SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Reznik Paz Nevo Trusts Ltd.

November 11^th, 2009

To:

Israeli Securities Authority	Tel Aviv Stock Exchange
www.isa.gov.co.il	www.tase.co.il

Re: Reporting on the results of the vote which took place at the general meeting of holders of
Series A Debentures of Top Image Systems held on November 4^th, 2009

Reznick, Paz, Nevo Trustees Inc., the trustee for debentures (series A) issued by Top Image Systems Ltd. (hereinafter: “The Trustee”; “The Company”), is hereby pleased to report the results of a vote taken at the general meeting of debentures holders held on Wednesday, November 4^th, 2009 (hereinafter: “The Meeting”). The vote was regarding a decision proposal on the agenda, including appointing a representative body for the holders to take part in discussions with The Company as well as methods of financing The Trustee and the representative body, all according to the specifications detailed in the summons published in the Magna system (reference 2009-02-267087). Votes were received by The Trustee until Tuesday, November 10^th, 2009 at 6:00 p.m.

The meeting was attended by holders of debentures (series A) in a total of 31,101,525 NIS (nominal value), which are a total of 70.10% of the total debentures (series A) in circulation.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	EARNING RELEASE

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

SIGNATURES

        The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.

Date: April 26, 2009

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE

BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE

BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE

BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

Top Image Systems announces the election of Lyron Bentovim to its Board of Directors

Tel Aviv, Israel, November 17, 2008 – Top Image Systems, Ltd. (TIS) (NASDAQ: TISA, TASE: TISA), the leading innovator of intelligent document recognition, today announced the addition of Lyron Bentovim to its Board of Directors. William M. Landuyt and Yehezkel Yeshurun will be departing from the Board of Directors after serving for over four years each.

Mr. Bentovim is currently a Portfolio Manager for SKIRITAI Capital LLC, an investment advisor based in San Francisco. He brings with him over 15 years of industry experience, including his experience as a member of the board of directors at Three-Five Systems, Sunrise Telecom, Argonaut Technologies, RTW inc., and Ault inc. Prior to SKIRITAI Capital LLC, Mr. Bentovim served as the President, COO, and co-founder of WebBrix Inc., an innovative retail channel aiming to provide physical space and services for online retailers. Additionally, Mr. Bentovim spent time as a Senior Engagement Manager with strategy consultancies USWeb/CKS, the Mitchell Madison Group and McKinsey & Company. As a Senior Engagement Manager, Mr. Bentovim advised numerous Fortune 1000 companies in the Financial Services, Insurance, Retail, and Manufacturing sectors.

During his consulting career, Mr. Bentovim assisted companies in exploring and developing solutions in the areas of strategic planning and operational improvements. Specifically, he supported client companies in evaluating new market opportunities, assessing risk, formulating strategies and driving implementation efforts. Mr. Bentovim is experienced in evaluating Global 500 organizations and implementing strategies designed to streamline processes, reduce inefficiencies and achieve significant overhead reductions.

“Top Image Systems has proven itself to be a true leader in the input management space,” said Bentovim. “I’m looking forward to being part of such a strong company; providing sound oversight and direction to help TIS create value through the pursuit of additional revenue and market share in 2009.”

Mr. Bentovim has a MBA from Yale School of Management and a Law degree from the Hebrew University in Jerusalem. He currently lives in New Jersey with his wife and two children.

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Dr. Ido Schechter, Chief Executive Officer of TIS commented, “We are extremely pleased to have Lyron Bentovim join TIS’s Board of Directors. Mr. Bentovim brings with him years of experience and we are confident he will be a strong asset to our board and the continued growth of TIS. We would also like to thank William Landuyt and Yehezkel Yeshurun for their dedication and continued support over the past few years.”

About Top Image Systems
Top Image Systems (TIS) is a leading innovator of enterprise solutions for managing and validating content entering organizations from various sources. Whether originating from mobile, electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organization. TIS’s eFLOW Unified Content Platform is a common platform for the company’s solutions. TIS markets its platform in more than 40 countries through a multi-tier network of distributors, system integrators, value-added resellers as well as strategic partners. Visit the company’s website www.TopImageSystems.com for more information.

Company Contact
Adi Bar-Lev (adi@TopImageSystems.com)
Director of Public and Investor Relations
Top Image Systems Ltd.
Tel: +972 3 767 9114

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SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	EARNING RELEASE

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	EARNING RELEASE
Top Image Systems Reports Second Quarter 2008 Results

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

FOR IMMEDIATE RELEASE	BUSINESS NEWS

SIGNATURES

        The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.

Date: May 1, 2008

SIGNATURES

        The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.

Date: April 8, 2008

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Second Quarter 2007 Results: Top Image Systems Surpassed $6 million Revenue Mark

TIS returns to profitability

Tel Aviv, Israel – August 8, 2007 – Top Image Systems, Ltd. (NASDAQ: TISA, TASE: TISA) (“TIS”), the leading innovator of data capture solutions, today announced its financial results for the second quarter, ended June 30, 2007.

Second Quarter 2007 Results
Revenues for the second quarter reached $6.1 million, an increase of 24% from the second quarter of last year and an increase of 51% compared with the prior quarter. 56% of second quarter revenues were generated from products and 44% from services.

Operating profit for the second quarter reached $65 thousand, compared with $147 thousand for the second quarter of 2006 and a loss of $1.4 million in the prior quarter.

Non-GAAP net income for the second quarter totaled $109 thousand, compared to $406 thousand in the second quarter of 2006. Non GAAP basic and fully diluted net earnings per share in the second quarter totaled $0.012 compared with $0.032 in the second quarter of 2006.

Non-GAAP net income excludes stock option compensation and amortization of intangible acquired assets which amounted to $206 thousand and $121 thousand in the second quarter of 2007 and 2006, respectively. A reconciliation between net income on a GAAP basis and a Non-GAAP basis is included after the Statement of Operations attached to this press release.

On a GAAP basis, net loss for the second quarter was $97 thousand compared to net income of $285 thousand in the second quarter of last year, and a net loss of $1.4 million in the prior quarter. GAAP basic and fully diluted net loss per share in the second quarter totaled $0.011. This is compared to a basic and fully diluted net earning per share of $0.032 in the second quarter of 2006, and basic and fully diluted net loss per share of $0.157 in the prior quarter.

“We are delighted to present record second-quarter revenues. We had a weak start to the current year, but we are now back on track and for the first time, we crossed the $6 million revenue mark,” commented Dr. Ido Schechter, CEO of TIS. “We are still encountering some difficulties in our Japanese operation, and we have therefore implemented some managerial changes. We expect that these changes along with the ongoing close attention of top management, will allow us to improve our performance in this vital marketplace.”

Dr. Schechter continued, “During the second quarter, we acquired a 51% stake in Asiasoft. Through this acquisition, we have become the largest EDM technology provider in the APAC region, which is the fastest growing imaging market. The integration is progressing well and we expect our third quarter performance to reflect this. Our other recent acquisition, CPL, has been fully integrated into TIS, three months ahead of schedule. Our UK operation is now stronger than ever and this is the first time we have ever generated quarterly revenues of over $2 million from this country. We have established a strong team and we are building a solid sales pipeline to ensure a growing revenue stream from this market. Armed with a rich, complete offering of superior technology and professional services, our team has significantly improved access to the market and has already succeeded in closing several major deals.”

Dr. Schechter concluded, “Looking ahead, traditionally, the third quarter is seasonally a weak one. Nevertheless, we believe that all parts of our business will continue to grow in the third quarter. Including the two recent acquisitions, we expect to have a revenue run rate of over $7.5 million in the third quarter. Our business fundamentals remain solid, our pipeline is strong and we remain confident in our improved market position and potential.”

Conference Call
TIS management will host a conference call today, August 8, 2007, at 8:30am EST (5:30am Pacific Time, 1:30pm UK Time, 3:30pm Israel Time) to review the second quarter 2007 financial results and other corporate events.

Dr. Ido Schechter, CEO, and Arie Rand, CFO, will be on-line to discuss these results and take part in a question and answer session.

The call can be accessed by dialing:
US Dial-in Number: 1 888 281 1167
UK Dial-in Number: 0 800 917 5108
ISRAEL Dial-in Number: 03 918 0609
INTERNATIONAL Dial-in Number: +972 3 918 0609

Participants are asked to call the number approximately 10 minutes before the conference call begins.

For those unable to listen to the live call, a replay of the call will be available for three months from the day after the call in the investor relations section of Top Image Systems’ website, at: www.topimagesystems.com

About Top Image Systems
Top Image Systems is a leading innovator of enterprise solutions for managing and validating content entering organizations from various sources. Whether originating from mobile, electronic, paper or other sources, TIS solutions deliver the content to applications that drive the organization. TIS’s eFLOW Unified Content Platform is a common platform for the company’s solutions. TIS markets its platform in more than 30 countries through a multi-tier network of distributors, system integrators, value added resellers as well as strategic partners. Visit the company’s website www.topimagesystems.com for more information.

Caution Concerning Forward-Looking Statements
Certain matters discussed in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, particularly statements regarding future operating or financial performance. Words such as “will,” “expects,” “anticipates,” “estimates,” “intends,” “believes,” “plans” and words and terms of similar substance in connection with any discussion of future operating or financial performance identify forward-looking statements. These statements are based on management’s current expectations or beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks in product development plans and schedules, rapid technological change, changes and delays in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of TIS and its competitors, risk of operations in Israel, government regulation, dependence on third parties to manufacture products, quarterly fluctuations in sales of products in the Data Capture market (where in general the fourth quarter is the strongest and the first quarter is the weakest), TIS’ ability to successfully integrate businesses it acquires, litigation (including litigation over intellectual property rights), general economic conditions and other risk factors detailed in the Company’s most recent annual report on Form 20-F and other subsequent filings with the United States Securities and Exchange Commission. We are under no obligation to, and expressly disclaim any obligation to, update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.

Date: May 10, 2007

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SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

          The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.

Date:April 2, 2007

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.