LEHMAN BROTHERS
XXXXXX BROTHERS
December 5, 2007
Ormat Technologies, Inc.
0000 Xxxx Xxxx, Xxxxx 000
Reno, Nevada 89511
Ladies and Gentlemen:
Pursuant to the Amended and Restated Underwriting Agreement dated as of October 23, 2007 (the “Underwriting Agreement”) between Ormat Technologies, Inc. (the “Company”) and Xxxxxx Brothers Inc. (“Underwriter”), for the limited purpose described in the second paragraph of this letter, Xxxxxx Brothers Inc. hereby releases you from your lock-up letter agreement delivered pursuant to the Underwriting Agreement.
The foregoing release is effective solely with respect to the offer, issuance and sale of up to 693,750 shares of the Company’s common stock (the “Shares”) to Ormat Industries Ltd. Your agreement pursuant to the aforesaid letter agreement shall, except as aforesaid, remain in full force and effect in accordance with its terms.
The undersigned, Ormat Industries Ltd. (“Transferee”), as transferee of the Shares hereby agrees to be bound by the terms of the lock-up letter agreement signed by the transferor to the same extent as if Transferee were a party thereto with respect to the Shares, and accordingly Xxxxxx Brothers Inc. consents to such sale of the Shares to Transferee.
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Very truly yours, | ||
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XXXXXX BROTHERS INC. | ||
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/s/ Illegible |
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Name: |
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ACCEPTED AND AGREED: |
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Name: Xxxx Xxxxxx |
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000 0xx Xxxxxx
New York, NY 10019
