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EXHIBIT 10.3 EXECUTION VERSION [*****] Text omitted for confidential treatment.
The redacted information has been excluded because it is (i) not material and
(ii) would likely cause competitive harm to the registrant if publicly
disclosed. SECURITIES PURCHASE AGREEMENT BY AND AMONG CORAM MATERIALS CORP.,
MILLER PLACE DEVELOPMENT LLC, A.B. OF SAYVILLE, LTD., MLFF REALTY CORP., BSLH
REALTY CORP., MICHAEL VIGLIAROLO, LORRAINE VIGLIAROLO and USC ATLANTIC, INC.
_____________________________ Dated February 24, 2020 302010047 v18

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TABLE OF CONTENTS Page ARTICLE I DEFINITIONS
.............................................................................................................
1 Section 1.01 Certain Definitions
............................................................................................
1 Section 1.02 Terms Defined Elsewhere in this Agreement
.................................................... 1 ARTICLE II PURCHASE AND
SALE
...........................................................................................
3 Section 2.01 Purchase and Sale
..............................................................................................
3 Section 2.02 Consideration
.....................................................................................................
3 Section 2.03 Transactions to be Effected at the Closing; Closing Deliveries
........................ 4 Section 2.04 Closing Purchase Price Adjustment
................................................................... 6 Section
2.05 Closing
...............................................................................................................
9 Section 2.06 Withholding Tax
................................................................................................
9 ARTICLE III REPRESENTATIONS AND WARRANTIES REGARDING THE COMPANIES
....................................................................................................
9 Section 3.01 Organization, Authority and Qualification of the Companies
........................... 9 Section 3.02 Capitalization
...................................................................................................
10 Section 3.03 Subsidiaries
......................................................................................................
10 Section 3.04 No Conflicts; Consents
....................................................................................
10 Section 3.05 Financial Statements
........................................................................................
10 Section 3.06 Undisclosed Liabilities
....................................................................................
11 Section 3.07 Absence of Certain Changes, Events and
Conditions...................................... 11 Section 3.08 Material
Contracts
...........................................................................................
13 Section 3.09 Title to Assets; Real Property
.......................................................................... 15
Section 3.10 Sufficiency of Assets
.......................................................................................
16 Section 3.11 Intellectual Property Assets
............................................................................. 16
Section 3.12 Inventory; Reserves
.........................................................................................
17 Section 3.13 Customers and Suppliers
.................................................................................
18 Section 3.14 Insurance
..........................................................................................................
18 Section 3.15 Legal Proceedings; Orders
...............................................................................
19 Section 3.16 Compliance with Laws; Permits
...................................................................... 19
Section 3.17 Environmental Matters
....................................................................................
20 Section 3.18 Employee Benefit Matters
...............................................................................
21 i 302010047 v18

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Section 3.19 Employment Matters
.......................................................................................
23 Section 3.20 Taxes
................................................................................................................
25 Section 3.21 Product Warranties
..........................................................................................
26 Section 3.22 Performance Bonds
..........................................................................................
27 Section 3.23 Accounts with Banks and Brokerages; Powers of Attorney
............................ 27 Section 3.24 Absence of Certain Business
Practices ............................................................ 27
Section 3.25 Affiliate Interests
.............................................................................................
27 Section 3.26 Capital Expenditures
........................................................................................
27 Section 3.27 Indebtedness
....................................................................................................
27 Section 3.28
Brokers.............................................................................................................
27 Section 3.29 Full Disclosure
.................................................................................................
28 ARTICLE IV REPRESENTATIONS AND WARRANTIES REGARDING SELLERS ............. 28
Section 4.01 Authority of Seller
...........................................................................................
28 Section 4.02 Title to Securities
.............................................................................................
28 Section 4.03 No Conflicts
.....................................................................................................
28 Section 4.04
Brokers.............................................................................................................
29 Section 4.05 Legal Proceedings
............................................................................................
29 Section 4.06 Tax Matters
......................................................................................................
29 Section 4.07 Disclaimer.
.......................................................................................................
29 ARTICLE V REPRESENTATIONS AND WARRANTIES OF BUYER
.................................... 29 Section 5.01 Organization and Authority
of Buyer .............................................................. 29
Section 5.02 No Conflicts; Consents
....................................................................................
30 Section 5.03
Brokers.............................................................................................................
30 Section 5.04 Legal Proceedings
............................................................................................
30 Section 5.05 Investment Purpose
..........................................................................................
30 ARTICLE VI COVENANTS
.........................................................................................................
31 Section 6.01 Confidentiality
.................................................................................................
31 Section 6.02 Non-competition; Non-solicitation.
................................................................. 31 Section
6.03 Governmental Approvals and Consents
.......................................................... 33 Section 6.04 Books
and Records
..........................................................................................
34 Section 6.05 Use of Name
....................................................................................................
34 Section 6.06 Public Announcements
....................................................................................
35 Section 6.07 Further Assurances; Litigation Cooperation
.................................................... 35 Section 6.08 Performance
Bond.
..........................................................................................
35 ii 302010047 v18

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Section 6.09 Insurance.
.........................................................................................................
36 Section 6.10 Termination of Related Party Agreements.
..................................................... 36 Section 6.11 401(k)
Plan Termination.
.................................................................................
37 Section 6.12 Bank Account Transition.
................................................................................
37 ARTICLE VII TAX MATTERS
....................................................................................................
37 Section 7.01 Tax Covenants
.................................................................................................
37 Section 7.02 No Existing Tax Sharing Agreements
............................................................. 38 Section 7.03
Tax Indemnification
........................................................................................
38 Section 7.04 Straddle Period
................................................................................................
38 Section 7.05 Contests
...........................................................................................................
38 Section 7.06 Cooperation and Exchange of Information
...................................................... 39 Section 7.07 Tax
Treatment of Indemnification Payments
.................................................. 39 Section 7.08 Survival
............................................................................................................
39 Section 7.09 Overlap
............................................................................................................
39 Section 7.10 Section 338(h)(10) Elections
........................................................................... 39
Section 7.11 Purchase Price Allocation
................................................................................
40 ARTICLE VIII INDEMNIFICATION
..........................................................................................
40 Section 8.01 Survival
............................................................................................................
40 Section 8.02 Indemnification by Sellers
...............................................................................
41 Section 8.03 Indemnification by Buyer
................................................................................
42 Section 8.04 Certain Limitations
..........................................................................................
43 Section 8.05 Indemnification Procedures
............................................................................. 46
Section 8.06 Payments
..........................................................................................................
49 Section 8.07 Insured Claims
.................................................................................................
49 ARTICLE IX MISCELLANEOUS
................................................................................................
50 Section 9.01 Expenses
..........................................................................................................
50 Section 9.02 Notices
.............................................................................................................
50 Section 9.03 Interpretation
...................................................................................................
52 Section 9.04 Headings
..........................................................................................................
52 Section 9.05 Severability
......................................................................................................
53 Section 9.06 Entire Agreement
.............................................................................................
53 Section 9.07 Successors and Assigns
...................................................................................
53 Section 9.08 No Third Party Beneficiaries
........................................................................... 53
Section 9.09 Amendment and Modification; Waiver
........................................................... 53 iii 302010047 v18

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Section 9.10 Governing Law; Submission to Jurisdiction
.................................................... 53 Section 9.11 WAIVER OF
JURY TRIAL
........................................................................... 54
Section 9.12 Specific Performance
.......................................................................................
54 Section 9.13
Counterparts.....................................................................................................
54 Annex A – Certain Definitions Exhibit A – Sellers Exhibit B – Form of
Consulting Agreement Exhibit C – Form of Offer Letter Exhibit D – Form of Seller
Release Exhibit E – Form of Seller Affidavit Exhibit F – Form of Spousal Consent
Exhibit G – Purchase Price Allocation Exhibit F – Prepaid Expenses Schedule I –
Resignations Schedule II – Net Trade Working Capital Principles Schedule III –
Excluded Items Schedule IV – Closing Indebtedness iv 302010047 v18

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SECURITIES PURCHASE AGREEMENT This Securities Purchase Agreement (this
“Agreement”), dated as of February 24, 2020, is entered into by and among Coram
Materials Corp., a New York corporation (“Coram”), Miller Place Development LLC,
a New York limited liability company (“MPD LLC”), A.B. of Sayville, Ltd., a New
York corporation (“A.B. of Sayville”), MLFF Realty Corp., a New York corporation
(“MLFF”), and BSLH Realty Corp., a New York corporation (“BSLH,” and
collectively with Coram, MPD LLC, A.B. of Sayville and MLFF, the “Companies” and
each, a “Company”), Michael Vigliarolo, an individual resident of the State of
New York (“Michael”), Lorraine Vigliarolo, an individual resident of the State
of New York (“Lorraine”) (each of Michael and Lorraine, a “Seller” and,
collectively, “Sellers”), and USC Atlantic, Inc., a Delaware corporation
(“Buyer”). RECITALS WHEREAS, the Companies collectively operate a sand and stone
quarry business located in Suffolk County, New York; WHEREAS, Sellers together
own all of the issued and outstanding membership interests and capital stock, as
applicable (collectively, the “Securities”), of each of the Companies; and
WHEREAS, Sellers wish to sell to Buyer, and Buyer wishes to purchase from
Sellers, the Securities, subject to the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
hereinafter set forth and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as
follows: ARTICLE I DEFINITIONS Section 1.01 Certain Definitions. For purposes of
this Agreement, capitalized terms used and not otherwise defined herein have the
meanings ascribed to such terms in Annex A hereto. Section 1.02 Terms Defined
Elsewhere in this Agreement. For purposes of this Agreement, the following terms
have the meanings set forth on the page indicated: A.B. of
Sayville.............................................................................................................................................
1 Accounts Payable
..........................................................................................................................................
6 Accounts Receivable
.....................................................................................................................................
6 Adjustment Amount
......................................................................................................................................
8 Agreement
.....................................................................................................................................................
1 Balance Sheet
..............................................................................................................................................
11 Balance Sheet Date
.....................................................................................................................................
11 Benefit Plan
.................................................................................................................................................
21 BSLH
............................................................................................................................................................
1 Buyer
.............................................................................................................................................................
1 Buyer Deductible Exclusions
......................................................................................................................
43 Buyer Fundamental Representations
..........................................................................................................
41 Buyer Indemnitees
......................................................................................................................................
41 Cash Deposit
...............................................................................................................................................
35 1 302010047 v18

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Class V Allocation Schedule
......................................................................................................................
40 Closing
..........................................................................................................................................................
9 Closing
Date..................................................................................................................................................
9 Closing Purchase Price
.................................................................................................................................
3 Closing Statement
.........................................................................................................................................
6 Collective Bargaining Agreement
...............................................................................................................
23
Companies.....................................................................................................................................................
1 Company
.......................................................................................................................................................
1 Company Fundamental Representations
.....................................................................................................
40 Company Indebtedness
...............................................................................................................................
27 Company Personal Property
.......................................................................................................................
16 Consulting Agreement
..................................................................................................................................
4 Coram
............................................................................................................................................................
1 Deductible
...................................................................................................................................................
43 Direct Claim
................................................................................................................................................
48 Dispute Notice
..............................................................................................................................................
7 Disputed Item
................................................................................................................................................
7 DOL
............................................................................................................................................................
21 Effective Time
..............................................................................................................................................
9 Environmental Indemnification Matters
.....................................................................................................
44 Environmental Indemnification Provisions
................................................................................................
49 Environmental Policy
..................................................................................................................................
36 Environmental Representation
....................................................................................................................
41 Estimated Closing Indebtedness
...................................................................................................................
6 Estimated Transaction Expenses
...................................................................................................................
6 Excluded Assets
............................................................................................................................................
5 Final Closing Statement
................................................................................................................................
7 Financial Statements
...................................................................................................................................
11 FLSA
...........................................................................................................................................................
24 Indemnified Party
........................................................................................................................................
46 Indemnifying Party
.....................................................................................................................................
46 Indemnity Payment
.....................................................................................................................................
46 Independent Accountant
...............................................................................................................................
7 Insurance Escrow Amount
..........................................................................................................................
36 Insurance Policies
.......................................................................................................................................
18 Insured Indemnification Claim
...................................................................................................................
49 IT Assets
.....................................................................................................................................................
17 Landfill Indemnification Matters
................................................................................................................
44 Letter of Credit
............................................................................................................................................
35 Licensed Intellectual Property
....................................................................................................................
14 Lorraine
.........................................................................................................................................................
1 Material Contracts
.......................................................................................................................................
13 Material Customers
.....................................................................................................................................
18 Material Intellectual Property
.....................................................................................................................
16 Material Security Breach
............................................................................................................................
17 Material Suppliers
.......................................................................................................................................
18 Michael
.........................................................................................................................................................
1 Mineral Rights
............................................................................................................................................
16 MLFF
............................................................................................................................................................
1 MLRL Permit
..............................................................................................................................................
35 Non-Compete Parties
..................................................................................................................................
31 2 302010047 v18

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NYSDEC
....................................................................................................................................................
35 Offer Letter
...................................................................................................................................................
4 Ordinary Course of Business
......................................................................................................................
11 Outstanding Consents
.................................................................................................................................
33 Performance Bonds
.....................................................................................................................................
27 PLL Policy
..................................................................................................................................................
19 Post-Closing Payments
.................................................................................................................................
3 Privacy Laws
...............................................................................................................................................
17 Purchase Price
...............................................................................................................................................
4 Qsub
............................................................................................................................................................
25 Qualified Benefit Plan
.................................................................................................................................
21 Real Property
..............................................................................................................................................
15 Related Party Matters
..................................................................................................................................
27 Restricted Period
.........................................................................................................................................
31 RMF
............................................................................................................................................................
36 S Corporations
............................................................................................................................................
25 Section 338(h)(10) Elections
......................................................................................................................
39 Section 338(h)(10) Forms
...........................................................................................................................
39 Securities
.......................................................................................................................................................
1 Seller
.............................................................................................................................................................
1 Seller Deductible Exclusions
......................................................................................................................
43 Seller Fundamental Representations
...........................................................................................................
40 Seller Indemnitees
.......................................................................................................................................
42 Seller Release
................................................................................................................................................
4 Sellers
............................................................................................................................................................
1 Straddle Period
............................................................................................................................................
38 Target Net Trade Working Capital
...............................................................................................................
6 Tax Claim
...................................................................................................................................................
38 Terminated 401(k) Plan
................................................................................................................................
6 Third Party Claim
.......................................................................................................................................
47 Trade Working Capital
.................................................................................................................................
6 Union
..........................................................................................................................................................
23 ARTICLE II PURCHASE AND SALE Section 2.01 Purchase and Sale. Subject to the
terms and conditions set forth herein, at the Closing, each Seller shall sell to
Buyer, and Buyer shall purchase from each Seller, the Securities, as set forth
next to such Seller’s name on Exhibit A hereto, in each case, free and clear of
any and all Encumbrances, for the consideration specified in Section 2.02.
Section 2.02 Consideration. As consideration for the purchase and sale of the
Securities and subject to the terms and conditions of this Agreement, at the
Closing, Buyer shall pay to each Seller: (a) an amount in cash equal to one-half
of the Closing Purchase Price plus (b) an amount in cash equal to $1,000,000,
one-half of which shall be payable on the first anniversary of the Closing Date
and one-half of which shall be payable on the second anniversary of the Closing
Date (the payments described in this clause (b) of this Section 2.02, the
“Post-Closing Payments” ). The “Closing Purchase Price” shall be calculated as
follows: (i) $140,000,000, minus (ii) the aggregate amount of the Estimated
Closing Indebtedness, minus (iii) the aggregate amount of the Estimated
Transaction Expenses. The Closing Purchase Price shall be subject to further
adjustment following the Closing pursuant to Section 2.04, and the Closing
Purchase 3 302010047 v18

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Price, as so adjusted, together with the Post-Closing Payments, are referred to
herein collectively as the “Purchase Price”. Section 2.03 Transactions to be
Effected at the Closing; Closing Deliveries. (a) At the Closing, Buyer will pay
all Closing Indebtedness and Transaction Expenses set forth on, and in
accordance with, the Payoff Letters, which Sellers shall cause to be delivered
to Buyer no later than three (3) Business Days prior to the anticipated Closing
Date. (b) At the Closing, Buyer shall deliver to each Seller (or, in the case of
clause (iii), the Sellers collectively): (i) such Seller’s share of the Closing
Purchase Price, determined in accordance with Section 2.02, by wire transfer of
immediately available funds to the account designated by such Seller to Buyer in
writing no later than two (2) Business Days prior to the Closing Date; (ii) an
executed counterpart to a Consulting Agreement between Buyer (or an Affiliate of
Buyer) and such Seller, in substantially the form attached hereto as Exhibit B
(each, a “Consulting Agreement” ), duly executed by Buyer; and (iii) an executed
counterpart to an offer letter to Michael Vigliarolo, Jr. describing the
material terms and conditions of employment by Buyer (or an Affiliate of Buyer),
in substantially the form attached hereto as Exhibit C (the “Offer Letter” ),
duly executed by Buyer. (c) At the Closing, each Seller (or, in the case of
clauses (ii), (iii), (vii), (x) and (xi), the Sellers, collectively) shall
deliver to Buyer: (i) stock or membership interest certificates, as applicable,
evidencing the Securities owned by such Seller (as reflected on Exhibit A), free
and clear of any and all Encumbrances, duly endorsed in blank or accompanied by
stock powers or other instruments of transfer duly executed in blank; (ii) an
executed counterpart to the Seller Release, in substantially the form attached
hereto as Exhibit D (the “Seller Release”), duly executed by such Seller; (iii)
duly and properly executed Forms 8023 evidencing the Section 338(h)(10)
Elections, each duly executed by each Seller; (iv) an affidavit of non-foreign
status from each Seller that complies with the Treasury Regulations under
Section 1445 of the Code; (v) affidavits of each Seller regarding certain
matters related to the Real Property, in substantially the form attached hereto
as Exhibit E; (vi) such documents and certificates as the title company selected
by Buyer may reasonably require in order to issue at the Closing one or more
ALTA pro forma owner’s title insurance policy(ies) in a form reasonably
acceptable to Buyer and in an amount to be determined by Buyer, insuring the
applicable Company’s Real Property in which it holds fee simple title, together
with mechanic’s lien coverage and such endorsements (including endorsements for
non- deed transfers) as Buyer may reasonably request, in each case subject to no
exceptions other than 4 302010047 v18

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[exhibit103eaglesecuritie010.jpg]
the Title Exceptions and the Permitted Encumbrances; provided, however, that the
issuance of such title insurance policy(ies) shall not be a condition to Closing
hereunder; (vii) a spousal consent of the spouse of each Seller, in
substantially the form attached hereto as Exhibit F; (viii) an executed
counterpart to such Seller’s Consulting Agreement, duly executed by such Seller;
(ix) an executed counterpart to the Offer Letter, duly executed by Michael
Vigliarolo, Jr.; and (x) any documentation reasonably required to transfer such
Seller’s cell phone number and, in the case of Lorraine, Lorraine’s personal
computer (collectively, the “Excluded Assets”), and any and all associated
Liabilities (whether arising prior to, on or after the Closing), from the
applicable Company to such Seller, in form and substance reasonably acceptable
to Buyer. (d) At or prior to the Closing, the Sellers shall cause the Companies
to deliver to Buyer: (i) written resignations, effective as of the Closing Date,
of the members or directors, as applicable, and officers of the Companies set
forth on Schedule I, each in form and substance reasonably acceptable to Buyer;
(ii) originals or copies of all consents, waivers, approvals or notices set
forth, or required to be set forth, on Section 3.04 or Section 4.03 of the
Disclosure Schedules, each in form and substance reasonably acceptable to Buyer;
(iii) fully executed Payoff Letters and any and all instruments and documents
necessary or desirable to release any and all Encumbrances on the Securities and
on any assets, properties, stock or equity, or other rights of the Companies
with respect to the Indebtedness of the Companies, including recordable releases
of all deeds of trust and/or mortgages (and any related documents, assignments
of leases and rents, collateral assignments, and/or similar instruments and
documents) and UCC financing statement amendments (termination statements) with
respect thereto, each in form and substance reasonably acceptable to Buyer; (iv)
an executed counterpart to each Seller Release, duly executed by each Company;
(v) any books or records of the Companies that are not located on the Real
Property; and (vi) certificates dated as of the Closing Date, duly signed by an
officer of each Company, in such officer’s capacity as an officer and not in
such officer’s individual capacity: (A) certifying that attached thereto are
true, correct and complete copies of such Company’s Organizational Documents,
and any amendments thereto, in effect at the Closing; (B) attaching a long-form
certificate of status and good standing issued as of a date not more than five
(5) days prior to the anticipated Closing Date, duly certified by the Secretary
of State of the State of New York; (C) certifying that attached thereto are
true, correct and complete copies of resolutions duly adopted by the members or
directors (or comparable governing body), as applicable, of such Company
authorizing and approving the execution, delivery and performance of the
Transaction 5 302010047 v18

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[exhibit103eaglesecuritie011.jpg]
Documents to which such Company is a party and the consummation of the
transactions contemplated thereby; (D) certifying the names of the officers and
members or directors (or comparable governing body), as applicable, of such
Company in office immediately prior to the Closing; and (E) certifying the
incumbency, signature and authority of the officers of such Company authorized
to execute, deliver and perform the Transaction Documents to which such Company
is a party and all other documents, instruments or agreements contemplated
thereby to which such Company is a party; and (e) At or prior to the Closing,
Sellers shall have caused each Company, as applicable, to adopt appropriate
resolutions and to take all other necessary action to terminate the Benefit Plan
set forth on Section 2.03(e) of the Disclosure Schedules (such plan, as so
terminated, the “Terminated 401(k) Plan” ), effective immediately prior to the
Closing Date and contingent on the Closing. Except as set forth in this Section
2.03(e), nothing herein is intended, nor shall it be deemed to, amend any
Benefit Plan. Section 2.04 Closing Purchase Price Adjustment. (a) For purposes
of this Agreement, the following terms shall have the respective meanings
assigned to such terms below: (i) “Accounts Receivable” means the accounts
receivable of the Companies, without duplication, as of the Effective Time, in
each case, (A) calculated in accordance with GAAP and in a manner consistent
with those methodologies, policies, procedures, practices, estimation
techniques, assumptions and principles set forth on Schedule II and (B)
excluding any Closing Cash. (ii) “Accounts Payable” means the accounts payable,
accrued expenses, and other current liabilities of the Companies (including
refunds and credits owed to customers and vendors, Taxes and employees’ accrued
but unpaid salary, wages, vacation and paid time off), without duplication, as
of the Effective Time, in each case, (A) calculated in accordance with GAAP and
in a manner consistent with those methodologies, policies, procedures,
practices, estimation techniques, assumptions and principles set forth on
Schedule II and (B) excluding any amounts included in Closing Indebtedness or
Transaction Expenses. (iii) “Net Trade Working Capital” means an amount equal to
the sum of: (A) Accounts Receivable minus (B) Accounts Payable. (iv) “Target Net
Trade Working Capital” means $1,000,000.00. (b) Estimate by Sellers. At least
three (3) Business Days, but not more than five (5) Business Days, prior to the
anticipated Closing Date, Sellers shall deliver to Buyer a written notice
setting forth the Sellers’ good faith estimate, as of the anticipated Closing
Date, of each of (i) the Closing Indebtedness (the “Estimated Closing
Indebtedness”) and (ii) the Transaction Expenses (the “Estimated Transaction
Expenses”). (c) Closing Statement. As promptly as practicable, but no later than
one hundred twenty (120) days after the Closing Date, Buyer shall prepare and
deliver, or cause to be prepared and delivered, to Sellers (i) a written
statement of Buyer’s calculation of each of the Trade Working Capital, Closing
Cash, Closing Indebtedness and Transaction Expenses (the “Closing Statement”)
and (ii) statements supporting the calculations thereof, including supporting
documentation and work papers with respect thereto. 6 302010047 v18

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[exhibit103eaglesecuritie012.jpg]
(d) Examination and Review. The Closing Statement delivered by Buyer to Sellers
shall be final, conclusive and binding upon the parties unless Sellers, within
forty-five (45) days after delivery to Sellers of the Closing Statement,
notifies Buyer in writing that Sellers dispute any of the amounts set forth
therein (a “Dispute Notice”). To be valid and effective, the Dispute Notice
shall contain a specific list of the disputed line items and, for each
individual disputed line item, reasonable detail regarding the nature and the
basis for such disputed line item and Sellers’ proposed calculation thereof
(each such item, a “Disputed Item”). Prior to the final resolution of the
Closing Statement, Buyer may supplement or revise its position with respect to
any item or amount contained in the Closing Statement. Any supplement delivered
by Buyer shall be deemed an amendment to the Closing Statement and shall entitle
Sellers to amend its Dispute Notice (and the Disputed Items) in its entirety by
delivery of an amended Dispute Notice within thirty (30) days after delivery to
Sellers of such supplemental or revised items. If a timely Dispute Notice is
delivered by Sellers, then the Closing Statement shall become final, conclusive
and binding on the parties on the earlier of (i) the date Buyer and Sellers
resolve in writing any differences they have with respect to all Disputed Items
and (ii) the date all Disputed Items are finally resolved in writing by the
Independent Accountant. (e) Resolution of Disputes. Buyer and Sellers shall in
good faith attempt to resolve all Disputed Items and, if Buyer and Sellers so
resolve all such Disputed Items, the Closing Statement, as amended to the extent
necessary to reflect the agreed resolution of the Disputed Items, shall be
final, conclusive and binding on the parties, absent manifest error.
Notwithstanding their good faith efforts, if Buyer and Sellers do not reach
agreement resolving the Disputed Items within thirty (30) days after such
Dispute Notice (or amended Dispute Notice if Buyer supplements its position
pursuant to Section 2.04(d) and such amended Dispute Notice is timely and
properly delivered to Buyer), either Buyer or Sellers may submit the dispute to
PricewaterhouseCoopers or, if PricewaterhouseCoopers is unwilling or unable to
serve, an independent accounting firm of national reputation mutually agreeable
to Buyer and Sellers (PricewaterhouseCoopers or such other mutually agreeable
independent accounting firm, the “Independent Accountant”). If either Buyer or
Sellers submit the dispute to the Independent Accountant then each party shall
take all actions reasonably requested by the Independent Accountant in
connection with resolving such dispute, including submitting written claims to
the Independent Accountant, if so requested, and each party shall request that
the Independent Accountant deliver to Buyer and Sellers its resolution in
writing not more than thirty (30) days after its engagement. All determinations
made by the Independent Accountant shall be in writing and shall be final,
conclusive and binding on the parties absent fraud or manifest error. In
resolving any Disputed Item, the Independent Accountant (i) shall be bound by
the provisions of this Section 2.04, including the matters set forth on Schedule
II and (ii) may not assign a value to any individual Disputed Item greater than
the greatest value for such Disputed Item claimed by Buyer or Sellers or less
than the smallest value for such Disputed Item claimed by Buyer or Sellers. None
of Sellers, Buyer and the Companies (and none of their respective
Representatives) shall have any ex parte conversations or meetings with the
Independent Accountant without the prior consent (not to be withheld,
conditioned or delayed unreasonably) of (i) with respect to Sellers, Buyer, and
(ii) with respect to Buyer and the Companies, Sellers. The fees, costs and
expenses of the Independent Accountant shall be allocated to and borne by Buyer,
on the one hand, and Sellers, on the other, based on the inverse of the
percentage that the Independent Accountant’s determination (before such
allocation) bears to the total amount of the Disputed Items as originally
submitted to the Independent Accountant. For example, if Sellers claim that the
Net Trade Working Capital is $1,000 greater than the amount claimed by Buyer, if
Buyer contests only $500 of such amount claimed by Sellers and if the
Independent Accountant ultimately resolves the dispute by awarding Sellers $300
of the $500 so contested, then the fees, costs and expenses of the Independent
Accountant will be allocated sixty percent (60%) (i.e., 300 ÷ 500) to Buyer and
forty percent (40%) (i.e., 200 ÷ 500) to Sellers. Any fees, costs and expenses
allocated to and to be borne by a party pursuant to the foregoing sentence shall
be paid by such party, or its designee, within five (5) Business Days of receipt
of any invoice or bill for such fees, costs and expenses. “Final Closing
Statement” means (i) Buyer’s Closing Statement delivered pursuant to Section
2.04(c) if no Dispute Notice is timely delivered by Sellers pursuant to 7
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Section 2.04(d); or (ii) if a Dispute Notice is timely delivered, (A) as agreed
by Buyer and Sellers pursuant to Section 2.04(e) or (B) in the absence of such
agreement, as shown in the Independent Accountant’s calculation delivered
pursuant to Section 2.04(e). (f) Cooperation. Buyer and Sellers shall, and shall
cause their respective Representatives to, cooperate and assist in the conduct
of the review referred to in this Section 2.04, including by making available to
the extent necessary books, records, work papers and personnel and accountants.
(g) Adjustment. The parties agree to the following adjustment to the Closing
Purchase Price following the Closing (the amount of such adjustment, the
“Adjustment Amount”), which shall be calculated as follows: (i) the amount,
expressed as a negative or positive number, of Closing Cash (as set forth in the
Final Closing Statement); plus (ii) the amount, if any, by which the Net Trade
Working Capital (as set forth in the Final Closing Statement) is greater than
the Target Net Trade Working Capital; minus (iii) the amount, if any, by which
the Net Trade Working Capital (as set forth in the Final Closing Statement) is
less than the Target Net Trade Working Capital; plus (iv) the amount, if any, by
which the Transaction Expenses (as set forth in the Final Closing Statement) are
less than Estimated Transaction Expenses; minus (v) the amount, if any, by which
the Transaction Expenses (as set forth in the Final Closing Statement) are
greater than the Estimated Transaction Expenses; plus (vi) the amount, if any,
by which the Closing Indebtedness (as set forth in the Final Closing Statement)
is less than the Estimated Closing Indebtedness; minus (vii) the amount, if any,
by which the Closing Indebtedness (as set forth in the Final Closing Statement)
is greater than the Estimated Closing Indebtedness. (h) If the Adjustment
Amount, as calculated pursuant to Section 2.04(g), is a negative number, then
each Seller shall pay one-half of such amount to Buyer as an adjustment to the
Closing Purchase Price in the manner provided in Section 2.04(i). If the
Adjustment Amount, as calculated pursuant to Section 2.04(g), is a positive
number, then Buyer shall pay one-half of such amount to each Seller in
accordance with the instructions provided by such Seller as an adjustment to the
Closing Purchase Price in the manner provided in Section 2.04(i). (i) Payments
of Adjustment to Closing Purchase Price. Any payment pursuant to Section 2.04(h)
shall be made, by wire transfer of immediately available funds by Buyer or
Sellers, as the case may be, within five (5) Business Days after the Final
Closing Statement has been determined in accordance with Section 2.04(e) above,
to the account of such other party as may be designated in writing by such other
party. (j) Adjustments for Tax Purposes. Any payments made pursuant to Section
2.04 shall be treated as an adjustment to the aggregate purchase price for the
Securities by the parties for Tax purposes, unless otherwise required by Law,
and shall be allocated in accordance with the principles set forth in Section
7.07. 8 302010047 v18

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Section 2.05 Closing. Subject to the terms and conditions of this Agreement, the
purchase and sale of the Securities and the other transactions contemplated
hereby shall take place at a closing (the “Closing”) to take place
electronically via email or facsimile at 10:00 a.m., New York City time, on the
date hereof, or at such other time, date or place as Sellers and Buyer may
mutually agree upon in writing (the day on which the Closing takes place being
the “Closing Date”); provided, however, that the Closing will be deemed to be
effective as of 11:59 p.m. on the Closing Date (the “Effective Time”). Section
2.06 Withholding Tax. Buyer and the Companies shall be entitled to deduct and
withhold from the aggregate purchase price for the Securities all Taxes that
Buyer and the Companies may be required to deduct and withhold under any
provision of Tax Law. All such withheld amounts shall be treated as delivered to
Sellers hereunder. ARTICLE III REPRESENTATIONS AND WARRANTIES REGARDING THE
COMPANIES Except as disclosed in the corresponding numbered section of the
Disclosure Schedules, Sellers, jointly and severally, hereby represent and
warrant to Buyer as set forth in this Article III. Items and matters disclosed
in the Disclosure Schedules are organized to correspond to the Sections of this
Article III to which the matters relate. Section 3.01 Organization, Authority
and Qualification of the Companies. (a) Each of Coram, A.B. of Sayville, MLFF
and BSLH is a corporation duly organized, validly existing and in good standing
under the Laws of the State of New York. MPD LLC is a limited liability company
duly organized, validly existing and subsisting under the Laws of the State of
New York. Each Company has all requisite power and authority, as applicable, to
own, operate or lease the properties and assets now owned, operated or leased by
it and to carry on its business as it is currently conducted. Section 3.01 of
the Disclosure Schedules sets forth, with respect to each Company, each
jurisdiction in which such Company is licensed or qualified to do business, and
such Company is duly licensed or qualified to do business and is in good
standing in each jurisdiction in which the properties and assets owned, operated
or leased by it or the operation of its business as currently conducted makes
such licensing or qualification necessary, except where the failure to be so
licensed or qualified does not have a Material Adverse Effect. (b) Sellers have
heretofore furnished to Buyer true, correct and complete copies of the
Organizational Documents of each Company. Such Organizational Documents are in
full force and effect. No Company is in violation of any of the provisions of
its Organizational Documents. The minutes, written consents and other materials
of each Company traditionally contained in corporate kits/minute books, and the
stock records of each Company, have been made available to Buyer and are
accurate and correct. (c) The execution and delivery by each Company of this
Agreement and each other Transaction Document to which such Company is a party,
the performance by such Company of its obligations hereunder and thereunder and
the consummation by such Company of the transactions contemplated hereby and
thereby have been duly authorized by all requisite action on the part of such
Company. This Agreement and each other Transaction Document to which such
Company is, or will be, a party has been duly executed and delivered by such
Company, and (assuming due authorization, execution and delivery by each of the
other parties) this Agreement constitutes a legal, valid and binding obligation
of such Company, enforceable against such Company in accordance with its terms,
except that (i) such enforcement may be subject to any bankruptcy, insolvency,
reorganization, moratorium, fraudulent transfer or other laws, now or hereafter
in effect, relating to or limiting creditors’ rights generally and (ii) the
remedy of specific performance and injunctive and other forms of equitable
relief, may be subject to equitable 9 302010047 v18

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defenses and to the discretion of the court before which any proceeding therefor
may be brought. Section 3.02 Capitalization. (a) The authorized capital stock of
each Company is set forth on Section 3.02(a) of the Disclosure Schedules. All of
the Securities are held of record by the Sellers in such amounts as set forth on
Exhibit A, and such Securities constitute all of the issued and outstanding
capital stock or membership interests, as applicable, of the Companies. All of
the Securities have been duly authorized, are validly issued, fully paid and
non-assessable. (b) All of the Securities were issued in compliance with Laws.
None of the Securities were issued in violation of the Organizational Documents
of the applicable Company or any other Contract to which Sellers or such Company
is a party or is subject to or in violation of any preemptive or similar rights
of any Person. (c) Except for the Securities set forth in Exhibit A, there are
no (i) issued or outstanding shares, equity securities, or other form of capital
stock of any Company or (ii) outstanding or authorized options, warrants,
convertible securities or other rights, agreements, arrangements or commitments
of any character relating to the capital stock of or any other interest in any
Company or obligating any Seller or any Company to issue, exchange or sell any
shares of capital stock of, in, or any other interest in, any Company. No
Company has any outstanding or authorized stock appreciation, phantom stock,
profit participation or similar rights. No Company has any bond, note, debenture
or other Indebtedness having the right to vote or convertible or exchangeable
for securities having the right to vote. Except as set forth on Section 3.02(c)
of the Disclosure Schedules, there are no voting trusts, stockholder agreements,
proxies or other Contracts in effect that relate to the voting, selling,
issuing, repurchasing, redeeming, disposition of or transfer of any of the
Securities or unissued capital stock or other equity or ownership interests of
any Company. Section 3.03 Subsidiaries. No Company (a) has any direct or
indirect Subsidiaries; (b) has any direct or indirect interest in or is under
any current or prospective obligation to receive an interest in, any shares or
ownership interest in any other Person; and (c) is a member of or participant in
any partnership, joint venture, or similar entity. Section 3.04 No Conflicts;
Consents. Except as set forth on Section 3.04 of the Disclosure Schedules, the
execution, delivery and performance by each Company of each Transaction Document
to which it is, or will be, a party, and the consummation of the transactions
contemplated hereby and thereby, do not and will not: (a) conflict with or
result in a violation or breach of, or default under, any provision of the
Organizational Documents of such Company; (b) conflict with or result in a
violation or breach of any provision of any Law or Order applicable to such
Company; (c) require the consent, notice or other action by any Person under,
conflict with, result in a violation or breach of, constitute a default or an
event that, with or without notice or lapse of time or both, would constitute a
default under, result in the acceleration of or create in any party the right to
accelerate, terminate, modify or cancel any Material Contract or any Permit
affecting the properties, assets or business of such Company; or (d) result in
the creation or imposition of any Encumbrance, other than Permitted
Encumbrances, on any properties or assets of such Company. Except as set forth
in Section 3.04 of the Disclosure Schedules, no consent, Permit, Order,
declaration or filing with, or notice to, any Governmental Authority is required
by or with respect to any Company in connection with the execution and delivery
of this Agreement and the other Transaction Documents and the consummation of
the transactions contemplated hereby and thereby. Section 3.05 Financial
Statements. True, correct and complete copies of the compiled financial
statements of each Company, consisting of the balance sheet of each Company as
at December 31 in each 10 302010047 v18

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of the years 2019, 2018, 2017 and 2016 and the related statements of income and
retained earnings, stockholders’ equity and cash flows for the years then ended
(the “Financial Statements”), are set forth on Section 3.05 of the Disclosure
Schedules. The Financial Statements have been prepared in accordance with GAAP
applied on a consistent basis throughout the periods involved, subject to the
statements set forth on Schedule II. The Financial Statements are true, correct
and complete, in all material respects, and have been prepared in accordance
with the books and records of each Company and fairly present the financial
condition of each Company as of the respective dates thereof and the cash flows
and results of the operations of each Company for the periods indicated. The
balance sheet of each Company as of December 31, 2018 is referred to herein as
the “Balance Sheet” and the date of the Balance Sheet as the “Balance Sheet
Date”. Each Company maintains a standard system of accounting established and
administered in accordance with GAAP, subject to the statements set forth on
Schedule II. The Accounts Receivable reflected on the Financial Statements and
the Accounts Receivable arising after the Balance Sheet Date (i) have arisen
from bona fide transactions entered into by the Companies involving the sale of
goods or the rendering of services in the ordinary course of the Companies’
business consistent with past practice (the “Ordinary Course of Business” ), and
(ii) constitute only valid, undisputed claims of the Companies not subject to
claims of set- off or other defenses or counterclaims other than normal cash
discounts accrued in the Ordinary Course of Business. Section 3.06 Undisclosed
Liabilities. The Companies do not have any Liabilities, except (a) those that
are reflected or reserved against in the Financial Statements for the year ended
December 31, 2019, and (b) those that have been incurred in the Ordinary Course
of Business since January 1, 2020 and which are not, individually or in the
aggregate, material in amount. Section 3.07 Absence of Certain Changes, Events
and Conditions. Except as set forth in Section 3.07 of the Disclosure Schedules,
since the Balance Sheet Date, the Companies have conducted their business only
in the Ordinary Course of Business and there has not been, with respect to any
Company, any: (a) event, occurrence or development that has had, or could
reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect; (b) amendment of any Company’s Organizational Documents; (c)
split, combination or reclassification of any shares of any Company’s capital
stock or other ownership interests; (d) issuance, sale or other disposition of
any Company’s capital stock or creation of any Encumbrance on the capital stock
or other ownership interests of any Company, or grant of any options, warrants
or other rights to purchase or obtain (including upon conversion, exchange or
exercise) any Company’s capital stock or other ownership interests; (e)
declaration or payment of any dividends or distributions on or in respect of any
Company’s capital stock or redemption, purchase or acquisition of any Company’s
capital stock or other ownership interests; (f) change in any method of
accounting or accounting practice of any Company, except as required by GAAP or
applicable Law, or as disclosed in the notes to the Financial Statements; (g)
acceleration of the billing of customers or the collection of its accounts
receivable or delay in payment of accounts payable or accrued expenses or the
deferment of expenses; 11 302010047 v18

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(h) transfer, assignment, sale or other disposition of any inventory of any
Company at lower than normal pricing, any shut-down of the normal inventory
mining, extraction, removal or processing processes of any Company at a date
materially earlier than past practice, or any start-up of any such processes at
a date materially later than past practice (taking into account reasonable
business judgment considerations based on weather conditions); (i) incurrence,
assumption or guarantee by any Company of any Indebtedness for borrowed money,
except unsecured current obligations and Liabilities incurred in the Ordinary
Course of Business; (j) transfer, assignment, sale (other than sales of
inventory in the Ordinary Course of Business) or other disposition of any of the
assets shown or reflected in the Interim Balance Sheet or cancellation of any
debts or entitlements by any Company; (k) transfer, assignment, conveyance,
abandonment, cancellation, Encumbrance or grant by any Company of any license or
sublicense of any material rights under or with respect to any Intellectual
Property owned, used or held for use by any Company; (l) material damage to,
destruction of or loss of (whether or not covered by insurance) any Company’s
property, including any Real Property; (m) capital investment in or by, or any
loan from, any Company to any other Person; (n) acceleration, termination,
material modification to or cancellation of any Material Contract; (o) material
capital expenditures by any Company not set forth on Section 3.26 of the
Disclosure Schedules; (p) imposition of any Encumbrance upon any of the
properties, Real Property, capital stock, ownership interests or assets,
tangible or intangible, of any Company; (q) commencement or settlement of any
Action related to any Company; (r) grant, establishment, adoption, increase,
modification, termination or amendment of any (or commitment to, entry into a
Contract to or representation to any Person that it will do so): (i) employment,
severance, retention or other agreement with any Company’s current or former
officers, directors, employees, independent contractors or consultants
(including any bonus arrangement or plan, whether monetary or otherwise, or any
action to accelerate the vesting or payment of any compensation or benefit),
(ii) Benefit Plan or (iii) Collective Bargaining Agreement or other Agreement
with a Union, in each case, whether written or oral; (s) loan by any Company to
(or forgiveness of any loan by any Company to), or entry into any other
transaction with, any Company’s members, directors, officers and employees or
entry by any Company into any transaction involving payments to or from or other
financial obligations owed to or owing from any Seller or any Affiliate of any
Seller; (t) entry by any Company into a new line of business or abandonment or
discontinuance of existing lines of business; (u) adoption by any Company of any
plan of merger, consolidation, reorganization, 12 302010047 v18

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liquidation or dissolution or filing by any Company of a petition in bankruptcy
under any provisions of federal or state bankruptcy Law or consent by any
Company to the filing of any bankruptcy petition against it under any similar
Law; (v) purchase, lease or other acquisition by any Company of the right to
own, use or lease any property or assets for an amount in excess of $25,000
individually (in the case of a lease, per annum) or $50,000 in the aggregate (in
the case of a lease, for the entire term of the lease, not including any option
term), except for purchases of inventory or supplies in the Ordinary Course of
Business; (w) acquisition by merger or consolidation with, or by purchase of a
substantial portion of the assets or stock or other equity of or by any other
manner, any business or any Person or any division thereof by any Company; (x)
action by any Company to make, change or rescind any Tax election, amend any Tax
Return or take any position on any Tax Return, take any action, omit to take any
action or enter into any other transaction that would have the effect of
increasing the Tax liability or reducing any Tax asset of Buyer in respect of
any Post-Closing Tax Period; or (y) entry into any Contract by any Company or
any Seller to do any of the foregoing or any act or omission that would result
in any of the foregoing. Section 3.08 Material Contracts. (a) Section 3.08(a) of
the Disclosure Schedules sets forth a true, correct and complete list of each of
the following Contracts of each Company that are currently in effect or under
which a party has enforceable or outstanding rights or obligations (whether
known or unknown, asserted or unasserted, absolute or contingent, or disputed or
undisputed) (such Contracts set forth, or required to be set forth, on Section
3.08(a) of the Disclosure Schedules, together with all Contracts set forth, or
required to be set forth, on Section 3.09(b), Section 3.09(e), Section 3.11(c),
Section 3.14, Section 3.18(a), Section 3.21 and Section 3.22 of the Disclosure
Schedules, the “Material Contracts”): (i) all Contracts of each Company that (A)
provide for payment or receipt by such Company of more than $25,000 per year,
(B) have a term of greater than one (1) year and that cannot be terminated or
cancelled by such Company on less than thirty (30) days’ notice and without any
penalty or other payment or (C) are material to the business, operations,
assets, financial condition, results of operation or prospects of such Company,
taken as a whole; (ii) all Contracts that require any Company to purchase its
total requirements of any product or service from a third party or that contain
“take or pay” provisions; (iii) all Contracts that provide for the
indemnification by any Company of any Person or the assumption of any Tax or
environmental Liability of any Person; (iv) all Contracts that relate to the
acquisition or disposition of any business, a material amount of equity or
assets of any other Person or any real property (whether by merger, sale of
stock or other equity interests, sale of assets or otherwise); (v) all broker,
distributor, dealer, agency, sales promotion, market research, marketing
consulting and advertising Contracts providing for payments of more than $10,000
to or by any Person based on sales, purchases or profits, other than direct
payments for goods; 13 302010047 v18

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(vi) all employment agreements and Contracts with independent contractors or
consultants (or similar arrangements); (vii) except for Contracts relating to
trade receivables, all Contracts relating to Indebtedness (including guarantees,
notes, mortgages or other grants of security interests) of any Company; (viii)
all Contracts with any Governmental Authority, (ix) all Contracts whereby any
Company is or has granted any rights, interests and authority, whether on an
exclusive or non-exclusive basis, with respect to any Intellectual Property,
other than commercially available, non-customized “off-the-shelf” software
licensed to any Company with annual license fee of less than $5,000.00 (the
“Licensed Intellectual Property”); (x) all Contracts related to the settlement
of any Action; (xi) all Contracts (A) that limit or purport to limit the ability
of any Company to compete in any line of business or with any Person or in any
geographic area or during any period of time, (B) that restrict the right of any
Company to sell to or purchase from any Person, (C) that restrict the right of
any Company to hire any Person, or (D) that grant the other party or any third
person “most favored nation” status or any type of special discount rights;
(xii) all Contracts that require a consent to or otherwise contain a provision
relating to a “change of control,” or that would prohibit or delay the
consummation of the transactions contemplated by this Agreement or any other
Transaction Documents; (xiii) all Contracts premised on small business status,
minority-owned business status, disadvantaged business status, protégé status,
“8(a)” status or other preferential status; (xiv) all Contracts that provide for
any joint venture, partnership or similar arrangement by any Company; (xv) all
Contracts between or among any Company on the one hand, and any Seller or any
Affiliate of any Seller (other than a Company), on the other hand, which shall
be terminated at the Closing pursuant to Section 6.10; (xvi) all Collective
Bargaining Agreements or Contracts with any Union; and (xvii) all consignment
Contracts. (b) Except as set forth in Section 3.08(b) of the Disclosure
Schedules, each Material Contract has been duly authorized by, and is valid and
binding on the Company party thereto in accordance with its terms and is in full
force and effect and, upon consummation of the transactions contemplated by this
Agreement, shall continue in full force and effect without penalty or other
adverse consequences. Neither such Company, nor, to Sellers’ Knowledge, any
other party to such Material Contract is in breach of or default under (or is
alleged to be in breach of or default under), or has provided or received any
notice of any intention to terminate, such Material Contract. No event or
circumstance has occurred that, with notice or lapse of time or both, would
constitute an event of default under any Material Contract or result in a
termination thereof or would cause or permit the acceleration or other changes
of any right or obligation or the loss of any benefit thereunder. True, correct
and complete copies of each Material Contract (including all modifications,
amendments and supplements thereto and waivers thereunder) have been made
available 14 302010047 v18

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to Buyer. The loss of small business status, minority-owned business status,
disadvantaged business status, protégé status, “8(a)” status or other
preferential status would not result in a termination of any Material Contract
or a loss in any Company’s business relations with any customer. Section 3.09
Title to Assets; Real Property. (a) The Companies do not hold a fee interest in
any real property, other than as set forth in the letter delivered by the
Sellers and the Companies to Buyer as of the date of this Agreement, nor any
leasehold or other similar interest (e.g., license, sublicense, sublease,
sub-sublease, etc.) in any real property. Subject to the Title Exceptions and
the Permitted Encumbrances, the Companies have good, marketable and insurable
fee simple title to all of the real property listed or required to be listed in
such letter as owned in fee simple. The Companies have legal or equitable title
to all real property, including granted land use rights for any such land and
all buildings, structures, improvements and facilities located thereon, owned by
the Companies, as applicable, or used or occupied by it (such property owned,
used or occupied by the Companies, collectively, the “Real Property”), other
than as set forth in the letter delivered by the Sellers and the Companies to
Buyer as of the date of this Agreement, subject only to the Title Exceptions and
the Permitted Encumbrances. The Real Property has access to (A) public roads or
valid easements over private streets or private property for such ingress to and
egress from such Real Property and (B) water supply, storm and sanitary sewer
facilities, telephone, gas and electrical connections, fire protection, drainage
and other public utilities, in the case of each of clauses (A) and (B), as is
necessary to comply with Law or to conduct the business of the Companies, in all
material respects, as it is currently conducted. Except as provided in Section
3.09(a) of the Disclosure Schedules, the Real Property and its continued use,
occupancy and operation as currently used, occupied and operated, does not
constitute a nonconforming use under any Law relating to building, zoning,
subdivision or other land use. (b) The Real Property is free and clear of any
and all Encumbrances, except as provided in Section 3.09(b) of the Disclosure
Schedules and for the Title Exceptions and the Permitted Encumbrances, which
Title Exceptions and Encumbrances do not materially interfere with or impair the
operation, function or efficiency of the Companies’ business. No Company has
assigned, mortgaged, transferred, or hypothecated any fee interest in any of the
Real Property or leased or subleased all or any portion of the Real Property,
and no Company is a grantor under any lease, sublease, or other instrument
granting to any other Person any right to the possession, lease, occupancy or
enjoyment of any Real Property, except as provided in Section 3.09(b) of the
Disclosure Schedules. (c) There are no, and no Company has received written
notice of any, (i) assessments, pending or threatened, that could adversely
affect Buyer’s operation, use or maintenance of the Real Property from and after
the Closing Date or Sellers’ ability to perform under this Agreement or (ii)
condemnation or eminent domain proceedings pending or threatened against the
Real Property nor any material damages to the Real Property due to fire or
casualty. There have been no adverse claims by any Person (including adjoining
property owners) or encroachments with respect to the Real Property, and the
Companies have made available to Buyer all notices, correspondence, complaints,
pleadings or other communications or documentation with respect to any such
claims. Except as set forth in Section 3.09(c) of the Disclosure Schedules,
during the past five (5) years, no Company has received any written notice from
any Governmental Authority of any material violation of or non-compliance with
any Law, regulation or ruling, whether federal, state, local, or administrative
which affects the Real Property, including any building, fire safety or zoning
code violations relating to the Real Property. (d) No Company has granted, is a
party to, or is obligated under any right, option, obligation or agreement to
purchase, transfer or acquire any interest in any of the Real Property. 15
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(e) Other than as set forth in the letter delivered by the Sellers and the
Companies to Buyer as of the date of this Agreement, the Companies have all
necessary mineral rights, surface and subsurface rights, water rights and rights
in water, rights of way, licenses, easements, ingress, egress and access rights,
and all other rights and interests granting the Companies the exclusive right
and ability to mine, extract, remove, process, transport and market the sand and
mineral reserves owned or controlled by the Companies, in the Ordinary Course of
Business (the “Mineral Rights”), free and clear of any Encumbrances (other than
the Permitted Encumbrances). Except as set forth in Section 3.09(e) of the
Disclosure Schedules and except for the Title Exceptions and the Permitted
Encumbrances, there are no leases, subleases, licensees, concessions,
rights-of-way, easements or other agreements (whether written or oral), granting
third parties the right of use or occupancy of, any Mineral Right (or the
surface thereof). There are no existing production royalties or other payments
of any kind which are payable with respect to the Mineral Rights, or any
resources or anything else of value that may be mined or produced from the
Mineral Rights or the Real Property. (f) Section 3.09(f) of the Disclosure
Schedules sets forth, as of the date hereof, all material personal property and
other material assets reflected in the Financial Statements (including leased
personal property), acquired after the Balance Sheet Date, or located on the
Real Property other than personal property and assets acquired, sold or
otherwise disposed of in the Ordinary Course of Business since the Balance Sheet
Date (the “Company Personal Property”). The Companies hold good, marketable and
valid title to all owned and a good, marketable and valid lease interest in all
leased Company Personal Property in their possession, free of any and all
Encumbrances, except for Permitted Encumbrances, which Permitted Encumbrances
are not material to the operation, function or efficiency of the Companies’
business. Section 3.10 Sufficiency of Assets. The Real Property, buildings,
plants, structures, furniture, fixtures, machinery, equipment, vehicles and
other items of tangible personal property of the Companies are structurally
sound, are in good operating condition and repair and are adequate for the uses
to which they are being put, and none of such buildings, plants, structures,
furniture, fixtures, machinery, equipment, vehicles and other items of tangible
personal property is in need of maintenance or repairs other than those that are
not material in nature or cost or which are within the Ordinary Course of
Business. The buildings, plants, structures, furniture, fixtures, machinery,
equipment, vehicles and other items of tangible personal property currently
owned or leased by the Companies, together with all other properties and assets
of the Companies, all of which shall remain the property of the Companies as of
and immediately following the Closing, other than the Excluded Assets, are
sufficient for the continued conduct of the Companies’ business after the
Closing in substantially the same manner as currently conducted and constitute
all of the rights, property and assets necessary to conduct the business of the
Companies as currently conducted. Section 3.11 Intellectual Property Assets. (a)
Section 3.11(a) of the Disclosure Schedules sets forth a complete and accurate
list of all Owned Intellectual Property that is material in the conduct of the
Companies’ business as currently conducted and contemplated to be conducted as
of the date hereof (the “Material Intellectual Property”). The Companies
collectively own exclusively, all right, title and interest in and to the
Material Intellectual Property, free and clear of any and all Encumbrances,
except for Permitted Encumbrances, which Permitted Encumbrances are not material
to the operation, function or efficiency of the Companies’ business, or
otherwise have a valid and enforceable right to use, assign, convey and transfer
all Material Intellectual Property and its subsidiaries have not and are not in
violation of any open source license agreements. Neither this Agreement nor the
consummation of the transactions contemplated hereby will result, in any manner,
in the abandonment, cancellation, loss or impairment of such Material
Intellectual Property or the Companies’ rights in or to any Material
Intellectual Property. 16 302010047 v18

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[exhibit103eaglesecuritie022.jpg]
(b) The activities and operations of the Companies’ business as currently
conducted, and the Material Intellectual Property, to the Knowledge of Sellers,
have not and do not infringe, violate or misappropriate any rights, including
Intellectual Property rights, of any Person. No Seller nor any Company has
received any written communication, and no Action has been instituted, settled
or, to Sellers’ Knowledge, threatened that alleges any such infringement,
violation or misappropriation. None of the Material Intellectual Property is (i)
subject to any outstanding Order or any other restrictions, including
contractual, affecting the use, assignability or validity of such Material
Intellectual Property; or (ii) to Sellers’ Knowledge, no third party is
infringing, violating, or otherwise misappropriating any Material Intellectual
Property. (c) Except as set forth in Section 3.11(c) of the Disclosure
Schedules, no Company (i) owns any proprietary software or (ii) is a party to
any Contract pursuant to which such Company grants rights, interests or
authority to any Person with respect to any Owned Intellectual Property or
Licensed Intellectual Property. (d) The Companies collectively maintain
reasonable and appropriate (i) data backup, data storage, system redundancy and
disaster recovery procedures, (ii) business continuation programs and (iii)
administrative, physical and technical security controls for all of their
collective computer systems, networks, hardware and infrastructure
(collectively, the “IT Assets”) that are intended to safeguard such IT Assets
from the risk of business disruption arising from attacks (including virus, worm
and denial-of-service attacks), unauthorized activities of any employee, hackers
or any other Person. The IT Assets have not suffered any material failure within
the past three (3) years, to Seller’s Knowledge, and are reasonably secure
against intrusion. (e) Each Company has taken commercially reasonable measures
to protect the confidentiality of the Trade Secrets and any personally
identifiable information (e.g., personally identifiable information related to
vendor/customer information) included in the Material Intellectual Property. (f)
Except as set forth on Section 3.11(f) of the Disclosure Schedules, each Company
has, at all times, to Sellers’ Knowledge, complied in all material respects with
applicable privacy and data security Laws and regulations, including internal
privacy policies (collectively, “Privacy Laws”) and, the execution, delivery and
performance of this Agreement complies with all such Privacy Laws. No Company
has, in the prior three (3) years, (a) received a written notice that there has
been a material breach or violation of security or unauthorized access to or
unauthorized acquisition, use, loss, destruction, compromise or disclosure of
any personal information maintained or stored by or for any Company in violation
of applicable Privacy Laws (a “Material Security Breach”); or (b) received a
written notice from any users or customers of the internet websites owned,
maintained or operated by or for any Company asserting a Material Security
Breach or seeking compensation for breach or violation of a Privacy Law. Section
3.12 Inventory; Reserves. All inventory of the Companies, including, without
limitation, all raw materials, work in process, supplies, finished goods and
other materials salable in the Ordinary Course of Business, whether or not
reflected in the Financial Statements, (a) was acquired and has been maintained
in the Ordinary Course of Business and (b) consists of a quality and quantity
usable and salable in the Ordinary Course of Business, except for obsolete,
damaged, defective or slow-moving items that have been written off or written
down to fair market value or for which adequate reserves have been established.
All such inventory is owned by the Companies free and clear of any and all
Encumbrances, except for Permitted Encumbrances, which Permitted Encumbrances
are not material to the operation, function or efficiency of the Companies’
business, and no inventory is held on a consignment basis. The quantities of
each item of such inventory are not excessive, but are reasonable in the present
circumstances of the Companies. All such inventory of the Companies is located
at the Real Property and there is no such inventory of any Company with
customers, distributors, Representatives or other Persons 17 302010047 v18

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[exhibit103eaglesecuritie023.jpg]
on consignment or otherwise that could be returned to any Company for a refund
of all or part of the purchase price therefor. Sellers have provided or
otherwise made available to Buyer true, correct and complete copies of any and
all reports, studies, audits, records, sampling data, and other similar
documents that are in the possession or control of any Seller or any Company
related to any and all sand and mineral reserves owned or controlled by any
Company. Section 3.13 Customers and Suppliers. (a) Section 3.13(a)(i) of the
Disclosure Schedules sets forth, with respect to the Companies, operating as a
whole, the ten (10) largest customers of the Companies, by dollar volume, for
each of the following periods: (i) the fiscal year ended December 31, 2017, (ii)
the fiscal year ended December 31, 2018 and (iii) the period beginning on
January 1, 2019 and ending on January 31, 2020, and set forth opposite the name
of each such customer is the volume, average selling price and dollar amount of
revenue attributable to such customer for such periods (collectively, the
“Material Customers”). Except as set forth in Section 3.13(a)(ii) of the
Disclosure Schedules, since December 31, 2017, no Company has received any
written notice or, to Sellers’ Knowledge, any other communication, and has no
reason to believe that any of the Material Customers has ceased, or to Sellers’
Knowledge, intends to cease, to use the Companies’ goods or services or to
otherwise terminate or materially reduce its business relationship with any
Company. For the avoidance of doubt, none of Sellers or the Companies makes any
representation or warranty that any Material Customer will maintain its
relationship with the Companies following the Closing. (b) Section 3.13(b)(i) of
the Disclosure Schedules sets forth, with respect to the Companies, operating as
a whole, the ten (10) largest vendors of the Companies, by dollar volume, for
each of the following periods: (i) the fiscal year ended December 31, 2017, (ii)
the fiscal year ended December 31, 2018 and (iii) the period beginning on
January 1, 2019 and ending on January 31, 2020, and set forth opposite the name
of each such vendor is the dollar amount of purchases or consideration paid or
attributable to such vendor for such periods (collectively, the “Material
Suppliers”). Except as set forth in Section 3.13(a)(ii) of the Disclosure
Schedules, since December 31, 2017, no Company has received any written notice
or, to Sellers’ Knowledge, any other communication, and has no reason to believe
that any of the Material Suppliers has ceased, or, to Sellers’ Knowledge,
intends to cease, to supply goods or services to any Company or to otherwise
terminate or materially reduce its business relationship with any Company. For
the avoidance of doubt, none of Sellers or the Companies makes any
representation or warranty that any Material Supplier will maintain its
relationship with the Companies following the Closing. Section 3.14 Insurance.
Section 3.14 of the Disclosure Schedules sets forth a true, correct and complete
list of all current policies of, binders of, or programs covering, fire,
liability, product liability, umbrella liability, real and personal property,
workers’ compensation, vehicular, directors’ and officers’ liability, fiduciary
liability and other casualty and property insurance, self-insurance or
co-insurance maintained by Sellers or their Affiliates (including the Companies)
relating to the assets, business, operations, employees, officers, members or
directors of the Companies (collectively, the “Insurance Policies”), including
the annual premium, deductible and coverage limits for each Insurance Policy.
True and correct copies of each Insurance Policy have been made available to
Buyer. Neither the Sellers nor any of their Affiliates (including the Companies)
has received any written notice of cancellation of, premium increase with
respect to, alteration of coverage under, or non-renewal or conditional renewal
of, any of such Insurance Policies. All premiums then currently due and payable
on such Insurance Policies as of the Closing Date will have been paid at or
prior to the Closing. The Insurance Policies do not provide for any
retrospective premium adjustment or other experience-based liability on the part
of any Company. All such Insurance Policies (a) are valid and binding in
accordance with their terms, (b) are, to Sellers’ Knowledge, provided by
carriers who are financially solvent and (c) have not been subject to any lapse
in coverage. There are no claims related to the business of the Companies
pending under any such Insurance Policies as 18 302010047 v18

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[exhibit103eaglesecuritie024.jpg]
to which coverage has been questioned, denied or disputed or in respect of which
there is an outstanding reservation of rights. None of Sellers or any of their
Affiliates (including the Companies) is in default under, or has otherwise
failed to comply with, in any material respect, any provision contained in any
such Insurance Policy. To Sellers’ Knowledge, the Insurance Policies are of the
type and in the amounts customarily carried by Persons conducting a business
similar to the Companies. The Insurance Policies are sufficient for compliance
with all Contracts to which any Company is a party or by which it is bound and,
to Sellers’ Knowledge, for compliance with all Laws. In connection with the
underwriting of the Environmental Site Liability Insurance policy (the “PLL
Policy” ) or any previous policy for which the PLL Policy is a renewal thereof,
Sellers and the Companies disclosed (i) all discharges, dispersals, seepages,
migrations, releases or escapes of any solid, liquid, gaseous or thermal
irritant or contaminant that contained any Emerging Contaminant into or upon
land, or any structure on land, the atmosphere or any groundwater, watercourse
or body of water, in each case that were known to Sellers or any officer,
director or partner of the Companies, any manager of the Real Property, or the
manager or supervisor of the Companies responsible for environmental affairs,
control or compliance and (ii) all documents contained in the folder “Project
Eagle 2019>Insurance>PLL Underwriting” in the Workshare document repository
maintained by Sellers. Section 3.15 Legal Proceedings; Orders. (a) Except as set
forth on Section 3.15(a) of the Disclosure Schedules, there are no Actions
pending or, to Sellers’ Knowledge, threatened (i) against or by any Company, any
Seller or any Affiliate of any Seller that challenges or seeks to prevent,
enjoin or otherwise delay the transactions contemplated by this Agreement and
(ii) against or by any Company or affecting any Company’s properties or assets,
including the Real Property (or by or against Sellers or any Affiliate thereof
and relating to any Company). No event has occurred or circumstances exist that
may give rise to, or serve as a basis for, any such Action. (b) There are no
outstanding Orders and no unsatisfied judgments, penalties or awards against or
affecting any Company or any Company’s properties or assets, including the Real
Property (or against any Seller or any Affiliate thereof and relating to the
Companies). Section 3.16 Compliance with Laws; Permits. (a) Except as set forth
on Section 3.16(a) of the Disclosure Schedules, each Company is in compliance,
and for the past ten (10) years has been in compliance, in all material
respects, with all Laws and Orders applicable to it or its business, properties
or assets, including the Real Property. Except as set forth on Section 3.16(a)
of the Disclosure Schedules, no Company, nor any of the executive officers of
any Company, has received during the past ten (10) years, nor, to Sellers’
Knowledge, is there any basis for, any notice, Order, complaint or other
communication from any Governmental Authority or any other Person that any
Company is not in compliance, in all material respects, with any Law or Order
applicable to it. (b) Except as set forth on Section 3.16(b)(i) of the
Disclosure Schedules, all Permits material to the conduct of each Companies’
business and the maintenance of the Real Property have been obtained by such
Company and are valid and in full force and effect and to Seller’s Knowledge
there is no pending Action with respect to potential loss, expiration or
suspension of, any Permit. Section 3.16(b)(ii) of the Disclosure Schedules sets
forth a true, correct and complete list of all current Permits issued to each
Company, including the names of the Permits and their respective dates of
issuance and expiration. No event has occurred that, with or without notice or
lapse of time or both, would, to Sellers’ Knowledge, reasonably be expected to
result in the revocation, suspension, lapse or limitation of any Permit set
forth or required to be set forth in Section 3.16(b)(ii) to the Disclosure
Schedules. 19 302010047 v18

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[exhibit103eaglesecuritie025.jpg]
Section 3.17 Environmental Matters. (a) Except as set forth on Section 3.17(a)
of the Disclosure Schedules, each Company is in compliance, and since January 1,
2007, has been in compliance, in all material respects, with (i) all
Environmental Laws and (ii) all Environmental Permits necessary for the
ownership, lease, operation or use of the business or assets, or occupation of
the facilities of such Company. All such Environmental Permits are valid and in
full force and effect in accordance with all Environmental Laws, and there is no
pending Action with respect to or, to Sellers’ Knowledge, potential loss,
expiration, or suspension of any Environmental Permit. No event has occurred
that, with or without notice or lapse of time or both, would, to Sellers’
Knowledge, reasonably be expected to result in the revocation, suspension, lapse
or limitation of any such Environmental Permits. No Company or Seller has
received from any Person any: (i) Environmental Notice or Environmental Claim;
or (ii) request for information pursuant to Environmental Law, which, in each
case, either remains pending or unresolved, or is the source of ongoing
investigatory, remedial or corrective obligations or requirements as of the
Closing Date. (b) Except as set forth on Section 3.17(b) of the Disclosure
Schedules, since January 1, 2007, there has been no (i) generation, manufacture,
refinement, transportation, treatment, storage, handling, disposal, arrangement
for or permitting for the disposal, transfer, production, recycling or
processing of any Hazardous Materials by any Company except in material
compliance with all applicable Environmental Laws, (ii) Release of Hazardous
Materials in contravention of Environmental Law with respect to the business or
assets of any Company or any real property currently or formerly owned, operated
or leased by any Company, including the Real Property, or (iii) violation of
Environmental Law or term of any Environmental Permit by, any Seller or any
Company. Except as set forth on Section 3.17(b) of the Disclosure Schedules, no
Company has retained or assumed, by contract or operation of Law, any
Liabilities of any other Person relating to under Environmental Law, including
any obligation for corrective or remedial action. (c) Except as set forth on
Section 3.17(c) of the Disclosure Schedules, none of the following exists at any
real property or facility currently or previously owned, operated or leased in
connection with the business of the Companies, including the Real Property: (i)
under- or above-ground storage tanks, (ii) materials or equipment containing
polychlorinated biphenyls, (iii) asbestos or asbestos- containing materials in
any form or (iv) landfills, surface impoundments or disposal areas. (d) Sellers
have provided or otherwise made available to Buyer true, correct and complete
copies of: (i) any and all environmental reports, studies, audits, records,
sampling data, site assessments, risk assessments, and other similar documents
with respect to the business or assets of the Companies or any currently or
previously owned, operated or leased real property that are in the possession or
control of any Seller or any Company related to compliance with Environmental
Laws, Environmental Claims or an Environmental Notice or the Release of
Hazardous Materials; and (ii) any and all material documents concerning planned
or anticipated capital expenditures required to reduce, offset, limit or
otherwise control pollution and/or emissions, manage waste or otherwise ensure
compliance with current or future Environmental Laws (including costs of
remediation, pollution control equipment and operational changes). (e) This
Agreement and the transactions contemplated hereby will not result in any
Liabilities for site investigation or cleanup, or require the consent of any
Person, pursuant to any Environmental Laws, including any so-called
“transaction-triggered” or “responsible property transfer” requirements. (f)
Notwithstanding any other representation or warranty in Article III of this
Agreement, the representations and warranties contained in this Section 3.17
constitute the sole 20 302010047 v18

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[exhibit103eaglesecuritie026.jpg]
representations and warranties of the Companies and Sellers regarding matters
relating to any Environmental Law, Environmental Notice or Environmental Permit.
Section 3.18 Employee Benefit Matters. (a) Section 3.18(a) of the Disclosure
Schedules contains a true and complete list of each pension, benefit,
retirement, executive compensation, profit-sharing, deferred compensation,
incentive, performance award, phantom equity, stock or stock-based, or other
equity, change in control, retention, severance, salary continuation,
employment, consulting, disability, death benefit, group insurance,
hospitalization, medical, dental, life, Code Section 125 “cafeteria” or
“flexible” benefit, employee loan, educational assistance, vacation, paid time
off, fringe-benefit or perk (including any benefit or payments made to or on
behalf of employees, such as gym memberships, car allowances or similar
arrangements or benefits) and other similar plan, policy, program, agreement or
payroll practice (and any amendments thereto, and including any funding
mechanism therefor now in effect or required in the future as a result of the
transaction contemplated by this Agreement or otherwise), in each case whether
or not reduced to writing and whether funded or unfunded, including each
“employee benefit plan” as defined in Section 3(3) of ERISA, whether or not
tax-qualified and whether or not subject to ERISA, that is maintained,
sponsored, contributed to, or required to be contributed to by any Company (or,
where indicated below, any ERISA Affiliate of any Company) for the benefit of
any current or former employee, leased employee, officer, director, consultant
or agent of any Company (or, where indicated below, any ERISA Affiliate of any
Company) or any spouse or dependent or other beneficiary of such individual, or
under which any Company has or may have any Liability contingent or otherwise
(as listed on Section 3.18(a) of the Disclosure Schedules, each, a “Benefit
Plan”). (b) With respect to each Benefit Plan, Sellers have made available to
Buyer accurate, current and complete copies of each of the following, to the
extent applicable: (i) where the Benefit Plan has been reduced to writing, the
most recent plan document together with all amendments thereto; (ii) where the
Benefit Plan has not been reduced to writing, Section 3.18(a) of the Disclosure
Schedules sets forth an accurate written summary of all material plan terms;
(iii) any trust agreements or other funding instruments or arrangements and all
other material contracts with respect to such Benefit Plan (including all
custodial agreements, insurance policies and contracts, administration
agreements, and investment management or investment advisory agreements); (iv)
the most recent summary plan description, summaries of material modifications
and any other written communication by any Company to its employees concerning
the extent of the benefits provided under a Benefit Plan; (v) the most recent
determination letter from the Internal Revenue Service; (vi) the three most
recent Forms 5500, with schedules attached; (vii) actuarial valuations and
reports related to any Benefit Plans with respect to the most recently completed
plan year; (viii) all discrimination tests for the three most recent plan years;
and (ix) all correspondence with the Internal Revenue Service, Department of
Labor (the “DOL”) and any other Governmental Authority relating to the Benefit
Plan. (c) Each Benefit Plan has been established, administered and maintained in
all material respects in accordance with its terms and in material compliance
with all Laws (including ERISA and the Code). With respect to each Benefit Plan,
all reports, returns, notices and other documentation that is required to have
been filed with or furnished to the Internal Revenue Service, the DOL or any
other Governmental Authority, or to the participants or beneficiaries of such
Benefit Plan, have been filed in or furnished on a timely basis. Each Benefit
Plan that is intended to be qualified under Section 401(a) of the Code (a
“Qualified Benefit Plan”) is so qualified and has received a favorable and
current determination letter from the Internal Revenue Service to the effect
that such Qualified Benefit Plan satisfies the requirements of Section 401(a) of
the Code and that its related trust is exempt from taxation under Section 501(a)
of the Code, and, to the Knowledge of Sellers, there are no facts or
circumstances that could reasonably be expected to cause the loss of such
qualification or the imposition of any material Liability, 21 302010047 v18

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[exhibit103eaglesecuritie027.jpg]
penalty or Tax under ERISA, the Code or any other Law. No individual who has
performed services for any Company has been improperly excluded from
participation in any Benefit Plan. There are no audits or proceedings initiated
under the Internal Revenue Service Employee Plans Compliance Resolution System
(currently set forth in Revenue Procedure 2013-12) or similar proceedings
pending with the Internal Revenue Service or DOL with respect to any Benefit
Plan. (d) No Company nor any of their respective ERISA Affiliates has, or has
had, any liability or obligation to contribute to any Benefit Plan that is
subject to Title IV of ERISA or related provisions of the Code or foreign Law
relating to employee benefit plans. (e) None of the Benefit Plans (including for
such purpose any “employee benefit plan,” as defined in Section 3(3) of ERISA),
previously maintained or contributed to by any Company or any of their
respective ERISA Affiliates (i) is a “multiple employer plan” within the meaning
of Section 413(c) of the Code or a “multiple employer welfare arrangement” as
defined in Section 3(40) of ERISA; (ii) is or at any time in the past six (6)
years was funded through a “welfare benefit fund” as defined in Section 419(e)
of the Code; (iii) currently provides or at any time in the past six (6) years
has provided benefits through a voluntary employee’s beneficiary association
(within the meaning of Section 501(c)(9) of the Code) or a supplemental
unemployment benefit plan (within the meaning of Section 501(c)(17) of the
Code); or (iv) is a “pension plan” as defined in Section 3(2) of ERISA that is
not intended to be qualified under Section 401(a) of the Code. (f) Except as
required by Law, no provision of any Benefit Plan could reasonably be expected
to result in any limitation on Buyer or any of its Affiliates from amending,
merging or terminating any Benefit Plan. No Company has any commitment or
obligation nor has made any representations to any employee, officer, director,
manager, independent contractor or consultant, whether or not legally binding,
to adopt, amend or modify, in any material respect, any Benefit Plan or any
Collective Bargaining Agreement, in connection with the consummation of the
transactions contemplated by this Agreement. (g) Other than as required under
Part 6 of Subtitle B of Title I of ERISA or other Law, no Benefit Plan provides
post-termination or retiree welfare benefits to any individual for any reason,
and no Company nor any of their respective ERISA Affiliates has any Liability to
provide post-termination or retiree welfare benefits to any individual. (h)
Other than routine claims for benefits, there is no pending or, to Sellers’
Knowledge, contemplated or threatened Action or lien relating to any Benefit
Plan. (i) No Company, nor, to Sellers’ Knowledge, any other “party in interest”
or “disqualified person” with respect to any Benefit Plan has engaged in a
non-exempt “prohibited transaction” as defined in Section 406 of ERISA or
Section 4975 of the Code involving such Benefit Plan that could reasonably be
expected to subject any Company to a material Tax or penalty imposed by Section
4975 of the Code or Section 501, 502 or 510 of ERISA. To Sellers’ Knowledge, no
fiduciary has any liability for breach of fiduciary duty or any other failure to
act or comply with the requirements of ERISA, the Code or any other Law in
connection with the administration or investment of the assets of any Benefit
Plan. (j) With respect to each Benefit Plan that is a “group health plan” as
defined in Section 607(1) of ERISA, each Company and each ERISA Affiliate of
each Company has complied in all material respects with the continuation
coverage requirements of Part 6 of Subtitle B of Title I of ERISA and Section
4980B of the Code. (k) Each Benefit Plan that is subject to Section 409A of the
Code has been operated in compliance with such section and all applicable
regulatory guidance (including notices, rulings and 22 302010047 v18

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[exhibit103eaglesecuritie028.jpg]
proposed and final regulations) since January 1, 2007. (l) Each individual who
is classified by any Company as an independent contractor or as an employee has
been properly classified in all material respects for purposes of participation
and benefit accrual under each Benefit Plan. No Company has any Liability with
respect to any employee leased from another employer. (m) Neither the execution
of this Agreement nor any of the transactions contemplated by this Agreement
will (either alone or in combination with another event): (i) entitle any
current or former director, officer, employee, independent contractor or
consultant (or their respective beneficiaries) of any Company to severance pay
or any other payment; (ii) accelerate the time of payment, funding or vesting,
or increase the amount of compensation due to any such individual; (iii)
increase the amount payable under or result in any other material obligation
pursuant to any Benefit Plan; or (iv) result in the payment of any amount that
could, individually or in combination with any other such payment, constitute an
“excess parachute payment” as defined in Section 280G(b)(1) of the Code. No
current or former director, officer, employee, independent contractor or
consultant (or their respective beneficiaries) has or will obtain a right to
receive a gross-up payment from any Company with respect to any excise taxes
that may be imposed on such individual pursuant to Section 409A of the Code,
Section 4999 of the Code or otherwise. (n) No Benefit Plan covers any officers
or employees (or their respective beneficiaries) of any Company outside of the
United States. Section 3.19 Employment Matters. (a) Section 3.19(a) of the
Disclosure Schedules contains a list of all individuals who are employees,
independent contractors or consultants of each Company as of the date hereof,
and sets forth for each such individual the following: for employees (i) name;
(ii) title or position (including whether full- or part-time); (iii) hire date;
(iv) current annual base compensation rate (or hourly rate); (v) exempt/non-
exempt status; (vi) the amount(s) of commission, bonus or other incentive-based
compensation the individual is eligible to receive pursuant to any written
agreement, or, if the individual is not party to any such written agreement,
then such amount(s) paid during the most recently completed fiscal year; and
(vii) accrued unused vacation, and, for independent contractors or consultants,
(i) name; (ii) description of services; (iii) length of engagement; (iv) whether
the independent contractor or consultant is engaged pursuant to a written
agreement; (v) method of compensation; and (vi) rate of compensation. As of the
date hereof, all compensation, including wages, commissions and bonuses, due and
payable to employees, independent contractors or consultants of each Company for
services performed on or prior to the date hereof have been paid in full (or
accrued in full on the balance sheet contained in the Closing Statement) and
there are no outstanding agreements, understandings or commitments of any
Company with respect to any compensation, commissions or bonuses. (b) (i) No
Company is, nor has been for the past three (3) years, a party to, bound by or
otherwise subject to any collective bargaining agreement, works council
agreement, labor union contract, trade union agreement or other similar
agreement or other Contract (each, a “Collective Bargaining Agreement”) with a
union, works council or labor organization (each, a “Union”); (ii) as of the
date hereof, no Collective Bargaining Agreement is being negotiated by any
Company; (iii) there is not, and has not been for the past three (3) years, any
Union representing or purporting to represent any employee of any Company, and,
to Sellers’ Knowledge, no Union or group of employees is seeking or has sought
to organize employees for the purpose of collective bargaining, made a demand
for recognition or certification, sought to bargain collectively with any
Company or filed a petition for recognition with any Governmental Authority; and
(iv) there has not been during the past three (3) years, nor to the Knowledge of
Sellers has there been during the past three (3) years any threat of, any
strike, slowdown, work stoppage, lockout, 23 302010047 v18

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[exhibit103eaglesecuritie029.jpg]
boycott, handbilling, picketing, walkout, demonstration, leafleting, sit-in,
sick-out, material grievance, concerted refusal to work overtime or other
collective bargaining form of organized protest dispute, and no such action is
pending or, to Sellers’ Knowledge, threatened. No consent, approval, declaration
or filing with or notice to a Union is required by Law, pursuant to any
Collective Bargaining Agreement or pursuant to any other Material Contract in
connection with the execution and delivery of this Agreement and the other
Transaction Documents and the consummation of the transactions contemplated
hereby and thereby. (c) Except as set forth on Section 3.19(c) of the Disclosure
Schedules, (i) each Company is, and has been for the past six (6) years, in
compliance in all material respects with all applicable Laws relating to the
employment of labor, including provisions thereof relating to wages, hours,
equal employment opportunity, employment practices, the hiring, promotion,
assignment and termination of employees, discrimination, disability, labor
relations, hours of work, payment of wages, immigration, workers’ compensation,
employee benefits, working conditions, occupational safety and health, family
and medical leave, data privacy, data protections and collective bargaining;
(ii) within the past six (6) years, each person or entity classified by any
Company as an “independent contractor,” consultant, volunteer, subcontractor,
“temp,” leased employee or other contingent worker is and has been properly
classified under all governing Laws, and each Company has fully and accurately
reported all payments to all independent contractors and other contingent
workers on Internal Revenue Service Form 1099s or as otherwise required by Laws;
(iii) within the past six (6) years, each employee classified as “exempt” from
overtime under the Fair Labor Standards Act (“FLSA”) and any state laws
governing wages, hours and overtime pay has been properly classified as such,
and no Company has incurred any liabilities under the FLSA or any state wage and
hour laws; (iv) within the past six (6) years, each employee not subject to the
FLSA has been properly categorized according to Law, and has been paid overtime
wages consistent with Law; (v) there are no workers’ compensation claims pending
against any Company; (vi) to the Sellers’ Knowledge, no employee of any Company
is subject to any secrecy or noncompetition agreement or any other agreement or
restriction of any kind that would impede in any way the ability of such
employee to carry out fully all activities of such employee in furtherance of
Buyer’s operation of the Companies’ business after Closing; (vii) each of the
employees of each Company has all work permits, immigration permits, visas or
other authorizations required by law for such employee given the duties and
nature of such employee’s employment; (viii) all employees of each Company are
legally employed, and each Company is in compliance with all requirements of the
Immigration and Reform Control Act of 1986, except to the extent that failure to
so comply would not have, individually or in the aggregate, a Material Adverse
Effect; (ix) there are no pending or, to the Sellers’ Knowledge, threatened
lawsuits, grievances, unfair labor practice charges, arbitrations, charges,
investigations, hearings, actions, claims or proceedings (including any
administrative investigations, charges, claims, actions or proceedings), against
any Company brought by or on behalf of any applicant for employment, any current
or former employee, representative, agent, consultant, independent contractor,
subcontractor or any leased employee, volunteer or “temp” of any Company, or any
group or class of any of the foregoing, in each case in connection with his or
her affiliation with, or the performance of his, her or their duties to, any
Company, any person alleging to be a current or former employee, or any group or
class of any of the foregoing, or any Governmental Authority, or alleging
violation of any labor or employment laws, breach of any Collective Bargaining
Agreement, breach of any express or implied contract of employment, wrongful
termination of employment or any other discriminatory, wrongful or tortious
conduct in connection with the employment relationship; (x) no individual has
been improperly excluded from, or wrongly denied benefits under, any Benefit
Plan; and (xi) each Company is in material compliance with the terms of the
Collective Bargaining Agreements and other Contracts listed on Section 3.19(c)
of the Disclosure Schedules. (d) Within the past six (6) years, no Company has
failed to provide advance notice of layoffs or terminations as required by the
WARN Act or any state or local Laws, or any Law for employees outside the United
States, regarding the termination or layoff of employees, and no Company has
incurred any liability or obligation under the WARN Act or any such other laws.
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Section 3.20 Taxes. (a) All Tax Returns required to be filed on or before the
Closing Date by each Company have been, or will be, timely filed with the
requisite Governmental Authority. Such Tax Returns are, or will be, true,
complete and correct in all respects. All Taxes due and owing by each Company
(whether or not shown on any Tax Return) have been, or will be, timely paid. (b)
Each Company has withheld and paid all Taxes required to have been withheld and
paid in connection with amounts paid or owing to any employee, independent
contractor, creditor, customer, shareholder, member or other party, and has
filed (or caused to be filed) all associated Tax Returns and has complied with
all backup withholding provisions of Law. (c) No claim has been made by any
Governmental Authority in any jurisdiction to the effect that any Company did
not file a Tax Return that it was required to file or pay a type of Tax that it
was required to pay. No extensions or waivers of statutes of limitations have
been given or requested with respect to any Taxes of any Company. No power of
attorney has been executed by or on behalf of any Company with respect to Taxes
that is currently in force. (d) At all times since inception, (i) each Company
other than MPD LLC (collectively, the “S Corporations”) has validly elected and
consistently been treated as an “S corporation” within the meaning of Code
Section 1361(a) and has validly and consistently been treated in a similar
manner for purposes of the income tax laws of all states in which it has been
subject to taxation. None of the S Corporations has taken any position on any
Tax return nor has there been any act or omission by any Person that could form
the basis for any revocation, termination or invalidity of such S Corporation’s
S corporation status. None of the S corporations is subject to the Tax under
Section 1374 of the Code. No S Corporation has in the past ten (10) years (i)
acquired assets from another Person in a transaction in which the Tax basis of
the acquired assets was determined, in whole or in part, by reference to the Tax
basis of the acquired assets (or any other property) in the hands of the
transferor; or (ii) acquired the stock of any Person that is a “qualified
subchapter S subsidiary” within the meaning of Section 1361(b)(3)(B) of the Code
(a “Qsub”). (e) MPD LLC is taxed as partnership for U.S. federal income tax
purposes. (f) The amount of each Company’s Liability for unpaid Taxes for all
periods ending on or before December 31, 2019 does not, in the aggregate, exceed
the amount of accruals for Taxes (excluding reserves for deferred Taxes)
reflected on the Financial Statements. The amount of each Company’s Liability
for unpaid Taxes for all periods following the end of the recent period covered
by the Financial Statements shall not, in the aggregate, exceed the amount of
accruals for Taxes (excluding reserves for deferred Taxes) as adjusted for the
passage of time in accordance with the past custom and practice of such Company.
(g) Section 3.20(g) of the Disclosure Schedules sets forth: (i) the taxable
years of each Company as to which the applicable statutes of limitations on the
assessment and collection of Taxes have not expired; (ii) those years for which
examinations by Governmental Authorities have been completed; and (iii) those
taxable years for which examinations by Governmental Authorities are presently
being conducted. 25 302010047 v18

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(h) All deficiencies asserted, or assessments made, against any Company as a
result of any examinations by any Governmental Authority have been fully paid.
(i) No Company is a party to any Tax dispute by any Governmental Authority.
There is no pending or threatened Tax dispute against any Company by any
Governmental Authority. (j) Sellers have delivered or made available to Buyer
true, correct and complete copies of all Tax Returns, examination reports and
statements of deficiencies assessed against, or agreed to by, each Company for
all Tax periods ending in the last three fiscal years. (k) There are no
Encumbrances for Taxes (other than for current Taxes not yet due and payable)
upon the assets of any Company. (l) No Company is a party to, or bound by, (i)
any Tax indemnity, Tax-sharing, Tax allocation or similar agreement or (ii) any
closing agreement, gain recognition agreement, offer in compromise or any other
agreement with any Governmental Authority with respect to Taxes of any Company.
No private letter rulings, technical advice memoranda or similar rulings have
been requested, entered into or issued by any Governmental Authority with
respect to Taxes of any Company. (m) For United States federal Tax purposes, no
Company has been a member of an affiliated, combined, consolidated or unitary
Tax group. No Company has Liability for Taxes of any Person under Treasury
Regulations Section 1.1502-6 (or any corresponding provision of state, local or
foreign Law), as transferee or successor, by contract or otherwise. (n) No
Company has agreed to make, nor is required to make, any adjustment under
Sections 481(a) or 263A of the Code or any comparable provision of state, local
or foreign Tax Laws by reason of a change in accounting method or otherwise. No
Company has taken any action that could defer a Liability for Taxes of any
Company from any Pre-Closing Tax Period to any Post-Closing Tax Period. (o) No
Seller is a “foreign person” as that term is used in Treasury Regulations
Section 1.1445-2. (p) No Company has been (i) a party to any joint venture,
partnership or other arrangement of contract that could be treated as a
partnership for federal income Tax purposes; (ii) a “distributing corporation”
or a “controlled corporation” in connection with a distribution described in
Section 355 of the Code; or (iii) a personal holding company under Section 542
of the Code. (q) No Company has (i) taken a reporting position on a Tax Return
that, if not sustained, would be reasonably likely to give rise to a penalty for
substantial understatement of federal income Tax under Section 6662 (or any
similar provision of state, local or foreign Tax law), without regard to the
disclosure thereof, or (ii) engaged in any transaction that would constitute a
“reportable transaction” within the meaning of Section 6707A(c)(1) of the Code
and Treasury Regulations Section 1.6011-4(b). (r) None of the assets of any
Company is property that such Company is required to treat as being owned by any
other person pursuant to the so-called “safe harbor lease” provisions of former
Section 168(f)(8) of the Internal Revenue Code of 1954, as amended. Section 3.21
Product Warranties. Section 3.21 of the Disclosure Schedules sets forth all the
terms and conditions of any product or service express warranties given by any
Company. The aggregate amount of Losses incurred by reason of allowances,
customer dissatisfaction or Liabilities arising under such warranties and
guarantees did not exceed the lesser of ten percent (10%) of the applicable 26
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[exhibit103eaglesecuritie032.jpg]
consideration received with respect to any applicable purchase order and
$5,000.00 per purchase order during any of the five (5) years preceding the date
hereof. Section 3.22 Performance Bonds. Section 3.22 of the Disclosure Schedules
sets forth a true, correct and complete list of (a) all Contracts for which, or
legal requirements pursuant to which, any Company has, or is required to
provide, performance or surety bonds or similar instruments, (b) the amount of
such bonds, (c) the Person issuing such bonds, and (d) each such bond number
(such bonds referenced thereon collectively, the “Performance Bonds”). Section
3.22 of the Disclosure Schedules further identifies all payments, if any, that
have been made during the five (5) years preceding the date hereof under any
Performance Bond. Section 3.23 Accounts with Banks and Brokerages; Powers of
Attorney. Section 3.23 of the Disclosure Schedules sets forth a true, correct
and complete list of (a) the name of each financial institution or brokerage
firm in which each Company has accounts or safe deposit boxes, (b) the names in
which the accounts or boxes are held, (c) the type of account and (d) the name
of each Person authorized to draw thereon or have access thereto. No Person
holds a general or special power of attorney from any Company. Section 3.24
Absence of Certain Business Practices. No Company, no Seller nor any of their
respective Affiliates has directly or indirectly made any contribution, gift,
bribe, rebate, payoff, influence payment, kickback, or other payment to any
Person, private or public, regardless of form, whether in money, property or
services (a) to obtain favorable treatment in securing business for any Company
in violation of Law, (b) to pay for favorable treatment for business secured by
any Company in violation of Law, or (c) to obtain special concessions or for
special concessions already obtained, in each case for the benefit of any
Company in violation of Law. Section 3.25 Affiliate Interests. Except as set
forth on Section 3.25 of the Disclosure Schedules, no Related Party of any
Company: (a) owns or has owned, directly or indirectly, any equity or other
financial or voting interest in any competitor, supplier, licensor, lessor,
distributor, independent contractor or customer of any Company or the Companies’
business (including any Material Customer or Material Supplier); (b) owns or has
owned, directly or indirectly, or has or has had any interest in any property
(real or personal, tangible or intangible) that any Company or the Companies’
business uses or has used in or pertaining to the business of the Companies; (c)
has or has had any business dealings or a financial interest in any transaction
with any Company or the Companies’ business or involving any assets or property
of any Company or the Companies’ business; or (d) is or has been employed by any
Company (such matters set forth on or required to be set forth on Section
3.08(a)(xv) or Section 3.25 of the Disclosure Schedules, the “Related Party
Matters”). Section 3.26 Capital Expenditures. Section 3.26 of the Disclosure
Schedules sets forth a true, correct and complete copy of the Companies’ capital
expenditure budget, which budget sets forth the total amount of capital
expenditures currently budgeted to be incurred by the Companies in excess of
$50,000 in the aggregate on any project or series of related projects, during
the balance of the Companies’ current fiscal year. Section 3.27 Indebtedness.
Except as set forth on Section 3.27 of the Disclosure Schedules, no Company has
any Indebtedness (any Indebtedness set forth, or required to be set forth on, in
Section 3.27 of the Disclosure Schedule, “Company Indebtedness”). Section 3.28
Brokers. No broker, finder or investment banker is entitled to any brokerage,
finder’s or other fee or commission in connection with the transactions
contemplated by this Agreement or any other Transaction Document based upon
arrangements made by or on behalf of any Company. 27 302010047 v18

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Section 3.29 Full Disclosure. No representation or warranty by Sellers in this
Agreement, as modified by the Disclosure Schedules, contains any untrue
statement of a material fact, or omits to state a material fact necessary to
make the statements contained therein, in light of the circumstances in which
they are made, not misleading. ARTICLE IV REPRESENTATIONS AND WARRANTIES
REGARDING SELLERS Each Seller, severally and not jointly, represents and
warrants to Buyer as follows: Section 4.01 Authority of Seller. Such Seller has
full power and authority to enter into this Agreement and the other Transaction
Documents to which such Seller is a party, to carry out its obligations
hereunder and thereunder and to consummate the transactions contemplated hereby
and thereby. The execution and delivery by such Seller of this Agreement and any
other Transaction Document to which such Seller is a party, the performance by
such Seller of its obligations hereunder and thereunder and the consummation by
such Seller of the transactions contemplated hereby and thereby have been duly
authorized by all requisite action on the part of such Seller. This Agreement
has been duly executed and delivered by such Seller, and (assuming due
authorization, execution and delivery by Buyer) this Agreement constitutes a
legal, valid and binding obligation of such Seller enforceable against such
Seller in accordance with its terms, except that (a) such enforcement may be
subject to any bankruptcy, insolvency, reorganization, moratorium, fraudulent
transfer or other laws, now or hereafter in effect, relating to or limiting
creditors’ rights generally and (b) the remedy of specific performance and
injunctive and other forms of equitable relief, may be subject to equitable
defenses and to the discretion of the court before which any proceeding therefor
may be brought. When each other Transaction Document to which such Seller is or
will be a party has been duly executed and delivered by such Seller (assuming
due authorization, execution and delivery by each other party thereto), such
Transaction Document will constitute a legal and binding obligation of such
Seller enforceable against it in accordance with its terms, except that (i) such
enforcement may be subject to any bankruptcy, insolvency, reorganization,
moratorium, fraudulent transfer or other laws, now or hereafter in effect,
relating to or limiting creditors’ rights generally and (ii) the remedy of
specific performance and injunctive and other forms of equitable relief, may be
subject to equitable defenses and to the discretion of the court before which
any proceeding therefor may be brought. Section 4.02 Title to Securities. Such
Seller has good and marketable title to and is the legal and beneficial owner of
the Securities described on Exhibit A as being owned by such Seller, free and
clear of any and all Encumbrances, and such Seller has the right, authority and
power to sell, assign and transfer such Securities pursuant to this Agreement
and the other Transaction Documents. Upon delivery to Buyer of certificates for
such Securities at the Closing, Buyer shall acquire good, valid and marketable
title to such Securities, free and clear of any and all Encumbrances other than
Encumbrances created by Buyer on or after the Closing. Section 4.03 No
Conflicts. Except as set forth on Section 4.03 of the Disclosure Schedules, the
execution, delivery and performance by such Seller of this Agreement and the
other Transaction Documents to which it is a party, and the consummation of the
transactions contemplated hereby and thereby, do not and will not: (a) conflict
with or result in a violation or breach of, or default under, any provision of
the Organizational Documents of such Seller; (b) conflict with or result in a
violation or breach of any provision of any Law or Order applicable to such
Seller; or (c) require the consent, notice or other action by any Person under,
conflict with, result in a violation or breach of, constitute a default or an
event that, with or without notice or lapse of time or both, would constitute a
default under, result in the acceleration of or create in any party the right to
accelerate, terminate, modify or cancel any Contract to which such Seller is a
party. No consent, approval, Permit, Order, declaration or filing with or notice
to any Governmental 28 302010047 v18

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Authority is required by or with respect to such Seller in connection with the
execution and delivery of this Agreement and the other Transaction Documents and
the consummation of the transactions contemplated hereby and thereby. Section
4.04 Brokers. No broker, finder or investment banker is entitled to any
brokerage, finder’s or other fee or commission in connection with the
transactions contemplated by this Agreement or any other Transaction Document
based upon arrangements made by or on behalf of the Sellers or any of their
Affiliates. Section 4.05 Legal Proceedings. There are no Actions pending or, to
the Knowledge of Sellers, threatened against or by any Seller or any Affiliate
of any Seller that challenge or seek to prevent, enjoin or otherwise delay the
transactions contemplated by this Agreement. No event has occurred or
circumstances exist that may give rise or serve as a basis for any such Action.
Section 4.06 Tax Matters. No Seller has taken any position on any Tax return nor
has there been any act or omission by any Person that could form the basis for
any revocation or invalidity of any S Corporation’s S corporation status. Each
Seller has filed all Tax Returns on a basis consistent with the Forms K-1 issued
by each Company to such Seller and has paid all Taxes attributable to the
ownership and operation of the business conducted by each Company. Section 4.07
Disclaimer. THE REPRESENTATIONS AND WARRANTIES SET FORTH HEREIN ARE IN LIEU OF
ALL OTHER REPRESENTATIONS AND WARRANTIES, WHETHER STATUTORY, WRITTEN OR ORAL,
EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, IMPLIED WARRANTIES OF
MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT, AND
WARRANTIES ARISING FROM COURSE OF DEALING OR USAGE OF TRADE, ALL OF WHICH ARE
EXPRESSLY DISCLAIMED. In particular, without limiting the foregoing disclaimer,
neither the Companies or Sellers nor any other Person makes or has made any
representation or warranty to Buyer, any of its Affiliates or Representatives
with respect to any financial projection, forecast, estimate, budget or prospect
information relating to any Company or their respective businesses. ARTICLE V
REPRESENTATIONS AND WARRANTIES OF BUYER Buyer represents and warrants to Sellers
as follows: Section 5.01 Organization and Authority of Buyer. Buyer is a
corporation duly organized, validly existing and in good standing under the Laws
of the State of Delaware. Buyer has full corporate power and authority to enter
into this Agreement and the other Transaction Documents to which Buyer is a
party, to carry out its obligations hereunder and thereunder and to consummate
the transactions contemplated hereby and thereby. The execution and delivery by
Buyer of this Agreement and any other Transaction Document to which Buyer is a
party, the performance by Buyer of its obligations hereunder and thereunder and
the consummation by Buyer of the transactions contemplated hereby and thereby
have been duly authorized by all requisite corporate action on the part of
Buyer. This Agreement has been duly executed and delivered by Buyer, and
(assuming due authorization, execution and delivery by each Seller and each
Company) this Agreement constitutes a legal, valid and binding obligation of
Buyer enforceable against Buyer in accordance with its terms, except that (a)
such enforcement may be subject to any bankruptcy, insolvency, reorganization,
moratorium, fraudulent transfer or other laws, now or hereafter in effect,
relating to or limiting creditors’ rights generally and (b) the remedy of
specific performance and injunctive and other forms of equitable relief, may be
subject to equitable defenses and to the discretion of the court before which
any proceeding therefor may be brought. When each other Transaction Document 29
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to which Buyer is or will be a party has been duly executed and delivered by
Buyer (assuming due authorization, execution and delivery by each other party
thereto), such Transaction Document will constitute a legal and binding
obligation of Buyer enforceable against it in accordance with its terms, except
that (a) such enforcement may be subject to any bankruptcy, insolvency,
reorganization, moratorium, fraudulent transfer or other laws, now or hereafter
in effect, relating to or limiting creditors’ rights generally and (b) the
remedy of specific performance and injunctive and other forms of equitable
relief, may be subject to equitable defenses and to the discretion of the court
before which any proceeding therefor may be brought. Section 5.02 No Conflicts;
Consents. The execution, delivery and performance by Buyer of this Agreement and
the other Transaction Documents to which it is a party, and the consummation of
the transactions contemplated hereby and thereby, do not and will not: (a)
conflict with or result in a violation or breach of, or default under, any
provision of the Organizational Documents of Buyer; (b) conflict with or result
in a violation or breach of any provision of any Law or Order applicable to
Buyer; or (c) require the consent, notice or other action by any Person under,
conflict with, result in a violation or breach of, constitute a default or an
event that, with or without notice or lapse of time or both, would constitute a
default under, result in the acceleration of or create in any party the right to
accelerate, terminate, modify or cancel any Contract to which such Buyer is a
party. No consent, approval, Permit, Order, declaration or filing with or notice
to any Governmental Authority is required by or with respect to Buyer in
connection with the execution and delivery of this Agreement and the other
Transaction Documents and the consummation of the transactions contemplated
hereby and thereby. Section 5.03 Brokers. No broker, finder or investment banker
is entitled to any brokerage, finder’s or other fee or commission in connection
with the transactions contemplated by this Agreement or any other Transaction
Document based upon arrangements made by or on behalf of Buyer. Section 5.04
Legal Proceedings. There are no Actions pending or, to Buyer’s knowledge,
threatened against or by Buyer or any Affiliate of Buyer that challenge or seek
to prevent, enjoin or otherwise delay the transactions contemplated by this
Agreement. No event has occurred or circumstances exist that may give rise or
serve as a basis for any such Action. Section 5.05 Investment Purpose. Buyer is
acquiring the Securities solely for its own account for investment purposes and
not with a view to, or for offer or sale in connection with, any distribution
thereof. Buyer acknowledges that the Securities are not registered under the
Securities Act of 1933, as amended, or any state securities laws, and that the
Securities may not be transferred or sold except pursuant to the registration
provisions of the Securities Act of 1933, as amended or pursuant to an
applicable exemption therefrom and subject to state securities laws and
regulations, as applicable. Buyer has such knowledge and experience in financial
and business matters that it is capable of evaluating the merits and risks of
the transactions contemplated by this Agreement. Buyer acknowledges that Sellers
have made available to Buyer and its Representatives the opportunity to ask
questions of Representatives of Sellers, to engage in due diligence, to visit
the Real Property, and to request information about the business, assets and
financial condition of the Companies. Notwithstanding the foregoing, Sellers
acknowledge that Buyer has relied on the representations and warranties of
Sellers and the Company herein and the other terms of this Agreement in
connection with its execution and delivery of this Agreement and its evaluation
of the transactions contemplated hereby. Buyer specifically acknowledges that,
except as expressly set forth herein, no representation or warranty has been
made, and that Buyer has not relied on any representation or warranty other than
those expressly set forth herein, including any representations or warranties as
to the accuracy of any projections, estimates or budgets, future revenues,
future results from operations, future cash flows, the future condition of the
Companies, Real Property, personal property, or any assets of the Companies. 30
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ARTICLE VI COVENANTS Section 6.01 Confidentiality. The Confidentiality Agreement
and the obligations of the parties thereunder shall terminate on the Closing.
For the avoidance of doubt, the fact that this Agreement has been entered into
between the parties, and the terms and conditions hereof, (a) shall be subject
to the terms of the Confidentiality Agreement, and (b) Sellers shall, and shall
cause each of their Affiliates (including, prior to the Closing, the Companies)
to, hold, and shall use their reasonable best efforts to cause their
Representatives to hold, in confidence and not disclose, directly or indirectly,
such matters, in each case except as disclosure hereof and thereof is expressly
contemplated and permitted pursuant to the terms and conditions of this
Agreement. From and after the Closing, Sellers shall, and shall cause each of
their Affiliates to, hold, and shall use their reasonable best efforts to cause
their Representatives to hold, in confidence and not disclose, directly or
indirectly, any and all information, whether written or oral, concerning the
Companies, including any and all Trade Secrets, proprietary information, and
confidential information of the Companies, except to the extent that Sellers can
show that such information is or becomes publicly available through no fault of
Sellers or any of their respective Affiliates or Representatives, or to the
extent necessary in connection with providing continuing services to the
Companies, in each case, at and in accordance with the request of the applicable
Company. If a Seller or any of his or her Affiliates or Representatives are
compelled to disclose any such information by judicial or administrative process
or by other requirements of Law, such Seller shall promptly notify Buyer in
writing and shall disclose only that portion of such information that such
Seller or his or her respective Affiliates or Representatives are advised by
their counsel in writing is legally required to be disclosed; provided, however,
that such Seller shall use, and cause his or her respective Affiliates and
Representatives to use, reasonable best efforts to obtain an appropriate
protective order or other reasonable assurance that confidential treatment will
be accorded such information, at the cost and expense of Buyer. Section 6.02
Non-competition; Non-solicitation. (a) Each Seller acknowledges the highly
competitive nature of the business of the Companies. In connection with the sale
of all of its Securities, including the Companies’ goodwill, in exchange for
good and valuable consideration offered to such Seller for its Securities, for a
period of five (5) years commencing on the Closing Date (the “Restricted
Period”), each of the Sellers (collectively, the “Non-Compete Parties”) agrees
that he or she shall not, and shall not permit any of his or her Affiliates to,
directly or indirectly, whether acting alone or as a partner, shareholder,
member joint venture, equity or security holder, officer, director, employee,
principal, agent, trustee, consultant, independent contractor or lender (other
than in connection with providing services to any Company or other Affiliate of
Buyer, including any entity acquired by any Company or Buyer or its Affiliates
after Closing, in each case, at and in accordance with the request of such
Company), (i) engage in or assist others in engaging in the Restricted Business
in the Territory; (ii) have an interest in any Person that engages, directly or
indirectly, in the Restricted Business in the Territory in any capacity,
including as a partner, shareholder, member, joint venture, equity or security
holder, officer, director, employee, principal, agent, trustee, consultant,
independent contractor or lender; or (iii) intentionally interfere in any
material respect with the business relationships (whether formed prior to or
after the date of this Agreement) between any Company and any customers or
suppliers of such Company. Notwithstanding the foregoing, each of the
Non-Compete Parties and their Affiliates may own, directly or indirectly, solely
as an investment, securities of any Person traded on any national securities
exchange only if such Non-Compete Party or Affiliate is not a controlling Person
of, or a member of a group which controls, such Person and does not, directly or
indirectly, own 1% or more of any class of securities of such Person. (b) During
the Restricted Period, the Non-Compete Parties shall not, and shall not permit
any of its Affiliates to, directly or indirectly, for themselves or another,
solicit for employment any 31 302010047 v18

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[exhibit103eaglesecuritie037.jpg]
current or former employee, contractor, or consultant of any Company, encourage
any such employee, contractor, or consultant to leave such employment or
contract period with Buyer or its Affiliates, or hire, retain, or otherwise
utilize the services of (whether as an employee, consultant, volunteer or
otherwise) any such employee, contractor, or consultant so solicited or
encouraged, except pursuant to a general solicitation that is not directed
specifically to any such employees, contractors, or consultants; provided,
however, that nothing in this Section 6.02(b) shall prevent the Non-Compete
Parties or any of their Affiliates from soliciting (i) after six months any
employee whose employment or contract has been terminated by the applicable
Company or Buyer, (ii) after six months from the date of termination of
employment or contract period, any employee, contractor, or consultant whose
employment or contract has been terminated by the employee, contractor, or
consultant or (iii) the individual set forth in Section 6.02(b) of the
Disclosure Schedules. (c) During the Restricted Period, the Non-Compete Parties
shall not, and shall not permit any of its Affiliates to, directly or
indirectly, for themselves or on behalf of another, solicit or entice, or
attempt to solicit or entice, any Person that (i) was on the Closing Date a
client or customer of any Company, (ii) is a Material Customer, (iii) to the
Knowledge of such Seller is, on the Closing Date, or has been within one year
prior to that time, a client or customer of any Company or potential client or
customer of any Company, or (iv) to the Knowledge of such Seller is, on the
Closing Date, or has been within one year prior to that time, actively solicited
by any Company to become a client or customer of any Company, with the intent of
diverting their business or services from any Company, including by requesting,
advising or inducing such Person to withdraw, curtail or cancel, or engage in
other activity that could adversely affect, the relationship such Person has
with any Company. (d) The Non-Compete Parties acknowledge and agree (i) that the
provisions of, and Sellers’ obligations under, Section 6.01 and Section 6.02 are
reasonable in scope and necessary for the protection of Buyer and its legitimate
business interests, and constitute a material inducement to Buyer to enter into
this Agreement and consummate the transactions contemplated by this Agreement,
(ii) that any of the Non-Compete Parties’ breach or threatened breach of any
provision or obligation in this Section 6.01 or Section 6.02 would give rise to
irreparable harm to Buyer for which monetary damages would not be an adequate
remedy, and (iii) that Buyer shall be entitled to seek and obtain, in addition
to any and all other rights and remedies that may be available to it in respect
of such breach, equitable relief, including a temporary restraining order, an
injunction, specific performance and any other relief that may be available from
a court of competent jurisdiction, to prevent and/or remedy such a breach or
threatened breach (without first having to demonstrate any actual damage, post
any bond or furnish any other security interest thereof). In any proceeding for
an injunction and upon any motion for a temporary or permanent injunction,
Buyer’s right to receive monetary damages shall not be a bar, or be interposed
as a defense, to the granting of such relief. Buyer’s right to injunctive relief
is in addition to, and not in lieu of, any other rights and remedies available
to it or them under law or in equity. Each Non-Compete Party agrees that the
provisions of this Section 6.01 and Section 6.02 shall be assignable to and
enforceable by any successor to or assignee of Buyer, the Companies or the
business of the Companies. (e) In the event that any covenant contained in
Section 6.01 or Section 6.02 should ever be adjudicated to exceed the time,
geographic, product or service, or other limitations permitted by Law in any
jurisdiction, then any court is expressly empowered to reform such covenant, and
such covenant shall be deemed reformed, in such jurisdiction to the maximum
time, geographic, product or service or other limitations permitted by Law. The
covenants contained in Section 6.01 and Section 6.02 and each provision hereof
are severable and distinct covenants and provisions. The invalidity or
unenforceability of any such covenant or provision as written shall not
invalidate or render unenforceable the remaining covenants or provisions hereof,
and any such invalidity or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such covenant or provision in any other
jurisdiction. 32 302010047 v18

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(f) If any Non-Compete Party or any Affiliate of any Non-Compete Party violates
this Section 6.02, then the period of time during which the provisions thereof
are applicable will automatically be extended for a period of time equal to the
time that such violation began until such violation permanently ceases as (i)
agreed to between any such breaching Non-Compete Party or any Affiliate of any
Non- Compete Party and Buyer, or (ii) as finally determined by a court of
competent jurisdiction. Section 6.03 Governmental Approvals and Consents. (a) If
any consent, approval or authorization necessary to preserve any right or
benefit under any Contract to which any Company is a party is not obtained prior
to the Closing, Sellers shall, subsequent to the Closing, cooperate with Buyer
and the Companies in attempting to obtain such consent, approval or
authorization as promptly thereafter as practicable. If such consent, approval
or authorization cannot be obtained, Sellers shall use their reasonable best
efforts to provide the Companies with the rights and benefits of the affected
Contract for the term thereof, and, if Sellers provide such rights and benefits,
the applicable Company shall assume all obligations and burdens thereunder. (b)
Sellers shall use their commercially reasonable efforts to obtain or provide, at
the earliest practicable date as determined by Sellers and Buyer, each consent,
waiver, approval, Order, Permit (including any Environmental Permit) or
authorization of, or declaration or filing with, or notification to, any
Governmental Authority required or necessary pursuant to any Material Contract,
Permit, or applicable Law, including any Environmental Law, Environmental
Notice, or Environmental Permit (whether with or without notice or lapse of time
or both) applicable to any Company, any Real Property, or any assets, business
or operations with respect thereto in connection with, as a result of or arising
from the consummation of the transactions contemplated by this Agreement or the
Transaction Documents (any such consent, waiver, approval, Order, Permit
(including any Environmental Permit) or authorization of, or declaration or
filing with, or notification to, any Governmental Authority not obtained prior
to the Closing, the “Outstanding Consents”); provided, however, that any Losses
arising in connection with the failure to obtain or provide an Outstanding
Consent shall be and is agreed to constitute an Excluded Item and Loss
indemnifiable pursuant to Section 8.02(h); provided further, that for the
avoidance of doubt, any approvals or clearances under the HSR Act shall not
constitute Outstanding Consents. The parties hereto agree that they will keep
the other parties apprised in a timely manner of the status of matters referred
to in this Section 6.03 and, to the extent permitted by Law, promptly furnish
the others with copies of notices or other communications (or, in the case of
material oral communications, advise the other of such communications (orally or
otherwise)) between the parties hereto and their representatives, as the case
may be, and any Governmental Authority with respect to such transactions. (c)
All analyses, appearances, meetings, discussions, presentations, memoranda,
briefs, filings, arguments and proposals made by or on behalf of either party
before any Governmental Authority or the staff or regulators of any Governmental
Authority, in connection with the transactions contemplated hereunder (but, for
the avoidance of doubt, not including any interactions between Sellers or any
Company with Governmental Authorities in the Ordinary Course of Business, any
disclosure which is not permitted by Law or any disclosure containing
confidential information) shall be disclosed to the other party hereunder in
advance of any filing, submission or attendance, it being the intent that the
parties will consult and cooperate with one another, and consider in good faith
the views of one another, in connection with any such analyses, appearances,
meetings, discussions, presentations, memoranda, briefs, filings, arguments and
proposals. Each party shall give notice to the other party with respect to any
meeting, discussion, appearance or contact with any Governmental Authority or
the staff or regulators of any Governmental Authority, with such notice being
sufficient to provide the other party with the opportunity to attend and
participate in such meeting, discussion, appearance or contact. Each of the
parties hereto agrees that none of the information regarding it or any of its
Affiliates supplied or to be supplied by it, or to be supplied on its behalf, in
writing specifically for inclusion in any documents to be filed with any 33
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Governmental Authority in connection with the transactions contemplated hereby
will, at the respective times such documents are filed with any Governmental
Authority, contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they were made,
not misleading. (d) Nothing in this Agreement shall require, or be construed to
require, Buyer or any of its Affiliates to agree to (i) sell, hold separate,
divest, discontinue or limit, before or after the Closing Date, any assets,
businesses or interests of Buyer, any Company or any of their respective
Affiliates; (ii) any conditions relating to, or changes or restrictions in, the
operations of any such assets, businesses or interests which, in either case,
could reasonably be expected to result in a Material Adverse Effect or
materially and adversely impact the economic or business benefits to Buyer of
the transactions contemplated by this Agreement; or (iii) any material
modification or waiver of the terms and conditions of this Agreement. Section
6.04 Books and Records. (a) All books and records of each Company are located at
the Real Property and possession of same will be transferred to Buyer at
Closing. (b) Buyer and each Company shall provide access, upon reasonable
advance notice and during normal business hours, to all of the Companies’
respective books, records and financial information relating to periods prior to
the Closing, at the cost and expense of Sellers, in connection with (i) any Tax
or any other Governmental Authority audit, inquiry, investigation, etc. of
Sellers or (ii) any matter for which Sellers are required to provide
indemnification hereunder. (c) Following the Closing, during the period set
forth in clauses (e) and (f) of Section 8.04, Buyer shall provide to Sellers
copies of all (i) reports to applicable Governmental Authorities regarding the
Companies’ compliance with its periodic maintenance and monitoring requirements
under any applicable Law or Environmental Permit related to the landfill located
on the Real Property and (ii) Environmental Notices, Environmental Claims, or
requests for information pursuant to Environmental Law, in each case to the
extent related to the use and operation of the Real Property and/or the
Companies on and after the Closing Date. (d) Neither Buyer nor Sellers shall be
obligated to provide the other party with access to any books, records or other
information (including personnel files) pursuant to this Section 6.04 where such
access would violate any Law. (e) Sellers shall maintain, and promptly following
the Closing, shall provide Buyer with, an electronic copy of all materials
contained in the “Project Eagle” and “Project Eagle 2019” folders of the
Workshare document repository maintained by Sellers as of 11:59 p.m., prevailing
Central Time, on the date that is two Business Days prior to the Closing Date.
Section 6.05 Use of Name. All uses of the name “Coram Materials,” “MLFF,”
“BSLH,” “A.B. of Sayville,” “Miller Place Development” and any derivations
thereof are assets of the applicable Company and, as such, are being transferred
to Buyer hereunder. Each Seller agrees that it will not take any action that
reasonably could be expected to adversely affect Buyer’s or the applicable
Company’s right to those names or cause confusion with respect to Buyer’s, the
applicable Company’s or any of its Affiliates’ use of those names. All goodwill
with respect to the use of the names shall inure to the benefit of Buyer, the
applicable Company and their respective Affiliates and none of Sellers nor any
of their respective Affiliates shall have any rights to sue or recover against
any Person with respect to the use of those names. 34 302010047 v18

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Section 6.06 Public Announcements. Unless otherwise required by Law or stock
exchange requirements (based upon the announcing party’s good faith
determination and the reasonable advice of counsel), no party to this Agreement
shall make any public announcements in respect of this Agreement or the
transactions contemplated hereby or otherwise communicate with any news media
without the prior written consent of the other parties (which consent shall not
be unreasonably withheld, conditioned, or delayed), and the parties shall
cooperate as to the timing and contents of any such announcement; provided,
however, that, for the avoidance of doubt, the ultimate parent entity of Buyer,
currently U.S. Concrete, Inc., shall be permitted to disclose in its filings
with the Securities and Exchange Commission and similar public filings and
disclosures the transactions contemplated hereby, including the Transaction
Documents, without the consent of, but on reasonable prior advance written
notice to, Sellers. Section 6.07 Further Assurances; Litigation Cooperation. (a)
Following the Closing, each of the parties hereto shall, and shall cause their
respective Affiliates to, execute and deliver such additional documents,
instruments, conveyances and assurances and take such further actions as may be
reasonably required to carry out the provisions hereof and give effect to the
transactions contemplated by this Agreement. (b) From and after the Closing
Date, Sellers shall use reasonable efforts to make themselves and their
Representatives available to Buyer and the Companies, upon written request, for
fact finding, consultation and interviews and as witnesses to the extent that
any such person may reasonably be required in connection with any Actions in
which the requesting party may from time to time be involved (whether as
plaintiff or defendant) relating to (i) the conduct of the Companies’ business
and the ownership and operation of the Companies’ properties and assets prior to
the Closing Date or (ii) to any Company’s claim to legal or equitable title to
any properties located within the quarry operated by the Companies or the
mining, mineral or possessory rights thereto. Buyer shall reimburse the
applicable Seller for his or her reasonable and documented out-of-pocket
expenses (including reasonable and documented attorneys’ and other professional
fees and expenses) incurred in connection with providing information and
witnesses pursuant to this Section 6.07(b). Subject to the terms and conditions
of Article VIII, in the event that Buyer or its Affiliates shall participate in
any Action concerning the Companies’ business or the ownership and operation of
the Companies’ properties and assets conducted prior to the Closing Date, each
Seller shall, upon the request of the party involved in such Action, cooperate
fully with such party in connection therewith, subject to reimbursement by the
requesting party for such Seller’s reasonable and documented out-of-pocket
expenses (including reasonable and documented attorneys’ and other professional
fees and expenses). Notwithstanding the foregoing, the provisions of this
Section 6.07(c) shall not apply to Actions brought between Buyer and its
Affiliates, on the one hand, and Sellers and their respective Affiliates, on the
other hand. Section 6.08 Performance Bond. Until July 1, 2020, Buyer shall have
the benefit of using that certain Irrevocable Standby Letter of Credit No.
SB-2225, issued on November 29, 2017 and having a current expiration date of
November 29, 2020, issued by People’s United Bank in favor of New York State
Department of Environmental Conservation (“NYSDEC” ) on behalf of Coram, in the
current amount not to exceed $1,267,141.42 and not in any greater amount (the
“Letter of Credit” ) to secure Coram’s mined land reclamation obligations as
prescribed by the NYSDEC under the Mined Land Reclamation permit issued to Coram
by NYSDEC (the “MLRL Permit” ), together with all cash on deposit with People’s
United Bank as financial security for the Letter of Credit (the “Cash Deposit”
). On or prior to July 1, 2020, Buyer shall cause Coram to (i) obtain an
alternative reclamation bond or other surety for Coram’s obligations as required
by the MLRL Permit, (ii) terminate the Letter of Credit with Peoples United Bank
and (iii) pay, or use commercially reasonable efforts to cause People’s United
Bank to pay, to Sellers the Cash Deposit. Prior to the earlier of (a) July 1,
2020 and (b) the date on which the Letter of Credit is terminated, Sellers shall
not take any action to terminate the Letter of Credit or withdraw the Cash
Deposit from People’s 35 302010047 v18

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United Bank. For the avoidance of doubt, subject to the provisions of this
Section 6.08, neither Coram nor Buyer nor any of its Affiliates shall have any
rights whatsoever with respect to the Cash Deposit following the Closing.
Section 6.09 Insurance. (a) Buyer and Sellers acknowledge that prior to the
Closing, Sellers have deposited $210,000 (the “Insurance Escrow Amount”) with
Ruskin Moscou Faltischeck, P.C. (“RMF” ), which RMF has agreed to hold in RMF’s
trust account pursuant to a separate letter agreement between RMF and Buyer.
Within ten (10) calendar days following the Closing Date, Sellers shall make a
written request for (i) one or more endorsements to the PLL Policy permitting
and enacting the pre-purchase, for an amount equal to the Insurance Escrow
Amount, of a supplemental extended reporting period, such that an extended
reporting period shall be in effect beginning on September 19, 2021 and ending
on November 19, 2025, and otherwise leaving the terms and conditions of the PLL
Policy unchanged (including the policy period), and (ii) an “insured contract
endorsement” under the PLL Policy describing this Agreement, and shall take all
actions necessary or appropriate to ensure that each such endorsement is validly
and effectively issued and obtained. Upon the reasonable request of Sellers,
Buyer shall, and shall cause Coram to, cooperate with Sellers in all reasonable
respects in connection with such request. Sellers shall provide written notice
to Buyer and RMF of such written request, accompanied by written instruction to
RMF to disburse to the insurer under the PLL Policy the Insurance Escrow Amount
in satisfaction of the additional premium for the endorsement described in
clause (i) of this Section 6.09(a). If, for any reason, the Insurance Escrow
Amount is insufficient to fully satisfy the additional premium for such
endorsement, Sellers shall satisfy such insufficiency by paying the requisite
additional amount to the insurer under the PLL Policy in accordance with the
insurer’s payment instructions. (b) During the period ending on the fifth
anniversary of the Closing Date, Buyer shall cause Coram to maintain (i) the PLL
Policy (provided that, following the expiration of the PLL Policy, the
continuance of the extended reporting period thereunder shall satisfy Buyer’s
obligation hereunder) and (ii) the policy of insurance described in Section
6.09(b) of the Disclosure Schedules (the “Environmental Policy”) (provided that
Coram is the first named insured thereunder, the policy term of the
Environmental Policy is for no less than five years following the Closing Date,
and that Sellers shall have taken all actions necessary to bind coverage under
such policy, including the satisfaction of all application and underwriting
requirements, and shall have paid the full policy premium for the full policy
term of the Environmental Policy), and shall not waive, amend, modify, revise,
or apply to the insurer to modify or revise, the PLL Policy or the Environmental
Policy (as applicable), or change the broker of record under the PLL Policy or
the Environmental Policy (as applicable), in each case in any manner adverse to
Sellers, without the written approval of Sellers, which shall not be
unreasonably withheld, conditioned or delayed; provided that in no event will
Buyer eliminate a Seller or Sellers as named insured, reduce any coverage limit,
or otherwise impair the coverage afforded Sellers under the PLL Policy or the
Environmental Policy (as applicable). Buyer may increase the coverage limits of
the PLL Policy or the Environmental Policy (as applicable) following the Closing
in its sole discretion and at its sole cost and expense. For the avoidance of
doubt, all costs and expenses associated with the Environmental Policy as of the
date of its inception or in connection with its inception (including the full
policy premium, any attorneys’ fees or any broker fees or commissions) shall be
the responsibility of Sellers. Section 6.10 Termination of Related Party
Agreements. Each Contract set forth on, or required to be set forth on, Section
3.08(a)(xv) of the Disclosure Schedules is hereby terminated and of no force and
effect as of the Closing. 36 302010047 v18

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Section 6.11 401(k) Plan Termination. As promptly as possible following the
Closing, Sellers shall (a) submit to the Internal Revenue Service the
appropriate application for determination as to the Terminated 401(k) Plan’s
qualified status; and (b) deliver copies of and evidence thereof to Buyer.
Section 6.12 Bank Account Transition. As promptly as possible following the
Closing, Sellers shall take all necessary actions to remove the Companies’
names, taxpayer identification numbers and other identifying information on each
of the accounts set forth on Section 3.23 of the Disclosure Schedules, other
than the account noted as “Bond Security,” which is the subject of Section 6.08.
Following the Closing, Sellers shall promptly pay over to Buyer any Accounts
Receivable or other amounts for the account of Buyer or any Company that may be
received by Sellers following the Closing, including any such amounts deposited
into such bank accounts, in order to more fully carry out the provisions of, and
give effect to the purposes and intent of, this Agreement. The parties
acknowledge that such bank accounts shall be Excluded Assets for purposes of
this Agreement. ARTICLE VII TAX MATTERS Section 7.01 Tax Covenants. (a) Without
the prior written consent of Buyer, each Seller (and, prior to the Closing, each
Company, their respective Affiliates and their respective Representatives) shall
not, to the extent it may affect, or relate to, any Company, make, change or
rescind any Tax election, amend any Tax Return or take any position on any Tax
Return, take any action, omit to take any action or enter into any other
transaction that would have the effect of increasing the Tax liability of Buyer
or any Company in respect of any Post-Closing Tax Period. Sellers agree that
Buyer is to have no liability for any Tax resulting from any action of any
Seller, any Company (to the extent such action occurs prior to the Closing Date
or is otherwise based on any action by any Seller on behalf of any Company,
except with respect to any action taken by any Seller on behalf of any Company
at the direction of Buyer, its Affiliates or any of their respective
Representatives), any of Sellers’ Affiliates or any of their respective
Representatives, and agree, jointly and severally, to indemnify and hold
harmless Buyer (and, after the Closing Date, each Company) against any such Tax.
(b) All transfer, documentary, sales, use, stamp, registration, value added and
other such Taxes and fees (including any penalties and interest) incurred in
connection with this Agreement and the other Transaction Documents (including
any real property transfer Tax and any other similar Tax) shall be borne and
paid by Sellers when due. Sellers shall, at their own expense, timely file any
Tax Return or other document with respect to such Taxes or fees (and Buyer shall
cooperate with respect thereto as necessary). (c) Sellers shall prepare, or
cause to be prepared, all Tax Returns required to be filed by each Company after
the Closing Date with respect to a Pre-Closing Tax Period. Any such Tax Return
shall be prepared in a manner consistent with past practice (unless otherwise
required by Law) and without a change of any election or any accounting method
and shall be submitted by Sellers to Buyer (together with schedules, statements
and, to the extent requested by Buyer, supporting documentation) at least thirty
(30) days prior to the due date (including extensions) of such Tax Return. If
Buyer objects to any item on any such Tax Return, it shall, within fifteen (15)
days after delivery of such Tax Return, notify Sellers in writing that it so
objects, specifying with particularity any such item and stating the specific
factual or legal basis for any such objection. If a notice of objection shall be
duly delivered, Buyer and Sellers shall negotiate in good faith and use their
reasonable best efforts to resolve such items. If Buyer and Sellers are unable
to reach such agreement within ten (10) days after receipt by Sellers of such
notice, the disputed items shall be resolved by the Independent Accountant and
any determination by the Independent 37 302010047 v18

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Accountant shall be final. The Independent Accountant shall resolve any disputed
items within twenty (20) days of having the item referred to it pursuant to such
procedures as it may require. If the Independent Accountant is unable to resolve
any disputed items before the due date for such Tax Return, the Tax Return shall
be filed consistently with Buyer’s objections and then, if necessary, amended to
reflect the Independent Accountant’s resolution. The costs, fees and expenses of
the Independent Accountant shall be borne equally by Buyer and Sellers. The
preparation and filing of any Tax Return of any Company that does not relate to
a Pre-Closing Tax Period shall be exclusively within the control of Buyer.
Section 7.02 No Existing Tax Sharing Agreements. No tax sharing agreements exist
(whether written or oral). Section 7.03 Tax Indemnification. (a) Sellers shall
jointly and severally indemnify each Company, Buyer and each Buyer Indemnitee
and hold them harmless from and against (a) any Loss attributable to any breach
of or inaccuracy in any representation or warranty made in Section 3.20; (b) any
Loss attributable to any breach or violation of, or failure to fully perform,
any covenant, agreement, undertaking or obligation in Article VII; (c) all
Pre-Closing Taxes, including, without limitation, all Taxes attributable to the
Section 338(h)(10) Elections; (d) all Taxes of any member of an affiliated,
consolidated, combined or unitary group of which any Company (or any predecessor
of any Company) is or was a member on or prior to the Closing Date by reason of
a liability under Treasury Regulation Section 1.1502-6 or any comparable
provisions of foreign, state or local Law; and (e) any and all Taxes of any
Person imposed on any Company arising under the principles of transferee or
successor liability or by contract, relating to an event or transaction
occurring before the Closing Date; provided, however, that in the case of
clauses (c), (d) and (e) above, Sellers shall not be liable for any Taxes
treated as a Liability in the calculation of Trade Working Capital. In each of
the above cases, together with any out-of-pocket fees and expenses (including
reasonable attorneys’ and accountants’ fees) incurred in connection therewith.
Sellers shall reimburse Buyer for any Taxes of any Company that are the
responsibility of any Seller pursuant to this Section 7.03 within ten (10)
Business Days after payment of such Taxes by Buyer or the applicable Company.
(b) The indemnifications provided in this Section 7.03 shall not be subject to
any baskets, caps, thresholds, or other limitations. Section 7.04 Straddle
Period. In the case of Taxes that are payable by any Company with respect to a
taxable period that begins before and ends after the Closing Date (each such
period, a “Straddle Period”), the portion of any such Taxes that are treated as
Pre-Closing Taxes for purposes of this Agreement shall be: (a) in the case of
Taxes based upon, or related to, income or receipts, deemed equal to the amount
that would be payable if the taxable year ended with the Closing Date; and (b)
in the case of other Taxes, deemed to be the amount of such Taxes for the entire
period multiplied by a fraction the numerator of which is the number of days in
the period ending on the Closing Date and the denominator of which is the number
of days in the entire period. Section 7.05 Contests. Buyer agrees to give
written notice to Sellers of the receipt of any written notice by any Company,
Buyer or any of Buyer’s Affiliates that involves the assertion of any claim, or
the commencement of any Action, in respect of which an indemnity may be sought
by Buyer pursuant to this Article VII (a “Tax Claim”); provided, that failure to
comply with this provision shall not affect Buyer’s right to indemnification
hereunder, unless the indemnifying party is materially prejudiced by Buyer’s
failure to provide the aforementioned notice. Buyer shall control the contest or
resolution of any Tax Claim; 38 302010047 v18

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provided, however, that Buyer shall obtain the prior written consent of Sellers
(which consent shall not be unreasonably withheld, conditioned or delayed)
before entering into any settlement of a claim or ceasing to defend such claim;
and, provided, further, that Sellers shall be entitled to participate in the
defense of such claim and to employ counsel of its choice for such purpose, the
fees and expenses of which separate counsel shall be borne solely by Sellers.
Section 7.06 Cooperation and Exchange of Information. Sellers and Buyer shall
provide each other with such cooperation and information as either of them
reasonably may request of the other in filing any Tax Return pursuant to this
Article VII or in connection with any audit or other proceeding in respect of
Taxes of any Company. Such cooperation and information shall include providing
copies of relevant Tax Returns or portions thereof, together with accompanying
schedules, back-up materials, related work papers and documents relating to
rulings or other determinations by a Governmental Authority. Each of Sellers and
Buyer shall retain all Tax Returns, schedules and work papers, records and other
documents in its possession relating to Tax matters of each Company for any
taxable period beginning before the Closing Date until the expiration of the
statute of limitations of the taxable periods to which such Tax Returns and
other documents relate, without regard to extensions except to the extent
notified by the other party in writing of such extensions for the respective Tax
periods. Prior to transferring, destroying or discarding any Tax Returns,
schedules and work papers, records and other documents in its possession
relating to Tax matters of any Company for any taxable period beginning before
the Closing Date, Sellers or Buyer (as the case may be) shall provide the other
party with reasonable written notice and offer the other party the opportunity
to take custody of such materials. Section 7.07 Tax Treatment of Indemnification
Payments. Any indemnification payments pursuant to this Article VII and Article
VIII shall be treated as an adjustment to the aggregate purchase price for the
Securities by the parties for Tax purposes, unless otherwise required by Law.
Any such adjustment shall be allocated for Tax purposes to the portion of the
aggregate purchase price allocated to the Company whose assets or activities
gave rise to such indemnification payment. If it is impracticable to identify
such Company, the purchase price adjustment shall be made ratably among the
Companies in the same proportions as the original purchase price was allocated
among the Securities pursuant to Exhibit G. Section 7.08 Survival.
Notwithstanding anything in this Agreement to the contrary, the provisions of
Section 3.20 and this Article VII shall survive for the full period of all
applicable statutes of limitations (giving effect to any waiver or extension
thereof) plus sixty (60) days. Section 7.09 Overlap. To the extent that any
obligation or responsibility pursuant to Article VIII may overlap with an
obligation or responsibility pursuant to this Article VII, the provisions of
this Article VII shall govern and control. Section 7.10 Section 338(h)(10)
Elections. At Buyer’s option, in its sole discretion, Sellers shall join in an
appropriate and timely manner with Buyer and shall make elections under Section
338(h)(10) of the Code and any corresponding election permitted under any local,
state or non-U.S. jurisdiction (collectively, “Section 338(h)(10) Elections” )
with respect to Buyer’s acquisition of the Securities issued by the S
Corporations. Sellers shall cooperate with Buyer to take all actions necessary
or appropriate to effect and preserve timely Section 338(h)(10) Elections with
respect to Buyer’s acquisition of the Securities issued by the S Corporations,
including but not limited to participating in the timely filing and execution of
Internal Revenue Service Form 8023 and related or comparable forms for state,
local or non-U.S. law purposes (collectively, the “Section 338(h)(10) Forms” ).
Buyer shall prepare all Section 338(h)(10) Forms (other than sections or such
forms that relate to information regarding Sellers) and shall provide the
Section 338(h)(10) Forms to Sellers prior to the Closing Date. Sellers shall
promptly and properly review, comment on (if needed), complete, execute and
deliver to Buyer at the Closing all of the Section 338(h)(10) Forms provided by
Buyer. Buyer shall be authorized to complete the Section 338(h)(10) 39 302010047
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Forms in accordance with the provisions of this Agreement and file the Section
338(h)(10) Forms with the applicable Governmental Authority. Section 7.11
Purchase Price Allocation. The Purchase Price shall be allocated among the
Securities and further allocated among the assets of each Company in accordance
with Exhibit G (it being acknowledged that “fair market value” shall be
determined by an independent appraisal to be completed by Buyer as promptly as
possible following the Closing), and the parties and each of their respective
Affiliates shall report the acquisition of Securities and allocation of the
Purchase Price among the assets of each Company in a manner consistent with such
allocation on all Tax Returns (including IRS Form 8883) and shall not take any
position on any Tax Return or during the course of any audit or other proceeding
that is inconsistent with Exhibit G unless required by a determination of a
Governmental Authority that is final. Within 60 days following the Closing Date,
Buyer shall provide to Sellers a schedule that sets forth the fair market value
of the assets constituting Class IV and Class V assets of each Company (the
“Class IV and V Allocation Schedule”). Sellers shall have 60 days after the
Class IV and V Allocation Schedule is delivered to Sellers to review and comment
on the Class IV and V Allocation Schedule and identify potential adjustments
thereto. If Sellers fail to identify potential adjustments within such 60 day
period, the Class IV and V Allocation Schedule shall be deemed accepted. Sellers
and Buyer shall work together in good faith to resolve differences with respect
to the allocation. To the extent there remains any disagreement between Sellers
and Buyer within 15 days after the delivery by the Sellers of proposed
adjustments to Buyer’s proposed allocation, (i) each party shall be permitted to
file all Tax Returns based on an allocation of value to Class IV, V, VI and VII
assets that such party determines in its own discretion, or (ii) Buyer and
Sellers may jointly decide to refer the dispute to the Independent Accountant to
resolve the dispute and the Independent Accountant shall make within 60 days a
final determination binding upon the parties of the appropriate allocation of
value to Class IV and Class V assets. Buyer and Sellers shall cooperate with
each other to enable the Independent Accountant to render a proper decision. The
fees and expenses of the Independent Accountant shall be borne under the same
methodology as the fees of the Independent Accountant as set forth Section
2.04(e). Neither Sellers, Buyer, nor any of their respective Affiliates shall
take any position (whether in audits, Tax Returns or otherwise) that is
inconsistent with such allocation and Exhibit G unless required to do so by
applicable Law. The parties shall, as applicable, timely and properly prepare,
execute, file and deliver all such documents, forms and other information as the
other parties may reasonably request in connection with Exhibit G including the
agreed allocation, if any, of value to Class IV and Class V assets. The parties
shall promptly advise one another of the existence of any Tax audit, controversy
or litigation related to the allocation set forth on Exhibit G. In the event
that such allocation is disputed by any Governmental Authority, the party
receiving notice of such dispute will promptly notify the other parties and the
parties will consult in good faith how to resolve such dispute in a manner as
consistent as possible with such allocation. The parties acknowledge that, by
reason of the sale and purchase of the outstanding equity interests of MPD LLC,
MPD LLC will terminate as a partnership for federal Tax purposes pursuant to
situation 2 in Revenue Ruling 99-6. The parties recognize that Buyer’s purchase
of the MPD LLC equity interests will be treated for federal income Tax purposes
as (a) a sale by Sellers of limited liability company interests, and (b) a
purchase by Buyer of MPD LLC’s assets. ARTICLE VIII INDEMNIFICATION Section 8.01
Survival. Subject to the limitations and other provisions of this Agreement, the
representations and warranties contained herein shall survive the Closing and
shall remain in full force and effect until the date that is eighteen (18)
months from the Closing Date; provided, however, that (a) the representations
and warranties in each of Section 3.01, Section 3.02, Section 3.03, Section
3.04, Section 3.28 (collectively, the “Company Fundamental Representations”),
Section 4.01, Section 4.02, Section 4.03 (with respect to clauses (a) and (b)
only), Section 4.04, Section 4.06 (collectively, the “Seller Fundamental
Representations”), Section 5.01, Section 5.02, Section 5.03 and Section 5.05
(collectively, 40 302010047 v18

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[exhibit103eaglesecuritie046.jpg]
the “Buyer Fundamental Representations”) shall survive indefinitely, and (b) the
representations and warranties in Section 3.17 (the “Environmental
Representation”) shall survive until the fifth anniversary of the Closing Date
or for the full period of all applicable statutes of limitations (giving effect
to any waiver or extension thereof) plus sixty (60) days, whichever period is
shorter. All covenants and agreements of the parties contained herein
contemplating performance after the Closing shall survive the Closing in
accordance with their terms. Notwithstanding the foregoing, any claims asserted
in good faith with reasonable specificity (to the extent known at such time) and
in writing by notice from the non-breaching party to the breaching party prior
to the expiration date of the applicable survival period shall not thereafter be
barred by the expiration of the relevant representation or warranty and such
properly asserted claims and the representations and warranties with respect
thereto shall survive until finally resolved. Section 8.02 Indemnification by
Sellers. Subject to the other terms and conditions of this Agreement, Sellers,
jointly and severally, shall indemnify and defend each of Buyer and its
Affiliates (including, after the Closing, each Company) and each of their
respective Representatives (collectively, the “Buyer Indemnitees”) against, and
shall hold each of them harmless from and against, and shall pay and reimburse
each of them for, any and all Losses incurred or sustained by, or imposed upon,
the Buyer Indemnitees based upon or arising out of: (a) any inaccuracy in or
breach of any of the representations or warranties of any Seller or any Company
in any Transaction Document, including any of the representations or warranties
contained in Article III or Article IV or any certificate or instrument
delivered by or on behalf of any Seller or any Company at the Closing pursuant
to this Agreement, or any allegation by a third party that, if proven true,
would constitute such an inaccuracy or breach; (b) any breach or non-fulfillment
of any covenant, agreement or obligation to be performed by any Seller or any of
its respective Affiliates (including any covenant, agreement or obligation to be
performed by any Company on or prior to the Closing) pursuant to any Transaction
Document or any allegation by a third party that, if proven true, would
constitute such a breach or non-fulfillment; (c) any Closing Indebtedness or
Transaction Expenses to the extent not set forth on the Payoff Letters or
otherwise reflected in and adjusted for in the Final Closing Statement; (d) any
claim asserted by any Person who is or was, or who claims to be or to have been,
the holder of, or entitled to acquire or receive, any Securities, equity
interest, option or other security of any Company or who claims any
consideration with respect thereto; (e) any indemnification obligations owing by
any Company to any past or present officers, managers, managing-members,
directors, employees, former employees or independent contractors of any Company
(whether under Law, any Organizational Document, any current indemnification
agreement, this Agreement or otherwise) with respect to claims made against such
past or present officers, managers, managing-members, directors, employees,
former employees or independent contractors, in each case, which (i) are
asserted on or prior to the Closing Date or (ii) arise or are based, in whole or
primarily upon, on any events, activities or actions occurring on or prior to
the Closing Date or conditions caused or contributed to on or prior to the
Closing Date; (f) subject to Section 8.04(k), (i) any Environmental Claim by
reason of or arising out of any action, failure to act, event or condition
(whether known or unknown on or prior to the Closing Date) (1) associated with
the ownership or operation by any Company of, or at, (x) the Real Property, or
(y) property formerly owned, operated or leased by any Company during the time
of such Company’s (or any other Person’s, to the extent such Person would
qualify as such Company at such time) ownership, operation or lease of such
property, (ii) the presence or Release of any Hazardous Material on, at, to or
from any 41 302010047 v18

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[exhibit103eaglesecuritie047.jpg]
location where Hazardous Materials were disposed of, transported to or
transferred by or on behalf of any Company, and any subsequent migration of such
Hazardous Materials, or (iii) any matter set forth in Sections 3.17(a)-(c) of
the Disclosure Schedules, but only to the extent that such actions, failures to
act, events or conditions, or such presence or Release of Hazardous Material, or
such matter described in such Disclosure Schedules (as described in clauses (i),
(ii) and (iii) of this Section 8.02(f), respectively) occurred or existed on or
before the Closing Date; provided that in no event shall Sellers have any
obligations under this Section 8.02(f) for any Losses to the extent arising (A)
from a change in any Environmental Law after the Closing Date; (B) from an
Emerging Contaminant; (C) from or as a result of a Buyer Indemnitee’s own
independent investigation or independent disclosure, report or notification to
any Governmental Authority, in each case, absent an affirmative obligation under
any Environmental Law, Environmental Notice or Environmental Permit to make such
an investigation or make such disclosure, report or notification, or (D) from
any excavation of a portion or all of the landfill located on the Real Property
or otherwise causing the closed status of such landfill to be disrupted other
than as a necessary remedial action that a Buyer Indemnitee is legally obligated
to undertake not resulting from a failure to maintain the cap on such Landfill
or non-compliance with Environmental Law, Environmental Notice, or Environmental
Permit on or after the Closing Date. (g) any Action set forth on Section
3.13(a)(ii), Section 3.13(b)(ii), Section 3.16(a), Section 3.17(a), or Section
3.19(c) of the Disclosure Schedules; (h) any Excluded Item; (i) any Related
Party Matter; or (j) any Liabilities in connection with any Third Party Claims
arising out of or related to any matter set forth on Section 8.02(j) of the
Disclosure Schedules; (k) any Liabilities arising out of or related to the
operation of the business of any of the Companies prior to the Closing Date to
the extent not subject to clauses (a) through (j) above or excluded under the
terms thereof, including 8.02(f) (A)-(D); (l) any Action relating to any matter
referred to in clauses (a) through (k) above (including any Action commenced by
any Buyer Indemnitee for the purpose of enforcing its rights under this
Agreement, including this Article VIII). Section 8.03 Indemnification by Buyer.
Subject to the other terms and conditions of this Article VIII, Buyer shall
indemnify and defend each Seller and his or her respective Affiliates and
Representatives (collectively, the “Seller Indemnitees”) against, and shall hold
each of them harmless from and against, and shall pay and reimburse each of them
for, any and all Losses incurred or sustained by, or imposed upon, the Seller
Indemnitees based upon or arising out of: (a) any inaccuracy in or breach of any
of the representations or warranties of Buyer in any Transaction Document,
including any of the representations or warranties contained in Article V or in
any certificate or instrument delivered by or on behalf of Buyer at the Closing
pursuant to this Agreement, or any allegation by a third party that, if proven
true, would constitute such an inaccuracy or breach; (b) any breach or
non-fulfillment of any covenant, agreement or obligation to be performed by
Buyer or any of its Affiliates (including any covenant, agreement or obligation
to be performed by any Company after the Closing) pursuant to any Transaction
Document or any allegation by a third party that, if proven true, would
constitute such a breach or non-fulfillment; 42 302010047 v18

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[exhibit103eaglesecuritie048.jpg]
(c) any Liabilities arising out of or related to the operation of the business
of any of the Companies on or after the Closing Date; or (d) (i) any
Environmental Claim by reason of or arising out of any action, failure to act,
event or condition associated with the ownership or operation by any Company of,
or at, the Real Property, or (ii) the presence or Release of any Hazardous
Material on, at, to or from any location where Hazardous Materials were disposed
of, transported to or transferred by or on behalf of any Company, and any
subsequent migration of such Hazardous Materials, but only to the extent that
such actions, failures to act, events or conditions, or such presence or Release
of Hazardous Material (as described in clauses (i) and (ii) of this Section
8.03(d), respectively) first occurred after the Closing Date; (e) any Action
relating to any matter referred to in clauses (a) through (d) above (including
any Action commenced by any Seller Indemnitee for the purpose of enforcing its
rights under this Agreement, including this Article VIII). Section 8.04 Certain
Limitations. The indemnification provided for in Section 8.02 and Section 8.03
shall be subject to the following limitations: (a) Buyer’s Deductible. Sellers
shall not be liable to the Buyer Indemnitees for indemnification (i) under
Section 8.02(a) with respect to any Loss or any claim for indemnification
arising out of any inaccuracy in or breach of any representation or warranty
other than the Company Fundamental Representations or the Seller Fundamental
Representations, (ii) under Section 8.02(f), (iii) under Section 8.02(j), or
(iv) under Section 8.02(k) until the aggregate amount of all such Losses and
claims exceeds on a cumulative basis one-quarter percent (0.25%) of the Purchase
Price (the “Deductible” ), in which event Sellers shall be required to pay or be
liable for all such Losses and claims in excess of the Deductible, but subject
to the other limitations set forth in this Article VIII. (b) Buyer Deductible
Exclusions. For the avoidance of doubt, the limitations in clause (a) of this
Section 8.04 shall not apply to (i) any Loss or any claim for indemnification
based upon or arising out of any inaccuracy in or breach of any representation
or warranty in any Company Fundamental Representation or any Seller Fundamental
Representation, (ii) any Loss or any claim for indemnification under clauses
(b)-(e) and (g)-(i) of Section 8.02, or (iii) any Loss or any claim for
indemnification based upon or arising out of any (A) fraud, (B) intentional or
willful misrepresentation, or (C) criminal activity or breach of Law by any
Seller or any Company, in each case, to the extent occurring on or prior to the
Closing (the matters described in clauses (i)-(iii) of this Section 8.04(b),
collectively, the “Buyer Deductible Exclusions”). (c) Sellers’ Deductible;
Seller Deductible Exclusions. Buyer shall not be liable to the Seller
Indemnitees for indemnification under Section 8.03(a) until the aggregate amount
of all Losses in respect of indemnification under Section 8.03(a) exceeds on a
cumulative basis one-quarter percent (0.25%) of the Purchase Price, in which
event Buyer shall be required to pay or be liable for all such Losses in excess
of such amount; provided, however, that the limitation set forth in this Section
8.04(c) shall not apply to any Loss or any claim for indemnification based upon
or arising out of (i) any inaccuracy in or breach of any representation or
warranty in the Buyer Fundamental Representations or (ii) any (A) fraud, (B)
intentional or willful misrepresentation, or (C) criminal activity or breach of
Law by Buyer, in each case, to the extent occurring on or prior to the Closing
(the matters described in clauses (i) and (ii) of this Section 8.04(c), the
“Seller Deductible Exclusions”). (d) Cap and Claims Period — General
Representations and Warranties and General Pre-Closing Liabilities. (A) The
aggregate liability of Sellers under (i) Section 8.02(a) with respect to any and
all Losses and claims for indemnification arising out of any inaccuracy in or
breach of any 43 302010047 v18

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[exhibit103eaglesecuritie049.jpg]
representation or warranty other than the Company Fundamental Representations,
the Seller Fundamental Representations, or the Environmental Representation or
(ii) under Section 8.02(k), on the one hand, and (B) the aggregate liability of
Buyer under Section 8.03(a) with respect to any Losses or any claim for
indemnification arising out of any inaccuracy or breach of any representation or
warranty other than the Buyer Fundamental Representations, on the other, to
indemnify the Buyer Indemnitees or the Seller Indemnitees, respectively, shall
not exceed seven and one-half percent (7.5%) of the Purchase Price,
respectively. Neither Sellers nor Buyer shall have any liability with respect to
any Loss or any claim for indemnification arising out of or relating to such
matters unless such Loss or claim is asserted in good faith by written notice of
claim specifying the factual basis thereof in reasonable detail (to the extent
known at such time) from the Indemnified Party given to the Indemnifying Party
on or prior to the 18 month anniversary of the Closing Date. (e) Cap and Claims
Period — General Environmental Matters. The aggregate liability of Sellers under
(i) under Section 8.02(a) with respect to any and all Losses and claims for
indemnification arising out of any inaccuracy in or breach of any representation
or warranty in the Environmental Representation or (ii) under Section 8.02(f),
in each case arising out of or related to any matter other than the Landfill
Matters (the matters referred to in the foregoing clauses (i) and (ii)
collectively, the “General Environmental Indemnification Matters”) to indemnify
the Buyer Indemnitees shall not exceed seven and one-half percent (7.5%) of the
Purchase Price. Sellers shall not have any liability with respect to any Loss or
any claim for indemnification arising out of or relating to such matters unless
such Loss or claim is asserted in good faith by written notice of claim
specifying the factual basis thereof in reasonable detail (to the extent known
at such time) from the Indemnified Party given to the Indemnifying Party on or
prior to the fifth anniversary of the Closing Date or the date that is 60 days
following the expiration of all applicable statutes of limitations (giving
effect to any waiver or extension thereof), whichever date is earlier. (f) Cap
and Claims Period — Landfill Matters. The aggregate liability of Sellers under
(i) under Section 8.02(a) with respect to any and all Losses and claims for
indemnification arising out of any inaccuracy in or breach of any representation
or warranty in the Environmental Representation or (ii) under Section 8.02(f),
in each case arising out of or related to any Landfill Matter (the matters
referred to in the foregoing clauses (i) and (ii) collectively, the “Landfill
Indemnification Matters” ) to indemnify the Buyer Indemnitees shall not exceed
seven and one-half percent (7.5%) of the Purchase Price. Sellers shall not have
any liability with respect to any Loss or any claim for indemnification arising
out of or relating to such matters unless such Loss or claim is asserted in good
faith by written notice of claim specifying the factual basis thereof in
reasonable detail (to the extent known at such time) from the Indemnified Party
given to the Indemnifying Party on or prior to the fifth anniversary of the
Closing Date or the date that is 60 days following the expiration of all
applicable statutes of limitations (giving effect to any waiver or extension
thereof), whichever date is earlier. (g) Cap and Claims Period — Specified
Liability. Notwithstanding anything in this Section 8.04 to the contrary, the
aggregate liability of Sellers under Section 8.02(j) shall not exceed
$2,000,000. Buyer’s sole recourse with respect to the indemnity provided under
Section 8.02(j) shall be to set off, offset and recoup from the Post-Closing
Payments any liability for which a Seller is determined to be liable to Buyer or
any Affiliate of Buyer pursuant to Section 8.02 related to such matter. Sellers
shall not have any liability with respect to any Losses or any claim for
indemnification arising out of or relating to such matter unless such Loss or
claim is asserted in good faith by written notice of claim specifying the
factual basis thereof in reasonable detail (to the extent known at such time)
from the Indemnified Party given to the Indemnifying Party on or prior to the
second anniversary of the Closing Date. (h) Subject to clauses (k) and (l) of
this Section 8.04, each of the limitations on the aggregate liability of Sellers
set forth in clauses (d), (e), (f) and (g) of this Section 8.04 shall be
separate and independent limitations on the aggregate liability of Sellers under
this Article VIII. The limitations on 44 302010047 v18

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[exhibit103eaglesecuritie050.jpg]
the aggregate liability of Sellers set forth in clauses (d), (e), (f) and (g) of
this Section 8.04 shall not apply to any claims based upon or arising out of any
of the Buyer Deductible Exclusions or the Seller Deductible Exclusions. For the
avoidance of doubt, the limitations set forth in this Section 8.04 apply to
Losses incurred or sustained by, or imposed upon, the Buyer Indemnitees
collectively and not individually. (i) The limitations on the liability of
Sellers under, and the period in which the Indemnified Party must give written
notice asserting a claim or Loss with respect to, Section 8.02(l) shall be
governed by the clause(s) of this Section 8.04 applicable to the underlying
matter related to such Action. (j) In the event any Company or any of their
respective Subsidiaries suffers, incurs or otherwise becomes subject to any
Losses as a result of or in connection with any inaccuracy in or breach or
alleged breach of any representation, warranty, covenant or obligation, then
Buyer shall also be deemed, by virtue of its ownership of the Securities,
without duplication to have incurred Losses as a result of and in connection
with such inaccuracy or breach. (k) No Buyer Indemnitee shall be entitled to
recover for any Loss or claim pursuant to any provision of this Agreement (i) to
the extent any Buyer Indemnitee has already recovered such Loss or claim under
any other provision of this Agreement or (ii) to the extent that the limitation
on the aggregate liability of Sellers applicable to such Loss or claim (as set
forth in clauses (d), (e), (f) or (g) of this Section 8.04(k)), if any, has been
reached. (l) A Buyer Indemnitee shall only be entitled to recover against
Sellers with respect to any individual Loss or claim pursuant to one clause of
Section 8.02 (provided that the Environmental Indemnification Provisions shall
be deemed to be one clause for this purpose), and the limitation set forth in
this Section 8.04 applicable to such clause shall apply to such Loss or claim.
By way of example, it is the parties’ intention that a Buyer Indemnitee shall
not be entitled to recover with respect to any individual Loss under both
Section 8.04(e) (General Environmental Indemnification Matters) and Section
8.04(f) (Landfill Indemnification Matters), but rather under only one such
section. (m) No Buyer Indemnitee or Seller Indemnitee shall be entitled to
recover any Loss pursuant to any provision of this Agreement to the extent such
Loss is agreed by such Buyer Indemnitee or Seller Indemnitee, as applicable, to
be, or is determined by final, non-appealable adjudication to be, the direct
result of the gross negligence, willful misconduct, criminal activity or willful
violation of Law of such Buyer Indemnitee or Seller Indemnitee, as applicable.
Except as provided in the immediately preceding sentence, each of Sellers on the
one hand and Buyer and the Companies on the other hand waives, and acknowledges
and agrees that each such party shall not have and shall not exercise or assert
(or attempt to exercise or assert), any right of contribution, right of
indemnity or other right or remedy against the other party in connection with
any indemnification obligation or any other Liability to which any party may
become subject under or in connection with this Agreement or any Transaction
Document. (n) For the purposes of this Article VIII, any Losses shall be
determined on a net basis after giving effect to any actual cash payments,
setoffs, recoupment or any other payments in each case received or retained by
the Indemnified Party (including any Insurance Proceeds actually received by the
Indemnified Party) as a result of any event giving rise to a claim for such
indemnification. Any Insurance Proceeds actually received or paid related to the
PLL Policy or the Environmental Policy with respect to a claim based on a
General Environmental Indemnification Matter or a Landfill Indemnification
Matter (and not later recouped or otherwise required to be returned to the
applicable insurer) shall reduce dollar for dollar the applicable limitation set
forth in clause (e) or clause (f) of this Section 8.04; provided, however, that
for the avoidance of doubt, to the extent any Loss is paid directly by Sellers
to a Buyer Indemnified Party, and Insurance Proceeds are received or paid with
respect to such Loss, such amount shall only be counted once for purposes of
reducing such applicable limitation (by way of example and not limitation, if 45
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a Buyer Indemnitee experiences a $5,000 Loss and receives payment in respect
thereof by Sellers, and thereafter the Sellers receive $5,000 of Insurance
Proceeds in respect of such Loss, the applicable limitation shall be reduced by
$5,000). Any Insurance Proceeds actually received by or paid to Buyer related to
the Environmental Policy with respect to a claim that is not an Insured
Indemnification Claim (and not later recouped or otherwise required to be
returned to the applicable insurer) shall reduce dollar for dollar the
applicable limitation set forth in clause (e) or clause (f) of this Section
8.04. If an Indemnified Party receives a payment pursuant to this Article VIII
from an Indemnifying Party in respect of any Loss (an “Indemnity Payment” ) and
subsequently receives Insurance Proceeds or proceeds from any third party in
respect of indemnification for such Loss that actually reduce the amount of such
Loss, then the Indemnified Party shall pay to the Indemnifying Party an amount
equal to the excess of the Indemnity Payment received by the Indemnified Party
over the Indemnified Party’s actual Loss (as so reduced by such Insurance
Proceeds or third party proceeds actually received); provided, however, that if
any insurance carrier or other third party recoups such Insurance Proceeds or
third party proceeds or otherwise requires such Insurance Proceeds or third
party proceeds to be returned to such carrier or third party, under a
reservation of rights or otherwise, then (i) if the Indemnified Party has paid
to the Indemnifying Party such Insurance Proceeds or third party proceeds
pursuant to this clause (n) of this Section 8.04, the Indemnifying Party shall
promptly pay over such Insurance Proceeds or third party proceeds to the
applicable carrier or third party and (ii) if the Indemnified Party has not yet
paid to the Indemnifying Party such Insurance Proceeds or third party proceeds,
the Indemnified Party shall not be obligated to pay such Insurance Proceeds or
third party proceeds to the Indemnifying Party and shall instead return such
Insurance Proceeds or third party proceeds to the applicable carrier or third
party. (o) The Parties acknowledge that nothing in this Article VIII is intended
relieve any obligation of any insurer under the terms of the applicable
insurance policy, including any obligation to pay a claim under such policy. In
furtherance of the foregoing the applicable Indemnified Party, subject to
Section 8.07, shall use commercially reasonable good faith efforts to seek to
collect or recover any Insurance Proceeds to which such Indemnified Party is
entitled in connection with any Loss for which the Indemnified Party seeks
indemnification pursuant to this Article VIII; provided, however, that if the
Loss is subject to the Environmental Indemnification Provisions, the applicable
Buyer Indemnitee shall only be required to seek to collect or recover Insurance
Proceeds under the PLL Policy or the Environmental Policy and not any other
insurance policy; and provided, further, that the parties acknowledge that any
claims by any Indemnified Party against an Indemnifying Party under this Article
VIII are separate and independent from any claims under any applicable insurance
policies and that the Indemnifying Party’s obligation to indemnify, defend and
hold harmless the Indemnified Party for such Losses is not limited, conditioned
or otherwise affected in any way upon any potential or actual recovery under
such policies, or any position taken by Sellers, Buyer or any Company with any
carrier or other third party in connection with any claims under such policies,
or any assistance provided by Sellers, Buyer or any Company in connection with
any claims under such policies. (p) The Parties acknowledge that the
indemnification rights and obligations of the Parties specifically set forth in
this Article VIII are the sole and exclusive indemnification rights of the
Parties with respect to the matters set forth in this Article VIII and any
matters related thereto and that the Parties expressly disclaim any and all
statutory or common law rights of indemnification with respect to the matters
set forth in this Article VIII. Section 8.05 Indemnification Procedures. The
party making a claim under this Article VIII is referred to as the “Indemnified
Party”, and the party against whom such claims are asserted under this Article
VIII is referred to as the “Indemnifying Party”. (a) Third Party Claims. If any
Indemnified Party receives notice of the assertion or commencement of any Action
made or brought by any Person who is not a party to this Agreement or an 46
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Affiliate of a party to this Agreement or a Representative of the foregoing (a
“Third Party Claim”) against such Indemnified Party with respect to which the
Indemnifying Party is obligated to provide indemnification under this Agreement,
the Indemnified Party shall give the Indemnifying Party reasonably prompt
written notice thereof, but in any event not later than ten (10) days after
receipt of such notice of such Third Party Claim. The failure to give such
prompt written notice shall not, however, relieve the Indemnifying Party of its
indemnification obligations, except and only to the extent that the Indemnifying
Party is prejudiced or forfeits rights or defenses by reason of such failure.
Such notice by the Indemnified Party shall (A) describe the Third Party Claim in
reasonable detail, (B) in the case of a Third Party Claim against a Buyer
Indemnitee, shall specify the applicable clause(s) of Section 8.02 under which
such Buyer Indemnitee is claiming indemnification from Sellers and the
applicable limitation provision(s) of Section 8.04 related thereto, and (C)
shall include copies of all material written evidence thereof and shall indicate
the estimated amount, if reasonably practicable, of the Loss that has been or
may be sustained by the Indemnified Party. The Indemnifying Party shall have the
right to participate in, or by giving written notice to the Indemnified Party
within fifteen (15) days of receipt of notice from the Indemnified Party of the
commencement of such Third Party Claim, to assume the defense of any Third Party
Claim at the Indemnifying Party’s expense and by the Indemnifying Party’s own
counsel, and the Indemnified Party shall cooperate in good faith in such
defense; provided, however, that the Indemnifying Party shall not be entitled to
assume the defense, contest, or prosecute such Third Party Claim, or any portion
thereof, if (i) the Third Party Claim, or any portion thereof, relates to any
criminal activity or breach of Law or Action with respect thereto, (ii) the
Third Party Claim primarily seeks an injunction or non-monetary or equitable
relief against the Indemnified Party, (iii) the amount in dispute exceeds the
maximum amount for which the Indemnifying Party can then be liable pursuant to
this Article VIII in light of the limitations on indemnification contained in
this Article VIII, if applicable, and any prior indemnification claims paid or
outstanding (unless the Indemnified Party agrees to waive such limitations on
indemnification contained in this Article VIII, if applicable, with respect to
such dispute), (iv) the Indemnifying Party does not agree in writing that it is
obligated to pay all Losses arising from or related to such Third Party Claim
subject only to the limitations on indemnification contained in this Article
VIII, if applicable, (v) the Indemnifying Party does not, upon assumption
thereof in accordance herewith, conduct the defense of such Third Party Claim
actively and diligently, (vi) such Third Party Claim includes as the named
parties in any such claim both the Indemnifying Party and the Indemnified Party
and the Indemnifying Party or the Indemnified Party reasonably determine upon
the advice of counsel that representation of both parties by the same counsel
would be prohibited by applicable codes of professional conduct, or (vii) the
Third Party Claim is asserted directly or indirectly by a customer or supplier,
including any Material Customer or Material Supplier, of any Company; provided
that the Indemnified Party agrees to consult with the Indemnifying Party in
connection with Third Party Claims described in subsections (iii) through (vii)
of this Section 8.05(a). In the event that the Indemnifying Party assumes the
defense of any Third Party Claim, subject to Section 8.05(b), it shall have the
right to take such action as it deems necessary to avoid, dispute, defend,
appeal or make counterclaims pertaining to any such Third Party Claim in the
name and on behalf of the Indemnified Party. The Indemnified Party shall have
the right to participate in the defense of any Third Party Claim with counsel
selected by it subject to the Indemnifying Party’s right to control the defense
thereof. The fees and disbursements of such counsel shall be at the expense of
the Indemnified Party, provided, however, that, if, in the reasonable opinion of
counsel to the Indemnified Party, (A) there are legal defenses available to an
Indemnified Party that are different from or additional to those available to
the Indemnifying Party; or (B) there exists a conflict of interest between the
Indemnifying Party and the Indemnified Party that cannot be waived, the
Indemnifying Party shall, subject to the provisions of this Article VIII
(including Section 8.04 hereof), be liable for the reasonable fees and expenses
of one counsel to the Indemnified Party in each jurisdiction where the
Indemnified Party determines counsel is reasonably required. If the Indemnifying
Party elects not to compromise or defend such Third Party claim, fails to
promptly notify the Indemnified Party in writing of its election to defend as
provided in this Agreement or fails to actively and diligently prosecute the
defense of such Third Party Claim, or is not entitled to assume the defense of
(or subsequently fails to be entitled to continue to assume the defense of) such
Third Party 47 302010047 v18

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[exhibit103eaglesecuritie053.jpg]
Claim, the Indemnified Party may, subject to Section 8.05(b), pay, compromise or
defend such Third Party Claim and shall be entitled, subject to the provisions
of this Article VIII, to seek indemnification for any and all Losses based upon,
arising from or relating to such Third Party Claim (including the advancement of
its attorneys’ fees and expenses in defending such Third Party Claim). Sellers
and Buyer shall cooperate with each other in all reasonable respects in
connection with the defense of any Third Party Claim, including making available
pertinent records and other information in the possession or control of the
non-defending party relating to such Third Party Claim and furnishing, without
expense (other than reimbursement of actual out-of-pocket expenses) to the
defending party, management employees of the non-defending party as may be
reasonably necessary for the preparation of the defense of such Third Party
Claim. (b) Settlement of Third Party Claims. Notwithstanding any other provision
of this Agreement, neither the Indemnifying Party nor the Indemnified Party
shall enter into settlement or consent to the entry of any judgment with respect
to any Third Party Claim without the prior written consent of the other party,
which consent shall not be unreasonably withheld, conditioned or delayed, in
each case, except as provided in this Section 8.05(b). If a firm offer is made
to settle a Third Party Claim without leading to liability or the creation of a
financial or other obligation on the part of the Indemnified Party and provides,
in customary form, for the unconditional release of each Indemnified Party from
all liabilities and obligations in connection with such Third Party Claim and
the Indemnifying Party desires to accept and agree to such offer, the
Indemnifying Party shall give written notice to that effect to the Indemnified
Party. If the Indemnified Party fails to consent to such firm offer within ten
(10) days after its receipt of such notice, the Indemnified Party may continue
to contest or defend such Third Party Claim and in such event, the maximum
liability of the Indemnifying Party as to such Third Party Claim shall not
exceed the amount of such settlement offer. If the Indemnified Party fails to
consent to such firm offer and also fails to promptly assume defense of such
Third Party Claim, the Indemnifying Party may settle the Third Party Claim upon
the terms set forth in such firm offer to settle such Third Party Claim. If the
Indemnified Party has assumed the defense pursuant to Section 8.05(a), it shall
not agree to any settlement without the written consent of the Indemnifying
Party (which consent shall not be unreasonably withheld or delayed). (c) Direct
Claims. Any Action by an Indemnified Party on account of a Loss that does not
result from a Third Party Claim (a “Direct Claim”) shall be asserted by the
Indemnified Party giving the Indemnifying Party reasonably prompt written notice
thereof, but in any event not later than thirty (30) days after the Indemnified
Party becomes aware of such Direct Claim. The failure to give such prompt
written notice shall not, however, relieve the Indemnifying Party of its
indemnification obligations, except and only to the extent that the Indemnifying
Party is prejudiced or forfeits rights or defenses by reason of such failure.
Such notice by the Indemnified Party (i) shall describe the Direct Claim in
reasonable detail, (ii) in the case of a Direct Claim by a Buyer Indemnitee,
shall specify the applicable clause(s) of Section 8.02 under which such Buyer
Indemnitee is claiming indemnification from Sellers and the applicable
limitation provision(s) of Section 8.04 related thereto, and (iii) shall include
copies of all material written evidence thereof and shall indicate the estimated
amount, if reasonably practicable, of the Loss that has been or may be sustained
by the Indemnified Party. The Indemnifying Party shall have thirty (30) days
after its receipt of such notice to respond in writing to such Direct Claim. The
Indemnified Party shall allow the Indemnifying Party and its professional
advisors to investigate the matter or circumstance alleged to give rise to the
Direct Claim, and whether and to what extent any amount is payable in respect of
the Direct Claim and the Indemnified Party shall assist the Indemnifying Party’s
investigation by giving such information and assistance (including access to the
Companies’ premises and personnel and the right to examine and copy any
accounts, documents or records) as the Indemnifying Party or any of its
professional advisors may reasonably request. If the Indemnifying Party does not
so respond within such thirty (30) day period, the Indemnifying Party shall be
deemed to have rejected such claim, in which case the Indemnified Party shall be
free to pursue such remedies as may be available to the Indemnified Party on the
terms and subject to the provisions of this Agreement. 48 302010047 v18

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[exhibit103eaglesecuritie054.jpg]
Section 8.06 Payments. Once a Loss is agreed to by the Indemnifying Party or
finally adjudicated to be payable pursuant to this Article VIII, the
Indemnifying Party shall satisfy its payment obligations under this Article VIII
within fifteen (15) Business Days of such agreement or final, non- appealable
adjudication by wire transfer of immediately available funds; provided, however,
that in the case of a claim (i) under Section 8.02(a) with respect to any Losses
or any claim for indemnification arising out of any inaccuracy in or breach of
any representation or warranty in the Environmental Representation or (ii) under
Section 8.02(f) (collectively, the “Environmental Indemnification Provisions” ),
if a Buyer Indemnitee has submitted a claim regarding such Loss to the
applicable carrier under the PLL Policy, the Environmental Policy, or both, and
such Buyer Indemnitee has elected to have Sellers control such claim, Sellers
shall satisfy their payment obligations within ninety (90) calendar days of such
agreement or non- appealable adjudication by wire transfer of immediately
available funds; provided, further, that the receipt of any insurance proceeds
by any Indemnifying Party shall not be a condition to such Indemnifying Party’s
payment obligations under this Section 8.06. The parties agree that should a
Indemnifying Party not make full payment of any such obligations within such
fifteen (15) Business Day or ninety (90) calendar day period, as applicable, any
amount payable shall accrue interest from and including the date of agreement of
the Indemnifying Party or final, non-appealable adjudication to and including
the date such payment has been made at a rate per annum equal to the Reference
Rate. Such interest shall be calculated daily on the basis of a 365 day year and
the actual number of days elapsed, without compounding. If an Indemnifying Party
breaches its obligation to pay any amount hereunder, the Indemnified Party may,
in addition to any other rights or remedies it may have, proceed against any
securities, payments or other property, directly or indirectly, owned by or owed
to any member or shareholder, as applicable, of the Indemnifying Party,
including, with respect to Sellers, any securities, payments, or other property
owned or owed under any other Transaction Document, and the Indemnifying Party
shall take any and all actions, including granting any powers of attorney, stock
transfer powers, or other authorizations amending any Contracts, to permit such
recourse. Section 8.07 Insured Claims. An Indemnified Party shall provide prompt
written notice to the Indemnifying Party of any claim submitted by it to an
insurance carrier, including a claim submitted under the PLL Policy or the
Environmental Policy, related to a matter subject to indemnification under this
Agreement and of any Insurance Proceeds related thereto. With respect to any
claim submitted to the applicable carrier under the PLL Policy, the
Environmental Policy, or both, based on any Losses subject to Seller’s
obligations under the Environmental Indemnification Provisions (an “Insured
Indemnification Claim”), provided that Sellers have agreed in writing that they
are obligated to pay for all such Losses, subject only to the limitations on
indemnification contained in this Article VIII, a Buyer Indemnitee may elect, by
delivering to Sellers a timely notice that a claim has been submitted to the
applicable carrier under the PLL Policy, the Environmental Policy, or both,
which notice includes such election, to have Sellers control such claim for
insurance coverage under the PLL Policy and/or the Environmental Policy (as
applicable) on behalf of all named insureds under the PLL Policy and/or the
Environmental Policy (as applicable), and in such event, (i) Sellers shall
actively and diligently pursue such claim under the PLL Policy and/or the
Environmental Policy (as applicable) at Sellers’ expense, (ii) Sellers shall not
settle or consent to any judgment with respect to such claim without Buyer’s
prior written consent, not to be unreasonably withheld, conditioned or delayed,
and (iii) Buyer shall, and shall cause its Affiliates (including Coram) to,
cooperate with Sellers in all reasonable respects in connection with such claim,
including making available pertinent records and other information in the
possession or control of and furnishing, without expense (other than
reimbursement of actual out-of-pocket expenses) to Sellers, employees of Buyer,
in each case as may be reasonably necessary for the pursuit of such claim. If
(A) the applicable Buyer Indemnitee has not elected to have Sellers control a
claim under the PLL Policy, the Environmental Policy, or both, and (B) in the
case of a Insured Indemnification Claim, Sellers have agreed in writing that
they are obligated to pay for all such Losses underlying an Insured
Indemnification Claim, subject only to the limitations on indemnification
contained in this Article VIII, then Buyer and Coram shall have the exclusive
right, on behalf of all named insureds under such policies (including Sellers),
to control any claim 49 302010047 v18

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[exhibit103eaglesecuritie055.jpg]
made against the PLL Policy or the Environmental Policy, whether such claim is
an Insured Indemnification Claim or otherwise, and shall have the right, in its
sole and absolute discretion, to take all such actions as it deems necessary
with respect to such claim, and to make any and all determinations regarding the
timing of such claim, the amount of such claim, the timing and amount of any
settlement, or any other matter related to the claim process; provided that
Buyer and Coram (i) shall, in the case of an Insured Indemnification Claim,
pursue such claim against the PLL Policy and/or the Environmental Policy (as
applicable) actively, diligently and in good faith, and shall use commercially
reasonable efforts to maximize Insurance Proceeds with respect to such claim,
taking into account the relative costs of pursuing such Insurance Proceeds, the
potential magnitude of recovery (if determinable), the likelihood of success of
such efforts, and whether any Losses incurred in connection with such efforts
would exceed the applicable limitations on Sellers’ liability under Section
8.04, (ii) shall not settle or consent to any judgment with respect to an
Insured Indemnification Claim without Sellers’ prior written consent, not to be
unreasonably withheld, conditioned or delayed; and (iii) copy Sellers on all
correspondence and submissions related to such claims. Notwithstanding the
foregoing, during the period beginning on the Closing Date and ending on the
date that Sellers are no longer liable under the Environmental Indemnification
Provisions, Buyer shall not, and shall cause its Affiliates and Representatives
not to, make any claim against the PLL Policy with respect to any matter that is
not an Insured Indemnification Claim or a claim with respect to Losses arising
from an Emerging Contaminant. The parties acknowledge that the PLL Policy and
the Environmental Policy are or may be subject to various limitations, including
retrospectively-rated premiums, deductibles, self-insured retentions,
retentions, insurer insolvencies, impairment, erosion, exhaustion, and various
settlements and/or releases that may impose defense, indemnification or any
other obligations on Seller, Buyer or the Companies. The parties further
acknowledge that, if any named insured’s assertion of insurance rights under any
policy of insurance in accordance with this Agreement gives rise, directly or
indirectly, to any obligations imposed on the Sellers, Buyer, any Company or any
of their respective Affiliates, including any costs, expenses, attorneys’ fees,
deductibles, self-insured retentions, retentions or retrospectively-rated
premiums, or to any defense, indemnity or hold harmless obligations related to
insurance settlement(s), such obligations shall be considered Losses subject to
the applicable obligations of Sellers under Section 8.02 (in cases where any
Buyer Indemnitee is the Indemnified Party) or Buyer under Section 8.03 (in cases
where any Seller Indemnitee is the Indemnified Party), as the case may be.
ARTICLE IX MISCELLANEOUS Section 9.01 Expenses. Except as otherwise expressly
provided herein, all costs and expenses, including fees and disbursements of
counsel, Representatives, financial advisors, accountants and other professional
service providers, incurred in connection with this Agreement and the
transactions contemplated hereby shall be paid by the party incurring such costs
and expenses, whether or not the Closing shall have occurred. Notwithstanding
the foregoing, the parties acknowledge that Buyer is responsible for, and has
paid, the entire cost of any filing required to be made on behalf of Buyer,
Sellers or the Companies pursuant to the HSR Act in connection with the
transactions contemplated hereby. Section 9.02 Notices. All notices, requests,
consents, claims, demands, waivers and other communications hereunder shall be
in writing and shall be deemed to have been given (a) when delivered by hand
(with written confirmation of receipt); (b) when received by the addressee if
sent by a nationally recognized overnight courier (receipt requested); (c) on
the date sent by facsimile or e-mail of a PDF document (with confirmation of
transmission) if sent during normal business hours of the recipient, and on the
next Business Day if sent after normal business hours of the recipient; or (d)
on the fifth day after the date mailed, by certified or registered mail, return
receipt requested, postage prepaid. Such communications must be sent to the
respective 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
9.02): 50 302010047 v18

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[exhibit103eaglesecuritie056.jpg]
If to the Companies prior to the Coram Materials Corp. Closing: P. O. Box 5810
Miller Place, New York 11764 Facsimile: 631-924-8353 E-mail: [*****] with copies
to (which shall not Ruskin Moscou Faltischek, P.C. constitute notice): 1425 RXR
Plaza East Tower, 15th Floor Uniondale, New York 11556 Attention: Russell H.
Stern, Esq. Facsimile: 516-663-6782 E-mail: [*****] If to any Seller(s):
Lorraine Vigliarolo P.O. Box 1555 Miller Place, New York 11764 Facsimile:
631-924-8353 E-mail: [*****] Michael Vigliarolo 354 Parkside Avenue Miller
Place, New York 11764 Facsimile: 631-924-8353 E-mail: [*****] with copies to
(which shall not Ruskin Moscou Faltischek, P.C. constitute notice): 1425 RXR
Plaza East Tower, 15th Floor Uniondale, New York 11556 Attention: Russell H.
Stern, Esq. Facsimile: 516-663-6782 E-mail: [*****] If to Buyer (or the
Companies 331 N. Main Street following the Closing): Euless, Texas 76039
Attention: Chief Executive Officer Facsimile: (817) 835-4165 with copies to
(which shall not 331 N. Main Street constitute notice): Euless, Texas 76039
Attention: Paul M. Jolas Facsimile: (817) 835-4165 51 302010047 v18

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[exhibit103eaglesecuritie057.jpg]
K&L Gates LLP One Newark Center, 10th Floor 1085 Raymond Boulevard Newark, NJ
07102 Attention: Brian S. Montag and Michelle R. McCreery Facsimile: (973)
848-4001 E-mail: [*****]; [*****] Section 9.03 Interpretation. For purposes of
this Agreement, (a) the words “include,” “includes,” “including” or any
variation thereof shall be deemed to be followed by the words “without
limitation” and shall not be construed to limit any general statement that it
follows to the specific or similar items or matters immediately following it;
(b) the word “or” is not exclusive; and (c) the words “herein,” “hereof,”
“hereby,” “hereto” and “hereunder” refer to this Agreement as a whole. Unless
the context otherwise requires, references herein: (x) to Articles, Sections,
Schedules and Exhibits mean the Articles and Sections of, and Schedules and
Exhibits attached to, this Agreement; and (y) to an agreement, instrument or
other document means such agreement, instrument or other document as amended,
supplemented and modified from time to time to the extent permitted by the
provisions thereof. References to any Laws shall be deemed to include any and
all rules and regulations promulgated thereunder and shall refer to such Laws,
rules and regulations as amended from time to time and any successor legislation
thereto (for the avoidance of doubt, with respect to any representations or
warranties related to compliance with any Law, such representation or warranty
shall be made as to the Law in effect as of the date such representation or
warranty is made). Any reference in this Agreement to gender shall include all
genders, and words imparting the singular number shall include the plural and
vice versa. This Agreement shall be construed without regard to any presumption
or rule requiring construction or interpretation against the party drafting an
instrument or causing any instrument to be drafted. The Schedules and Exhibits
referred to herein shall be construed with, and as an integral part of, this
Agreement to the same extent as if they were set forth verbatim herein. Items
and matters disclosed in the Disclosure Schedules are organized to correspond
only to the sections of this Agreement to which the matters relate and shall not
qualify any other provisions of this Agreement. The parties intend that each
representation, warranty and covenant contained herein will have independent
significance. If any party has breached any representation, warranty or covenant
contained herein in any respect, the fact that there exists another
representation, warranty or covenant relating to the same subject matter
(regardless of the relative levels of specificity) that such party has not
breached will not detract from or mitigate the fact that the party is in breach
of the other representation, warranty or covenant. The specification of any
dollar amount or the inclusion of any item in the representations and warranties
contained in this Agreement or the Disclosure Schedules or any exhibits attached
to this Agreement shall not be deemed to establish a threshold for materiality
or to establish the standard for whether a particular act or agreement is within
or outside the Ordinary Course of Business for purposes of this Agreement. When
calculating the period of time before which, within which or following which any
act is to be done or step taken pursuant to this Agreement, the date that is the
reference date in calculating such period shall be excluded. If the last day of
such period is a non-Business Day, the period in question shall end on the next
succeeding Business Day. As used in this Agreement, the word “day” shall mean a
calendar day and not a Business Day. With respect to all dates and time periods
set forth or referred to in this Agreement, time is of the essence. For purposes
of determining the existence of an inaccuracy in any representations or
warranties, the failure of any representations or warranties to be true and
correct, the breach of any covenants or agreements and calculating Losses
hereunder, any materiality, Material Adverse Effect, or similar qualifications
in the representations, warranties, covenants and agreements shall be excluded
from, given no effect and be otherwise disregarded. Section 9.04 Headings. The
headings in this Agreement are for reference only and shall not affect the
interpretation of this Agreement. 52 302010047 v18

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[exhibit103eaglesecuritie058.jpg]
Section 9.05 Severability. If any term or provision of this Agreement is
invalid, illegal or unenforceable in any jurisdiction, such invalidity,
illegality or unenforceability shall not affect any other term or provision of
this Agreement or invalidate or render unenforceable such term or provision in
any other jurisdiction. Except as provided in Section 6.02(e), upon such
determination that any term or other provision is invalid, illegal or
unenforceable, 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 manner in order that the transactions
contemplated hereby be consummated as originally contemplated to the greatest
extent possible. Section 9.06 Entire Agreement. This Agreement and the other
Transaction Documents constitute the sole and entire agreement of the parties to
this Agreement with respect to the subject matter contained herein and therein,
and supersede all prior and contemporaneous understandings and agreements, both
written and oral, with respect to such subject matter. In the event of any
inconsistency between the statements in the body of this Agreement and those in
the other Transaction Documents, the Exhibits and Schedules (other than as set
forth in the Schedules), the statements in the body of this Agreement will
control. Section 9.07 Successors and Assigns. This Agreement shall be binding
upon and shall inure to the benefit of the parties hereto and their respective
successors and permitted assigns. No party may assign its rights or obligations
hereunder without the prior written consent of the other parties, which consent
shall not be unreasonably withheld, conditioned or delayed, and any attempted
assignment in violation of this Section shall be null and void ab initio;
provided, however, that Buyer may, without the prior written consent of any
party, assign all or any portion of its rights under this Agreement to any
Affiliate of Buyer now in, or hereinafter to come into, existence, any Person
from which it has borrowed money or any Person to which Buyer or any of its
Affiliates proposes to sell, directly or indirectly, all or substantially all of
the Securities or assets of the Companies’ business. No assignment shall relieve
the assigning party or any guarantor of any of its obligations hereunder.
Section 9.08 No Third Party Beneficiaries. Except as provided in Section 7.03
and Article VIII, this Agreement is for the sole benefit of the parties hereto
and their respective successors and permitted assigns and nothing herein,
express or implied, is intended to or shall confer upon any other Person or
entity any legal or equitable right, benefit or remedy of any nature whatsoever
under or by reason of this Agreement. Section 9.09 Amendment and Modification;
Waiver. This Agreement may only be amended, modified or supplemented by an
agreement in writing signed by each party hereto. No waiver by any party of any
of the provisions hereof shall be effective unless explicitly set forth in
writing and signed by the party so waiving. No action taken pursuant to this
Agreement, including any investigation by or on behalf of any party, shall be
deemed to constitute a waiver by the party taking such action of compliance with
any representation, warranty, covenant or agreement contained herein. No waiver
by any party shall operate or be construed as a waiver in respect of any
failure, breach or default not expressly identified by such written waiver,
whether of a similar or different character, and whether occurring before or
after that waiver. No failure to exercise, or delay in exercising, any right,
remedy, power or privilege arising from this Agreement shall operate or be
construed as a waiver thereof; nor shall any single or partial exercise of any
right, remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power or privilege.
Section 9.10 Governing Law; Submission to Jurisdiction. (a) This Agreement shall
be governed by and construed in accordance with the laws of the State of New
York without giving effect to any choice or conflict of law provision or rule
that would 53 302010047 v18

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[exhibit103eaglesecuritie059.jpg]
cause the application of Laws of any jurisdiction other than those of the State
of New York. (b) ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED
UPON THIS AGREEMENT, THE OTHER TRANSACTION DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY MUST BE INSTITUTED IN THE STATE COURTS OF NEW
YORK OR, IF THEY HAVE OR CAN ACQUIRE JURISDICTION, THE FEDERAL COURTS OF THE
UNITED STATES, IN EACH CASE LOCATED IN THE BOROUGH OF MANHATTAN, CITY AND STATE
OF NEW YORK, AND EACH PARTY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF
SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING. SERVICE OF PROCESS, SUMMONS,
NOTICE OR OTHER DOCUMENT IN ACCORDANCE WITH SECTION 11.02 OF THIS AGREEMENT TO
SUCH PARTY’S ADDRESS SET FORTH HEREIN SHALL BE EFFECTIVE SERVICE OF PROCESS FOR
ANY SUIT, ACTION OR OTHER PROCEEDING BROUGHT IN ANY SUCH COURT. THE PARTIES
IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY OBJECTION TO THE LAYING OF VENUE OF
ANY SUIT, ACTION OR ANY PROCEEDING IN SUCH COURTS AND IRREVOCABLY WAIVE AND
AGREE NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH SUIT, ACTION OR
PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.
(c) Process in any action or proceeding referred to in this Section may be
served on any party through the procedures established for notice herein, with
the exception of facsimile or email notices. Nothing herein shall affect the
right of any party to serve process in any other manner permitted by Law to the
fullest extent permitted by Law. Section 9.11 WAIVER OF JURY TRIAL. EACH OF THE
PARTIES TO THIS AGREEMENT IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY
IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY. Section 9.12 Specific Performance. Subject to
the provisions of this Agreement, the parties agree that irreparable damage
would occur if any provision of this Agreement were not performed in accordance
with the terms hereof and that the parties shall be entitled to specific
performance of the terms hereof, in addition to any other remedy to which they
are entitled at law or in equity. Nothing in this Agreement shall limit any
Person’s right to seek and obtain any specific performance or other equitable
relief to which any Person shall be entitled or to seek any remedy on account of
any party’s fraud, intentional or willful misrepresentation, bad faith, willful
misconduct, or criminal activity. Section 9.13 Counterparts. This Agreement may
be executed in counterparts, each of which shall be deemed an original, but all
of which together shall be deemed to be one and the same agreement. A signed
copy of this Agreement delivered by facsimile, e-mail or other means of
electronic transmission shall be deemed to have the same legal effect as
delivery of an original signed copy of this Agreement. [SIGNATURE PAGE FOLLOWS]
54 302010047 v18

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[exhibit103eaglesecuritie060.jpg]
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
date above first written. COMPANIES: CORAM MATERIALS CORP. By: /s/ Lorraine
Vigliarolo Name: Lorraine Vigliarolo Title: VP MILLER PLACE DEVELOPMENT LLC By:
/s/ Lorraine Vigliarolo Name: Lorraine Vigliarolo Title: VP A.B. OF SAYVILLE,
LTD. By: /s/ Lorraine Vigliarolo Name: Lorraine Vigliarolo Title: VP MLFF REALTY
CORP. By: /s/ Lorraine Vigliarolo Name: Lorraine Vigliarolo Title: VP BSLH
REALTY CORP. By: /s/ Lorraine Vigliarolo Name: Lorraine Vigliarolo Title: VP
SELLERS: /s/ Michael Vigliarolo Michael Vigliarolo /s/ Lorraine Vigliarolo
Lorraine Vigliarolo Signature Page to Securities Purchase Agreement

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[exhibit103eaglesecuritie061.jpg]
BUYER: USC ATLANTIC, INC. By: /s/ Ronnie Pruitt Name: Ronnie Pruitt Title:
President Signature Page to Securities Purchase Agreement

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[exhibit103eaglesecuritie062.jpg]
Annex A Certain Definitions “Action” means any claim, action, suit, cause of
action, charge, demand, lawsuit, arbitration, inquiry, inspection, audit, notice
of violation, proceeding, litigation, citation, summons, subpoena, indictment,
or investigation of any nature, civil, criminal, administrative, investigative,
regulatory or otherwise, whether at law or in equity. “Affiliate” means, with
respect to any Person, any other Person that, directly or indirectly, through
one or more intermediaries, controls, is controlled by or is under common
control with, such Person. The term “control” (including the terms “controlled
by” and “under common control with”) means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and
policies of a Person, whether through the ownership of voting securities, by
Contract or otherwise. “Business Day” means any day except Saturday, Sunday or
any other day on which commercial banks located in New York, New York are
authorized or required by Law to be closed for business. “Closing Cash” means,
without duplication, all cash and bank deposits of the Companies as of the
Effective Time, calculated on a consolidated basis in accordance with GAAP and
in a manner consistent with those methodologies, policies, procedures,
practices, estimation techniques, assumptions and principles set forth on
Schedule II. For the avoidance of doubt, Closing Cash shall (a) be calculated
net of issued but uncleared checks, wire transfers, and drafts and will include
received but as of the Effective Time uncleared checks, wire transfers and
drafts deposited in the accounts of the Companies, (b) not include any
restricted cash or escrowed (including all cash posted to support letters of
credit, performance bonds or other similar obligations) or deposits with third
parties (including any lessors and/or landlords), (c) include all certificates
of deposit of Coram at Peoples United Bank, (d) not include any Accounts
Receivable and (e) include the prepaid expenses set forth on Exhibit F. “Closing
Indebtedness” means, all Indebtedness as of the Effective Time of the Companies,
calculated in accordance with GAAP and in a manner consistent with those
methodologies, policies, procedures, practices, estimation techniques,
assumptions and principals set forth on Schedule II, including any such
Indebtedness described on Schedule IV. “Code” means the Internal Revenue Code of
1986, as amended. “Confidentiality Agreement” means the confidentiality
agreement, dated as of July 25, 2016, by and between U.S. Concrete, Inc. and
Coram Materials Corp. “Contracts” means all contracts, subcontracts, leases,
subleases, deeds, mortgages, licenses, sublicenses, instruments, notes, bonds,
commitments, undertakings, indentures, joint ventures and all other agreements,
commitments and legally binding arrangements or obligations, whether written or
oral. “Disclosure Schedules” means the Disclosure Schedules delivered by Sellers
and Buyer concurrently with the execution and delivery of this Agreement.
“Dollars or $” means the lawful currency of the United States. “Emerging
Contaminant” means a substance listed pursuant to N.Y. Public Health Law § 1112,
including per- and polyfluoroalkyl substances (which includes
perfluorooctanesulfonic acid (PFOS) and perfluorooctanoic acid (PFOA)), and
1,4-Dioxane or pursuant to the Unregulated Contaminant Monitoring Rule
promulgated by the EPA under the Safe Drinking Water Act. Annex-1 887245.9
302010047 v13 302010047 v18

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[exhibit103eaglesecuritie063.jpg]
“Encumbrance” means any encumbrance, security interest, charge, claim,
limitation, mortgage, option, community property interest, pledge, condition,
equitable interest, deed of trust, deed to secure debt, statutory or other lien
(including any monetary lien of any type or character (e.g., any mechanic’s or
materialmen’s lien, security interest or mortgage)), proxy, voting trust or
agreement, easement, servitude, encroachment, right of way, option, right of
first offer, rights of first refusal or restriction of any kind, including any
restriction on use, voting, transfer, receipt of income or exercise of any other
attribute of ownership, rights of reversion or any reservation right and any
third party possessory interests including any Contract granting any of the
foregoing. “Environmental Claim” means any Action, Order, lien, Liability, fine,
penalty or, as to each, any settlement or judgment arising therefrom, by or from
any Person alleging Liability of whatever kind or nature (including Liability or
responsibility for the costs of enforcement proceedings, investigations,
cleanup, governmental response, removal or remediation, natural resources
damages, property damages, testing, site monitoring, personal injuries, medical
monitoring, penalties, contribution, indemnification and injunctive relief)
arising out of, based on or resulting from: (a) the presence, Release of or
exposure to, any Hazardous Materials; or (b) any actual or alleged
non-compliance with any Environmental Law or term or condition of any
Environmental Permit. “Environmental Law” means any Law, and any Order or
binding agreement with any Governmental Authority: (a) relating to pollution (or
the cleanup thereof) or the protection of natural resources, endangered or
threatened species, human health or safety or the environment (including ambient
air, soil, surface water or groundwater or subsurface strata); or (b) concerning
the presence of, exposure to or the management, manufacture, use, handling,
containment, storage, recycling, reclamation, reuse, treatment, generation,
discharge, transportation, transfer, distribution, processing, production,
disposal, discharge, Release, control or other action or failure to act
involving remediation of any Hazardous Materials. The term “Environmental Law”
includes the following (including their implementing regulations and any state
analogs): the Comprehensive Environmental Response, Compensation and Liability
Act of 1980, as amended by the Superfund Amendments and Reauthorization Act of
1986, 42 U.S.C. §§ 9601 et seq.; the Solid Waste Disposal Act, as amended by the
Resource Conservation and Recovery Act of 1976, as amended by the Hazardous and
Solid Waste Amendments of 1984, 42 U.S.C. §§ 6901 et seq.; the Federal Water
Pollution Control Act of 1972, as amended by the Clean Water Act of 1977, 33
U.S.C. §§ 1251 et seq.; the Toxic Substances Control Act of 1976, as amended, 15
U.S.C. §§ 2601 et seq.; the Emergency Planning and Community Right-to-Know Act
of 1986, 42 U.S.C. §§ 11001 et seq.; the Clean Air Act of 1966, as amended by
the Clean Air Act Amendments of 1990, 42 U.S.C. §§ 7401 et seq.; and the
Occupational Safety and Health Act of 1970, as amended, 29 U.S.C. §§ 651 et seq.
“Environmental Notice” means any directive, notice of violation or infraction or
notice respecting any Environmental Claim relating to actual or alleged
non-compliance with any Environmental Law or any term or condition of any
Environmental Permit. “Environmental Permit” means any Permit, letter,
clearance, condition, consent, waiver, closure, exemption, decision or other
action required under or issued, granted, given, authorized by or made pursuant
to Environmental Law. “ERISA” means the Employee Retirement Income Security Act
of 1974, as amended, and the regulations promulgated thereunder. “ERISA
Affiliate” means, with respect to any Person, any other Person that, together
with such first Person, would be treated as a single employer under Section
4001(b)(1) of ERISA or Section 414 of the Code. Annex-2 302010047 v18

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[exhibit103eaglesecuritie064.jpg]
“Excluded Item” means any and all Liabilities based upon or arising out of (or
alleged to be based upon or arising out of): (a) any Contracts with, obligations
to, or prior relationships or dealings with any Related Party, (b) any
Indebtedness owed by or to any Seller or any Affiliate of any Seller (other than
the Closing Indebtedness set forth on the Payoff Letters), (c) any Outstanding
Consents, (d) any dispute or allegations among the Sellers, and (e) any item,
event, or other matter set forth on or described as an Excluded Item on Schedule
III. “GAAP” means United States generally accepted accounting principles as in
effect from time to time. “Governmental Authority” means any federal, state,
local or foreign government or political subdivision thereof, or any agency,
authority, board, branch, bureau, commission, department, instrumentality,
official, subdivision, or instrumentality of such government or political
subdivision, or any self-regulated organization or other non-governmental
regulatory authority or quasi-governmental authority (to the extent that the
rules, regulations or orders of such organization or authority have the force of
Law), or any arbitrator, court or tribunal of competent jurisdiction. “Hazardous
Materials” means: (a) any material, substance, chemical, waste, product,
derivative, compound, mixture, solid, liquid, mineral or gas, in each case,
whether naturally occurring or manmade, the presence of which requires
investigation, control or remediation under any Environmental Laws or that is
hazardous, acutely hazardous, a pollutant, toxic, explosive, corrosive,
flammable, infectious, radioactive, carcinogenic or words of similar import or
regulatory effect under Environmental Laws; and (b) any petroleum or
petroleum-derived products, radon, radioactive materials or wastes, asbestos in
any form, lead or lead-containing materials, urea formaldehyde foam insulation
and polychlorinated biphenyls. “HSR Act” means the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended. “Indebtedness” of any Person means,
without duplication, (a) the principal, accrued and unpaid interest, prepayment
and redemption premiums or penalties (if any), unpaid fees or expenses and other
monetary obligations in respect of (i) indebtedness of such Person for money
borrowed and (ii) indebtedness evidenced by notes, debentures, bonds or other
similar instruments for the payment of which such Person is responsible or
liable; (b) all vendor financing arrangements; (c) all obligations of such
Person issued or assumed as the deferred purchase price of property, all
conditional sale obligations of such Person and all obligations of such Person
under any title retention agreement; (d) all obligations of such Person under
leases required to be capitalized in accordance with GAAP; (e) all obligations
of such Person for the reimbursement of any obligor on any letter of credit,
banker’s acceptance, surety bond, performance bond or similar credit
transaction; (f) all obligations of such Person under interest rate or currency
swap transactions or commodity hedges (valued at the termination value thereof);
(g) the liquidation value, accrued and unpaid dividends, prepayment or
redemption premiums and penalties (if any), unpaid fees or expenses and other
monetary obligations in respect of any redeemable preferred stock (or other
equity) of such Person; (h) an aggregate amount equal to the earned and unused
vacation pay, sick pay and paid time off of or owed to the employees of each
Company as of the Closing Date; (i) all obligations of the type referred to in
clauses (a) through (h) of any other Persons for the payment of which such
Person is responsible or liable, directly or indirectly, as obligor, guarantor,
surety or otherwise, including guarantees of such obligations; (j) all
obligations of the type referred to in clauses (a) through (h) of other Persons
secured by (or for which the holder of such obligations has an existing right,
contingent or otherwise, to be secured by) any Encumbrance on any property or
asset of such Person (whether or not such obligation is assumed by such Person).
“Insurance Proceeds” means those monies (i) received by an insured (or its
successor-in-interest) from an insurance carrier or (ii) paid by an insurance
carrier on behalf of an insured (or its successor-in- Annex-3 302010047 v18

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[exhibit103eaglesecuritie065.jpg]
interest), in each case net of any applicable deductible, retention and costs of
pursuing any insurance providers (including reasonable attorneys’ fees).
“Intellectual Property” means all rights in and to the following worldwide: (a)
trade names, trademarks, service marks, trade dress and logos, Internet domain
names, other indicia of origin and all registrations of and applications to
register any of the foregoing, including the goodwill symbolized thereby or
associated therewith; (b) patents, patent applications, utility models,
statutory invention registrations, mask works, invention disclosures and
industrial/product designs, whether or not patentable, and all reissues,
divisional, renewal, extensions, provisionals, continuations and
continuations-in-part thereof; (c) copyrights and original works of authorship,
including rights in proprietary computer software, source code, object code,
other original works of authorship and moral rights; (d) Trade Secrets and (e)
other proprietary and/or confidential information. “Knowledge of Sellers” or
“Sellers’ Knowledge” or any other variant thereof or similar knowledge
qualification, means the actual knowledge in each case, after due inquiry, of
any Seller or Michael Vigliarolo, Jr. “Landfill Matter” means any matter
described in Section 8.02(f) that arises out of or relates to the landfill
located on the Real Property. “Law” means any statute, law, ordinance,
regulation, rule, code, Order, constitution, treaty or other requirement or rule
of law of any Governmental Authority, including an arbitration panel, and any
principle of common law or judicial or administrative interpretation thereof.
“Liabilities” means any debt, loss, damage, adverse claim, fine, penalty,
liability or obligation (whether direct or indirect, known or unknown, asserted
or unasserted, absolute or contingent, accrued or unaccrued, matured or
unmatured, determined or determinable, disputed or undisputed, liquidated or
unliquidated, conditional or unconditional, or due or to become due, joint or
several, and whether in contract, tort, strict liability or otherwise, and
including all costs and expenses relating thereto including all reasonable fees,
disbursements and expenses of legal counsel, experts, engineers, and consultants
and costs of investigation), regardless of whether such debt, loss, damage,
adverse claim, fine, penalty, liability or obligation would be required to be
disclosed on a balance sheet prepared in accordance with GAAP and regardless of
whether such debt, loss damage, adverse claim, fine, penalty, liability or
obligation is immediately due and payable. “Losses” means losses, damages,
Liabilities, deficiencies, judgments, interest, awards, settlement payments or
other amounts, penalties, fines, costs or expenses of whatever kind, including
reasonable attorneys’ fees and the cost of enforcing any right to
indemnification hereunder and the cost of pursuing any insurance providers;
provided, however, that “Losses” shall not include punitive damages (except to
the extent paid or payable in connection with a Third Party Claim). “Material
Adverse Effect” means any result, event, occurrence, fact, condition, violation
or change (whether or not constituting a breach of a representation, warranty or
covenant set forth in this Agreement) that has, or could reasonably be expected
to have, individually or in the aggregate, a materially adverse effect on (a)
the business, results of operations, prospects or condition (financial or
otherwise) liabilities, or assets of the Companies, taken as a whole, or (b) the
ability of Sellers to consummate the transactions contemplated hereby on a
timely basis in accordance with the terms of this Agreement; provided, however,
that “Material Adverse Effect” shall not include any result, event, occurrence,
fact, condition, violation or change, directly or indirectly, arising out of or
attributable to: (i) general economic or political conditions; (ii) changes that
generally affect the industries in which the Companies operate; (iii) any
changes in accounting rules or principles, including changes in GAAP; (iv) any
changes in financial or securities Annex-4 302010047 v18

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[exhibit103eaglesecuritie066.jpg]
markets in general; or (v) conditions caused by acts of terrorism or war
(whether or not declared); provided further, however, that any result, event,
occurrence, fact, condition, violation or change referred to in clauses (i),
(ii), (iii). (iv) and (v) immediately above shall be taken into account in
determining whether a Material Adverse Effect has occurred or could reasonably
be expected to occur to the extent that such result, event, occurrence, fact,
condition, violation or change has a disproportionate effect on the Companies,
taken as a whole, compared to other participants in the industries in which the
Companies conduct their business. “Order” means any order, writ, judgment,
ruling, injunction (temporary, preliminary, or permanent), decree, doctrine,
stipulation, assessment, determination or award entered by, with or before any
Governmental Authority. “Organizational Documents” means (a) in the case of a
Person that is a corporation, its articles or certificate of incorporation and
its bylaws, regulations or similar governing instruments required by the laws of
its jurisdiction of formation or organization; (b) in the case of a Person that
is partnership, its articles or certificate of partnership, formation or
association, and its partnership agreement (in each case, limited, limited
liability, general or otherwise); (c) in the case of a Person that is a limited
liability company, its articles or certificate of formation or organization and
its limited liability company agreement or operating agreement; and (d) in the
case of a Person that is none of a corporation, partnership (limited, limited
liability, general or otherwise), limited liability company or natural person,
its governing instruments as required or contemplated by the laws of its
jurisdiction of organization. “Owned Intellectual Property” means Intellectual
Property owned by the Companies, in whole or in part. “Payoff Letters” means,
(a) with respect to Company Indebtedness, the payoff letter(s) provided by
Sellers in form and substance reasonably acceptable to Buyer, addressed to Buyer
(or on which Buyer is otherwise expressly granted the right to rely), signed by
the Persons to which Indebtedness is payable, setting forth (i) the amount
required to pay off in full at the Effective Time all amounts owing in
connection with such Company Indebtedness (including the outstanding principal,
accrued and unpaid interest and prepayment and other penalties), (ii) wire
transfer instructions for the payment of such amounts and (iii) the commitment
to release any and all Encumbrances which such Person may hold on any of the
assets of the Companies upon receipt of the payoff amount set forth therein and
(b) with respect to Transaction Expenses, the fee statement letters or other the
formal statement(s), in form and substance reasonably acceptable to Buyer,
addressed to Buyer (or on which Buyer is otherwise expressly granted the right
to rely), from each of the Representatives of Sellers and the Companies to which
Transaction Expenses will be owed or outstanding as of the Closing Date
indicating (i) that upon payment of the amount specified therein, all
obligations of Sellers and the Companies (other than contingent indemnity
obligations) to such Persons shall be satisfied in full and (ii) the wire
transfer instructions for the payment of such amounts. “Permits” means all
permits, licenses, franchises, approvals, authorizations, registrations,
certificates, variances and similar rights obtained, or required to be obtained,
from Governmental Authorities in respect of the Companies’ business. “Permitted
Encumbrances” means (a) liens for Taxes and water and sewage charges not yet due
and payable, (b) covenants, conditions, restrictions and reservations that do
not, individually or in the aggregate interfere in any material respect with the
present or future use or occupancy of the Real Property and (c) variations
between tax lot lines and lines of record title, and (d) any state of facts
which would be shown on or by an accurate current survey of the Real Property.
“Person” means and includes natural persons, corporations, limited partnerships,
general partnerships, limited liability companies, limited liability
partnerships, joint stock companies, joint Annex-5 302010047 v18

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[exhibit103eaglesecuritie067.jpg]
ventures, associations, companies, trusts, banks, trust companies, land trusts,
business trusts or other organizations. “Post-Closing Tax Period” means any
taxable period beginning after the Closing Date and, with respect to any taxable
period beginning before and ending after the Closing Date, the portion of such
taxable period beginning after the Closing Date. “Pre-Closing Tax Period” means
any taxable period ending on or before the Closing Date and, with respect to any
taxable period beginning before and ending after the Closing Date, the portion
of such taxable period ending on and including the Closing Date. “Pre-Closing
Taxes” means (a) Taxes of each Company for any Pre-Closing Tax Period and (b)
any sales (including bulk sales) Tax or similar Tax imposed as a result of the
transactions contemplated by this Agreement and any penalties or interest with
respect to such Taxes. “Reference Rate” means the per annum rate of interest
announced from time to time by Bank of America N.A. (or any successor) as its
prime rate (or reference rate). “Related Party” means, with respect to any
specified Person: (a) any Affiliate of such specified Person, or any director,
executive officer, general partner, manager or managing member of such
Affiliate; (b) any Person who serves or within the past five (5) years has
served as a director, executive officer, partner, manager, member or in a
similar capacity of such specified Person; (c) any immediate family member of a
Person described in clause (b); (d) any other Person who holds, individually or
together with any Affiliate of such other Person and any member(s) of such
Person’s immediate family, more than 5% of the outstanding voting equity or
ownership interests of such specified Person, (e) Frank Vigliarolo, Jr. or (f)
Gail Vigliarolo. “Release” means any actual or threatened release, spilling,
leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping,
leaching, dumping, abandonment or disposing into the indoor or outdoor
environment (including ambient air, surface water, groundwater, land surface or
subsurface strata) or within any building, structure, facility or fixture, or
to, from, into, out of or upon any property. “Representative” means, with
respect to any Person, any and all directors, managing members, managers,
officers, employees, consultants, financial advisors, counsel, accountants and
other agents of such Person. “Restricted Business” means the production,
distribution, mining, pumping, hauling, delivering, supplying or sale of
ready-mixed concrete, sand or aggregates, together with such other businesses
currently operated by, or currently proposed to be operated by, any Company,
Buyer, or any of their respective Affiliates or direct or indirect Subsidiaries.
“Subsidiary” means, with respect to any Person, any corporation, partnership,
association, trust or other form of legal entity of which (a) 50% or more of the
voting power of the outstanding voting securities are on the date hereof
directly or indirectly owned by such Person, (b) such Person or any Subsidiary
of such Person is a general partner on the date hereof or otherwise controls
such entity or (c) such Person otherwise consolidates such entity in its
financial statements. “Taxes” means all federal, state, local, foreign and other
income, gross receipts, sales, use, production, ad valorem, transfer, franchise,
registration, profits, license, lease, service, service use, withholding,
payroll, employment, unemployment, estimated, excise, severance, environmental,
fuel, stamp, occupation, premium, property (real or personal), real property
gains, windfall profits, customs, Annex-6 302010047 v18

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[exhibit103eaglesecuritie068.jpg]
duties or other taxes, fees, assessments or charges of any kind whatsoever,
together with any interest, additions or penalties with respect thereto and any
interest in respect of such additions or penalties including any obligation to
indemnify or otherwise attribute or succeed to the Tax Liability of any other
Person. “Tax Return” means any return, declaration, report, claim for refund,
information return or statement or other document relating to Taxes, including
any schedule or attachment thereto, and including any amendment thereof.
“Territory” means, collectively, the area composed of the 100-mile radius of
each location where any Company, Buyer, or any of their Affiliates operates or
provides goods or services. “Title Exceptions” means all exceptions to title set
forth in those certain Commitments for Title Insurance issued by Advantage Title
Agency, Inc. bearing Title Numbers: 18-CS-53324; 18-CS-53325; 18- CS-53326;
18-CS-53327; 18-CS-53328; 18-CS-53633; 18-CS-53739. “Trade Secrets” means
proprietary and/or confidential information, including all know-how, processes
(manufacturing processes), product formulae, technical data and designs,
specifications, vendor/customer lists and price/fee lists. “Transaction
Documents” means this Agreement, the Seller Release, and any other agreements,
certificates and instruments to be executed or delivered in connection herewith
or therewith or pursuant hereto or thereto. “Transaction Expenses” means all
unpaid (whether or not accrued) fees or other payments or obligations owed to
third parties by any Company or any Seller (including those fees, expenses,
payments and obligations incurred by any Company on behalf of any Seller),
arising from or in connection with the negotiation, preparation, execution,
delivery and performance of this Agreement, the transactions contemplated hereby
and any due diligence requests or activity related to such transactions,
including (a) financial advisors’, attorneys’, accountants’ and other
professional fees and expenses, (b) any and all payments arising from retention,
severance, “stay,” sale, transaction or sign-on bonuses as well as any deferred
compensation payable to employees of any Company or any Seller and any other
similar payments to employees and Representatives, including any Company’s, or
any Seller’s portion of employment and similar Taxes associated with such items,
(c) any costs or expenses, including any consent fees, license transfer fees or
similar payments, payable to any third party in connection with the assignment
or assumption of any Contract or Permit and/or the consummation of the
transactions contemplated hereby, and (d) any and all fees, expenses, break
costs (including costs calculated based on difference in swap and current rates)
payments or other costs related to the termination of any swap agreements,
derivative transactions or similar arrangements. “WARN Act” means the federal
Worker Adjustment and Retraining Notification Act of 1988, and similar state,
local and foreign laws related to plant closings, relocations, mass layoffs and
employment losses. Annex-7 302010047 v18

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[exhibit103eaglesecuritie069.jpg]
Exhibit G Purchase Price Allocation Purchase Price allocated among the
Securities: Company Percentage of Purchase Price Allocated to Securities Coram
Materials Corp. Miller Place Development LLC Based on the aggregate value of the
assets of A.B. of Sayville, Ltd. each Company, as described below MLFF Realty
Corp. BSLH Realty Corp. Purchase Price allocated among the assets of each
Company Cash Amount equal to Closing Cash as finally determined (Class I)
pursuant to Section 2.04 of this Agreement. Marketable Securities and Net book
value Certificates of Deposit (Class II) Accounts Receivable Net book value
(Class III) Inventory Fair market value as of the Closing Date (Class IV)
Prepaid Expenses and Other Current Net book value Assets (Class V) Leasehold
Improvements, Machinery Fair market value as of the Closing Date and Equipment,
Furniture and Fixtures and Vehicles (Class V) Real Estate and Buildings Fair
market value as of the Closing Date (Class V) Section 197 Assets including
Remainder Goodwill and Going Concern Value (Class VI and VII) 302010047 v18

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[exhibit103eaglesecuritie070.jpg]
SCHEDULE I Resignations Michael Vigliarolo, Manager/Director, President Lorraine
Vigliarolo, Manager/Director, Vice President, Secretary and Treasurer 302010047
v18

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[exhibit103eaglesecuritie071.jpg]
SCHEDULE II Net Trade Working Capital Principles The Financial Statements of the
Companies have been prepared in a manner consistent with the accounting
principles of GAAP, with the exception that (i) they have never been audited,
(ii) they do not account for inventory, and (iii) certain expenses have been
capitalized which may not be eligible for the same type treatment under GAAP.
302010047 v18

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[exhibit103eaglesecuritie072.jpg]
SCHEDULE III Excluded Items The only entities included the transactions
contemplated hereby are the Companies. All other Persons, including, but not
limited to, any Affiliates thereof or of any of the Sellers are excluded and
such Persons and all Liabilities associated therewith shall be Excluded Items.
302010047 v18

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[exhibit103eaglesecuritie073.jpg]
SCHEDULE IV Closing Indebtedness 302010047 v18

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