AGREEMENT AND PLAN OF MERGER

Agreement and Plan of Merger

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MV ACQUISITIONS LTD | OPHTHALMIC IMAGING SYSTEMS, | MEDIVISION MEDICAL IMAGING LTD.

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Title: AGREEMENT AND PLAN OF MERGER
Governing Law: New York Date: 3/27/2008
Industry: HTHEQP Law Firm: Troutman Sanders;Vedder Price;Smith Gambrell Sector: HEALTH

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AGREEMENT AND PLAN OF MERGER

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OPHTHALMIC IMAGING SYSTEMS,

MV ACQUISITIONS LTD.

and

MEDIVISION MEDICAL IMAGING LTD.

Dated as of March 25, 2008

TABLE OF CONTENTS

		Page
ARTICLE I	THE MERGER; CLOSING; EFFECTIVE TIME	3
Section 1.01	The Merger	3
Section 1.02	Closing	3
Section 1.03	Effective Time	3
ARTICLE II	GOVERNING DOCUMENTS	4
Section 2.01	Surviving Corporation Memorandum of Association and Articles of Association	4
Section 2.02	OIS Articles and Bylaws	4
ARTICLE III	OFFICERS AND DIRECTORS OF THE SURVIVING CORPORATION AND OIS	4
Section 3.01	Surviving Corporation Directors	4
Section 3.02	Surviving Corporation Officers	4
Section 3.03	OIS Officers	4
Section 3.04	OIS Directors	4
Section 3.05	Additional Actions	4
ARTICLE IV	EFFECT OF THE MERGER ON CAPITAL STOCK; CONVERSION OF CERTIFICATES	5
Section 4.01	Effect on Capital Stock	5
(a)	Conversion Shares	5
(b)	[Intentionally Omitted]	5
(c)	Merger Sub	5
(d)	MediVision	5
Section 4.02	Conversion of Shares	5
(a)	Conversion Fund	5
(b)	Surrender of Certificates; Payment	6
(c)	Distributions with Respect to Unconverted Shares	6
(d)	Transfers	7
(e)	Fractional Shares	7
(f)	Termination of Conversion Fund	7
(g)	Lost, Stolen, Destroyed or Unissued Certificates	7
(h)	Withholding Rights	8
(i)	Uncertificated MediVision Shares	8
Section 4.03	Adjustments	8
Section 4.04	Treatment of Stock Options and Warrants	9

TABLE OF CONTENTS

(continued)

		Page
(a)	Stock Options	9
(b)	Warrants	9
ARTICLE V	REPRESENTATIONS AND WARRANTIES	10
Section 5.01	Representations and Warranties of MediVision	10
(a)	Organization and Qualification	10
(b)	Capitalization	11
(c)	Corporate Authority; Approval and Fairness	13
(d)	Governmental Filings; No Violations; Etc.	14
(e)	MediVision Reports; Financial Statements	15
(f)	Absence of Certain Changes	18
(g)	Litigation and Liabilities	19
(h)	Employee Benefits	19
(i)	Employees	21
(j)	Compliance with Laws	22
(k)	Environmental Matters	23
(l)	Tax Returns and Payments	23
(m)	Tax Matters	25
(n)	Labor Matters	26
(o)	Intellectual Property	27
(p)	Insurance	29
(q)	Material Contracts and Governmental Contracts	30
(r)	Property	32
(s)	Encryption and Other Restricted Technology	33
(t)	Warranties/Product Liability	33
(u)	Product Certifications	33
(v)	Questionable Payments	34
(w)	Brokers and Finders	34
(x)	Bank Accounts	34
(y)	Completeness of Disclosure	34
Section 5.02	Representations and Warranties of OIS and Merger Sub	35
(a)	Organization, Good Standing and Qualification	35
(b)	Capitalization of Merger Sub	36
(c)	Capitalization of OIS	36
(d)	Corporate Authority; Approval and Fairness	37
(e)	Merger Sub Board Approval	38
(f)	Compliance; Permits	38
(g)	Governmental Filings; No Violations; Etc	39
(h)	OIS Reports; Financial Statements	40
(i)	Absence of Certain Changes	42
(j)	Brokers and Finders	42

TABLE OF CONTENTS

(continued)

		Page
(k)	Litigation	42
(l)	OIS Employee Matters and Benefit Plans	43
(m)	Employment Matters	43
(n)	Intellectual Property	43
(o)	Taxes	46
(p)	Capital Adequacy	47
(q)	Environmental Matters	47
(r)	Restriction on Business Activities	47
(s)	Required OIS Stockholder Vote	47
(t)	Insurance	47
(u)	Material Contracts	48
(v)	Property	49
(w)	Encryption and Other Restricted Technology	49
(x)	Warranties/Product Liability	50
(y)	Product Certifications	50
(z)	Questionable Payments	50
(aa)	Completeness of Disclosure	50
ARTICLE VI	COVENANTS	50
Section 6.01	Interim Operations	50
(a)	MediVision	50
(b)	OIS	53
Section 6.02	Acquisition Proposals	56
(a)	No Solicitation or Negotiation	56
(b)	No Change in Recommendation; No Alternative Acquisition Agreement	56
(c)	Certain Permitted Disclosure	57
(d)	Notice	57
Section 6.03	Information Supplied	57
(a)	Filing of S-4	57
(b)	No Untrue Statement, etc	58
Section 6.04	Merger Proposal	58
(a)	Proposal	58
(b)	Certain Notices	58
Section 6.05	MediVision Shareholders Meeting	59
Section 6.06	OIS and Merger Sub Shareholders Meetings	60
(a)	OIS Stockholders Meeting	60
(b)	Merger Sub Shareholder Meeting	60

iii

TABLE OF CONTENTS

(continued)

		Page
Section 6.07	Filings; Other Actions; Notification Comfort Letters	60
(a)	Notification Letters	60
(b)	Best Efforts	60
(c)	Governmental Entities	61
(d)	Information	61
(e)	Communications with Governmental Entities, etc	61
(f)	Third-Party Consents	61
Section 6.08	Access	61
Section 6.09	Publicity	62
Section 6.10	Expenses	62
Section 6.11	Other Actions by MediVision and OIS Takeover Statute	62
(a)	Section 16 Matters	62
Section 6.12	Israeli and Belgian Approvals	63
(a)	Government Filings	63
(b)	Legal Proceedings	63
(c)	Israeli Tax Rulings	63
(d)	Israeli Securities Matters	65
(e)	Belgian Securities Matters	65
(f)