-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LTXbDNph4yTAms1tGacoT6tL4sOdHLpILBhBaFFaJAp5H1fWY9CQSGEHmUJajxem q1X5d5jGOj91Bq0B4NgVzQ== 0001178913-10-002179.txt : 20100819 0001178913-10-002179.hdr.sgml : 20100819 20100819141138 ACCESSION NUMBER: 0001178913-10-002179 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 5 FILED AS OF DATE: 20100819 DATE AS OF CHANGE: 20100819 GROUP MEMBERS: MR. AVI LANDMAN GROUP MEMBERS: MR. ELI ROZEN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Vuance CENTRAL INDEX KEY: 0001291855 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-80599 FILM NUMBER: 101027608 BUSINESS ADDRESS: STREET 1: PO BOX 2094 CITY: RA STATE: L3 ZIP: 43665 BUSINESS PHONE: 972-9-775-0800 MAIL ADDRESS: STREET 1: PO BOX 2094 CITY: RA STATE: L3 ZIP: 43665 FORMER COMPANY: FORMER CONFORMED NAME: SuperCom Ltd. DATE OF NAME CHANGE: 20040526 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Sigma Wave Ltd CENTRAL INDEX KEY: 0001499338 IRS NUMBER: 000000000 STATE OF INCORPORATION: L3 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: ABA EVEN BLVR, POBOX 12750 CITY: HERTZELIYA STATE: L3 ZIP: 46733 BUSINESS PHONE: 97299618888 MAIL ADDRESS: STREET 1: ABA EVEN BLVR, POBOX 12750 CITY: HERTZELIYA STATE: L3 ZIP: 46733 SC 13D 1 zk1008694.htm SC 13D zk1008694.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13D
 
Under the Securities Exchange Act of 1934
 
VUANCE LTD.

(Name of Issuer)

Ordinary Shares NIS 0.0588235 nominal value
(Title of Class of Securities)

None
(CUSIP Number)

PureRFid, Inc., 9817 S. 13th Street, Oak Creek, WI 53154, Tel. (414) 301-9435
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

July 6, 2010
(Date of Event Which Requires Filing of this Statement)
 
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d–1(e), 240.13d–1(f) or 240.13d–1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d–7 for other parties to whom copies are to be sent.

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
 

 

(1)
Name of Reporting Person:
 
Sigma Wave Ltd.
(2)
Check the Appropriate Box if a Member of a Group (See Instructions).
(a): x
(b): o
(3) SEC Use Only
 
(4)
Source of Funds (see instructions): 
 
WC
(5)
Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(e) or 2(f).
 
o
(6)
Place of Organization:
 
Israel
Number of
shares
beneficially
owned by
each reporting
person  with:
(7)
Sole Voting Power:
 
398,881
(8)
Shared Voting Power:
 
811,091
(9)
Sole Dispositive Power:
 
398,881
(10)
Shared Dispositive Power:
 
811,091
(11)
Aggregate Amount Beneficially Owned by Each Reporting Person:
 
1,209,972
(12)
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions).
 
o
(13)
Percent of class represented by amount in Row (11):
 
16.66%
(14)
Type of Reporting Person (See Instructions):
 
CO

 
 
2

 
 

(1)
Name of Reporting Person:
 
Mr. Eli Rozen
(2)
Check the Appropriate Box if a Member of a Group (See Instructions).
(a): x
(b): o
(3) SEC Use Only
 
(4)
Source of Funds (see instructions): 
 
OO
(5)
Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(e) or 2(f).
 
o
(6)
Citizenship:
 
Israel
Number of
shares
beneficially
owned by
each reporting
person  with:
(7)
Sole Voting Power:
 
553,273
(8)
Shared Voting Power:
 
412,311
(9)
Sole Dispositive Power:
 
553,273
(10)
Shared Dispositive Power:
 
412,311
(11)
Aggregate Amount Beneficially Owned by Each Reporting Person:
 
965,584
(12)
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions).
 
o
(13)
Percent of class represented by amount in Row (11):
 
12.35%
(14)
Type of Reporting Person (See Instructions):
 
IN


 
3

 
 

(1)
Name of Reporting Person:
 
Mr. Avi Landman
(2)
Check the Appropriate Box if a Member of a Group (See Instructions).
(a): x
(b): o
(3) SEC Use Only
 
(4)
Source of Funds (see instructions): 
 
OO
(5)
Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(e) or 2(f).
 
o
(6)
Citizenship: 
 
Israel
Number of
shares
beneficially
owned by
each reporting
person  with:
(7)
Sole Voting Power:
 
217,366
(8)
Shared Voting Power:
 
398,780
(9)
Sole Dispositive Power:
 
217,366
(10)
Shared Dispositive Power:
 
398,780
(11)
Aggregate Amount Beneficially Owned by Each Reporting Person:
 
616,146
(12)
Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions).
 
o
(13)
Percent of class represented by amount in Row (11):
 
8.24%
(14)
Type of Reporting Person (See Instructions):
 
IN
 
 
4

 

Item 1.  Security and Issuer

This statement on Schedule 13D (the “Statement”) relates to the ordinary shares NIS 0.0588235 nominal value (the “Ordinary Shares”) of Vuance Ltd. (the “Issuer”).  The principal executive offices of the Issuer are located at Sagid House “Ha’Sharon Industrial Park”, P.O.B. 5039, Qadima 60920, Israel.

Item 2.  Identity and Background

This Statement is being filed jointly on behalf of the following persons (collectively, the “Reporting Persons”) pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934:

 
(a)
Sigma Wave Ltd. (“Sigma Wave”), a company incorporated in Israel;
 
 
(b)
Mr. Eli Rozen (“Mr. Rozen”), a citizen of Israel; and
 
 
(c)
Mr. Avi Landman (“Mr. Landman”), a citizen of Israel.
 
Sigma Wave is principally engaged in the business of wireless and internet technologies.  The principal office address of Sigma Wave is Aba Even, P.O.B. 12750, Hertzlia 46733, Israel.

Mr. Rozen is principally engaged in providing consulting and management services through his wholly owned company, Finel Architecture and Engineering Ltd. (“Finel”).  The business address of Mr. Rozen is 3, Tiran, Hertzeliya, Israel.

Mr. Landman is principally engaged in providing consulting services related to smart card technology through Ashland Investment Ltd.  The business address of Mr. Landman is Hagdud Haivri Street, Kiryat Motzkin, Israel.

Information with respect to each Reporting Person is given solely by such Reporting Person, and no Reporting Person assumes responsibility for the accuracy or completeness of the information furnished by any other Reporting Person.

During the last five (5) years, neither the Reporting Persons, nor, in the case of Sigma Wave, to the best of its knowledge, any of Sigma Wave’s officers or directors, (a) have been convicted of a criminal proceeding (excluding minor traffic violations or similar misdemeanors); or (b) have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Item 3.  Source and Amount of Funds or Other Consideration

On July 6, 2010, the Reporting Persons entered into a voting agreement (the “Voting Agreement”), pursuant to which, in consideration of the mutual covenants and agreements set forth therein, the Reporting Persons agreed to vote certain Ordinary Shares of the Issuer held by the Reporting Person, and to certain restrictions on the disposition of such Ordinary Shares, as set forth therein (and as more fully described in Item 6 below).

Mr. Rozen and Mr. Landman beneficially owned, respectively, 965,584 and 616,146 Ordinary Shares of the Issuer prior to entering into the Voting Agreement.

On July 12, 2010, Sigma Wave purchased an additional 398,881 Ordinary Shares of the Issuer from Mr. Jacob Hassan.  Sigma Wave purchased the Ordinary Shares with working capital at a cost of approximately $80,015.00.

The foregoing description of the Voting Agreement is qualified in its entirety by reference to the full text of the agreement, which is incorporated herein by reference.

 
5

 


Item 4.  Purpose of Transaction

The Reporting Persons entered into the Voting Agreement, and Sigma Wave purchased the Ordinary Shares of the Issuer from Mr. Jacob Hassan, for the purpose of assisting the Issuer in restructuring its current debt.  In the event of any further debt restructuring between the Issuer and any of its current note holders, Sigma Wave may acquire beneficial ownership of additional Ordinary Shares of the Issuer in the open market, in privately negotiated transactions or otherwise, further to such restructuring.

Mr. Rozen and Mr. Landman resigned from the Issuer's board of directors (the “Board”), respectively on July 25, 2010 and July 8, 2010, and three (3) new directors were appointed by the Board to serve on the Board, including Mrs. Tsviya Trabelsi, Chief Financial Officer of Sigma Wave.

        The Reporting Persons may engage the Issuer in discussions that may include matters relating to the Issuer's strategy, business, assets, operations, capitalization and/or financial condition, or in proposing one or more of the other actions described in subsections (a) through (j) of Item 4 of Schedule 13D.

Item 5.  Interest in Securities of the Issuer

 
(a)
Aggregate Number and Percentage of Ordinary Shares Beneficially Owned by each Reporting Person.

 
i.
The aggregate number of Ordinary Shares beneficially owned by Sigma Wave to which this Statement relates is 1,209,972 Ordinary Shares.  According to the Issuer’s Form 20-F for fiscal year ended December 31, 2009 (the “Form 20-F”), the percentage of the Issuer’s Ordinary Shares beneficially owned by Sigma Wave is 16.66%.

 
ii.
The aggregate number of Ordinary Shares beneficially owned by Mr. Rozen to which this Statement relates is 965,584 Ordinary Shares.  Mr. Rozen directly holds 412,311 Ordinary Shares and possesses the right to acquire the beneficial ownership of 176,811 Ordinary Shares through the exercise of options held directly by Mr. Rozen.  Further, Mr. Rozen, in his capacity as sole shareholder of Finel, has the ability to appoint and remove directors of Finel, and, as such, may indirectly control the decisions of Finel regarding the vote and disposition of securities held by Finel; therefore, Mr. Rozen may be deemed to have indirect beneficial ownership of 376,462 Ordinary Shares through the exercise of options held directly by Finel.  According to the Issuer’s Form 20-F, the percentage of the Issuer’s Ordinary Shares beneficially owned by Mr. Rozen is 12.35%.

 
iii.
The aggregate number of Ordinary Shares beneficially owned by Mr. Landman to which this Statement relates is 616,146 Ordinary Shares.  Mr. Landman directly holds 313,780 Ordinary Shares and possesses the right to acquire the beneficial ownership of 217,366  Ordinary Shares through the exercise of options held directly by Mr. Landman.  Further, Mr. Landman, in his capacity as managing member of Ashland Investments LLC (“Ashland”), has the ability to appoint and remove directors of Ashland, and, as such, may indirectly control the decisions of Ashland regarding the vote and disposition of securities held by Ashland; therefore, Mr. Landman may be deemed to have indirect beneficial ownership of 85,000 Ordinary Shares held directly by Ashland.  According to the Issuer’s Form 20-F, the percentage of the Issuer’s Ordinary Shares beneficially owned by Mr. Land man is 8.24%.

 
(b)
Power to Vote or to Dispose of Ordinary Shares.

 
i.
Sigma Wave has the sole power to vote or to direct the vote of, or to dispose or to direct the disposition of, 398,881 Ordinary Shares of the Issuer.  By virtue of the Voting Agreement, Sigma Wave has the power to direct the vote of an additional 811,091 Ordinary Shares of the Issuer, beneficially owned by Mr. Rozen and Mr. Landman.
 
 
6

 
 
 
ii.
Mr. Rozen has the sole power to vote or to direct the vote of, or to dispose or to direct the disposition of, 553,273 Ordinary Shares of the Issuer.  By virtue of the Voting Agreement, Mr. Rozen shares the power to vote, or to dispose or to direct the disposition of, 412,311 Ordinary Shares of the Issuer, of which he beneficially owns.

 
iii.
Mr. Landman has the sole power to vote or to direct the vote of, or to dispose or to direct the disposition of, 217,366 Ordinary Shares of the Issuer.  By virtue of the Voting Agreement, Mr. Landman shares the power to vote, or to dispose or to direct the disposition of, 398,780 Ordinary Shares of the Issuer, of which he beneficially owns.

 
(c)
Except for the transaction described in Item 3 above, the Reporting Persons have not, during the past sixty (60) days, effected any transactions in Ordinary Shares of the Issuer.

 
(d)
According to the Issuer’s Form 20-F, to each Reporting Person’s knowledge, the following persons (in addition to the Reporting Persons) have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than five percent (5%) of the Ordinary Shares of the Issuer:

 
i.
Special Situations Fund III, L.P.;
 
ii.
Special Situations Fund III, Q.P.;
 
iii.
Special Situations Cayman Fund, L.P.;
 
iv.
Homeland Security Capital Corporation; and
 
v.
Yitzchak Babayov.

 
(e)
Not applicable.

Item 6.  Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

On July 6, 2010, the Reporting persons entered into a voting agreement (the “Voting Agreement”), pursuant to which, in consideration of the mutual covenants and agreements set forth therein, Mr. Rozen and Mr. Landman agreed, inter alia, to vote, respectively, 412,311 and 398,780 Ordinary Shares of the Issuer, beneficially owned by such Reporting Person, in accordance with the instructions of Sigma Wave.  Under the Voting Agreement, Mr. Rozen and Mr. Landman further agreed to certain restrictions on the disposition of the Ordinary Shares of the Issuer set forth therein.

Mr. Rozen and Mr. Landman beneficially owned, respectively, 965,584 and 616,146 Ordinary Shares of the Issuer prior to entering into the Voting Agreement.

On July 12, 2010, Sigma Wave purchased an additional 398,881 Ordinary Shares of the Issuer from Mr. Jacob Hassan.  Sigma Wave purchased the Ordinary Shares with working capital at a cost of approximately $80,015.00.

The foregoing description of the Voting Agreement is qualified in its entirety by reference to the full text of the agreement, which is incorporated herein by reference.

Item 7.  Material to be Filed as Exhibits

Exhibit A - Voting Agreement, dated July 6, 2010, between Sigma Wave Ltd., Mr. Eli Rozen and Mr. Avi Landman.

 
7

 
 
SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Statement is true, complete and correct.

Dated:  August 19, 2010          
 
 
 
SIGMA WAVE LTD.
 
By:        /s/ Tsviya Trabelsi                                                      
Name:   Tsviya Trabelsi                                           
Title:     Chief Financial Officer                                                      


MR. ELI ROZEN

By:        /s/ Eli Rozen                                


MR. AVI LANDMAN

By:        /s/ Avi Landman                  
 
8
 


 
 

                         


EX-99 2 exhibit_a.htm EXHIBIT A exhibit_a.htm


Exhibit A
 
VOTING AGREEMENT
 
    VOTING AGREEMENT, dated as of July 6, 2010 (this Agreement), between Sigma Wave Ltd. (Sigma), and each of the undersigned shareholders (the Shareholders) of Vuance Ltd. (Vuance).
 
    WHEREAS, each of the Shareholders beneficially owns such number of ordinary shares of Vuance, with par value of NIS 0.00588235 each (the Vuance Shares), as set forth on Schedule A hereto (the Covered Shares), constituting in the aggregate 811,091 Vunace Shares, being 11.17% of the total number of the issued and outsta nding Vuance Shares.
 
    AND WHEREAS, the Shareholders and Vuance desire to enter into a voting agreement in respect of the Covered Shares;
 
    NOW, THEREFORE, in consideration of the the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the parties hereby agree as follows:
 
 
    1.   Agreement to Vote. Prior to any termination of this Agreement, each of the Shareholders hereby agrees that he shall, (A) at any meeting of the shareholders of Vuance (whether annual or special and whether or not an adjourned or postponed meeting), however called, and to the fullest extent permitted by law (i) when a meeting is held, appear at such meeting or otherwise cause the Covered Shares held by such Shareholder to be counted as present thereat for the purpose of establishing a quorum, and (ii) vote (or caused to be voted) in person or by proxy all Covered Shares held by such Shareholder in accordance with the instructions given to it by Sigma, and (B) otherwise use the voting power attached to his Covered Shares according to sigma’s instructions; provided always, that such voting or use of voting power is not in violation or contravention of any applicable law or Vuance’s governing documents.
 
     
 
    2.   Termination. This Agreement shall terminate upon the earliest of: (a) 180 days after the date hereof or the date upon which Sigma becomes the direct or indirect holder of more than 50% of Vuance’s issued and outstanding shares, whichever is later, (b) the date specified in a written agreement among the parties hereto to terminate this Agreement, and (c) written notice of termination of this Agreement by Sigma to the Shareholders, such earliest date being referred to herein as the “Termination Date”; provided, however, that the provisions set forth in Section 5 to 12 shall survive the termination of this Agreement; and further provided, however, that termination of this Agreement shall not prevent any party hereunder from seeking any remedies against any other party hereto for such party’s breach of any of the terms of this Agreement prior to termination.
 
 
 
 

 
 
 
    3.   Representations and Warranties of the Shareholders. Each of the Shareholders hereby represents and warrants to Sigma as follows:
 
 
  (a)
Ownership of Securities. As of the date of this Agreement, each of the Shareholders is the record and beneficial owner of, and has sole voting power and sole power of disposition with respect to, the Covered Shares, free and clear of liens, proxies, powers of attorney, voting trusts or agreements (other than any lien or proxy created by this Agreement).
 
       
  (b)
Binding Effect. Each of the Shareholders has all necessary power and capacity to enter into, execute and deliver this Agreement, to carry out his obligations hereunder and to consummate the transactions contemplated hereby. This Agreement has been duly executed and delivered by each of the Shareholders, and, assuming due authorization, execution and delivery by the other parties hereto, this Agreement is a legal, valid and binding obligation of the Shareholders, enforceable against the Shareholders in accordance with its terms.
 
       
  (c)
Consents; No Conflicts. The execution, delivery and performance by the Shareholders of this Agreement do not and will not (1) require any consent, approval, authorization or other order of, action by, filing with, or notification to, any governmental authority, (2) conflict with or violate any law or order applicable to the Shareholders or their assets, properties or businesses or (3) conflict with, result in any breach of, constitute a default (or event which with the giving of notice or lapse of time, or both, would become a default) under, require any consent under, or give to others any rights of termination, amendment, acceleration, suspension, revocation or cancellation of, any note, bond, mortgage or indenture, contract, agreement, lease, sublease, license, permit, franchise or other instrument or arrangement to which the Shareholders are a party.
 
 
 
    4.   Restriction on Transfer, Proxies. The Shareholders hereby agree, while this Agreement is in effect, not to (a) sell, transfer, pledge, encumber, assign or otherwise dispose of, or enter into any contract, option or other arrangement or understanding with respect to the sale, transfer, pledge, encumbrance, assignment or other disposition of, any of the Covered Shares, unless the transferee undertakes in writing to Sigma to be bound by the terms hereof; (b) grant any proxies or powers of attorney, deposit any Covered Shares into a voting trust or enter into a voting agreement with respect to any Covered Shares or (c) take any action that would make any representation or warranty of t he Shareholders contained herein untrue or incorrect or have the effect of preventing or disabling the Shareholders from performing their obligations under this Agreement.
 
     
 
    5.   Further Assurances. From time to time, at the other party’s request and without further consideration, each party hereto shall take such reasonable further action as may reasonably be necessary or desirable to consummate and make effective the transactions contemplated by this Agreement.
 
 
 
 

 
 
 
    6.   Amendment. This Agreement may not be amended except by an instrument in writing signed by all of the parties hereto.
 
     
 
    7.   Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be deemed given if delivered personally, telecopied (which is confirmed) or sent by overnight courier (providing proof of delivery) to the parties at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 7):
 

 
(a)
if to Sigma:
       
     
Sigmawaves Ltd.
8 Abba Ebban Avenue
Attention: Tsviya Trabelsi
Telephone: 099618888
Facsimile: 099566996
       
 
(b)
if to the Shareholders:
     
to their respective addresses as set forth on Schedule A.

 
    8.   Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby are not affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manne r in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.
 
     
 
    9.   Entire Agreement; Assignment. This Agreement (a) constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written and oral, between the parties hereto with respect to the subject matter hereof, and (b) shall not be assigned by operation of law or otherwise without the prior written consent of the other party hereto.
 
     
 
    10. Specific Performance. The parties hereto agree that irreparable damage would occur in the event any provision of this Agreement were not performed in accordance with the terms hereof and that the parties hereto shall be entitled to specific performance of the terms hereof, in addition to any other remedy at law or equity.
 
     
 
    11. Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Israel, disregarding the provisions concerning internal conflict of laws. All actions and proceedings arising out of or relating to this Agreement shall be heard and determined exclusively in any court of applicable jurisdiction sitting in Tel Aviv.
 

 
 

 
 
 
    12. Headings. The descriptive headings contained in this Agreement are included for convenience of reference only and shall not affect in any way the meaning or interpretation of this Agreement.
 
     
 
    13. Counterparts. This Agreement may be executed and delivered (including by facsimile transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same.
 
     
 
    14. Rights and Obligations Several. The rights and obligations of the Shareholders hereunder are several and not joint.
 

 
 

 
 
    IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.
 
 
SIGMAWAVES LTD.
     
 
By:
-s- signature
 
Name:
 
 
Title:
 

 
-s- avi landman
 
-s- eli rozen
 
AVI LANDMAN
 
Eli ROZEN
 
 
 

 
 
Schedule A
 
Eli Rozen -
 
Eli Rozen and Fiana Apter Rozen: 412,311 Shares
Adress: Tiran 3 Herzelia Israel
     
Avi Landman -
 
Avi Landman & Shoshana Landman 313,780 shares
Ashland Ltd - 85,000 shares
Adress: Hagdud haivri 99 Keriat Haim Israel
 
 


 
 
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