND/THIRD] AMENDMENT TO SENIOR DEBENTURE

 

THIS [SECOND/THIRD] AMENDMENT TO SENIOR
DEBENTURE (this “Amendment”) is made as of April 3, 2018 (the “Effective Date”) by and
between Blue Sphere Corporation, a Nevada corporation (the “Company”), and the undersigned (the “Holder”).

 

WHEREAS, the Company issued to Holder,
and certain other holders, a Senior Debenture, dated December 23, 2015, numbered and in the principal amount as set forth on the
signature page hereto (the “Debenture”), which bears interest at a rate of 11% per annum, and matures on December
22, 2017;

 

WHEREAS, on or about March 24, 2017,
the Company and certain Holder entered into that certain First Amendment to Debenture, providing for the amendment to the Debenture
as detailed therein;

 

WHEREAS, the Company, the Holder
and other holders that were issued a Debenture (collectively, the “Group”) entered into that certain letter agreement,
dated on or about December 21, 2017, reflecting their mutual desire to amend the Debenture again on the terms and subject to the
conditions as detailed therein; and

 

WHEREAS, on or about December 21,
2017, the Company and certain Holders entered into that certain Second Amendment to Debenture, providing for the amendment to the
Debenture as detailed therein;

 

WHEREAS,  the Company and the Group
have entered into on the date hereof another letter agreement, a copy of which is attached hereto as Exhibit A, reflecting their
mutual desire to amend the Debenture again on the terms and subject to the conditions set forth herein (the “April Letter
Agreement”);

 

WHEREAS, pursuant to Section 11
of the Debenture, the amendment contemplated by the Company and the Holder must be contained in an instrument in writing, signed
by the parties.

 

NOW, THEREFORE, in consideration
of the premises contained herein and other good and valuable consideration, the receipt and legal sufficiency of which are hereby
acknowledged, the Company and the Holder hereby agree as follows:

 

1.             Definitions.
 Capitalized terms used but not defined in this Amendment shall have the meaning ascribed to such terms in the Debenture.

 

2.             Amendment
to Section 1, Principal Repayment, Interest Repayment. The heading to Section 1 of the Debenture shall be amended to read as follows:

 

“1. Principal
Repayment, Interest Repayment and Failure to Pay Fee”

 

3.             Maturity
Date Extensions. The Maturity Date set forth in the Debenture shall be extended in accordance with the April Letter Agreement
as follows: (a) from April 3, 2018 to May 7, 2018; (b) in the event that there are any amounts owing under the Debenture after
May 7, 2018, then the Maturity Date shall be extended from May 7, 2018 to June 30, 2018; and (c) in the event that there are any
amounts owing under the Debenture after June 30, 2018, then the Maturity Date shall be extended from June 30, 2018 to December
31, 2018.

 

    1 

     

    

 

4.             Amendment
to Section 1, Principal Repayment; Interest Repayment: Section 1(b) of the Debenture shall be amended to read as follows:

 

“(b) Interest
shall accrue on the outstanding principal balance of this Debenture for the period beginning on the Issuance Date of this Debenture
through and including June 30, 2018, unless redeemed pursuant to the terms hereof, at a rate of eleven percent (11%) per annum.
Subsequent to June 30, 2018, the Company shall be obligated to make Interest payments to the Holder equal to the Holder’s
pro rata share of an aggregate of $2,000 per day, provided on Schedule A to the April Letter Agreement (“Extension
Date Interest”). Except as otherwise provided in the April Letter Agreement, all Interest payable under this Debenture shall
be paid quarterly in arrears on or before the fifteenth (15th) day of each month following the end of the calendar quarter throughout
the term of this Debenture Agreement with the first interest payment due one quarter after closing and each quarter thereafter.”

 

5.             Amendment
to Section 1(c) of the Debenture shall be amended and restated as follows:

In the event that the Company does not
pay all amounts due and owing under the Debenture on or before the June 30, 2018 Maturity Date, then the Company shall be obligated
to pay a “Failure to Pay” fee equal to five percent (5%) of the total principal invested by the Group (“Failure
to Pay Fee”). The Failure to Pay Fee shall be due and payable at any time between July 1, 2018 and December 31, 2018.

 

6.             Date
of Effectiveness; Limited Effect.  This Amendment will be deemed effective as of the Effective Date. Except as expressly
provided in this Amendment, all of the terms and provisions of the Debenture are and will remain in full force and effect and are
hereby ratified and confirmed by the Company and the Holder. On and after the Effective Date, each reference in the Debenture to
“this Debenture,” “the Debenture,” “hereunder,” “hereof,” “herein”
or words of like import, and each reference to the Debenture in any other agreements, documents or instruments executed and delivered
pursuant to, or in connection with, the Debenture, will mean and be a reference to the Debenture as amended by this Amendment.

 

7.             Representations
and Warranties. Each party hereby represents and warrants to the other party that: (a) it has the full right, power and authority
to enter into this Amendment and to perform its obligations hereunder and under the Debenture, as amended by this Amendment; (b)
the execution of this Amendment by the individual whose signature is set forth at the end of this Amendment on behalf of such party,
and the delivery of this Amendment by such party, have been duly authorized by all necessary action on the part of such party;
and (c) this Amendment has been executed and delivered by such party and (assuming due authorization, execution and delivery by
the other party hereto) constitutes the legal, valid and binding obligation of such party, enforceable against such party in accordance
with its terms.

 

8.             Miscellaneous.
 This Amendment (a) constitutes the sole and entire agreement of the parties with respect to the subject matter contained
herein, and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and
oral, with respect to such subject matter; (b) may be amended only by a writing signed by each of the parties; (c) may
be executed in several counterparts, each of which shall be deemed an original but all of which shall constitute one and the same
instrument; (d) shall be governed by, and construed and enforced in accordance with, the laws of the State of Nevada, without
giving effect to any conflict of law rules; and (d) shall be binding upon, and inure to the benefit of, the parties and their
respective successors and permitted assigns.

 

[remainder of page left intentionally
blank]

 

    2 

     

    

 

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

 

COMPANY:

 

BLUE SPHERE CORPORATION

 

	By:	/s/ Shlomi Palas	 	 
	Name:	Shlomi Palas	 
	Title:	Chief Executive Officer

	 	 	 
	HOLDER:	 
	 	 	 
	(entity name, if applicable)	 

	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

	 	 	 	 
	DEBENTURE:	 	 
	 	 	 	 
	Debenture Number:	D-DEC-2015-	 	 

 

	Principal Amount :	USD $	 	 

 

    3 

     

    

 

EXHIBIT A

 

NOTICE OF CONVERSION

 

(To Be Signed Only Upon Conversion of the
Debenture)

 

The undersigned, the holder of the foregoing
Debenture, as amended pursuant to that certain Second Amendment to Senior Debenture, dated December 22, 2017, hereby surrenders
such Debenture for conversion into shares of Common Stock of Blue Sphere Corporation to the extent of the Conversion Amount of
$ _______________, representing unpaid Principal Amount and accrued but unpaid interest of such Debenture, and requests that the
certificates for such Common Stock be issued in the name of, and delivered to _________________ whose address is _________________.

 

Calculation:

 

			Principal Amount of Debenture to be Converted 	____________

 

		+	Unpaid and Accrued Interest on Principal Amount of Debenture
to be Converted 	____________

 

		=	Conversion Amount	____________

 

		÷	Conversion Price	____________

 

		=	Number of Shares of the Company’s Common Stock
to be Issued 	____________

 

The date of this Conversion Notice is:
____________________________

	 	 	 
			(Signature must conform in all respects to name of holder
as specified on the face of the Debenture)
	 	 	 
	 	 	 
	(Address)	 	 

 

    4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}]]