Document:

Exhibit 10.1

      BELLACASA PRODUCTIONS, INC.

       237 Cedar Hill Street, Suite 4

       Marlborough, MA 01752

      

      Frank LaLoggia

       Via Collina 40

       Monte Firdolfi S. Casciano

       Florence, 50026, Italy

      Re: Bellacasa Productions, Inc. (the "Company")

      Dear Mr. LaLoggia:

      You own 4,710,010 shares (the "Shares") of the common stock, par value $0.0001 per share ("Common Stock") of the Company, and have owned the Shares for more than two years. Also, you have not been an officer, director or affiliate of the Company for more than 90 days prior to the date hereof. You have requested that the Company remove the restrictive legend on the Shares. The Company expressed certain concerns about certain aspects of the operations of the Company at the time you were a control person thereof. Following discussions with you, the Company agrees to remove the restrictive legend on the Shares subject to the terms and conditions of this letter agreement, as follows:

      
        	Subject to the provisions below, you may sell no more than twenty-five percent (25%) of the Shares, or 1,177,500 Shares (the "Yearly Amount") during each of the four one year periods commencing on December 1, 2006 or the date of this Agreement, whichever occurs later (each a "Year") except as specified below. Immediately upon the commencement of each Year, the Company will deliver to you that number of stock certificates, as reasonably designated by you, aggregating 1,177,500 of the Shares without a restrictive legend. The cost of reissuing the stock certificates in both legended and unlegended form shall be paid by the Company. So that this is not abused, you will not request reissuance of the unlegended stock certificates in less than 50,000 share denominations if the stock is trading at less than $.51 per share, and if the stock is trading at $.51 per share or more, the minimum share denomination is reduced to 20,000 shares.

          

          
	Notwithstanding the foregoing, if officers, directors or any other control person (or their affiliates) in the aggregate during any Year sell a number of shares greater than the Yearly Amount, you may sell an additional amount during that Year or the following Years equal to fifty percent (50%) of the amount sold by such officers, directors or any other control person (or their affiliates) to the extent such amount exceeds the Yearly Amount. As an example, if our officers and directors sell 1,800,000 shares in a Year, you may sell an additional 311,250 Shares beyond the Yearly Amount in that sameYear or, subject to the limitations described in Section 3 below, the following Year.

          

          
	If in any Year you sell less than the Yearly Amount or, as applicable, a larger number of Shares that you are otherwise permitted to sell hereunder, you may carry over any such Shares not sold to, and sell those Shares in, subsequent Years, provided that this right shall be limited so that in no event shall you have the right to sell Shares in any Year in an amount more than the greater of (a) 1,800,000 Shares, or (b) that number of Shares equal to twenty percent (20%) of the total trading volume in the Common Stock in the prior Year.

          

          
	The Company agrees promptly to cause its transfer agent to remove the restrictive legend on stock certificates other than those required to be furnished without a restrictive legend under Section 1 hereof representing any and all additional Shares that you are permitted to sell hereunder, and if necessary to instruct its counsel to promptly issue an opinion confirming to the transfer agent the right to have such legend removed.

          

          
	In the event that Bellacasa and/or Aquamer is acquired by or merges with another entity prior to January 1, 2010, and as a result thereof you will own less than 3% of the outstanding shares of Common Stock, then 50% of the number of shares then owned by you in the Company and any affiliate thereof will have no restrictive legend and six (6) months after the effective date of the acquisition/merger the restrictive legend shall be removed on the remaining shares of the Company, or any affiliate thereof, then owned by you.

          

          
	If the minimum number of Shares increases due to application of the terms hereof, upon your written request to the Company the legend shall thereupon be promptly removed as to such additional Shares able to be sold hereunder.

            

          
	Adjustment for Dividends, Splits, Reverse Splits. In the event that the Company or any successor thereto shall (a) issue additional shares of Common Stock as a dividend or other distribution on outstanding Common Stock, (b) subdivide its outstanding shares of Common Stock, or (c) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then, in any such event, simultaneously with the occurrence thereof your shares and the number(s) of shares used in this Agreement shall be proportionately adjusted.

          

          
	In the event of a breach of this Agreement by either party, the prevailing party in any action, suit or proceeding relating to such breach shall be entitled to be reimbursed by the non-prevailing party for all reasonable legal fees, costs and expenses in connection therewith.

          

          
	All restrictions on the sale of your stock imposed by this Agreement shall cease as of December 1, 2010.

          

          
	This Agreement constitutes the entire agreement of the parties pertaining to the subject matter hereof, and the parties have made no agreements, representations or warranties relating to the subject matter of this Agreement that are not set forth herein.

          

          
	This Agreement may not be modified, amended or waived in any manner except by an instrument in writing signed by each of the parties hereto.

          

          
	The waiver by either party of compliance with any provision of this Agreement by the other party shall not operate or be construed as a waiver of any other provision of this Agreement, or of any other breach by such party of a provision of this Agreement.

          

          
	Neither party may assign its rights or obligations hereunder, except that if you become incapacitated or die before December 1, 2010, your guardian, executor(s) or any designee with a power of attorney in form reasonably acceptable to the Company and its counsel shall have the right to sell such Shares and enforce this Agreement.

          

          
	This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflicts of laws principles thereof.

          

          
	Neither party shall take any action with the intention or result that such action directly or indirectly circumvents the intentions or provisions hereof.

          

          
	This Agreement may be executed in any number of counterparts, and each counterpart shall constitute an original instrument, but all such separate counterparts shall constitute only one and the same instrument.

          

          
	This Agreement shall be interpreted as having been drafted jointly by the parties and each party was represented by counsel of his or its choice and each party has carefully reviewed this Agreement.

          

          
	This Agreement and the rights and obligations hereunder shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and permitted assigns, and no other person shall acquire or have any rights under or by virtue of this Agreement.

      

      

      
        Very truly yours,

        

         Dated: January 31, 2007

        

         BELLACASA PRODUCTIONS, INC.

        

         By: /s/ Marshall Sterman

         Marshall Sterman, President

        

      

      ACCEPTED AND AGREED AS OF

       THE DATE FIRST ABOVE WRITTEN:

      /s/ Frank LaLoggia

       Frank LaLoggia6-K

Exhibit 4.1  

LOAN AGREEMENT  

        THIS
LOAN AGREEMENT (this “Agreement”) made as of the 31st day of
January 2007, by and between Attunity Ltd., an Israeli company (number 52-003801-9), of
Kfar Netter Industrial Park, Kfar Netter 40593, Israel (the “Company”)
and Plenus Technologies, Ltd, an Israeli company, Plenus II, LP, a limited
partnership organized under the laws of Israel, and Plenus II (DCM), LP, a limited
partnership organized under the laws of Israel (collectively, “Plenus” or
the “Lender”).For the purposes of this Agreement, including all of its
schedules and exhibits, the “Effective Date” shall be the Closing Date. 

W I T N E S S E T H: 

WHEREAS, the Company wishes to obtain
a loan of up to three million dollars ($3,000,000), comprised of an initial installment of
two million dollars ($2,000,000) and an additional installment of one million dollars
($1,000,000) upon the achievement of a certain milestone (collectively referred to as the
“Loan” or the “Loan Amount”) from the Lender on the terms and
conditions set forth in this Agreement; 

WHEREAS, prior to the date hereof,
the Company has repaid all outstanding amounts due pursuant to the Loan Agreement between
the Company and Plenus Technologies, Ltd. dated as of May 1, 2006; and 

WHEREAS, the Lender is willing to
extend the Loan to the Company on the terms and conditions set forth in this Agreement. 

        NOW
THEREFORE, the parties hereto hereby agree as follows:  

         1.       
          Loan, Warrant and Security. 

    1.1       Loan
Amount. The Lender hereby undertakes to loan to the Company and the Company
undertakes to borrow from the Lender the Loan in the amount of up to three million
dollars ($3,000,000), as more fully detailed herein.  

    1.2        Disbursement.
The Loan Amount shall be disbursed in two installments as follows: The first installment
in the amount of two million dollars ($2,000,000) shall be disbursed at the First Closing
(as defined below), which shall take place on or before January 31, 2007. The second
installment in the amount of one million dollars ($1,000,000) shall be conditioned upon
the Company’s achievement of the milestone described in Exhibit 1.2 attached hereto (“Milestone”) and shall be disbursed at the Second
Closing (as defined below). Notwithstanding anything to the contrary herein, in the event
the Company fails to achieve the Milestone, the Lender shall not be obligated to disburse
the second installment. The disbursement of any portion of the Loan Amount shall be
subject to the fulfillment of the conditions set forth in Sections 1.4 and 1.5 below.  

The Loan Amount shall be transferred
by the Lender to the Company by means of wire transfer in accordance with wire
instructions to be provided in writing to Plenus by the Company from time to time, or, if
no other instructions are given, to: 

Attunity Ltd.

United Mizrahi Bank

26, Haneviim Street

Haifa, ISRAEL

Hadar Branch Haifa, # 441

Account # 578600

Swift code: MIZBILITA 

    1.3        Warrants.
At the First Closing, the Company shall issue to the Lender four (4) warrants, in the
forms attached hereto as Exhibit A1 through Exhibit A4 (collectively
the “Warrants”), in the name of Plenus Technologies Ltd. and Plenus II,
LP, for the purchase of Warrant Shares (as defined in the Warrants) in accordance with
the terms thereof, it being agreed that, in no event whatsoever, shall the exercise price
of the Warrants attached hereto as Exhibit A3 and Exhibit A-4 be
lower than $0.18 per share (subject to adjustment upon a stock split, stock dividend or
similar event).  

    1.4        First
Closing. Concurrently with the execution and delivery of this Agreement, the Company
shall deliver to Plenus the documents referred to in clauses (i) and (ii) below, and
within thirty (30) days thereafter all of the other documents referred to in clauses
(iii) through (vi) below: (i) the Warrants duly executed by the Company; (ii) a Floating
Charge Agreement (the “Floating Charge Agreement”) and a Fixed
Charge Agreement (the “Fixed Charge Agreement”) by and between the
Lender and the Company, in the forms attached hereto as Exhibit B1 and
Exhibit B2, respectively, duly executed by the Company; (iii) copies
of forms for creating a floating charge (as per Exhibit C1) and
fixed charge (as per Exhibit C2), both duly signed by the Company;
(iv) a certificate from the Secretary of the Company certifying that the Company’s
Board of Directors resolved to (a) authorize the Company to enter into this Agreement,
the Floating Charge Agreement and the Fixed Charge Agreement, (b) authorize the issuance
of the Warrant to Plenus and reserving a sufficient number of Ordinary Shares to be
issued upon exercise of the Warrant, in the event that Plenus elects to exercise the
Warrant into such shares, and (c) authorize an officer of the Company to execute and
deliver all of such documents and their respective exhibits and schedules; (v) waivers,
consents and approvals in respect of the transactions contemplated herein, including, but
not limited to, regarding pre-emptive rights, registration rights and other rights of
third parties, including, without limitation, creditors and governmental entities, if
applicable; and (vi) a legal opinion by counsel to the Company, a copy of which is
attached hereto as Exhibit D.  

The date on which all of the above
documentation shall be delivered to Plenus to its satisfaction (except for any
documentation that is waived by Plenus) and all of the requirements set forth in Section
1.5, below, are fulfilled shall be referred to herein as the “First Closing
Date” (and such date shall be considered the “First
Closing”), which shall take place on or before February 28, 2007. 

Without detracting from the
Company’s obligation to timely furnish Plenus with all of the documents set forth
above, the obligations of the Lender pursuant hereto shall be subject to receipt of all of
such documents, and the Lender shall have the right to terminate this Agreement by written
notice to the Company should the Company breach its obligation to furnish the said
documents within the specified period. 

    1.5        Security.
(a) In accordance with the terms and the conditions of the Floating Charge Agreement and
the Fixed Charge Agreement, the Company agrees to secure the repayment of the Loan Amount
and unpaid Interest (as defined below) by creating a first priority floating charge on
the Company’s present and future tangible and intangible assets and rights of any
kind, whether contingent or absolute, as more fully set forth in the Floating Charge
Agreement, and a first priority fixed charge on the Company’s intellectual property,
as more fully set forth in the Fixed Charge Agreement for the benefit of the Lender.  

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		     (b)        The
Company shall file the forms for creating a floating charge and fixed charge
          (Exhibits C1 and C2) with the Companies Registrar and provide Plenus stamped
          copies thereof to indicate filing.  

    1.6        Second
Closing. The disbursement of the additional installment of the amount of one million
dollars ($1,000,000) shall take place at a closing (the “Second Closing”).
Such Second Closing shall occur within ten (10) business days following the receipt by
Plenus of a certificate signed by the Company’s independent auditors (an “Auditors’ Certificate”),
certifying that that the Company has fully achieved the Milestone.  

    1.7        Seniority.
The Loan evidenced by this Agreement is hereby expressly stated to be senior in right of
payment to any current or future indebtedness of the Company (whether reflected in the
balance sheet or not), except for the indebtedness incurred in the ordinary course of
business.  

    1.8        Term.
The term of the Loan will commence on the First Closing Date and terminate on the third
anniversary of the First Closing Date (the “Term”), unless this
Agreement is earlier terminated or repayment is accelerated in accordance with this
Agreement.  

    1.9        Old
Warrants. Subject to the First Closing, the expiration dates of the warrants listed
in Exhibit 1.9 hereto (the “Old Warrants”) are hereby extended to
5 (five) years from the First Closing Date. Upon surrender of the Old Warrants to the
Company, Plenus Technologies Ltd. shall be entitled to receive new warrants reflecting
the new expiration date.  

         2.       
          Payments. 

    2.1        Repayment
Date. The Loan Amount together with all accrued and unpaid Interest (as defined
below) shall be re-paid in full by the expiration of the Term (the “Repayment Date”),
as per the installment payment plan set forth in Sections 2.2 and 2.3 below.  

    2.2        Payment
of Loan Amount. The Company shall repay the outstanding Loan Amount to the Lender in
twelve (12) equal monthly installments each commencing on the first day of the 25th month
following the First Closing Date.  

    2.3        Interest
on Loan Amount and Payment thereof. Interest on the Loan Amount shall accrue and be
paid by the Company as follows:  

         (a)       
          From the First Closing Date and the Second Closing Date, as applicable, through
          the Repayment Date, the Company shall pay to the Lender interest on the
          outstanding Loan Amount at a floating annual rate of the LIBOR rate published on
          the first day of each calendar quarter for three months plus four and
          one-quarter percent (4.25%). All said interest accrued, plus value added tax
          (“VAT”), if applicable, is hereinafter referred to as the
          “Interest”. 

         (b)       
          The Interest accrued in each calendar quarter during the Term shall become due
          and payable on the first day of the next ensuing calendar quarter, with the
          first Interest payment due and payable on April 1, 2007, and the Interest
          accrued during the last quarter or partial quarter within the Term, shall become
          due and payable on the Repayment Date. In the event the Company is legally
          obliged to deduct tax at source (“withholding tax”) from any Interest
          payment, it shall do so and provide the Lender with sufficient confirmation
          evidencing such deduction. Alternatively, Lender may provide the Company with a
          tax deduction exemption from the Income tax authorities. 

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    2.4        Interest
on Late Payment. Any amount owing by the Company to the Lender hereunder which is not
paid by the Company on its due date shall bear an additional five percent 5% interest per
annum, plus VAT if applicable; which additional interest shall be compounded daily.  

    2.5        Manner
of Payment. All payments to be made by the Company to the Lender shall be made to the
following account: Plenus – account number 133021 at United Mizrachi Bank Ltd.,
Branch No. 522, located in Herzliya, Swift Code: MIZBILIT.  

    2.6        Early
Termination. The Company may terminate this Agreement, prospectively, at any time
before the Repayment Date, by providing Plenus with a notice in writing indicating its
intention to terminate this Agreement, in the form attached hereto as Exhibit F, provided
that upon delivery of such notice to the Lender, (i) the Company shall have satisfied all
of its obligations under this Agreement (including all exhibits and schedules hereto),
(ii) all amounts due from the Company pursuant to this Agreement, on account of the Loan
Amount, the Interest, late payment interest, or otherwise, shall have been paid in full
(iii) the Warrants (as defined below) shall have been issued to the Lender, and (iv) the
Company shall not have any outstanding debts to the Lender pursuant to or in connection
with this Agreement.  

    2.7        Prepayment.
Notwithstanding anything to the contrary herein contained, the Company may prepay the
Loan Amount, in whole or in part (provided that each prepayment is in an amount not lower
than two hundred thousand dollars ($200,000) or all outstanding amounts due, whichever is
lower), plus Interest accrued thereon (proportionately, if applicable), at any time,
subject to the Company providing the Lender with at least thirty (30) days prior written
notice of such intention to prepay.  

    2.8        Set-off.
The Lender may set-off any obligation owed to them by the Company under this Agreement,
the Floating Charge Agreement, the Fixed Charge Agreement or the Warrant (together, the
“Transaction Documents”) against any obligation owed by the Lender to
the Company, regardless of the place of payment, booking branch or currency of either
obligation, upon giving the Company seven (7) days’ prior written notice. If an
obligation is not liquidated or unascertained, the Lender may set-off in an amount
estimated by them in good faith to be the amount of that obligation. If obligations are
in different currencies, the Lender may convert either obligation at a market rate of
exchange in its usual course of business for the purpose of the set-off. The Lender shall
not be obliged to exercise any right given to them under this Section 2.6. In the event
that the foregoing set-off is made by the Lender, any amounts set-off will be deemed to
be payment as described in Section 2 above. The Company may not set-off any obligation
owed to it by the Lender against any obligation it owes to the Lender under the
Transaction Documents.  

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         3.       
          Acceleration. 

        Notwithstanding
anything herein to the contrary, the entire Loan Amount, together with accrued and unpaid
Interest to date, shall be due and payable at any time without any further demand,
immediately upon the occurrence of any of the events described below (“Event of
Acceleration”), unless otherwise provided herein: 

          		    (i)       
               the Company fails to pay any sum due from it under any of the Transaction
               Documents at the time, in the currency and in the manner specified therein, or
               otherwise is in material breach of any of the Transaction Documents and the same
               is not remedied within seven (7) days, in case of non-payment, or fourteen (14)
               days in case of any other breach; or 

               

          		    (ii)       
               the Company performs a general readjustment or rescheduling or another
               arrangement regarding its indebtedness pursuant to Section 350 to the Israeli
               Companies Law, 1999 (the “Companies  Law”) or otherwise; or
               makes a general assignment for the benefit of, or a composition with, its
               creditors pursuant to Section 350 to the Companies Law or otherwise; or 

               

          		    (iii)       
               any indebtedness of the Company to a third party for borrowed money in the
               amount of more than $100,000 is not paid when due; or any indebtedness of the
               Company to a third party for borrowed money in the amount of more than $100,000
               becomes capable of being declared by such third party to be, or is declared, due
               and payable prior to its specified maturity; or 

               

          		    (iv)       
               the filing against the Company of any petition in liquidation or any petition
               for relief under the provisions of applicable law for the relief of debtors, or
               the appointment of a special manager, temporary liquidator, temporary receiver
               or trustee to take possession of any material property or assets of the Company;
               or an attachment is placed on any of the material assets of the Company; or the
               Company resolves to voluntarily liquidate; or the appointment of a liquidator or
               receiver to take possession of material property or assets of the Company; or 

               

          		    (v)       
               any representation or statement made by the Company in any of the Transaction
               Documents or in any notice or other document, certificate or written statement
               delivered by it pursuant thereto or in connection therewith is, or proves to
               have been, incorrect or misleading in any material respect; or 

               

          		    (vi)       
               any event or series of events occur(s) which, in the reasonable opinion of
               Plenus, may have a material adverse effect on the business, condition (financial
               or otherwise), or results of operations of the Company or on the ability of the
               Company to comply with any of its material obligations under any of the
               Transaction Documents; or 

               

          		    (vii)       
               the Company consummates (a) an issuance of the Company’s securities or a
               consolidation or merger of the Company with or into another entity, pursuant to
               which or as a result thereof the Company’s then current shareholders will
               own less than fifty (50%) percent of the voting securities of the Company, the
               new entity or the surviving entity (as the case may be) or they will no longer
               have the power or the right to appoint more than fifty (50%) percent of the
               members of the board of directors of such entity; (b) an issuance or sale of
               shares of the Company constituting immediately thereafter more than fifty (50%)
               percent of the Company’s outstanding shares (on a fully diluted and
               as-converted basis) to third parties other than the Company’s current
               shareholders, (c) a sale of a material part of the Company’s assets; or (d)
               an equity investment, or series equity of investments, in the Company resulting
               in proceeds to the Company following the Effective Date in an aggregate amount
               of at least fifteen million dollars ($15,000,000). 

               

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        The
Company shall promptly inform Plenus of the occurrence of any Event of Acceleration and,
upon receipt of a written request to that effect from Plenus, shall confirm to Plenus
that, except as previously notified to Plenus or as notified in such confirmation, no
Event of Acceleration has occurred. 

         4.       
          Representations and Warranties. 

    4.1        The
Company hereby represents and warrants to each of the Lenders, as of the date hereof and
the Closing Date each of the following representations and warranties.  

         (i)       
          The Company is a company duly formed and validly existing under the laws of the
          State of Israel. The Company’s current Articles are attached hereto as
          Schedule 4(i). The Company has full corporate power and
          authority to enter into and perform its obligations under the Transaction
          Documents, and all of such documents constitute legally binding obligations of
          the Company and are enforceable against the Company in accordance with their
          respective terms, except as such enforceability may be limited by applicable
          bankruptcy, insolvency, reorganization, moratorium, liquidation,
          conservatorship, receivership or similar laws relating to, or affecting
          generally the enforcement of, creditor’s rights and remedies or by other
          equitable principles of general application. 

         (ii)       
          The Company has furnished Plenus with its audited, consolidated, financial
          statements as at, and for the year ended, December 31, 2005 (the
          “Financial Statements”). The Financial Statements are true and
          correct in all material respects, are in accordance with the books and records
          of the Company and have been prepared in accordance with generally accepted
          accounting principles consistently applied, and fairly and accurately present in
          all material respects the financial position of the Company as of such dates and
          the results of its operations for the periods then ended. Except as disclosed in
          documents filed by the Company with the Securities and Exchange Commission
          pursuant to the reporting requirements of the Securities Exchange Act of 1934,
          including material filed pursuant to Section 13(a) of the Exchange Act (all of
          the foregoing including filings incorporated by reference therein being referred
          to herein as the “Commission Documents”), the Financial
          Statements or listed in Schedule 4(ii), since December 31,
          2005, there has not been any material adverse change in the assets, liabilities,
          condition (financial or otherwise) or business of the Company, including,
          without limitation: 

		     (a)        any
damage, destruction or loss, whether or not covered by insurance, materially
          and adversely affecting the assets, properties, conditions (financial or
          otherwise), operating results or business of the Company;  

		     (b)        any
waiver by the Company of a valuable right or of a material debt owed to it;  

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		    (c)        any
satisfaction or discharge of any material lien, material claim or material
          encumbrance or payment of any material obligation by the Company, except in the
          ordinary course of business;  

		    (d)        any
material change or amendment to a material contract or material arrangement           by
which the Company or any of its assets or properties is bound or subject;  

		    (e)        any
loans made by the Company to its employees, officers, or directors other           than
travel advances made in the ordinary course of business;  

		    (f)        any
sale, transfer or lease of, except in the ordinary course of business, or
          mortgage or pledge or imposition of lien on, any of the Company’s material
          assets; or  

		    (g)        any
change in the accounting methods or accounting principles or practices           employed
by the Company.  

         (iii)       
          The execution and delivery of this Agreement (including all exhibits and
          schedules) by the Company, and performance of the Company’s obligations
          hereunder, have been duly and validly authorized by all necessary corporate
          action. 

         (iv)       
          The Company has taken all corporate actions, and has procured all consents and
          approvals, necessary for the issuance of the Warrant; and the Warrant, and the
          Warrant Shares when issued, and with respect to the Warrant Shares when the
          Exercise Price (as defined in the Warrant) is paid, shall be duly authorized,
          validly issued, fully paid and nonassessable. 

         (v)       
          Neither the execution nor the delivery of this Agreement, nor the transactions
          contemplated hereby, will contravene any agreement or negative pledge, or, to
          the Company’s best knowledge, any law, rule, restriction or decree to which
          the Company is subject, and will not result in any such violation or be in
          conflict with or constitute, with or without the passage of time and giving of
          notice, either a default under any such provision, instrument, judgment, order,
          writ, decree or contract or an event that results in the creation of any lien,
          charge or encumbrance upon any assets of the Company or, to the knowledge of the
          Company, the suspension, revocation, impairment, forfeiture, or non-renewal of
          any material permit, license, authorization, or approval applicable to the
          Company, its business or operations or any of its assets or properties. 

         (vi)       
          There is no order, writ, injunction or decree of any court, government or
          governmental agency affecting, or, to the best knowledge of Company, which may
          affect, the Company or any of its businesses, assets or interests, in a material
          adverse manner; nor is there any action, suit, proceeding or investigation
          pending or, to the Company’s knowledge, currently threatened, against the
          Company, that questions the validity of any of the Transaction Documents, or the
          right of the Company to execute and deliver any such document or to consummate
          the transactions contemplated thereby, or that might result, either individually
          or in the aggregate, in any material adverse changes in the assets, condition,
          affairs or prospects of the Company, financially or otherwise, nor is the
          Company aware that there is any basis for the foregoing. 

         (vii)       
          Other than as set forth in the Commission Documents and in Schedule
          4(vii) hereto and the Company’s Financial Statements, there
          are no material claims, guarantees, royalty payments, payments to government
          entities or regulatory bodies, security interests, options or other rights
          outstanding with respect to any of the Company’s assets or securities, and
          the Company has no outstanding loans or financial obligations to any third
          parties, including, but not limited to, any banking obligations, and any liens
          or fixed or floating charges on the Company’s bank accounts or other assets
          of the Company whether registered or not. 

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         (viii)       
          The Company, to the best of its knowledge, owns and has developed, or has
          obtained the right to use, free and clear of all liens (other than the liens
          created hereunder or by operation of law) and claims, all patents, trademarks,
          domain names and copyrights, and applications, licenses and rights with respect
          to the foregoing, and all trade secrets, including know-how, inventions,
          designs, processes, works of authorship, computer programs and technical data
          and information (collectively herein “Intellectual Property”)
          used and sufficient for use in the conduct of its business as now conducted, and
          as same may be in effect from time to time, and, to the best of the
          Company’s knowledge, without infringing upon or violating any right, lien,
          or claim of others, and the Company has taken security measures customary in the
          industry to protect the secrecy, confidentiality and value of all the
          Intellectual Property, except that the Company has not registered any patent,
          trademark or copyright with respect to its Intellectual Property. A complete
          list of all patents, trademarks and key domain names registered by the Company
          in any jurisdiction as of the date hereof is set forth in Schedule
          4(viii) attached hereto. 

         (ix)       
          The Company’s capitalization on a fully diluted basis, as of the Effective
          Date, is as set forth in Schedule 4(ix) attached hereto.
          All of the issued shares of the Company, of all classes are all duly and validly
          authorized and issued, fully paid and nonassessable, and were issued in
          accordance with every relevant securities laws, or pursuant to valid exemptions
          therefrom. Except as provided in the Commission Documents and in 
          Schedule 4(ix), there are no outstanding options, warrants,
          rights (including conversion or pre-emptive rights with respect to the Warrant
          Shares) or agreements for the purchase or acquisition from the Company of any
          shares of its share capital. Except as set forth in the Commission Documents
          and in Schedule 4(ix), the Company is not a party or
          subject to any agreement or understanding which affects or relates to the voting
          rights or which requires written consents with respect to (1) any of the
          Company’s securities (excluding options granted under the employee stock
          option plan of the Company, if any), or (2) a director of the Company. 

         (x)       
          To the best of the Company’s knowledge, there are no investigations or
          actions or administrative proceedings of or before any court or agency which (a)
          could have a material adverse effect on the business, financial condition or
          results of operations of the Company or the ability of the Company to perform
          its obligations hereunder, or (b) purports to affect the legality, validity or
          enforceability of any of the Transaction Documents. 

         (xi)       
          Neither this Agreement (including any schedule or exhibit to this Agreement) nor
          any documents, certificates or other items supplied by the Company with respect
          to the transactions contemplated hereby, contain any untrue statement of a
          material fact or omit to state a material fact necessary to make the statements
          herein or therein, in light of the circumstances in which they were made, not
          misleading. 

         (xii)       
          Other than the subsidiaries listed on Schedule 4(xii), the
          Company has no subsidiaries (“Subsidiaries”). For the purposes
          of this section 4, reference to the Company other than in this clause (xii),
          shall mean both the Company and all of its Subsidiaries. 

- 8 -

         (xiii)       
          No consent, approval, order or authorization of, or registration, qualification,
          designation, declaration or filing with, any governmental authority on the part
          of the Company is required in connection with the consummation of the
          transactions contemplated by the Transaction Documents, except for the
          registration of the charges under the Floating Charge Agreement and the Fixed
          Charge Agreement and compliance with the applicable securities laws and the
          consent of the Office of the Chief Scientist of the Israeli Ministry of
          Industry, Trade and Employment. 

    (xiv)       Each
Material Agreement (as defined below) is in full force and effect, none is subject to
recession and to the best knowledge of the Company, there are no existing circumstances
which would reasonably be expected to materially modify the terms of any Material
Agreement. To the Company’s best knowledge, no third party is in default under any
Material Agreement. The Material Agreements which are not referred to in the Commission
Documentsare set forth in Schedule 4(xiv) attached hereto.
Plenus or its counsel has received true and correct copies of each Material Agreement.
The Company is not in breach of any obligation under any Material Agreement.  

        For
the purposes of this Agreement, the term “Material Agreement” shall mean
any agreements, understandings, instruments, contracts, proposed transactions, judgments,
orders, writs or decrees to which the Company is a party or by which it is bound that may
involve (i) obligations (contingent or otherwise) of, or payments to the Company,
exceeding $100,000 each, or (ii) intellectual property rights of the Company and/or
the intellectual property rights of any third party (other than the license of the
Company’s software and products, or those of Company’s suppliers, in the
ordinary course of its business which do not fall within any other category herein), or
(iii) distribution rights, or (iv) provisions restricting the development, manufacture or
distribution of the Company’s products or services, or (v) restrictions or
limitations on the Company’s right to do business or compete in any area or any field
with any person, firm or company, or (vi) indemnification by the Company with respect
to infringements of proprietary rights (other than those entered into in the
Company’s ordinary course of business and which do not fall within any other category
herein). Notwithstanding the foregoing, “Material Agreement” shall not include
non-disclosure agreements executed in the Company’s ordinary course of business. 

    4.2        Plenus
hereby represents and warrants to the Company that it is an “accredited investor” as
defined in Rule 501 under the Securities Act.  

    5.        Reporting
and Notice Rights.  

    5.1        Reporting
and Notices. Until the termination of this Agreement, the Company shall provide
Plenus with the following: (i) consolidated, un-audited, quarterly financial
statements within sixty (60) days after the end of each quarter, (ii) such other data and
information as Plenus may reasonably request, provided such data is reasonably available,
(iii) at least five (5) business days advanced written notice of any equity investment in
the Company occurring after the date hereof, (iv) at least five (5) business days
advanced written notice of a merger or consolidation of the Company, a sale of any
substantial portion of the assets or shares of the Company or any reorganization or
restructuring of the Company having similar effects, or a distribution of dividends, and
(v) at least five (5) business days advanced written notice of a firmly underwritten
initial public offering of the Company’s shares pursuant to a registration statement
filed with the Securities and Exchange Commission under the Securities Act of 1933 or
pursuant to a registration statement filed with a similar law under any other
jurisdiction.  

- 9 -

Furthermore, the Lender shall have,
subject to customary non-disclosure obligations, at reasonable times and upon reasonable
notice, full access to all books and records of the Company and shall be entitled to
inspect the properties of the Company and consult with management of the Company regarding
the same, to the extent necessary or advisable for the purpose of monitoring observance by
the Company of its obligations under the Transaction Documents. 

Following the termination of this
Agreement, and for as long as the Warrant is outstanding, the Lender shall have the same
reporting and information rights, as granted to the holders of shares of the Company of
any class. 

     5.2        [Reserved]  

      5.3        Information.
The Company acknowledges that the Lender will likely have, from time to time, information
that may be of interest to the Company (“Information”) regarding a wide
variety of matters. The Company, as a material part of the consideration for this
Agreement, agrees that the Lender shall have no duty to disclose any Information to the
Company or permit the Company to participate in any projects or investments based on any
Information, or to otherwise take advantage of any opportunity that may be of interest to
the Company if it were aware of such Information, and hereby waives, to the extent
permitted by law, any claim based on the corporate opportunity doctrine or otherwise that
could limit the Lender’s ability to pursue opportunities based on such Information
or that would require the Lender to disclose any such Information to the Company or and
offer any opportunity relating thereto to the Company.  

    5.4        Confidentiality.  

         (a)       
          Lender acknowledges that the data and the information obtained by it from the
          Company or anyone on its behalf prior to or during the term of this Agreement
          which relate to the Company, including, without limitation the existence and
          terms of the Transaction Documents, are confidential, and agrees that such data
          and information will not be disclosed by it to any third party nor exploited for
          other projects, investments or the like, without the prior written consent of
          the Company; provided, however, that in connection with reports to
          their shareholders, investors and/or co-lenders, the Lender may, without first
          obtaining such written consent, make general statements regarding the nature and
          progress of the Company’s business and provide non-confidential data and
          information, provided that such shareholders, investors and/or co-lenders shall
          maintain such information in confidence. Furthermore, the Lender may disclose
          any data and information to their directors, officers and employees on a need to
          know basis, provided that such directors, officers and employees shall undertake
          the same obligations as the Lender undertakes hereunder with respect to such
          data and information or that the Lender shall be responsible for any disclosure
          or use thereby without the Company’s consent. 

         (b)       
          Except as required under applicable law or the NASDAQ rules, neither party shall
          be entitled to issue a press release or any public statement relating to the
          existence or terms of the Transaction Documents without obtaining the prior
          written consent of the other party. The foregoing shall similarly apply to any
          other form of public communication, including but not limited to, announcements,
          conferences, advertisements, professional or trade publications, mass marketing
          materials etc. 

- 10 -

         6.       
          Authority. 

        Notwithstanding
any of the provisions set forth herein, the Company acknowledges and agrees that Plenus
reserves the right to add an additional Plenus entity as a lender – and an additional
participant to the participants specified in Schedule 1 (the
“Participants”) and that Plenus shall act as the lead manager of
such syndication on behalf of the lenders and on behalf of the Participants. Plenus hereby
represents and warrants to the Company that (a) the Participants have agreed that Plenus
at its sole discretion shall determine (i) whether or not to realize any charges and/or
pledges over the assets of the Company created for the benefit of the Lender or the
Participants; (ii) whether or not repayment of any amounts hereunder owed to the Lender or
the Participants are to be accelerated and whether or not an event of a default pursuant
to the Floating Charge Agreement or the Fixed Charge Agreement has occurred, (iii) any
other decisions that needs to be made with respect to any issue relating to the
Transaction Documents, (b) Plenus has been appointed the attorney-in-fact on behalf of the
Participants in connection with all of the foregoing, (c) the Participants have agreed not
to take any action to the contrary, and (d) the Participants have agreed that in the event
that Plenus should give its consent under this Agreement, Plenus’ consent shall bind
them as well. 

         7.       
          Holding the Warrant and the Warrant Shares. 

        Plenus
shall be entitled to receive, upon the exercise of any portion of the Warrants by Plenus,
the Warrant Shares issuable upon such exercise, and Plenus shall be entitled to transfer
all or any part of the Warrants or the Warrant Shares so issued to a Participant or
Permitted Transferees (as defined in Section 9.4 hereof), provided that such
transferees are not direct competitors of the Company, and provided further
that Plenus shall have an irrevocable proxy from all of such transferees with respect to
all of the Warrant Shares held by them. 

         8.       
          Covenant. 

        The
Company shall comply with the terms of, and do all that is reasonably necessary to
maintain in full force and effect all authorizations, approvals, licenses and consents
required by or under the laws and regulations of the State of Israel and any other
applicable jurisdiction to enable it lawfully to enter into and perform its obligations
under the Transaction Documents, and to ensure the legality, validity, enforceability or
admissibility in evidence of all such documents. 

         9.       
          Miscellaneous. 

    9.1        Further
Action. The Company shall perform such further acts and execute such further
documents as, in Plenus’s opinion, may be reasonably necessary to carry out and give
full effect to the provisions of this Agreement and the intentions of the parties as
reflected hereby.  

    9.2        Governing
Law. This Agreement shall be governed by, and construed according to, the laws of the
State of Israel, without regard to the conflict of laws provisions thereof.  

    9.3        Successors
and Assigns. Except as otherwise expressly limited herein, the provisions hereof
shall inure to the benefit of, and be binding upon, the successors, assigns, heirs,
executors, and administrators of the parties hereto.  

- 11 - 

    9.4        Non-assignability.
None of the rights or obligations set forth in, arising under, or created by this
Agreement may be assigned or transferred by the Company or Lender without the prior
consent in writing of the other party, which consent shall not be unreasonably withheld.
Anything herein to the contrary notwithstanding, subject to applicable law and the second
proviso to Section 7 above, Lender shall have the right to assign or transfer its rights
and obligations under this Agreement, as long as such assignment or transfer is not to a
competitor of the Company, to any of the following (each a “Permitted Transferee”):
(i) any other entity which controls, is controlled by, or is under common control with
Lender, (ii) if the Lender is a trustee or is appointed to act on behalf of others – to
its beneficiaries, or (iii) if the Lender is a general or limited partnership – to
its partners and to affiliated partnerships managed by the same management company or
managing general partner or to an entity which controls, is controlled by, or is under
common control with, such management company or managing general partner. The foregoing
in clauses (i)-(iii) above is subject to the assignee or transferee assuming in writing
the obligations of the assignor or transferor under this Agreement. The limited right of
Lender to assign and transfer pursuant to this Section 9.4 shall also apply, mutatis
mutandis, to each Permitted Transferee. Anything herein to the contrary
notwithstanding, subject to applicable law, the Company shall have the right to assign or
transfer its rights and obligations under this Agreement in the circumstances set forth
in Section 13.2 of the Floating Charge Agreement.  

    9.5        Entire
Agreement. The Transaction Documents constitute the full and entire understanding and
agreement between the Company and the Lender with regard to the subject matters hereof
and thereof. The preamble, exhibits and schedules hereto constitute an integral part
hereof.  

    9.6        Fees
and Taxes. The Company shall share in and contribute a total amount of fifteen
thousand dollars ($15,000), plus VAT, towards the legal fees and other expenses incurred
by Plenus in connection with the transactions contemplated under the Transaction
Documents, as follows: five thousand dollars ($5,000), plus VAT, will be paid by the
Company 10 business days after signing the Loan agreement against an invoice issued in
the name of the Company and ten thousand dollars ($10,000), plus VAT, will be paid by the
Company 10 business days after the First Closing Date against an invoice issued in the
name of the Company. The Company shall also be responsible for all taxes and other
compulsory payments to which the Lender is or shall be subject under the transactions
contemplated by the Transaction Documents (other than taxes on the income of the Lender
imposed in the jurisdiction in which its principal or lending office under this Agreement
is located). Without derogating from the foregoing, the Company will pay the stamp tax,
if applicable, to the Transaction Documents and any document in connection therewith,
including, without limitation, the Warrant Shares.  

    9.7        Amendments
and Waivers. Any term of this Agreement may be amended and the observance of any term
hereof may be waived (either prospectively or retroactively and either generally or in a
particular instance) only with the written consent of the Company and Plenus. No delay or
omission to exercise any right, power, or remedy accruing to any party upon any breach or
default under this Agreement, shall be deemed a waiver of any other breach or default
theretofore or thereafter occurring. All remedies, under this Agreement, by law or
otherwise, afforded to any of the parties, shall be cumulative and not alternative.  

- 12 -

    9.8        Survival.
All covenants made in this Agreement shall continue to remain in full force and effect
for as long as this Agreement is still in effect pursuant to its terms. The Company’s
representations and warranties shall survive the expiration or termination, for any
reason, of this Agreement.  

    9.9        Notices.
All notices and other communications required or permitted hereunder to be given to a
party to this Agreement shall be in writing and shall be telecopied (faxed) or mailed by
registered or certified mail, postage prepaid, or by electronic mail, or otherwise
delivered by hand or by messenger as follows:  

        if
to the Company - to the Company's address set forth above, to the attention of
Chief Executive Officer and Chief Financial Officer;  

        if
to the Lender or Participants - to Plenus's address, to the attention of the persons
set forth in Exhibit 9.9;  

        or
to such other address, or to the attention of such other person, with respect to a party
as such party shall notify the other parties in writing as above provided. Any notice sent
in accordance with this Section 9.9 shall be effective (i) if mailed, three (3) business
days after mailing, (ii) if sent by messenger, upon delivery, and (iii) if sent via
telecopier (fax) or electronic mail, upon transmission and electronic confirmation of
receipt or – if transmitted and received on a non-business day – on the first
business day following transmission and electronic confirmation of receipt. 

    9.10        Partial
Invalidity. If any provision of this Agreement is held by a court of competent
jurisdiction to be invalid or unenforceable under applicable law, then such provision
shall be excluded from this Agreement and the remainder of this Agreement shall be
interpreted as if such provision were so excluded and shall be enforceable in accordance
with its terms; provided, however, that in such event this Agreement shall
be interpreted so as to give effect, to the greatest extent consistent with and permitted
by applicable law, to the meaning and intention of the excluded provision as determined
by such court of competent jurisdiction.  

    9.11        Currency.
The term “dollars” appearing in this Agreement shall mean the legal currency of
the United States of America, and all payments hereunder shall be made in such currency,
unless otherwise agreed in writing by Plenus and the Company.  

    9.12        Counterparts.
This Agreement may be executed (including via facsimile) in multiple counterparts, each
of which shall be deemed an original but all of which shall constitute but one
instrument.  

[signature page follows] 

- 13 -

IN WITNESS WHEREOF the parties have
signed this Loan Agreement in one or more counterparts as of the date first appearing
above. 

	ATTUNITY LTD.

By: /s/ Dror Elkayam
——————————————

Its:     VP Finance

	PLENUS TECHNOLOGIES, LTD.

By: /s/ Moti Weiss 
—————————————
Its:     Managing Partner  	 

/s/ Shlomo Karako
—————————————
CFO

	PLENUS II, LP

By: /s/ Moti Weiss 
—————————————
Its:     Managing Partner  	 

/s/ Shlomo Karako
—————————————
CFO

	PLENUS II (DCM), LP

By: /s/ Moti Weiss 
—————————————
Its:     Managing Partner  	 

/s/ Shlomo Karako
—————————————
CFO

- 14 -

Exhibit 1.2 

The Milestone will be deemed
satisfied upon the occurrence of either of the following: 

	 	(i) 	receipt
by Plenus of an Auditors’ Certificate by no later than           August 30,
2007 stating that the Company has achieved revenues (in accordance           with US
GAAP) of at least $1,500,000 (One Million Five Hundred Dollars) from the           sale
and/or licenses of the “Infocus” product during the period           commencing
January 1, 2007 and ending on June 30, 2007 or, in the event the           Company fails
to achieve the revenue milestone described in this sub-section           (i), 

	 	(ii) 	(ii)
the receipt by Plenus of an Auditors’ Certificate by no later than
          November 30, 2007, stating that the Company has achieved revenues (in
accordance           with US GAAP) of at least $2,750,000 (Two Million Seven Hundred
Fifty Thousand           Dollars) from the sale and/or licenses of the “Infocus” product
during           the period commencing January 1, 2007 and ending on September 30, 2007. 

- 15 -

Exhibit 1.9 

Warrant issued on June 3, 2004 –
exercisable into 250,909 ordinary shares @$1.25 

Warrant issued on March 27, 2006
– exercisable into 192,000 ordinary shares @$1.25 

- 16 -

Exhibit 9.9  

THE LENDER 

Name and Address 

			
	Plenus Technologies Ltd.	 	 
	Plenus II, LP
	Plenus II (DCM), LP
	 	with a copy to:	Steve Kronengold, Esq.
	16 Abba Eban Avenue	 	Rabin Science Park; Hamada 12
	Herzliya Pituach	 	Rehovot
	Israel	 	Israel
	Attn: Shlomo Karako	 	 
	Facsimile: (972-9) 957-8770	 	(972-8) 936-6000

THE PARTICIPANTS 

	1.  	Mizrachi
          Tefahot Bank Ltd. 

	2. 	         Union
Bank of Israel Ltd. 

	3. 	           Industrial
Development Bank of Israel Ltd. 

	4. 	        D.
Partners (BVI), L.P 

	5. 	          CMA
Technology Venture Partner Limited 

	6. 	           D.
Partners (Israel), Limited Partnership 

	7. 	         Israel
Continental Bank Ltd. 

	8. 	          Nessuah
Zannex Ltd. 

	9. 	          Mercantile
Discount Bank Ltd. 

	10.  	Benleumi
Provident Funds 

	11. 	           Bank
Leumi Le-Israel B.M. 

	12. 	          Kahal
Ltd. 

 *  Includes the aggregate
participation amount of the Participants. 

- 17 -

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