EXHIBIT 4.6
EXTENSION OF PUT/CALL OPTION AGREEMENT DATED MAY 4, 2005
BETWEEN EN-ELTEK NETHERLANDS 2000 B.V. AND XX. XXXXX XXXXX
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EXTENSION OF PUT/CALL OPTION AGREEMENT
This extension of put/call option agreement (the "EXTENSION AGREEMENT") is made
on this __ day of May 2005, by and between:
EN-Eltek Netherlands 2002 B.V., a Netherlands corporation with offices located
at Xxxxxxxxx 000 Xxxxxxxxx 0 0000XX, Xxxxxxxxx, Xxx Xxxxxxxxxxx (hereinafter:
"EN-ELTEK"), and
Xx. Xxxxx Xxxxx, of Xxxxxxxxxxx 0, 00000 Xxxxxxxxx, Xxxxxxx (hereinafter:
"XXXXX")
Preambles:
WHEREAS, the parties hereto have entered into a Shares Purchase Agreement
(the "Purchase Agreement") on June 10, 2002, pursuant to which Xxxxx
has had a Put Right and En-Eltek has had a Call Right as the terms
defined in the Purchase Agreement; and
WHEREAS, the parties wish to extend certain provisions detailed in section
7.4.1 to the Purchase Agreement.
NOW, THEREFORE, it is agreed as follows:
1. The terms used in this Extension Agreement shall have the meanings as
defined under the Purchase Agreement.
2. The Option Period shall be extended until December 31, 2007.
3. The minimum Price for Alois's Holdings of 1,080,000 DM and the maximum
Price for Alois's Holdings of 1,800,000 DM shall increase by the addition
of interest at the rate of LIBOR + 1% from the date of this agreement
until the date of exercising the Put Right. The LIBOR rate to be used
shall be the annual interest rate for the Euro prevailing at the time of
signing this Agreement and each year thereafter.
4. All other terms and conditions not specifically amended herein shall
continue to be in full force and effect.
5. This Extension Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of each together shall
constitute one and the same instrument.
IN WITNESS WHEREOF, Eltek and Xxxxx have executed this Extension Agreement, as
of the day and year first above written.
EN-ELTEK XX. XXXXX XXXXX
By: /s/ Xxxxxx Xxxxx By: /s/ Xxxxx Xxxxx
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Name: Xxxxxx Xxxxx Name: Xxxxx Xxxxx
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By: /s/ Xxxxx Xxxxxxxx
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Name: Xxxxx Xxxxxxxx
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