0001178913-06-000996 Sample Contracts

AMENDMENT TO ASSET AND SHARE PURCHASE AGREEMENT
Asset and Share Purchase Agreement • May 31st, 2006 • Elbit Vision Systems LTD • Industrial instruments for measurement, display, and control

THIS AMENDMENT TO THE ASSET AND SHARE PURCHASE AGREEMENT (the “Amendment”), is entered into and made effective as of February 21, 2006 by and between Elbit Vision Systems Ltd., an Israeli company (the “EVS”), Scanmaster Systems (IRT) Ltd. (“Scan”), Panoptes Ltd. (the “Company”) and Ma’aragim Enterprises Ltd. (“Ma’aragim”).

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SHAREHOLDERS AGREEMENT
Shareholders Agreement • May 31st, 2006 • Elbit Vision Systems LTD • Industrial instruments for measurement, display, and control

This Shareholders Agreement (the “Agreement”) is made as of this 21st day of February 2006 by and between (i) M.S.N.D. Real Estate Holdings Ltd. (“Mivtach”); (ii) Nir Alon (“Nir”); (iii) Nir Alon Holdings GmbH, a company formed under the laws of Austria (“Nir Alon Holdings” and, together with Nir, “Nir Alon”); (iv) Elbit Ltd., a company formed under the laws of the State of Israel (“Elbit”); and (v) M.S. Master Investments (2002) Ltd., a company formed under the laws of the State of Israel (“MS”). (Nir Alon, Elbit and MS will be referred to collectively as the “Founders”) (Founders, together with Mivtach, each, a “Shareholder” and, collectively, the “Shareholders”).

ASSET AND SHARE PURCHASE AGREEMENT
Asset and Share Purchase Agreement • May 31st, 2006 • Elbit Vision Systems LTD • Industrial instruments for measurement, display, and control

THIS ASSET AND SHARE PURCHASE AGREEMENT (“Agreement”) is made and entered into as of December 27, 2005 by and among: Elbit Vision Systems Ltd., an Israeli company (the “EVS”), Scanmaster Systems (IRT) Ltd. (“Scan”), Panoptes Ltd. (the “Company”) and Ma’aragim Enterprises Ltd. (“Ma’aragim”).

AGREEMENT
Loan Agreement • May 31st, 2006 • Elbit Vision Systems LTD • Industrial instruments for measurement, display, and control

THIS AGREEMENT (this “Agreement”) made and entered into as of the Second day of January, 2006, by and between Elbit Vision Systems Ltd. (the “Company” or “EVS”) and Mivtach-Shamir Holdings Ltd. (“Mivtach”).

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