UTA CAPITAL LLC 100 Executive Drive, Suite 330 West Orange, New Jersey 07052

100 Executive Drive, Suite 330

West Orange, New Jersey 07052

 

August 16, 2011

Lapis Technologies, Inc.

70 Kinderkamack Road

Emerson, New Jersey 07630

 

Re: Note and Warrant Purchase Agreement

 

Dear David:

 

We refer to the Note and Warrant Purchase Agreement dated as of July 12, 2011 (the “Agreement”) by and between Lapis Technologies, Inc. and UTA Capital LLC. This is to confirm our mutual understanding and agreement that the date of August 15, 2011 referred to in Section 14.1 (Termination) of the Agreement is hereby changed to August 31, 2011.

 

All other terms of the Agreement remain in full force and effect.

 

Please confirm your agreement to the above by executing this letter agreement.

[Signature page follows]

 

 

	Sincerely,
	UTA CAPITAL LLC
	By:	YZT Management LLC, its Managing Member
	By:	/s/ Udi Toledano
	Name:	Udi Toledano
	Title:	Managing Member

Acknowledged and Agreed:

LAPIS TECHNOLOGIES, INC
By:	/s/ David Lucatz
Name:	David Lucatz
Title:	President and Chief Executive Officer