EXHIBIT
2.1



DATED
	            9 July            	2015



TAGMASTER
AKTIEBOLAG



as
Purchaser



-and-



IMAGE
SENSING SYSTEMS EMEA LIMITED



as
Vendor



-and-



IMAGE
SENSING SYSTEMS, INC.



as
Parent








SHARE
AND ASSET SALE AND PURCHASE AGREEMENT



in
relation to



SHARES
IN THE CAPITAL OF IMAGE SENSING SYSTEMS UK LIMITED



AND
CERTAIN ASSETS OF THE IMAGE SENSING SYSTEMS GROUP








(COVINGTON LOGO)













TABLE
OF CONTENTS





|1.  | Definitions and Interpretation        | 5                                         
|--- | ------------------------------------- | ------------------------------------------
|    | 1.1                                   | Definitions                               
|    | 1.2                                   | Interpretation                            
|2.  | Sale and Purchase of Target Shares    | 14                                        
|    | 2.1                                   | Sale and purchase of Target Shares        
|    | 2.2                                   | No partial sale                           
|    | 2.3                                   | Voting power pending registration         
|    | 2.4                                   | Stamp duty                                
|3.  | Sale and Purchase of LPR Assets       | 16                                        
|4.  | Price                                 |                                           
|    | 4.1                                   | Purchase price                            
|    | 4.2                                   | Attribution of Price                      
|    | 4.3                                   | Payment of Price                          
|5.  | Completion                            | 17                                        
|    | 5.1                                   | Completion meeting                        
|    | 5.2                                   | Completion obligations                    
|6.  | Escrow                                | 17                                        
|    | 6.1                                   | General right of recourse                 
|    | 6.2                                   | Liability for claims satisfied from Escrow
|    | 6.3                                   | Operation of Escrow                       
|    | 6.4                                   | Release of cash                           
|    | 6.5                                   | Failure to release Escrow Amounts when due
|    | 6.6                                   | Adjustment of Price                       
|    | 6.7                                   | Agreement prevails                        
|    | 6.8                                   | Remittance                                
|7.  | Completion Statement                  | 21                                        
|    | 7.1                                   | Price adjustment                          
|    | 7.2                                   | Preparation of Completion Statement       
|    | 7.3                                   | Payments due to Price adjustment          
|    | 7.4                                   | Accounting policies and practices         
|8.  | Parent and Vendor Assurances          | 25                                        
|    | 8.1                                   | Transfer of Target Shares                 
|    | 8.2                                   | Assurances at Completion                  
|    | 8.3                                   | Restrictive covenants                     
|9.  | Purchaser Warranties and Undertakings | 26                                        
|    | 9.1                                   | Purchaser warranties                      
|    | 9.2                                   | Access to Information                     
|10. | Parent Warranties                     | 28                                        
|    | 10.1                                  | Giving of Warranties                      
|    | 10.2                                  | Disclosure                                
|    | 10.3                                  | Limitations                               
|    | 10.4                                  | Parent’s knowledge and awareness          
|    | 10.5                                  | Warranties to be independent              





2







|    | 10.6                           | Indemnity basis of recovery                                        | 28
|--- | ------------------------------ | ------------------------------------------------------------------ | --
|    | 10.7                           | Adjustment of Price                                                | 29
|    | 10.8                           | Calculation of liability                                           | 29
|11. | Limitations on Liability       | 29                                                                
|    | 11.1                           | Application of limitations                                         | 29
|    | 11.2                           | Disapplication of limitations                                      | 29
|12. | Tax Indemnity                  | 29                                                                
|    | 12.1                           | Fundamental Tax Warranties                                         | 29
|13. | Existing Lease                 | 30                                                                
|    | 13.1                           | Existing Lease                                                     | 30
|    | 13.2                           | Transitional Period                                                | 30
|14. | Confidential Information       | 30                                                                
|    | 14.1                           | Non-disclosure of Confidential Information                         | 30
|    | 14.2                           | Exceptions                                                         | 30
|    | 14.3                           | Disclosure between members of the Receiving Group and/or Delegates | 31
|    | 14.4                           | Obligations survive termination                                    | 31
|    | 14.5                           | Injunctive relief                                                  | 31
|    | 14.6                           | Publicity                                                          | 32
|15. | Notices                        | 32                                                                
|    | 15.1                           | Method of service                                                  | 32
|    | 15.2                           | Deemed service                                                     | 33
|    | 15.3                           | Proof of service                                                   | 33
|    | 15.4                           | Receipt outside business hours                                     | 34
|    | 15.5                           | Change of address                                                  | 34
|    | 15.6                           | Service of proceedings                                             | 34
|16. | Miscellaneous                  | 34                                                                
|    | 16.1                           | Binding nature of this Agreement                                   | 34
|    | 16.2                           | Further assurance                                                  | 34
|    | 16.3                           | Costs and other payments                                           | 34
|    | 16.4                           | Assignment and other dealings                                      | 35
|    | 16.5                           | Entire agreement                                                   | 35
|    | 16.6                           | Variation                                                          | 35
|    | 16.7                           | Severance                                                          | 35
|    | 16.8                           | Counterparts                                                       | 36
|    | 16.9                           | Language of the Agreement                                          | 36
|    | 16.10                          | No agency, joint venture or partnership                            | 36
|    | 16.11                          | Discretion                                                         | 36
|    | 16.12                          | Waiver                                                             | 36
|    | 16.13                          | Liability                                                          | 37
|    | 16.14                          | Rights and remedies are cumulative                                 | 37
|    | 16.15                          | Obligations to remain in force notwithstanding Completion          | 37
|    | 16.16                          | Third party rights                                                 | 37
|17. | Governing Law and Jurisdiction | 37                                                                
|    | 17.1                           | English law                                                        | 37





3







|           |                                                   |   
|---------- | ------------------------------------------------- | --
|           | 17.2               Jurisdiction                   | 38
|           | 17.3               Process Agent                  | 38
|SCHEDULE 1 | 39                                               
|           | Target company information                        | 39
|SCHEDULE 2 | 40                                               
|           | Bank Accounts                                     | 40
|           | Part 1 - Vendor’s Lawyers’ Client Account         | 40
|SCHEDULE 3 | 41                                               
|           | Completion obligations                            | 41
|SCHEDULE 4 | 44                                               
|           | Warranties                                        | 44
|           | Part A - Fundamental Warranties                   | 44
|           | Part B - Business Warranties                      | 46
|           | Part C - Tax Warranties                           | 55
|SCHEDULE 5 | 58                                               
|           | Limitations                                       | 58
|SCHEDULE 6 | 63                                               
|           | Completion Statement                              | 63
|           | Part A - Pro-Forma Completion Statement           | 63
|           | Part B - Estimated Completion Statement           | 64
|           | Part C - Completion Statement accounting policies | 65
|SCHEDULE 7 | 66                                               
|           | 2013 Audited Accounts                             | 66
|Schedule8  | 67                                               
|           | Real Properties                                   | 67
|           | Part A - Owned Properties                         | 67
|           | Part B - Leased Properties                        | 67
|SCHEDULE 9 | 68                                               
|           | LPR Assets                                        | 68
|           | Part A - LPR Accounts Receivable                  | 68
|           | Part B - LPR Inventory                            | 69
|           | Part C - LPR IP                                   | 70
|           | Part D - Customer List and Non-Compete            | 75





4







THIS
AGREEMENT is made by way of Deed on 		            9 July            	 2015.



BETWEEN:



| | 1. | TAGMASTER
                                         AKTIEBOLAG, a public company incorporated in Swedenwith company number 556487-4534
                                         whose registered office is at Kronborgsgränd 11, 164 46 Kista, Sweden (the “Purchaser”);
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2. | IMAGE
                                         SENSING SYSTEMS EMEA LIMITED, a private company incorporated in England and Wales
                                         with company number 08740702 whose registered office is at Unit 4 Caxton Place, Caxton
                                         Way, Stevenage, Hertfordshire, United Kingdom SG1 2UG (as the “Vendor”);
                                         and
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3. | IMAGE
                                         SENSING SYSTEMS, INC., a corporation incorporated in Minnesota having its business
                                         address at 500 Spruce Tree Centre, 1600 University Ave. West, St. Paul, Minnesota 55104
                                         USA (as the “Parent”),
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



together
the “Parties” and each a “Party”.



WHEREAS:



| | A. | Image
                                         Sensing Systems UK Limited, a private company limited by shares incorporated in England
                                         and Wales with company number 03791347 (the “Target”), is a wholly
                                         owned subsidiary of the Vendor. Both the Vendor and the Target are subsidiaries of the
                                         Parent.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | B. | The
                                         Vendor has agreed to sell (and the Parent has agreed to procure the sale of), and the
                                         Purchaser has agreed to purchase, the entire issued share capital of the Target and certain
                                         other assets in each case on the terms and subject to the conditions set out in this
                                         Agreement.
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | C. | In
                                         parallel with Vendor’s sale of shares in the capital in the Target, the Parent
                                         has agreed to sell, and the Purchaser has agreed to purchase, certain assets owned by
                                         the Parent which primarily relate to the Vendor Group’s license plate recognition
                                         business (the “Business”) in each case on the terms set out in this
                                         Agreement.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | D. | As
                                         part of a reorganisation carried out by the Vendor Group prior to the date of this Agreement,
                                         the Target has transferred to the Vendor certain assets and liabilities which do not
                                         primarily relate to the Business (the “Reorganisation”).
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



IT
IS AGREED AS FOLLOWS:



| | 1. | Definitions
                                         and Interpretation
| | -- | -----------------------------------------------------------------------



| | 1.1 | Definitions
| | --- | -----------



| | 1.1.1 | In
                                         this Agreement, the following terms shall, unless the context otherwise requires, have
                                         the following meanings:
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|“Accounts”
                                                                                                                  means the abbreviated accounts comprising the audited balance sheet of the Target made up to the Accounts Date, including the
                                                                                                                  notes thereto and the auditors report
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





5







|thereon,
    and attached hereto as Schedule 7;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“Accounts
    Date” means 31 December 2013;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“Affiliate”
    means in respect of any undertaking, its subsidiary undertakings and parent undertakings and the subsidiary undertakings of
    each such parent undertaking, as well any other person at any time directly or indirectly controlling, controlled by, or under
    common control with, such undertaking; provided, however, that, for purposes of this definition, “control”
    (including, with correlative meanings, the terms “controlled by” and “under common control with”),
    as used with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the
    direction of the management and policies of such person, whether through the ownership of voting securities, by contract or
    otherwise;
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“Agreed
    Form” means, in relation to any document, the form of that document most recently approved by the Purchaser and
    the Parent and which has been initialled for the purpose of identification by the Purchaser’s Lawyers and Vendor’s
    Lawyers (or otherwise by or on behalf of the Purchaser and the Parent);                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“Agreement”
    means this agreement, together with all its recitals and Schedules;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“Associate”
    means, in respect of a person, any Affiliate of that person and any other person connected with that person;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“Authorisations”
    means any licence, consent, permit, approval, certificate, clearance or other authorisation or confirmation of compliance,
    whether public or private granted by any Authority or other person;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“Authority”
    means any governmental, administrative, supervisory, regulatory or determinative authority, agency, court or other organisation
    of any jurisdiction, in each case which is established by, or having the authority of, Law;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“Business”
    is defined in Recital C;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“Business
    Day” means any day other than a Saturday or Sunday or a day which is a public holiday in London, England or Stockholm,
    Sweden;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“CA
    2006” means the Companies Act 2006;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“CAA
    2001” means the Capital Allowances Act 2001;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“CitySync
    Intangibles” means the customer list and non-compete set out in Part D of Schedule 9                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“Completion”
    means completion of the sale and purchase of the Target Shares and the LPR Assets pursuant to this Agreement;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    





6







|“Completion
    Date” is defined in clause 5.1;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|“Completion
    Net Asset Value” means the net asset value shown in the Completion Statement;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|“Completion
    Statement” means the final completion statement as prepared and determined in accordance with clause 7;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|“Confidential
    Information” means information of a confidential nature (regardless of whether or not such information is recorded
    in any physical, electronic or other media and including all copies, extracts and derivations of confidential information)
    concerning the business, affairs, assets and/or interests of the Target and/or the Business, including technical data, know-how,
    designs, plans, specifications, methods, processes, controls, systems, trade secrets, recipes, formulae, research and development
    data, product complaint and testing information, lists of customers and suppliers, information relating to development, engineering,
    manufacturing, marketing, distribution, sale or purchase of goods and/or services, accounts, financial statements, financial
    forecasts, business plans, budgets, estimates, sales information, other financial information and any other information concerning
    the business, affairs, assets and/or interests of the Target and/or the Business which is marked as being confidential or
    would reasonably be expected to be kept confidential;
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|“Consequential
    Loss” means consequential, special, indirect, incidental or punitive damages or loss or any loss of profits or other
    form of economic loss, whether the claim in respect of such loss arises in contract, in tort or on any other basis;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|“CRTPA
    1999” means the Contracts (Rights of Third Party) Act 1999;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|“CTA
    2010” means the Corporation Tax Act 2010;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|“Defaulting
    Party” is defined in clause 6.5.1;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|“Delegates”
    means, in respect of any undertaking, the officers, employees, consultants, auditors, insurers, members, finance providers
    and professional advisers of such undertaking;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|“Disclosure
    Bundle” means the bundle of documents (in an Agreed Form) provided by the Parent to the Purchaser in connection
    with the making of certain disclosures against the Warranties;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|“Disclosure
    Letter” means the letter (in an Agreed Form) from the Parent to the Purchaser and dated the date of the Agreement
    and making certain disclosures against the Warranties, together with the Disclosure Bundle;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|“Dispute”
    means any dispute arising out of, relating to or in connection with, this Agreement, including any question relating to the
    existence, validity, interpretation or                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   





7







|termination of this Agreement or to any contractual or non-contractual obligation related
    to the Agreement and any dispute relating to the enforcement of the Agreement;                                                                                                                                                                                                                                                                                
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Disputed
    Matters” has the meaning given to it in clause 7.2.5;                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Draft
    Completion Statement” has the meaning given to it in clause 7.2.1;                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Encumbrance”
    includes any interest or equity of any person (including any right to acquire, option or right of pre-emption); any mortgage,
    charge, pledge, lien, assignment, hypothecation, security interest (including any created by Law), title retention or other
    security interest arising under any agreement or arrangement for rental, hire purchase, credit or conditional sale or other
    agreement for payment on deferred terms;
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Enlarged
    Group” means the Purchaser and its Affiliates (including, with effect from Completion, the Target (for so long as
    the Target remains an Affiliate of the Purchaser)) and “member of the Enlarged Group” means any one of
    them;                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Escrow”
    means the escrow arrangements the subject of the Escrow Agreement and clause 6;                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Escrow
    Account” means the escrow account to be established and maintained in accordance with clause 6 and the Escrow Agreement;                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Escrow
    Agent” means the Purchaser’s UK Lawyers and the Vendor’s Lawyers, in their capacity as joint escrow
    agents under the terms of the Escrow Agreement;                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Escrow
    Agreement” means the agreement (in an Agreed Form) between the Parent, the Purchaser, the Purchaser’s UK Lawyers
    and the Vendor’s Lawyers and concerning, amongst other matters, the operation of the Escrow Account;                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Escrow
    Amount” means the remaining balance of the principal amount of cash held in Escrow (being initially that amount
    paid into the Vendor’s Lawyers’ Client Account (pending the opening of the Escrow Account) pursuant to clause
    4.3(b)) (excluding accrued Income (if any) thereon);                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Escrow
    Period” means the period commencing on the Completion Date and ending on (and including) the date 12 months thereafter;                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Escrow
    Release Objection Notice” is defined in clause 6.5.1(d);                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Estimated
    Completion Statement” means the estimated completion statement set out in Part 2 of Schedule 6;                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|“Estimated
    Net Asset Value” means the net asset value shown in the Estimated Completion Statement;                                                                                                                                                                                                                                                                                                                                                      





8







|“Existing
    Lease” has the meaning given in clause 13.1;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“Foreign
    Party” is defined in clause 17.3.1;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“Fundamental
    Tax Warranties” means the Tax Warranties set out at paragraphs 1.1.1 to 1.1.5 (inclusive) in Part C of Schedule
    4;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“Fundamental
    Warranties” means those Warranties set out in Part A of Schedule 4;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“Group”
    means, in respect of any undertaking, such undertaking together with its Affiliates;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“Hardware”
    means the computer and data processing systems used by the Target in the Business excluding the Software;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“HMRC”
    means HM Revenue & Customs;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“ITEPA
    2003” means the Income Tax (Earnings and Pensions) Act 2003;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“Income”
    is defined in clause 6.3.1(b);                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“Independent
    Accountants” shall have the meaning given to it in clause 7.2.5;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“Intellectual
    Property Right” includes all patents, trademarks, service marks, domain names, rights (registered or unregistered)
    in any designs; applications for any of the foregoing; proprietary trade or business names, copyright (including rights in
    computer software), rights in databases, rights in inventions, proprietary know-how, rights in and rights to protect the use
    and/or disclosure of information, and all proprietary rights and forms of protection of a similar nature to any of the foregoing
    (including all applications, registrations, renewals and extensions in respect thereof) and all other forms of intellectual
    property rights, in each case in any jurisdiction;
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“Internationally
    Recognised Stock Exchange” means any market in securities operated by an investment exchange which is a ‘Recognised
    Investment Exchange’, ‘Recognised Overseas Investment Exchange’ or ‘Designated Investment Exchange’
    (in each case as so designated by the UK Financial Conduct Authority from time to time);                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“IPR
    Agreements” means the written agreements listed in the Disclosure Letter pursuant to which the Target grants rights
    to third parties to use Intellectual Property Rights of which it is the owner or pursuant to which the Target is granted rights
    to use Intellectual Property Rights owned by a third party;                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“IT
    Systems” means the Hardware and the Software;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|“Law”
includes all civil codes, statutes, regulations, rules of common law, judgments, decrees or orders of any Authority and other
measures or decisions having the force of law                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               





9









|in any jurisdiction from time to time, whether before or after the date of this
    Agreement;                                                                                                                                                                                       
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                     
|“Leased
    Premises” means the real properties leased by the Target, as detailed in Part B of Schedule 8;                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                     
|“Losses”
    means actions, proceedings, losses, damages, liabilities, claims, costs and expenses, including fines, penalties, legal and
    other professional fees and expenses and whether pursuant to a claim for contribution or under statute, contract, tort or
    otherwise;
|                                                                                                                                                                                                                                                                                     
|“LPR”
    means license plate recognition;                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                     
|“LPR
    Accounts Receivable” means the accounts receivable listed in Part A of Schedule 9;                                                                                                                                                                                          
|                                                                                                                                                                                                                                                                                     
|“LPR
    Assets” means the LPR IP, the LPR Accounts Receivable and the LPR Inventory;                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                     
|“LPR
    Inventory” means the inventory listed in Part B of Schedule 9;                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                     
|“LPR
    IP” means the Intellectual Property Rights listed in Part C of Schedule 9;                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                     
|“Management
    Accounts” means the unaudited management accounts of the Target as at 31 March 2015;.                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                     
|“Material
    Contracts” means the Material Customer Contracts and the Material Supplier Contracts;                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                     
|“Material
    Customer” means the customers identified as Material Customers in the Disclosure Letter;                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                     
|“Material
    Customer Contracts” means the agreements entered into with the Material Customers.                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                     
|“Material
    Supplier” means the suppliers identified as Material Suppliers in the Disclosure Letter;.                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                     
|“Material
    Supplier Contracts” means the agreements entered into with the Material Suppliers                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                     
|“Net
    Asset Shortfall” means the amount (if any) by which the Completion Net Asset Value is less than the Estimated Net
    Asset Value, as shown in the Completion Statement;                                                                                                    
|                                                                                                                                                                                                                                                                                     
|“Non-defaulting
    Party” is defined in clause 6.5.1;                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                     
|“Objection
    Notice” has the meaning given to it in clause 7.2.1;                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                     
|“Owned
    Premises” means the real properties owned by the Target, as detailed in Part A of                                                                                                                                                                                         





10







|Schedule 8;                                                                                                                                                                                                                                                            
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                       
|“Permitted
    Purpose” means the bona fide implementation, pursuance and enforcement of this Agreement and other Transaction Documents
    and the undertaking of such other ancillary matters which are reasonably or necessarily undertaken in connection therewith;
|                                                                                                                                                                                                                                                                       
|“Premises”
    means the Owned Premises and the Leased Premises;                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                       
|“Price”
    is defined in clause 4.1.1;                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                       
|“Proceedings”
    is defined in clause 17.2;                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                       
|“Process
    Agent” is defined in clause 17.3.1;                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                       
|“Pro-Forma
    Completion Statement” means the form of completion statement set out in Part 1 of Schedule 6;                                                                                                                                                           
|                                                                                                                                                                                                                                                                       
|“Purchaser
    Group Documents” is defined in clause 9.1.1(a);                                                                                                                                                                                                         
|                                                                                                                                                                                                                                                                       
|“Purchaser’s
    Lawyers” means Advokatfirman Lindahl of Mäster Samuelsgatan 20, 111 44 Stockholm, Sweden;                                                                                                                                                             
|                                                                                                                                                                                                                                                                       
|“Purchaser’s
    UK Lawyers” means CMS Cameron McKenna LLP of Cannon Place, 78 Cannon Street, London EC4N 6AF;                                                                                                                                                         
|                                                                                                                                                                                                                                                                       
|“Receiving
    Group” is defined in clause 14.1;                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                       
|“Receiving
    Party” is defined in clause 14.1;                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                       
|“Relevant
        Securities” means, in respect of any undertaking:                                                                                                                                                                                                    







| | (a) | any share, security or other interest in the capital of such undertaking from time to time; and                                                                                                                                          
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                          
| | (b) | any other security, option, warrant, agreement or instrument
which confers any right to subscribe, exchange for, convert into or otherwise acquire any issue of any share, security or other
interest in the capital of such undertaking;





|“Relief”
    means any loss, relief, allowance, exemption, set-off, right to repayment or credit (together with any related interest) in
    respect of any Tax or any deduction in computing income, profits or gains for the purposes of any Tax;                                                                                                                                                                                               
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|“Restricted
Business” means the business as conducted by the Target as at Completion being the development and manufacture of LPR
(also known as automatic number plate recognition) software and hardware, including the supply of LPR cameras, processor units,
other hardware components and complete LPR systems, and any business which competes (or which is intended to, or reasonably likely
to, compete) with such business of the Target





11







|and
including (without limitation) the development and sale of automatic number plate recognition hardware and software;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“Restricted
    Period” means the period of 18 months as from the date of Completion;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“Software”
    means all computer software used by the Target in the Business at the date of this Agreement (excluding any “off-the-shelf”
    and “shrink wrap” software);                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“Target”
    has the meaning given to it in Recital A;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“Target
    Shares” means the shares in the capital of the Target;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“Tax”
    means all forms of taxation, duties, levies, imposts, contributions, withholdings or amounts in the nature thereof whether
    of the United Kingdom or any other jurisdiction collected or assessed by, or payable to, any relevant Taxation Authority (irrespective
    of the person to which any such taxation, duties, levies, imposts, contributions, withholdings or amounts are directly or
    primarily chargeable) and all penalties, fines, charges and interest incidental or relating to any of the foregoing or resulting
    from a failure to comply with the provisions of any Law relating to taxation (and “Taxation” shall be construed
    accordingly);
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“Taxation
    Authority” means any government, state or municipality or any local, state, federal or other fiscal, revenue, customs
    or excise authority, body or official competent to impose, administer, levy, assess or collect Tax in the United Kingdom or
    elsewhere;                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“Tax
    Claim” means a claim for breach of any of the Tax Warranties;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“Tax
    Warranties” means the Warranties set out in Part C of Schedule 4;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“TCGA
    1992” means the Taxation of Chargeable Gains Act 1992;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“TIOPA
    2010” means the Taxation (International and Other Provisions) Act 2010;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“Transaction
    Documents” is defined in clause 16.5.1;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“US
    GAAP” means the generally accepted accounting principles of the United States of America as in effect on the Completion
    Date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“VAT”
    means value added tax or any other sales tax that is levied on the supply of goods or services in any jurisdiction;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“VATA
    1994” means the Value Added Tax Act 1994;                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|“Vendor
    Group” means the Parent together with its subsidiary undertakings as at the date of (but prior to) Completion (and
    “Vendor Group Company” shall mean any member of the Vendor Group);                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   





12







|“Vendor
    Group Documents” is defined in Part A of Schedule 4;                                                                                  
|--------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                  
|“Vendor’s
    Lawyers” means Covington & Burling LLP of 265 Strand, London, United Kingdom WC2R 1BH;                                              
|                                                                                                                                                  
|“Vendor’s
    Lawyers’ Client Account” means the client account of the Vendor’s Lawyers, details of which are set
    out in Part 1 of Schedule 6;
|                                                                                                                                                  
|“Warranties”
    means the warranties set out in Schedule 4, at clause 10.1, and at clause 12.1;                                                  
|                                                                                                                                                  
|“Warranty
    Claim” means a claim for breach of any of the Warranties as given at clause 10.1 and at clause 12.1;                                
|                                                                                                                                                  

| | 1.2 | Interpretation
| | --- | --------------



| | 1.2.1 | Unless
                                         the context otherwise requires, the following rules of interpretation shall apply to
                                         this Agreement:
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | words
                                         and phrases, the definitions of which are contained or referred to in the Companies Act
                                         2006, shall have the meanings respectively attributed to them by it;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | words
                                         in the singular include the plural and in the plural include the singular;
| | --- | -------------------------------------------------------------------------------------------------------------------------



| | (c) | use
                                         of any gender or neuter includes the other genders and neuter;
| | --- | -----------------------------------------------------------------------------------------------------------



| | (d) | references
                                         to a particular statute or statutory provision or other Law shall:
| | --- | ----------------------------------------------------------------------------------------------------------------------



| | (i) | include
                                         all subordinate legislation made from time to time under that statute, statutory provision
                                         or other Law; and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | be
                                         construed as a reference to such Law as amended, re-enacted, consolidated, supplemented,
                                         replaced or renumbered (or as its application or interpretation is changed or affected
                                         by other Laws) from time to time and as was, is, or will be (as the case may be) applicable
                                         at the time in question except that as between the Parties, no such amendment or modification
                                         shall apply for the purposes of this Agreement to the extent that it would impose any
                                         new or extended liability, obligation or restriction on, or otherwise adversely affect
                                         the rights of, any Party;
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (e) | references
                                         to “this Agreement” or any other agreement, deed or instrument is
                                         a reference to this Agreement or, as the case may be, the relevant agreement, deed or
                                         instrument as amended, supplemented, replaced or novated from time to time;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (f) | references
                                         to “clauses” and “Schedules” are to clauses of,
                                         and schedules to, this Agreement;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (g) | references
                                         to a “paragraph” or a “Part” are to a paragraph
                                         or part of the Schedule in which such reference appears;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





13







| | (h) | the
                                         expression “connected” with reference to a person or group of persons
                                         has the meaning given to it in sections 1122 and 1123 of the Corporation Tax Act 2010
                                         (subject to the deletion of section 1122(8));
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (i) | references
                                         to a “day” shall mean a period of 24 hours running from midnight to
                                         midnight and reference to any time or date shall, save where otherwise expressly stated
                                         to the contrary, be a reference to the time or date (as the case may be) in London, England;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (j) | references
                                         to a “person” shall be construed so as to include:
| | --- | ------------------------------------------------------------------------------------------------------



| | (i) | any
                                         individual, firm, body corporate, Authority, joint venture, association, undertaking,
                                         partnership or limited partnership (whether or not having separate legal personality);
                                         and
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | a
                                         reference to the estate, successors, permitted transferees and permitted assignees of
                                         any of such person;
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (k) | the
                                         words “include”, “including” or “in particular”
                                         shall not limit the generality of any preceding words or be construed as being limited
                                         to the same class as any preceding words where a wider construction is possible;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (l) | references
                                         to “written” or “writing” shall include all data
                                         in written form whether represented in hand-written, facsimile, printed, electronic or
                                         other format (including e-mail);
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (m) | references
                                         to any English legal term for any action, remedy, method of judicial proceedings, legal
                                         document, legal status, court, official or any legal concept or thing shall in respect
                                         of any jurisdiction (other than England) shall be treated as a reference to any analogous
                                         term in that jurisdiction;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (n) | references
                                         to the “ordinary course of business” of the Target refers to the course
                                         of conduct of the business of the Target, having regard to its nature, size and scale,
                                         customary practices and policies and manner of operations, as current at the date of
                                         this Agreement; and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.2.2 | The
                                         Table of Contents, headings and titles are for convenience only and do not affect the
                                         interpretation of this Agreement.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.2.3 | The
                                         Schedules form part of this Agreement and shall have the same force and effect as if
                                         expressly set out in the body of this Agreement, and any reference to this Agreement
                                         shall include the Schedules.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.2.4 | If
                                         any provisions of the Schedules at any time conflict with any of the other provisions
                                         of this Agreement (not contained in the Schedules), the provisions of this Agreement
                                         (not contained in the Schedules) shall prevail.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2. | Sale
                                         and Purchase ofTargetShares
| | -- | -------------------------------------------------------------------------



| | 2.1 | Sale
                                         and purchase of Target Shares
| | --- | ---------------------------------------------------------------------------



At
Completion, the Vendor shall sell and the Parent shall procure that the Vendor shall sell, fully paid up and free from all Encumbrances
and together with all rights now and in the



14









| |     | future attaching to them, all of the entire legal and beneficial interest
                        in the Target Shares (including the right to receive dividends or distributions declared, paid or made
                        on or after Completion), which comprise the entire issued share capital of the Target, and the Purchaser
                        shall purchase all such Target Shares.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                                                                         
| | 2.2 | No
                                         partial sale                                                                                                                                                                                                                                                                                                                                                



The
Purchaser shall have no obligation to complete the sale and purchase of the Target Shares pursuant to clause 2.1 unless the sale
and purchase of all the Target Shares is completed simultaneously.



| | 2.3 | Voting
                                         power pending registration
| | --- | --------------------------------------------------------------------------



| | 2.3.1 | With
                                         effect from Completion:
| | ----- | ---------------------------------------------------------------------



| | (a) | the
                                         Vendor irrevocably and unconditionally appoints the Purchaser as its lawful agent and
                                         attorney to exercise all rights which the Vendor may have in its capacity as registered
                                         holder of Target Shares including (but not limited to) any right to:
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (i) | receive
                                         notice of, attend and vote at, any meeting of the shareholders of the Target (or any
                                         class thereof) or at any adjourned meeting of the shareholders of the Target (or any
                                         class thereof);
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | nominate
                                         any proxy to attend and vote at any meeting of the shareholders of the Target (or any
                                         class thereof);
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (iii) | consent
                                         to any meeting of the shareholders of the Target (or any class thereof) being held on
                                         short notice;
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (iv) | consent
                                         to any variation of any rights attaching to any class of Target Share;
| | ---- | -----------------------------------------------------------------------------------------------------------------------



| | (v) | approve
                                         any resolution of the shareholders of the Target (or any class thereof) proposed by way
                                         of written resolution;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (vi) | deal
                                         with, and give directions in respect of, any dividends, moneys, securities, benefits,
                                         notices or communications (in whatever form) in respect of the Target Shares,
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



in
each case as the Purchaser in its absolute discretion sees fit;



| | (b) | the
                                         Vendor undertakes:
| | --- | ---------------------------------------------------------------



| | (i) | not
                                         to exercise any rights attaching to the Target Shares other than on the express written
                                         instruction of the Purchaser;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | to
                                         hold on trust for the Purchaser and to promptly notify the Purchaser of anything received
                                         by it after Completion in its capacity as holder of any Target Shares, and to act promptly
                                         in accordance with the Purchaser’s instructions in relation to any such thing;
                                         and
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (iii) | to
                                         ratify whatever the Purchaser lawfully does or causes to be done under the authority
                                         or purported authority of the power of attorney conferred by clause 2.3.1(a); and
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





15







| | (c) | the
                                         Purchaser shall:
| | --- | -------------------------------------------------------------



| | (i) | indemnify
                                         and hold the Vendor harmless against any act undertaken or thing done by the Purchaser
                                         pursuant to the authority or purported authority of the power of attorney conferred by
                                         the Vendor pursuant to clause 2.3.1(a); and
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | use
                                         its best endeavours to procure that it (or its nominee) is registered in the register
                                         of members of the Target as the legal holder of the Target Shares within 3 months of
                                         Completion.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.3.2 | The
                                         powers of attorney conferred by clause 2.3.1(a) are given to secure the proprietary interests
                                         of the Purchaser in the Target Shares with effect from Completion and is irrevocable
                                         unless revoked with the prior written consent of the Purchaser. Such power of attorney
                                         shall terminate (without prejudice to anything done by the Purchaser before termination)
                                         on the date on which the Purchaser (or its nominee) is entered in the register of members
                                         of the Target as the legal holder of the Target Shares.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.3.3 | The
                                         Vendor may delegate one or more of the powers conferred on it by clause 2.3.1(a) to an
                                         officer or officers appointed for that purpose by its board of directors by resolution
                                         or otherwise.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.4 | Stamp
                                         duty
| | --- | ---------------------------------------------------



The
Purchaser shall be responsible for the payment of all stamp duty (and, if applicable, stamp duty reserve tax) on this Agreement
and the transfers in respect of the Target Shares to be delivered to the Purchaser at Completion.



| | 3. | Sale
                                         and Purchase ofLPR Assets
| | -- | -----------------------------------------------------------------------



Subject
to the terms of this Agreement, the Parent shall sell (with full title guarantee and free from all Encumbrances) and the Purchaser
shall Purchase the LPR Assets, as at and with effect from Completion.



| | 4. | Price
| | -- | -----



| | 4.1 | Purchase
                                         price
| | --- | -------------------------------------------------------



| | 4.1.1 | Subject
                                         to adjustment in accordance with clause 7, the aggregate price (the “Price”)
                                         payable by the Purchaser for the Target Shares, the LPR Assets, and the CitySync Intangibles
                                         shall be the sum of $4,200,000, which shall be attributed between the Target Shares,
                                         the LPR Assets, and the CitySync Intangibles as set out in clause 4.2.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.1.2 | The
                                         Price shall be payable by the Purchaser to the Parent, on behalf of it and the Vendor,
                                         in cash on Completion in accordance with clause 4.3;
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.2 | Attribution
                                         of Price
| | --- | -------------------------------------------------------------



The
Price shall be attributed between the Target Shares, the LPR Assets, and the CitySync Intangibles as follows:



| | (a) | $376,143.88
                                         shall be payable by the Purchaserin respect of the Target Shares;
| | --- | ----------------------------------------------------------------------------------------------------------------------





16







| | (b) | $475,649.12
                                         shall be payable by the Purchaser in respect of the LPR Accounts Receivable;
| | --- | ---------------------------------------------------------------------------------------------------------------------------------



| | (c) | $1.00
                                         shall be payable by the Purchaser in respect of the LPR Inventory and related reserves;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------



| | (d) | $2,795,000.00
                                         shall be payable by the Purchaser in respect of the LPR IP; and
| | --- | ----------------------------------------------------------------------------------------------------------------------



| | (e) | $553,206.00
                                         shall be payable by the Purchaser in respect of the CitySync Intangibles,
| | --- | ------------------------------------------------------------------------------------------------------------------------------



provided
that, in connection with the finalisation of the Completion Statement in accordance with clause 7, a different attribution of
the Price may be agreed between the Parties in writing.



| | 4.3 | Payment
                                         of Price
| | --- | ---------------------------------------------------------



On
Completion the Purchaser shall:



| | (a) | pay
                                         $3,580,000 to the Vendor’s Lawyers’ Client Account for the benefit of the
                                         Parent;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | pay
                                         $420,000 to the Vendor’s Lawyers’ Client Account on behalf of the Parent
                                         (which amount shall be held by the Vendor’s Lawyers in accordance with clause 6
                                         pending the opening of the Escrow Account, and shall be transferred by the Vendor’s
                                         Lawyers to the Escrow Account once opened); and
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | pay
                                         $200,000 to the Vendor’s Lawyers’ Client Account on behalf of the Parent
                                         for retention in accordance with clause 7.3.2.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 5. | Completion
| | -- | ----------



| | 5.1 | Completion
                                         meeting
| | --- | -----------------------------------------------------------



Completion
shall occur at the offices of the Purchaser’s Lawyers on the date of this Agreement (the “Completion Date”).



| | 5.2 | Completion
                                         obligations
| | --- | ---------------------------------------------------------------



The
provisions of Schedule 3 shall apply.



| | 6. | Escrow
| | -- | ------



| | 6.1 | General
                                         right of recourse
| | --- | ------------------------------------------------------------------



| | 6.1.1 | Without
                                         prejudice to any remedy available to the Purchaser, the Escrow Amount shall, if so required
                                         by the Purchaser, be made available to satisfy any claim(s) by the Purchaser against
                                         the Parent and, where applicable, the Vendor under, or in respect of any breach of, this
                                         Agreement.
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 6.1.2 | Save
                                         in respect of a claim for a breach of any Fundamental Warranty, the liability of the
                                         Parent and, where applicable, the Vendor under this Agreement in respect of:
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





17







| | (a) | any
                                         Warranty Claim; or
| | --- | ---------------------------------------------------------------



| | (b) | any
                                         other claim under this Agreement (other than claims under clause 7 for any payment as
                                         a result of a Net Asset Shortfall, which shall be satisfied and limited in accordance
                                         with clause 7.3)
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



shall
be satisfied from, and limited to, the Escrow Amount and the sole remedy of the Purchaser under this Agreement in respect of each
such claim shall be to the release of Escrow Amounts (if any) to the Purchaser from the Escrow.



| | 6.2 | Liability
                                         for claims satisfied from Escrow
| | --- | -----------------------------------------------------------------------------------



| | 6.2.1 | The
                                         Vendor and the Parent shall have no liability to each other in respect of any liability
                                         satisfied from the Escrow Amount.
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 6.2.2 | Clause
                                         6.2.1, shall not apply so as to limit the liability of the Parent (or, where applicable,
                                         the Vendor) in respect of any fraud by it (or any of its Associates) or any remedy available
                                         to any other Party against it (or any of its Associates) in respect thereof.
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 6.3 | Operation
                                         of Escrow
| | --- | ------------------------------------------------------------



| | 6.3.1 | The
                                         Escrow Amount shall be held in the Escrow on the terms of the Escrow Agreement and the
                                         following terms:
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | any
                                         bank fees or other charges arising in respect of the Escrow shall be paid by the Purchaser
                                         and the Parent, who will each pay one half of such bank fees and charges;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | any
                                         interest or profit generated on the Escrow Amount (the “Income”) shall
                                         be held in Escrow with the principal Escrow Amount on which such Income accrued and,
                                         on release of such principal Escrow Amount, such Income shall also be released to the
                                         Party or Parties entitled to such principal Escrow Amount;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | subject
                                         to clauses 6.3.1(d) and 6.3.3, at the end of the Escrow Period the Purchaser and the
                                         Parent shall issue joint written instructions to the Escrow Agent to release the remaining
                                         balance of the principal Escrow Amount (together with accrued Income thereon) to the
                                         Parent;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | to
                                         the extent that, prior to the expiry of the Escrow Period, the Purchaser has notified
                                         the Parent of any claim in respect of which it may be entitled to be satisfied from the
                                         Escrow Amount and (whether before or after the end of the Escrow Period) the amount of
                                         any such claim has:
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (i) | been
                                         agreed in writing between the Parent and the Purchaser (such agreement not to be unreasonably
                                         withheld or delayed following any oral agreement between them); or
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | been
                                         judicially determined by court of competent jurisdiction (from which no appeal is available
                                         (or has ceased to be available without any such appeal having been made)).
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





18







then
the Purchaser and the Parent shall promptly upon such agreement or determination (and in any event within 14 days thereof) issue
joint written instructions to the Escrow Agent to release to the Purchaser:



| | (i) | such
                                         part of the principal Escrow Amount as is equal to the amount of such claim as so agreed
                                         or determined (or, if less, the whole of the remaining principal Escrow Amount); and
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | all
                                         Income which has accrued on such principal Escrow Amount;
| | ---- | ------------------------------------------------------------------------------------------------------



| | 6.3.2 | to
                                         the extent that the liability for, or the quantum of, any claim notified by the Purchaser
                                         to the Parent prior to the expiry of the Escrow Period, and in respect of which claim
                                         the Purchaser may be entitled to be satisfied from the Escrow Amount, shall not have
                                         been agreed or determined (in a manner described in any of sub-clauses 6.3.1(d)(i) to
                                         6.3.1(d)(ii) before the expiry of the Escrow Period, then:
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (i) | such
                                         principal Escrow Amount as is reasonably sufficient to satisfy all such claims in full
                                         (together with accrued Income on such principal Escrow Amount) (or such other amount
                                         as the Purchaser and the Parent may agree in writing) shall continue to be retained in
                                         the Escrow after expiry of the Escrow Period pending agreement or determination ((in
                                         a manner described in any of sub-clauses 6.3.1(d)(i) to 6.3.1(d)(ii)) of such claim;
                                         and
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | the
                                         balance of the Escrow Amount (and accrued Income thereon) (less all retained amounts
                                         determined in accordance with (i) above) shall be released in accordance with 6.3.1(c).
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Promptly
thereafter upon the agreement or determination (and in any event within 21 days thereof) of such a notified claim, the Parent
and the Purchaser shall issue joint instructions to the Escrow Agent to release to the Purchaser:



| | (i) | such
                                         part the retained principal Escrow Amount as is equal to the amount of such claim as
                                         so agreed or determined (or, if less, the whole of the retained principal Escrow Amount);
                                         and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | all
                                         Income which has accrued on such retained principal Escrow Amount.
| | ---- | ---------------------------------------------------------------------------------------------------------------



After
expiry of the Escrow Period, once all such claims notified prior to the expiry of the Escrow Period have been so agreed or determined,
the Parent and the Purchaser shall promptly issue joint instructions to the Escrow Agent to release the remaining balance of the
principal Escrow Amount (together with accrued Income thereon) to the Parent.



| | 6.3.3 | For
                                         the purposes of clauses 6.3.1(d), if and to the extent that:
| | ----- | ---------------------------------------------------------------------------------------------------------



| | (a) | the
                                         Purchaser gives unconditional and irrevocable written notice to the Parent that a claim
                                         (or part thereof) is withdrawn; or
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | if
                                         legal proceedings commenced by the Purchaser in respect of a claim (or part thereof)
                                         are unconditionally and finally withdrawn or struck-out (without possibility of re-instatement);
                                         or
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





19







| | (c) | the
                                         Purchaser has no right to commence legal proceedings in respect of a claim (or part thereof),
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------



then
such claim (or, as the case may be, the relevant part thereof) shall be deemed to have been determined with no release of any
Escrow Amount (or Income) due to the Purchaser in respect thereof.



| | 6.4 | Release
                                         of cash
| | --- | --------------------------------------------------------



| | 6.4.1 | The
                                         principal value of the cash held in Escrow (ignoring any Income thereon) shall be used
                                         for the purpose of determining the Escrow Amount to be released in satisfaction of any
                                         claim.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 6.4.2 | All
                                         principal Escrow Amounts released from the Escrow to the Purchaser shall be paid in cash
                                         in USD.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 6.4.3 | In
                                         the event that any principal Escrow Amount is due to be released to the Parent, any Income
                                         accrued on the principal Escrow Amount so released to the Parent shall also be released
                                         to the Parent.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 6.5 | Failure
                                         to release Escrow Amounts when due
| | --- | -----------------------------------------------------------------------------------



| | 6.5.1 | If
                                         the Parent or Purchaser breaches its obligation to so issue a joint written instruction
                                         to the Escrow Agent in accordance with clauses 6.3.1(c), 6.3.1(d), or 6.5.2 (as the case
                                         may be) (such Party in default being a “Defaulting Party”), then the
                                         non-defaulting Party (being the Purchaser or Parent, as the case may be, the “Non-defaulting
                                         Party”) may solely issue such instruction to the Escrow Agent provided that:
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | the
                                         Non-defaulting Party shall indemnify and keep fully indemnified the Defaulting Party
                                         from and against all Losses which may be suffered or incurred and which arise directly
                                         or indirectly out of, or in connection with, any Escrow Amount and Income released by
                                         the Escrow Agent in compliance with such sole instruction of the Non-defaulting Party
                                         to the extent it is subsequently agreed or determined (in a manner described in any of
                                         sub-clauses 6.3.1(d)(i) to 6.3.1(d)(ii)) that such Non-defaulting Party was not entitled
                                         to the Escrow Amount and Income so released on such sole instruction of the Non-defaulting
                                         Party;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | the
                                         Non-defaulting Party shall procure that a copy of such sole instruction is also then
                                         notified to the Defaulting Party;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | the
                                         sole instruction of the Non-defaulting Party shall instruct the Escrow Agent to postpone
                                         the release of the relevant Escrow Amounts for a period of 14 days from the date of such
                                         sole instruction; and
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | the
                                         Defaulting Party shall have a right to object to such sole instruction by written notice
                                         served during such 14 day period on the Escrow Agent and the Non-defaulting Party (an
                                         “Escrow Release Objection Notice”) which notice shall state (on reasonable
                                         grounds) why the Defaulting Party does not agree that instruction is required to be given
                                         to the Escrow Agent in accordance with this Agreement. In the event that an Escrow Release
                                         Objection Notice is so served, the sole instruction of the Non-defaulting Party shall
                                         be deemed withdrawn pending agreement or further determination (in a manner described
                                         in any of sub-clauses
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





20







| |  | 6.3.1(d)(i) to 6.3.1(d)(ii)) of the matter in dispute between the
                                         Defaulting Party and the Non-defaulting Party as stated in the Escrow Release Objection
                                         Notice.
| |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 6.6 | Adjustment
                                         of Price
| | --- | ------------------------------------------------------------



Any
sum payable to the Purchaser from the Escrow Amount shall be treated as a reduction in the Price by an equal amount.



| | 6.7 | Agreement
                                         prevails
| | --- | -----------------------------------------------------------



In
the event of any inconsistency between the provisions of this Agreement and the Escrow Agreement, the provisions of this Agreement
shall prevail as between the Parties.



| | 6.8 | Remittance
| | --- | ----------



From
and after the Closing, if the Seller or its Affiliates receives or collects any funds relating to any LPR Assets, the Seller or
its Affiliate shall remit such funds to the Purchaser within five Business Days after its receipt thereof. From and after the
Closing, if the Purchaser or its Affiliates receives or collects any funds relating to an asset transferred in the Reorganisation,
the Purchaser or its Affiliate shall remit any such funds to the Seller within five Business Days after its receipt thereof.



| | 7. | Completion
                                         Statement
| | -- | -------------------------------------------------------------



| | 7.1 | Price
                                         adjustment
| | --- | ---------------------------------------------------------



| | 7.1.1 | Without
                                         prejudice to any other adjustments to the Price which may be required pursuant to this
                                         Agreement, the Price as stated in clause 4.1 shall, subject to the further provisions
                                         of this clause 7, be reduced by an amount equal to the Net Asset Shortfall (if any);
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



provided
that no adjustment shall be so made to the Price where the net reduction as so determined would be equal to or less than $25,000
(but if in excess of $25,000 then the whole of such adjustment shall be made, not merely the excess). Payments in consequence
of any adjustment in Price pursuant to this clause 7.1.1 shall be paid and limited in accordance with clause 7.3.



| | 7.1.2 | References
                                         to the Price or the final Price in this clause 7 shall be to the Price before any further
                                         adjustments which may be required pursuant to the further provisions of this Agreement
                                         (other than this clause 7).
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.1.3 | For
                                         the avoidance of doubt, any adjustment of the Price pursuant to this clause 7 shall be
                                         deemed to adjust only the portion of the Price payable by the Purchaser in respect of
                                         the Target Shares pursuant to clause 4.2(a), and not any portion of the Price payable
                                         by the Purchaser in respect of any of the LPR Assets.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.2 | Preparation
                                         of Completion Statement
| | --- | ----------------------------------------------------------------------------



| | 7.2.1 | The
                                         Purchaser shall prepare and submit to the Parent, not later than 60 days after Completion,
                                         a draft financial statement (the “Draft Completion Statement”) showing
                                         the Purchaser’s calculation of the Price by reference to the financial position
                                         of the Target as at the close of business on the Completion Date and stating the proposed
                                         Net Asset Shortfall
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





21







| |  | (if any). Such statement shall be prepared on the basis of, and in
                                         accordance with, the requirements, accounting policies and accounting practices specified
                                         in clause 7.4 and presented in substantially the same form, and shall include each of
                                         the same line-items, as set out in the Pro Forma Completion Statement.
| |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.2.2 | Within
                                         30 days starting on the day after the Parent receives the Purchaser’s Draft Completion
                                         Statement, the Parent shall notify the Purchaser whether the Parent agrees with the Draft
                                         Completion Statement and, if the Parent does not agree with it, such notification (an
                                         “Objection Notice”) shall include a schedule setting forth those amounts
                                         or items with which the Parent disagrees and, to the extent reasonably possible, the
                                         quantum of the disagreement together with the reasons why the Parent disagrees with such
                                         amounts and any initial proposed adjustments to the Draft Completion Statement.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.2.3 | In
                                         order to enable the Parent to review the Draft Completion Statement, the Purchaser shall
                                         procure that there is made available to the Parent (at the offices of the Target), the
                                         following documents and information in so far as the same is in the possession or control
                                         of the Enlarged Group and reasonably required in connection with such review of the Draft
                                         Completion Statement:
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | books
                                         of account and records relating to the Target;
| | --- | ---------------------------------------------------------------------------------------------



| | (b) | formal
                                         working papers (if any) relating to the preparation of the Draft Completion Statement;
                                         and
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | such
                                         further information as may be reasonably requested by the Parent.
| | --- | ---------------------------------------------------------------------------------------------------------------



| | 7.2.4 | If
                                         the Parent shall notify the Purchaser of its agreement to the Draft Completion Statement
                                         or shall take no action either to notify such agreement or to serve an Objection Notice
                                         within the period of 30 days referred to in clause 7.2.2 or, following the service of
                                         an Objection Notice, the Parent and the Purchaser shall agree in writing on the Draft
                                         Completion Statement (with or without amendment), then the same shall become binding
                                         upon the Parties in its original (or, if so agreed in writing by the Parent and the Purchaser,
                                         its amended) form and shall then constitute the final Completion Statement for the purposes
                                         of this Agreement and the Price shall be adjusted (if applicable) in accordance with
                                         clause 7.1.1.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.2.5 | If
the Parent shall within the period of 30 days referred to in clause 7.2.2 serve an Objection Notice, the Parent and the Purchaser
shall, each acting reasonably and in good faith, enter into discussions and endeavour to agree (and, if so agreed, amend) the
Draft Completion Statement, which shall then be the final Completion Statement. If the Parent and the Purchaser shall fail to
agree on the Draft Completion Statement within 30 days of the service of the Objection Notice on the Purchaser, then either the
Parent or the Purchaser may thereafter refer the matters in dispute (the “Disputed Matters”) to such independent
firm of accountants as they agree, or should they fail to reach such agreement on an independent firm of accountants within 21
days, the Disputed Matters shall be referred to such independent firm of chartered accountants (being a reputable accountancy
firm with at least 100 partners with experience of providing accountancy services to companies whose business and geographic scope
are similar to that of the Target) nominated by such third party as the Purchaser and the Parent may agree (or, in the absence
of agreement, nominated (acting reasonably and in good faith) by the then president of the Institute of Chartered Accountants
in England and Wales on application of either the Purchaser or the Parent). The
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





22







| |  | independent firm of accountants, as so determined,
                                         (the “Independent Accountants”) shall decide the Disputed Matters
                                         as experts and not as arbitrators and its decision shall be final and binding upon the
                                         Parties (save in the case of fraud or manifest material error).
| |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.2.6 | The
                                         Independent Accountants shall act on the following basis, and the Parent and the Purchaser
                                         shall ensure that the terms of engagement of the Independent Accountants shall conform
                                         with such basis and shall otherwise be on such terms as they shall agree or, in the absence
                                         of such agreement, as may be determined by the Independent Accountants:
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | their
                                         sole duty will be to determine the dispute between the Parent and the Purchaser referred
                                         to them under clause 7.2.5, which may include any dispute concerning the interpretation
                                         of this Agreement which may affect the content of the Completion Statement or any dispute
                                         as to the jurisdiction of the Independent Accountants to decide the dispute or the content
                                         or interpretation of their terms of reference;
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | the
                                         Parent and the Purchaser shall each provide the Independent Accountants with all information
                                         relating to the Target which is in their possession or under their control (including,
                                         in the case of the Purchaser, information in the possession or control of the Enlarged
                                         Group and/or the Purchaser’s accountants) and which the Independent Accountants
                                         may reasonably require (provided that where information prepared by the Purchaser’s
                                         accountants is to be disclosed information, it is agreed and acknowledged that such disclosure
                                         may, if so required by the Purchaser’s accountants, be conditional on their signing
                                         a non-disclosure letter in a customary form in favour of the Purchaser’s accountants);
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | the
                                         fees and expenses of the Independent Accountants (including the fees and expenses of
                                         any professional advisers engaged under clause 7.2.6(e)) shall be paid by the Parent
                                         and the Purchaser in equal proportions;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | the
                                         Independent Accountants shall determine their own procedure but shall:
| | --- | -------------------------------------------------------------------------------------------------------------------



| | (i) | give
                                         the Parent and the Purchaser a reasonable opportunity to make written and, if agreed
                                         by the Independent Accountants, oral representations to them;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | require
                                         that the Parent and the Purchaser supply each other with copies of their written representations
                                         at the same time as they are submitted to the Independent Accountants and allow the other
                                         to respond in writing to any such written representation; and
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (iii) | where
                                         reasonably practicable, permit the Parent and the Purchaser to be present when the other
                                         of them is making oral submissions to the Independent Accountants and to make oral submissions
                                         in reply;
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (e) | the
                                         Independent Accountants may, if they reasonably consider this necessary to reach their
                                         determination, instruct valuers, solicitors and other professional advisers;
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (f) | subject
                                         to the Independent Accountants having promptly upon request received from the Parent
                                         and the Purchaser all information referred to in clause 7.2.6(b) and the procedure referred
                                         to in clause 7.2.6(d) having been concluded, the
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





23







| |  | Independent Accountants shall make their
                                         determination as soon as is reasonably practicable but no later than 30 days (or such
                                         period as the Purchaser and the Parent, each acting reasonably, may agree) after the
                                         dispute is referred to them; and
| |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (g) | the
                                         Independent Accountants shall make their determination in writing and shall attach a
                                         list of all adjustments (if any) to be made to the Draft Completion Statement, and the
                                         Draft Completion Statement as so adjusted (if so adjusted), which shall become the final
                                         Completion Statement.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.3 | Payments
                                         due to Price adjustment
| | --- | -------------------------------------------------------------------------



| | 7.3.1 | If
                                         by reference to the final Completion Statement the Price is to be decreased in accordance
                                         with clause 7.1.1, then an amount equal to the Net Asset Shortfall shall be repaid to
                                         the Purchaser by the Parent. Such payment shall be satisfied from the Vendor’s
                                         Lawyers’ Client Account and the sole recourse of the Purchaser in respect of any
                                         price adjustment under this clause 7 shall be to the release of funds to the Purchaser
                                         from the Vendor’s Lawyers’ Client Account.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.3.2 | For
                                         the purpose of satisfying payments under clause 7.3.1, the Vendor’s Lawyers shall
                                         retain in the Vendor’s Lawyers’ Client Account an amount of $200,000 until
                                         the Completion Statement has been finalised in accordance with clause 7.2 and the payment
                                         under clause 7.3.1 has been made, if applicable. Any payment made in accordance with
                                         clause 7.3.1 shall be limited to a maximum amount of $200,000.
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.3.3 | Immediately
                                         upon agreement or determination of the final Completion Statement and any price adjustment
                                         in accordance with clauses 7.1 and 7.2 above, the Parent and the Purchaser shall issue
                                         joint instructions to the Vendor’s Lawyers instructing either:
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | the
                                         release of the entire retained amount of $200,000 to the Parent; or
| | --- | ----------------------------------------------------------------------------------------------------------------



| | (b) | in
                                         the event that any price adjustment payment is to be made pursuant to clause 7.3.1 above:
| | --- | -------------------------------------------------------------------------------------------------------------------------------------



| | (i) | the
                                         release to the Purchaser of such portion of the retained $200,000 as is equal to the
                                         Net Asset Shortfall; and
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | the
                                         release to the Parent of the such portion of the retained $200,000 as remains following
                                         the release of funds to the Purchaser pursuant to clause 7.3.3(b)(i),
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



and
the Vendor’s Lawyers shall release the retained $200,000 in accordance with such instructions.



| | 7.4 | Accounting
                                         policies and practices
| | --- | --------------------------------------------------------------------------



The
Completion Statement shall be prepared in accordance with the accounting principles and policies set out in Part C to Schedule
6. For the avoidance of doubt, the LPR Assets shall not be included within the scope of the Completion Statement.





24







| | 8. | Parent
                                         and Vendor Assurances
| | -- | ---------------------------------------------------------------------



| | 8.1 | Transfer
                                         of Target Shares
| | --- | ------------------------------------------------------------------



The
Vendor and the Parent each consent to, and waive all rights of pre-emption, rights of first refusal, veto rights and such other
rights they may have as otherwise prohibit, restrict or impair, the transfer of the Target Shares to the Purchaser in accordance
with this Agreement.



| | 8.2 | Assurances
                                         at Completion
| | --- | -----------------------------------------------------------------



| | 8.2.1 | At
                                         Completion, the Vendor and the Parent each waive any claims or rights or causes of action
                                         they may have (howsoever arising, whether known or unknown) against:
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | the
                                         Target;
| | --- | ----------------------------------------------------



| | (b) | each
                                         officer, employee, consultant, auditor and professional adviser of the Target, in so
                                         far as such claim, right or cause of action concerns the affairs of the Target or the
                                         Business;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | each
                                         other, in so far as such claim, right or cause of action concerns the affairs of the
                                         Target or the Business,
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



in
each case, save where such claim, right or cause of action arises under, or in respect of any breach of, any Transaction Document;



| | 8.2.2 | Nothing
                                         in clause 8.2.1 shall be construed as a waiver of any right of any officer, employee
                                         or consultant of the Target in respect of any unpaid fees, salary, benefits and expenses
                                         under his/her terms of engagement since the immediately preceding monthly pay-roll date
                                         of the Target.
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 8.3 | Restrictive
                                         covenants
| | --- | --------------------------------------------------------------



| | 8.3.1 | the
                                         Parent undertakes to the Purchaser that it shall not (and it shall procure that its Associates
                                         shall not) during the Restricted Period, either on his/her own account (or on the account
                                         of its Associate) or in conjunction with or for the benefit of any other person, directly
                                         or indirectly, in any capacity whatsoever (including whether acting as principal or as
                                         an officer, employee or consultant of a third party):
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | carry
                                         on or be concerned, engaged or interested in any Restricted Business (other than as a
                                         holder of interests in securities admitted to trading on any Internationally Recognised
                                         Stock Exchange and representing (in aggregate together with the holdings of his/her Associates)
                                         less than five per cent (5%) in number of all securities of the same class and designation
                                         so admitted to trading);
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | entice
                                         away (or endeavour to entice away) from their employment (or other engagement) by the
                                         Enlarged Group, or employ or engage (or offer to employ or engage) in any capacity (including
                                         as an officer, employee or consultant), any person who is an officer, employee or consultant
                                         of the Target at Completion.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 8.3.2 | The
                                         provisions of clause 8.3.1 (subject to the further provisions of this clause 8.3) shall,
                                         with the prior written consent of the Purchaser, be directly enforceable by each member
                                         of the Enlarged Group notwithstanding that they may not be a signatory to this Agreement.
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





25







| | 8.3.3 | The
                                         Parties agree and acknowledge that each of the covenants contained in clause 8.3.1 is
                                         reasonable and necessary for the protection of the Purchaser’s legitimate interests
                                         in the goodwill of the business of the Target. Each of the covenants contained in clauses
                                         8.3.1(a) and 8.3.1(b) shall be construed as a separate and independent covenant and shall
                                         be enforceable by the Purchaser (and, subject to clause 8.3.2, by each member of the
                                         Enlarged Group) separately and independently of any right to enforce any one or more
                                         of the other covenants contained in clause 8.3.1. If one or more of the covenants is
                                         held to be void or unenforceable, the validity of the remaining covenants shall not be
                                         affected. If any such covenant shall be found to be void or voidable but would be valid
                                         and enforceable if some part or parts of the restriction or covenant were deleted, such
                                         restriction or undertaking shall apply with such modification as may be necessary to
                                         make it valid and enforceable.
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 8.3.4 | Without
                                         prejudice to any other remedy which may be available, the Purchaser (and, subject to
                                         clause 8.3.2, any member of the Enlarged Group) shall be entitled to seek injunctive
                                         or other equitable relief in relation to any breach or prospective breach of any covenant
                                         in clause 8.3.1.
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 8.3.5 | No
                                         breach of clause 8.3.1(b) shall arise by reason of:
| | ----- | -----------------------------------------------------------------------------------------------



| | (a) | any
                                         public advertisement (including, but not limited to, placing advertisements online (Internet)
                                         in journals and newspapers) being made inviting applications for any position of employment
                                         or other engagement;
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | the
                                         receipt of responses to any such public advertisement or other enquiry as to the availability
                                         of any position of employment or other engagement;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | any
                                         person offering such employment or other engagement to any such respondent or enquirer;
                                         and
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | any
                                         person thereafter employing or engaging any such respondent or enquirer,
| | --- | ---------------------------------------------------------------------------------------------------------------------



provided
always that:



| | (i) | such
                                         public advertisement was not intentionally and specifically directed at any officers,
                                         managers, employees or consultants of the Target; and
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | no
                                         ancillary communication was made specifically by (or on behalf of, at the direction of,
                                         or with the approval or knowledge of) the Parent (or its Associate) to any officers,
                                         employees or consultants of the Target directing them to the fact that such public advertisement
                                         was so made or indicating that they should make any such enquiry.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 8.3.6 | The
                                         Purchaser (and the members of the Enlarged Group) shall have no right to bring any claim
                                         in respect of any breach of clause 8.3.1 unless and until Completion has occurred (where
                                         after a claim may be brought in reference to any breach thereof whether occurring before
                                         or after Completion).
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 9. | PurchaserWarranties andUndertakings
| | -- | -----------------------------------



| | 9.1 | Purchaser
                                         warranties
| | --- | -------------------------------------------------------------



| | 9.1.1 | The
                                         Purchaser warrants to Parent that:
| | ----- | -------------------------------------------------------------------------------





26







| | (a) | it
                                         (and each of its Associates that is a party thereto) has the capacity and authority (without
                                         requiring the Authorisation of any Authority) to enter into and perform this Agreement
                                         and each other transfer, certificate, undertaking and agreement (if any) entered into
                                         (or to be entered into) by it (or, as the case may be, its Associate) pursuant to this
                                         Agreement (together “Purchaser Group Documents”);
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | each
                                         Purchaser Group Document will, if and when executed and delivered by it (or, as the case
                                         may be, its relevant Associate), constitute binding obligations enforceable against it
                                         (or, as the case may be, its Associate) in accordance with its terms; and
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | it
                                         is not insolvent or bankrupt under any Laws applicable to it, nor is it unable to pay
                                         its debts as they fall due, nor has any arrangement (whether by court proceedings or
                                         otherwise) been proposed under which its creditors (or any group of them) could receive
                                         less than the amounts due to them nor are any proceedings in relation to any compromise
                                         or arrangement with creditors, any winding up, bankruptcy or other insolvency proceedings
                                         concerning it (or any of its/his/her assets or interests) current, pending or threatened.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 9.1.2 | The
                                         warranties given by the Purchaser in clause 9.1.1 are given as at the date of this Agreement.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------



| | 9.1.3 | Without
                                         restricting the rights of the Parent or the ability of the Parent to claim damages on
                                         any basis available to it, the Purchaser undertakes to the Parent that if there is a
                                         breach of any of the warranties given by the Purchaser at clauses 9.1.1(a) to 9.1.1(c)
                                         (inclusive) or any other covenant or undertaking given by the Purchaser under this Agreement,
                                         the Purchaser will, on demand by the Parent, pay to the Parent or, (in the case of a
                                         liability to another person which has not been discharged) at the Parent’s direction,
                                         the person to whom the liability has been incurred an amount equal to:
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | any
                                         liability which the Parent (or any member of the Vendor Group) has incurred which it
                                         would not have incurred had such warranty, covenant or undertaking not been breached;
                                         and
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | all
                                         costs and expenses (together with any VAT or comparable tax thereon) which may be incurred
                                         by the Parent (or any other member of the Vendor Group) as a result of or in connection
                                         with any breach of such warranty, covenant or undertaking.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 9.2 | Access
                                         to Information
| | --- | --------------------------------------------------------------



After
the Closing, the Purchaser shall, and shall cause its Affiliates to, grant or furnish the Parent and its representatives, counsel
and accountants reasonable access, during normal business hours and upon prior written notice of at least three business days,
to the personnel, properties, books and records of the Target in connection with (i) any Tax submission or return of the
Parent (or any member of the Vendor Group) to the extent necessary to prepare such Tax submission or return or (ii) any matter
for which indemnification is being sought pursuant to clause 10.6. The Purchaser shall deliver, at the Parents’ expense,
complete and



27







accurate copies of any books and records reasonably requested by the Parent in connection with this clause 9.2.



| | 10. | ParentWarranties
| | --- | ----------------



| | 10.1 | Giving
                                         of Warranties
| | ---- | -------------------------------------------------------------



Subject
always to clauses 10.2, 10.3 and 10.4, the Parent warrants to the Purchaser that each of the Warranties is true and accurate on
the date of this Agreement. The Parties acknowledge and accept that the Purchaser is entering into this Agreement in reliance
upon each of the Warranties.



| | 10.2 | Disclosure
| | ---- | ----------



| | 10.2.1 | The
                                         Warranties are given subject to matters fairly disclosed (with sufficient explanation
                                         and detail to enable the Purchaser to identify the nature and scope of the matter disclosed)
                                         in or under the terms of the Disclosure Letter.
| | ------ | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.2.2 | On
                                         the date of this Agreement:
| | ------ | -----------------------------------------------------------------------



| | (a) | the
                                         Parent shall deliver to the Purchaser the Disclosure Letter (together with a copy of
                                         the Disclosure Bundle in electronic format) duly executed by the Parent; and
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | the
                                         Purchaser shall deliver to the Parent an acknowledgement of receipt of the Disclosure
                                         Letter (and such copy of the Disclosure Bundle) duly signed by the Purchaser.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.3 | Limitations
| | ---- | -----------



Any
liability in respect of a Warranty Claim shall be subject to the provisions of clauses 6 and 11.



| | 10.4 | Parent’s
                                         knowledge and awareness
| | ---- | -------------------------------------------------------------------------



Where
a Warranty is qualified by a reference (however expressed) to the knowledge or awareness of the Parent, the Parent shall be deemed
to know or be aware of anything which is actually known to any of the following individuals:



| | (a) | Dale
                                         Parker;
| | --- | -----------------------------------------------------



| | (b) | Richard
                                         Ehrich;
| | --- | --------------------------------------------------------



| | (c) | Nico
                                         Bekooy; and
| | --- | ---------------------------------------------------------



| | (d) | Dan
                                         Skites.
| | --- | ----------------------------------------------------



| | 10.5 | Warranties
                                         to be independent
| | ---- | ---------------------------------------------------------------------



Each
of the Warranties shall be separate and independent and, save as otherwise expressly provided, shall not be limited by reference
to any other Warranty.



| | 10.6 | Indemnity
                                         basis of recovery
| | ---- | --------------------------------------------------------------------





28







Without
restricting the rights of the Target or the Purchaser or the ability of the Purchaser to claim damages on any basis available
to it, the Parent undertakes to the Purchaser that if there is a breach of any Warranty the Parent will, on demand by the Purchaser,
pay to the Purchaser or, (in the case of a liability to another person which has not been discharged) at the Purchaser’s
direction, the person to whom the liability has been incurred an amount equal to:



| | (a) | any
                                         liability which the Target or the Purchaser has incurred which it would not have incurred
                                         had the Warranty not been breached; and
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | all
                                         costs and expenses (together with any irrecoverable VAT or comparable tax thereon) which
                                         may be incurred by the Purchaser, the Target or the Enlarged Group as a result of or
                                         in connection with any breach of the Warranty.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.7 | Adjustment
                                         of Price
| | ---- | ------------------------------------------------------------



Any
sum payable to the Purchaser in respect of any Warranty Claim shall be treated as a reduction in the Price by an equal amount.



| | 10.8 | Calculation
                                         of liability
| | ---- | -----------------------------------------------------------------



For
the sake of clarity it is specifically noted that any liability of the Parent or the Vendor hereunder shall, subject to the provisions
of Schedule 5, be calculated on the basis of the actual Loss caused by the breach of a Warranty or other breach of the Agreement,
as applicable, without regard to the attribution of the Price made under clause 4.2.



| | 11. | Limitations
                                         on Liability
| | --- | -----------------------------------------------------------------



| | 11.1 | Application
                                         of limitations
| | ---- | -------------------------------------------------------------------



Subject
to clause 11.2, the liability of the Parent and the Vendor in respect of any claim arising under, or for breach of, this Agreement
shall be limited as set out in Schedule 5.



| | 11.2 | Disapplication
                                         of limitations
| | ---- | ----------------------------------------------------------------------



The
provisions of clause 11.1 and Schedule 5 shall not apply so as to limit the liability of the Parent in respect of any fraud or
willful misrepresentation by it (or any of its Associates) or any remedy available to the Purchaser against such person(s) in
respect thereof.



| | 12. | TaxIndemnity
| | --- | ------------



| | 12.1 | Fundamental
                                         Tax Warranties
| | ---- | -------------------------------------------------------------------



| | 12.1.1 | Without
                                         prejudice to the right of the Purchaser to claim on any other basis or take advantage
                                         of any other remedies available to it, if any of the Fundamental Tax Warranties is breached,
                                         the Vendor undertakes to pay to the Purchaser on demand subject to the provisions of
                                         Schedule 5:
| | ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | the
                                         Tax payable by the Target that the Target would not have been required to pay if the
                                         Fundamental Tax Warranty had not been breached; and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





29







| | (b) | all
                                         reasonable third-party costs and expenses (including, without limitation, legal and other
                                         professional fees and costs and expenses properly incurred by the Purchaser or the Target
                                         as a result of the breach of the Fundamental Tax Warranty.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 12.1.2 | A
                                         payment made in accordance with the above provisions shall include any amount necessary
                                         to ensure that, after Taxation of the payment, the Purchaser is left with the same amount
                                         it would have had if the payment was not subject to Taxation.
| | ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 13. | ExistingLease
| | --- | -------------



| | 13.1 | Existing
                                         Lease
| | ---- | -------------------------------------------------------



The
Parent and the Purchaser each hereby agree and undertake to use reasonable endeavours to procure that, as soon as reasonably practicable
following Completion, the lease dated 5 November 2014 among (1) Geoghegan Bros Limited; (2) the Target; and (3) the Parent in
relation to Unit 4, Caxton Place, Caxton Way, Stevenage, Hertfordshire SG1 2UG (the “Existing Lease”)
be amended to the effect that the Parent will no longer be a party to the Existing Lease, and will have no rights or obligations
thereunder. Such reasonable endeavours may include (but are not limited to) the Purchaser complying with any reasonable request
made by Geoghegan Bros Limited as a condition to the provision of their consent as landlord under the Existing Lease for the Purchaser
to become a party to the Existing Lease and having the same obligations as the Parent currently has under the Lease.



| | 13.2 | Transitional
                                         Period
| | ---- | ------------------------------------------------------------



| | 13.2.1 | Until
                                         such time as the Existing Lease has been amended pursuant to clause 13.1 above, the Parent
                                         agrees and undertakes that it shall not seek to exercise or enforce any of its rights
                                         as a tenant under the Existing Lease.
| | ------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 13.2.2 | The
                                         Purchaser agrees and undertakes to indemnify the Parent against any claims for rent,
                                         service charge or any other sums due under the Existing Lease with effect from Completion
                                         which may be made against the Parent following Completion.
| | ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 14. | ConfidentialInformation
| | --- | -----------------------



| | 14.1 | Non-disclosure
                                         of Confidential Information
| | ---- | -----------------------------------------------------------------------------------



Subject
to Completion and to clauses 9.2 and 14.2, the Parent agrees and undertakes to (and to procure that his/her/its Associates (such
person and his/her/its Associates being a “Receiving Party”, and collectively, the“Receiving
Group”) shall) keep confidential and not disclose to any third party, nor use other than for a Permitted Purpose, any
Confidential Information.



| | 14.2 | Exceptions
| | ---- | ----------



| | 14.2.1 | Clause
                                         14.2 shall not apply if and to the extent that:
| | ------ | -----------------------------------------------------------------------------------------------



| | (a) | such
                                         Confidential Information is in the public domain (other than by reason of a breach of
                                         any obligation of confidentiality applicable to the relevant Receiving Group);
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





30







| | (b) | such
                                         Confidential Information is disclosed to the relevant Receiving Group on a non-confidential
                                         basis by person(s) (other than any member of the Enlarged Group (or any person acting
                                         on behalf thereof)) in circumstances where the relevant Receiving Group reasonably believed
                                         that such disclosure was lawfully made without breach of any obligation of confidentiality
                                         by such person(s);
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | a
                                         member of the Enlarged Group has consented in writing to such disclosure and/or use of
                                         such Confidential Information or has otherwise confirmed in writing that such Confidential
                                         Information is not confidential; or
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | such
                                         disclosure or use is required by Law, the rules of any investment exchange to which the
                                         relevant Receiving Party’s Group is subject, or by any competent Authority having
                                         jurisdiction over the relevant Receiving Group.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 14.2.2 | If
                                         disclosure or use is to be made pursuant to clause 14.2.1(d) then, if permitted by Law,
                                         the relevant Receiving Party shall consult with the Purchaser reasonably in advance of
                                         such disclosure or use so as to permit the Enlarged Group reasonable opportunity to review
                                         and comment on such disclosure or intended use and, if so desired by the Purchaser, for
                                         the Enlarged Group to take any reasonable action to prevent or restrict such disclosure
                                         or use.
| | ------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 14.3 | Disclosure
                                         between members of the Receiving Group and/or Delegates
| | ---- | -----------------------------------------------------------------------------------------------------------



Notwithstanding
clause 14.1, the disclosure of Confidential Information between members of the Receiving Group and/or Delegates of the Receiving
Group shall be permitted, provided that:



| | (a) | such
                                         disclosure is restricted to those persons who reasonably need to know such information
                                         in connection with the Permitted Purpose or by the nature of their role as a Delegate
                                         of the relevant Receiving Group; and
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | the
                                         relevant Receiving Party shall procure that persons to whom Confidential Information
                                         is disclosed under this clause 14.3, and all other Delegates of its/his/her Receiving
                                         Group, shall comply with the obligations of confidentiality and restrictions on use applicable
                                         under this clause 14 in the same manner as such restrictions and obligations apply to
                                         such Receiving Party.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 14.4 | Obligations
                                         survive termination
| | ---- | ------------------------------------------------------------------------



The
obligations of each Receiving Party contained in this clause 12 shall survive Completion and shall continue for a period of 5
years after Completion.



| | 14.5 | Injunctive
                                         relief
| | ---- | ----------------------------------------------------------



Each
Party acknowledges that monetary damages alone may not be a sufficient remedy for any actual or threatened breach of this clause‎
12, that injunctive and specific performance or any other equitable relief may be available to the non-defaulting Party in respect
of any such breach and that no proof of special damages shall be necessary for the enforcement of this clause 12. Such remedies
shall be in addition to, and not in lieu or limitation of, any other remedy available to the non-defaulting Party under this Agreement
or otherwise at Law or in equity.





31







| | 14.6 | Publicity
| | ---- | ---------



The
Parties agree that a joint press release concerning the transactions contemplated by this Agreement shall be prepared and issued
on a date to be agreed. Each Party undertakes not to disclose, without the approval of the other Party, any information regarding
the transactions contemplated by this Agreement in a manner or at time not agreed between the Parties. Notwithstanding the foregoing,
each Party shall be entitled to disclose such information as is required by law or stock exchange recommendations or other similar
regulations to which the Party is subject, in which case the Party undertakes to reasonably confer with the other Party prior
to such disclosure.



| | 15. | Notices
| | --- | -------



| | 15.1 | Method
                                         of service
| | ---- | ----------------------------------------------------------



A
notice or other communication given under this Agreement by any Party to the other Party shall be in writing (which shall include
e-mail), signed in manuscript by or on behalf of the Party giving it (which includes a faxed or scanned manuscript signature or,
in the case of e-mail, that the message was sent from an e-mail address of the Party giving it (and which sender’s e-mail
address is one to which notices and other communications may also be validly delivered to that Party under this clause 15.1)),
in the English language and may be either:



| | (a) | delivered
                                         personally by hand; or
| | --- | -------------------------------------------------------------------------



| | (b) | if
                                         sent from within the same jurisdiction in which the recipient’s address is located,
                                         then sent by first class pre-paid post or courier (or, if sent from outside the jurisdiction
                                         in which the recipient’s address is located, then sent by international courier);
                                         or
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | sent
                                         by facsimile; or
| | --- | --------------------------------------------------------------



| | (d) | sent
                                         by email,
| | --- | -------------------------------------------------------





| | in each case addressed as follows:
| | ----------------------------------
| |                                   
| | For the Purchaser:                
| |                                   
| | Address:                          
| |                                   
| | E-mail address:                   
| |                                   
| | For the attention of:             









| |                       |                                                                                                                      
| | --------------------- | ---------------------------------------------------------------------------------------------------------------------
| | For the Vendor:      
| |                       |                                                                                                                      
| | Address:              | c/o Image Sensing Systems, Inc, 500 Spruce Tree Centre, 1600
    University Ave. West,  St. Paul, Minnesota 55104 USA
| |                       |                                                                                                                      
| | E-mail address:       | DParker@imagesensing.com                                                                                             
| |                       |                                                                                                                      
| | For the attention of: | Dale Parker, CEO                                                                                                     












* The information denoted with an asterisk has been omitted and field separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to this information.



32











| | For the Parent:      
| | ---------------------
| |                      
| | Address:             
| |                      
| | E-mail address:      
| |                      
| | For the attention of:



| | 15.2 | Deemed
                                         service
| | ---- | -------------------------------------------------------



Without
prejudice to any earlier time at which a notice or other communication may be actually given and received, a properly addressed
notice will in any event:



| | (a) | if
                                         personally delivered, be deemed to have been given and received upon delivery at the
                                         relevant address;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | if
                                         posted to an address in the same jurisdiction as that from which it was sent by first
                                         class pre-paid post or courier (which courier advises of delivery within two Business
                                         Days), be deemed to have been given and received two Business Days after the date of
                                         posting;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | if
                                         sent to an address in a different jurisdiction as that from which it was sent by international
                                         courier (which courier advises of delivery within seven Business Days), be deemed to
                                         have been given and received seven Business Days after the date of posting;
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | if
                                         sent by facsimile and a confirmatory successful transmission report is given by the transmitting
                                         device, be deemed to have been given and received on the date of transmission (or, if
                                         such day is not a Business Day, then the next Business Day); and
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (e) | if
                                         sent by e-mail and no delivery failure is reported to or by the sender’s e-mail
                                         server, be deemed to have been given and received on the date such e-mail was sent (or,
                                         if such day is not a Business Day, then the next Business Day).
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 15.3 | Proof
                                         of service
| | ---- | ---------------------------------------------------------



In
proving service, it shall be sufficient to prove that:



| | (a) | the
                                         envelope containing the notice or other communication was addressed to the address of
                                         the relevant Party as set out in clause 15.1 (or as otherwise notified by that Party
                                         pursuant to clause 15.5) and delivered either to that address or into the custody of
                                         the postal authorities as first class pre-paid post or custody of the courier, or international
                                         courier firm; or
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | the
                                         notice or other communication was transmitted in full by facsimile to the facsimile number
                                         of the relevant Party set out in clause 15.1 (or as otherwise notified by that Party
                                         pursuant to clause 15.5) (as evidenced by a confirmatory transmission report); or
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



33









| | (c) | that
                                         the e-mail was correctly addressed and that no delivery failure was reported to or by
                                         the sender’s e-mail server.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 15.4 | Receipt
                                         outside business hours
| | ---- | -----------------------------------------------------------------------



If
receipt or deemed receipt of a notice or other communication occurs before 9.30 a.m. in the country of receipt on a Business Day,
the notice or other communication shall be deemed to have been received at 9.30 a.m. (in the country of receipt) on that day.
If deemed receipt occurs after 5.30 p.m. (in the country of receipt) on a Business Day or on a day which is not a Business Day,
the notice or other communication shall be deemed to have been received at 9.30 a.m. (in the country of receipt) on the next Business
Day.



| | 15.5 | Change
                                         of address
| | ---- | ----------------------------------------------------------



Any
Party to this Agreement may give at least five Business Days’ notice to the other Party to change its address or other details
specified in clause 15.1.



| | 15.6 | Service
                                         of proceedings
| | ---- | ---------------------------------------------------------------



This
clause does not apply to the service of any documents relating to any Proceedings or where applicable, any arbitration or other
method of dispute resolution.



| | 16. | Miscellaneous
| | --- | -------------



| | 16.1 | Binding
                                         nature of this Agreement
| | ---- | -------------------------------------------------------------------------



Each
Party warrants and undertakes to each other Party that this Agreement, and each other Transaction Document to which it is a party,
has been duly executed by it and comprises a valid and legally binding obligation enforceable against it in accordance with the
terms of this Agreement.



| | 16.2 | Further
                                         assurance
| | ---- | ----------------------------------------------------------



| | 16.2.1 | Each
                                         Party shall (at its/his/her own expense) execute and deliver all such documents and do
                                         all such things as may be reasonably required from time to time to give full effect to
                                         the provisions of this Agreement in so far as the same are to be performed by such Party.
| | ------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.2.2 | Without
                                         prejudice to any other rights or remedies of the Purchaser under this Agreement, if any
                                         Intellectual Property belonging to the Parent or any other Vendor Group Company and which
                                         relates exclusively to the Business has not been transferred to the Target or the Purchaser
                                         by virtue of the transactions entered into under or pursuant to this Agreement:
| | ------ | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | the
                                         Parent shall, as soon as reasonably practicable at its own cost, transfer or procure
                                         the transfer of such Intellectual Property to the Target, or otherwise to the order of
                                         the Purchaser, for no consideration; and
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | each
                                         Party shall provide such assistance to the other Party as it reasonably requires for
                                         the purposes of this clause 16.2.2.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.3 | Costs
                                         and other payments
| | ---- | -----------------------------------------------------------------





34









| | 16.3.1 | Save
                                         as expressly provided in this Agreement to the contrary, each Party shall be responsible
                                         for its own costs incurred in connection with the negotiation, preparation, execution
                                         and implementation by it of this Agreement and of all Transaction Documents, provided
                                         that this clause 16.3 shall not prejudice the right of any Party to seek to recover its
                                         costs in any litigation or dispute resolution procedure which may arise out of this Agreement.
| | ------ | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.4 | Assignment
                                         and other dealings
| | ---- | ----------------------------------------------------------------------



| | 16.4.1 | No
                                         Party may assign or otherwise transfer any of its rights or obligations under this Agreement.
| | ------ | -----------------------------------------------------------------------------------------------------------------------------------------



| | 16.4.2 | This
                                         Agreement shall be binding on and inure to the benefit of the Parties and their respective
                                         successors and their permitted assignees. Subject to, and upon any succession or assignment
                                         permitted by this Agreement, any successor or permitted assignee shall, in its own right,
                                         be able to enforce any term of this Agreement in accordance with its terms as if it were
                                         a Party but until such time, any such successor or permitted assignee shall have no rights,
                                         whether as a third party, or otherwise.
| | ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.5 | Entire
                                         agreement
| | ---- | ---------------------------------------------------------



| | 16.5.1 | This
                                         Agreement (together with the other documents to be entered into in connection with this
                                         Agreement in the Agreed Form) (the “Transaction Documents”) constitute
                                         the whole agreement and understanding between the Parties relating to the subject matter
                                         of the Transaction Documents and supersede and extinguish any previous agreement or arrangement
                                         between the Parties relating to the subject matter thereof and excludes any representation,
                                         warranty, promise, assurance or other undertaking implied by Law, custom or course of
                                         dealing.
| | ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.5.2 | Each
                                         Party acknowledges and agrees that:
| | ------ | ---------------------------------------------------------------------------------



| | (a) | it
                                         has not relied on, or been induced to enter into, this Agreement by any representation
                                         (including any misrepresentation), warranty, statement, assurance, promise or undertaking
                                         of any kind except as expressly included in the Transaction Documents; and
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | no
                                         Party shall be entitled to claim damages and/or terminate or rescind this Agreement by
                                         reason of any misrepresentation (other than a fraudulent misrepresentation) having been
                                         made to it by any person (whether a Party or not) at any time and upon which it has relied
                                         before entering into this Agreement.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.5.3 | Nothing
                                         in this clause 16.5 shall limit or exclude any liability or remedy for fraud or willful
                                         misconduct.
| | ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.6 | Variation
| | ---- | ---------



This
Agreement may be varied by agreement in writing signed by the Purchaser and the Parent.



| | 16.7 | Severance
| | ---- | ---------





35







| | 16.7.1 | If
                                         any provision of this Agreement (or part of a provision) is held by any court of competent
                                         jurisdiction to be invalid, unenforceable or illegal, such provision (or part) shall
                                         to that extent be deemed not to form part of this Agreement and the other provisions
                                         of this Agreement shall remain in force.
| | ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.7.2 | If
                                         any invalid, unenforceable or illegal provision would be valid, enforceable or legal
                                         if some part of it were deleted, the provision shall apply with whatever modification
                                         is necessary to give effect to the intention of the Parties.
| | ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.8 | Counterparts
| | ---- | ------------



| | 16.8.1 | This
                                         Agreement may be executed in any number of counterparts, each of which is deemed to be
                                         an original and which together have the same effect as if each Party had signed the same
                                         document.
| | ------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.8.2 | This
                                         Agreement may be executed through the use of facsimile transmission, and a counterpart
                                         of this Agreement that contains the facsimile signature of a Party, which counterpart
                                         has been transmitted by facsimile transmission to the other Party at such facsimile number
                                         as such other Party shall request, shall constitute an executed counterpart of this Agreement.
| | ------ | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.9 | Language
                                         of the Agreement
| | ---- | ------------------------------------------------------------------



The
language of this Agreement is English and all documents, notices, waivers and all other written communications or otherwise between
the Parties in connection with this Agreement shall be in English.



| | 16.10 | No
                                         agency, joint venture or partnership
| | ----- | --------------------------------------------------------------------------------



Nothing
contained in this Agreement shall constitute or be deemed to constitute an association, joint venture or partnership between the
Parties and no Party shall be, or be construed to be, under the terms of this Agreement the agent of the any other Party for any
purpose or to have any authority to bind or incur any liability on behalf of any other Party, save as expressly provided in this
Agreement.



| | 16.11 | Discretion
| | ----- | ----------



Except
as expressly provided to the contrary in this Agreement (including any express obligation to act in good faith, fairly and/or
reasonably (including any provision which does not allow a Party to unreasonably withhold, condition or delays its approval or
consent)), a Party may exercise any discretion given to it under this Agreement in its absolute discretion and any other Party
may not challenge the exercise of that discretion on the grounds that the Party did not exercise its discretion fairly or reasonably.
Such exercise of discretion shall not be subject to the dispute resolution procedures in this Agreement.



| | 16.12 | Waiver
| | ----- | ------



| | 16.12.1 | No
                                         failure to exercise, nor any delay in exercising, any right, power, privilege or remedy
                                         under this Agreement shall in any way impair or affect the exercise of such right, power
                                         or
| | ------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





36







| |         | privilege or remedy, or operate as a waiver of such right, power or privilege or remedy
                                         in whole or in part.                                                                                                      
| | ------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |         |                                                                                                                                                                                                                                                            
| | 16.12.2 | The
                                         waiver by any Party of any of its rights or remedies arising under this Agreement or
                                         by Law shall not constitute a continuation of that or any other right or remedy.



| | 16.12.3 | No
                                         single or partial exercise of any right, power, privilege or remedy under this Agreement
                                         shall preclude or restrict the further exercise of that or any other right, power, privilege
                                         or remedy.
| | ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.13 | Liability
| | ----- | ---------



Save
as expressly provided to the contrary in this Agreement, all obligations contained in this Agreement and made by the Parties are
given or made by each of them severally in relation to himself only and each of them shall only be liable for any loss or damage
arising from its/his/her own breach of such obligations.



| | 16.14 | Rights
                                         and remedies are cumulative
| | ----- | ---------------------------------------------------------------------------



Save
as expressly provided in this Agreement where any rights and remedies are limited, the rights, powers, privileges and remedies
provided in this Agreement are cumulative and are not exclusive of any rights, powers, privileges or remedies provided by Law
or otherwise.



| | 16.15 | Obligations
                                         to remain in force notwithstanding Completion
| | ----- | --------------------------------------------------------------------------------------------------



Except
to the extent that they have been fully performed and discharged and except where this Agreement expressly provides otherwise,
all provisions of this Agreement (including all representations, warranties and indemnities) remain in full force and effect notwithstanding
Completion and shall not be extinguished or affected by Completion.



| | 16.16 | Third
                                         party rights
| | ----- | -----------------------------------------------------------



| | 16.16.1 | Except
                                         as provided to the contrary in this Agreement (including under clauses 16.4.2 and 16.16.2),
                                         a person who is not a party to this Agreement shall not have any rights under the CRTPA
                                         1999 to enforce any term of this Agreement.
| | ------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.16.2 | The
                                         provisions of clauses 8.3 and 12 are made for the benefit of the Purchaser and the Enlarged
                                         Group and, accordingly, each Enlarged Group company may, with the written consent of
                                         the Purchaser, in its own right enforce those provisions (subject to the further terms
                                         of this Agreement) in accordance with the provisions of the CRTPA 1999, provided that
                                         this Agreement may be amended, varied, suspended, terminated or rescinded without the
                                         consent of any members of the Enlarged Group which is not otherwise a Party.
| | ------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 17. | GoverningLaw andJurisdiction
| | --- | ----------------------------



| | 17.1 | English
                                         law
| | ---- | ----------------------------------------------------



This
Agreement and all matters arising from it (including any Dispute) shall be governed by, and construed in accordance with, the
Laws of England and Wales.





37







| | 17.2 | Jurisdiction
| | ---- | ------------



Each
Party irrevocably submits to the exclusive jurisdiction of the English courts in relation to any Dispute and waives any objection
to proceedings in relation to any Dispute (“Proceedings”) in such courts on the grounds of venue or on the
grounds that the Proceedings have been brought in an inappropriate forum, provided that a judgment or order of the English courts
may be enforced in any court of competent jurisdiction.



| | 17.3 | Process
                                         Agent
| | ---- | ------------------------------------------------------



| | 17.3.1 | Any
                                         Party to this Agreement for the time being incorporated or resident outside England (a
                                         “Foreign Party”) shall appoint and maintain an agent (a “Process
                                         Agent”) with an address in England for service of process of any Proceedings
                                         in England and shall deliver to the other Party details of the Process Agent’s
                                         address (in England) and a copy of the Process Agent’s written acceptance of such
                                         appointment. Service upon the Process Agent shall be good service upon the Foreign Party
                                         appointing the Process Agent whether or not the process is forwarded to, or received
                                         by, the Foreign Party.
| | ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 17.3.2 | The
                                         Foreign Party shall notify the other Party in writing of any change in the address of
                                         the Process Agent within 15 Business Days of such change.
| | ------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 17.3.3 | If
                                         for any reason the Process Agent ceases to act, resigns or no longer has an address in
                                         England, the Foreign Party who appointed him shall immediately appoint a substitute process
                                         agent with an address in England and shall deliver to the other Party within 10 Business
                                         Days details of such substitute agent’s address (in England) and a copy of the
                                         substitute agent’s written acceptance of such appointment.
| | ------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 17.3.4 | If
                                         any Foreign Party fails to appoint and maintain a process agent or fails to notify the
                                         other Party of a change in the Process Agent pursuant to clause 17.3.2 or any substitute
                                         agent pursuant to clause 17.3.3, it shall be effective service for the other Party to
                                         serve process upon the last known address in England of the last known process agent
                                         of that Foreign Party notwithstanding that such process agent is no longer found at such
                                         address or has ceased to act.
| | ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 17.3.5 | Nothing
                                         in this Agreement shall affect the right of service of process in any other manner permitted
                                         by Law.
| | ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 17.3.6 | In
                                         accordance with clause 17.3.1:
| | ------ | --------------------------------------------------------------------------



| | (a) | the
                                         Parent gives notice that it has appointed the process agent named below:
| | --- | ---------------------------------------------------------------------------------------------------------------------



|Name                        | Address                                        
|--------------------------- | -----------------------------------------------
|Covington
    & Burling LLP | 265
    Strand, London, United Kingdom WC2R 1BH



| | (b) | the
                                         Purchaser gives notice that it has appointed the process agent named below:
| | --- | ------------------------------------------------------------------------------------------------------------------------



|Name                 | Address                                                                                 
|-------------------- | ----------------------------------------------------------------------------------------
|CitySync
    Limited | Unit
4 Caxton Place, Caxton Way, Stevenage
        Hertfordshire,
United Kingdom SG1 2UG





38







SCHEDULE
1



Target
company information



|The
    Target                                   
|-------------------------------------------------
|Full
    legal name:                             
|Jurisdiction
    of incorporation:               
|Number:                                          
|Registered
    office:                           
|Directors:                                       
|Secretary:                                       
|Accounting
    reference date:                   
|Auditors:                                        
|Issued
    capital at the date of this Agreement:
|Shareholders
    at Completion:                  





39







SCHEDULE
2



Bank
Accounts



Part
1 - Vendor’s Lawyers’ Client Account



|Bank:
    *           | 
|--------------------- | 
|Address:
    *        | 
|IBAN:
    *           | 
|SWIFT
    code: *     | 
|Sort
    code: *      | 
|Account
    number: * | 
|Account
    name: *   | 










* The information denoted with an asterisk has been omitted and field separately with the Securities and
Exchange Commission. Confidential treatment has been requested with respect to this information.





40







SCHEDULE
3



Completion
obligations



| | 1. | Obligations
                                         of theVendor
                                         and theParent
| | -- | ------------------------------------------------------------------------------------------------------------------------



| | 1.1 | Parent
                                         obligations
| | --- | -----------------------------------------------------------



The
Parent shall:



| | (a) | procure
                                         that on or prior to Completion:
| | --- | --------------------------------------------------------------------------------



| | (i) | a
                                         board meeting of the Target has been held giving effect to the following matters:
| | --- | ----------------------------------------------------------------------------------------------------------------------------



| | (1) | approving
                                         the transactions contemplated by this Agreement
| | --- | --------------------------------------------------------------------------------------------------



| | (2) | approval
                                         of the transfer at Completion of the Target Shares and (subject only to due stamping)
                                         to register in the register of members of the Target, the Purchaser as the holder of
                                         the Target Shares in the statutory books of the Target;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (3) | approving
                                         and authorising the execution of such documents as are to be entered into by the Target
                                         in connection with the transactions contemplated by this Agreement;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (4) | the
                                         approval of the resignations of Richard Ehrich, Dale Parker and Todd Slawson as directors
                                         of the Target with effect from Completion;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (5) | approving
                                         the appointment of Jonas Svensson as a director of the Target with effect from Completion;
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------



| | (6) | approving
                                         the change of the Target’s name to “CitySync Limited”; and
| | --- | -------------------------------------------------------------------------------------------------------------



| | (7) | resolving
                                         that, with effect from Completion, all existing bank mandates and signing authorities
                                         in respect of the banking facilities of the Target shall be revoked and new authorities
                                         shall be approved and on such terms as the Purchaser may direct.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | procure
                                         that at Completion there be delivered to the Purchaser:
| | --- | --------------------------------------------------------------------------------------------------------



| | (i) | two
                                         counterparts of this Agreement duly executed by each of the Vendor and the Parent;
| | --- | -------------------------------------------------------------------------------------------------------------------------------



| | (ii) | two
                                         copies of the Disclosure Letter in an Agreed Form, duly executed by the Parent;
| | ---- | ----------------------------------------------------------------------------------------------------------------------------



| | (iii) | copies
                                         of each power of attorney (each in an Agreed Form) under which this Agreement (and/or
                                         any document entered into in connection with the transactions contemplated by this Agreement)
                                         has been entered into by any of the Vendor, Parent or other Vendor Group Company (if
                                         any);
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





41







| | (iv) | the
                                         notices of resignation of Richard Ehrich, Dale Parker and Todd Slawson as directors of
                                         the Target with effect from Completion (in an Agreed Form), duly executed by the relevant
                                         directors;
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (v) | two
                                         counterparts of the Escrow Agreement (in an Agreed Form) duly executed by the Parent;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------



| | (vi) | a
                                         printed copy of the minutes of the meeting of the board of directors of the Target (in
                                         an Agreed Form) referred to in paragraph 1.1(a)(i) above, certified as a true copy by
                                         a director of the Target;
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (vii) | all
                                         the statutory and other books (duly written up to date) of the Target (including all
                                         certificates of incorporation, articles of association and other constitutional documents,
                                         register of members, and common seal);
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (viii) | original
                                         signed versions of the following documents relating to the Reorganisation (in each case
                                         in an Agreed Form), duly executed by each of the parties thereto:
| | ------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (1) | deed
                                         of assignment between the Target and the Vendor relating to video and radar assets and
                                         liabilities;
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ix) | two
                                         counterparts of a deed of assignment (in an Agreed Form) assigning the LPR Assets from
                                         the Parent to the Purchaser, each duly executed on behalf of the Parent.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.2 | Obligations
                                         of the Vendor
| | --- | ------------------------------------------------------------------



| | 1.2.1 | The
                                         Vendor shall procure that there be delivered to the Purchaser at or before Completion:
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------



| | (i) | in
                                         respect of the Target Shares:
| | --- | -------------------------------------------------------------------------



| | (1) | a
                                         stock transfer form (in an Agreed Form) duly executed by the Vendor in favour of the
                                         Purchaser;
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (2) | the
                                         original share certificate(s) issued by the Target (or, in respect of any missing share
                                         certificate, an indemnity in an Agreed Form duly executed by the registered holder);
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (3) | a
                                         written resolution of the Target approving the change of the Target’s name to “CitySync
                                         Limited”, duly executed by the Vendor as the sole shareholder of the Target; and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (ii) | such
                                         other documents, waivers or consents as the Purchaser may reasonably require to enable
                                         the Purchaser to be registered as holders of the Target Shares.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.3 | Obligations
                                         of the Purchaser
| | --- | ---------------------------------------------------------------------



The
Purchaser shall procure that there be delivered to the Parent at or prior to Completion:



| | (a) | two
                                         counterparts of this Agreement, duly executed on behalf of the Purchaser;
| | --- | ----------------------------------------------------------------------------------------------------------------------





42







| | (b) | two
                                         copies of the Disclosure Letter (in an Agreed Form) duly executed by the Purchaser in
                                         acknowledgement of receipt;
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | a
                                         copy of each power of attorney (each in an Agreed Form) under which this Agreement (and/or
                                         any document entered into in connection with the transactions contemplated by this Agreement)
                                         has been entered into by the Purchaser or any Affiliate of the Purchaser (if any); and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | two
                                         counterparts of the Escrow Agreement (in an Agreed Form) duly executed by the Escrow
                                         Agent and the Purchaser.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



43









SCHEDULE
4



Warranties



Part
A - Fundamental Warranties



| | 1. | Incorporation
                                         andCompliance
| | -- | --------------------------------------------------------------------



| | 1.1 | The
                                         particulars of the Target set out in Schedule 1 are true, complete and accurate and not
                                         misleading.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.2 | The
                                         Target is duly incorporated and validly existing as a private limited company under CA
                                         2006.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.3 | The
                                         Target has no subsidiary undertakings and owns no equity interests in any other person,
                                         nor has it agreed to acquire the same.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.4 | Due
                                         compliance has been made with all the provisions of CA 2006, and all other legal requirements,
                                         in connection with:
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | any
                                         allotment, issue, purchase or redemption of shares, debentures or other securities in
                                         the Target;
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | any
                                         reduction of the share capital of the Target;
| | --- | ------------------------------------------------------------------------------------------



| | (c) | any
                                         amendment to the memorandum or articles of association of the Target;
| | --- | ------------------------------------------------------------------------------------------------------------------



| | (d) | the
                                         passing of any resolutions by the Target; and
| | --- | ------------------------------------------------------------------------------------------



| | (e) | the
                                         payment of any dividends by the Target.
| | --- | ------------------------------------------------------------------------------------



| | 2. | Share
                                         Capital andTitle
| | -- | ---------------------------------------------------------------



| | 2.1 | The
                                         Target Shares have been fully paid for and constitute all the issued and outstanding
                                         shares in the capital of the Target and there are no options or rights to acquire any
                                         unissued shares in the capital of the Target or any agreement or commitment to give or
                                         create any.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.2 | The
                                         Vendor is the registered and sole owner of the Target Shares, and the transfer of such
                                         Target Shares to the Purchaser under this Agreement at Completion constitutes the transfer
                                         of the whole of the right, title and interest (including all legal title to, and all
                                         beneficial interest in) such Target Shares free from all Encumbrances.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.3 | There
                                         is not now existing nor is there any agreement to create any Encumbrance on or affecting
                                         the Target Shares or on unissued shares or other Relevant Securities of the Target.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.4 | Save
                                         for the Target Shares to be transferred to the Purchaser by the Vendor at Completion
                                         in accordance with this Agreement, none of the Parent, the Vendor or any member of the
                                         Vendor Group holds any right, title or interest in respect of any further Relevant Securities
                                         of the Target.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.5 | The
                                         Vendor has the right to exercise all voting and other rights over the Target Shares.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------



44









| | 3. | Authority
| | -- | ---------



| | 3.1 | The
                                         Vendor, the Parent (and each other member of the Vendor Group that is a party thereto)
                                         has the capacity and authority (without requiring the Authorisation of any Authority)
                                         to enter into and perform this Agreement and each other transfer, certificate, undertaking
                                         and agreement (if any) entered into (or to be entered into) by it (or, as the case may
                                         be, its relevant Associate) pursuant to this Agreement (together “Vendor Group
                                         Documents”).
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.2 | Each
                                         Vendor Group Document will, if and when executed and delivered by the parties thereto,
                                         constitute binding obligations enforceable in accordance with its terms against the Vendor,
                                         the Parent and/or each other member of the Vendor Group that is a party thereto.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4. | Brokers
| | -- | -------



| | 4.1 | No
                                         agent, broker, investment banker, person or firm acting in a similar capacity on behalf
                                         of or under the authority of the Vendor, the Parent or the Target is or will be entitled
                                         to any broker’s or finder’s fee or any other commission or similar fee, directly
                                         or indirectly, which is payable by the Target on account of any of the transactions contemplated
                                         under any of the Transaction Documents.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





45







Part
B - Business Warranties



| | 1. | Constitution
                                         and Registers
| | -- | -------------------------------------------------------------------



| | 1.1 | The
                                         copy of the articles of association and memorandum of association of the Target annexed
                                         to the Disclosure Letter is accurate and complete.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.2 | The
                                         register of members of the Target contains an accurate and complete record of the current
                                         members of the Target and the Target has not received any written notice that the register
                                         is incorrect or incomplete or should be rectified.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.3 | The
                                         statutory books (excluding the minute books) of the Target are up to date, in its possession
                                         or control and the Target has not received any written notice that they are incorrect
                                         or incomplete or should be rectified in any material respect.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2. | Solvency
| | -- | --------



| | 2.1 | No
                                         order has been made and no resolution has been passed for the winding up of the Target
                                         or for a provisional liquidator or manager to be appointed in respect of the Target and
                                         no petition has been presented and no meeting has been convened for the purposes of the
                                         winding up of the Target.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.2 | No
                                         administrator has been appointed in relation to the Target, no documents have been filed
                                         with the court for the appointment of an administrator of the Target and no notice of
                                         an intention to appoint an administrator has been given by the Target or any of its directors
                                         or by a qualifying floating charge holder (as defined in paragraph 14 of Schedule B1
                                         to IA 1986).
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.3 | No
                                         receiver or manager (which expression shall include an administrative receiver) has been
                                         appointed in respect of any or all of the Target’s assets, nor has any power of
                                         sale or power to appoint a receiver or manager under the terms of any mortgage, charge
                                         or other security in respect of all or any assets of the Target become exercisable.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.4 | The
                                         Target is not insolvent or unable to pay its debts (within the meaning of section 123
                                         IA 1986), nor has it stopped paying its debts as they fall due (otherwise than by reason
                                         of a bona fide dispute as to their amount or enforceability).
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.5 | No
                                         distress, execution or other process has been levied on any asset of the Target by any
                                         of its creditors.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.6 | No
                                         voluntary arrangement under section 1 IA 1986 or scheme of arrangement under section
                                         895 CA 2006 in respect of the Target or any other compromise or arrangement in respect
                                         of the Target’s creditors generally, or any class of them, has been proposed or
                                         adopted.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.7 | No
                                         statutory demand has been served on the Target, which has not been paid in full or been
                                         withdrawn.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2.8 | The
                                         Target has not suspended or ceased or threatened to suspend or cease to carry on all
                                         or a material part of its business.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





46







| | 2.9 | The
                                         Target has not been a party to any transaction at an undervalue (as defined in section
                                         238 IA 1986), nor has it given or received any preference (as defined in section 239
                                         IA 1986) in either case within the period of two years ending on the date of this Agreement,
                                         nor has the Target at any time been a party to any transaction defrauding creditors (as
                                         defined in section 423 IA 1986).
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3. | Accounts
| | -- | --------



| | 3.1 | General
| | --- | -------



| | 3.1.1 | The
                                         Accounts give a true and fair view of the state of affairs of the Target as at the Accounts
                                         Date.
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.1.2 | The
                                         Accounts:
| | ----- | ------------------------------------------------------



| | (a) | were
                                         prepared and audited in accordance with:
| | --- | --------------------------------------------------------------------------------------



| | (i) | the
                                         laws of England and Wales, including the CA 2006; and
| | --- | --------------------------------------------------------------------------------------------------



| | (ii) | generally
                                         accepted accounting standards in England and Wales as were in force on the Accounts Date;
                                         and
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | were
                                         prepared using the same accounting standards used in the preparation of the Target’s
                                         audited accounts for the preceding two (2) years.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.2 | Management
                                         Accounts
| | --- | ------------------------------------------------------------



The
Management Accounts: (i) were prepared in accordance with US GAAP; and (ii) show with reasonable accuracy (taking account of the
purpose for which they have been prepared), the Target’s trading income and expenditure for the period in respect of which
they were prepared, on a basis consistent with the preparation of previous management accounts of the Target.



| | 3.3 | Business
                                         since the Accounts Date
| | --- | -------------------------------------------------------------------------



Since
the Accounts Date:



| | (a) | the
                                         Target has carried on its business in the ordinary and usual course;
| | --- | -----------------------------------------------------------------------------------------------------------------



| | (b) | no
                                         distribution of capital or income has been declared, made or paid by the Target;
| | --- | ----------------------------------------------------------------------------------------------------------------------------



| | (c) | the
                                         Target has not acquired or disposed of, nor agreed to acquire or dispose of, any asset
                                         otherwise than in the ordinary and usual course of trading;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | the
                                         Target has not assumed or incurred, nor agreed to assume or incur, any liability or obligation
                                         otherwise than in the ordinary and usual course of trading or other than as taken into
                                         account in the Management Accounts;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (e) | no
                                         resolution of the Target’s shareholders has been passed (except for those representing
                                         the ordinary business of an annual general meeting); and
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (f) | the
                                         Target has not repaid or redeemed any share or loan capital.
| | --- | ---------------------------------------------------------------------------------------------------------





47







| | 3.4 | Completion
                                         Statement
| | --- | -------------------------------------------------------------



The
Estimated Completion Statement has been prepared in good faith and in accordance with the accounting principles and policies set
out in Part C to Schedule 6.



| | 4. | TARGET
                                         ASSETS
| | -- | ------------------------------------------------------



| | 4.1 | Ownership
| | --- | ---------



| | 4.1.1 | Save
                                         as disclosed in the Disclosure Letter, all material assets (other than the LPR Assets)
                                         reasonably necessary for the operation of the Business, as currently carried on, are
                                         legally and beneficially owned by the Target, free from Encumbrances other than liens
                                         arising in the ordinary course of business. Such assets, together with the LPR Assets,
                                         constitute all assets that are reasonably necessary for the operation of the Business,
                                         as currently carried on.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.1.2 | The
                                         Target’s fixed asset register as at 31 May 2015 is annexed to the Disclosure Letter
                                         and sets out a materially accurate record of all material plant, machinery, vehicles
                                         and equipment owned or used by it.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.2 | Possession
| | --- | ----------



All
of the material assets owned by the Target or in respect of which the Target have a right of use which are capable of possession
are in the possession or under the control of the Target.



| | 4.3 | Condition
                                         and Adequacy
| | --- | ---------------------------------------------------------------



All
material plant, machinery and equipment used by the Target is in satisfactory condition and is capable of being used for the purpose
for which it is currently being used by the Target.



| | 4.4 | Hire
                                         purchase and leased assets
| | --- | ------------------------------------------------------------------------



Copies
of any material hiring or leasing agreement, hire purchase agreement, or any other similar agreement to which the Target is currently
a party are annexed to the Disclosure Letter.



| | 4.5 | Debts
| | --- | -----



| | 4.5.1 | The
                                         Target is not currently party to a legally binding agreement under which it has factored,
                                         sold or discounted any of its debts.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.5.2 | The
                                         Target is not currently legally bound by an agreement under which it has granted credit
                                         terms exceeding 120 days to its creditors.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.6 | Insurance
| | --- | ---------



| | 4.6.1 | A
                                         list of all current insurance policies in respect of which the Target has a current interest
                                         is annexed to the Disclosure Letter (the “Policies”). Such list is
                                         complete and accurate in all material respects.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





48







| | 4.6.2 | All
                                         premiums in respect of the Policies have been duly paid to date and, so far as the Parent
                                         is aware, the Policies are in force and not voidable.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4.6.3 | A
                                         list of all material claims outstanding under the Policies as at the Completion Date
                                         is annexed to the Disclosure Letter and, so far as the Parent is aware, such list is
                                         complete and accurate.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 5. | LPR
                                         ASSETS
| | -- | ---------------------------------------------------



| | 5.1 | Immediately
                                         prior to Completion, the LPR Assets were legally and beneficially owned by the Parent
                                         free from all Encumbrances. The Parent is not a party to any transaction pursuant to
                                         or as a result of which any of the LPR Assets is liable to be transferred to another
                                         person. As far as the Parent is aware, upon Completion the Purchaser will become the
                                         legal and beneficial owner of the LPR Assets, free from all Encumbrances.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 5.2 | The
                                         LPR Assets are the only assets that are currently used in the Business but not owned
                                         by the Target.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 6. | LIABILITIES
| | -- | -----------



| | 6.1 | Facilities
| | --- | ----------



Details
of all overdrafts, loans or other financial facilities currently outstanding or available to the Target (other than trade indebtedness)
are contained in the Disclosure Letter and, so far as the Parent is aware, nothing has been done or omitted to be done whereby
the continuance of any such facilities in full force and effect will be prejudiced (save where the prepayment of such facilities
is expressly provided for in the Transaction Documents).



| | 6.2 | Liabilities
                                         since Accounts Date
| | --- | ------------------------------------------------------------------------



Except
as set forth in the Accounts, there are no liabilities of the Target other than liabilities incurred in the ordinary course of
business after the Accounts Date.



| | 6.3 | Guarantees
                                         and indemnities
| | --- | -------------------------------------------------------------------



There
is not outstanding any guarantee, indemnity, security, bond, letter of comfort or other similar obligation given by or for the
benefit of the Target.



| | 6.4 | Events
                                         of default
| | --- | ----------------------------------------------------------



No
written notice (which is still current) has been received by the Target to the effect that the Target is in material default under
the terms of any borrowing made by it.



| | 6.5 | Reorganisation
| | --- | --------------



Except
for the Transaction Documents and the documents to be delivered to the Purchaser pursuant to paragraph 1.1(b)(viii) of Schedule
3, there are no other agreements or documents relating to the Reorganisation or otherwise providing for the transfer of assets
from or liabilities to the Target and entered into with the Seller or any of its Affiliates (other than the Target) in the six
(6) months preceding the Completion Date.





49







| | 7. | TRADING
                                         ARRANGEMENTS
| | -- | -------------------------------------------------------------



| | 7.1 | Contracts
| | --- | ---------



| | 7.1.1 | During
                                         the last six months, no Material Supplier has ceased supplying the Target nor during
                                         the last six months has any Material Supplier notified the Target in writing that it
                                         will either cease supplying the Target or materially reduce its supplies to the Target
                                         or materially increase its prices.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.2 | During
                                         the last six months, no Material Customer has ceased trading with the Target nor during
                                         the last six months has any Material Customer notified the Target in writing that it
                                         will either cease trading with the Target or materially reduce its trade with the Target.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.3 | Materially
                                         complete and accurate copies of all Material Contracts have been disclosed to the Purchaser.
                                         The Material Contracts are the only agreements that are material to the business of the
                                         Target and the Business as it is currently conducted.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 7.4 | The
                                         Target is not in breach of any Material Contract as at the date of this Agreement.
| | --- | -------------------------------------------------------------------------------------------------------------------------------



| | 8. | COMPLIANCE
                                         AND LITIGATION
| | -- | ------------------------------------------------------------------



| | 8.1 | Compliance
                                         with statutes
| | --- | -----------------------------------------------------------------



| | 8.1.1 | During
                                         the last three years the Target has complied, and currently complies, in all material
                                         respects with all applicable statutes and regulations of the United Kingdom and any foreign
                                         jurisdiction in which the Business is carried on, non-compliance with which would have
                                         a more than immaterial effect upon the Target or the Business.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 8.1.2 | The
                                         Target has in its possession or under its direct or indirect control all material documentation
                                         required by law to be disclosed to a regulator with authority over the Target in connection
                                         with the manufacture, storage or testing of goods manufactured and supplied by the Target.
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 8.2 | Licences
                                         and consents
| | --- | --------------------------------------------------------------



| | 8.2.1 | Other
                                         than in respect of Intellectual Property Rights and/or the Properties, the Disclosure
                                         Letter includes details of all material licences, consents, approvals, permissions, permits,
                                         certificates, qualifications, registrations and other authorisations (public and private)
                                         legally required for the operation of the Business in the places and in the manner in
                                         which the Business is now carried on (together the “Material Consents”).
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 8.2.2 | The
                                         Target has all Material Consents and all such Material Consents are in full force and
                                         effect and have been complied with in all material respects.
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 8.3 | Litigation
| | --- | ----------



| | 8.3.1 | Apart
                                         from debt collection in the normal course of trading, the Target is not involved in any
                                         ongoing material civil, criminal, arbitration or administrative proceedings in the UK
                                         or any other jurisdiction (“Proceedings”).
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





50







| | 8.3.2 | None
                                         of the Target, the Vendor or the Parent has received written notice that any Proceedings
                                         are currently pending against the Target.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 9. | INTELLECTUAL
                                         PROPERTY AND INFORMATION TECHNOLOGY
| | -- | -----------------------------------------------------------------------------------------



| | 9.1 | Material
                                         intellectual property rights
| | --- | ------------------------------------------------------------------------------



| | 9.1.1 | The
                                         LPR IP constitutes all material Intellectual Property Rights (and applications for such
                                         rights) which were owned by the Target, the Parent or any Vendor Group Company immediately
                                         prior to Completion and which primarily relate to the Business.
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 9.1.2 | None
                                         of the Target, the Parent or any Vendor Group Company has received written notice to
                                         indicate that any of the LPR IP is being challenged or attacked by any third party or
                                         by any relevant registry and all fees due and payable in respect of the LPR IP have been
                                         paid.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 9.2 | IPR
                                         Agreements
| | --- | -------------------------------------------------------



| | 9.2.1 | Details
                                         of all IPR Agreements which are material to the Business have been disclosed to the Purchaser.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------



| | 9.2.2 | So
                                         far as the Parent is aware, no party to any IPR Agreement which is material to the Business
                                         is in material default and none of the Target, the Parent or any member of the Vendor
                                         Group has been notified in writing of any material disputes relating to or arising out
                                         of any IPR Agreement which is material to the Business.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 9.3 | Infringements
| | --- | -------------



| | 9.3.1 | So
                                         far as the Parent is aware, none of the LPR IP is being infringed.
| | ----- | --------------------------------------------------------------------------------------------------------------



| | 9.3.2 | None
                                         of the Target, or any member of the Vendor Group have received written notice to indicate
                                         that the Target or (to the extent that the alleged infringement relates to the Business)
                                         any member of the Vendor Group is currently infringing any Intellectual Property Rights
                                         of any other person.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 9.4 | Confidential
                                         Information                                                                                                                                                                                                                                                                                   
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |     |                                                                                                                                                                                                                                                                                                                                                     
| |     | So
far as the Parent is aware, all Confidential Information material to the Business has been kept confidential by the Parent, the
Target and all other members of the Vendor Group and has not been disclosed otherwise than in the ordinary course of business
subject to an obligation of confidentiality on the person to whom it was disclosed.



| | 9.5 | Information
                                         Technology
| | --- | ---------------------------------------------------------------



| | 9.5.1 | The
                                         IT Systems are in satisfactory working order in all material respects and there has not
                                         been a failure of the IT Systems during the two years prior to the date hereof which
                                         had a materially disruptive effect on the Target’s ability to carry on its business
                                         in the ordinary course of trading for a significant period of time.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 9.5.2 | The
                                         IT Systems are the only IT systems that are required in order to operate the Business
                                         as currently operated.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



51









| | 10. | OFFICERS
                                         AND EMPLOYEES
| | --- | ---------------------------------------------------------------



| | 10.1 | Particulars
| | ---- | -----------



| | 10.1.1 | The
                                         persons named as such in Schedule 1 are the only persons currently appointed to the board
                                         of directors of the Target.
| | ------ | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.1.2 | The
                                         particulars shown in the schedule of employees annexed to the Disclosure Letter discloses,
                                         in relation to the employees (or, where appropriate, to each category of employee) of
                                         the Target (the “Employees”) their job title or job function, salary
                                         and notice period.
| | ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.1.3 | The
                                         Target is not under a legal obligation to make any future change in the remuneration
                                         or benefits of any of the Employees other than salary or wage increases in the ordinary
                                         course of business.
| | ------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10.1.4 | No
                                         Employee will become entitled to receive a payment by virtue of Completion of this Agreement.
| | ------ | -----------------------------------------------------------------------------------------------------------------------------------------



| | 10.2 | Compliance
| | ---- | ----------



The
Target has complied in all material respects with all its statutory obligations to or in respect of the Employees arising out
of their terms and conditions of employment and no amount due to or in respect of any Employee is in arrear and unpaid other than
salary and expenses for the month current at the date of this Agreement.



| | 10.3 | Notice
| | ---- | ------



No
Employee has given written notice to his employing Target to terminate his contract of employment or is under written notice of
dismissal.



| | 11. | PENSIONS
| | --- | --------



| | 11.1 | In
                                         this paragraph 11:
| | ---- | --------------------------------------------------------------



“Relevant
Benefits” means any benefits that are provided under a pension scheme (as defined in section 150(1) Finance Act 2004).



“Relevant
Person” means any past or present employee, officer or director of the Target.



| | 11.2 | Save
                                         as specifically set out in the Disclosure Letter, the Target is not a party to, or participates
                                         in or contributes to any scheme, agreement or arrangement for the provision of any Relevant
                                         Benefits for or in respect of any Relevant Person.
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 11.3 | All
                                         contributions and other amounts which have fallen due for payment by the Target have
                                         been paid.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 11.4 | Details
                                         of the benefits payable in respect of the employees on their death in service or incapacity
                                         have been provided to the Purchaser; all lump sum benefits payable in the event of death
                                         and incapacity benefits are insured, and all premiums payable under such insurance contracts
                                         have been paid.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





52









| | 11.5 | The
                                         Target has complied with the applicable requirements of the Welfare Reform and Pensions
                                         Act 1999 relating to the provision of stakeholder pensions.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 12. | PROPERTY
| | --- | --------



| | 12.1 | Interpretation
| | ---- | --------------



In
this Paragraph 12:



| | (a) | each
                                         Warranty which is expressed to be given in relation to the “Property”
                                         shall be deemed to be given in relation to each of the Properties as if it had been repeated
                                         with respect to each of the Properties and each and every part of it; and
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | reference
                                         to the “Owner” shall, where the context so admits, be a reference
                                         to the Target which is the owner of the relevant Property as shown in Schedule 8.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 12.2 | Warranties
| | ---- | ----------



Schedule
8 contains a complete and accurate list of the properties owned, controlled, used or occupied by the Target and the information
given in Schedule 8 is accurate.



| | 13. | ENVIRONMENT
                                         HEALTH & SAFETY
| | --- | --------------------------------------------------------------------



| | 13.1 | In
                                         this Paragraph 13:
| | ---- | --------------------------------------------------------------



“Dangerous
Substance” means any natural or artificial substance (alone or in combination) likely to cause significant damage to
the Environment;



“Environment”
means any or all of the following media (alone or in combination): air, water, soil and/or ecosystem;



“EHS
Law” means all statutes and regulations concerning the protection of the Environment or the spillage, treatment or disposal
of a Dangerous Substance or health and safety at work (excluding any statutes or regulations which relate to town and country
planning) which are in force as at the date of this Agreement and which are applicable to and legally binding upon the Target;



“EHS
Licences” means any permit, licence, authorisation, consent or other approval required under EHS Law;



“Regulatory
Authority” means any governmental authority, agency or department having authority under, or jurisdiction in respect
of, any EHS Law.



| | 13.2 | The
                                         Target has all EHS Licences which are material to and necessary for its business as at
                                         the date of this Agreement.
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 13.3 | The
                                         Target is in material compliance with EHS Law.
| | ---- | -------------------------------------------------------------------------------------------



| | 13.4 | There
                                         are currently no formal legal proceedings relating to a breach of EHS Law currently being
                                         brought (or, as far as the Parent is aware, threatened to be brought) by a Regulatory
                                         Authority against the Target.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





53







| | 14. | OBLIGATIONS
                                         TOWARDS THE Parent and the Vendor
| | --- | --------------------------------------------------------------------------------------



As
of Completion, there are no liabilities or contracts between the Target on the one hand, and the Parent or the Vendor or their
respective Affiliates (other than the Target) on the other hand.





54







Part
C - Tax Warranties



| | 1. | Tax
| | -- | ---



| | 1.1 | Fundamental
                                         Tax Warranties
| | --- | -------------------------------------------------------------------



| | 1.1.1 | Provision
                                         or reserve (as appropriate) has been made in the Accounts in accordance with generally
                                         accepted accounting practice for all Tax, including deferred tax, liable to be assessed
                                         on the Target or for which the Target is accountable in respect of all income, profits
                                         or gains earned, accrued or received on or before the Accounts Date or deemed to have
                                         been or treated for Taxation purposes as earned, accrued or received on or before the
                                         Accounts Date, and in respect of any act, omission, transaction or other event occurring
                                         or deemed to have occurred on or before the Accounts Date.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.1.2 | No
                                         Tax has, may have arisen or will arise to the Target (or would arise or have arisen but
                                         for the use of any available reliefs) in respect of or in connection with any income,
                                         profits or gains earned, accrued or received since the Accounts Date and on or before
                                         Completion or deemed to have been or treated for Taxation purposes as earned, accrued
                                         or received since the Accounts Date and on or before Completion or in respect of or in
                                         connection with any act, omission, transaction or other event occurring or deemed to
                                         have occurred since the Accounts Date and on or before Completion, other than in respect
                                         of normal trading income arising in the ordinary course of the Target’s business.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.1.3 | The
                                         Target is not, and will not become in respect of periods, part periods or events falling
                                         or occurring on or before Completion, liable to pay, or to pay any amount in respect
                                         of or make reimbursement or indemnity in respect of, any Tax (or amounts corresponding
                                         to any Tax) which is primarily chargeable on or attributable to any other person. The
                                         Target is not liable as an agent, permanent establishment or prescribed person for any
                                         Tax liability of another person.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.1.4 | The
                                         Target has properly paid all Tax prior to Completion which it has become liable to pay
                                         prior to Completion.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.1.5 | No
                                         charge to Tax will arise on the Target as a result of entry into or completion of this
                                         Agreement.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.2 | General
| | --- | -------



| | 1.2.1 | The
                                         Target is not and has not been party to, any transaction or arrangement under which it
                                         may be or has been required to compute its profits or losses for tax purposes as if arm’s
                                         length terms had been made or imposed instead of the actual terms, or otherwise to make
                                         any adjustment for tax purposes to the terms on which the transaction or arrangement
                                         took place. The Target has sufficient information and records to enable it to comply
                                         with, or establish that it is not subject to the operation of Part 4 TIOPA 2010 or any
                                         similar legislation in any jurisdiction outside the United Kingdom.
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.2.2 | The
                                         Target is not and has never been a close company within the meaning of section 439 CTA
                                         2010.
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





55







| | 1.2.3 | All
                                         payments by the Target to any person which ought to have been made under deduction or
                                         withholding of Tax have been so made and the Tax so deducted or withheld has been properly
                                         and punctually accounted to the relevant Taxation Authority.
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.3 | Returns
                                         and compliance
| | --- | ---------------------------------------------------------------



| | 1.3.1 | The
                                         Target has made all returns required for Tax purposes and none of such returns is being
                                         or, so far as the Parent is aware, will be disputed by HMRC or other Taxation Authority.
| | ----- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.3.2 | The
                                         Target has prepared, kept and preserved full, sufficient, accurate and up-to-date records
                                         to enable it to make and complete returns for Tax purposes and to calculate the liability
                                         to Tax or the amount of a relief arising on the disposal of any asset owned at the Accounts
                                         Date or acquired since the Accounts Date but before Completion and otherwise as required
                                         by Law.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.3.3 | Neither
                                         the Target, nor any of its directors or officers in their capacity as such, have within
                                         the last six (6) years paid or become liable to pay, nor are there any circumstances
                                         which may cause any of them to become liable to pay, any penalty, fine, surcharge or
                                         interest in connection with Tax.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.3.4 | No
                                         Taxation Authority has agreed to operate any special arrangement (being an arrangement
                                         which is not based on a strict and detailed application of the relevant legislation,
                                         statements of practice or published extra-statutory concessions) in relation to the Target’s
                                         affairs.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.3.5 | The
                                         Target is not involved in any dispute with any Taxation Authority and has not within
                                         the last six (6) years been subject to any visit, audit, investigation, discovery or
                                         access order by any Taxation Authority. The Parent is not aware of any circumstances
                                         existing which make it likely that a visit, audit, investigation, discovery or access
                                         order will be made.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.4 | VAT
| | --- | ---



| | 1.4.1 | The
                                         Target has, throughout the whole of the period beginning three years before the Accounts
                                         Date and ending on the date hereof, been registered and been eligible to be registered
                                         and is a taxable person for the purposes of the VATA 1994 and such registration is not
                                         subject to any conditions imposed by or agreed with any Taxation Authority. The Target
                                         has never been a member of a group of companies for the purposes of sections 43 to 43C
                                         VATA 1994.
| | ----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.4.2 | The
                                         Target has complied with all Laws relating to VAT, has made and accounted for all payments
                                         of VAT due from it, has made and delivered all required VAT returns to applicable Taxation
                                         Authorities, is not liable to pay any penalties for non-payment of VAT and has not been
                                         required to give security in respect of VAT.
| | ----- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.4.3 | The
                                         Target does not owns any assets which are capital items subject to the capital goods
                                         scheme under Part XV of the Value Added Tax Regulations 1995, nor has exercised any option
                                         to tax under Part 1 of Schedule 10 to VATA 1994.
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.5 | Groups
                                         of companies
| | --- | ------------------------------------------------------------



| | 1.5.1 | Save
                                         as expressly set out in the Disclosure Letter, there are no claims to or surrenders of
                                         group relief (within the meaning of Part 5 CTA 2010) by or to the Target which have yet
                                         to be finally agreed or determined, and no payments for group relief (within the meaning
                                         of
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





56







| | Part 5 CTA 2010) by or to the Target which remain outstanding or could be reduced
                                         or increased.
| | ----------------------------------------------------------------------------------------------------------------------------------------



| | 1.5.2 | The
                                         Target is not, and has not within the last six years been, party to any such arrangement
                                         as is mentioned in section 36 Finance Act 1998 (group payment arrangements).
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.6 | Employees
| | --- | ---------



| | 1.6.1 | The
                                         Target has complied fully with its legal obligations relating to PAYE and National Insurance
                                         contributions and any similar amounts payable to a Taxation Authority outside the United
                                         Kingdom.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.6.2 | No
                                         Tax has arisen or is likely to arise to the Target as a result of any person acquiring,
                                         holding or disposing of shares or securities or an interest in shares or securities where
                                         the right or opportunity to acquire the same is or was available by reason of employment.
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.6.3 | No
                                         relevant step (within the meaning of Part 7A ITEPA 2003) has been taken in pursuance
                                         of, or in connection with, arrangements concerned with the position of rewards or recognition
                                         or loans in connection with any employee or former employee (or any associate of such
                                         persons) of the Target.
| | ----- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.6.4 | Any
                                         amounts paid by the Target to, or for the direct or indirect benefit of, a person who
                                         is or who may be regarded by any Taxation Authority as an employee of the Target, or
                                         who would be regarded as such an employee but for the involvement of an intermediary
                                         company, has been made to that person directly and not to any company or other entity
                                         associated with that person.
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.6.5 | No
                                         Tax has arisen or is likely to arise to the Target by reason of any legal provision relating
                                         to managed service companies (as defined in section 61B ITEPA 2003).
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.7 | Stamp
                                         taxes
| | --- | ----------------------------------------------------



There
is no document or instrument to which the Target is a party, or which is necessary to establish the Target’s rights in,
or title to, any asset, which is or could become liable to stamp duty (or any similar duty or tax in a jurisdiction outside the
United Kingdom) which has not been duly stamped or in respect of which the relevant duty or Tax has not been paid.



| | 1.8 | International
| | --- | -------------



The
Target was incorporated in, and is and always has been resident only in, its country of incorporation for Tax purposes and for
the purposes of any double taxation agreement. The Target is not liable for, and has at no time incurred any, Tax in any jurisdiction
other than its jurisdiction of incorporation.



57









SCHEDULE
5



Limitations



| | 1. | Maximum
                                         Liability
| | -- | ----------------------------------------------------------



| | 1.1 | Subject
                                         to the provisions of paragraph 1.2 below, the total aggregate liability of the Parent
                                         and the Vendor in respect of any breach of, or claim under, this Agreement (other than
                                         claims for a price adjustment under clause 7, to which the limitation set out in clause
                                         7.3.2 shall apply) shall not exceed a sum equal to 10% of the Price; and
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 1.2 | Notwithstanding
                                         the provisions of paragraph 1.1 above, the total aggregate liability of the Parent in
                                         respect of any breach of, or claim under, any of the Fundamental Warranties (excluding
                                         the Fundamental Tax Warranties) shall not exceed a sum equal to the Price.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2. | Sole
                                         Recourse to Escrow
| | -- | ----------------------------------------------------------------



The
total aggregate liability of the Parent and, where applicable, the Vendor in respect of any claim arising under this Agreement
shall be limited in accordance with clause 6.1.2 (other than claims for a price adjustment under clause 7, to which the provisions
of clause 7.3 shall apply).



| | 3. | Warranty
                                         Claim Thresholds
| | -- | ------------------------------------------------------------------



| | 3.1 | The
                                         Parent shall have no liability in respect of a Warranty Claim unless:
| | --- | ------------------------------------------------------------------------------------------------------------------



| | (a) | the
                                         liability under this Agreement in respect of that Warranty Claim (when aggregated with
                                         the liabilities in respect of all other Warranty Claims concerning the same or substantially
                                         similar subject matter) exceeds $5,000, in which case the Purchaser shall be entitled
                                         to claim the whole of such sum and not merely the excess; and
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | the
                                         aggregate liability under this Agreement of all Warranty Claims (excluding any for which
                                         liability is excluded by clause 15.3.1(a)) exceeds $25,000, in which case the Purchaser
                                         shall be entitled to claim the excess over $25,000 only.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 3.2 | For
                                         the purpose of paragraph 3.1 above, the liability in respect of a Warranty Claim under
                                         this Agreement shall exclude any liability for costs, expenses and interest incurred
                                         in investigating and pursuing such Warranty Claim.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4. | Time
                                         limits
| | -- | ----------------------------------------------------



| | 4.1 | The
                                         Parent shall have no liability in respect of a Warranty Claim (other than a claim for
                                         a breach of any Fundamental Warranty) unless the Purchaser shall have given notice in
                                         writing to the Parent of such Warranty Claim specifying (in reasonable detail in so far
                                         as is known to the Purchaser) the matter which gives rise to the claim, the nature of
                                         the claim and the estimated amount claimed in respect thereof (including details of the
                                         Purchaser’s calculation of such estimated amount), such notice to be given not
                                         later than the date 12 months after the Completion Date.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





58







| | 4.2 | Save
                                         as may be expressly agreed in writing to the contrary on a case-by-case basis by the
                                         Purchaser and the Parent, all liability in respect of a Warranty Claim notified to the
                                         Parent in accordance with paragraph 4.1 above shall (if such Warranty Claim has not previously
                                         been satisfied, settled or withdrawn) be extinguished on the expiry of six months from
                                         the date of such notification of the Warranty Claim unless the Purchaser shall within
                                         such period have issued and validly served legal proceedings in respect of such Warranty
                                         Claim on the Parent.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 5. | Matters
                                         reflected in the Accounts
| | -- | --------------------------------------------------------------------------



| | 5.1 | Allowances,
                                         provisions and reserves
| | --- | ----------------------------------------------------------------------------



The
Parent shall not be liable in respect of a Warranty Claim to the extent that allowance, provision or reserve in respect of the
matter giving rise to the Warranty Claim or a specific category of such matters is explicitly made in the Accounts or in the Completion
Statement or such matter is otherwise taken explicitly into account or reflected in the preparation of the Accounts or of the
Completion Statement.



| | 5.2 | Excess
                                         provisions, overvalues, undervalues and written-off amounts
| | --- | -----------------------------------------------------------------------------------------------------------



| | 5.2.1 | If
                                         and to the extent that:
| | ----- | -------------------------------------------------------------------



| | (a) | the
                                         amount of any allowance, provision or reserve other than any provision or reserve for
                                         deferred Taxation made in the Accounts or in the Completion Statement or otherwise taken
                                         into account or reflected therein is found to be in excess of the matter for which such
                                         allowance, provision or reserve was made;
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | any
                                         asset is found to have been included at an undervalue in the Accounts or in the Completion
                                         Statement or any liability is found to have been included at an overvalue in Accounts
                                         or in the Completion Statement; or
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | any
                                         sum is received by the Target which has previously been written off as irrecoverable
                                         in the accounts (and accordingly not included as an asset in the Accounts or in the Completion
                                         Statement),
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



then
the amount of any such excess, undervalue, overvalue or receipt as the case may be (the “Excess Amount”) shall
be credited against and applied in relieving any liability for which the Parent may otherwise be liable in respect of any Warranty
Claims.



| | 5.2.2 | The
                                         Parent shall not be liable for any Warranty Claim to the extent that any allowance, provision
                                         or reserve made in the Accounts or in the Completion Statement in respect of the fact,
                                         matter, event or circumstance giving rise to such claim is insufficient by reason of
                                         any change to legislation, any increase in rates of Taxation or any change in the published
                                         practice of a Tax Authority, in each case made on and/or after Completion with retrospective
                                         effect.
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 6. | Changes
                                         of Law
| | -- | -------------------------------------------------------



The
Parent shall have no liability in respect of any Warranty Claim to the extent that it arises or is increased as a result of any
change in Law (or change in the interpretation of Law) or in





59







administrative practice of any Authority occurring after the date
of this Agreement (whether or not the change purports to be effective retrospectively in whole or in part).



| | 7. | Accounting
                                         bases etc.
| | -- | --------------------------------------------------------------



The
Parent shall not be liable in respect of any Warranty Claim to the extent that it arises or is increased as a result of any change
after Completion in the accounting bases, policies, practices or methods applied in preparing any accounts or valuing any assets
or liabilities of the Target from those used in preparing the Accounts.



| | 8. | Acts
                                         of Purchaser
| | -- | ----------------------------------------------------------



| | 8.1 | The
                                         Parent shall not be liable in respect of a Warranty Claim to the extent such liability
                                         is attributable to:
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | any
                                         act, omission or transaction carried out on or after Completion by or at the request
                                         of or with the consent of the Purchaser or any of its Affiliates;
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | any
                                         cessation of, or any material change in, the nature or conduct of any business carried
                                         on by the Purchaser or the Target, occurring on and/or after Completion (other than as
                                         a means of mitigating a Loss);
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (c) | the
                                         making of a claim, election, surrender or disclaimer or the giving of a notice or consent
                                         after Completion by the Purchaser or any member of the Enlarged Group or any other person
                                         connected with any of them (unless any provision or reserve for Taxation in the Accounts
                                         is computed on the basis that such action will be taken);
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (d) | anything
                                         expressly provided to be done or omitted to be done pursuant to this Agreement or any
                                         other Transaction Document; or
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (e) | anything
                                         done before Completion at the request of the Purchaser or any of its then Affiliates.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------



| | 8.2 | The
                                         Parent shall not be liable in respect of a Warranty Claim under Tax Warranties to the
                                         extent such liability is attributable to or is increased as a result of a voluntary act,
                                         transaction or omission carried out by the Purchaser, the Target or entity connected
                                         with the Purchaser after Completion being an act which:
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (a) | is
                                         not in the ordinary course of business of the Target as such business was conducted at
                                         Completion; and
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | the
                                         Target was not legally committed to do under a commitment that existed on or before Completion.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------



| | 9. | Covered
                                         Losses
| | -- | -------------------------------------------------------



| | 9.1 | The
                                         Parent shall not be liable in respect of any Warranty Claim to the extent that the claim
                                         relates to a Covered Loss.
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 9.2 | A
                                         “Covered Loss” means:
| | --- | ----------------------------------------------------------------





60







| | (a) | any
                                         Loss which is covered by a policy of insurance in force for the benefit of the Target
                                         at Completion and payment is made under such policy, less all reasonable costs, charges
                                         and expenses incurred in effecting recovery including for the avoidance of doubt any
                                         additional costs, charges or expenses (including any increase in premium) relevant to
                                         the ongoing provision of any such policy of insurance as are occasioned by reason of
                                         the making of such claim or claims to recovery; and
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | (b) | any
                                         Loss in respect of which the Purchaser or any member of the Enlarged Group has received
                                         compensation from any person (whether under any provision of law, contract or otherwise
                                         howsoever) other than from any Vendor Group Company under this Agreement or other Transaction
                                         Documents.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 10. | Subsequent
                                         recovery
| | --- | ------------------------------------------------------------



If
the Purchaser recovers an amount from the Parent in respect of any Warranty Claim and the Purchaser or any member of the Enlarged
Group subsequently recovers or receives from any other person any amount or benefit in respect of the matter giving rise to the
Warranty Claim, the Purchaser shall thereupon re-pay to the Parent at the direction of the Parent the value of the amount or benefit
so recovered or received (except to any extent that the liability of the Parent in respect of the Warranty Claim was previously
reduced to take account of such amount or benefit). Any amount so re-paid to the Parent shall be apportioned between them pro-rata
as to their respective contributions to the original payment to the Purchaser in respect of the Warranty Claim.



| | 11. | Related
                                         benefits
| | --- | ---------------------------------------------------------



In
assessing any damages or other amounts payable in respect of a Warranty Claim there shall be taken into account any related savings
or other net benefits which are actually enjoyed by any member of the Enlarged Group. In assessing any damages or other amounts
payable in respect of a Warranty Claim that relates to Tax there shall be taken into account any Relief arising from the Tax that
is the subject of such Warranty Claim.



| | 12. | Contingent
                                         and non-quantifiable liabilities
| | --- | ------------------------------------------------------------------------------------



The
Parent shall not be liable in respect of any Warranty Claim to the extent that it relates to a liability which is contingent or
not capable of being quantified unless and until the liability ceases to be contingent or becomes capable of being quantified,
as the case may be, save that, where notice of such a Warranty Claim has been given to the Parent in accordance with paragraph
4.1 of this Schedule 5, and therein expressly identified as being a contingent and/or claim which is then incapable of being quantified,
then the applicable time period for the commencement of legal proceedings in respect of such Warranty Claim under paragraph 4.2
of this Schedule 5 shall be postponed so as to thereafter commence on the date on which such Warranty Claim first ceases to be
so contingent and is reasonably capable of being quantified (provided always that legal proceedings in respect of such Warranty
Claim are in any event commenced no later than 18 months after the date of Completion).



| | 13. | No
                                         recovery for Consequential Loss
| | --- | ---------------------------------------------------------------------------



The
Parent shall not be liable in respect of any Warranty Claim for any Consequential Loss.





61







| | 14. | Purchaser’s
                                         knowledge
| | --- | --------------------------------------------------------------



The
Parent shall not be liable in respect of any Warranty Claim to the extent that the Purchaser or any of its Affiliates (or any
of the officers or employees of any of the foregoing) actually knew (with sufficient detail so as to be reasonably able to identify
the nature and scope of the relevant matters) of the matters giving rise to the claim at the date of this Agreement.



| | 15. | Mitigation
| | --- | ----------



The
Purchaser shall take (and shall procure that all other relevant members of the Enlarged Group shall take) all reasonable steps
to mitigate any loss or liability which is or might become the subject of a Warranty Claim (including utilizing any Relief that
is available to the Company to reduce any Tax that is the subject of such Warranty Claim).



| | 16. | No
                                         duplication of recovery
| | --- | -------------------------------------------------------------------



| | 16.1 | The
                                         Parent shall not be liable in respect of any Warranty Claim to the extent the Purchaser
                                         or member of the Enlarged Group has already recovered or received from any other person
                                         any amount or benefit in respect of the matter giving rise to the Warranty Claim.
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 16.2 | The
                                         Purchaser shall not be entitled to recover damages or otherwise obtain reimbursement
                                         or restitution more than once in respect of the same Loss.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





62







SCHEDULE
6 *



Completion
Statement



Part
A - Pro-Forma Completion Statement










* The information in this Schedule
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with
respect to this information.



63







Part
B - Estimated Completion Statement





64







Part
C - Completion Statement accounting policies



65









SCHEDULE
7 *



2013
Audited Accounts



[attached
behind this page]










* The information in this Schedule
has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with
respect to this information.





66







Schedule
8



Real
Properties



Part
A - Owned Properties



None



Part
B - Leased Properties



|Property
    address                                                   | Landlord                                                                                                                                                | Details
    of lease                                                                              
|---------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------
|Unit
    4, Caxton Place, Caxton Way, Stevenage, Hertfordshire SG1 2UG | Geoghegan
    Bros Limited (company number 11466782) whose registered office is at Niall House, 24-26 Boulton Road, Stevange, Hertfordshire
    SG1 4QX | Lease
    of a whole among Geoghegan Bros Limited, the Target and the Parent dated 5 November 2014





67







SCHEDULE
9 *



LPR
Assets



Part
A - LPR Accounts Receivable








* The information in this Schedule has
been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect
to this information.





68







Part
B - LPR Inventory





69







Part
C - LPR IP



PATENTS





70







REGISTERED
DESIGNS





71







TRADE
MARKS



Registered
Trade Marks



72







Unregistered
Trade Marks



73







DOMAIN
NAMES





74







Part
D - Customer List and Non-Compete



75









SIGNATURE
PAGE TO SALE AND PURCHASE AGREEMENT



IN
WITNESS THIS DEED has been executed by the Parties and is intended to be and is delivered on the date appearing on its first
page.





|EXECUTEDas aDEEDbyTAGMASTER AKTIEBOLAG |  |                                 
|-------------------------------------- |  | --------------------------------
|                                       |  | /s/ Jonas Svensson              
|acting by its duly authorised officer  |  |                                 
|                                       |  |                                 
|                                       |  | signature of authorised officer 
|                                       |  |                                 
|                                       |  | Jonas Svensson                  
|                                       |  |                                 
|                                       |  |                                 
|                                       |  | Print name of authorised officer
|                                       |  |                                 
|in the presence of:                    |  |                                 
|                                       |  | /s/ Anders Moberg               
|                                       |  |                                 
|                                       |  |                                 
|                                       |  | Signature of witness            
|                                       |  |                                 
|                                       |  | Anders Moberg                   
|                                       |  |                                 
|                                       |  |                                 
|                                       |  | Print name of witness           
|                                       |  |                                 
|                                       |  | Address of witness:             
|                                       |  |                                 
|                                       |  | *                               
|                                       |  |                                 
|                                       |  | *                               
|                                       |  |                                 
|                                       |  | *                               












* The information denoted with an asterisk
has been omitted and field separately with the Securities and Exchange Commission. Confidential treatment has been requested with
respect to this information.





76











|EXECUTEDas aDEEDby                    |                                             
|------------------------------------- | --------------------------------------------
|                                      |                                             
|IMAGE SENSING SYSTEMS, INC.           | /s/ Dale E. Parker                          
|                                      |                                             
|                                      |                                             
|acting by its duly authorised officer | signature of authorised officer             
|                                      |                                             
|                                      | Dale E. Parker                              
|                                      |                                             
|                                      |                                             
|                                      | Print name of authorised officer            
|                                      |                                             
|in the presence of:                   |                                             
|                                      | /s/ Todd C. Slawson                         
|                                      |                                             
|                                      |                                             
|                                      | Signature of witness                        
|                                      |                                             
|                                      | Todd Christopher Slawson                    
|                                      |                                             
|                                      |                                             
|                                      | Print name of witness                       
|                                      |                                             
|                                      | Address of witness:                         
|                                      |                                             
|                                      | 1600 University Ave. W. STE 500             
|                                      |                                             
|                                      |                                             
|                                      | St. Paul, MN  55104-3828                    
|                                      |                                             
|                                      |                                             
|                                      | Director of Finance and Business Development
|                                      |                                             



77









|EXECUTEDas aDEEDby                    |                                             
|------------------------------------- | --------------------------------------------
|                                      |                                             
|IMAGE SENSING SYSTEMS EMEA            | /s/ Dale E. Parker                          
|LIMITED                               |                                             
|                                      |                                             
|                                      | signature of authorised officer             
|acting by its duly authorised officer |                                             
|                                      |                                             
|                                      | Dale E. Parker                              
|                                      |                                             
|                                      |                                             
|                                      | Print name of authorised officer            
|                                      |                                             
|in the presence of:                   | /s/ Todd C. Slawson                         
|                                      |                                             
|                                      |                                             
|                                      | Signature of witness                        
|                                      |                                             
|                                      | Todd Christopher Slawson                    
|                                      |                                             
|                                      |                                             
|                                      | Print name of witness                       
|                                      |                                             
|                                      | Address of witness:                         
|                                      |                                             
|                                      | 1600 University Ave. W. STE 500             
|                                      |                                             
|                                      |                                             
|                                      | St. Paul, MN  55104-3828                    
|                                      |                                             
|                                      |                                             
|                                      | Director of Finance and Business Development
|                                      |                                             



78