Document:

EX-4.6

 Exhibit 4.6 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR BANK S.A./N.V. (“EUROCLEAR”) OR CLEARSTREAM BANKING, SOCIETE
ANONYME (“CLEARSTREAM”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME USB NOMINEES (UK) LIMITED OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF EUROCLEAR OR CLEARSTREAM, AND ANY PAYMENT IS MADE TO USB NOMINEES (UK) LIMITED OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR OR CLEARSTREAM, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE THE REGISTERED OWNER HEREOF, USB NOMINEES (UK) LIMITED HAS AN INTEREST HEREIN. 
  

							
	No. R-1	 	CUSIP No.:	 	 	115637        AR1	  
		 	ISIN:	 	 	XS1441773121	  
		 	Common Code:	 	 	144177312	  

 BROWN-FORMAN CORPORATION 

2.600% NOTE DUE 2028 

BROWN-FORMAN CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein called the
“Company”, which term includes any successor corporation under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to USB NOMINEES (UK) LIMITED, as nominee of ELAVON FINANCIAL SERVICES
LIMITED, as common depositary, or registered assigns, the principal sum of £300,000,000 (THREE HUNDRED MILLION POUNDS STERLING) on July 7, 2028, and to pay interest on said principal sum annually on July 7 of each year, commencing,
July 7, 2017, at the rate of 2.600% per annum from July 7, 2016, or from the most recent date in respect of which interest has been paid or duly provided for, until payment of the principal sum has been made or duly provided for. The
interest so payable and punctually paid or duly provided for on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of
business on the Record Date for such Interest Payment Date, which shall be the June 23 (whether or not a Business Day) next preceding such Interest Payment Date. Any such interest that is payable but is not so punctually paid or duly provided
for shall forthwith cease to be payable to the registered Holder on such Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date
for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes not earlier than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the Notes may be listed and upon such notice as may be required by such exchange, if such manner of payment shall be deemed practical by the Trustee, all as more fully provided
in the Indenture. 

 All payments of interest and principal, including payments made upon any redemption or repurchase
of this Note, will be made in the lawful currency of the United Kingdom (“sterling”); provided that if the sterling is unavailable to the Company due to the imposition of exchange controls or other circumstances beyond the
Company’s control or for the settlement of transactions by public institutions of or within the international banking community, then all payments in respect of this Note will be made in U.S. dollars until the sterling is again available to the
Company or so used. In such circumstances, the amount payable on any date in sterling will be converted into U.S. dollars at the rate mandated by the Board of Governors of the Federal Reserve System as of the close of business on the second Business
Day (as defined below) prior to the relevant payment date or, if the Board of Governors of the Federal Reserve System has not announced a rate of conversion, on the basis of the most recent U.S. dollar/sterling exchange rate published in The Wall
Street Journal on or prior to the second Business Day prior to the relevant payment date or, in the event The Wall Street Journal has not published such exchange rate, the rate will be determined in the Company’s sole discretion on
the basis of the most recently available market exchange rate for the sterling. Any payment in respect of this Note so made in U.S. dollars will not constitute an Event of Default (as defined in the Indenture). Neither the Trustee nor the Paying
Agent shall have any responsibility for any calculation or conversion in connection with the foregoing. 
 Interest on this Note will be
computed on the basis of the actual number of days in the period for which interest is being calculated and the actual number of days from and including the last date on which interest was paid on this Note (or July 7, 2016 if no interest has
been paid on this Note), to, but excluding, the next scheduled Interest Payment Date. This payment convention is referred to as ACTUAL/ACTUAL (ICMA) as defined in the rulebook of the International Capital Market Association. 

If any Interest Payment Date would otherwise be a day that is not a Business Day, such Interest Payment Date shall be postponed to the next
date that is a Business Day. If the maturity date of this Note falls on a day that is not a Business Day, the related payment of principal and interest shall be made on the next Business Day as if it were made on the date such payment was due, and
no interest shall accrue on the amounts so payable for the period from and after such date to the next Business Day. For these purposes, a “Business Day” is any day that is not a Saturday, Sunday or other day on which banking
institutions in New York City, London or another place of payment on the Notes are authorized or required by law to close and on which the Trans-European Automated Real-Time Gross Settlement Express Transfer system (the TARGET2 system), or any
successor thereto, is open. 
 Elavon Financial Services Limited, UK Branch, a wholly owned subsidiary of U.S. Bank National Association,
shall initially act as Paying Agent and Elavon Financial Services Limited shall act as Registrar and Transfer Agent for the Notes. Upon notice to the Trustee, the Company may change the Paying Agent, Registrar or Transfer Agent; provided, however,
that, for so long as the Notes are outstanding and the provisions of the European Council Directive 2003/48/EC on the taxation of savings income (the “Directive”) continue to have effect, the Company shall maintain a Paying Agent in
a member state of the European Union that is not obligated to withhold or deduct tax pursuant to the Directive, or any law implementing or complying with or introduced in order to conform to such directive (so long as there is such a member state).

  
 2 

 Payment of the principal of and any such interest on this Note, including payments made upon
redemption of this Note, will be made at the office or agency of the Paying Agent, which is initially maintained for that purpose in London, initially at 125 Old Broad Street, Fifth Floor, London EC2N 1AR, United Kingdom. 

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set
forth at this place. Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee by manual signature, this Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

  
 3 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed by manual or
facsimile signature under its corporate seal or a facsimile thereof. 
  

							
	Dated:	 		 	BROWN-FORMAN CORPORATION
				
		 		 	By:	 	  

		 		 		 	Authorized Officer
				
		 		 	By:	 	  

		 		 		 	Authorized Officer

  

	
	[seal]
	
	Attest:
	
	  

  
 4 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Officer

  
 5 

 REVERSE OF NOTE 

BROWN-FORMAN CORPORATION 
 2.600%
NOTE DUE 2028 
 This Note is one of a duly authorized issue of debentures, notes or other evidences of indebtedness of the Company (herein
called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of April 2, 2007, as supplemented by the First Supplemental Indenture dated as of December 13, 2010 and the Second
Supplemental Indenture dated as of June 24, 2015 (as so supplemented, the “Indenture”), between the Company and U.S. Bank National Association, as Trustee (herein called the “Trustee”, which term includes any
successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights thereunder of the Company, the Trustee, and the Holders of the Securities, the terms
upon which the Securities are, and are to be, authenticated and delivered, and the definition of capitalized terms used herein and not otherwise defined herein. The Securities may be issued in one or more series, which different series may be issued
in various aggregate principal amounts, may be denominated in different currencies, may mature at different times, may bear interest (if any) at different rates (which rates may be fixed or variable), may be subject to different redemption
provisions (if any), may be subject to different sinking, purchase, or analogous funds (if any), may be subject to different covenants and Events of Default, and may otherwise vary as provided in the Indenture. This Note is one of a series of
Securities of the Company designated as set forth on the face hereof (herein called the “Notes”), initially limited in aggregate principal amount to £300,000,000. The Company may re-open the Notes and issue an unlimited
aggregate principal amount of additional notes from time to time. Any such additional notes, together with the then outstanding Notes, shall constitute a single series of Securities under the Indenture. No additional notes may be issued if an Event
of Default (as defined in the Indenture) has occurred with respect to the Notes or if such additional notes shall not be fungible with the previously issued Notes for Federal income tax purposes. 

This Note may be redeemed at the Company’s option, upon notice as set forth in the Indenture, in whole at any time or in part from time
to time in £1,000 increments (provided that any remaining principal amount thereof shall be at least the minimum authorized denomination thereof). If the Notes are redeemed before April 7, 2028 (three months prior to the maturity date, or
the “par call date”) the redemption price shall equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal
and interest on the Notes being redeemed assuming the Notes mature on the par call date (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on an annual basis (ACTUAL/ACTUAL (ICMA)), at the Comparable
Government Bond Rate, plus 25 basis points, in each case, plus accrued and unpaid interest to, but not including, the redemption date; provided that if the date fixed for redemption is a date on or after the Record Date and on or before the next
following Interest Payment Date, then the interest payable on such date shall be paid to the Holder of record on the relevant Record Date. If the Notes are redeemed on or after the par call date, the redemption price for the Notes shall equal 100%
of the principal amount of the Notes being redeemed, plus accrued and unpaid interest to, but not including, the redemption date; provided that if the date fixed for redemption 

  
 6 

 
is a date on or after the Record Date and on or before the next following Interest Payment Date, then the interest payable on such date shall be paid to the Holder of record on the relevant
Record Date. 
 “Comparable Government Bond” means, in relation to any Comparable Government Bond Rate calculation, at the
discretion of an independent investment bank selected by the Company, a United Kingdom government bond whose maturity is closest to the par call date, or if such independent investment bank in its discretion determines that such similar bond is not
in issue, such other United Kingdom government bond as such independent investment bank may, with the advice of three brokers of, and/or market makers in, United Kingdom government bonds selected by the Company, determine to be appropriate for
determining the Comparable Government Bond Rate. 
 “Comparable Government Bond Rate” means the price, expressed as a
percentage (rounded to three decimal places, with 0.0005 being rounded upwards), at which the gross redemption yield on the Notes to be redeemed, if they were to be purchased at such price on the third Business Day prior to the date fixed for
redemption, would be equal to the gross redemption yield on such Business Day of the Comparable Government Bond on the basis of the middle market price of the Comparable Government Bond prevailing at 11:00 a.m. (London time) on such Business Day as
determined by an independent investment bank selected by the Company. 
 If less than all of the Notes are to be redeemed, and the Notes are
global notes, the Notes to be redeemed shall be selected by Euroclear or Clearsteam in accordance with their standard procedures. If the Notes to be redeemed are not global notes then held by Euroclear or Clearstream, the Trustee shall select the
Notes to be redeemed on a pro rata basis, by lot, or by any other method the Trustee deems fair and appropriate. If the Notes are listed on any national securities exchange, Euroclear or Clearstream shall select Notes in compliance with the
requirements of the principal national securities exchange on which the Notes are listed. Notwithstanding the foregoing, if less than all of the Notes are to be redeemed, no Notes of a principal amount of £100,000 or less shall be redeemed in
part. If money sufficient to pay the redemption price on the Notes (or portions thereof) to be redeemed on the redemption date is deposited with the Paying Agent on or before the redemption date and certain other conditions are satisfied, then on
and after such redemption date, interest shall cease to accrue on such Notes (or such portion thereof) called for redemption. 
 In the
event of redemption of this Note in part only, a new Note or Notes for the unredeemed portion hereof will be issued in the name of the Holder hereof upon cancellation hereof. 

Notice of any redemption shall be mailed at least 15 days but no more than 45 days before the redemption date to each holder of the Notes to
be redeemed, at its registered address. 
 The Notes may be redeemed at the Company’s option in whole, but not in part, on not less
than 15 nor more than 45 days’ prior notice, at 100% of the principal amount, together with accrued and unpaid interest, if any, to, but excluding, the redemption date if, as a result of any change in, or amendment to, the laws, regulations or
rulings of the United States (or any political 

  
 7 

 
subdivision or taxing authority thereof or therein having power to tax), or any change in official position regarding application or interpretation of those laws, regulations or rulings
(including a holding by a court of competent jurisdiction), which change, amendment, application or interpretation is announced and becomes effective on or after the original issue date with respect to the Notes, the Company becomes or, based upon a
written opinion of independent counsel selected by the Company, shall become obligated to pay additional amounts as described below and that obligation cannot be avoided by taking reasonable measures available to the Company, as determined by the
Company in its sole discretion acting in good faith. 
 All payments of principal, interest, and premium, if any, in respect of this Note
shall be made free and clear of, and without withholding or deduction for, any present or future taxes, assessments, duties or governmental charges of whatever nature imposed, levied or collected by the United States (or any political subdivision or
taxing authority thereof or therein having power to tax), unless such withholding or deduction is required by law or the official interpretation or administration thereof. 

In addition, for so long as the Notes are outstanding and the provisions of the Directive continue to have effect, the Company shall maintain
a Paying Agent in a member state of the European Union that is not obligated to withhold or deduct tax pursuant to the Directive, or any law implementing or complying with or introduced in order to conform to such directive (so long as there is such
a member state). 
 The Company shall, subject to the exceptions and limitations set forth below, pay as additional interest in respect of
the Notes such additional amounts as are necessary in order that the net payment by the Company of the principal of, premium, if any, and interest in respect of the Notes to a holder who is not a United States person (as defined below), after
withholding or deduction for any present or future tax, assessment, duties or other governmental charge imposed by the United States (or any political subdivision or taxing authority thereof or therein having power to tax), shall not be less than
the amount provided in the Notes to be then due and payable; provided, however, that the foregoing obligation to pay additional amounts shall not apply: 

(1) to the extent any tax, assessment or other governmental charge would not have been imposed but for the holder (or the beneficial owner for
whose benefit such holder holds such Note), or a fiduciary, settlor, beneficiary, member or shareholder of the holder if the holder is an estate, trust, partnership or corporation, or a person holding a power over an estate or trust administered by
a fiduciary holder, being considered as: 
  

	 	(a)	being or having been engaged in a trade or business in the United States or having or having had a permanent establishment in the United States; 

 

	 	(b)	having a current or former connection with the United States (other than a connection arising solely as a result of the ownership of the Notes, the receipt of any payment or the enforcement of any rights hereunder),
including being or having been a citizen or resident of the United States; 

  

	 	(c)	being or having been a personal holding company, a passive foreign investment company or a controlled foreign corporation for U.S. Federal income tax purposes or a corporation that has accumulated earnings to avoid U.S.
Federal income tax; 

  
 8 

	 	(d)	being or having been a “10-percent shareholder” of the Company as defined in section 871(h)(3) of the United States Internal Revenue Code of 1986, as amended (the “Code”) or any successor
provision; or 

  

	 	(e)	being a bank receiving payments on an extension of credit made pursuant to a loan agreement entered into in the ordinary course of its trade or business, as described in section 881(c)(3)(A) of the Code or any successor
provision; 

 (2) to any holder that is not the sole beneficial owner of the Notes, or a portion of the Notes, or that is a
fiduciary, partnership or limited liability company, but only to the extent that a beneficial owner with respect to the holder, a beneficiary or settlor with respect to the fiduciary, or a beneficial owner or member of the partnership or limited
liability company would not have been entitled to the payment of an additional amount had the beneficiary, settlor, beneficial owner or member received directly its beneficial or distributive share of the payment; 

(3) to the extent any tax, assessment or other governmental charge that would not have been imposed but for the failure of the holder or any
other person to comply with certification, identification or information reporting requirements concerning the nationality, residence, identity or connection with the United States of the holder or beneficial owner of the Notes, if compliance is
required by statute, by regulation of the United States or any taxing authority therein or by an applicable income tax treaty to which the United States is a party as a precondition to exemption from such tax, assessment or other governmental
charge; 
 (4) to any tax, assessment or other governmental charge that is imposed otherwise than by withholding by the Company or a Paying
Agent from the payment; 
 (5) to any tax, assessment or other governmental charge required to be withheld by any Paying Agent from any
payment of principal of or interest on any Notes, if such payment can be made without such withholding by any other Paying Agent; 
 (6) to
any estate, inheritance, gift, sales, transfer, wealth, capital gains or personal property tax or similar tax, assessment or other governmental charge, or excise tax imposed on the transfer of Notes; 

(7) to any withholding or deduction that is imposed on a payment to an individual and that is required to be made pursuant to the Directive,
or any law implementing or complying with or introduced in order to conform to, such directive; 
 (8) to any tax, assessment or other
governmental charge required to be withheld by any Paying Agent from any payment of principal of or interest on any Note as a result of the presentation of any Note for payment (where presentation is required) by or on behalf of a holder of Notes,
if such payment could have been made without such withholding by presenting the relevant Note to at least one other Paying Agent in a member state of the European Union; 

  
 9 

 (9) to the extent any tax, assessment or other governmental charge would not have been imposed
but for the presentation by the holder of any Note, where presentation is required, for payment on a date more than 30 days after the date on which payment became due and payable or the date on which payment thereof is duly provided for, whichever
occurs later except to the extent that the beneficiary or holder thereof would have been entitled to the payment of additional amounts had such Note been presented for payment on any day during such 30-day period; 

(10) to any tax, assessment or other governmental charge imposed under sections 1471 through 1474 of the Code (or any amended or successor
provisions), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to section 1471(b) of the Code or any fiscal or regulatory legislation, rules or practices adopted pursuant to any
intergovernmental agreement entered into in connection with the implementation of such sections of the Code; or 
 (11) in the case of any
combination of items (1), (2), (3), (4), (5), (6), (7), (8), (9) and (10). 
 The Notes are subject in all cases to any tax, fiscal or
other law or regulation or administrative or judicial interpretation applicable to the Notes. Except as specifically provided above, the Company shall not be required to make any payment for any tax, assessment or other governmental charge imposed
by any government or a political subdivision or taxing authority of or in any government or political subdivision. 
 As used above, the
term “United States” means the United States of America, its territories and possessions, the states of the United States and the District of Columbia, and the term “United States person” means any individual who is
a citizen or resident of the United States for U.S. Federal income tax purposes, a corporation, partnership or other entity created or organized in or under the laws of the United States, any state of the United States or the District of Columbia,
or any estate or trust the income of which is subject to U.S. Federal income taxation regardless of its source. 
 The Indenture permits,
with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series under the Indenture at any time by the Company and
the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Securities at the time Outstanding of each series to be affected by such amendment or modification. The Indenture also contains provisions permitting the
Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon
registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Note. 

  
 10 

 The Indenture contains provisions setting forth certain conditions to the institution of
proceedings by Holders of Securities with respect to the Indenture or for any remedy under the Indenture. 
 If an Event of Default with
respect to the Notes shall occur and be continuing, the principal amount hereof may be declared due and payable or may be otherwise accelerated in the manner and with the effect provided in the Indenture. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registerable in the Security
Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in any Place of Payment duly endorsed, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security
Registrar duly executed, by the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or
transferees. 
 The Notes are issuable only in registered form without coupons in denominations of £100,000 and any integral multiple
of £1,000 in addition thereto. As provided in the Indenture and subject to certain limitations therein set forth, this Note is exchangeable for a like aggregate principal amount of Notes of different authorized denominations as requested by
the Holder surrendering the same. 
 No service charge shall be made for any such registration or transfer or exchange, but the Company may
require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to the
presentment of this Note for registration of transfer, the Company, the Trustee, and any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment as
herein provided and for all other purposes, whether or not this Note is overdue, and neither the Company, the Trustee, nor any such agent shall be affected by notice to the contrary. 

All terms used in this Note which are defined in the Indenture and are not otherwise defined herein shall have the meanings assigned to them
in the Indenture. 
 This Note shall be construed in accordance with and governed by the laws of the State of New York. 

  
 11 

 FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

[PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE] 

[PLEASE PRINT OR TYPE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE] 

the within Note and all rights thereunder, hereby irrevocably constituting and appointing attorney to transfer such Note on the books of the Company, with
full power of substitution in the premises. 
 Dated:
                     
 NOTICE: The signature to
this assignment must correspond with the name as written upon the face of the within Note in every particular without alteration or enlargement or any change whatsoever. 

  
 12Blue Sphere Corporation 8-K

Exhibit
10.1

BLUE
SPHERE CORPORATION

 

SECURITIES
SUBSCRIPTION AGREEMENT

 

THIS
SECURITIES SUBSCRIPTION AGREEMENT (this “Agreement”), dated as of July __, 2016, by and between Blue Sphere
Corporation, a Nevada corporation (the “Company”), and the undersigned subscriber (the “Subscriber”).

 

WHEREAS,
the Company and Subscriber are executing and delivering this Agreement in reliance upon an exemption from securities registration
afforded by the provisions of Section 4(a)(2) and/or Rule 506 of Regulation D (“Regulation D”) promulgated
by the United States Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933, as amended
(the “Securities Act”); and

 

WHEREAS,
this Agreement has been provided to the Subscriber in connection with an “Offering Summary” dated June 2016,
the Company is offering (the “Offering”) of up to Three Million U.S. Dollars (USD $3,000,000) of the Company’s
shares of common stock, par value $0.001 per share (“Common Stock”), priced at USD $[___] per share (the “Share
Purchase Price”), and five-year warrants to purchase shares of Common Stock, in the form attached to the Offering Summary
as Exhibit C (each whole warrant, a “Warrant” and collectively, the “Warrants”),
in an amount equal to one hundred percent (100%) of the number of shares of Common Stock so purchased by the Subscriber (such
shares issuable pursuant to each Warrant, the “Warrant Shares”, together with the shares of Common Stock subscribed
for hereunder and each Warrant, the “Securities”).

 

WHEREAS,
the Offering Summary, the “Term Sheet” attached to the Offering Summary as Exhibit A, this Agreement
and each Warrant shall be collectively referred to herein as the “Transaction Documents.”

 

NOW,
THEREFORE, in consideration of the mutual covenants and other agreements contained in this Agreement, the Company and Subscriber
hereby agree as follows:

 

	1.		Purchase
                                         and Sale of the Securities. Upon the terms and subject to the conditions set forth
                                         in this Agreement and in consideration of the subscription amount delivered by the Subscriber
                                         to the Company as set forth on the signature page hereof (the “Subscription
                                         Amount”), the undersigned Subscriber agrees to purchase, and the Company agrees
                                         to sell and issue at the Closing:

 

(a)                
a number of shares of Common Stock (“Purchased Shares”) determined based on dividing the Subscription Amount
by the Share Purchase Price; and 

 

(b)                
a Warrant to purchase up to one hundred percent (100%) of the number of shares of Common Stock purchased by the Subscriber hereunder,
at an exercise price equal to the Share Purchase Price or $0.11 per share, whichever is greater, and in accordance with all other
such terms set forth in the Warrant.

 

	2.		Closings.

 

(a)                
The Offering may consist of one or more closings (each a “Closing” and each date upon which a Closing occurs,
a “Closing Date”), with the final closing in connection with the Offering to occur on or before June 30, 2016,
unless otherwise extended or modified by the Company in its sole discretion. 

 

(b)                
A Closing under this Agreement will occur provided that (i) the Subscriber has satisfied all conditions set forth herein, (ii)
the Company has accepted and executed this Agreement, and (iii) the Subscription Amount has been received from Subscriber into
an escrow account held on account of the Company. Upon such Closing, the Subscription Amount held in escrow, less expenses paid
from escrow, will be delivered to the Company. The Purchased Shares and Warrant purchased by the Subscriber hereto will be delivered
to the Subscriber by the Company promptly following the Closing Date. In the event that a Closing does not occur, Subscriber’s
funds will be returned by the Company to the Subscriber, without interest within three (3) business days via wire transfer.

 

    	 		 

    	 

    

 

3.             Subscriber Representations and Warranties. Subscriber hereby represents and warrants to and agrees with the Company that:

 

(a)                
Standing of Subscriber. Subscriber has the legal capacity and power to enter into this Agreement.

 

(b)                
Authorization and Power. Subscriber has the requisite power and authority to enter into and perform this Agreement and
to advance the Subscription Amount and accept the Warrant. The execution, delivery and performance of this Agreement by the Subscriber,
and the consummation by the Subscriber of the transactions contemplated hereby, have been duly authorized by all necessary action,
and no further consent or authorization of Subscriber is required. This Agreement has been duly authorized, executed and delivered
by the Subscriber and constitutes, or shall constitute, when executed and delivered, a valid and binding obligation of the Subscriber,
enforceable against Subscriber in accordance with the terms hereof.

 

(c)                
Information on Subscriber. Subscriber is, and reasonably believes it will be at the time of exercise of the Warrant, an
“accredited investor,” as such term is defined in Regulation D promulgated by the SEC under the 1933 Act, is experienced
in investments and business matters, has made investments of a speculative nature and has purchased securities of United States
publicly-owned companies in private placements in the past and, with its representatives, has such knowledge and experience in
financial, tax and other business matters as to enable the Subscriber to utilize the information made available by the Company
to evaluate the merits and risks of, and to make an informed investment decision with respect to, the proposed purchase, which
the Subscriber hereby agrees represents a speculative investment. The Subscriber has the authority and is duly and legally qualified
to purchase and own the Securities. The Subscriber acknowledges that an investment in the Company’s Securities is highly
speculate and the Subscriber is able to bear the risk of such investment for an indefinite period and to afford a complete loss
thereof.

 

(d)                
Purchase of Securities. The Subscriber will purchase the Securities for its own account for investment and not with a view
toward, or for resale in connection with, the public sale or any distribution thereof in violation of the Securities Act or any
applicable state securities law, and has no direct or indirect arrangement or understandings with any other person or entity to
distribute or regarding the distribution of shares of Common Stock or the Warrant Shares.

 

(e)                
Compliance with Securities Act. The Subscriber understands and agrees that the Securities have not been registered under
the 1933 Act or any applicable state securities laws by reason of their issuance in a transaction that does not require registration
under the 1933 Act (based in part on the accuracy of the representations and warranties of Subscriber contained herein), and that
such Securities must be held indefinitely unless a subsequent disposition is registered under the 1933 Act or any applicable state
securities laws or is exempt from such registration.

 

(f)                 
Share Legend. The Securities shall bear the following or similar legend upon issuance:

 

    	 	2	 

    	 

    

THE SECURITIES WHICH ARE REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT
BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE DISPOSED OF UNTIL A REGISTRATION STATEMENT WITH RESPECT THERETO IS DECLARED EFFECTIVE
UNDER SUCH ACT, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE COMPANY THAT AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF SUCH ACT IS AVAILABLE.

 

(g)                
Communication of Offer. At no time was Subscriber presented with or solicited by any leaflet, newspaper or magazine article,
radio or television advertisement, or any other form of general advertising or solicited or invited to attend a promotional meeting
otherwise than in connection and concurrently with such communicated offer.

 

(h)                
No Governmental Endorsement. Subscriber understands that no United States federal or state agency or any other governmental
or state agency has passed on or made recommendations or endorsement of the Securities, or the suitability of the investment in
the Securities, nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(i)                  
Receipt of Information. Subscriber believes it has received all the information it considers necessary or appropriate for
deciding whether to invest the Subscription Amount in the Company and to accept the Securities. Subscriber further represents
that through its representatives it has had an opportunity to ask questions and receive answers from the Company regarding the
terms and conditions of the offering of the Securities and the business, properties and financial condition of the Company and
to obtain additional information (to the extent the Company possessed such information or could acquire it without unreasonable
effort or expense) necessary to verify the accuracy of any information furnished to it or to which it had access.

 

(j)                 
No Market Manipulation. Subscriber has not taken, and will not take, directly or indirectly, any action designed to, or
that might reasonably be expected to, cause or result in stabilization or manipulation of the price of Common Stock, to facilitate
the sale or resale of the Purchased Shares or affect the price at which the Purchased Shares may be issued or resold.

 

(k)                
Risk of Loss. The Subscriber acknowledges that there may be no market for the Securities and that the Subscriber may not
be able to sell or dispose of the Securities; the Subscriber has liquid assets sufficient to assure that the Subscription Amount
of the Securities will cause no undue financial difficulties and that, after purchasing the Securities the Subscriber will be
able to provide for any foreseeable current needs and possible personal contingencies. The Subscriber is financially able to bear
the economic risk of this investment, including the ability to hold the Securities indefinitely or to afford a complete loss of
the Subscriber’s investment in the Securities.

 

(l)                  
Subscriber Entity. If the Subscriber is a partnership, corporation, trust, or other entity, (i) the Subscriber represents
and warrants that it was not organized or reorganized for the specific purpose of acquiring the Securities, (ii) the Subscriber
has the full power and authority to execute this Agreement on behalf of such entity and to make the representations and warranties
made herein on its behalf, and (iii) this investment in the Company has been affirmatively authorized, if required, by the governing
board of such entity and is not prohibited by the governing documents of the entity.

 

    	 	3	 

    	 

    

 

4.             Company Representations and Warranties. The Company represents and warrants to, and agrees with, Subscriber that:

 

(a)           Due Incorporation. The Company is a corporation duly incorporated, validly existing and in good standing under the laws
of the State of Nevada. The Company is duly qualified as a foreign corporation to do business and is in good standing in every
jurisdiction in which its ownership or use of property or the nature of the business conducted by it makes such qualification
necessary except where the failure to be so qualified or in good standing would not have a Material Adverse Effect. As used in
this Agreement, the term “Material Adverse Effect” means any material adverse effect on the business, operations,
assets, liabilities (actual or contingent), or financial condition of the Company, if any, taken as a whole, or on the transactions
contemplated hereby or by the Transaction Documents.

 

(b)           Authority; Enforceability. The Transaction Documents have been or will be duly authorized, executed and delivered by the
Company and are the valid and binding agreements of the Company, enforceable in accordance with their terms, except as may be
limited by bankruptcy, insolvency, moratorium or other similar laws affecting the enforcement of creditors’ rights generally,
or principles of equity. The Company has full corporate power and authority necessary to enter into and deliver the Transaction
Documents, to perform its obligations thereunder and to issue, sell and deliver the Securities.

 

(c)           Capitalization and Voting Rights.  Information concerning the Company’s capitalization and securities is contained
in the Company’s Annual Report on Form 10-K, filed with the SEC on January 13, 2016. As of June 14, 2016, there were 241,851,884
shares of Common Stock issued and outstanding. All outstanding shares of the Company’s capital stock have been, or upon
issuance will be, validly issued, fully paid and non-assessable. To the Company’s knowledge, all securities of the Company
have been issued in compliance with the Securities Act and applicable state and foreign securities laws. 

 

(d)           Consents. No consent, approval, authorization or order of any court, governmental agency or body having jurisdiction over
the Company or of any other person is required for the execution by the Company of the Transaction Documents and compliance and
performance by the Company of its obligations hereunder and thereunder, including, without limitation, the issuance of the Securities.

 

(e)           No Violation or Conflict. Neither the issuance of the Securities nor the performance of the Company’s obligations
under the Transaction Documents will:

 

(i)                  
violate, conflict with, result in a breach of, or constitute a default (or an event which with the giving of notice or the lapse
of time or both would be reasonably likely to constitute a default) under (a) the charter or bylaws of the Company or (b) any
decree, judgment, order or determination applicable to the Company of any court, governmental agency or body having jurisdiction
over the Company or over the properties or assets of the Company; or

 

(ii)                
result in the creation or imposition of any lien, charge or Encumbrance upon the Purchased Shares except in favor of Subscriber
as described herein;

 

(f)            Shares of Common Stock and the Warrant Shares. Upon issuance, shares of Common Stock and the Warrant Shares:

 

    	 	4	 

    	 

    

 

(i)                  
shall be free and clear of any security interests, liens, pledges, claims or other encumbrances, subject only to restrictions
upon transfer under the Securities Act and any applicable state securities laws;

 

(ii)                
shall have been duly and validly issued, fully paid and non-assessable; and

 

(iii)               
will not subject the holders thereof to personal liability by reason of being such holders.

 

(g)           No General Solicitation. Neither the Company, nor any of its affiliates, nor any person or entity acting on its or their
behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities
Act) in connection with the offer or sale of the Securities.

 

(h)           Investment Company. The Company is not an “investment company” within the meaning of the Investment Company
Act of 1940, as amended.

 

(i)            SEC Filings. To the best of the Company’s knowledge, and to the extent not previously disclosed in the Company’s
current filings with the SEC, the Company has filed all required forms, reports and documents with the SEC, each of which has
complied in all material respects with all applicable requirements of the Securities Act and the Securities Exchange Act of 1934,
as amended and the rules and regulations promulgated thereunder, each as in effect on the dates such forms, reports, and documents
were filed. None of the Company’s SEC filings (the “SEC Filings”), including any financial statements
or schedules included or incorporated by reference therein, contained, when filed, any untrue statement of a material fact or
omitted to state a material fact required to be stated or incorporated by reference therein or necessary in order to make the
statements therein, in light of the circumstances under which they were made, not misleading. The financial statements of the
SEC Filings complied as to form in all material respects with applicable accounting requirements and the published rules and regulations
of the SEC in respect thereof and fairly present, in conformity with GAAP on a consistent basis (except as may be indicated in
the notes thereto), the financial position of the Company as of the dates thereof and its results of operations and changes in
financial position for the periods then ended (subject, in the case of the unaudited interim financial statements, to normal year-end
adjustments). Except as and to the extent disclosed in the SEC Filings, since the date of the latest financial statement included
in the Company’s most recently filed annual report, there has not been any event, occurrence or development which does or
could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

 

(j)         
Full Disclosure. No representation or warranty in this Agreement, in the SEC Filings or in any written certificate, schedule,
statement or other document prepared by or on behalf of the Company for the Subscriber and furnished by the Company to the Subscriber
pursuant to this Agreement contains any untrue statement of a material fact or omits to state any material fact required to be
stated herein or therein or necessary to make the statements herein or therein not misleading in light of the circumstances under
which they were made. To the Company’s knowledge, there is no material fact or information, individually or in the
aggregate, relating to the business, prospects, condition (financial or otherwise), affairs, operations, assets or properties
of the Company that has not been disclosed to the Subscriber by the Company and which is reasonably necessary to enable the Subscriber
to make its investment decision.

 

    	 	5	 

    	 

    

 

(k)Litigation.
There is no action, suit, proceeding or investigation pending or, to the Company’s knowledge, currently threatened against
the Company. The Company is not a party or subject to the provisions of any order, writ, injunction, judgment or decree of any
court or government agency or instrumentality. There is no action, suit, proceeding or investigation by the Company currently
pending or that the Company intends to initiate.

 

5.             Broker’s Commission/Finder’s Fee. Each party hereto represents to the other that there are no parties entitled
to receive fees, commissions, finder’s fees, due diligence fees or similar payments in connection with the consummation
of the transactions contemplated hereby, other than those fees payable by the Company pursuant to a Letter of Engagement between
the Company and Maxim Group, LLC, as placement agent, dated October 14, 2015, the terms of which are summarized in the Offering
Summary.

 

6.             Covenants Regarding Indemnification. Each party hereto agrees to indemnify, hold harmless, reimburse and defend the other
party and the other party’s officers, directors, agents, counsel, affiliates, members, managers, control persons, and principal
shareholders, as applicable, against any claim, cost, expense, liability, obligation, loss or damage (including reasonable legal
fees) of any nature, incurred by or imposed upon the indemnified party or any such person which results, arises out of or is based
upon (i) any breach of any representation or warranty by the indemnifying party in this Agreement or (ii) any breach or default
in performance by the indemnifying party of this Agreement or any covenant or undertaking to be performed by the indemnifying
party hereto.

 

7.             Post-Closing Registration Covenants. The Company shall:

 

(a)                
Take all actions to permit the Subscriber to sell all of the Purchased Shares and Warrant Shares (the “Total Shares”)
pursuant to Rule 144, including, but not limited to, making and keeping public information available, and filing all required
SEC reports and other documents in a timely manner. 

 

(b)                
In addition, within twenty (20) days after the date of the final Closing of the Offering (“Filing Date”), the
Company shall use commercially reasonable efforts to prepare and file with the SEC a registration statement covering the Total
Shares for an offering to be made on a continuous basis pursuant to Rule 415 (the “Registration Statement”).
The Company shall use commercially reasonable efforts to cause the Registration Statement to be declared effective under the Securities
Act within one hundred twenty (120) days after the filing thereof.  The Company shall use commercially reasonable efforts
to keep the Registration Statement continuously effective under the Securities Act until the date that is the earliest of (i) the
two (2) year anniversary of the effective date of the Registration Statement,  (ii) when the Warrants have been fully exercised
or have terminated and all of the Total Shares have been sold by the Subscriber and (iii) the Warrants have been fully exercised
or have terminated and all of the Total Shares may be sold immediately without registration under the Securities Act and without
volume restrictions pursuant to Rule 144(k), as determined by the counsel to the Company pursuant to a written opinion letter
to such effect addressed and acceptable to the Company’s transfer agent and the Subscriber.

 

(c)                
If, after the date hereof and prior to the date the Registration Statement under subsection 7(b) above becomes effective, the
Company proposes to register any shares of Common Stock under the Securities Act for sale to the public for the account of other
security holders, the Company will cause the Total Shares to be included with the securities to be covered by the registration
statement proposed to be filed by the Company.

 

(d)                
This Section 7 shall survive the Closings. 

 

    	 	6	 

    	 

    

 

8.            
Most Favored Nations. 

 

(a)  In
the event that the Company completes a subsequent Closing of the Offering (a “Subsequent Closing”) or a public
or private offering and sale of One Million United States Dollars (USD $1,000,000) or more of Common Stock or warrants to purchase
Common Stock (a “Subsequent Offering”) during the period beginning on the date of the first Closing of this
Offering and ending on the six (6) month anniversary thereof, where such Subsequent Closing or Subsequent Offering provides for
material deal terms and conditions more favorable than the material deal terms outlined in the Term Sheet and agreed to in this
Agreement, then this Agreement shall be deemed to be modified to provide Subscriber with those more favorable material deal terms
and conditions. In any such event, the Company shall take all reasonable steps necessary to amend any agreement or the Securities
and/or issue new securities to the Investor reflecting such more favorable material deal terms and conditions.

 

(b)  The
Company shall notify Subscriber promptly of the existence of such more favorable material deal terms and conditions and Subscriber
shall have the right to receive the more favorable material deal terms and conditions immediately, provided that the Subscriber
responds to the Company in writing within fifteen (15) days of receipt of such notice providing its request to receive such more
favorable material deal terms and conditions. In addition, if timely requested in writing by the Subscriber, the Company shall
amend this Agreement to reflect the more favorable material deal terms and conditions.

 

(c)  This
Section 8 shall survive the Closings.

 

9.             Miscellaneous.

 

(a)            Notices. All notices, requests, demands, claims and other communications hereunder shall be in writing and shall be delivered
by certified or registered mail (first class postage pre-paid), guaranteed overnight delivery, or email or facsimile transmission
if such transmission is confirmed, by certified or registered mail (first class postage pre-paid) or guaranteed overnight delivery,
to the following addresses (or to such other addresses which such party shall subsequently designate in writing to the other party):

 

(i)if
to the Company:

 

_______________________

_______________________

_______________________

 

with
a copy to:

 

_______________________

_______________________

_______________________

 

 (ii)If to Subscriber, to the address set forth next to its name on the signature page hereto.

 

(b)            Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject
matter hereof and may be amended only by a writing executed by both parties hereto. Neither the Company nor Subscriber has relied
on any representations not contained or referred to in this Agreement and the Offering Summary delivered herewith. 

 

    	 	7	 

    	 

    

 

(c)            Counterparts/Execution. This Agreement may be executed in any number of counterparts and by the different signatories hereto
on separate counterparts, each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute
but one and the same instrument. This Agreement may be executed by email transmission, PDF, electronic signature or other similar
electronic means with the same force and effect as if such signature page were an original thereof.

 

(d)            Law Governing this Agreement and Disputes. This Agreement shall be governed by and construed in accordance with the laws
of the State of Nevada without regard to principles of conflicts of laws. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY RIGHT
IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. 

 

The
parties to this Agreement shall submit all disputes arising under the Transaction Documents to arbitration in New York, New York
before a single arbitrator of the American Arbitration Association (the “AAA”). The arbitrator shall be selected
by application of the rules of the AAA, or by mutual agreement of the parties, except that such arbitrator shall be an attorney
admitted to practice law in the State of New York. No party hereto will challenge the jurisdiction or venue provisions as provided
in this section. Nothing in this section shall limit the Subscriber’s right to obtain an injunction for a breach of this
Agreement from a court of law. Any injunction obtained shall remain in full force and effect until the arbitrator fully adjudicates
the dispute.

 

(e)            Severability. In the event that any provision of this Agreement or any other agreement delivered in connection herewith
is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the
extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision
which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision
of any agreement. 

 

(f)             Counsel; Ambiguities. Each party and its counsel have participated, or have had the opportunity to participate, fully in
the review of this Agreement and the other Transaction Documents. The parties understand and agree that any rule of construction
to the effect that ambiguities are to be resolved against the drafting party shall not apply in interpreting the Transaction Documents.

 

(g)            Expenses. The Company and the Subscriber will each bear their own legal and other expenses with respect to the Offering.

 

(h)            Headings. The headings of the various sections and paragraphs of this Agreement have been inserted only for the purposes
of convenience; such captions are not a part of this Agreement and shall not be deemed in any manner to modify, explain, enlarge
or restrict any of the provisions of this Agreement.

 

    	 	8	 

    	 

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed on and as of the date set forth above.

 

THE
COMPANY:

 

	 	BLUE
    SPHERE CORPORATION
	 	 	 	 
	 	 	 	 
	 	By:	 	 
	 	Name:	Shlomi
    Palas	 
	 	Title:	Chief
    Executive Officer	 

  

 

SUBSCRIBER:

 

The
undersigned signatories hereby certify that he/she has read and understands the Transaction Documents, and that the representations
made by the undersigned in said documents are true and accurate.

 

Contact
information

 

	Address:
    	 	 
	 	 	 
	 	 	 
	 	 	 
	Phone
    Number:	 	 
	Fax
    Number:	 	 
	Email:	 	 
	 	 	 
	Taxpayer
    ID:	 	 
	 	 	 	 
	Subscription
    Amount:	$	 	(USD)
	 	 	 	 
	Purchased
    Shares:	 	 	 	 
	 	 	 	 
	Name
    of Subscriber: 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 
	 		(signature)
	 	 	 	 
	 		By: 	 	 	 	 
	 		Title:	 	 	 	 
	 		Dated:	June ______, 2016

 

 

[Signature
Page to Securities Subscription Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00260-of-00352.parquet"}]]