Exhibit 4(b)23
THIS WARRANT AND ANY SECURITIES THAT
MAY BE ISSUED UPON EXERCISE THEREOF) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”) OR THE SECURITIES LAWS OF ANY
STATE OR OTHER JURISDICTION. THE SECURITIES MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE
TRANSFERRED EXCEPT (1) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
OR (2) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH
CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES AND OTHER
JURISDICTIONS, AND IN THE CASE OF A TRANSACTION EXEMPT FROM REGISTRATION (OTHER THAN
PURSUANT TO RULE 144, PROVIDED THAT THE COMPANY HAS RECEIVED CUSTOMARY REPRESENTATIONS
CERTIFYING AS TO THE AVAILABILITY OF SUCH RULE 144), UNLESS THE COMPANY HAS RECEIVED AN
OPINION OF COUNSEL REASONABLY SATISFACTORY TO IT THAT SUCH TRANSACTION DOES NOT REQUIRE
REGISTRATION UNDER THE SECURITIES ACT AND SUCH OTHER APPLICABLE LAWS.
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| Warrant no. 6 |
Number of Shares: 2,500,000 |
| June 30, 2009 |
(subject to adjustment) |
AMENDED AND RESTATED
WARRANT TO PURCHASE ORDINARY SHARES
OF
LUMENIS LTD.
For
VALUE RECEIVED Bank Hapoalim B.M. (together with its successors, transferees and assigns,
the “Holder”) is entitled to purchase subject to the provisions of this Amended
and Restated Warrant (this “Warrant”) from Lumenis Ltd., an Israeli
company (“Company”), during the term of this Warrant, at a purchase price
per share equal to $ 1.40 (as adjusted from time to time pursuant to the terms of this
Warrant), 2,500,000 (two million five hundred thousand) Ordinary Shares, par value NIS 0.1
per share, of the Company (the “Company Shares”) (as adjusted from time
to time pursuant to the terms of this Warrant). The shares purchasable upon exercise of
this Warrant and the purchase price per share, as adjusted from time to time pursuant to
the terms of this Warrant, shall be referred to herein as the “Warrant
Shares” and the “Exercise Price”, respectively.
| |
1.1. |
Manner
of Exercise. This Warrant may be exercised, in whole or in part, on one or
more occasions during its term. The Warrant may be exercised by the surrender
of this Warrant, together with the Notice of Exercise in the form attached
hereto, duly completed and executed by the Holder, at the principal office of
the Company or at such other office or agency as the Company may designate,
accompanied by payment in full of the aggregate Exercise Price payable in
respect of the Warrant Shares purchasable upon such exercise. The Exercise
Price may be paid by cash, check, wire transfer or by the cancellation of debt
owed by the Company to the Holder. |
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1.2. |
Effective
Time of Exercise. Each exercise of this Warrant shall be deemed to have
been effected immediately prior to the close of business on the day on which
this Warrant shall have been surrendered to the Company as provided in Section
1.1 above. At such time, the person(s) in whose name(s) any certificates
representing the Warrant Shares shall be issuable upon exercise as provided in
Section 1.4 below shall be deemed to have become the holder of record of such
Warrant Shares represented by such certificates. |
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1.3.1. |
In
lieu of exercising this Warrant in the manner provided in Section 1.1 above,
the Holder may elect to receive shares equal to the value of this Warrant (or
the portion thereof being canceled) by surrender of this Warrant at the
principal office of the Company or at such other office or agency as the
Company may designate, together with the Notice of Exercise in the form
attached hereto, duly completed and executed by the Holder, in which event the
Company shall issue to the Holder the number of Warrant Shares computed using
the following formula: |
X = Y * (A - B)
A
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Where: |
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X = |
the number of Warrant Shares to be issued to the Holder. |
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Y = |
the
number of Warrant Shares, as adjusted to the date of such
calculation, underlying the portion of the Warrant being
exercised. |
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A = |
the
Fair Market Value (as defined below) of one Warrant Share. |
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B = |
the
Exercise Price, as adjusted to the date of such
calculation. |
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1.3.2. |
For
purposes of this Warrant the “Fair Market Value” of a
Warrant Share on the date of calculation shall mean: |
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1.3.2.1. |
If
the Company Shares are listed on a national securities exchange or are quoted
on the National Association of Securities Dealers, Inc. Automated
Quotation/National Market System (NASDAQ/NMS), then the Fair Market
Value shall be the average closing or last sale price, respectively,
reported for the five (5) trading days prior to the exercise date. |
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1.3.2.2. |
If
the Company Shares are not listed on a national securities exchange or quoted
on NASDAQ/NMS, but are traded in any over-the-counter market, then
the Fair Market Value shall be the last sale price of the Company
Shares reported for the five (5) trading days immediately preceding
the exercise date, and if no such sale price is reported, the average
of the closing bid and asked prices as reported for the five (5)
trading days prior to the exercise date. If the Company Shares are
not publicly traded, then the Fair Market Value shall be the fair
market value of a Company Share as determined by the Board of Directors in
good faith, unless the Company is at such time subject to a Liquidity
Event (as defined below), in which case the Fair Market Value shall
be deemed to be the value of the consideration per share received by
the holders of such shares pursuant to such event. In the event that
the Holder objects to the determination of the Board of Directors of
the Company, within 15 days after receipt of such determination, the
matter shall be referred to arbitration to be conducted in accordance
with Section 19 hereof. |
- 2 -
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1.3.2.3. |
If
the exercise is in connection with a public offering of the Company Shares
pursuant to an effective registration statement under the Securities
Act of 1933, as amended (the “Securities Act”), or
the equivalent actions under the laws of another jurisdiction, then
the fair market value shall be the initial “Price to Public” per
share specified in the final prospectus with respect to the offering,
before deduction of discounts, commissions or expenses. |
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1.4. |
Delivery
to Holder. As soon as practicable after the exercise of this
Warrant in whole or in part, and in any event within ten (10) days
thereafter, the Company at its expense will cause to be issued in the
name of, and delivered to, the Holder, or as such Holder may direct: |
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1.4.1. |
a
certificate(s) for the number of Warrant Shares to which such Holder shall be
entitled, and |
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1.4.2. |
in
case such exercise is in part only, a new warrant(s) (dated the date hereof)
of like tenor, calling in the aggregate on the face(s) thereof for
the number of Warrant Shares equal to the number of such shares
called for on the face of this Warrant minus the number of
such shares purchased by the Holder upon such exercise as provided in
Sections 1.1 or 1.3 above. |
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1.5. |
Conditional
Exercise. In case of an exercise made in connection with a public
offering of the Company Shares pursuant to an effective registration
statement under the Securities Act or the equivalent actions under
the laws of another jurisdiction, or a Liquidity Event (as defined
below), such exercise may be made conditional upon the closing of
such offering or event. |
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For
purposes of this Warrant, the term “Liquidity Event” shall mean: (i) a
sale of all or substantially all of the Company’s assets; (ii) a sale of all or
substantially all of the Company’s issued and outstanding shares, such that
following the transaction more than fifty percent (50%) of the Company’s issued
shares are held by persons who, prior to the said transaction, held less than fifty
percent (50%) of the Company’s issued shares; or (iii) a merger or consolidation of
the Company with or into another corporation, such that following the transaction more
than fifty percent (50%) of the surviving entity’s issued shares are held by persons
who, prior to the said transaction, held less than fifty percent (50%) of the Company’s
issued shares. |
- 3 -
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The
number and kind of securities purchasable upon the exercise of this Warrant and the
Exercise Price shall be subject to adjustment from time to time as follows: |
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2.1. |
Stock
Splits, Dividends and Combinations. If the outstanding Company
Shares shall be subdivided into a greater number of shares or a
dividend or other distribution payable in additional shares shall be
paid in respect of Company Shares, the Exercise Price in effect
immediately prior to such subdivision or at the record date of such
dividend shall simultaneously with the effectiveness of such
subdivision or immediately after the record date of such dividend be
proportionately reduced. If outstanding Company Shares shall be
combined into a smaller number of shares, the Exercise Price in
effect immediately prior to such combination shall, simultaneously
with the effectiveness of such combination be proportionately
increased. When any adjustment is required to be made in the Exercise
Price, the number of Warrant Shares purchasable upon the exercise of
this Warrant shall be changed to the number determined by dividing (i)
an amount equal to the number of shares issuable upon the exercise of
this Warrant immediately prior to such adjustment, multiplied by the Exercise
Price in effect immediately prior to such adjustment, by (ii) the
Exercise Price in effect immediately after such adjustment. |
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2.2. |
Adjustment
for Cash Dividends and Distributions. In the event the Company,
at any time, makes or fixes a record date for the determination of
holders of Company Shares entitled to receive a cash dividend or
distribution, then and in each such event, the number of Warrant
Shares shall be adjusted (for the avoidance of doubt, never decreased
but either shall remain the same or increased), as of the close of
business on such record date, by multiplying the number of Warrant
Shares issuable upon conversion of this Warrant by a fraction: (i)
the numerator of which shall be the Fair Market Value of the Warrant Shares
on the determining date for such dividend or distribution; and (ii)
the denominator of which shall be the adjusted “ex-dividend” price
of the Warrant Shares. |
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2.3. |
Reclassification,
Etc. In case of any reclassification or change of the outstanding
securities of the Company or of any reorganization of the Company (or
any other corporation the stock or securities of which are at the time
receivable upon the exercise of this Warrant) or any similar
corporate reorganization, merger or conveyance on or after the date
hereof, then and in each such case the holder of this Warrant, upon
the exercise hereof at any time after the consummation of such
reclassification, change, reorganization, merger or conveyance, shall
be entitled to receive, in lieu of the stock or other securities and
property receivable upon the exercise hereof prior to such
consummation, the stock or other securities or property to which such
holder would have been entitled upon such consummation if such holder
had exercised this Warrant immediately prior thereto, all subject to
further adjustment as provided in Section 2; and in each such case,
the terms of this Section 2 shall be applicable to the shares of
stock or other securities properly receivable upon the exercise of
this Warrant after such consummation. |
- 4 -
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2.4. |
Other
Transactions. In the event that the Company shall issue shares to
its shareholders as a result of a split-off, spin-off or the like,
then the Company shall only complete such issuance or other action
if, as part thereof, allowance is made to protect the economic
interest of the Holder either by increasing the number of Warrant
Shares or by procuring that the Holder shall be entitled, on
economically proportionate terms, to acquire additional shares of the
spun-off or split-off entities. Upon each adjustment in the number or kind
of Warrant Shares purchasable hereunder, the Exercise Price shall be
proportionately increased or decreased, as the case may be, in a
manner that is the inverse of the manner in which the number of
Warrant Shares purchasable hereunder shall be adjusted. |
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2.5. |
Notice
of Adjustments. Whenever the Exercise Price or the number of
Warrant Shares purchasable hereunder shall be adjusted pursuant to
this Section 2, the Company shall prepare a certificate signed by an
executive officer of the Company setting forth, in reasonable detail,
the event requiring the adjustment, the amount of the adjustment, the
method by which such adjustment was calculated, the Exercise Price
and the number of Warrant Shares purchasable hereunder after giving
effect to such adjustment, and shall cause copies of such certificate
to be delivered to the Holder. |
| 3. |
Investment
Representations. |
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3.1. |
The
Holder is knowledgeable, sophisticated and experienced in making, and is
qualified to make, decisions with respect to investments in shares
representing an investment decision like that involved in the
purchase of this Warrant and the Warrant Shares (the “Purchased
Securities”), without limitation of the
representations and warranties included herein and in the Agreement
dated September 30, 2006, as amended, between the Holder and the
Company (the “Agreement”). |
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3.2. |
The
Holder is acquiring the Purchased Securities in the ordinary course of its
business and for its own account for investment only and with no
present intention of distributing any of such Purchased Securities
and does not have any current arrangement or understanding with any
other persons regarding the distribution of such securities (this
representation and warranty not limiting the Holder’s right to
sell or distribute in compliance with the Securities Act and the
rules and regulations thereunder); nothing contained herein shall be
deemed a representation or warranty by the Holder to hold the
Purchased Securities for any period of time; |
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3.3. |
The
Holder will not, directly or indirectly, offer, sell, pledge, transfer or
otherwise dispose of (or solicit any offers to buy, purchase or
otherwise acquire or take a pledge of) any of the Purchased
Securities, nor will the Holder engage in any short sale that results
in a disposition of any of the Purchased Securities by the Holder,
except in compliance with the Securities Act and the rules and
regulations thereunder and any applicable state securities laws; and |
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3.4. |
The
Holder is an “accredited investor” within the meaning of Rule
501(a) promulgated under the Securities Act. Neither such inquiries
nor any other due diligence investigation conducted by the Holder
shall modify, limit or otherwise affect the Holder’s right to
rely on the Company’s representations and warranties contained
herein or in the Agreement. |
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3.5. |
The
Holder understands that its investment in the Purchased Securities involves
a significant degree of risk, including a risk of total loss of Holder’s
investment. The Holder understands that no representation is being
made as to the future value or market price of the Company Shares.
The Holder has the knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risks of an
investment in the Purchased Securities and has the ability to bear
the economic risks of an investment in the Purchased Securities. |
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3.6. |
The
Holder understands that, until all of the applicable provisions of Section
3.7 hereof are satisfied, any certificates representing the Purchased
Securities will bear a restrictive legend in substantially the
following form: |
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“THE
SECURITIES EVIDENCED BY THIS CERTIFICATE (AND ANY SECURITIES THAT MAY BE ISSUED UPON
EXERCISE OF THE SECURITIES EVIDENCED BY THIS CERTIFICATE) HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) OR THE
SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. THE SECURITIES MAY NOT BE OFFERED,
SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (1) PURSUANT TO AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OR (2) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE
SECURITIES LAWS OF THE STATES AND OTHER JURISDICTIONS, AND IN THE CASE OF A TRANSACTION
EXEMPT FROM REGISTRATION (OTHER THAN PURSUANT TO RULE 144, PROVIDED THAT THE COMPANY HAS
RECEIVED CUSTOMARY REPRESENTATIONS CERTIFYING AS TO THE AVAILABILITY OF SUCH RULE 144),
UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO IT THAT
SUCH TRANSACTION DOES NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT AND SUCH OTHER
APPLICABLE LAWS.” |
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3.7. |
Promptly
following the earlier of (i) effectiveness of a registration statement
under the Securities Act with respect to the sale of Purchased
Securities or (ii) Rule 144 becoming available, the Company shall (A)
deliver to the transfer agent for the Company Shares (the “Transfer
Agent”) irrevocable instructions that the Transfer
Agent shall reissue a certificate representing the Warrant Shares
without legends upon receipt by such Transfer Agent of: (a) the
legended certificates for such Warrant Shares; and (b) either (1) a
customary written representation by the Holder that Rule 144 applies to
the Warrant Shares represented thereby or (2) a written statement by
the Company that the Holder may sell the Warrant Shares represented
thereby in accordance with the Plan of Distribution contained in a
registration statement that was declared effective under the
Securities Act (the date on which the Transfer Agent receives all of
the items listed in clauses (a), and (b) above, the “Legend Removal Date”),
and (B) if required by the Transfer Agent, cause its counsel to
deliver to the Transfer Agent one or more opinions to the effect that
the removal of such legends in such circumstances may be effected
under the Securities Act. From and after the Legend Removal Date, upon
the Holder’s written request, the Company shall promptly cause
certificates evidencing the Holder’s Warrant Shares referred to
in such written request to be replaced with certificates which do not
bear such restrictive legends, and Warrant Shares subsequently issued
upon due exercise of the Warrants shall not bear such restrictive
legends, provided the provisions of clauses (a) and (b) above, as
applicable, are satisfied with respect to such Warrant Shares. |
- 6 -
| 4. |
Exemption
from Registration. The Holder understands that the Purchased
Securities are being offered and sold to it in reliance upon specific
exemptions from the registration requirements of the Securities Act,
the rules and regulations thereunder and state securities laws and
that the Company is relying upon the truth and accuracy of, and the
Holder’s compliance with, the representations, warranties,
agreements, acknowledgments and understandings of the Holder set
forth herein in order to determine the availability of such
exemptions and the eligibility of the Holder to acquire the Purchased
Securities. |
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5.1. |
Subject
to the restrictions on transfer provided herein and subject to Sections
3.6 and 3.7, this Warrant shall be freely transferable or assignable,
in whole or in part, at the discretion of the Holder and the Company
shall transfer this Warrant, in whole or in part, from time to time
upon the books to be maintained by the Company for that purpose, upon
surrender thereof for transfer accompanied by appropriate
instructions for transfer and such other documents as may be
reasonably required by the Company, including, if reasonably required
by the Company, an opinion of its counsel to the effect that such
transfer is exempt from the registration requirements of the
Securities Act, to establish that such transfer is being made in
accordance with the terms hereof, and a new Warrant(s) shall be
issued to the transferee(s) and the surrendered Warrant shall be
canceled by the Company. |
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5.2. |
The
Company will maintain a register containing the names and addresses of the
Holder(s) of this Warrant. Until any transfer of this Warrant is made
in the warrant register, the Company may treat the Holder of this
Warrant as the absolute owner hereof for all purposes. Any Holder may
change such Holder’s address as shown on the warrant register by
written notice to the Company requesting such change. |
| 6. |
No
Impairment. The Company will not, by amendment of its charter
documents or through any reorganization, recapitalization, transfer
of assets, consolidation, merger, dissolution, sale of assets, issue
or sale of securities or any other voluntary action, avoid or seek to
avoid the observance or performance of any of the terms to be
observed or performed hereunder, or impair the economic interest of
the Holder, but will at all times in good faith assist in the
carrying out of all the provisions hereof and in taking of all such
actions and making all such adjustments as may be necessary or
appropriate in order to protect the rights and the economic interests
of the Holder against impairment. |
| 7. |
Termination.
This Warrant and the right to purchase securities upon exercise
hereof shall terminate on 5:00 P.M. Eastern Time on June 30, 2014. |
| 8. |
Notices
of Certain Transactions. In case: |
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8.1. |
the
Company shall take a record of the holders of its Company Shares (or other
shares or securities at the time deliverable upon the exercise of
this Warrant) for the purpose of entitling or enabling them to
receive any dividend or other distribution, or to receive any right
to subscribe for or purchase any shares of any class or any other
securities, or to receive any other right, to subscribe for or
purchase any shares of any class or any other securities, or to receive
any other right, or |
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8.2. |
of
any capital reorganization of the Company, any reclassification of the share
capital of the Company, any Liquidity Event, or |
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8.3. |
of
the voluntary or involuntary dissolution, liquidation or winding-up of the
Company, or |
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8.4. |
of
a public offering of the Company Shares pursuant to an effective registration
statement under the Securities Act or the equivalent actions under
the laws of another jurisdiction, |
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then,
and in each such case, the Company will deliver to the Holder a notice specifying, as the
case may be, (i) the date on which a record is to be taken for the purpose of such
dividend, distribution or right, and stating the amount and character of such dividend,
distribution or right, or (ii) the estimated effective date on which such reorganization,
reclassification, Liquidity Event, dissolution, liquidation or winding up is to take
place, and the time, if any is to be fixed, as of which the holders of record of Company
Shares (or such other shares or securities at the time deliverable upon such
reorganization, reclassification, Liquidity Event, dissolution, liquidation or winding up)
are to be determined. Such notice shall be delivered ten (10) days prior to the record
date or estimated effective date for the event specified in such notice. |
| 9. |
Reservation
of Shares. The Company will at all times reserve and keep available, solely
for the issuance and delivery upon the exercise of this Warrant, such Warrant
Shares and other shares, securities and property, as from time to time shall be
issuable upon the exercise of this Warrant. |
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10.1. |
The
Company covenants and agrees that the Holder shall be entitled to registration
rights pursuant to the Registration Rights Agreement, dated December 5, 2006,
by and among the Holder and the other parties named therein, as amended (the
“Registration Rights Agreement”), in respect of the Warrant
Shares purchasable hereunder (and any shares issued as (or issuable upon the
conversion or exercise of any warrant, right or other security that is issued
as) a dividend or other distribution with respect to, or in exchange for or in
replacement of, such Warrant Shares), and the Warrant Shares shall be deemed to
be Registrable Securities and Original Registrable Securities thereunder. |
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10.2. |
The
Holder undertakes to be bound by the provisions of Section 9 (Lock-Up
Agreement) of the Registration Rights Agreement, with respect to prohibitions
to offer or sale any Warrant Shares (or any other shares exchanged therefor),
if and to the extent that this Warrant has been exercised. For the purpose of
this sub-section 10.2 the Holder shall be considered a “Holder” and
the Warrant Shares shall be considered “Registrable Securities”, all
as defined in the Registration Rights Agreement. |
| 11. |
Replacement
of Warrants. Upon receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction or mutilation of this Warrant and (in
the case of loss, theft or destruction) upon delivery of an indemnity agreement
reasonably satisfactory to the Company, or (in the case of mutilation) upon
surrender and cancellation of this Warrant, the Company will issue, in lieu
thereof, a new Warrant of like tenor, dated as of the date hereof. This Warrant
is exchangeable, without expense, at the option of the Holder, upon
presentation and surrender hereof to the Company or at the office of its stock
transfer agent, if any, for other warrants of different denominations entitling
the holders thereof to purchase in the aggregate the same number of Warrant
Shares purchasable hereunder. |
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| 12. |
Notices.
Any notice required or permitted by this Warrant shall be in writing and
shall be deemed sufficient upon receipt, when delivered personally or by
courier, overnight delivery service or confirmed facsimile, or forty-eight (48)
hours after being deposited in the regular mail as certified or registered mail
(airmail if sent internationally) with postage prepaid, addressed (a) if to the
Holder, to the address of the Holder most recently furnished in writing to the
Company and (b) if to the Company, to the address set forth below or
subsequently modified by written notice to the Holder. |
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12.1. If to Holder: |
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to the address set forth on the signature page |
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12.2. If to Company: |
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Lumenis Ltd.
POB 240
Yokneam, Industrial Park Israel
Attention: Chief Executive Officer
Telephone No.: (972)-(4)-9599356
Facsimile No.: (972)-(4)- 9599360
|
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Each
of the above addressees may change its address for purposes of this Section by giving to
the other addressees notice of such new address in conformance with this paragraph. |
| 13. |
No
Rights as Shareholder. The Holder shall not have any rights as a
shareholder of the Company with regard to any of the Warrant Shares prior to
their exercise pursuant to this Warrant. |
| 14. |
No
Fractional Interest. No fractional shares will be issued in connection with
any exercise hereunder, but in lieu of such fractional shares which would
otherwise be issuable the number of shares shall rounded to the nearest whole
number. |
| 15. |
Entire
Agreement. This Warrant constitutes the entire agreement between the
parties hereto with regard to the subject matters hereof, and supercedes any
prior communications, agreements and/or understandings between the parties
hereto with regard to the subject matters hereof, including the Warrant to
Purchase Ordinary Shares of the Company No. 6 granted by the Company to the
Bank dated December 5, 2006, which is hereby amended and restated in its
entirety. |
| 16. |
Amendment
or Waiver. This Warrant may be amended only by a written instrument signed
by the Company and the Holder. Any term of this Warrant may be waived only by
an instrument in writing signed by the party against which enforcement of the
waiver is sought. |
| 17. |
Successors.
All the covenants and provisions hereof by or for the benefit of the Holder
shall bind and inure to the benefit of its respective successors and assigns
hereunder. |
| 18. |
Governing
Law; Jurisdiction. This Warrant shall be governed by and construed in
accordance with the laws of the State of Israel, without giving effect to
principles of conflicts of law. The parties hereby submit any dispute arising
under or in relation to this Warrant to the exclusive jurisdiction of the
competent court for the District of Tel Aviv-Jaffa, other than with respect to
the matters set forth in Section 1.3.2.2 which, in accordance with such
Section, are to be referred to arbitration. |
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| 19. |
Arbitration
Pursuant to Section 1.3.2.2. |
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19.1. |
In
the event a matter is referred to arbitration pursuant to Section 1.3.2.2
hereof, then such arbitration shall be conducted and all decisions and awards
shall be rendered by a single arbitrator (the “Arbitrator”) in
accordance with the rules of the Israeli Arbitration Law – 1968 (the
“Arbitration Law”), which rules and procedures are deemed to
be incorporated by reference into this Section. The arbitration proceedings
shall be conducted in Hebrew in Tel-Aviv, Israel. Any arbitration proceeding
hereunder shall be conducted on a confidential basis. |
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19.2. |
The
Arbitrator shall be jointly selected by the Company and the Holder, or, if such
parties do not select the Arbitrator within the ten (10) Business Days of the
delivery of a notice by either party to the other requesting such selection,
then the Arbitrator shall be appointed by the Chairman of the Israeli Bar
Association. |
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19.3. |
All
aspects of the arbitration proceedings, including all preliminary and
post-ruling matters, shall be conducted in accordance with Israeli substantive
laws then in force. The Arbitrator shall be authorized to determine the
procedural and evidentiary rules applicable to the arbitration and shall not be
bound by the rules of procedure or evidence under law. The Arbitrator
shall specify in writing the basis for his decision and the basis of any other
remedy authorized under this Section. The discretion of the Arbitrator to
fashion remedies hereunder shall be no broader than the legal and equitable
remedies available to a court in Israel. |
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19.4. |
Each
of the parties to the arbitration proceedings shall pay its own expenses. The
Company and the Holder will share equally the expenses of the arbitration
proceeding, unless otherwise determined by the Arbitrator in his award. |
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19.5. |
The
arbitration proceedings shall not exceed 30 Business Days from the commencement
of the proceedings. The Arbitrator shall provide its decision within 15 days
after the completion of the arbitration proceedings. Any award rendered by the
Arbitrator shall be final, binding and un-appealable, except as provided in the
Arbitration Law and judgment may be entered on any such award by Israeli court
having competent jurisdiction. |
| |
19.6. |
For
the purpose of this Section “Business Day” shall mean each day that
is not a Friday, Saturday or holiday on which banking institutions located in
Tel Aviv, Israel are authorized or obligated by law or executive order to
close. |
| 20. |
Headings.
The headings in this Warrant are for purposes of reference only and shall not
limit or otherwise affect the meaning of any provision of this Warrant. |
| 21. |
Counterparts.
This Warrant may be executed in one or more counterparts, all of which shall be
considered one and the same agreement and shall become effective when one or
more counterparts have been signed by each of the parties and delivered to the
other party, it being understood that all parties need not sign the same
counterpart and that signatures may be provided by facsimile transmission. |
– Signature
page follows –
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This AMENDED AND RESTATED WARRANT TO PURCHASE ORDINARY SHARES OF LUMENIS LTD. is executed as of the date first
set forth above.
Acknowledged and Agreed
to:
BANK HAPOALIM B.M.
By:
——————————————
Name
Title |
|
|
Address: Xxxxxxxx Xxxxx 00,
Xxxxxx Xxxxxxxxxx, Xxx Xxxx
Telephone No:
(972)-(3)-567-4757
Facsimile No.: (972)-(3)- 5675699
With a mandatory copy to:
Xxxxx Xxxxx & Xx.
0
Xxxxxxx Xxxxxx
Xxx-Xxxx, 00000
Telephone No.:
(972)-(3)-608-7856
Facsimile: (972)-(3)-608-7727
Attention:
Xxxxx X. Xxxxxxxx,
Advocate
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NOTICE OF EXERCISE
The undersigned, pursuant to the
provisions set forth in the attached AMENDED AND RESTATED WARRANT TO PURCHASE
ORDINARY SHARES OF LUMENIS LTD. hereby irrevocably elects to:
o purchase _______________________ Company Shares
covered by such Warrant and herewith makes payment of $ _______________________, representing the full
purchase price for such shares at the price per share provided for in such Warrant (as
adjusted from time to time pursuant to the terms of this Warrant), or
o exercise such Warrant for _______________________ shares purchasable under the Warrant pursuant to the Net Issue Exercise provisions of
Section 1.3 of such Warrant and tenders the Warrant accordingly.
Please issue a certificate
representing the Warrant Shares in the name of the undersigned or as otherwise indicated
below, and if the number of Warrant Shares shall not be all the Warrant Shares purchasable
upon exercise of the Warrant, that a new Warrant for the balance of the Warrant Shares
purchasable upon exercise of this Warrant be registered in the name of the undersigned or
as otherwise indicated below and delivered to the address stated below:
Name:
Address:
ID or Social Security No.:
——————————————
(Date)
|
——————————————
(Print Name)
——————————————
(Signature) |
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