Document:

Exhibit 10.23

FIRST
AMENDMENT TO

COLLATERAL
PROTECTION AGREEMENT

This First Amendment to the Collateral Protection Agreement (“First
Amendment”) is entered into as of October 30, 2006, by and between JD Design,
LLC, a California limited liability company (“JD Design”), and Innovo Group,
Inc., a Delaware corporation (collectively, with its subsidiary Joe’s Jeans,
Inc., “Innovo”).

W
I T N E S S E T H:

WHEREAS, Innovo and JD Design previously entered into that certain
Collateral Protection Agreement dated October 13, 2006; and

WHEREAS, the parties deem it to be in its best interest to modify the
Collateral Protection Agreement to amend the provision that provides for the
issuance of those certain Default Shares (as defined therein) under Section
1.4; and

NOW THEREFORE, FOR AND IN CONSIDERATION of the mutual promises,
covenants and conditions set forth herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereby agree as follows:

1.                                       Section 1.4 of the Collateral Protection Agreement is hereby
amended by deleting the phrase “(i) $0.01” and replacing it with “(i) $0.52”.

2.                                       Section
1.4 of the Collateral Protection Agreement is hereby amended by deleting the
phrase “(ii) closing stock price of Innovo as reported by the NASDAQ Stock
Market, Inc., on the date upon which JD Design fulfills its obligations under
the Guaranty to CIT (the “Default Shares”)” and replacing it with “(ii) closing
bid price of the common stock of Innovo as reported 

 1
 

by the NASDAQ Stock Market, Inc., at the time
immediately preceding the time upon which JD Design fulfills its obligations
under the Guaranty to CIT (the “Default Shares”).”

3.                                       Except
as set forth herein or as amended by this First Amendment, all other terms and
conditions of the Collateral Protection Agreement shall remain the same and
shall be in full force and effect.  Any
capitalized terms not otherwise defined herein shall have the same meaning as
set forth in the Collateral Protection Agreement.  In the event of a conflict between this First
Amendment and the Collateral Protection Agreement, the Collateral Protection
Agreement shall govern.

4.                                       This
First Amendment may be executed in two or more counterparts, each of which
shall be deemed to be an original, and all of which, taken together, shall
constitute one and the same instrument.

[REMAINDER
OF THIS PAGE INTENTIONALLY LEFT BLANK. 
SIGNATURE PAGE FOLLOWS.]

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IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be
executed as of the date first set forth above.

	
  

  	
   

  	
  INNOVO GROUP INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Marc
  Crossman

  
	
   

  	
  Its:

  	
  President and CEO

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  JD DESIGN, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Joe Dahan

  
	
   

  	
  Its:

  	
  Member Manager

  

 

 3Unassociated Document

    Exhibit
      10.94

     

    First
      Amendment to

    Financial
      Services and Business Development Consulting Agreement

    

    This
      First Amendment to Financial Services and Business Development Consulting
      Agreement ("First Amendment") is entered into as of February 8, 2007, to be
      effective as of January 1, 2007, by and among Dionysos Investments (1999) Ltd.,
      an Israeli company ("Dionysos"), and Xfone, Inc., a Nevada corporation
      ("Client").

    

    WHEREAS,
      Dionysos and the Client entered into that certain Financial Services and
      Business Development Consulting Agreement dated November 18, 2004 (the
      "Consulting Agreement") and desire to amend Section 2 of the Consulting
      Agreement pursuant to the recommendations of the Audit Committee of the Client
      and the resolutions of its Board of Directors dated December 25, 2006, and
      February 4, 2007.

    

    NOW,
      THEREFORE, in consideration of the foregoing recitals and other good and
      valuable consideration, the parties do hereby agree as follows (capitalized
      terms used herein have the same meaning as defined in the Consulting Agreement,
      unless otherwise specified herein).

    

    1. Amendment.
      Section
      2 of the Consulting Agreement is hereby amended in its entirety to read as
      follows:

    

    "Compensation.
      (i) The
      parties agree that Dionysos will be compensated by Client for the Services
      provided to the Client in the amount of Eight Thousand British Sterling Pounds
      (£8,000) per month, beginning on January 1, 2007; (ii) In addition, Client will
      pay Dionysos a one time success fee in the amount of Ten Thousand British
      Sterling Pounds (£10,000), for initiating, establishing and developing the
      relationship between the Client and certain Israeli financial institutions
      during fiscal years 2005-2006, relationships which resulted in significant
      investments made by certain Israeli financial institutions; (iii) In addition,
      Client will pay Dionysos a success fee for any future investments in the Client
      made by Israeli investors during fiscal year 2007, provided such investments
      were a direct or indirect result of the Services provided to the Client. The
      success fee will be equal to 0.5% (half percent) of the gross proceeds of such
      investments; (iv) In addition, Client will reimburse Dionysos, based on prior
      approval by the Audit Committee of the Client, for expenses incurred on behalf
      of the Client, which expenses will include travel, hotel, meals, courier, report
      reproduction and other administrative costs when and where needed. Compensation
      for any additional services provided by Dionysos for the Client shall be as
      agreed by the parties. 

    

    The
      parties agree that the abovementioned compensation will only apply to fiscal
      year 2007, and then be reviewed and reconsidered by the Audit Committee and
      Board of Directors of the Client in December 2007. In the event the Board of
      Directors of the Client, exercising sole discretion, decides not to approve
      the
      abovementioned compensation for fiscal year 2008, Dionysos will have the option,
      in its sole discretion, to terminate this Agreement, or continue and provide
      the
      Services in return for the same compensation which was paid to it in fiscal
      years 2005-2006 (i.e. fee of £3,000 per month plus reimbursement of
      expenses)."

    
      

      
        
          
          

        

        
          -1-

          
            

          

        

        
          
          

        

      

    2. Ratification.
      The
      Consulting Agreement as amended hereby is ratified and affirmed, and except
      as
      expressly amended hereby, all other terms and provisions of the Consulting
      Agreement remain unchanged and continue in full force and effect. Without
      prejudice to the generality of the above, it is hereby declared that the Audit
      Committee and Board of Directors of the Client approved the automatic renewal
      of
      the Term of the Consulting Agreement for an additional two-year period, ending
      on December 31, 2008.

    

    3. Execution.
      This
      First Amendment may be executed simultaneously in multiple counterparts, each
      of
      which will be deemed an original, but all of which together shall constitute
      one
      and the same instrument. The parties hereto agree to accept facsimile signatures
      as an original signature.

    Executed
      as of the day and year first above written.

    

    
      	
              Dionysos
                Investments (1999) Ltd.

            	 	 	
              Xfone,
                Inc.

            
	 	 	 	 
	/s/ Haim
              Nissenson 	 	 	/s/ Abraham
              Keinan
	
              
Haim
              Nissenson 	 	 	
              
Abraham
              Keinan
	Title:
              Managing
              Director 	 	 	Title:
              Chairman of
              the Board 

    

    

    
      
        
        

      

      
        -2-Unassociated Document

    Exhibit
      10.95 

    Agreement

    

    This
      Agreement is entered into on February 8, 2007, to be effective as of January
      1,
      2007, by and between Xfone,
      Inc.
      (“Xfone”), Swiftnet
      Limited
      (“Swiftnet”), Campbeltown
      Business, Ltd.
      (“Campbeltown Business”), and Mr.
      Abraham Keinan
      (“Mr.
      Keinan”).

    

    WHEREAS,
      reference is made to that certain Agreement dated May 11, 2000, by and between
      Swiftnet, Mr. Keinan, and Campbeltown Business (the “Consulting Agreement”);
      and

    

    WHEREAS,
      reference is made to that certain resolution of the Board of Directors of Xfone,
      dated April 2, 2002, which provided that if Xfone receives monthly revenues
      in
      excess of $485,000 then each of Mr. Keinan and Campbeltown Business shall
      receive, as a bonus and success fee, 1% of the revenues for each month where
      Xfone’s revenues reach $485,000, up to a maximum of one million dollars (the
“Bonus and Success Fee”); and 

    

    WHEREAS,
      in light of certain resolutions approved and adopted by the Board of Directors
      of Xfone on December 25, 2006, and February 4, 2007, Xfone and/or Swiftnet
      and/or Campbeltown Business and/or Mr. Keinan desire to cancel the Bonus and
      Success Fee, and to terminate the Consulting Agreement, effective as of January
      1, 2007.

    

    NOW,
      THEREFORE, in consideration of the foregoing recitals and other good and
      valuable consideration, the parties do hereby agree as follows:

    

    1. Cancellation
      of the Bonus and Success Fee.
      Effective January 1, 2007, the Bonus and Success Fee is hereby cancelled, and
      Campbeltown Business and Mr. Keinan shall have no further right to any
      percentage of Xfone’s revenues.

    

    2. Termination
      of the Consulting Agreement.
      Effective January 1, 2007, the Consulting Agreement is hereby terminated.

    

    3. Execution.
      This
      Agreement may be executed simultaneously in multiple counterparts, each of
      which
      will be deemed an original, but all of which together shall constitute one
      and
      the same instrument. The parties hereto agree to accept facsimile signatures
      as
      an original signature.

    

    
      	
              Xfone,
                Inc.

            	 	
              Swiftnet
                Limited

            

    

    

    
      	
              By:
                /s/ Guy Nissenson

            	 	
              By:
                /s/
                Abraham Keinan

            

    

    
      	
              Name:
                Guy Nissenson 

            	 	
              Name:
                Abraham Keinan

            

      	Title: President and CEO 	 	Title: Chairman of the Board

    

     

    

    
      	
              Campbeltown
                Business, Ltd.

            	 	
              Abraham
                Keinan

            

    

    

    
      	
              By:
                /s/
                Haim Nissenson

            	 	
              /s/
                Abraham Keinan

            

    

    Name:
      Haim Nissenson 

    Title:
      Managing Director

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