Document:

exhibit_4-13.htm

Exhibit 4.13

 

Amendment No. 4 Dated as of December, 2011

(the  “4th Amendment”)

to that Certain Convertible Loan Agreement Entered into as of April 4, 2006, 

as amended on July 26, 2006, June 23, 2010 and December 13, 2010

This 4th Amendment is entered into by and among Fortissimo Capital Fund GP, L.P., on behalf of the several parallel partnerships in which it serves as the General Partner (the “Lead Lender”), whose principal offices are located at 14 Hamelacha Street, Park Afek, Rosh Haayin 48091, Israel, Shem Basum Ltd., an Israeli company, having its address at 8 Hanna Senesh St., Kfar Saba, Israel (“Beilis”); Mr. Yehuda Zisapel, an individual having his address at 24 Raoul Wallenberg Street, Tel Aviv 69719, Israel (“Zisapel”); Michael Chill, an individual having his address at 210 West 89th Street Apt. 4-N, New York, NY 10024, U.S.A. (“Chill” and together with Zisapel, Beilis, and the Lead Lender, the “Lenders”), and Radview Software Ltd., an Israeli corporation, corporate registration number 511627952, with its principal offices in Israel located at 2 Habarzel Street, Tel Aviv 69710, Israel (the “Borrower” or the “Company” and together with the Lenders, the “Parties”).

Recitals

Whereas, on April 4, 2006, the Lenders and the Borrower entered into that certain Convertible Loan Agreement (the “Convertible Loan Agreement”), pursuant to which the Lenders have agreed to advance to the Company a convertible loan in the aggregate amount of up to US$750,000 (the “Convertible Loan”), all as set forth in the Convertible Loan Agreement;

Whereas, on July 26, 2006, the Lead Lender, Beilis, Chill and the Borrower executed an Amendment and Addendum to the Convertible Loan Agreement (the Convertible Loan Agreement, as amended, the “CLA”);

Whereas, pursuant to the CLA, the Convertible Loan was due and payable thirty (30) days after the third anniversary of the Remaining Portion Loan Date, as defined therein (the “Maturity Date”);

Whereas, previously, the Company and the Lenders agreed to amend the CLA, such that, among other things, the repayment date of the Convertible Loan (principle and interest) was extended to August 31, 2012;

Whereas, the Parties wish to further extend the repayment date of the Convertible Loan to August 31, 2013, and on November 3, 2011, the Company's Audit Committee and Board of Directors resolved, subject to the Company's shareholders approval, to approve such extension;

Now, Therefore, in consideration of the mutual agreements, provisions and covenants contained herein, the Parties hereto agree as follows:

	
1.

	
Interpretation

The preamble to this 4th Amendment shall be deemed an integral part hereof. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the CLA. The meaning of capitalized terms which are defined herein shall apply to such terms when used in the CLA.

 

  

  

  

 

	
2.

	
Amendment of the CLA

The Lenders and the Borrower hereby agree to amend the CLA, as follows:

 

	 	
2.1

	
Amendment of Section 1.2 of the CLA

	 	
(i)

	
The reference to “August 31, 2012” in Section 1.2(a) of the CLA, as amended shall be replaced with the following text:

“August 31, 2013”.

	 	
(ii)

	
The reference to “August 31, 2012” in the first sentence of Section 1.2(b) of the CLA, as amended, shall be replaced with the following text:

“August 31, 2013”.

	
3.

	
Validity and Scope of this 4th Amendment

This 4th Amendment shall come into effect upon and subject to approval by the Company's shareholders. Except as set forth herein, all provisions of the CLA, as amended, shall remain in full force and effect in accordance with their terms.

 

 [Remainder of Page Intentionally Left Blank – Signature Page to Follow]

 

  

  

  

 

Signature Page of Amendment to Convertible Loan Agreement

In Witness Whereof, Borrower and Lenders have executed this 4th Amendment as of the date set forth in the preamble.

	
Borrower

	  	
Lead Lender

	  	  	  
	
Radview Software Ltd.

	  	
Fortissimo Capital Fund GP, L.P.

By: Fortissimo Capital (GP) Management Ltd., its General Partner

	  	  	  
	
Name:

	
 Jaron Lotan

	  	  	
Name:

	  	  
	
Title:

	
Chairman of the Board

	  	  	
Title:

	  	  
	  	  	  	  
	
Name:

	
Guy Yasur

	  	  
	
Title:

	
Chief Financial Officer

	  	  

 

	
Shem Basum Ltd.

	 
	  	 
	
Name:

	 
	
Title:

	 
	  	 
	  	 
	
Yehuda Zisapel

	 
	  	 
	  	 
	
Michael ChillEX-10.10

 Exhibit 10.10 

 
 PROMISSORY NOTE 

 

			
	$14,094,360.00	 	Warren, Michigan
	 	 	April 23, 2012

  
 FOR VALUE RECEIVED, the
undersigned (hereinafter referred to as “Maker”), promises to pay to the order of Matthew T. Moroun, a shareholder of the Company (hereinafter referred to as “Payee”), or at such other place as Payee may from time to time
designate in writing, the principal sum of fourteen million, ninety-four thousand, three hundred sixty and No/100 Dollars ($14,094,360.00), with interest thereon from date until maturity or default at the rate of 1.64% per annum and thereafter
until paid at the maximum rate allowable under Michigan law, said principal and interest to be payable 10 days after Maker receives Final Determination pursuant to Section 2.2 of the S Corporation Revocation, Tax Allocation and Indemnification
Agreement between Maker and Payee (“Sub S Agreement”). In the event the Maker’s S corporation status is not revoked pursuant to the Sub S Agreement on or before August 31, 2012, this note shall be void. All capitalized terms
shall have the meaning as described in the Sub S Agreement. 
  
 Failure for fifteen (15) days of Maker to pay this Note when due shall give the Payees of this Note the option of declaring the entire unpaid balance of principal and interest immediately due and
payable, and the same shall thereafter bear interest at the maximum rate allowable under Michigan law until paid. 
  

Except as hereinbefore expressly provided, presentment for payment, demand, protest and notice of demand, notice of dishonor and notice of
nonpayment and all other notices are hereby waived by Maker. No failure to accelerate the debt evidenced hereby by reason of default hereunder, acceptance of a past due installment, promissory note or indulgences granted from time to time shall be
construed (i) as a novation of this Note, or as a restatement of the indebtedness evidenced hereby, or as a waiver of such right of acceleration, or of the right of Holder thereafter to insist upon strict compliance with the terms of this Note;
or, (ii) to prevent the exercise of such right of acceleration or any other right granted hereunder or by the laws of the United States and/or the State of Michigan; and Maker hereby expressly waives the benefit of any statute or rule of law or
of equity now provided, or which may hereafter be provided, which would produce a result contradictory to or in conflict with the foregoing. No extension of the time for payment of this Note shall operate to release, discharge, modify, change or
affect the original liability of Maker under this Note, either in whole or in part, unless Holder agrees otherwise in writing signed by the party against whom enforcement of any waiver, change, modification or discharge is sought. 

 
 The principal due under this Promissory Note is subject to
adjustment pursuant to Section 2.2 of the Sub S Agreement. 

 This Note is intended as a contract under and shall be construed and enforceable in
accordance with the laws of the State of Michigan and the applicable laws of the United States of America. 
  

If this obligation, after default, is placed in the hands of an attorney for collection, Maker and all other persons now or hereafter
liable hereon will be obligated to pay the Holder hereof an additional sum as a reasonable attorney’s fee, not to exceed 10% of the unpaid principal plus all accrued interest. 

 
 As used herein, the terms “Maker,”
“Payee” and “Holder” shall be deemed to include his, her, or their respective successors and assigns, whether by voluntary action of the parties or by operation of law. 
  
 IN WITNESS WHEREOF, Maker has executed this Note on the date first above mentioned. 

 

							
	 	 	 	 	MAKER:
			
	 	 	 	 	LINC LOGISTIC COMPANY
				
	 	 	 	 	 By
	 	/S/ DAVID A. CRITTENDEN
	 	 	 	 	 	 	 David A. Crittenden, CFOEX-10.11

 Exhibit 10.11 

 
 PROMISSORY NOTE 

 

			
	 $13,905,640.00
	 	Warren, Michigan
	 	 	April 23, 2012

  
 FOR VALUE RECEIVED, the
undersigned (hereinafter referred to as “Maker”), promises to pay to the order of Manuel J. Moroun Revocable Trust U/A 3/27/77, a shareholder of the Company (hereinafter referred to as “Payee”), or at such other place as Payee
may from time to time designate in writing, the principal sum of thirteen million, nine hundred five thousand, six hundred forty and No/100 Dollars ($13,905,640.00), with interest thereon from date until maturity or default at the rate of
1.64% per annum and thereafter until paid at the maximum rate allowable under Michigan law, said principal and interest to be payable 10 days after Maker receives Final Determination pursuant to Section 2.2 of the S Corporation Revocation,
Tax Allocation and Indemnification Agreement between Maker and Payee (“Sub S Agreement”). In the event the Maker’s S corporation status is not revoked pursuant to the Sub S Agreement on or before August 31, 2012, this note shall
be void. All capitalized terms shall have the meaning as described in the Sub S Agreement. 
  
 Failure for fifteen (15) days of Maker to pay this Note when due shall give the Payees of this Note the option of declaring the entire unpaid balance of principal and interest immediately due and
payable, and the same shall thereafter bear interest at the maximum rate allowable under Michigan law until paid. 
  

Except as hereinbefore expressly provided, presentment for payment, demand, protest and notice of demand, notice of dishonor and notice of
nonpayment and all other notices are hereby waived by Maker. No failure to accelerate the debt evidenced hereby by reason of default hereunder, acceptance of a past due installment, promissory note or indulgences granted from time to time shall be
construed (i) as a novation of this Note, or as a restatement of the indebtedness evidenced hereby, or as a waiver of such right of acceleration, or of the right of Holder thereafter to insist upon strict compliance with the terms of this Note;
or, (ii) to prevent the exercise of such right of acceleration or any other right granted hereunder or by the laws of the United States and/or the State of Michigan; and Maker hereby expressly waives the benefit of any statute or rule of law or
of equity now provided, or which may hereafter be provided, which would produce a result contradictory to or in conflict with the foregoing. No extension of the time for payment of this Note shall operate to release, discharge, modify, change or
affect the original liability of Maker under this Note, either in whole or in part, unless Holder agrees otherwise in writing signed by the party against whom enforcement of any waiver, change, modification or discharge is sought. 

 
 The principal due under this Promissory Note is subject to
adjustment pursuant to Section 2.2 of the Sub S Agreement. 

 This Note is intended as a contract under and shall be construed and enforceable in
accordance with the laws of the State of Michigan and the applicable laws of the United States of America. 
  

If this obligation, after default, is placed in the hands of an attorney for collection, Maker and all other persons now or hereafter
liable hereon will be obligated to pay the Holder hereof an additional sum as a reasonable attorney’s fee, not to exceed 10% of the unpaid principal plus all accrued interest. 

 
 As used herein, the terms “Maker,”
“Payee” and “Holder” shall be deemed to include his, her, or their respective successors and assigns, whether by voluntary action of the parties or by operation of law. 
  
 IN WITNESS WHEREOF, Maker has executed this Note on the date first above mentioned. 

 

							
	 	 	 	 	 MAKER:
  

LINC LOGISTIC COMPANY

				
	 	 	 	 	 By
	 	/S/ DAVID A. CRITTENDEN
	 	 	 	 	 	 	 David A. Crittenden, CFO

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