Exhibit 2.9.10
ADDENDUM 2 TO CONVERTIBLE LOAN AGREEMENT
THIS ADDENDUM 2 TO CONVERTIBLE LOAN AGREEMENT (this "Addendum") dated
as of May 15, 2003 ("Effective Date"), is by and between Commtouch Software
Ltd., an Israeli corporation ("Commtouch"), and the lenders signing below (each,
a "Lender", and collectively, the "Lenders").
WHEREAS, Commtouch and the Lenders previously executed the Convertible
Loan Agreement on January 29, 2003 ("Agreement"); and
WHEREAS, the Lenders have funded the first tranche of the Loan, and
have indicated their intent to fund the second tranche of the Loan; and
WHEREAS, XDL Capital Corp., on behalf of certain of the existing and
new Lenders, has exercised the option to fund the additional amount of the Loan
of $345,000 pursuant to Addendum 1 to Convertible Loan Agreement dated March 28,
2003; and
NOW, THEREFORE, in consideration of the foregoing premises and the
representations, warranties, covenants and agreements herein contained, and
intending to be legally bound hereby, the parties agree as follows:
1. Amendment to Exhibit "A" to the Agreement
Exhibit "A" to the Agreement is replaced and superseded by the following new
Exhibit "A":
Lenders' Names and Addresses First Tranche Loan Amount Second Tranche Loan Amount
- ---------------------------- ------------------------- --------------------------
AxcessNet Resources LLC. $44,000 $156,000
------- --------
1050 Winter Street (Suite 2400),
Waltham MA 02451
Tel: (781)466-8888;
Fax:(781)466-8822;
Email:eyal@axcess-net.com
Bert Amato $40,000 $60,000
------- -------
364 Glencairn Avenue
Toronto, Ontario
M5N 1V1
Phone: (416) 488-9459
Fax:(416) 484-1409
Email: bamato@sympatico.ca
Compugen Systems Ltd. $50,000 $75,000
------- -------
25 Leek Crescent
Richmond Hill, ON Canada L4B4B3
tel: 905 707-2050, 1-800-387-5045;
fax: (905) 707-2020 Email:
hzarek@compugen.com
Delta Capital Investments Ltd. $20,000 $30,000
------- -------
37-41 Bedford Row
London, WC1R4JH
Fax 44-20-76112396
Email: delta51@attglobal.net
Attn: David Teacher
KKB Ventures LLC $100,000 $150,000
-------- --------
Attn: Ken Casey
285 Musketaquid Rd. Concord, Ma. 01742
Tel: 617 320-9764
Fax: none
Email: kfcasey@hotmail.com
XDL Capital Corp. $50,000 $165,000
------- --------
30 St. Clair Avenue West, Ste. 901,
Toronto, M4V 3A1
Attn: David Latner, ASO & Dennis Bennie
Tel:416-250-1990
fax:416-250-6330
Email: dbennie@xdl.com; dlatner@xdl.com
Edward B. Roberts $30,000 $45,000
------- -------
David Sarnoff Professor of the
Management of Technology
MIT Sloan School of Management
300 Boylston St.
Boston, MA 02116
Tel: 617-482-0671
Fax: 617-426-9107
Email: eroberts@mit.edu
LENE L.P. $20,000 $30,000
------- -------
c/o Lloyd E. Shefsky, General Partner
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com
Yona Hollander $8,000 $12,000
------ -------
19261 Phil lane
Cupertino, CA 95014
Tel: 408-996-1579
Fax: 408 467 4601
yhollander@entercept.com
Lloyd E. Shefsky $25,000
-------
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com
OZF Ltd. $90,000
-------
Tropic Isle Building
Wickhams Cay, P.O. Box 964
Road Town, Tortola, British Virgin
Islands
c/o Tis Prager, Prager Dreifuss,
Muehlebachstr. 6, CH-8008 Zurich,
Switzerland
Fax: +41 1 254 55 99
Email: mail@prager-dreifuss.com
Clarenville Ltd.
Nora Court 86, CY-3040 $50,000
-------
Athinon Street
Limassol, Cyprus
Attn: Shlomo Weintraub
Tel: +1 408 666 8201
Fax: +1 408 255 7420
Email: shlomowein@yahoo.com;
simon@capital-inv.com
Attn: Mr. Elikos Elia
Tel: 357 2 5555000
Fax: 357 2 5555001
Email: elikos.elia@cy.pwc.com
2. Amendment to Exhibit "C" to the Agreement
Exhibit "A" to Exhibit "C" of the Agreement is replaced and superseded by the
following new schedule:
Note Holders
AxcessNet Resources LLC. Edward B. Roberts
1050 Winter Street (Suite 2400), David Sarnoff Professor of the Management of
Waltham MA 02451 Technology
Tel: (781)466-8888; MIT Sloan School of Management
Fax:(781)466-8822; 300 Boylston St.
Email:eyal@axcess-net.com Boston, MA 02116
Tel: 617-482-0671
Fax: 617-426-9107
Email: eroberts@mit.edu
Bert Amato LENE L.P.
364 Glencairn Avenue c/o Lloyd E. Shefsky, General Partner
Toronto, Ontario 444 N. Michigan Ave.
M5N 1V1 Chicago, IL 60611
Phone: (416) 488-9459 Tel: 312-836-4001
Fax:(416) 484-1409 Fax: 312-527-9931
Email: bamato@sympatico.ca Email: leshefsky@shefskyltd.com
Compugen Systems Ltd. Yona Hollander
25 Leek Crescent 19261 Phil lane
Richmond Hill, ON Canada L4B 4B3 Cupertino, CA 95014
tel: 905 707-2050, 1-800-387-5045; Tel: 408-996-1579
fax: (905) 707-2020 Fax: 408 467 4601
Email: hzarek@compugen.com yhollander@entercept.com
Delta Capital Investments Ltd. Lloyd E. Shefsky
37-41 Bedford Row 444 N. Michigan Ave.
London, WC1R4JH Chicago, IL 60611
Fax 44-20-76112396 Tel: 312-836-4001
Email: delta51@attglobal.net Fax: 312-527-9931
Attn: David Teacher Email: leshefsky@shefskyltd.com
KKB Ventures LLC OZF Ltd.
Attn: Ken Casey Tropic Isle Building
285 Musketaquid Rd. Concord, Ma. 01742 Wickhams Cay, P.O. Box 964
Tel: 617 320-9764 Road Town, Tortola, British Virgin Islands
Fax: none c/o Tis Prager, Prager Dreifuss, Muehlebachstr.
Email: kfcasey@hotmail.com 6, CH-8008 Zurich, Switzerland
Fax: +41 1 254 55 99
Email: mail@prager-dreifuss.com
XDL Capital Corp. Clarenville Ltd.
30 St. Clair Avenue West, 9th Floor, Nora Court 86, CY-3040
Toronto, M4V 3A1 Athinon Street
Tel:416-250-1990 Limassol, Cyprus
fax:416-250-6330 Attn: Shlomo Weintraub
Email: dbennie@mobile.rogers.com Tel: +1 408 666 8201
Fax: +1 408 255 7420
Email: shlomowein@yahoo.com;
simon@capital-inv.com
Attn: Mr. Elikos Elia
Tel: 357 2 5555000
Fax: 357 2 5555001
Email: elikos.elia@cy.pwc.com
3. Amendment to Exhibit "G" to the Agreement
Annex 1 to Exhibit "G" to the Agreement is replaced and superseded by the
following new Annex 1:
AxcessNet Resources LLC.
1050 Winter Street (Suite 2400)
Waltham MA 02451
Tel: (781)466-8888;
Fax:(781)466-882;
Email:eyal@axcess-net.com
Bert Amato
364 Glencairn Avenue
Toronto, Ontario
M5N 1V1
Phone: (416) 488-9459
Fax:(416) 484-1409
Email: bamato@sympatico.ca
Compugen Systems Ltd.
25 Leek Crescent
Richmond Hill, ON Canada L4B 4B3
tel: 905 707-2050, 1-800-387-5045;
Email: hzarek@compugen.com
Delta Capital Ltd.
788-790 Finchley Road
London, NW117TJ
Fax 44-20-82019448
Email: David@bcbusnes.demon.co.il
gideon@betasea.com
KKB Ventures LLC
Attn: Ken Casey
285 Musketaquid Rd.
Concord,Ma. 01742
Tel: 617 320-9764
Fax: none
Email: kfcasey@hotmail.com
XDL Capital Corp.
30 St. Clair Avenue West, Ste. 901,
Toronto, M4V 3A1
Attn: David Latner, ASO & Dennis Bennie
Tel:416-250-1990
fax:416-250-6330
Email: dbennie@xdl.com; dlatner@xdl.com
Edward B. Roberts
David Sarnoff Professor of the Management of Technology
MIT Sloan School of Management
300 Boylston St.
Boston, MA 02116
Tel: 617-482-0671
Fax: 617-426-9107
Email: eroberts@mit.edu
LENE L.P.
c/o Lloyd E. Shefsky, General Partner
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com
Yona Hollander
19261 Phil lane
Cupertino, CA 95014
Tel: 408-996-1579
Fax: 408 467 4601
yhollander@entercept.com
Lloyd E. Shefsky
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com
OZF Ltd.
Tropic Isle Building
Wickhams Cay, P.O. Box 964
Road Town, Tortola, British Virgin Islands
c/o Tis Prager, Prager Dreifuss, Muehlebachstr. 6,
CH-8008 Zurich, Switzerland
Fax: +41 1 254 55 99
Email: mail@prager-dreifuss.com
Clarenville Ltd.
Nora Court 86, CY-3040
Athinon Street
Limassol, Cyprus
Attn: Shlomo Weintraub
Tel: +1 408 666 8201
Fax: +1 408 255 7420
Email: shlomowein@yahoo.com;
simon@capital-inv.com
Attn: Mr. Elikos Elia
Tel: 357 2 5555000
Fax: 357 2 5555001
Email: elikos.elia@cy.pwc.com
4. Amendment to Exhibit "H" to the Agreement
Annex 1 to Exhibit "H" to the Agreement is replaced and superseded by the
following new Annex 1:
AxcessNet Resources LLC.
1050 Winter Street (Suite 2400), Waltham MA 02451
Tel: (781)466-8888;
Fax:(781)466-882;
Email:eyal@axcess-net.com
Bert Amato
364 Glencairn Avenue
Toronto, Ontario
M5N 1V1
Phone: (416) 488-9459
Fax:(416) 484-1409
Email: bamato@sympatico.ca
Compugen Systems Ltd.
25 Leek Crescent
Richmond Hill, ON Canada L4B 4B3
tel: 905 707-2050, 1-800-387-5045;
Email: hzarek@compugen.com
Delta Capital Ltd.
788-790 Finchley Road
London, NW117TJ
Fax 44-20-82019448
Email: David@bcbusnes.demon.co.il
gideon@betasea.com
KKB Ventures LLC
Attn: Ken Casey
285 Musketaquid Rd.
Concord,Ma. 01742
Tel: 617 320-9764
Fax: none
Email: kfcasey@hotmail.com
XDL Capital Corp.
30 St. Clair Avenue West, Ste. 901,
Toronto, M4V 3A1
Attn: David Latner, ASO & Dennis Bennie
Tel:416-250-1990
fax:416-250-6330
Email: dbennie@xdl.com; dlatner@xdl.com
Edward B. Roberts
David Sarnoff Professor of the Management of Technology
MIT Sloan School of Management
300 Boylston St.
Boston, MA 02116
Tel: 617-482-0671
Fax: 617-426-9107
Email: eroberts@mit.edu
LENE L.P.
c/o Lloyd E. Shefsky, General Partner
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com
Yona Hollander
19261 Phil lane
Cupertino, CA 95014
Tel: 408-996-1579
Fax: 408 467 4601
yhollander@entercept.com
Lloyd E. Shefsky
444 N. Michigan Ave.
Chicago, IL 60611
Tel: 312-836-4001
Fax: 312-527-9931
Email: leshefsky@shefskyltd.com
OZF Ltd.
Tropic Isle Building
Wickhams Cay, P.O. Box 964
Road Town, Tortola, British Virgin Islands
c/o Tis Prager, Prager Dreifuss, Muehlebachstr. 6,
CH-8008 Zurich, Switzerland
Fax: +41 1 254 55 99
Email: mail@prager-dreifuss.com
Clarenville Ltd.
Nora Court 86, CY-3040
Athinon Street
Limassol, Cyprus
Attn: Shlomo Weintraub
Tel: +1 408 666 8201
Fax: +1 408 255 7420
Email: shlomowein@yahoo.com;
simon@capital-inv.com
Attn: Mr. Elikos Elia
Tel: 357 2 5555000
Fax: 357 2 5555001
Email: elikos.elia@cy.pwc.com
5. GENERAL
a. Terms used herein shall have the same meaning as ascribed to such terms
in the Agreement.
b. In signing this Addendum 2, the signatories hereon: (i) agree that the
new lenders to the Agreement added by way of this addendum (i.e. Lloyd
E. Shefsky, OZF Ltd. and Clarenville Ltd.) shall be deemed to be
"Lenders" under the Agreement in all respects, with accompanying rights
and obligations associated with that term being assumed by such new
lenders as if they were original signatories to the Agreement; (ii)
agree that the signatures hereon by such new lenders shall constitute
their signature to those agreements attached to the Agreement as
Exhibits that were previously executed by all Lenders independent of
the execution of the Agreement; (iii) waive any claim, right or defense
against any other party including against any new lender, based on the
fact that the Second Tranche exceeds $750,000; (iv) waive any claim,
right or defense against any other party including against any new
lender, based on any delay in providing notice of intent to
participate, or funding, which occurred prior to the signing of this
Addendum or lack of participation in the First Tranche; (v) acknowledge
that each party has the obligation to ascertain for itself that all
closing conditions have been satisfied; (vi) acknowledge that s.10.2 of
the Agreement is amended for new lenders to oblige them only to fund
the Second Tranche.
c. The new lenders confirm having had the opportunity to obtain
independent legal advice, to do due diligence satisfactory for their
purposes, and to review the Convertible Loan Agreement dated January
29, 2003 and all exhibits and schedules therein, or documents
incorporated by reference.
d. The Company confirms it is not in default under the Agreement,
including the promissory notes, and any other document referred to in
the Agreement.
e. Except to the extent amended hereby, the terms and conditions of the
Agreement shall remain in full force and effect as between the parties
hereto throughout the term of the Agreement.
IN WITNESS WHEREOF, the parties have caused this Addendum to be executed as of
the Effective Date by their respective authorized representatives.
COMMTOUCH SOFTWARE LTD.
By: ________________ By: _______________
Title: _______________ Title:______________
LENDERS:
AxcessNet Resources LLC Yona Hollander
By: __________________________ By: ____________________________
Title: _________________________ Title: ___________________________
Acknowledged and Agreed:
Bert Amato COLLATERAL AGENT:
By: __________________________ XDL Capital Corp.
Title: _________________________ By: __________________________
Title: _________________________
Compugen Systems Ltd.
By: __________________________ Delta Capital Investments Ltd.
Title: _________________________ By: __________________________
Title: _________________________
KKB Ventures LLC Lloyd E. Shefsky
By: __________________________ By: ___________________________
Title: _________________________ Title: __________________________
XDL Capital Corp. OZF Ltd.
By: __________________________ By: ___________________________
Title: _________________________ Title: __________________________
Edward B. Roberts Clarenville Ltd.
By: __________________________ By: __________________________
Title: _________________________ Title: _________________________
LENE L.P.
By: ___________________________
Title: __________________________