First Amendment to Series A Warrant between Inksure Technologies, Inc. and Smithfield Fiduciary LLC

Summary

This amendment modifies the Series A Warrant originally issued by Inksure Technologies, Inc. to Smithfield Fiduciary LLC. The number of shares available under the warrant is reduced from 3,570,337 to 2,183,000, and the exercise price is lowered from $0.60 to $0.15 per share. Additional changes are made to certain calculation provisions and one section is deleted. All other terms of the original warrant remain unchanged.

EX-4.1 2 exhibit_4-1.htm 8-K

 EXHIBIT 4.1 FIRST AMENDMENT TO SERIES A WARRANT FIRST AMENDMENT dated JANUARY 19, 2010 to Series A Warrant ("Series A Warrant") dated April 8, 2008 issued by Inksure Technologies, Inc. ("Issuer") to Smithfield Fiduciary LLC ("Holder") for 3,570,337 shares of Common Stock of Issuer. FOR VALUABLE CONSIDERATION, the receipt and sufficiency of which is hereby acknowledged, Issuer and Holder agree to modify the Series A Warrant as follows: 1. The number of shares of Common Stock as to which the Series A Warrant is exercisable is hereby reduced from 3,570,337 to 2,183,000 shares. 2. The Exercise Price, as defined in Section 1(b) of the Series A Warrant is hereby decreased from $0.60 to $0.15, subject to adjustment for events occurring hereinafter as provided in the Series A Warrant. 3. Section 2(a) of the Series A Warrant is hereby amended by inserting after the words "equal to" the word "83(1/3)% of". 4. Section 4 is deleted in its entirety. 5. Except as expressly modified hereby, the Series A Warrant remains in full force and effect and unmodified. INKSURE TECHNOLOGIES, INC. By:/s/ Gadi Peleg ----------------- Gadi Peleg Chairman of the Board SMITHFIELD FIDUCIARY LLC By: Highbridge Capital Management, LLC, its Trading Manager By:/s/ Mark J. Vanacore ----------------------- Mark J. Vanacore