Document:

Exhibit 10.1

 

 

 

 

AGREEMENT
AND PLAN OF MERGER AND REORGANIZATION 

 

among:

 

 

Global
Eagle Acquisition Corp.,

a Delaware corporation;

 

 

EAGL
Merger Sub Corp.,

a Delaware corporation;

 

 

Row
44, Inc.,

a Delaware corporation;

 

 

and

 

 

PAR
Investment Partners, L.P.,

a Delaware limited partnership

 

 

___________________________

 

Dated as of November 8, 2012

___________________________

 

 

 

    	 

    	 	

    
 

Table
of Contents

 

Page

 

 

	Section
    1.	Description of The Merger;
    Share Exchange	1
	 	 	 
	1.1	Merger of Merger Sub into the Company	1
	1.2	Effect of the Merger	1
	1.3	Closing; Effective Time	1
	1.4	Certificate of Incorporation and Bylaws; Directors and Officers	2
	1.5	Conversion of Shares	2
	1.6	Closing of the Company’s Transfer Books	4
	1.7	Exchange of Certificates	4
	1.8	Appraisal Shares	5
	1.9	Treatment of Company Options and Company Warrants	6
	1.10	Share Repurchase Right	7
	1.11	Backstop Fee Agreement	7
	1.12	Tax Consequences	7
	1.13	Further Action	7
	1.14	Adjustments to Net Merger Consideration and Merger Shares	7
	1.15	Parent Committee	9
	 	 	 
	Section 2.	Representations and Warranties of the
    Company	9
	 	 	 
	2.1	Organization; Qualification	9
	2.2	Power; Authorization	9
	2.3	Non-Contravention	10
	2.4	Capitalization	10
	2.5	No Violation or Default; Compliance with Legal Requirements	12
	2.6	Brokers or Finders	13
	2.7	Litigation	13
	2.8	Title to Property and Assets	13
	2.9	Intellectual Property	14
	2.10	Disclosure	15
	2.11	Financial Statements; Accounting Controls	15
	2.12	Changes	16
	2.13	Taxes	18
	2.14	Insurance	19
	2.15	Employee Matters	19
	2.16	Related-Party Transactions	23
	2.17	Permits	24
	2.18	Subsidiaries	24
	2.19	Agreements; Actions	24
	2.20	Environmental and Safety Laws	26
	2.21	Exclusive Rights	26
	2.22	Real Property Holding Company	26
	2.23	Records	26
	2.24	Company Stockholder Approval	26

 

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	2.25	Real Property	27
	2.26	Information Supplied	27
	2.27	No Discussions	27
	2.28	Accredited Investors	27
	 	 	 
	Section 3.	Representations and Warranties of Parent
    and Merger Sub	27
	 	 	 
	3.1	Organization; Qualification	27
	3.2	Power; Authorization	28
	3.3	No Conflict; Consents	28
	3.4	Valid Issuance	28
	3.5	Capitalization	28
	3.6	Merger Sub	29
	3.7	SEC Filings; Financial Statements	29
	3.8	Taxes	30
	3.9	No Discussions	30
	3.10	Parent Vote Required	30
	3.11	Trust Account	31
	3.12	Brokers or Finders	32
	 	 	 
	Section 4.	Certain Covenants of the Company and
    Par	32
	 	 	 
	4.1	Access and Investigation	32
	4.2	Company Operations	32
	4.3	Notification; Updates to Schedule of Exceptions	34
	4.4	No Negotiations	34
	4.5	Public Announcements	35
	4.6	Trust Account Waiver	35
	4.7	Notices and Consents	35
	4.8	Company Stockholder Approval	35
	4.9	Certain Company Covenants Related to Proxy Statement and Additional Parent Filings	36
	4.10	Company Penny Warrants	36
	4.11	2011 Equity Incentive Plan	36
	 	 	 
	Section 5.	Certain Covenants of Parent	36
	 	 	 
	5.1	Proxy Statement	36
	5.2	Parent Operations	37
	5.3	Public Announcements	37
	5.4	No Other Transactions	38
	5.5	Indemnification Agreements	38
	5.6	Post-Closing Covenants of Parent	38

 

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	Section
    6.	Covenants of Company and
    Parent	39
	 	 	 
	6.1	Cooperation	39
	6.2	HSR Act	39
	6.3	Updates to Proxy Statement	39
	 	 	 
	Section 7.	Conditions Precedent to Obligations
    of Parent and Merger Sub	39
	 	 	 
	7.1	Accuracy of the Company’s Representations	39
	7.2	Performance of Covenants	40
	7.3	Parent Stockholder Approval	40
	7.4	Required Consents	40
	7.5	Agreements and Documents	40
	7.6	Absence of Material Adverse Effect	41
	7.7	Backstop Agreement	41
	7.8	AIA Transactions	41
	7.9	HSR Act	41
	7.10	No Restraints	41
	7.11	No Legal Proceedings; Bankruptcy	41
	7.12	Appraisal Rights	42
	7.13	Company Stockholder Approval	42
	 	 	 
	Section 8.	Conditions Precedent to Obligations
    of the Company	42
	 	 	 
	8.1	Accuracy of Representations	42
	8.2	Performance of Covenants	42
	8.3	Share Redemptions	42
	8.4	Parent Stockholder Approval	42
	8.5	Agreements and Documents	42
	8.6	AIA Transactions	43
	8.7	HSR Act	43
	8.8	No Restraints	43
	8.9	No Legal Proceedings; Bankruptcy	43
	8.10	Trust Account	43
	8.11	Company Stockholder Approval	43
	8.12	Restated Parent Organizational Documents	43
	 	 	 
	Section 9.	Termination	44
	 	 	 
	9.1	Termination Events	44
	9.2	Termination Procedures	45
	9.3	Fees Payable by the Company	45

 

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	9.4	Fees Payable by Parent	45
	9.5	Effect of Termination	45
	 	 	 
	Section 10.	Indemnification, Etc	45
	 	 	 
	10.1	Survival of Representations, Etc	45
	10.2	Indemnification	46
	10.3	Exclusivity of Indemnification Remedies	48
	10.4	No Contribution	48
	10.5	Defense of Third Party Claims	48
	10.6	Claims Relating to Securities	49
	10.7	Security Interest in Escrow	49
	10.8	Release of Escrow Shares to Satisfy Indemnification Claims	50
	10.9	Materiality	50
	10.10	Effect of Investigation	50
	 	 	 
	Section 11.	Miscellaneous Provisions	51
	 	 	 
	11.1	Stockholders’ Agent	51
	11.2	Further Assurances	51
	11.3	Fees and Expenses	52
	11.4	Attorneys’ Fees	52
	11.5	Notices	52
	11.6	Time of the Essence	53
	11.7	Headings	53
	11.8	Counterparts	53
	11.9	Governing Law; Venue	53
	11.10	Successors and Assigns; Assignment	54
	11.11	Remedies Cumulative; Specific Performance	54
	11.12	Waiver	54
	11.13	Amendments	54
	11.14	Severability	54
	11.15	Parties in Interest	55
	11.16	Entire Agreement	55
	11.17	Schedules of Exceptions	55
	11.18	Waiver of Jury Trial	55
	11.19	Release	55
	11.20	Construction	56

 

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	EXHIBITS	 	 
	 	 	 
	Exhibit A	-	Certain Definitions
	Exhibit B	-	Form of Certificate of Merger
	Exhibit C	-	Form of Post-Closing Restated Certificate of Incorporation of Surviving Corporation
	Exhibit D	-	Post-Closing Directors of Parent
	Exhibit E	-	Post-Closing Directors of Surviving Corporation
	Exhibit F	-	Form of Escrow Agreement
	Exhibit G	-	Form of Registration Rights Agreement
	Exhibit H	-	Form of Post-Closing Restated Certificate of Incorporation of Parent
	Exhibit I	-	Form of Post-Closing Restated Bylaws of Parent

 

	LIST OF SCHEDULE OF EXCEPTIONS
	 	 
	Section 2.1	Organization; Qualification
	Section 2.3	Non-Contravention
	Section 2.4(c)	Exercise Price Adjustments
	Section 2.4(e)	Capitalization
	Section 2.4(f)	Table of Company Stockholders
	Section 2.4(g)	Table of Company Optionholders
	Section 2.4(h)	Preemptive Rights
	Section 2.5	No Violation or Default
	Section 2.6	Brokers or Finders
	Section 2.7	Litigation
	Section 2.8	Title to Property and Assets
	Section 2.9(a)	Intellectual Property
	Section 2.9(b)	Intellectual Property Exceptions
	Section 2.11	Financial Statements; Accounting Controls
	Section 2.12	Changes
	Section 2.13	Taxes
	Section 2.14	Insurance
	Section 2.15(a)	Company Plans
	Section 2.15(b)	Certain Company Plans
	Section 2.15(i)	Employees, Consultants and Independent Contractors
	Section 2.15(l)	Certain Employment Arrangements
	Section 2.15(m)	Representations Regarding Equity Incentives
	Section 2.15(o)	Certain Confidentiality Matters
	Section 2.15(p)	Employee Release Matters
	Section 2.15(s)	Labor Disputes
	Section 2.18	Subsidiaries
	Section 2.19	Material Contracts
	Section 2.19(g)	Company Exclusivity Rights

 

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	Section 2.20	Environmental and Safety Laws
	Section 2.25(a)	Leased Real Property
	Section 2.25(b)	Lease Defaults
	Section 7.5	Required Consents
	Section A	Material Terms of Performance Warrant
	 	 
	LIST OF PARENT SCHEDULE OF EXCEPTIONS
	 	 
	Section 3.1	Organization; Qualification
	Section 3.8	Taxes
	Section 3.12	Brokers or Finders
	 	 

 

    	-vi-

    	 

    
 

AGREEMENT AND PLAN

OF MERGER AND REORGANIZATION

 

This
Agreement and Plan of Merger and Reorganization is made and entered into as of November 8, 2012 (the “Execution
Date”), by and among Global Eagle Acquisition Corp., a Delaware
corporation (“Parent”), EAGL Merger Sub Corp., a
Delaware corporation and a direct wholly owned subsidiary of Parent (“Merger Sub”), Row
44, Inc., a Delaware corporation (the “Company”), and PAR Investment Partners, L.P., a Delaware
limited partnership (“PAR”), in its capacity as Stockholders’ Agent and for certain specific purposes
set forth on the signature page hereto.

 

Recitals

 

A.Parent,
Merger Sub and the Company intend to effect a merger of Merger Sub into the Company in accordance with this Agreement and the General
Corporation Law of the State of Delaware (the “DGCL”). Upon consummation of the Merger, Merger Sub will
cease to exist, and the Company will become a wholly owned subsidiary of Parent.

 

B.It is
intended that the Merger qualify as a tax-free reorganization within the meaning of Section 368(a) of the Code.

 

C.This Agreement
has been approved by the respective boards of directors of Parent, Merger Sub and the Company.

 

D.The definitions
of all capitalized terms not otherwise defined in the text of this Agreement are set forth on Exhibit A hereto.

 

Agreement

 

NOW, THEREFORE, in
consideration of the above stated premises, and such other consideration the receipt and sufficiency of which is hereby acknowledged,
the parties to this Agreement agree as follows:

 

		Section
                            1.	Description
of The Merger; Share Exchange.

 

1.1             
Merger of Merger Sub into the Company. Upon the terms and subject to the conditions set forth in this
Agreement, at the Effective Time, Merger Sub shall be merged with and into the Company (the “Merger”),
and the separate existence of Merger Sub shall cease. The Company will continue as the surviving corporation in the Merger (the
“Surviving Corporation”).

 

1.2             
Effect of the Merger. The Merger shall have the effects set forth in this Agreement and in the applicable
provisions of the DGCL.

 

1.3             
Closing; Effective Time. The consummation of the transactions contemplated by this Agreement (the “Closing”)
shall take place at the offices of McDermott Will & Emery, LLP, 340 Madison Avenue, New York, New York 10173, on a date and
at a time to be mutually agreed to by Parent and the Company as soon as practicable, but no later than one (1) business day, after
the satisfaction or waiver of the conditions set forth in Sections 7 and 8. The date on which the Closing actually
takes place is referred to in this Agreement as the “Closing Date.” Contemporaneously with the Closing,
a properly executed certificate of merger conforming to the requirements of the DGCL in the form attached as Exhibit B hereto (the
“Certificate of Merger”) shall be filed with the Secretary of State of the State of Delaware.

 

    	 

    	 	

    
 

1.4             
Certificate of Incorporation and Bylaws; Directors and Officers. Unless otherwise determined by Parent
and the Company prior to the Effective Time:

 

(a)              
the Restated Certificate shall be amended and restated as of the Effective Time in the form set forth on Exhibit C hereto;

 

(b)              
the bylaws of the Surviving Corporation shall be amended and restated as of the Effective Time in a form acceptable
to Parent and the Company;

 

(c)               
the board of directors and executive officers of Parent immediately after the Effective Time (the “Board”)
shall be as set forth on Exhibit D hereto;

 

(d)              
the board of directors of the Surviving Corporation immediately after the Effective Time shall be as set forth on Exhibit
E hereto; and

 

(e)               
the executive officers of the Surviving Corporation immediately after the Effective Time shall be the executive officers
of the Surviving Corporation immediately prior thereto.

 

1.5             
Conversion of Shares.

 

(a)              
Subject to Sections 1.5(c), 1.7 and 1.8, at the Effective Time, by virtue of the Merger and without
any further action on the part of Parent, Merger Sub, the Company or any other Person:

 

(i)                
subject to Section 1.7(e), and except as set forth in Section 1.5(a)(ii), each share of (A) Company Common
Stock outstanding immediately prior to the Effective Time shall be converted into the right to receive that portion of a share
of Parent Common Stock set forth on the Spreadsheet pursuant to Section 1.5(d)(i), and (B) Company Preferred Stock outstanding
immediately prior to the Effective Time shall be converted into the right to receive that portion of a share of Parent Common Stock
set forth on the Spreadsheet pursuant to Section 1.5(d)(ii), in each case as adjusted pursuant to Section 1.14;

 

(ii)              
each share of Company Capital Stock held in the treasury of the Company immediately prior to the Effective Time shall
be cancelled and extinguished, and no other securities of Parent or any other corporation shall be issuable, and no payment or
other consideration shall be made, with respect thereto; and

 

(iii)            
each share of the common stock (par value $0.01 per share) of Merger Sub outstanding immediately prior to the Effective
Time shall be converted into one share of common stock of the Surviving Corporation.

 

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(b)              
At any time or from time to time between the date of this Agreement and the Effective Time, if Parent declares or pays
any dividend on Parent Common Stock payable in Parent Common Stock or in any right to acquire Parent Common Stock, or effects a
subdivision of the outstanding shares of Parent Common Stock into a greater number of shares of Parent Common Stock (by stock dividends,
combinations, splits, recapitalizations and the like), or if the outstanding shares of Parent Common Stock shall be combined or
consolidated, by reclassification or otherwise, into a lesser number of shares of Parent Common Stock, then the Parent Share Price
(including the dollar amounts referred to in the definition of Parent Share Price) and the Share Exchange Ratio shall be appropriately
adjusted.

 

(c)               
No fractional shares of Parent Common Stock shall be issued in connection with the Merger, and no certificates for any
such fractional shares shall be issued. In lieu of such fractional shares, any holder of Company Common Stock who would otherwise
be entitled to receive a fraction of a share of Parent Common Stock shall, upon surrender of such holder’s Company Stock
Certificate(s), be paid in cash the dollar amount (rounded to the nearest whole cent), without interest, determined by multiplying
such fraction by the Parent Share Price.

 

(d)              
As soon as possible, but in any event no later than three (3) business days, prior to the Effective Time, the Company
shall deliver to Parent and the Exchange Agent the Spreadsheet. For purposes of this Agreement, “Spreadsheet”
means a spreadsheet which shall be certified as complete and correct by an officer of the Company, which shall include, as of immediately
prior to the Effective Time: (i) the fraction of a share of Parent Common Stock into which one share of Company Common Stock shall
be converted as a result of the Merger; (ii) for each series of Company Preferred Stock, the fraction of a share of Parent Common
Stock into which one share of such series of Company Preferred Stock shall be converted as a result of the Merger; (iii) the dollar
value of one share of Company Common Stock in connection with the transactions contemplated hereby (the “Implied Merger
Consideration Per Company Common Share”); (iv) (A) the names of all Company Stockholders and their respective addresses,
(B) the number and type of shares of Company Capital Stock held by each Company Stockholder, (C) where applicable, the respective
certificate numbers held by each Company Stockholder, and (D) the number of Closing Total Merger Shares to be paid to each Company
Stockholder at Closing in respect of each type of shares of Company Capital Stock held by such Company Stockholder; (v) (A) the
names of all holders of Company Options and their respective addresses, (B) the number and type of shares of Company Capital Stock
underlying each Company Option held by each such holder, (C) the grant date, expiration date, exercise price per share, vesting
schedule and vested status of each Company Option held by each such holder and (D) the number of Company Option Settlement Shares
issuable with respect to such Company Option in accordance with Section 1.9(a)(i); (vi) (A) the names of all holders of
Company Warrants and their respective addresses; (B) the number and type of shares of Company Capital Stock underlying the Company
Warrants held by each such holder, (C) the grant date, expiration date, exercise price per share, vesting schedule and vested status
of each Company Warrant held by each such holder, (D) the number of shares of Parent Common Stock for which such Company Warrant
shall be exercisable as a result of Section 1.9(b), and (E) the exercise price per share of Parent Common Stock of such
Company Warrant as a result of Section 1.9(b); provided, that all such calculations shall be made in accordance with
(1) Section 2.1 of Article 4B of the Company’s Amended and Restated Certificate of Incorporation dated June 8, 2012 (the
“Restated Certificate”) and (2) the Share Exchange Ratio.

 

    	-3-

    	 

    
 

(e)               
Notwithstanding anything in this Agreement to the contrary, Parent shall not be obligated to issue shares of Parent
Common Stock to any Merger Stockholder or holder of Company Options that Parent, in its sole discretion, does not reasonably believe
is an “accredited investor” within the meaning of Regulation D promulgated by the SEC under the Securities Act (each,
a “Non-Accredited Company Stockholder”) if the issuance of such shares would result in the issuance of
shares by Parent to more than thirty-five (35) Non-Accredited Company Stockholders. In lieu of issuing such number of shares of
Parent Common Stock to which such Non-Accredited Company Stockholder would otherwise be entitled under Sections 1.5(a) (subject,
in all cases, to the exchange procedures set forth in Section 1.7 hereof) or 1.9(a), Parent may, in its sole discretion,
elect to pay to such Non-Accredited Company Stockholder an amount in cash (the “Substitute Cash Amount”)
equal to the product of (i) such number of Closing Net Merger Shares or Company Option Settlement Shares, as the case may be, to
which such Non-Accredited Company Stockholder is entitled under Section 1.5(a) or 1.9(a), and (ii) the Parent Share
Price; provided, that such portion of the Substitute Cash Amount payable to any Merger Stockholder which would otherwise
be treated as Escrow Shares pursuant to Section 1.7(b)(ii) shall be held in escrow by the Escrow Agent pursuant to all terms
applicable to Escrow Shares set forth in this Agreement and the Escrow Agreement.

 

1.6             
Closing of the Company’s Transfer Books. At the Effective Time, holders of certificates representing
shares of Company Capital Stock that were outstanding immediately prior to the Effective Time shall cease to have any rights as
stockholders of the Company, and the stock transfer books of the Company shall be closed with respect to all shares of such Company
Capital Stock outstanding immediately prior to the Effective Time. No further transfer of any such shares of the Company Capital
Stock shall be made on such stock transfer books after the Effective Time. If, after the Effective Time, a Company Stock Certificate
is presented to the Surviving Corporation or Parent, the shares of Company Capital Stock formerly represented by such Company Stock
Certificate shall be canceled and shall be exchanged for shares of Parent Common Stock, as provided in Section 1.5 and 1.7.

 

1.7             
Exchange of Certificates.

 

(a)              
On or prior to the Closing Date, Parent and the Company shall agree upon, select and engage a reputable bank, transfer
agent or trust company to act as exchange agent in the Merger (the “Exchange Agent”). At the Effective
Time, Parent shall deposit with the Exchange Agent stock certificates representing the Closing Net Merger Shares, other than the
Escrow Shares, and the Company Option Settlement Shares.

 

(b)              
At the Closing, each Company Stockholder that does not perfect its right of appraisal under Section 262 of the DGCL
and is otherwise entitled to receive Closing Net Merger Shares pursuant to Section 1.5 of this Agreement (a “Merger
Stockholder”) shall surrender to the Exchange Agent the Company Stock Certificates representing all of such Stockholder’s
shares of Company Common Stock, properly endorsed for transfer, along with a Letter of Transmittal. As soon as practicable
after the Effective Time, the Exchange Agent shall deliver to (i) each Merger Stockholder who has surrendered Company Stock Certificates
representing all of such Merger Stockholder’s shares of the Company Common Stock properly endorsed for transfer, along with
an executed Letter of Transmittal, a certificate representing 90.0% of the number of Closing Net Merger Shares that such Merger
Stockholder otherwise has the right to receive pursuant to the provisions of Section 1.5, and (ii) the Escrow Agent, on
behalf of each Merger Stockholder, a certificate representing 10.0% of the number of whole shares of Parent Common Stock that such
Merger Stockholder otherwise has the right to receive pursuant to the provisions of Section 1.5, rounded up to the nearest
whole share (the “Escrow Shares”), which Escrow Shares shall be held (and released) in accordance with
the provisions of Sections 1.14(b), 10.6, 10.7, 10.8 and the terms of the Escrow Agreement. If any
Company Stock Certificate shall have been lost, stolen or destroyed, Parent may, in its discretion and as a condition precedent
to the issuance of any certificate representing Parent Common Stock, require the owner of such lost, stolen or destroyed Company
Stock Certificate to provide an appropriate affidavit and to deliver a bond (in such sum as Parent may reasonably direct) as indemnity
against any claim that may be made against Parent or the Surviving Corporation with respect to such Company Stock Certificate.

 

    	-4-

    	 

    
 

(c)               
No dividends or other distributions declared or made with respect to Parent Common Stock with a record date after the
Effective Time shall be paid to the holder of any unsurrendered Company Stock Certificate with respect to the shares of Parent
Common Stock represented thereby, and no cash payment in lieu of any fractional share shall be paid to any such holder, until such
holder surrenders such Company Stock Certificate in accordance with this Section 1.7 (at which time such holder shall be
entitled to receive all such dividends and distributions and such cash payment).

 

(d)              
Parent and the Surviving Corporation shall be entitled to deduct and withhold from any consideration payable or otherwise
deliverable to any holder or former holder of Company Capital Stock pursuant to this Agreement such amounts as Parent or the Surviving
Corporation may be required to deduct or withhold therefrom under the Code or under any provision of state, local or foreign tax
law, if any. To the extent such amounts are so deducted or withheld, such amounts shall be treated for all purposes under this
Agreement as having been paid to the Person to whom such amounts would otherwise have been paid.

 

(e)               
Neither Parent nor the Surviving Corporation shall be liable to any holder or former holder of Company Capital Stock
for any shares of Parent Common Stock (or dividends or distributions with respect thereto), or for any cash amounts, delivered
to any public official pursuant to any applicable abandoned property, escheat or similar law.

 

1.8             
Appraisal Shares.

 

(a)              
Notwithstanding anything to the contrary contained in this Agreement, Appraisal Shares (as defined in Section 1.8(c)
below) shall not be converted into or represent the right to receive Parent Common Stock in accordance with Section 1.5(a)
(or cash in lieu of fractional shares in accordance with Section 1.5(c)), and each holder of Appraisal Shares shall be entitled
only to such rights with respect to such Appraisal Shares as may be granted to such holder in Section 262 of the DGCL. From and
after the Effective Time, a holder of Appraisal Shares shall not have and shall not be entitled to exercise any of the voting rights
or other rights of a stockholder of the Surviving Corporation. If any holder of Appraisal Shares shall fail to perfect or shall
waive, rescind, withdraw or otherwise lose such holder’s right of appraisal under Section 262 of the DGCL, then (i) any right
of such holder to require the Company to purchase the Appraisal Shares for cash shall be extinguished and (ii) in accordance with
Section 1.7(a), such shares shall automatically be converted into and shall represent only the right to receive (upon the
surrender of the certificate or certificates representing such shares) Parent Common Stock, and cash in lieu of any fractional
share in accordance with Section 1.5(c), if appropriate.

 

    	-5-

    	 

    
 

(b)              
The Company (i) shall give Parent prompt written notice of any demand by any Company Stockholder for appraisal of such
Company Stockholder’s shares of Company Capital Stock pursuant to the DGCL and of any other notice demand or instrument delivered
to the Company pursuant to the DGCL and (ii) shall give Parent’s Representatives the opportunity to participate in all negotiations
and proceedings with respect to any such notice, demand or instrument. The Company shall not make any payment or settlement offer
with respect to any such notice or demand unless Parent shall have consented in writing to such payment or settlement offer.

 

(c)               
For purposes of this Agreement, “Appraisal Shares” shall refer to any shares of Company Capital
Stock outstanding immediately prior to the Effective Time that are held by Company Stockholders who are entitled to demand and
who properly demand appraisal of such shares pursuant to, and who comply with the applicable provisions of, Section 262 of the
DGCL.

 

1.9             
Treatment of Company Options and Company Warrants.

 

(a)              
Company Options.

 

(i)                
Each unexpired and unexercised Company Option outstanding as of immediately prior to the Effective Time shall be accelerated
and deemed vested, and shall be converted automatically into the right to receive, subject to the exchange procedures set forth
in Section 1.7 (provided, that such holder shall execute and deliver an Option Holder Letter of Transmittal), such number
of shares of Parent Common Stock equal to the product of (i) (A) (1) the Implied Merger Consideration Per Company Common Share,
minus (2) the exercise price payable in respect of each share of Company Common Stock underlying such Company Option, divided by
(B) the Parent Share Price, and (ii) the total number of shares underlying such Company Option; provided, that fractional
shares of Parent Common Stock shall be treated in accordance with Section 1.5(c) (such shares of Parent Common Stock issuable
to holders of Company Options under this Section 1.9(a)(i), collectively, the “Company Option Settlement Shares”).

 

(ii)              
Without limiting the generality of the foregoing, the Company shall take all actions as are necessary prior to Closing
to ensure that neither Parent nor the Surviving Corporation shall, after the Effective Time, be bound by any Company Option.

 

(b)              
Company Warrants. From and after the Effective Time, each unexpired and unexercised Company Warrant then outstanding
shall automatically, by virtue of the Merger, be adjusted such that the Company Warrant shall be exercisable for that number of
shares of Parent Common Stock equal to the product of (i) the number of shares of Company Common Stock subject to the Company Warrant
immediately prior to the Effective Time and (ii) the fraction of a share of Parent Common Stock into which one share of Company
Common Stock or Company Preferred Stock, as the case may be, shall be converted as a result of the Merger as set forth on the Spreadsheet
(and rounded to the nearest share in accordance with established mathematical principles), with an exercise price per share of
Parent Common Stock equal to the quotient of (A) the exercise price per share that existed under the corresponding Company Warrant
divided by (B) such fraction of a share of Parent Common Stock into which one share of Company Common Stock or Company Preferred
Stock, as the case may be, shall be converted as a result of the Merger as set forth in the Spreadsheet (and rounded to the nearest
cent in accordance with established principles).

 

    	-6-

    	 

    
 

1.10         
Share Repurchase Right. Prior to the Closing, the Company shall have the right to repurchase up to $13,125,000
in shares of the Company’s Capital Stock from one or more Company Stockholders (the “Repurchased Shares”).
The terms and conditions of the Company’s acquisition of any Repurchased Shares shall be negotiated by the Company on an
arm’s-length basis, in good faith, with the holder(s) thereof, and the purchase price for such Repurchased Shares will be
paid in the form of (a) cash, (b) Company Recap Notes or (c) a combination of cash and Company Recap Notes; provided, that in no
event shall the total amount of cash and Company Recap Notes issued to all such Company Stockholders exceed the $13,125,000.

 

1.11         
Backstop Fee Agreement. On or prior to the Closing, the Company shall have the right to enter into the Backstop
Fee Agreement with PAR in consideration for its execution and delivery of the Backstop Agreement prior to the Execution Date.

 

1.12         
Tax Consequences. For federal income tax purposes, the Merger is intended to constitute a reorganization
within the meaning of Section 368 of the Code. The parties to this Agreement hereby adopt this Agreement as a “plan of reorganization”
within the meaning of Sections 1.368-2(g) and 1.368-3(a) of the United States Treasury Regulations.

 

1.13         
Further Action. If, at any time after the Effective Time, any further action is reasonably determined
by Parent to be necessary or desirable to carry out the purposes of this Agreement or to vest the Surviving Corporation or Parent
with full right, title and possession of and to all rights and property of Merger Sub and the Company, the officers and directors
of the Surviving Corporation and Parent shall be fully authorized (in the name of Merger Sub, in the name of the Company and otherwise,
as the case may be) to take such action.

 

1.14         
Adjustments to Net Merger Consideration and Merger Shares.

 

(a)              
Calculation of Estimated Net Merger Consideration. Not later than three (3) business days prior to the Closing,
the Company shall deliver to Parent a certificate signed by the Company’s Chief Executive Officer setting forth (i) a consolidated
balance sheet of the Company (the “Estimated Closing Balance Sheet”), (ii) a calculation of Closing Date
Working Capital (the “Estimated Closing Date Working Capital”) and (iii) a calculation of Indebtedness
(the “Estimated Indebtedness”), in each case estimated as of 12:01 a.m. on the Closing Date (the “Adjustment
Calculation Time”), which calculations shall be prepared in accordance with GAAP in a manner consistent with the
preparation of the Financial Statements, along with reasonable supporting detail therefor. The amount, if any, by which the Estimated
Closing Date Working Capital is less than the Closing Date Working Capital Target shall be referred to herein as the “Estimated
Working Capital Shortfall,” and the amount, if any, by which the Estimated Working Capital is greater than the Closing
Date Working Capital Target shall be referred to herein as the “Estimated Working Capital Surplus.”

 

    	-7-

    	 

    
 

(b)              
Post-Closing Adjustments.

 

(i)                
As soon as practicable, but in any event no later than ninety (90) days, after the Closing, Parent shall deliver to
Stockholders’ Agent a statement (a “Closing Statement”) setting forth, as of the Adjustment Calculation
Time, (A) the consolidated balance sheet of the Company (the “Closing Balance Sheet”), (B) the Closing
Date Working Capital (the “Final Working Capital”) and (C) the Indebtedness (the “Final Indebtedness”).
The Closing Statement shall be prepared in accordance with GAAP in a manner consistent with the preparation of the Financial Statements.
The amount, if any, by which the Final Working Capital is less than the Closing Date Working Capital Target shall be referred to
herein as the “Final Working Capital Shortfall,” and the amount, if any, by which the Final Working Capital
is greater than the Closing Date Working Capital Target shall be referred to herein as the “Final Working Capital Surplus.”

 

(ii)              
For a period of thirty (30) days following the date on which the Closing Statement is delivered to the Stockholders’
Agent (such date referred to herein as the “Delivery Date”), Parent shall make available during customary
business hours and on reasonable notice to the Stockholders’ Agent and its auditors, all records and work papers used in
preparing the Closing Statement.

 

(iii)            
If the Stockholders’ Agent disagrees with the computation of the Final Working Capital reflected in the Closing
Statement, the Stockholders’ Agent may, within thirty (30) days after the Delivery Date, deliver a notice (an “Objection
Notice”) to Parent setting forth the Stockholders’ Agent’s calculation of such items (including reasonable
detail regarding the calculation of such items). If the Stockholders’ Agent does not deliver an Objection Notice within such
thirty (30) day period, then the Closing Statement prepared by Parent shall be deemed to have been accepted by the Stockholders’
Agent. If the Stockholders’ Agent delivers an Objection Notice, Parent and the Stockholders’ Agent shall use each of
its reasonable best efforts to resolve any disagreements, but if they do not obtain a final resolution within thirty (30) days
after Parent has received the Objection Notice, Parent and the Stockholders’ Agent, shall jointly retain PriceWaterhouseCoopers
(the “Accountant”) to resolve any remaining disagreements within thirty (30) days of its engagement.
The Accountant’s determination shall be based upon the terms of this Agreement and shall, absent manifest error, be conclusive
and binding upon the parties hereto. The date on which the Final Working Capital and the Final Indebtedness is finally determined
in accordance with this Section 1.14(b)(iii) shall be referred to herein as the “Determination Date.”

 

(iv)            
 If the number of Final Net Merger Shares is greater than the number of Closing Net Merger Shares, within five (5) business
days of the Determination Date, Parent shall issue and cause to be delivered to the Merger Stockholders such number of shares of
Parent Common Stock, in the aggregate, equal to such difference, in accordance with their respective holdings of Company Common
Stock immediately prior to the consummation of the Merger. If the number of Final Net Merger Shares is less than the number of
Closing Net Merger Shares, within five (5) business days of the Determination Date, the Stockholders’ Agent and Parent shall
direct the Escrow Agent to deliver to Parent such number of Escrow Shares equal to such difference in accordance with the terms
of the Escrow Agreement.

 

    	-8-

    	 

    
 

1.15         
Parent Committee. At the Closing, the Board of Directors of Parent shall appoint a committee consisting of (x)
two (2) of its members as of prior to the Closing, who shall be Harry Sloan and Jeffrey Sagansky, and (y) two (2) “independent”
directors of Parent as of after the Closing, who shall be agreed to by each of Parent and the Company prior to the Closing, to
act on behalf of Parent to take all necessary actions and make all decisions pursuant to (a) the matters set forth in Section
1.14(b) and (b) the Escrow Agreement regarding Parent’s right to indemnification pursuant to Section 10 (the “Post-Closing
Matters”). In the event of a vacancy in such committee, the Board of Directors of Parent shall appoint as a successor
a Person who was a director of Parent prior to the Closing Date or some other Person who would qualify as an “independent”
director of Parent and who has not had any relationship with the Company prior to the Closing. For the avoidance of doubt, such
committee shall have the power and authority to act on behalf of Parent, without any further approval or consent required from
any director, officer or stockholder of Parent, to take any necessary action and make any necessary decision on behalf of Parent
with respect to the Post-Closing Matters.

  

	 	Section 2.	Representations and Warranties of the Company

  

The Company hereby
represents and warrants, to and for the benefit of Parent, as follows:

 

2.1             
Organization; Qualification. The Company is a corporation duly incorporated validly existing and in good standing
under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted
and as proposed to be conducted. Each Subsidiary is an entity duly organized, validly existing and in good standing under the laws
of the jurisdiction of its incorporation or organization (as applicable) and has all requisite power and authority to carry on
its business as now conducted and as proposed to be conducted. Each of the Company and its Subsidiaries is duly qualified to transact
business and is in good standing in each jurisdiction in which it is so required under applicable laws, except where the failure
to do so, has not had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. Section
2.1 of the Schedule of Exceptions sets forth each jurisdiction in which the Company and each Subsidiary is qualified.

 

2.2             
Power; Authorization. The Company has all requisite corporate power to enter into, execute and deliver this Agreement
and each of the Transaction Agreements to perform its obligations hereunder and thereunder, and the execution, delivery and performance
by the Company of this Agreement and the Transaction Agreements have been duly authorized by all necessary action on the part of
the Board. This Agreement and each of the Transaction Agreements are the valid and binding obligations of the Company, enforceable
in accordance with their respective terms, except as the same may be limited by bankruptcy, insolvency, reorganization, fraudulent
conveyance, moratorium, or other laws of general application relating to or affecting enforcement of creditors’ rights and
the rules or laws governing specific performance, injunctive relief or other equitable remedies.

 

    	-9-

    	 

    
 

2.3             
Non-Contravention. The execution and delivery by the Company of this Agreement and the other Transaction Agreements
and the performance and consummation of the transactions contemplated hereby and thereby do not and will not (i) violate (A) the
organizational documents of the Company or any of its Subsidiaries, including, without limitation, the Restated Certificate or
the Company’s bylaws (collectively, the “Charter Documents”), or (B) any judgment, order, writ,
decree, ruling, charge, statute, rule, regulation or other restriction of any Governmental Body applicable to the Company, (ii)
except as set forth in Section 2.3 of the Schedule of Exceptions, conflict with, result in a breach of, constitute a default
under, result in the acceleration of, create in any party the right to accelerate, terminate, modify or cancel, or require any
notice under, any Contract to which any of the Company or any of its Subsidiaries is a party or by which it is bound or to which
any of its assets are subject, or (iii) result in the creation or imposition of any Encumbrance upon any property, asset or revenue
of the Company or any Subsidiary or the suspension, revocation, impairment, forfeiture or nonrenewal of any material permit, license,
authorization or approval applicable to the Company or any Subsidiary, their respective businesses or operations, or their respective
assets or properties.

 

2.4             
Capitalization. Immediately prior to the Closing, the authorized and outstanding capital of the Company will
consist of:

 

(a)              
378,848,172 shares of Company Preferred Stock, of which (i) 9,794,142 shares have been designated as Series A-1 Preferred
Stock, all of which are issued and outstanding, (ii) 19,887,000 shares have been designated as Series A-2 Preferred Stock, all
of which are issued and outstanding, (iii) 73,783,872 shares have been designated as Series B-1 Preferred Stock, all of which are
issued and outstanding, (iv) 62,326,439 shares have been designated as Series B-2 Preferred Stock, all of which are issued and
outstanding, (v) 105,868,792 shares have been designated as Series C-1 Preferred Stock, of which 84,695,034 are issued and outstanding
and (vi) 107,187,927 shares have been designated as Series C-2 Preferred Stock, of which 85,750,341 are issued and outstanding.
The rights, preferences and privileges of the Company Preferred Stock are as set forth in the Restated Certificate. All of the
outstanding shares of Company Preferred Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance
with all applicable federal and state securities laws.

 

(b)              
900,000,000 shares of Company Common Stock, of which 154,115,079 shares are issued and outstanding. All of the outstanding
shares of Company Common Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with all
applicable federal and state securities laws.

 

(c)               
an aggregate of 65,000,000 shares of Company Common Stock have been reserved for issuance to officers, directors, employees
and consultants of the Company pursuant to the Stock Plan. Of such reserved shares of Company Common Stock, 47,573,932 shares have
been allocated to options and 17,393,568 remain available for issuance under the 2011 Equity Incentive Plan. All outstanding options
are subject to the terms, conditions and restrictions set forth in the 2011 Equity Incentive Plan. Except as set forth in Section
2.4(c) of the Schedule of Exceptions, the Company has not adjusted or amended the exercise price of any stock option previously
awarded, whether through amendment, cancellation, replacement grant, repricing or otherwise.

 

    	-10-

    	 

    
 

(d)              
warrants (including any warrants which have been authorized by the Board, but not yet issued by the Company) to purchase
an aggregate of (i) 175,122,105 shares of Company Common Stock and (ii) 42,611,344 shares of Company Preferred Stock (collectively,
the “Company Warrants”).

 

(e)               
Section 2.4(e) of the Schedule of Exceptions sets forth the capitalization of the Company immediately prior to
and following the Closing, including all issued and outstanding shares of Company Common Stock, outstanding stock options, stock
options or shares of Common Stock reserved but not yet granted under the 2011 Equity Incentive Plan, all Company Preferred Stock
to be issued and outstanding as of such time, all accrued dividends due on each series of Company Preferred Stock currently outstanding,
all warrants presently outstanding and any other stock purchase rights or convertible securities. Except as set forth in the Restated
Certificate, the Company has no obligation (contingent or otherwise) to purchase or redeem any of its capital stock. No stock plan,
stock purchase, stock option or other agreement or understanding between the Company and any holder of equity securities or rights
to purchase equity securities provides for acceleration or other changes in the vesting provisions or terms of such agreements
or understandings, or the lapse of a Company repurchase right, upon the occurrence of any event or combination of events. All outstanding
stock options granted to officers, directors or employees of the Company have an exercise price equal to or greater than the fair
market value of the underlying stock as of the date of grant. Other than as set forth in this Section 2.4, the Company is
not party to any other outstanding option, warrant, right (including conversion or preemptive rights and rights of first refusal
or similar rights) proxy, voting, transfer restriction or stockholder agreement or agreement of any kind, orally or in writing,
for the purchase or acquisition from the Company of any shares of its capital stock. Except as set forth on Section 2.4(e)
of the Schedule of Exceptions, no person or entity has any right to acquire any securities of the Company or any option or warrant
to acquire any securities of the Company based on any broker, finder or investment banking type relationship with the Company.

 

(f)               
Section 2.4(f) of the Schedule of Exceptions provides an accurate and complete list of the name of and last address
known by the Company of each Stockholder, the number and class of Company Capital Stock owned by such Stockholder as of the date
of this Agreement, the date such Company Capital Stock was purchased, the price paid per share, the form of consideration used
(if not cash), the number of such shares that are subject to a repurchase right held by the Company, if any, the schedule of expiration
of such repurchase right and the cost to the Company to repurchase any such shares.

 

(g)              
Section 2.4(g) of the Schedule of Exceptions accurately sets forth, with respect to each Company Option that
is outstanding as of the date of this Agreement (i) the name of the holder of such Company Option and (ii) the total number of
shares of Company Common Stock that are subject to such Company Option and the number of shares of Company Common Stock with respect
to which such Company Option is immediately exercisable, (iii) the date on which such Company Option was granted and the term of
such Company Option, (iv) the vesting schedule for such Company Option and (v) the exercise price per share of Company Common Stock
purchasable under such Company Option. Section 2.4(g) of the Schedule of Exceptions also accurately sets forth, with respect
to each Company Warrant that is outstanding as of the date of this Agreement: (A) the name of the holder of such Company Warrant;
(B) the total number of shares of Company Common Stock or Company Preferred Stock that are subject to such Company Warrant; (C)
the exercise price per share of Company Common Stock or Company Preferred Stock purchasable under such Company Warrant; (D) the
date of such Company Warrant; and (E) the expiration date of such Warrant. The Company has delivered to Parent accurate and complete
copies of each Company Warrant that is outstanding as of the date of this Agreement.

 

    	-11-

    	 

    
 

(h)              
All of the outstanding shares of Company Capital Stock have been issued in compliance with all applicable federal and
state securities laws and other Legal Requirements and were not issued in violation of or subject to any preemptive rights or other
rights to subscribe for or purchase securities of the Company. All outstanding Company Options, Company Warrants and other securities
of the Company were duly authorized, have been granted or issued (as applicable) in compliance with all federal and state securities
laws and other Legal Requirements and were not issued in violation of or subject to any preemptive rights or other rights to subscribe
for or purchase securities of the Company. Except as set forth on Section 2.4(h) of the Schedule of Exceptions, there are
no preemptive rights applicable to any shares of capital stock of the Company.

 

(i)                
All of the stock or other equity securities in each Subsidiary owned by the Company is owned by the Company free and
clear of any Encumbrance. All of the outstanding stock or equity securities of each Subsidiary has been duly authorized and validly
issued and is fully paid and nonassessable, has been issued in compliance with all applicable federal, state and foreign securities
laws and other Legal Requirements and was not issued in violation of or subject to any preemptive rights or other rights to subscribe
for or purchase securities of the Subsidiary. There are no options, warrants or other rights outstanding to subscribe for or purchase
any shares of the capital stock of the Subsidiary and the Subsidiary is not subject to any obligation, commitment, plan, arrangement
or court or administrative order with respect to same. There are no preemptive rights applicable to any shares of capital stock
of the Subsidiary.

 

(j)                
The Company has never declared, accrued, set aside or paid any dividend or made any other distribution in respect of
any shares of its capital stock, nor has the Company redeemed, repurchased or otherwise reacquired any shares of its capital stock
or other security other than repurchases at the lower of cost or the current fair market value thereof from former employees in
accordance with the terms of such employees’ purchase agreements.

 

(k)              
The Company is not subject to the requirements of subdivision (b) of Section 2115 of the California Corporations Code.

 

2.5             
No Violation or Default; Compliance with Legal Requirements. Except as set forth in Section 2.5 of the
Schedule of Exceptions, neither the Company nor any Subsidiary is in violation of or default under any provision of its organizational
documents, any provision of any mortgage, indenture, agreement, instrument or contract to which it is a party or by which it is
bound, or any federal or state judgment, order, writ, decree, statute, rule or regulation applicable to it. The Company has complied
with each, and is not in material violation of any, applicable Legal Requirement (i) in the United States, to which the Company
or its business, operations, employees, assets or properties are or have been subject, and (ii) outside the United States, to which
the Company or its business, operations, employees, assets or properties are or have been subject, except to the extent that such
violations, have not had, or could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.
Neither the Company nor any Subsidiary has received notice regarding any violation of, conflict with, or failure to comply with,
any Legal Requirement. To the Company’s knowledge, no suit, proceeding, hearing, investigation or formal governmental complaint
has been filed or commenced against the Company or any Subsidiary alleging any failure to so comply. The Company has not, and to
the Company’s knowledge, no agent, representative, contractor, officer, director, stockholder, member, employee or manager
of the Company has, (A) acting at the direction or on behalf of the Company, made, paid or received any unlawful bribes, kickbacks
or other similar payments to or from any Person (including any customer or supplier) or Governmental Body, (B) acting at the direction
of or on behalf of the Company, made or paid any contributions, directly or indirectly, to a domestic or foreign political party
or candidate or (C) acting at the direction or on behalf of the Company, has made or paid any improper foreign payment (as defined
in Foreign Corrupt Practices Act of 1977, as amended).

 

    	-12-

    	 

    
 

2.6             
Brokers or Finders. Except as set forth in Section 2.6 of the Schedule of Exceptions, no Person has or
will have, as a result of any act or omission of the Company or any Subsidiary, any right, interest or valid claim against the
Company or any Subsidiary for any commission, fee or other compensation as a finder or broker in connection with the transactions
contemplated by the Agreement.

 

2.7             
Litigation. Except as set forth in Section 2.7 of the Schedule of Exceptions, there is no Legal Proceeding
pending or, to the Company’s knowledge, currently threatened against the Company or any Subsidiary or any officer or director
of the Company or any Subsidiary. None of the Legal Proceedings set forth on Section 2.7 of the Schedule of Exceptions (a)
questions the validity of this Agreement or the right of the Company to consummate the Merger and the other transactions contemplated
hereby or (b) has had, or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect,
nor is the Company aware that there is any basis for the foregoing. Neither the Company nor any of its Subsidiaries nor, to the
Company’s knowledge, any of their respective officers or directors, is a party to or is named as subject to the provisions
of any order, writ, injunction, judgment or decree of any court or Governmental Body. Except as set forth in Section 2.7
of the Schedule of Exceptions, no action, claim, suit or proceeding has been made, filed by or against the Company or any Subsidiary
since January 1, 2009. There is no action, suit, proceeding or investigation by the Company or any Subsidiary pending or which
the Company or any Subsidiary intends to initiate. The foregoing includes, without limitation, Legal Proceedings pending or threatened
in writing (or any basis therefor known to the Company) involving the prior employment of any of the Company’s or any Subsidiary’s
employees, their use in connection with the Company’s or any Subsidiary’s business, or any information or techniques
allegedly proprietary to any of their former employers, or their obligations under any agreements with prior employers.

 

2.8             
Title to Property and Assets. The Company and each of its Subsidiaries have good and valid title to all of their
respective properties and assets free and clear of any and all Encumbrances, except as set forth in Section 2.8 of the Schedule
of Exceptions. With respect to all leased property and assets, the Company and its Subsidiaries are in compliance with such leases
and hold valid leasehold interests free of any and all Encumbrances other than to the lessors of such properties or assets.

 

    	-13-

    	 

    
 

2.9             
Intellectual Property.

 

(a)              
All registered patents, trademarks and copyrights and all applications therefor, in each case for the Company and its
Subsidiaries, are listed in Section 2.9(a) of the Schedule of Exceptions. The Company: (i) is the true and lawful owner
or licensee of the trademarks and trademark applications listed in Section 2.9(a) of the Schedule of Exceptions, and said
listed trademarks and trademark applications constitute all the marks registered in the United States Patent and Trademark Office
and applications for trademarks that the Company now owns or uses in connection with its business; (ii) is the true and lawful
owner or licensee of all rights in the patents and patent applications listed in Section 2.9(a) of the Schedule of Exceptions
and said patents and patent applications constitute all the United States patents and applications for United States patents that
the Company now owns or uses in connection with its business; (iii) is the true and lawful owner or licensee of all rights
in the copyright registrations listed in Section 2.9(a) of the Schedule of Exceptions and said copyrights constitute all
the registered United States copyrights that the Company now owns or uses; (iv) is the true and lawful owner or licensee of all
rights in the registered service marks and service mark applications listed in Section 2.9(a) of the Schedule of Exceptions
and said service marks constitute all the service marks that the Company now owns or uses; (v) is the true and lawful owner or
licensee of all rights in the unregistered trade names and corporate names listed in Section 2.9(a) of the Schedule of Exceptions
and said names constitute all the trade names and corporate names that the Company now owns or uses; and (vi) is the true and lawful
owner or licensee of all rights in the domain names listed in Section 2.9(a) of the Schedule of Exceptions, and said domain
names constitute all the domain names that the Company now owns or uses.

 

(b)              
The Company and its Subsidiaries own or possess sufficient legal rights to all Company Intellectual Property as are
necessary to the conduct of their respective businesses as now conducted and as presently contemplated to be conducted, without
any known conflict with, or infringement of, the rights of others. Except for Company Intellectual Property owned by third parties
or as set forth in Section 2.9(b) of the Schedule of Exceptions, the Company or a Subsidiary is the sole and exclusive owner,
with all right, title and interest in and to (free and clear of all Encumbrances), all Company Intellectual Property, has sole
and exclusive rights (and is not contractually obligated to pay any compensation to any third party in respect thereof or in connection
with the use, sale, distribution, licensing or other exploitation thereof or as a result of the transactions contemplated by this
Agreement) to the use, sale, distribution, licensing or other exploitation therefor, and no current or former stockholder, employee,
consultant or director of the Company or any Subsidiary has any right in or interest to any Company Intellectual Property. No product
or service marketed or sold (or proposed to be marketed or sold) by the Company violates or, to the Company’s knowledge,
will violate any license or infringe any intellectual property rights of any other party.

 

(c)               
The Company and its Subsidiaries have taken commercially reasonable measures, as appropriate, to maintain and protect
the proprietary nature of the Company Intellectual Property, and to maintain in confidence all trade secrets and confidential information
that Company owns or for which it has such obligation.

 

    	-14-

    	 

    
 

(d)              
To the Company’s knowledge, there is no unauthorized use, infringement or misappropriation of any of the Company
Intellectual Property by any third party, including any employee or former employee of the Company. There is no pending or, to
the Company’s knowledge, threatened complaint, action, suit, claim, proceeding, other dispute or investigation, asserting
the invalidity, misuse or unenforceability of any Company Intellectual Property, contesting ownership of any Company Intellectual
Property, or otherwise challenging any of the Company’s or its Subsidiaries’ rights in or use of the Company Intellectual
Property, and, to the Company’s knowledge, no valid grounds for the same exist.

 

(e)               
Except for standard commercially available end-user, object code, internal-use software license and support/maintenance
agreements, there are no outstanding options, licenses, or agreements of any kind relating to the foregoing, nor is the Company
or any of its Subsidiaries bound by or a party to any options, licenses or agreements of any kind with respect to the patents,
trademarks, service marks, trade names, domain names, copyrights, trade secrets, licenses, information, proprietary rights and
processes of any other Person. Neither the Company nor any of its Subsidiaries has received any communications alleging that the
Company or any of its Subsidiaries has violated, diluted or infringed or, by conducting its business as proposed, would violate,
dilute or infringe any of the patents, trademarks, service marks, tradenames, copyrights, trade secrets or other proprietary rights
or processes of any other Person. The Company and its Subsidiaries have obtained and possess valid licenses to use all of the software
programs present on the computers and other software-enabled electronic devices that they own or lease or that they have otherwise
provided to their employees for their use in connection with their respective businesses.

 

(f)               
For purposes of this Section 2.9, the Company shall be deemed to have knowledge of a patent right if the Company
has actual knowledge of the patent right or would be found to be on notice of such patent right as determined by reference to United
States patent laws.

 

2.10         
Disclosure. This Agreement (including the Schedule of Exceptions) does not (i) contain any representation, warranty
or information regarding the Company or any Subsidiary that is false or misleading with respect to any material fact or (ii) omit
to state any material fact necessary in order to make the representations, warranties and information regarding the Company and
each of its Subsidiaries contained herein (in the light of the circumstances under which such representations, warranties and information
were made or provided) not false or misleading.

 

2.11         
Financial Statements; Accounting Controls. 

 

(a)              
The Company has furnished to Parent its audited consolidated financial statements (including balance sheet, income statement
and statement of cash flows) as of December 31, 2010 and for the fiscal year ended December 31, 2010, its audited consolidated
financial statements as of December 31, 2011 and for the fiscal year ended December 31, 2011 and its unaudited financial statements
as of June 30, 2012 (the “Balance Sheet Date”) and for the six month period ended June 30, 2012 (collectively,
the “Financial Statements”). The Financial Statements have been prepared in accordance with generally
accepted accounting principles applied on a consistent basis  throughout the periods indicated (“GAAP”),
and are consistent with the books and records of the Company and its Subsidiaries. The Financial Statements fairly present in all
material respects the financial condition and operating results of the Company and its Subsidiaries as of the dates, and for the
periods, indicated therein, except with respect to the absence of footnotes in connection with all Financial Statements for the
June 30, 2012 interim period. Except as set forth in the Financial Statements, neither the Company nor its Subsidiaries has any
material liabilities or obligations, contingent or otherwise, other than liabilities incurred in the ordinary course of business
subsequent to the Balance Sheet Date.

 

    	-15-

    	 

    
 

(b)              
The Company and its Subsidiaries have no liability or obligation, absolute or contingent (individually or in the aggregate),
except obligations and liabilities incurred after the date of incorporation in the ordinary course of business that are not material,
individually or in the aggregate and except as set forth in the Financial Statements.

 

(c)               
The Company maintains accounting controls and systems which are sufficient to provide reasonable assurances that (i)
all transactions are executed in accordance with management’s general or specific authorization, (ii) all transactions are
recorded as necessary to permit the accurate preparation of financial statements in conformity with generally accepted accounting
principles and to maintain proper accountability for items, (iii) access to their property and assets is permitted only in accordance
with management’s general or specific authorization, and (iv) the recorded accountability for items is compared with the
actual levels at reasonable intervals and appropriate action is taken with respect to any differences.

 

2.12         
Changes. Since the Balance Sheet Date, except for the transactions contemplated by this Agreement and except
as otherwise set forth on Section 2.12 to the Schedule of Exceptions, there has not been:

 

(a)              
any change in the assets, liabilities, financial condition, operating results or prospects of the Company or its Subsidiaries
that has constituted, or could reasonably be expected to constitute, individually or in the aggregate, a Material Adverse Effect;

 

(b)              
any damage, destruction or loss, whether or not covered by insurance;

 

(c)               
any cancellation, waiver, release or compromise by the Company or any of its Subsidiaries of a valuable right or claim
or of a material debt owed to it;

 

(d)              
any satisfaction or discharge of any Encumbrance or payment of any obligation by the Company or any of its Subsidiaries,
except in the ordinary course of business and the satisfaction or discharge of which has not had nor could reasonably be expected
to have, individually or in the aggregate, a Material Adverse Effect;

 

(e)               
any material change or amendment to, or termination of, a Material Contract by which the Company or any of its Subsidiaries
or any of their respective assets is bound or subject;

 

    	-16-

    	 

    
 

(f)               
any material change in any compensation arrangement or agreement with any employee, officer, director or stockholder;

 

(g)              
any sale, assignment, license or transfer by the Company or any of its Subsidiaries of any Company Intellectual Property
or other intangible assets of the Company and its Subsidiaries;

 

(h)              
any sale, lease, transfer, assignment or transfer by the Company or any of its Subsidiaries of any material portion
of its assets, other than for a fair consideration in the ordinary course of its business;

 

(i)                any resignation or termination of employment of any executive officer or Key Employee of the Company or any of its Subsidiaries;

 

(j)                any material change, except in the ordinary course of business, in a contingent obligation of the Company or any of
its Subsidiaries by way of guaranty, endorsement, indemnity, warranty or otherwise;

 

(k)              
any mortgage, pledge, transfer of a security interest in, or lien, created by the Company or any of its Subsidiaries,
with respect to any of its material properties or assets, except liens for Taxes not yet due or payable and liens that arise in
the ordinary course of business and do not materially impair the Company’s or any Subsidiary’s ownership or use of
such property or assets;

 

(l)                any loans or guarantees made by the Company or any of its Subsidiaries to or for the benefit of its employees, officers
or directors, or any members of their immediate families, other than travel advances and other advances made in the ordinary course
of its business;

 

(m)            
any declaration, setting aside or payment or other distribution in respect to any of the Company’s capital stock,
or any direct or indirect redemption, purchase, or other acquisition of any of such stock by the Company;

 

(n)              any notice received that any customer or supplier has terminated or materially reduced, or threatened to terminate or
materially reduce, its purchases from or provision of products or services to the Company or any of its Subsidiaries;

 

(o)              
any write off as uncollectible, or the establishment of any extraordinary reserve with respect to, any account receivable
or other indebtedness;

 

(p)              
the (i) establishment or adoption of any Plan, (ii) amendment of any Plan in any material respect, or (iii) the
payment of any bonus, profit-sharing or similar payment to any of its directors, officers or employees;

 

(q)              
any change in the Company’s methods of accounting or accounting practices in any respect;

 

(r)               any material Tax election;

 

    	-17-

    	 

    
 

(s)               
the commencement or any Legal Proceeding by or against the Company or any of its Subsidiaries;

 

(t)                
to the Company’s knowledge, any other event or condition of any character, other than events affecting the economy
or the Company’s industry generally, that has resulted in or could reasonably be expected to result in, individually or in
the aggregate, a Material Adverse Effect;

 

(u)              
any capital expenditure (or series of related capital expenditures) outside the ordinary course of business of the Company
and its Subsidiaries;

 

(v)              
the issuance of any note, bond or other debt security by the Company or any of its Subsidiaries, or the creation, incurrence,
assumption or guarantee of any indebtedness for borrowed money or capitalized lease obligation outside the ordinary course of business;

 

(w)            
any delay or postponement of the payment of accounts payable and other liabilities of the Company or its Subsidiaries
outside the ordinary course of business;

 

(x)              
any change made or authorized in the organizational documents of the Company or any of its Subsidiaries;

 

(y)              
the entry into, termination or modification of any collective bargaining agreement (or otherwise becoming bound by the
terms of any collective bargaining arrangement) by the Company or any of its Subsidiaries, or

 

(z)               
any arrangement or commitment by the Company or any of its Subsidiaries to do any of the things described above.

 

2.13         
Taxes. The Company and each of its Subsidiaries have duly and timely filed all material Tax Returns and reports
(including information returns and reports) as required by law. All such Tax Returns were correct and complete in all material
respects and were prepared in substantial compliance with all applicable Legal Requirements. Except as set forth on Section
2.13 of the Schedule of Exceptions, the Company and each of its Subsidiaries have paid all material Taxes and other assessments
due (whether or not shown on a Tax Return), except those contested by it in good faith with respect to which (i) an adequate reserve
therefor has been established and is maintained in accordance with GAAP and (ii) there has been no action to foreclose a lien on
the Company’s or any Subsidiary’s property as a result of such unpaid Taxes. There are no Encumbrances on any of the
assets of the Company or any of its Subsidiaries that arose in connection with any failure (or alleged failure) to pay any Tax.
Neither the Company nor any Subsidiary has executed any waiver of any statute of limitations on the assessment or collection of
any Tax. None of the Company’s federal or foreign income Tax Returns and none of its state income or franchise tax or sales
or use Tax Returns has ever been audited by any Governmental Body, which audit has not been resolved. Since the Company’s
inception, neither the Company nor any Subsidiary has incurred any Taxes other than in the ordinary course of business. The Company
and each of its Subsidiaries have withheld or collected from each payment made to each of its employees, the amount of all material
Taxes (including, but not limited to, federal income taxes, Federal Insurance Contribution Act taxes and Federal Unemployment Tax
Act taxes) required to be withheld or collected therefrom, and has paid the same to the proper Tax receiving officers or authorized
depositories. To the Company’s knowledge, no claim has been made by any Governmental Body in a jurisdiction where the Company
or any of its Subsidiaries does not file Tax Returns that the Company or any of its Subsidiaries is or may be subject to taxation
by that jurisdiction. There is no dispute or claim concerning any Tax liability of the Company or any of its Subsidiaries either
(a) claimed or raised by any Governmental Body in writing or (b) as to which the Company or any of its Subsidiaries has knowledge.

 

    	-18-

    	 

    
 

2.14         
Insurance. Section 2.14 of the Schedule of Exceptions identifies all insurance policies maintained by,
at the expense of or for the benefit the Company or any Subsidiary, identifies any material claims made thereunder, and includes
a summary of the amounts and types of coverage and the deductibles under each such insurance policy. Each of the insurance policies
identified in Section 2.14 of the Schedule of Exceptions is in full force and effect. Except as set forth in Section
2.14 of the Schedule of Exceptions, the Company has not received any notice or other communication regarding any actual or
possible (a) cancellation or invalidation of any insurance policy, (b) refusal of any coverage or rejection of any claim under
any insurance policy, or (c) material adjustment in the amount of the premiums payable with respect to any insurance policy. With
respect to each such insurance policy: (A) the policy is legal, valid, binding, enforceable, and in full force and effect; (B)
the policy will continue to be legal, valid, binding, enforceable, and in full force and effect on identical terms following the
consummation of the Merger; (C) none of the Company nor any of its Subsidiaries nor, to the Company’s knowledge, any other
party to the policy is in breach or default (including with respect to the payment of premiums or the giving of notices), and,
to the Company’s knowledge, no event has occurred that, with notice or the lapse of time, would constitute such a breach
or default, or permit termination, modification, or acceleration, under the policy; and (D) no party to the policy has repudiated
any provision thereof.

 

2.15         
Employee Matters.

 

(a)              
Section 2.15(a) of the Schedule of Exceptions sets forth all employee benefit plans (within the meaning of Section
3(3) of ERISA) and any other employee benefit plan, program or arrangement maintained, established or sponsored by the Company
or any Subsidiary, or in or to which the Company or any of its Subsidiaries participates or contributes, or with respect to which
the Company or any of its Subsidiaries has any liability (each, a “Company Plan”). The Company and its
Subsidiaries have timely made all required contributions and have no liability to any such employee benefit plan, other than liability
for health plan continuation coverage described in Part 6 of Title I(B) of ERISA (“COBRA”), and have
complied with all applicable laws for any such employee benefit plan.

 

(b)              
The Company, its Subsidiaries and each entity treated as a single employer with the Company or any Subsidiary pursuant
to Section 414 of the Code (an “ERISA Affiliate”) do not participate in, contribute to, have any obligation
to contribute to, or have any liability or contingent liability with respect to any multiemployer plan (as defined in Section 3(37)
of ERISA) (“Multiemployer Plan”) or any defined benefit plan (as defined in Section 3(35) of ERISA).
No Company Plan is or has ever been subject to Title IV of ERISA or Section 412 of the Code. Except as set forth in Section
2.15(b) of the Schedule of Exceptions, the Company and the Subsidiaries do not maintain, participate in, contribute to, have
any obligation to contribute to, or have any liability or contingent liability with respect to any Company Plan which provides
post retirement health, accident or life insurance benefits to current or former employees, current or former independent contractors,
current or future retirees, their spouses, dependents or beneficiaries, other than liability for health plan continuation coverage
under COBRA. The Company, its Subsidiaries and each ERISA Affiliate have complied in all material respects with the requirements
of COBRA.

 

    	-19-

    	 

    
 

(c)               
There are no pending or, to the knowledge of the Company, threatened claims, actions or suits (other than routine claims
for benefits) by, on behalf of, or against any Company Plan or any trusts which are associated with such Company Plans, or to the
extent relating to any Company Plan, the plan sponsor, the plan administrator or, to the knowledge of the Company, any fiduciary
of any Company Plan. None of the Company Plans are under audit or investigation by the IRS, the Department of Labor, the Pension
Benefit Guaranty Corporation or any other Governmental Body.

 

(d)              
With respect to each Company Plan, the Company has made available to Parent true, correct and complete copies, to the
extent applicable, of (i) the plan and trust documents (including all amendments) and the most recent summary plan description
and any summary of material modifications, (ii) the three (3) most recent annual reports (Form 5500 series, including all schedules
and attachments), (iii) the three (3) most recent financial statements and actuarial reports, (iv) the most recent IRS determination,
opinion, or advisory letter, (v) any material associated administrative agreements or insurance policies, (vi) all material correspondence
with any Governmental Body from the past three (3) years, with respect to which the Company has any ongoing material obligation
or liability, and (vii) all discrimination tests required under the Code or ERISA for the three (3) most recent plan years.

 

(e)               
Neither the Company nor any of its employees, nor, to the Company’s knowledge, any other fiduciary of a Company
Plan, has committed a breach of any responsibility or obligation imposed upon fiduciaries under Title I of ERISA with respect to
such Company Plan. To the Company’s knowledge, no event has occurred and no condition exists with respect to any Company
Plan that will subject Parent or any of its Affiliates, directly or indirectly (through indemnification or otherwise), to any obligation
or liability for (A) any breach of any responsibility or obligation imposed upon fiduciaries under Title I of ERISA, (B) any transaction
in violation of Section 406 of ERISA or any “prohibited transaction” (as defined in Section 4975(c)(1) of the Code),
or (C) any material tax, interest, penalty, liability, or fine under Section 502 of ERISA or Section 4071 of the Code.

 

(f)               
Each Company Plan which is a “nonqualified deferred compensation plan” within the meaning of Section 409A
of the Code was operated and administered between January 1, 2005 and December 31, 2008 in compliance in all material respects
with a reasonable, good faith interpretation of Section 409A of the Code, and has been since January 1, 2009, in documentary and
operational compliance with Section 409A of the Code.

 

(g)              
Each Company Plan that is intended to be qualified under Section 401(a) of the Code and is the subject of a current
favorable determination, opinion, or advisory letter upon which Parent may rely. No fact or event has occurred since the date of
such letter from the IRS that would reasonably be expected to adversely affect the qualified status of any such Company Plan or
the tax-exempt status of any such trust.

 

    	-20-

    	 

    
 

(h)              
All Company Plans may be modified or terminated by the Company without the consent of any other Person and without material
liability to the Company or any Subsidiary. The Company and its Subsidiaries have no obligation, written or oral, to provide for
any increase in any Company Plan.

 

(i)                
Section 2.15(i) of the Schedule of Exceptions lists, as of the date hereof, each full-time and part-time employee
of the Company and its Subsidiaries, each consultant or independent contractor engaged by the Company or any of its Subsidiaries
and a detailed description of all compensation, including salary, bonus, consulting fees, and deferred compensation paid or payable
for each such Person. None of such Persons are related to or otherwise affiliated with any officer, director or Key Employee of
the Company or any Subsidiary.

 

(j)                
To the Company’s knowledge, none of its or any Subsidiary’s employees is obligated under any contract (including
licenses, covenants or commitments of any nature) or other agreement, or subject to any judgment, decree or order of any court
or administrative agency, that would materially interfere with such employee’s ability to promote the interest of the Company
or any of its Subsidiaries or that would conflict with the Company’s or any subsidiary’s business. Neither the execution
or delivery of any of the Transaction Agreements, nor the carrying on of the Company’s or any Subsidiary’s business
by the employees of the Company or any of its Subsidiaries, nor the conduct of the Company’s or any Subsidiary’s business
as now conducted and as presently proposed to be conducted, will, to the Company’s knowledge, conflict with or result in
a breach of the terms, conditions, or provisions of, or constitute a default under, any contract, covenant or instrument under
which any such employee is now obligated.

 

(k)              
Neither the Company nor any of its Subsidiaries is delinquent in payments to any of its employees, consultants or independent
contractors for any wages, salaries, commissions, bonuses, or other direct compensation for any service performed for it to the
date hereof or amounts required to be reimbursed to such employees, consultants, or independent contractors. The Company and its
Subsidiaries have complied with all applicable state and federal equal employment opportunity laws and with other laws related
to employment, including those related to wages, hours, worker classification, collective bargaining, and the payment and withholding
of taxes and other sums as required by law except where noncompliance with any applicable law has not resulted in, nor could be
reasonably expected to have, individually or in the aggregate, a Material Adverse Effect.

 

(l)                
To the Company’s knowledge, no Key Employee intends to terminate employment with the Company or any of its Subsidiaries
or is otherwise likely to become unavailable to continue as a Key Employee, nor does the Company or any of its Subsidiaries have
a present intention to terminate the employment of any Key Employee. Except as set forth in Section 2.15(l) of the Schedule
of Exceptions, the employment of each employee of the Company or any of its Subsidiaries is terminable at the will of the Company
or Subsidiary. Except as set forth in Section 2.15(l) of the Schedule of Exceptions or as required by law, upon termination
of the employment of any such employees, no severance or other payments will become due. Except as set forth in Section 2.15(l)
of the Schedule of Exceptions, neither the Company nor any of its Subsidiaries has a policy, practice, plan, or program of paying
severance pay or any form of severance compensation in connection with the termination of employment services.

 

    	-21-

    	 

    
 

(m)            
Except as set forth in Section 2.15(m) of the Schedule of Exceptions, neither the Company nor any of its Subsidiaries
have made any representations regarding equity incentives to any officer, employees, director or consultant that have not been
duly approved by the board and evidenced by duly executed stock option agreements, stock purchase agreements or the like.

 

(n)              
Neither the Company nor any of its Subsidiaries is bound by or subject to (and none of their respective assets or properties
is bound by or subject to) any written or oral, express or implied, contract, commitment or arrangement with any labor union, and
no labor union has requested or, to the knowledge of the Company, has sought to represent any of the employees, representatives
or agents of the Company or any of its Subsidiaries. There is no strike or other labor dispute involving the Company or any of
its Subsidiaries pending or threatened, nor is the Company aware of any labor organization activity involving its employees.

 

(o)              
Each current and former employee, consultant and officer of the Company or any of its Subsidiaries has executed an agreement
with the Company regarding confidentiality, proprietary information, and invention assignments and except as set forth in Section
2.15(o) of the Schedule of Exceptions, to the Company’s knowledge, none of its employees, consultants or officers is
in violation thereof.

 

(p)              
Except as set forth in Section 2.15(p) of the Schedule of Exceptions, each former Key Employee whose employment
was terminated by the Company or any of its Subsidiaries has entered into an agreement with the Company providing for the full
release of any claims against the Company or any related party arising out of such employment.

 

(q)              
To the Company’s knowledge, none of the officers, directors or Key Employees of the Company or any of its Subsidiaries
has been (i) subject to voluntary or involuntary petition under the federal bankruptcy laws or any state insolvency law or the
appointment of a receiver, fiscal agent or similar officer by a court for his business or property, (ii) convicted in a criminal
proceeding or named as a subject of a pending criminal proceeding (excluding traffic violations and other minor offenses), (iii) subject
to any order, judgment, or decree (not subsequently reversed, suspended, or vacated) of any court of competent jurisdiction permanently
or temporarily enjoining him from engaging, or otherwise imposing limits or conditions on his engagement in any securities, investment
advisory, banking, insurance, or other type of business or acting as an officer or director of a public company, or (iv) found
by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state securities or unfair
trade practices law, which such judgment or finding has not been subsequently reversed, suspended or vacated.

 

(r)               
There is no agreement, plan, arrangement or other Contract covering any employee or independent contractor or former
employee or independent contractor of the Company or any Subsidiary that, considered individually or considered collectively with
any other such Contracts, will, or would reasonably be expected to, give rise directly or indirectly to the payment of any amount
that would not be deductible pursuant to Section 280G or Section 162 of the Code. The Company shall not is, nor has ever
been, a party to or bound by any tax indemnity agreement, tax sharing agreement, tax allocation agreement or similar agreement.

 

    	-22-

    	 

    
 

(s)               
Since January 1, 2009: (i) neither the Company nor any of its Subsidiaries has been party to or bound by any collective
bargaining agreement, labor contract, or other written or oral agreement or understanding with any union or labor organization
covering wages, hours, or terms or conditions of employment; (ii) to the knowledge of the Company, (A) no union or labor organization
claims to represent any employee of the Company or its Subsidiaries, and (B) there are no organizational campaigns, demands, petitions
or proceedings pending or threatened by any union, labor organization, or group of employees seeking recognition or certification
as collective bargaining representative of any group of employees of the Company or its Subsidiaries; (iii) neither the Company
nor its Subsidiaries has experienced or been affected by any labor strike, work stoppage, or lockout with respect to its labor
force and, to the knowledge of the Company, no labor strike, work stoppage or lockout has been threatened against the Company;
and (iv) other than as set forth in Section 2.15(s) of the Schedule of Exceptions, there have been no disputes, complaints,
arbitration, lawsuits or administrative proceedings relating to labor matters pending against the Company or any of its Subsidiaries,
with respect to which the Company or any Subsidiary has received written notice or, to the knowledge of the Company, threatened
against the Company or any Subsidiary.

 

2.16         
Related-Party Transactions.

 

(a)              
Other than (i) standard employee benefits generally made available to all employees, (ii) standard director and officer
indemnification agreements approved by the Board of Directors in such form previously provided to Parent, (iii) the purchase of
shares of the Company’s capital stock and the issuance of Company Options, in each instance, approved by the Board of Directors,
and (iv) the transactions contemplated by the Transaction Agreements, there are no agreements, understandings or proposed transactions
between the Company and any of its officers, directors, affiliates, or any affiliate thereof.

 

(b)              
No employee, officer or director of the Company or any of its Subsidiaries (each, a “Related Party”)
or member of such Related Party’s immediate family, or any corporation, partnership or other entity in which such Related
Party is an officer, director or partner, or in which such Related Party has an ownership interest or otherwise controls, is indebted
to the Company or any of its Subsidiaries, nor is the Company or any of its Subsidiaries indebted (or committed to make loans or
extend or guarantee credit) to any of them. None of such Persons have any direct or indirect ownership interest in any firm or
corporation with which the Company or any of its Subsidiaries is affiliated or with which the Company or any of its Subsidiaries
has a business relationship, or any firm or corporation that competes with the Company or any of its Subsidiaries, except that
Related Parties and members of their immediate families may own stock in (but not exceeding 2% of the outstanding capital stock
of) publicly traded companies that may compete with the Company. No Related Party or member of their immediate families is directly
or indirectly interested in any contract with the Company or any of its Subsidiaries. None of the Related Parties, or any member
of such Related Party’s immediate family, has any material commercial, industrial, banking, consulting, legal, accounting,
charitable or familial relationship with any of the Company’s or any Subsidiary’s major business relationship partners,
service providers, joint venture partners, licensees or competitors.

 

    	-23-

    	 

    
 

2.17         
Permits. The Company and its Subsidiaries have all material franchises, permits, licenses and any similar authority
necessary for the conduct of their respective businesses as currently conducted. Neither the Company nor any of its Subsidiaries
is in default in any material respect under any of such franchises, permits, licenses or other similar authority. The Company has
the earth station license from the Federal Communications Commission which is necessary to operate the Company’s in-flight
broadband Internet access system (the “Company System”). Armstrong Aerospace and/or the
Company has the requisite certifications from the Federal Aviation Administration and the European Aviation Safety Agency that
are required to deploy such vendor’s products in the Company System on its in-service aircraft fleet.

 

2.18         
Subsidiaries. Except as set forth in Section 2.18 of the Schedule of Exceptions, the Company does not
currently own or control, directly or indirectly, any interest in any other corporation, partnership, trust, joint venture, limited
liability company, association or other business entity. The Company is not a participant in any joint venture, partnership or
similar arrangement. The Company owns, directly or indirectly, all of the capital stock or comparable equity interests of each
of its Subsidiaries free and clear of any and all liens or encumbrances, and all the issued and outstanding shares of capital stock
or comparable equity interest of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and
similar rights to subscribe for or purchase securities.

 

2.19         
Agreements; Actions.

 

(a)              
Except for the Transaction Agreements and as otherwise set forth in Schedule 2.19 of the Schedule of Exceptions,
there are no agreements, understandings, instruments, Contracts or proposed transactions to which the Company or any of its Subsidiaries
is a party or by which it is bound that involve: (i) obligations (contingent or otherwise) of, or payments to, the Company or any
of its Subsidiaries in excess of $100,000; (ii) the license of any patent, trademark, copyright, trade secret or other proprietary
right to or from the Company or any of its Subsidiaries (other than the license to the Company or any of its Subsidiaries of generally
commercially available “off-the-shelf” third-party products); (iii) the grant of rights to manufacture, produce, assemble,
license, market or sell its products to any other Person or affect the Company’s or any Subsidiary’s exclusive right
to develop, manufacture, assemble, distribute, market or sell its products; (iv) leases of real property; (v) leases of material
personal property; (vi) indemnification by the Company or any of its Subsidiaries; (vii) agreements concerning a partnership or
joint venture; (viii) agreements under which it has created, incurred, assumed, or guaranteed any indebtedness for borrowed money,
or any capitalized lease obligation, or under which it has imposed an Encumbrance on any of its assets, tangible or intangible;
(ix) agreements concerning confidentiality or non-competition, other than such agreements with employees, consultants and other
third parties in the ordinary course of business; (x) collective bargaining agreements; (xi) agreements for the employment of any
individual on a full-time, part-time, consulting, or other basis providing annual compensation in excess of $100,000 or providing
severance benefits outside of the Company’s or any Subsidiary’s normal severance policies; (xii) agreements pursuant
to which the Company or any Subsidiary has exclusivity rights with respect to any third party or such third party’s business
or operations; (xiii) agreements under which the consequences of default or termination could be reasonably expected to have a
Material Adverse Effect; (xiv) settlement, conciliation or similar agreement with any Governmental Body or which will require satisfaction
of any obligations after the date hereof; or (xv) are otherwise material to the Company’s or any Subsidiary’s current
or proposed business. To the extent any such Contract is oral, a summary of the material terms of such arrangement is set forth
in Section 2.19 of the Schedule of Exceptions.

 

    	-24-

    	 

    
 

(b)              
Each agreement, understanding, arrangement or other commitment that is required to be set forth in Section 2.19
of the Schedule of Exceptions (each, a “Material Contract”), is in full force and effect against the
Company, in each case in accordance with its terms. True, correct and complete copies of all Material Contracts have previously
been furnished to Parent. With respect to each such Material Contract: (A) the Material Contract is the legal, valid, binding and
enforceable obligation of the Company, and is in full force and effect; (B) the Material Contract will continue to be legal, valid,
binding, enforceable, and in full force and effect on identical terms following the consummation of the Merger; (C) to the Company’s
knowledge, no party is in breach or default, and no event has occurred that with notice or lapse of time would constitute a breach
or default, or permit termination, modification, or acceleration, under the Material Contract; and (D) no party has repudiated
any provision of the Material Contract.

 

(c)               
Neither the Company nor any of its Subsidiaries has (i) declared or paid any dividends, or authorized or made any distribution
upon or with respect to any class or series of its capital stock, (ii) except as set forth in the Financial Statements, incurred
any indebtedness for money borrowed or incurred any other liabilities individually in excess of $150,000, or in excess of $250,000
in the aggregate, (iii) made any loans or advances to any Person, other than ordinary advances for travel expenses, or (iv) sold,
exchanged or otherwise disposed of (including any exclusive license of) any of its assets or rights, other than the sale of its
inventory in the ordinary course of business.

 

(d)              
For the purposes of subsections (a) and (c) above, all indebtedness, liabilities, agreements, understandings, instruments,
contracts and proposed transactions involving the same Person (including Persons the Company has reason to believe are affiliated
with that Person) shall be aggregated for the purposes of meeting the individual minimum dollar amounts of each such subsection.

 

(e)               
Other than discussions and negotiations relating to the transactions contemplated by this Agreement, the Company has
not engaged in the past six (6) months in any discussion with any Person regarding (i) a sale or exclusive license of all or substantially
all of the Company’s assets, (ii) any merger, consolidation or other business combination transaction of the Company with
or into another Person, or (iii) the direct or indirect acquisition (including by way of a tender or exchange offer) by any Person,
or Persons acting as a group, of beneficial ownership or a right to acquire beneficial ownership of shares representing a majority
of the voting power of the then outstanding shares of capital stock of the Company.

 

    	-25-

    	 

    
 

(f)               
Neither the Company nor any Subsidiary is a guarantor or indemnitor of any indebtedness of any other Person.

 

(g)              
With respect to each Material Contract set forth in subsection (ii) of Section 2.19 of the Schedule of Exceptions,
Section 2.19(g) of the Schedule of Exceptions sets forth, as of the date of this Agreement, the nature and duration of the
Company’s exclusivity rights with respect to any third party or such third party’s business or operations.

 

2.20         
Environmental and Safety Laws. Except as set forth in Section 2.20 of the Schedule of Exceptions, (a) the
Company and its Subsidiaries are and have been in compliance with all Environmental Laws, (b) there has been no release of
any Hazardous Substance on, upon, into or from any site currently or heretofore owned, leased or otherwise used by the Company
or any of its Subsidiaries, (c) there have been no Hazardous Substances generated by the Company or any of its Subsidiaries
that have been disposed of or come to rest at any site that has been included in any published U.S. federal, state or local “superfund”
site list or any other similar list of hazardous or toxic waste sites published by any governmental authority in the United States,
and (d) there are no underground storage tanks located on, no polychlorinated biphenyls (“PCBs”)
or PCB-containing equipment used or stored on, and no hazardous waste as defined by the Resource Conservation and Recovery Act,
as amended, stored on, any site owned or operated by the Company or any of its Subsidiaries, except for the storage of hazardous
waste in compliance with Environmental Laws.

 

2.21         
Exclusive Rights. Neither the Company nor any of its Subsidiaries has granted rights to manufacture, produce,
assemble, lease, market or sell its products or services to any other Person and is not bound by any agreement that affects or
limits the Company’s or any Subsidiary’s exclusive right to develop, manufacture, distribute, market or sell its products
and services. Neither the Company nor any of its Subsidiaries is subject to any agreement or other instrument which would restrict
the ability of the Company or any of its Subsidiaries to (a) engage in any business (including its current business) in any manner
or in any geographic area or (b) hiring or soliciting for hire any Person.

 

2.22         
Real Property Holding Company. The Company is not now and has never been a “United States real property
holding corporation” as defined in the Code and any applicable regulations promulgated thereunder.

 

2.23         
Records.  The Company has delivered to Parent accurate and complete copies of (a) the Charter Documents
and (b) the minutes and other records of the meetings and other proceedings (including any actions taken by written consent or
otherwise without a meeting) of the Company Stockholders and the stockholders of the Subsidiary, the board of directors of the
Company and all committees of the board of directors of the Company.

 

2.24         
Company Stockholder Approval. The written consent of (i) holders of a majority of the outstanding shares of Company
Capital Stock, voting together as a single class and (ii) holders of a majority of the outstanding shares of Company Preferred
Stock, voting separately as a class, is required to approve the principal terms of the Merger, adopt this Agreement and approve
the other Transaction Agreements (the “Company Stockholder Approval”). Other than the Company Stockholder
Approval, there are no other votes of the holders of any class or series of the Company’s Capital Stock necessary with respect
to such matters.

 

    	-26-

    	 

    
 

2.25         
Real Property. The Company does not own, have an option to purchase, or have an obligation to purchase any real
property. Section 2.25(a) of the Schedule of Exceptions lists all real property leased by the Company or its Subsidiaries
(collectively, the “Leased Real Property”). Except as set forth in Section 2.25(b) of the Schedule
of Exceptions, neither the Company nor any Subsidiary is in default under the terms of any lease to which it is a party in respect
of such Leased Real Property which default gives or would, with the passage of time, give the lessor of such lease the right to
terminate for convenience or materially adversely alter the terms of such lease to which the Company or any Subsidiary is a party.
The Leased Real Property is in good order and repair and is suitable for the conduct of the business of the Company or its Subsidiary,
as applicable.

 

2.26         
Information Supplied. None of the information supplied or to be supplied by the Company expressly for inclusion
in the definitive Proxy Statement (and any amendment or supplement thereto) will, at the date of mailing and at the time of the
Parent Stockholder Meeting, contain any statement which is false or misleading with respect to any material fact, or which omits
to state any material fact necessary in order to make the statements therein not false or misleading. None of the information supplied
or to be supplied by the Company expressly for inclusion in any of the filings made by Parent with the SEC or with any stock exchange
or other regulatory authority will, at the time filed with the SEC, contain any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances
under which they are made, not misleading.

 

2.27         
No Discussions. Other than discussions and negotiations relating to the transactions contemplated by this Agreement,
including with Parent, neither the Company nor any Subsidiary is presently in discussion with any other Person in connection with
an Acquisition Transaction.

 

2.28         
Accredited Investors. To the Company’s Knowledge, no more than an aggregate of thirty-five (35) Company
Stockholders are not “accredited investors” within the meaning of Regulation D promulgated by the SEC under the Securities
Act.

  

	 	Section 3.	Representations and Warranties of Parent and Merger Sub

  

Parent and Merger Sub
jointly and severally represent and warrant to the Company as follows:

 

3.1             
Organization; Qualification. Each of Parent and Merger Sub is a corporation duly incorporated, validly existing
and, except as set forth in Section 3.1 of the Parent Schedule of Exceptions, in good standing under the laws of the State
of Delaware, and has all corporate power required to conduct its business as now conducted, and is duly qualified to do business
and is in good standing in each jurisdiction in which the conduct of its business or the ownership or leasing of its properties
requires such qualification, except where the failure to be so qualified would not have a material adverse effect on Parent’s
business, financial condition or results of operations.

 

    	-27-

    	 

    
 

3.2             
Power; Authorization.  Parent and Merger Sub have the requisite corporate power and authority to enter
into and to perform their obligations under this Agreement and the other Transaction Agreements; and the execution, delivery and
performance by Parent and Merger Sub of this Agreement (including the contemplated issuance of Parent Common Stock in the Merger
in accordance with this Agreement) and the Transaction Agreements have been duly authorized by all necessary action on the part
of Parent and Merger Sub and their respective boards of directors. This Agreement and each of the Transaction Agreements constitutes
the legal, valid and binding obligation of Parent and Merger Sub, enforceable against them in accordance with their respective
terms, except as the same may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other
laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law governing specific
performance, injunctive relief and other equitable remedies.

 

3.3             
No Conflict; Consents. The execution and delivery of this Agreement and the Transaction Agreements and
the consummation of the transactions contemplated hereby and thereby by Parent and Merger Sub are not prohibited by, and will not
violate or conflict with, any provision of the certificate of incorporation or bylaws of Parent or Merger Sub, or of any Legal
Requirement or any order, writ, injunction or decree to which Parent or Merger Sub is subject, or any provision of any Contract
to which Parent or Merger Sub is a party, except where any of the foregoing would not have, individually or in the aggregate, a
material adverse effect on the business, financial condition or results of operations, of Parent. No Consent of any Governmental
Body is necessary on the part of Parent or Merger Sub for the consummation by Parent and Merger Sub of the transactions contemplated
by this Agreement.

 

3.4             
Valid Issuance. All shares of Parent Common Stock to be issued in the Merger will when issued in accordance with
the provisions of this Agreement, be validly issued, fully paid and nonassessable and free of preemptive rights.

 

3.5             
Capitalization. As of the Execution Date, the authorized and outstanding capital stock of Parent consists, and
as of the Closing Date the authorized and outstanding capital stock of Parent will consist, of:

 

(a)              
400,000,000 shares of Parent Common Stock, of which 23,161,585 shares are issued and outstanding. All of the outstanding
shares of Common Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable
federal and state securities laws.

 

(b)              
1,000,000 shares of preferred stock, par value $0.0001 per share, none of which is issued and outstanding.

 

(c)               
Parent Warrants to purchase an aggregate of 25,992,500 shares of Parent Common Stock. All of the Parent Warrants have
been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal and state securities
laws.

 

    	-28-

    	 

    
 

(d)              
On or prior to the Closing, all of the Total Merger Shares (i) will be issued or have been issued in compliance with
all applicable federal, state and foreign securities laws and other Legal Requirements and (ii) will not be issued in violation
of or subject to any preemptive rights or other rights to subscribe for or purchase securities of the Company.

 

(e)               
Parent has never declared, accrued, set aside or paid any dividend or made any other distribution in respect of any
shares of its capital stock, nor has the Company redeemed, repurchased or otherwise reacquired any shares of its capital stock
or other security other than repurchases at the lower of cost or the current fair market value thereof from former employees in
accordance with the terms of such employees’ purchase agreements.

 

(f)               
Parent has no stock plan, stock purchase agreement, stock option agreement, employment agreement or other Contract between
Parent and any holder of any equity securities or rights to purchase equity securities provides for acceleration or other changes
in the vesting provisions, Parent’s repurchase rights or other terms of such Contract as the result of: (i) termination of
employment (whether actual or constructive); (ii) any Acquisition Transaction; or (iii) the occurrence of any other event or combination
of events.

 

(g)              
No issued and outstanding shares of any of the capital stock of Parent are held by Parent in its treasury or by any
Subsidiaries of Parent.

 

(h)              
Aside from the Parent Warrants, there are no options, warrants, convertible securities or other rights, agreements,
arrangements or commitments of any character obligating Parent to issue or sell any additional shares of the capital stock of,
or other equity interest in, Parent.

 

3.6             
Merger Sub. Merger Sub has been formed solely for the purpose of executing and delivering this Agreement
and consummating the transactions contemplated hereby. Merger Sub has not engaged in any business or activity other than activities
related to its corporate organization and the execution and delivery of this Agreement.

 

3.7             
SEC Filings; Financial Statements. Parent has filed with the SEC and has heretofore made available to
the Company true and complete copies of all forms, reports, schedules, statements and other documents required to be filed by it
and its Subsidiaries under the Exchange Act (collectively, the “Parent SEC Documents”). As of their respective
dates or, if amended, as of the date of the last such amendment, the Parent SEC Documents, including, without limitation, any financial
statements or schedules included therein, complied in all material respects with the applicable requirements of the Securities
Act and the Exchange Act, and did not contain any untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were
made, not misleading. Each of the balance sheets (including the related notes) included in the Parent SEC Documents fairly presented
in all material respects the financial position of Parent as of the respective dates thereof, and the other related financial statements
(including the related notes) included therein fairly presented in all material respects the results of operations and cash flows
of Parent for the respective periods or as of the respective dates set forth therein. Each of the balance sheets and statements
of operations and cash flows (including the related notes) included in the Parent SEC Documents has been prepared in all material
respects in accordance with GAAP, except as otherwise noted therein and subject, in the case of unaudited interim financial statements,
to normal year-end adjustments. 

 

    	-29-

    	 

    
 

3.8             
Taxes. Parent has duly and timely filed all material Tax Returns and reports (including information returns and
reports) as required by law. All such Tax Returns were correct and complete in all material respects and were prepared in substantial
compliance with all applicable Legal Requirements. Except as set forth in Section 3.8 of the Parent Schedule of Exceptions,
Parent has paid all material Taxes and other assessments due (whether or not shown on a Tax Return), except those contested by
it in good faith with respect to which (i) an adequate reserve therefor has been established and is maintained in accordance with
GAAP and (ii) there has been no action to foreclose a lien on Parent’s property as a result of such unpaid Taxes. There are
no Encumbrances on any of the assets of Parent that arose in connection with any failure (or alleged failure) to pay any Tax. Parent
has not executed any waiver of any statute of limitations on the assessment or collection of any Tax. None of the Company’s
federal or foreign income Tax Returns and none of its state income or franchise tax or sales or use Tax Returns has ever been audited
by any Governmental Body, which audit has not been resolved. Since the Company’s inception, neither the Company nor any Subsidiary
has incurred any Taxes other than in the ordinary course of business. Parent has withheld or collected from each payment made to
each of its employees, the amount of all material Taxes (including, but not limited to, federal income taxes, Federal Insurance
Contribution Act taxes and Federal Unemployment Tax Act taxes) required to be withheld or collected therefrom, and has paid the
same to the proper Tax receiving officers or authorized depositories. To Parent’s knowledge, no claim has been made by any
Governmental Body in a jurisdiction where Parent does not file Tax Returns that Parent is or may be subject to taxation by that
jurisdiction. There is no dispute or claim concerning any Tax liability of the Parent either (a) claimed or raised by any Governmental
Body in writing or (b) as to which the Parent has knowledge.

 

3.9             
No Discussions. Other than discussions and negotiations relating to the transactions contemplated by this Agreement,
including with AIA and PAR with respect to the AIA Transaction Agreements, Parent is not actively pursuing with any other Person
(each, a “Target”) (a) a sale or exclusive license of all or substantially all of any Target’s
assets to Parent or any of its subsidiaries or affiliates, (ii) any merger, consolidation or other business combination transaction
with respect to any Target, or (iii) the direct or indirect acquisition (including by way of a tender or exchange offer) by Parent
or any of its subsidiaries or affiliates of beneficial ownership or a right to acquire beneficial ownership of shares representing
a majority of the voting power of the then outstanding shares of capital stock of any Target.

 

3.10         
Parent Vote Required. The vote of such holders of shares of Parent Common Stock as set forth in the Proxy Statement
is required to approve the Parent Voting Matters (collectively, the “Required Parent Vote”). Other than
the Required Parent Vote, there are no other votes of the holders of Parent Common Stock or of any other class or series of the
capital stock of Parent necessary with respect to such matters. 

 

    	-30-

    	 

    
 

3.11         
Trust Account. As of the date of this Agreement, Parent has at least $189,643,330.90 of funds held in the trust
account established for the benefit of the public stockholders of Parent (the “Trust Account”), such
monies being invested in United States Government securities or money market funds meeting certain conditions under Rule 2a-7 promulgated
under the Investment Company Act of 1940, as amended, and held in trust pursuant to that certain Investment Management Trust Agreement
by and between Parent and American Stock Transfer & Trust Company, LLC (the “Trustee”) dated as of
May 12, 2011 (the “Trust Agreement”). The Trust Agreement is valid and in full force and effect and enforceable
in accordance with its terms and has not been amended or modified. There are no separate agreements, side letters or other agreements
or understandings (whether written or unwritten, express or implied) that would cause the description of the Trust Agreement in
the Parent SEC Documents to be inaccurate in any material respect and/or that would entitle any Person (other than as set forth
in this Section 3.11) to any portion of the proceeds in the Trust Account. Prior to the Closing, none of the funds held
in the Trust Account may be released except (x) to pay income and franchise taxes and expenses from any interest income earned
in the Trust Account and (y) to purchase up to the Maximum Redemption Amount of Parent Common Stock sold in Parent’s initial
public offering at a price per share no greater than the Parent Share Price. Following the Closing and notice thereof to the Trustee,
the Trustee shall be obligated to release as promptly as practicable all funds held in the Trust Account to Parent, and, thereafter,
the Trust Account shall terminate; provided that Parent shall pay each of the following liabilities and obligations as and when
due: (i) on the Closing, all amounts payable to Parent Stockholders who have exercised their rights to cause the Parent to redeem
their shares of Parent Common Stock for cash pursuant to Parent’s certificate of incorporation (provided that in no event
may the aggregate number of shares of Parent Common Stock redeemed by Parent prior to the Closing in accordance with clause (y)
of the preceding sentence and any shares of Parent Common Stock redeemed by Parent pursuant to this clause (i) exceed the Maximum
Redemption Amount), (ii) all amounts payable to the underwriters in Parent’s initial public offering and other designated
Persons, in an amount not to exceed $6,647,375 in the aggregate to all such underwriters and other designated Persons, representing
deferred underwriting commissions and discounts payable upon consummation of the Closing and certain advisory fees, (iii) fees
with respect to filings, applications and/or other actions taken pursuant to this Agreement required under the HSR Act, (iv) amounts
payable to Global Eagle Acquisition LLC or its members or affiliates as may relate to (A) unpaid loans made to Parent and unreimbursed,
documented out-of-pocket expenses incurred on behalf of Parent in connection with the business and operations of Parent, (B) unpaid
amounts owed to Roscomare Ltd. for office space, secretarial and administrative services pursuant to the Letter Agreement, dated
as of February 2, 2011, between Roscomare Ltd. and Parent, and (C) unpaid amounts owed to James A. Graf for consulting services
pursuant to the Consulting Agreement, dated as of May 12, 2011, (v) all fees, costs and expenses (including legal fees, accounting
fees, printer fees, and other professional fees) that have been incurred or that are incurred by Parent, Merger Sub, the Company,
AIA, or PAR in connection with the transactions contemplated by this Agreement and the AIA Transaction Agreements and (vi) unpaid
franchise and income taxes of Parent, provided, further, that, after payment of all the aforementioned liabilities and obligations
from the Trust Account, the remaining monies in the Trust Account shall, as a result of the Merger, become an asset of Parent at
and after the Effective Time. As of the Effective Time, those obligations of Parent to dissolve or liquidate within a specified
time period as contained in Parent’s certificate of incorporation will be terminated and Parent shall have no obligation
whatsoever to dissolve and liquidate the assets of Parent by reason of the consummation of the transactions contemplated by this
Agreement and the AIA Transaction Agreements, and no Parent Stockholder shall be entitled to receive any amount from the Trust
Account.

 

    	-31-

    	 

    
 

3.12         
Brokers or Finders. Except as set forth in Section 3.12 of the Parent Schedule of Exceptions, no broker,
finder or investment banker is entitled to any brokerage, finder’s or other fee or commission in connection with the Merger
or any of the other transactions contemplated by this Agreement based upon arrangements made by or on behalf of Parent.

  

	 	Section 4.	Certain Covenants of the Company and Par

  

4.1             
Access and Investigation. During the period from the date of this Agreement through the Closing Date or
the earlier termination of this Agreement (the “Pre-Closing Period”), the Company shall, and shall cause
its Representatives to provide Parent and Parent’s Representatives with: (a) full access to its personnel, premises, properties
and assets and to all existing books, records, Tax Returns, work papers and other documents and information relating to the Company;
(b) copies of such existing books, records, Tax Returns, work papers and other documents and information relating to the Company;
and (c) such additional financial, operating and other data and information regarding the Company as Parent may reasonably request.

 

4.2             
Company Operations. Without the prior written consent of Parent, during the Pre-Closing Period:

 

(a)              
the Company and its Subsidiaries shall conduct its business and operations in the ordinary course and in substantially
the same manner as such business and operations have been conducted prior to the date of this Agreement;

 

(b)              
the Company shall use reasonable best efforts to preserve intact its current business organization, keep available the
services of its current officers and employees and maintain its relations and good will with all suppliers, customers, landlords,
creditors, employees and other Persons having business relationships with it;

 

(c)               
the Company shall keep in full force all insurance policies identified in Section 2.14 of the Schedule of Exceptions;

 

(d)              
neither the Company nor any Subsidiary shall make any binding material proposal or enter into, amend or terminate any
Material Contract (including, without limitation, any lease of real property);

 

(e)               
the Company shall not declare, accrue, set aside or pay any dividend or make any other distribution in respect of any
shares of Company Capital Stock, and the Company shall not repurchase, redeem or otherwise reacquire any shares of Company Capital
Stock or other securities;

 

(f)               
the Company shall not sell, issue or authorize the issuance of (i) any capital stock or other security (except upon
the valid exercise of Company Options or Company Warrants outstanding as of the date of this Agreement or upon conversion of any
shares of Company Preferred Stock into shares of Company Common Stock and except with respect to the issuance of additional options
prior to the Closing Date to the officers and employees of the Company under the 2011 Equity Incentive Plan), (ii) any option or
right to acquire any capital stock or other security, or (iii) any instrument convertible into or exchangeable for any capital
stock or other security;

 

    	-32-

    	 

    
 

(g)              
the Company shall not amend or waive any of its rights under (i) any provision of 2011 Equity Incentive Plan, (ii) any
provision of any agreement evidencing any outstanding option or right to purchase equity securities of the Company, or (iii) any
provision or any restricted stock purchase agreement;

 

(h)              
neither the Company nor any Subsidiary shall amend or permit the adoption of any amendment to any of the Charter Documents;

 

(i)                
neither Company nor any Subsidiary shall form any subsidiary or acquire any equity interest or other interest in any
other Entity;

 

(j)                
neither the Company nor any Subsidiary shall (i) enter into, or permit any of the assets owned or used by it to become
bound by, any Contract requiring the Consent of any other party to such Contract in connection with the Merger or the other transactions
contemplated by this Agreement, (ii) enter into, or permit any of the assets owned or used by it to become bound by, any Contract
that is or would constitute a Material Contract, or (iii) amend or prematurely terminate, or waive any material right or remedy
under, any Material Contract;

 

(k)              
neither the Company nor any Subsidiary shall (i) lend money to any Person (except that the Company may make routine
travel advances to employees in the ordinary course of business) or (ii) incur or guarantee any indebtedness for borrowed money;

 

(l)                
neither the Company nor any Subsidiary shall (i) establish, adopt or amend any employee benefit plan, (ii) pay any bonus
or make any profit-sharing payment, cash incentive payment or similar payment to, or increase the amount of the wages, salary,
commissions, fringe benefits or other compensation or remuneration payable to, any of its directors, officers or employees, or
(iii) hire any new employee, consultant or independent contractor;

 

(m)            
the Company shall not change any of its methods of accounting or accounting practices in any material respect;

 

(n)              
neither the Company nor any Subsidiary shall make any material Tax election;

 

(o)              
neither the Company nor any Subsidiary shall commence or settle any Legal Proceeding;

 

(p)              
neither the Company nor any Subsidiary shall take any other action, or enter into any transaction of the sort, set forth
in Section 2.12 above; and

 

(q)              
neither the Company nor any Subsidiary shall agree or commit to take any of the actions described in clauses “(d)”
through “(p)” above; provided that, notwithstanding anything contained in this Section 4.2 to the contrary,
after the Execution Date the Company shall not be restricted from acquiring the Repurchased Shares or issuing the Company Recap
Notes or the Backstop Note.

 

    	-33-

    	 

    
 

4.3             
Notification; Updates to Schedule of Exceptions.

 

(a)              
During the Pre-Closing Period, the Company shall promptly notify Parent in writing of:

 

(i)                
the discovery by the Company of any event, condition, fact or circumstance that occurred or existed on or prior to the
date of this Agreement and that caused or constitutes an inaccuracy in or breach of any representation or warranty made by the
Company in this Agreement;

 

(ii)              
any event, condition, fact or circumstance that occurs, arises or exists after the date of this Agreement and that would
cause or constitute an inaccuracy in or breach of any representation or warranty made by the Company in this Agreement if (A) such
representation or warranty had been made as of the time of the occurrence, existence or discovery of such event, condition, fact
or circumstance or (B) such event, condition, fact or circumstance had occurred, arisen or existed on or prior to the date
of this Agreement;

 

(iii)            
any breach of any covenant or obligation of the Company; and

 

(iv)            
any event, condition, fact or circumstance that would make the timely satisfaction of any of the conditions set forth
in Section 7 or Section 8 impossible or unlikely.

 

(b)              
If any event, condition, fact or circumstance that is required to be disclosed pursuant to Section 4.3(a) requires
any change in the Schedule of Exceptions, or if any such event, condition, fact or circumstance would require such a change assuming
the Schedule of Exceptions were dated as of the date of the occurrence, existence or discovery of such event, condition, fact or
circumstance, then the Company shall promptly deliver to Parent an update to the Schedule of Exceptions specifying such change.
No such update shall be deemed to supplement or amend the Schedule of Exceptions for the purpose of (i) determining the accuracy
of any of the representations and warranties made by the Company in this Agreement, for purposes of the indemnification provisions
set forth in Section 10 or otherwise, or (ii) determining whether any of the conditions set forth in Section 8
has been satisfied.

 

4.4             
No Negotiations. During the Pre-Closing Period, none of the Company, PAR nor any of their respective Representatives
shall, directly or indirectly:

 

(a)              
solicit or encourage the initiation of any inquiry, proposal or offer from any Person (other than Parent) relating to
a possible Acquisition Transaction;

 

(b)              
participate in any discussions or negotiations or enter into any agreement with, or provide any information to, any
Person (other than Parent) relating to or in connection with a possible Acquisition Transaction; or

 

    	-34-

    	 

    
 

(c)               
consider, entertain or accept any proposal or offer from any Person (other than Parent) relating to a possible Acquisition
Transaction.

 

The Company shall promptly notify Parent
in writing of any inquiry, proposal or offer relating to a possible Acquisition Transaction that is received by the Company, PAR
or any Representative thereof during the Pre-Closing Period. 

 

4.5             
Public Announcements. From and after the date of this Agreement, the Company shall not (i) issue any press
release regarding this Agreement or the Merger, or regarding any of the other transactions contemplated by this Agreement or (ii)
make any public statement regarding this Agreement or the Merger, or regarding any of the other transactions contemplated by this
Agreement, in each case without Parent’s prior written consent. The Company shall not provide any written materials (including
by email) to its employees generally (or to any subset thereof), or to its customers or partners generally (or to any subset thereof),
regarding this Agreement or the Merger, or regarding any of the other transactions contemplated by this Agreement without Parent’s
prior written consent; provided, that the Company may provide written materials to the Company Stockholders in such form
approved by Parent in accordance with Sections 4.9(a) and (b).

 

4.6             
Trust Account Waiver. Each of the Company and PAR acknowledges and agrees that Parent is a blank check company
with the power and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving the
Company and one or more businesses or assets. Each of the Company and PAR acknowledges and agrees that Parent’s sole assets
consist of the cash proceeds of Parent’s initial public offering and private placements of its securities, and that substantially
all of these proceeds have been deposited in the Trust Account for the benefit of its public shareholders. For and in consideration
of Parent and Merger Sub entering into this Agreement, the receipt and sufficiency of which are hereby acknowledged, each of the
Company and PAR, on behalf of itself and any of their respective managers, directors, officers, affiliates, members, stockholders,
trustees, hereby irrevocably waive any right, title, interest or claim of any kind they have or may have in the future in or to
any monies in the Trust Account, and agree not to seek recourse against the Trust Account or any funds distributed therefrom as
a result of, or arising out of, any such claims against Parent or Merger Sub arising under this Agreement.

 

4.7             
Notices and Consents. The Company and its Subsidiaries shall give any notices to third parties referred to in
Section 2.3 of the Schedule of Exceptions, and shall use their reasonable best efforts to obtain any third-party Consents
set forth in Section 2.3 of the Schedule of Exceptions.

 

4.8             
Company Stockholder Approval.

 

(a)              
On the Execution Date, the Board shall submit this Agreement for adoption by the Company Stockholders by written consent
and recommend that the Company Stockholders adopt this Agreement, and shall include in such submissions sent to Non-Accredited
Company Stockholders a copy of the draft preliminary Proxy Statement. The Company shall use its reasonable best efforts to obtain
the Company Stockholder Approval within three (3) business days following the Execution Date in compliance with applicable Legal
Requirements.

 

    	-35-

    	 

    
 

(b)              
After the Company Stockholder Approval has been obtained, the Company shall send, pursuant to Sections 228 and 262(d)
of the DGCL, a written notice to all Company Stockholders that did not execute the written consent under which the Company Stockholder
Approval was obtained, informing them that this Agreement was adopted and that appraisal rights are available for their Company
Capital Stock pursuant to Section 262 of the DGCL (which notice shall include a copy of such Section 262).

 

4.9             
Certain Company Covenants Related to Proxy Statement and Additional Parent Filings. The Company acknowledges
that a substantial portion of the Proxy Statement and certain other forms, reports and other filings required to be made by Parent
under the Exchange Act in connection with the transactions contemplated hereby (including, without limitation, a current report
on Form 8-K required to be filed after the Closing regarding these transactions sometimes referred to as a “Super 8-K”)
(collectively, “Additional Parent Filings”) shall include disclosure regarding the Company and its management,
operations and financial condition. Accordingly, the Company agrees to promptly provide Parent with all information concerning
the Company, its management, operations and financial condition, in each case, required to be included in the Proxy Statement and
Additional Parent Filings or as otherwise requested by Parent. The Company and its Subsidiaries shall make their managers, directors,
officers and employees available to Parent and its counsel in connection with the drafting of the Proxy Statement and responding
in a timely manner to comments on the Proxy Statement from the SEC.

 

4.10         
Company Penny Warrants. The Company shall use its reasonable best efforts to cause the holders of Company Penny
Warrants to exercise each such Company Penny Warrant prior to or at Closing.

 

4.11         
2011 Equity Incentive Plan. The Company shall take all actions necessary to terminate the 2011 Equity Incentive
Plan as of the Effective Time.

 

	 	Section 5.	Certain Covenants of Parent

  

5.1             
Proxy Statement. As promptly as practicable after the execution of this Agreement, Parent shall file with the
SEC a proxy statement in connection with the transactions contemplated by this Agreement (the “Proxy Statement”)
for delivery to Parent Stockholders, which Proxy Statement shall comply as to form in all material respects with the applicable
requirements of the Exchange Act, the DGCL and NASDAQ rules. In that regard, Parent shall set a record date (the “Parent
Record Date”) for determining the Parent Stockholders entitled to attend a meeting of the Parent Stockholders to
vote on the Parent Voting Matters (the “Parent Stockholder Meeting”). Parent shall cause a copy of the
Proxy Statement to be delivered to each Parent Stockholder who was a Stockholder as of the Parent Record Date and, as promptly
as practicable thereafter, Parent shall use commercially reasonable efforts to hold the Parent Stockholder Meeting and to solicit
from each Parent Stockholder a proxy or vote in favor of proposals to approve (i) the principal terms of the Merger and the adoption
of this Agreement, (ii) the principal terms of the AIA Acquisition and the adoption of the AIA Acquisition Agreement and (iii)
the authorization and adoption of the Parent 2012 Equity Incentive Plan and iv) the other proposals submitted to the vote of the
Parent Stockholders in the Proxy Statement (collectively, the “Parent Voting Matters”). 

 

    	-36-

    	 

    
 

5.2             
Parent Operations. Without the prior written consent of the Company, during the Pre-Closing Period:

 

(a)              
Parent shall conduct its business and operations in the ordinary course and in substantially the same manner as such
business and operations have been conducted prior to the date of this Agreement;

 

(b)              
Parent shall not declare, accrue, set aside or pay any dividend or make any other distribution in respect of any shares
of its capital stock, and Parent shall not shall repurchase, redeem or otherwise reacquire any shares of its capital stock or other
securities;

 

(c)               
except as otherwise contemplated by this Agreement and by the AIA Transaction Agreement, Parent shall not shall sell,
issue or authorize the issuance of (i) any capital stock or other security, (ii) any option or right to acquire any capital stock
or other security, or (iii) any instrument convertible into or exchangeable for any capital stock or other security, in each case
other than entry into agreements for issuances and sales of shares of Parent Common Stock (or securities convertible into or exchangeable
for shares of Parent Common Stock) at the Closing for a purchase price per share greater than or equal to the Parent Share Price;

 

(d)              
Parent shall not shall amend or permit the adoption of any amendment to any of its charter documents;

 

(e)               
Parent shall not shall enter into, or permit any of the assets owned or used by it to become bound by, any Contract
requiring the Consent of any other party to such Contract in connection with (i) the Merger or the other transactions contemplated
by this Agreement or (ii) the AIA Transaction Agreements;

 

(f)               
Parent shall not shall (i) lend money to any Person (except that Parent may make routine travel advances to employees
in the ordinary course of business) or (ii) incur or guarantee any indebtedness for borrowed money in excess of $1 million;

 

(g)              
Parent shall not shall change any of its methods of accounting or accounting practices in any material respect; or

 

(h)              
Parent shall not shall agree or commit to take any of the actions described in clauses ”(b)” through
“(g)” above.

 

5.3             
Public Announcements. From and after the date of this Agreement, except to the extent required by the
Securities Act and the Exchange Act, Parent shall not (i) issue any press release regarding this Agreement or the Merger, or regarding
any of the other transactions contemplated by this Agreement or (ii) make any public statement regarding this Agreement or the
Merger, or regarding any of the other transactions contemplated by this Agreement, in each case without the Company’s prior
written consent. 

 

    	-37-

    	 

    
 

5.4             
No Other Transactions. During the Pre-Closing Period, neither Parent nor any of its Representatives shall,
directly or indirectly:

 

(a)              
Commence, initiate or renew any discussion, proposal or offer to any Target;

 

(b)              
Commence or renew any due diligence investigation of any Target;

 

(c)               
participate in any discussions or negotiations or enter into any term sheet, memorandum of understanding or other Contract
with, any Target; or

 

(d)              
consider, entertain or present any proposal or offer to any Target relating to a possible Acquisition Transaction.

 

5.5             
Indemnification Agreements. Prior to the Closing, Parent shall enter into an indemnification agreement with each
of the individuals who will be directors of Parent immediately following the Closing, each in such form reasonably satisfactory
to Parent and the Company.

 

5.6             
Post-Closing Covenants of Parent. Parent hereby agrees and covenants as to the following, from and after the
Closing:

 

(a)              
All rights to indemnification for acts or omissions occurring through the Closing existing as of the date hereof in
favor of the current directors and officers of the Company as provided in the Charter Documents or in any indemnification agreements
between the Company and any of its directors or officers (all of which, for purposes of clarification, are set forth in Section
2.19 of the Schedule of Exceptions) shall survive the Merger and shall continue in full force and effect in accordance with their
respective terms.

 

(b)              
For a period of six (6) years after the Closing, Parent shall cause to be maintained by the Surviving Corporation the
current policies of directors’ and officers’ liability insurance maintained by the Company as of the Closing (or policies
of at least the same coverage and amounts containing terms and conditions which are no less advantageous) with respect to claims
arising from facts and events that occurred prior to the Closing; provided, however, that in no event shall Parent or Surviving
Corporation be required to expend under this Section 5.6(b) more than an amount equal to 200% of the current annual premiums
paid by the Company for such insurance.

 

(c)               
If Parent or the Surviving Corporation or any of their successors or assigns (i) consolidates with or merges into any
other Person and shall not be the continuing or surviving entity of such consolidation or merger, or (ii) transfers or conveys
all or substantially all of its properties and assets to any Person, then, in each such case, to the extent necessary, proper provision
shall be made so that the successors and assigns of Parent or the Surviving Corporation, as the case may be, assume the obligations
set forth in this Section 5.6.

 

    	-38-

    	 

    
  

	 	Section 6.	Covenants of Company and Parent.

  

6.1             
Cooperation. Each of the Company and Parent will its reasonable best efforts to take all actions and to do all
things necessary, proper, or advisable in order to consummate and make effective the transactions contemplated by this Agreement
(including satisfaction, but not waiver, of the Closing conditions set forth in Sections 7 and 8). Without limiting
the foregoing, the Company shall, and shall cause its Subsidiaries and each of their respective officers, employees and non-employee
representatives to, use reasonable efforts to provide to Parent such customary cooperation reasonably requested by Parent in connection
with the solicitation of proxies for the Parent Stockholder Meeting and/or the holding or purchase of shares of Parent Common Stock,
in each case related to the transactions contemplated hereby, including, without limitation, attending and participating in such
presentations, meetings and roadshows reasonably requested by Parent and providing such information, financial or otherwise, reasonably
requested by Parent in connection therewith.

 

6.2             
HSR Act. Each of the Company and Parent will file any Notification and Report Forms and related material that
it may be required to file with the Federal Trade Commission and the Antitrust Division of the United States Department of Justice
under the HSR Act in connection with the transactions contemplated hereby, will use its reasonable best efforts to obtain an early
termination of the applicable waiting period, and will make any further filings pursuant thereto that may be necessary, proper,
or advisable.

 

6.3             
Updates to Proxy Statement. If at any time prior to the Effective Time, any information relating to Parent, the
Company or its Subsidiaries, or any of their respective subsidiaries, affiliates, officers or directors, that should be set forth
in an amendment or supplement to the Proxy Statement should be discovered by Parent or the Company, as applicable, the party which
discovers such information shall promptly notify the other party hereto and an appropriate amendment or supplement describing such
information shall be promptly filed with the SEC and, to the extent required by law, disseminated to the stockholders of Parent;
provided, however, that no information received by the Company or Parent pursuant to this Section 6.3 shall
operate as a waiver or otherwise affect any representation, warranty or agreement given or made by the other party, and no such
information shall be deemed to change, supplement or amend the Schedules of Exceptions or Parent Schedule of Exceptions, as the
case may be.

 

	 	Section 7.	Conditions Precedent to Obligations of Parent and Merger Sub

  

The obligations of
Parent and Merger Sub to effect the Merger and otherwise consummate the transactions contemplated by this Agreement are subject
to the satisfaction (or waiver by Parent), at or prior to the Closing, of each of the following conditions:

 

7.1             
Accuracy of the Company’s Representations.

 

(a)              
All of the Company’s representations and warranties in this Agreement that contain “Material Adverse Effect”
or other “materiality” or similar qualifiers shall have been accurate in all respects as of the date of this Agreement
and as of the Closing Date as if made on and as of the Closing Date.

 

    	-39-

    	 

    
 

(b)              
All of the Company’s representations and warranties in this Agreement that do not contain “Material Adverse
Effect” or other “materiality” or similar qualifiers shall have been accurate in all material respects as of
the date of this Agreement and as of the Closing Date as if made on and as of the Closing Date.

 

7.2             
Performance of Covenants. All of the covenants and obligations that the Company or any of its Subsidiaries is
required to comply with or to perform at or prior to the Closing shall have been complied with and performed in all material
respects.

 

7.3             
Parent Stockholder Approval. The Required Parent Vote shall have been obtained.

 

7.4             
Required Consents. All third party Consents required to be obtained in connection with the Merger and the other
transactions contemplated by this Agreement set forth in Section 7.5 of the Schedule of Exceptions shall have been obtained
by the Company and shall be in full force and effect.

 

7.5             
Agreements and Documents. Parent shall have received the following agreements and documents, each of which
shall be in full force and effect:

 

(a)              
the Registration Rights Agreement, executed by PAR;

 

(b)              
the Escrow Agreement, executed by the Stockholders’ Agent and the Escrow Agent;

 

(c)               
the Certificate of Merger, executed by the Company, to be filed with the Secretary of State of the State of Delaware
in accordance with Section 1.3;

 

(d)              
a certificate executed by the Chief Executive Officer of the Company containing the representation of such Chief Executive
Officer on behalf of the Company that the conditions set forth in Sections 7.1, 7.2, 7.6 and 7.13 have
been duly satisfied;

 

(e)               
a statement in accordance with Treasury Regulation Sections 1.1445-2(c)(3) and 1.897-2(h) certifying that the Company
is not, and has not been, a “United States real property holding corporation” for purposes of Sections 897 and 1445
of the Code, duly executed by the Company;

 

(f)               
a certificate of the Secretary of the Company, certifying to (i) the incumbency and specimen signature of each officer
of the Company executing this Agreement and any other document executed on behalf of the Company, (ii) the organizational documents
of the Company, (iii) the resolutions of the Board of Directors of the Company approving and adopting this Agreement, the Transaction
Agreements and the transactions contemplated hereby and thereby, which shall not have been modified, revoked or rescinded as of
the Closing, and (iv) Company Stockholder Approval, which shall not have been modified, revoked or rescinded as of the Closing;

 

(g)              
a certificate of good standing with respect to the Company and each of its Subsidiaries, dated not more than five (5)
days prior to the Closing Date, from the state of Delaware and all states listed with respect to such Entity in Section 2.1
of the Schedule of Exceptions;

 

    	-40-

    	 

    
 

(h)              
written resignations of all directors of the Company and of each Subsidiary, effective as of the Closing Date;

 

(i)                
executive employment agreements between the Company and each of the Company Executives, each in form acceptable to Parent
(collectively, the “Employment Agreements”); and

 

(j)                
a waiver executed and delivered by each “disqualified person” within the meaning of Section 280G of the
Code entitled to any Excess Payments, pursuant to which each such Person has agreed to waive any right or entitlement to any Excess
Payments unless any requisite stockholder approval of those payments and benefits are obtained, together with an approval of such
Excess Payments by the stockholders of the Company in a manner satisfying all applicable requirements of Section 280G(b)(5)(B)
of the Code and the Treasury Regulations thereunder, in each case in form and substance reasonably satisfactory to Parent.

 

7.6             
Absence of Material Adverse Effect. There shall not have occurred any Material Adverse Effect on the Company,
and no event shall have occurred or circumstance shall exist that, in combination with any other events or circumstances, would
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the Company.

 

7.7             
Backstop Agreement. The Backstop Agreement shall remain in full force and effect, and PAR shall have complied
in all material respects with its obligations under the Backstop Agreement.

 

7.8             
AIA Transactions. The transactions contemplated by the AIA Transaction Agreements shall be consummated.

 

7.9             
HSR Act. All waiting periods applicable to the Merger and the other transactions contemplated by this Agreement
and the Transaction Agreements under the HSR Act shall have expired or been terminated.

 

7.10         
No Restraints. No temporary restraining order, preliminary or permanent injunction or other order preventing
the consummation of the Merger shall have been issued by any court of competent jurisdiction and remain in effect, and there shall
not be any Legal Requirement enacted or deemed applicable to the Merger that makes consummation of the Merger illegal or otherwise
preventing or prohibiting consummation of the transactions contemplated hereby.

 

7.11         
No Legal Proceedings; Bankruptcy. No Governmental Body or other Person shall have commenced or threatened
to commence any Legal Proceeding (a) challenging or seeking the recovery of a material amount of damages in connection with the
Merger or (b) seeking to prohibit or limit the exercise by Parent of any material right pertaining to its ownership of stock of
Merger Sub or the Company.

 

    	-41-

    	 

    
 

7.12         
Appraisal Rights. Company Stockholders holding no more than 5.0% of the outstanding shares of Company Capital
Stock on a fully-diluted basis shall have exercised or otherwise perfected their rights of appraisal pursuant to applicable law
with respect to such shares.

 

7.13         
Company Stockholder Approval. The Company Stockholder Approval shall have been obtained.

  

	 	Section 8.	Conditions Precedent to Obligations of the Company

  

The obligations of
the Company to effect the Merger and otherwise consummate the transactions contemplated by this Agreement are subject to the satisfaction
(or waiver by the Company), at or prior to the Closing, of the following conditions:

 

8.1             
Accuracy of Representations. 

 

(a)              
All of Parent’s and Merger Sub’s representations and warranties in this Agreement that contain “material
adverse effect” or other “materiality” or similar qualifications shall have been accurate in all respects as
of the date of this Agreement and as of the Closing Date as if made on and as of the Closing Date.

 

(b)              
All of Parent’s and Merger Sub’s representations and warranties in this Agreement that do not contain “material
adverse effect” or other “materiality” or similar qualifiers shall have been accurate in all material respects
as of the date of this Agreement and as of the Closing Date as if made on and as of the Closing Date.

 

8.2             
Performance of Covenants. All of the covenants and obligations that Parent and Merger Sub are required to comply
with or to perform at or prior to the Closing shall have been complied with and performed in all material respects. 

 

8.3             
Share Redemptions. Parent shall not have redeemed or otherwise be obligated to redeem Parent Shares in an amount
that is greater than the Maximum Redemption Amount.

 

8.4             
Parent Stockholder Approval. The Required Parent Vote shall have been obtained.

 

8.5             
Agreements and Documents. The Company shall have received the following documents each of which shall be in full
force and effect:

 

(a)              
the Registration Rights Agreement executed by Parent and Parent’s Sponsor;

 

(b)              
the Escrow Agreement executed by Parent and the Escrow Agent;

 

(c)               
a certificate executed by an officer of Parent containing the representation of such officer that the conditions set
forth in Sections 8.1, 8.2, and 8.4 have been duly satisfied;

 

    	-42-

    	 

    
 

(d)              
a certificate of the Secretary of each of Parent and Merger Sub, certifying to (i) the incumbency and specimen signature
of each officer of Parent or Merger Sub, as applicable, executing this Agreement and any other document executed on behalf of Parent
or Merger Sub, as applicable, (ii) the organizational documents of Parent or Merger Sub, as applicable, (iii) the resolutions of
the Board of Directors of Parent and Merger Sub, as applicable, approving and adopting this Agreement, the Transaction Agreements
to which such Entity is a party and the transactions contemplated hereby and thereby, which shall not have been modified, revoked
or rescinded as of the Closing, and (iv) the Required Parent Vote, which shall not have been modified, revoked or rescinded as
of the Closing; and

 

(e)               
a certificate of good standing with respect to Merger Sub, dated not more than five (5) days prior to the Closing Date,
from the state of Delaware.

 

8.6             
AIA Transactions. The transactions contemplated by the AIA Transaction Agreements shall be consummated.

 

8.7             
HSR Act.  All waiting periods applicable to the Merger and the other transactions contemplated by this Agreement
and the Transaction Agreements under the HSR Act shall have expired or been terminated.

 

8.8             
No Restraints. No temporary restraining order, preliminary or permanent injunction or other order preventing
the consummation of the Merger shall have been issued by any court of competent jurisdiction and remain in effect, and there shall
not be any Legal Requirement enacted or deemed applicable to the Merger that makes consummation of the Merger illegal or otherwise
preventing or prohibiting consummation of the transactions contemplated hereby. 

 

8.9             
No Legal Proceedings; Bankruptcy. No Governmental Body or other Person shall have commenced or threatened
to commence any Legal Proceeding (a) challenging or seeking the recovery of a material amount of damages in connection with the
Merger or (b) seeking to prohibit or limit the exercise by Parent of any material right pertaining to its ownership of stock of
Merger Sub or the Company.

 

8.10         
Trust Account. Parent shall have made appropriate arrangements to have all Trust Account funds disbursed to Parent
as promptly as practicable following the Closing, and the amount of such funds, assuming, solely for the purposes of this condition,
that Parent shall not have redeemed, nor have any obligation to redeem, any shares of Parent Common Stock in connection with the
transactions hereby, shall be no less than $169,643,330.90.

 

8.11         
Company Stockholder Approval. The Company Stockholder Approval shall have been obtained.

 

8.12         
Restated Parent Organizational Documents. The certificate of incorporation of Parent shall be amended and restated
in the form attached hereto as Exhibit H, and the bylaws of Parent shall be amended and restated in the form attached hereto as
Exhibit I.

 

    	-43-

    	 

    
  

	 	Section 9.	Termination

  

9.1             
Termination Events. This Agreement may be terminated at any time prior to the Effective Time (whether
before or after the Company Stockholder Approval or Required Parent Vote has been obtained):

 

(a)              
by mutual written consent of Parent and the Company;

 

(b)              
by either Parent or the Company if the Merger shall not have been consummated by February 18, 2013 (the “Outside
Date”) (unless the failure to consummate the Merger is attributable to a failure on the part of the party seeking
to terminate this Agreement to perform any material obligation required to be performed by such party at or prior to the Effective
Time);

 

(c)               
by either Parent or the Company if a court of competent jurisdiction or other Governmental Body shall have issued a
final and nonappealable order, decree or ruling, or shall have taken any other action, having the effect of permanently restraining,
enjoining or otherwise prohibiting the Merger;

 

(d)              
by Parent if the Parent Stockholders shall have taken a final vote on the principal terms of the Merger and the adoption
of this Agreement, and the Required Parent Vote has not been received;

 

(e)               
by Parent if any of the Company’s representations and warranties contained in this Agreement shall have been inaccurate
in any material respect as of the date of this Agreement or shall have become inaccurate in any material respect as of any subsequent
date (as if made on such subsequent date), or if any of the Company’s covenants contained in this Agreement shall have been
breached in any material respect; provided, however, that Parent may not terminate this Agreement under this Section
9.1(e) on account of an inaccuracy in the Company’s representations and warranties or on account of a breach of a covenant
by the Company unless such inaccuracy or breach (if curable) is not cured by the Company within ten (10) calendar days after receiving
written notice from Parent of such inaccuracy or breach;

 

(f)               
by the Company if any of Parent’s or Merger Sub’s representations and warranties contained in this Agreement
shall have been inaccurate in any material respect as of the date of this Agreement or shall have become inaccurate in any material
respect as of any subsequent date (as if made on such subsequent date), or if any of Parent’s or Merger Sub’s covenants
contained in this Agreement shall have been breached in any material respect; provided, however, that the Company may not
terminate this Agreement under this Section 9.1(f) on account of an inaccuracy in Parent’s or Merger Sub’s representations
and warranties or on account of a breach of a covenant by Parent or Merger Sub (ii) unless such inaccuracy or breach (if curable)
is not cured by Parent within 15 calendar days after receiving written notice from the Company of such inaccuracy or breach;

 

(g)              
by Parent if the Company has breached Section 4.4;

 

(h)              
by the Company if Parent has breached Section 5.4.; or

 

    	-44-

    	 

    
 

(i)                
by either Parent or the Company if the Company has not delivered the Company Stockholder Approval within three (3) business
days following the Execution Date.

 

9.2             
Termination Procedures. If Parent wishes to terminate this Agreement pursuant to Sections 9.1(b),
9.1(c), 8.1(d), 9.1(e), 9.1(g) or (9.1)(i), then Parent shall deliver to the Company a written
notice stating that Parent is terminating this Agreement and setting forth a brief description of the basis on which Parent is
terminating this Agreement. If the Company wishes to terminate this Agreement pursuant to Sections 9.1(b), 9.1(c),
9.1(f), 9.1(h) or 9.1(i), then the Company shall deliver to Parent a written notice stating that the Company
is terminating this Agreement and setting forth a brief description of the basis on which it is terminating this Agreement.

 

9.3             
Fees Payable by the Company.  If this Agreement is terminated by Parent pursuant to Section 9.1(g) then,
concurrently with the consummation of an Alternative Transaction by the Company on or prior to the Outside Date, the Company shall
pay to Parent the Termination Payment by wire transfer of immediately available funds to a bank account designated by Parent.

 

9.4             
Fees Payable by Parent. If this Agreement is terminated by the Company pursuant to Section 9.1(h) then,
concurrently with the execution of a term sheet, memorandum of understanding or Agreement with a Target on or prior to the Outside
Date, Parent shall pay the Termination Payment to the Company by wire transfer of immediately available funds to a bank account
designated thereby.

 

9.5             
Effect of Termination. If this Agreement is terminated pursuant to Sections 9.1 or 9.2,
all further obligations of the parties under this Agreement, other than with respect to payment of the Termination Payment under
either Section 9.3 or 9.4, shall terminate without any liability of any party hereto or any of their respective affiliates
or their respective directors, officers, stockholders, members, managers, partners, employees, agents or representatives, provided,
that (a) none of the parties shall be relieved of any obligation or liability arising from any prior willful breach by such
party of any provision of this Agreement, and (b) the parties shall, in all events, remain bound by and continue to be subject
to the provisions set forth in Section 11.

 

	 	Section 10.	Indemnification, Etc.

  

10.1         
Survival of Representations, Etc.

 

(a)              
Subject to Section 10.1(b), the representations and warranties of the Company, Parent and Merger Sub contained
in this Agreement shall survive the Closing and shall expire on the eighteen (18) month anniversary of the Closing Date (the “Expiration
Date”), provided, however, that if, at any time prior to the Expiration Date, any Parent Indemnified Party
(acting in good faith) delivers to the Stockholders’ Agent, or Stockholders’ Agent (acting in good faith) delivers
to Parent, a written notice alleging the existence of an inaccuracy in or a breach of any of the representations or warranties
of the Company, Parent or Merger Sub (and setting forth in reasonable detail the basis for such Indemnified Party’s belief
that such an inaccuracy or breach may exist) and asserting a claim for recovery under Section 10.2 or Section 10.6
based on such alleged inaccuracy or breach, then the claim asserted in such notice shall survive the Expiration Date until such
time as such claim is fully and finally resolved.

 

    	-45-

    	 

    
 

(b)              
The limitations set forth in Section 10.1(a) shall not apply in the case of claims based upon fraud or willful
misconduct.

 

(c)               
The covenants and other agreements by each of the parties contained in this Agreement shall survive the consummation
of the Merger until they are otherwise terminated, whether by their terms or as a matter of applicable law.

 

10.2         
Indemnification.

 

(a)              
From and after the Closing Date, the Merger Stockholders, severally but not jointly, shall hold harmless and indemnify
each of each of Parent, Merger Sub and their Affiliates, and each of their respective officers, directors, employees, agents and
representatives (each, a “Parent Indemnified Party,” and, collectively, the “Parent Indemnified
Parties”) from and against, and shall compensate and reimburse each of the Parent Indemnified Parties for, any Damages
that are directly or indirectly suffered or incurred by any of the Parent Indemnified Parties or to which any of the Parent Indemnified
Parties may otherwise become subject (regardless of whether or not such Damages relate to any third-party claim) that arise from
or as a result of, or are directly or indirectly connected with: (i) any inaccuracy in or breach of any representation or warranty
made by the Company in this Agreement or the Schedule of Exceptions as of the date of this Agreement, (ii) any inaccuracy in or
breach of any representation or warranty set forth (A) in Section 2 or the Schedule of Exceptions as if such representation
and warranty had been made on and as of the Closing Date, or (B) in any other document, certificate or other instrument delivered
to Parent or Merger Sub in connection with the transactions contemplated hereby, (iii) any breach of any covenant or obligation
of the Company set forth in this Agreement (including the covenants set forth in Sections 4 and 6) or the Transaction
Agreements, (iv) the exercise by any Company Stockholder of rights of appraisal or dissent under Section 262 of the DGCL or
any other applicable law, (v) any Indebtedness to the extent not included in the calculation of the adjustments to the Total Merger
Shares set forth in Section 1.14(b), and (vi) any claim, objection or dispute by any Company Stockholder with respect to
or arising from the Spreadsheet.

 

(b)              
From and after the Closing Date, Parent shall hold harmless and indemnify the Merger Stockholders and their Affiliates,
and each of their respective officers, directors, employees, agents and representatives (each, a “Company Indemnified
Party,” and, collectively, the “Company Indemnified Parties”), from and against all Damages
that are directly suffered or incurred by any of the Company Indemnified Parties or to which any of the Company Indemnified Parties
may otherwise be subject (regardless of whether or not such Damages relate to any third-party claim) that arise from or as a result
of, or are directly or indirectly connected with: (i) any inaccuracy in or breach of any representation or warranty made by Parent
or Merger Sub contained in this Agreement or the Parent Schedule or Exceptions as of the date of this Agreement, (ii) any inaccuracy
in or breach of any representation or warranty set forth (A) in Section 3 or the Parent Schedule of Exceptions as if such
representation and warranty had been made on and as of the Closing Date, or (B) in any other document, certificate or other instrument
delivered by Parent or Merger Sub to the Company in connection with the transactions contemplated hereby, and (iii) any breach
of any covenant or obligation of Parent or Merger Sub contained in this Agreement (including the covenants set forth in Sections
5 and 6) or the Transaction Agreements.

 

    	-46-

    	 

    
 

(c)               
Limitations.

 

(i)                
The Parent Indemnified Parties shall not be entitled to any payment of any amount under Section 10.2(a) after such time
as the aggregate of all Damages that the Parent Indemnified Parties may have under Section 10.2(a) exceed the value of the Escrow
Shares, valued at the Parent Share Price (such amount, the “Cap”).

 

(ii)              
The Parent Indemnified Parties shall not be entitled to any payment of any amount under Section 10.2(a)(i) or
(ii) (other than for breaches of Fundamental Representations) until such time as the total amount of all such Damages that
have been directly or indirectly suffered or incurred by any one or more of the Parent Indemnified Parties, or to which any one
or more of the Parent Indemnified Parties has or have otherwise become subject, exceeds, in the aggregate, the Threshold Amount,
in which event the Parent Indemnified Parties shall be entitled to all such Damages, including the Threshold Amount. For purposes
of this Agreement, the “Threshold Amount” means $2.5 million.

 

(iii)            
The Company Indemnified Parties shall not be entitled to any payment of any amount under Section 10.2(b) after
such time as the aggregate of all Damages that the Company Indemnified Parties may have under Section 10.2(b) exceed the
Cap.

 

(iv)            
The Company Indemnified Parties shall not be entitled to any payment of any amount under Section 10.2(b)(i) or
(ii) (other than for breaches of Fundamental Representations) until such time as the total amount of all such Damages that
have been directly or indirectly suffered or incurred by any one or more of the Company Indemnified Parties, or to which any one
or more of the Company Indemnified Parties has or have otherwise become subject, exceeds, in the aggregate, the Threshold Amount,
in which event the Company Indemnified Parties shall be entitled to all such Damages, including the Threshold Amount.

 

(d)              
The limitations set forth in Section 10.2(c) shall not apply in the case of claims based upon fraud or willful
misconduct, in which case the maximum liability of each Merger Stockholder to the Parent Indemnified Parties shall be limited to
the value of 100% of the Merger Consideration, valued using the Parent Share Price, such Merger Stockholder has received pursuant
to the provisions of Section 1.5 (the “Aggregate Overall Cap”), and the maximum liability of Parent
to the Company Indemnified Parties shall be limited to the Aggregate Overall Cap.

 

(e)               
Each Indemnified Party will take and will cause their respective Affiliates to take all reasonable steps to mitigate
and otherwise minimize any Damage to the maximum extent reasonably possible upon and after becoming aware of any event which would
reasonably be expected to give rise to any Damage.

 

    	-47-

    	 

    
 

(f)               
Notwithstanding anything to the contrary contained in this Section 10 (but in any case subject to Section 10.3), except
with respect to claims of fraud or willful misconduct, the Parent Indemnified Parties’ sole and exclusive source of indemnification
under this Section 10 shall be the Escrow Account by making a claim pursuant to the terms of the Escrow Agreement. In addition,
subject to Section 10.3, Parent Indemnified Parties may not pursue an indemnification claim under this Section 10
for fraud or willful misconduct against any Merger Stockholder individually, unless and only to the extent that all of the proceeds
of the Escrow Account have been released or are the subject of a previous claim by a Parent Indemnified Party.

 

10.3         
Exclusivity of Indemnification Remedies. With the exception of (a) claims based upon fraud or willful misconduct
and subject to Section 10.2(d) and (b) claims for breach of any Letter of Transmittal or Option Holder Letter of Transmittal
(which such claim may be made solely against the breaching Merger Stockholder or holder of Company Options, as the case may be),
the right of any Parent Indemnified Party to assert claims for indemnification and to receive indemnification pursuant to this
Section 10 shall, after the Closing, be such Person’s sole and exclusive remedy for monetary Damages with respect
to any breach of the representations, warranties and covenants contained in this Agreement. The exercise by any Person of any of
its rights under this Section 10 shall not be deemed to be an election of remedies and shall not be deemed to prejudice,
or to constitute or operate as a waiver of, any injunctive or other equitable right, remedy or relief that such Person may be entitled
to exercise.

 

10.4         
No Contribution. Upon consummation of the Merger, each Merger Stockholder will be deemed to have waived any right
of contribution, right of indemnity or other right or remedy against Merger Sub, the Company and each of its Subsidiaries in connection
with any indemnification obligation or any other liability to which he, she or it may become subject under or in connection with
this Agreement.

 

10.5         
Defense of Third Party Claims. 

 

(a)              
In order for a Parent Indemnified Party or a Company Indemnified Party (each, an “Indemnified Party”)
to be entitled to any indemnification provided for under this Agreement in respect of, arising out of or involving any Damages
or demand made by any person against the Indemnified Party (a “Third Party Claim”), such Indemnified
Party shall deliver notice thereof to the Stockholders’ Agent, or to Parent, as applicable (the “Indemnifying
Party”); provided, that no delay or failure on the part of an Indemnified Party in notifying the Stockholders’
Agent or Parent, as the case may be, shall relieve an Indemnifying Party from its obligations hereunder unless the Indemnifying
Party is thereby materially prejudiced (and then solely to the extent of such prejudice).

 

(b)              
The Indemnifying Party shall have the right, upon written notice to the Indemnified Party within fifteen (15) days of receipt
of notice from the Indemnified Party of the commencement of such Third Party Claim, to assume the defense thereof at the expense
of the Indemnifying Party with counsel selected by the Indemnifying Party and reasonably satisfactory to the Indemnified Party.
If the Indemnifying Party does not expressly elect to assume the defense of such Third Party Claim within the time period set forth
in this Section 10.5(b), the Indemnified Party shall have the sole right to assume the defense of and to settle such Third
Party Claim. If the Indemnifying Party assumes the defense of any Third Party Claim, the Indemnified Party shall, at the Indemnifying
Party’s expense, cooperate with the Indemnifying Party in such defense and make available to the Indemnifying Party all witnesses,
pertinent records, materials and information in the Indemnified Party’s possession or under the Indemnified Party’s
control relating thereto as is reasonably required by the Indemnifying Party. If the Indemnifying Party assumes the defense of
any Third Party Claim, the Indemnifying Party shall not, without the prior written consent of the Indemnified Party (not to be
unreasonably withheld, conditioned or delayed), enter into any settlement or compromise or consent to the entry of any judgment
with respect to such Third Party Claim if such settlement, compromise or judgment (i) involves a finding or admission of wrongdoing,
(ii) does not include an unconditional written release by the claimant or plaintiff of the Indemnified Party from all liability
in respect of such Third Party Claim or (iii) imposes equitable remedies or any obligation on the Indemnified Party other than
solely the payment of money damages for which the Indemnified Party will be indemnified hereunder.

 

    	-48-

    	 

    
 

10.6         
Claims Relating to Securities. If (a) prior to the Effective Time, any Person asserts or commences, or threatens
to assert or commence, a claim or Legal Proceeding on the basis that such Person is entitled to acquire or receive, or is the owner
of, shares of Company Capital Stock or securities convertible into shares of Company Capital Stock, and (b) notwithstanding such
claim or Legal Proceeding the Closing occurs, then (i) the shares or other securities that are the basis of such claim or Legal
Proceeding shall be deemed to be outstanding for purposes of determining the Share Exchange Ratio; (ii) Parent shall not be required
to issue or deliver any shares of Parent Common Stock in respect of such claim or Legal Proceeding (or the shares or other securities
forming the basis of such claim or Legal Proceeding) until such claim or Legal Proceeding is finally resolved or settled, which
settlement shall not be entered into without the prior written consent of the Stockholders’ Agent (which consent shall not
be unreasonably withheld); and (iii) after such claim or Legal Proceeding is finally resolved, any shares of Parent Common Stock
being held by Parent in respect of such claim or Legal Proceeding that are not delivered to the Person making such claim or Legal
Proceeding or otherwise retained by Parent in accordance with this Section 10.6 shall be distributed to the Merger Stockholders
and the Escrow Agent as if such shares were issuable at the Closing in accordance with Section 1. If a claim or Legal Proceeding
of the type referred to in this Section 10.6 is settled by the payment of cash, Parent shall be entitled to retain pursuant
to this Section 10.6, a number of shares of Parent Common Stock determined by dividing (A) the sum of (1) the amount of
cash payable to the Person who asserted such claim or Legal Proceeding in respect of the settlement of such claim or Legal Proceeding
and (2) the amount of any legal fees and other expenses incurred by Parent or its Subsidiary in connection with such claim or Legal
Proceeding, by (B) the Parent Stock Price.

 

10.7         
Security Interest in Escrow.

 

(a)              
As collateral security for the prompt and complete payment and performance when due of each of the Merger Stockholders’
indemnification, reimbursement and compensation obligations to each Parent Indemnified Party pursuant to this Section 10,
and in order to induce Parent to enter into this Agreement, each Merger Stockholder hereby grants to Parent a security interest
in all of the Merger Stockholder’s right, title and interest in and to the Escrow Shares and the Escrow Account (as defined
in the Escrow Agreement) and all accessions to, substitutions and replacements for, and proceeds thereof. At any time and from
time to time, upon the written request of Parent, and at the sole expense of the Merger Stockholders, the Company shall promptly
and duly execute and deliver any and all such further instruments and documents and take such further action as Parent may reasonably
deem desirable to obtain the full benefits of the security interest granted hereby, including, (a) executing, delivering and
causing to be filed any financing or continuation statements (including “in lieu” continuation statements) under the
applicable Uniform Commercial Code with respect to the security interests granted hereby, and (b) executing and delivering and
causing the Escrow Agent, or any other applicable depository institution, securities intermediary or commodity intermediary, to
execute and deliver a collateral control agreement in order to perfect the security interest created hereunder in favor of Parent
(including giving Parent “control” over such Collateral within the meaning of the applicable provisions of Article 8
and Article 9 of the UCC). Each Company Stockholder also hereby authorizes Parent to file any such financing or continuation
statement (including “in lieu” continuation statements) without the signature of such Merger Stockholder.

 

    	-49-

    	 

    
 

(b)              
So long as no Parent Indemnified Party has given a Claim Notice (as defined in the Escrow Agreement) containing a Claim (as
defined in the Escrow Agreement) which has not been resolved prior to the Termination Date (as defined in the Escrow Agreement),
then upon the Termination Date the security interest granted under this Section 10.7 shall terminate and Parent shall release
all of its interest in and to the Escrow Shares and the Escrow Account. In the event such a Claim has not been resolved prior to
the Termination Date, the security interest granted under this Section 10.7 shall continue until such time as the Claim
is resolved in accordance with the Escrow Agreement, at which time the security interest granted under this Section 10.7
shall terminate and Parent shall release all of its interest in and to the Escrow Shares and the Escrow Account. Upon such termination
of the security interest granted under this Section 10.7, Parent shall execute such terminations of any financing statements
or other documents required to evidence such termination of the security interest.

 

10.8         
Release of Escrow Shares to Satisfy Indemnification Claims. Subject to the terms of the Escrow Agreement, in the event
that any Parent Indemnified Party is entitled to indemnification pursuant to this Section 10, the Parent Indemnified Party
may, upon written notice to the Stockholders’ Agent, direct the Escrow Agent to release and transfer to Parent the number
of Escrow Shares having an aggregate value on the date thereof equal to the amount owed to the Parent Indemnified Party pursuant
to this Section 10 in satisfaction of such claim. For purposes hereof, the value of each Escrow Share shall be equal to
the Parent Share Price.

 

10.9         
Materiality. Notwithstanding anything contained herein to the contrary, for purposes of determining the amount of Damages
that are the subject matter of a claim for indemnification or reimbursement hereunder, each representation and warranty in this
Agreement, the Schedule of Exceptions, the Parent Schedule of Exceptions and exhibits hereto shall be read without regard and without
giving effect to the term “material,” “Material Adverse Effect” or similar phrases contained in such representation
and warranty (i.e., as if such words or phrases were deleted from such representation and warranty.

 

10.10     
Effect of Investigation. The right to indemnification, payment of Damages of a Parent Indemnified Party or other remedies
of Parent or any other Parent Indemnified Party based on any representation, warranty, covenant or obligation of the Company contained
in or made pursuant to this Agreement, in the Schedule of Exceptions or exhibits hereto shall not be affected or deemed waived
by any investigation conducted with respect to, or any knowledge acquired (or capable of being acquired) at any time, with respect
to the accuracy or inaccuracy of or compliance with, any such representation, warranty, covenant or obligation.

 

    	-50-

    	 

    
 

	 	Section 11.	Miscellaneous Provisions

 

11.1         
Stockholders’ Agent.

 

(a)              
By virtue of the approval of this Agreement and the Merger, the Stockholders will appoint PAR as the Stockholders’ Agent
for purposes of Sections 1.14(b) and 10 to give and receive notices and communications, to execute and deliver
the Escrow Agreement, to authorize delivery to Parent Indemnified Party of Parent Common Stock, cash or other property under the
Escrow Agreement, to agree to, negotiate, enter into settlements and compromises of indemnification, reimbursement or compensation
claims, and to take all other actions necessary or appropriate to act on behalf of the Stockholders under this Agreement. PAR hereby
accepts its appointment as the Stockholders’ Agent. Parent shall be entitled to deal exclusively with the Stockholders’
Agent on all matters relating to Sections 1.14(b) and 10, and shall be entitled to rely conclusively (without further
evidence of any kind whatsoever) on any document executed or purported to be executed on behalf of any Stockholder by the Stockholders’
Agent, and on any other action taken or purported to be taken on behalf of any Stockholder by the Stockholders’ Agent, as
fully binding upon such Stockholder. Notices or communications to or from the Stockholders’ Agent shall constitute notice
to or from each of the Stockholders.

 

(b)              
The Stockholders’ Agent shall not be liable for any act done or omitted hereunder as the Stockholders’ Agent while
acting in good faith and in the exercise of reasonable judgment. The Merger Stockholders shall, jointly and severally, indemnify
the Stockholders’ Agent and hold the Stockholders’ Agent harmless against any loss, liability or expense incurred without
gross negligence, bad faith or willful misconduct on the part of the Stockholders’ Agent and arising out of or in connection
with the acceptance or administration of the Stockholders’ Agent’s duties hereunder, including the reasonable fees
and expenses of any legal counsel or other professional retained by the Stockholders’ Agent.

 

(c)               
All actions, decisions and instructions of the Stockholders’ Agent taken, made or given pursuant to the authority granted
pursuant to this Section 11.1 shall be final, conclusive and binding upon each Stockholder, and no Stockholder shall have
the right to object, dissent, protest or otherwise contest the same.

 

(d)              
The provisions of this Section 11.1 are independent and severable, shall constitute an irrevocable power of attorney,
coupled with an interest and surviving death or dissolutions, granted by the Stockholders to the Stockholders’ Agent and
shall be binding upon the executors, heirs, legal representatives, successors and assigns of each such Stockholder.

 

11.2         
Further Assurances. Each party hereto shall execute and cause to be delivered to each other party hereto such
instruments and other documents, and shall take such other actions, as such other party may reasonably request (prior to, at or
after the Closing) for the purpose of carrying out or evidencing any of the transactions contemplated by this Agreement.

 

    	-51-

    	 

    
 

11.3         
Fees and Expenses. Following the Closing and upon release of the Parent Trust Account, Parent shall bear and
pay all fees, costs and expenses (including legal fees and accounting fees) that have been incurred or that are incurred by Parent,
the Company and PAR in connection with the transactions contemplated by this Agreement, including, without limitation, all fees,
costs and expenses incurred by Parent, the Company and PAR in connection with or by virtue of (a) the investigation and review
conducted each such Person and its Representatives with respect to the Company’s business (and the furnishing of information
to Parent and its Representatives in connection with such investigation and review), (b) the negotiation, preparation and review
of this Agreement (including the Schedule of Exceptions and the Parent Schedule of Exceptions) and all agreements, certificates,
opinion and other instruments and documents delivered or to be delivered in connection with the transactions contemplated by this
Agreement, (c) the preparation and submission of any filing or notice required to be made of given in connection with any of the
transactions contemplated by this Agreement, and (d) the consummation of the Merger.

 

11.4         
Attorneys’ Fees. If any action or proceeding relating to this Agreement or the enforcement of any provision
of this Agreement is brought against any party hereto, the prevailing party shall be entitled to recover reasonable attorneys’
fees, costs and disbursements (in addition to any other relief to which the prevailing party may be entitled).

 

11.5         
Notices. Any notice or other communication required or permitted to be delivered to any party under this Agreement
shall be in writing and shall be deemed properly delivered, given and received (a) when delivered by hand, or (b) two business
days after such notice is sent by registered mail, by courier or express delivery service or by facsimile, in each case to the
address or facsimile telephone number set forth beneath the name of such party below (or to such other address or facsimile telephone
number as such party shall have specified in a written notice given to the other parties hereto):

 

if to Parent or Merger Sub:

 

Global Eagle Acquisition Corp.

10900 Wilshire Blvd., Suite 1500

Los Angeles, CA 90024

Attention: Chief Executive Officer

Facsimile: (310) 209-7225

 

with a copy to:

 

McDermott Will & Emery LLP

340 Madison Avenue

New York, NY 10173-1922

Attention: Joel Rubinstein, Esq.

Facsimile: 212-547-5444

 

    	-52-

    	 

    
 

if to the Company:

 

Row 44, Inc.

4353 Park Terrance Drive, Suite 100

Westlake Village, CA 91361

Attention: General Counsel

Facsimile: 818-706-9431

 

with a copy to:

 

Strategic Law Partners, LLP

500 South Grand Avenue, Suite 2050

Los Angeles, CA 90071

Attention: Timothy F. Silvestre, Esq.

Facsimile: 213-213-7301

 

If to PAR:

 

PAR Investment Partners, L.P.

One International Place, Suite 2401

Boston, MA 02110

Attention: Chief Operating Officer and General Counsel

Facsimile: 617-556-8875

 

with a copy to:

 

Robert P. Whalen , Esq.

Goodwin Procter LLP

Exchange Place

Boston, MA 02109

Facsimile: 617-523-1231

 

11.6         
Time of the Essence. For the purposes of this Agreement and the transactions contemplated by this Agreement,
time is of the essence.

 

11.7         
Headings. The underlined headings contained in this Agreement are for convenience of reference only, shall
not be deemed to be a part of this Agreement and shall not be referred to in connection with the construction or interpretation
of this Agreement.

 

11.8         
Counterparts. This Agreement may be executed in several counterparts, each of which shall constitute an
original and all of which, when taken together, shall constitute one agreement.

 

11.9         
Governing Law; Venue. This Agreement shall be construed in accordance with, and governed in all respects
by, the laws of the State of New York (without giving effect to principles of conflicts of laws). Any Legal Proceeding relating
to this Agreement or the enforcement of any provision of this Agreement may be brought or otherwise commenced in any federal or
state court located in New York, New York. Parent and the Company: (a) expressly and irrevocably consent and submit to the jurisdiction
of each federal and state court located in New York, New York in connection with any such Legal Proceeding; (b) agree that service
of any process, summons, notice or document by U.S. mail addressed to Parent or the Company at the address set forth in Section
11.5 shall constitute effective service of such process, summons, notice or document for purposes of any such Legal Proceeding;
(c) agree that each federal or state court located in New York, New York, shall be deemed to be a convenient forum; and (d) agree
not to assert (by way of motion, as a defense or otherwise), in any such Legal Proceeding commenced in any federal or state court
located in New York, New York any claim that such party is not subject personally to the jurisdiction of such court, that such
Legal Proceeding has been brought in an inconvenient forum, that the venue of such action or proceeding is improper or that this
Agreement or the subject matter of this Agreement may not be enforced in or by such court.

 

    	-53-

    	 

    
 

11.10     
Successors and Assigns; Assignment. This Agreement shall be binding upon each of the parties hereto and
each of their successors and permitted assigns, if any. This Agreement shall not be assigned by any party hereto, by operation
of law or otherwise, without the prior written consent of the other parties hereto.

 

11.11     
Remedies Cumulative; Specific Performance. The rights and remedies of the parties hereto shall be cumulative
(and not alternative). The parties to this Agreement agree that, in the event of any breach or threatened breach by any party to
this Agreement of any covenant, obligation or other provision set forth in this Agreement for the benefit of any other party to
this Agreement, such other party shall be entitled (in addition to any other remedy that may be available to it) to (a) a
decree or order of specific performance or mandamus to enforce the observance and performance of such covenant, obligation or other
provision and (b) an injunction restraining such breach or threatened breach. The parties further agree that no Indemnitee
or other Person shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition
to obtaining any remedy referred to in Section 10, and each party hereto irrevocably waives any right it may have to require any
Indemnitee or other Person to obtain, furnish or post any such bond or similarly instrument.

 

11.12     
Waiver. No failure on the part of any Person to exercise any power, right, privilege or remedy under this Agreement,
and no delay on the part of any Person in exercising any power, right, privilege or remedy under this Agreement, shall operate
as a waiver of such power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or
remedy shall preclude any other or further exercise thereof or of any other power, right, privilege or remedy. No Person shall
be deemed to have waived any claim arising out of this Agreement, or any power, right, privilege or remedy under this Agreement,
unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a written instrument duly executed
and delivered on behalf of such Person; and any such waiver shall not be applicable or have any effect except in the specific instance
in which it is given.

 

11.13     
Amendments. This Agreement may not be amended, modified, altered or supplemented other than by means of
a written instrument duly executed and delivered on behalf of all of the parties hereto.

 

11.14     
Severability. In the event that any provision of this Agreement, or the application of any such provision
to any Person or set of circumstances, shall be determined to be invalid, unlawful, void or unenforceable to any extent, the remainder
of this Agreement, and the application of such provision to Persons or circumstances other than those as to which it is determined
to be invalid, unlawful, void or unenforceable, shall not be impaired or otherwise affected and shall continue to be valid and
enforceable to the fullest extent permitted by law.

 

    	-54-

    	 

    
 

11.15     
Parties in Interest. Except for (a) the rights of the Company Stockholders set forth in Sections 1.5
and 1.7, (b) the rights of Parent Indemnified Parties and Company Indemnified Parties set forth in Section 10 and
(c) the rights of holders of Company Options set forth in Section 1.9(a)(i) and the rights of holders of Company Warrants
set forth in Section 1.9(b), none of the provisions of this Agreement is intended to provide any rights or remedies to any
Person other than the parties hereto and their respective successors and permitted assigns, if any.

 

11.16     
Entire Agreement. This Agreement and the other agreements referred to herein set forth the entire understanding
of the parties hereto relating to the subject matter hereof and thereof and supersede all prior agreements and understandings among
or between any of the parties relating to the subject matter hereof and thereof, including the Letter Agreement dated August 15,
2012 by and among the Company, Parent and PAR; provided, however, that the Mutual Nondisclosure Agreement, dated July 27,
2012, by and between Parent and the Company shall not be superseded by this Agreement and shall remain in effect in accordance
with its terms.

 

11.17     
Schedules of Exceptions. The Schedule of Exceptions and Parent Schedule of Exceptions shall be arranged in separate
parts corresponding to the numbered and lettered sections contained herein. The information disclosed in any numbered or lettered
part shall be deemed to relate to and to qualify only the particular representation or warranty set forth in the corresponding
numbered or lettered section in Sections 2 or 3, as the case may be (or as otherwise required to be set forth in
the Schedule of Exceptions or Parent Schedule of Exceptions pursuant to the terms of this Agreement), and shall not be deemed to
relate to or qualify any other representation or warranty made by such party hereunder unless such relationship or qualification
is reasonably apparent on the face of such disclosure.

 

11.18     
Waiver of Jury Trial. Each of the parties hereto hereby irrevocably waives any and all right to trial
by jury in any Legal Proceeding arising out of this Agreement or the transactions contemplated hereby.

 

11.19     
Release. Effective as of the Closing, each Company Stockholder, holder of Company Options and holder of Company
Warrants (collectively, the “Company Equityholders”), by virtue of accepting such number of shares of
Parent Common Stock to which such Company Equityholder is entitled hereunder, on behalf of himself, herself or itself and its,
his or her affiliates and each of its, his or her (as applicable) and their respective officers, directors, employees, agents,
successors and assigns (the “Releasing Parties”), hereby releases, acquits and forever discharges Parent,
the Company, Merger Sub, each of their respective affiliates, subsidiaries, and any and all of each of their respective successors
and assigns, together with all their present and former directors and officers (the “Released Parties”),
from any and all manner of claims, actions, suits, damages, demands and liabilities whatsoever in law or equity, whether known
or unknown, liquidated or unliquidated, fixed, contingent, direct or indirect (collectively, “Claims”),
which the Releasing Party ever had, has or may have against any of the Released Parties for, upon, or by reason of any matter,
transaction, act, omission or thing whatsoever arising under or in connection with any of the Released Parties, from any time prior
to and up to and including the Closing Date, with respect to such Person’s status as a stockholder of the Company. The foregoing
shall not constitute a release of claims or any other matter with respect to (i) receipt of such number of shares of Parent Common
Stock to which a Company Equityholder is entitled pursuant to the terms and conditions of this Agreement, as further set forth
in such Company Equityholder’s Letter of Transmittal or Option Holder Letter of Transmittal, as applicable, (ii) any of the
rights of a Company Equityholder or any obligations of the Released Parties to such Company Equityholder, in each case arising
under this Agreement, (iii) any of the rights of a Company Stockholder under the Charter Documents to indemnification from the
Company for actions or inactions by such Company Stockholder or any of its Affiliates as a director or officer of the Company,
(iv) if a Company Equityholder is an employee of the Company as of the Closing Date, any rights of such Company Equityholder to
payments in respect of such employment, including rights under any Company Plan identified on the Schedule of Exceptions in accordance
with the terms of such plan, and (v) any of the rights of a Company Stockholder or any of its Affiliates under or pursuant to written
commercial contracts with the Company set forth on the Schedule of Exceptions and unrelated to such Company Stockholder’s
status of a stockholder of the Company, and (vi) PAR’s rights under the Backstop Agreement, the Backstop Fee Agreement and
the AIA Transaction Agreements.

 

    	-55-

    	 

    
 

11.20     
Construction.

 

(a)              
For purposes of this Agreement, whenever the context requires: the singular number shall include the plural, and vice
versa; the masculine gender shall include the feminine and neuter genders; the feminine gender shall include the masculine and
neuter genders; and the neuter gender shall include the masculine and feminine genders.

 

(b)              
The parties hereto agree that any rule of construction to the effect that ambiguities are to be resolved against the
drafting party shall not be applied in the construction or interpretation of this Agreement.

 

(c)               
As used in this Agreement, the words “include” and “including,” and variations thereof, shall
not be deemed to be terms of limitation, but rather shall be deemed to be followed by the words “without limitation.”

 

(d)              
Except as otherwise indicated, all references in this Agreement to “Sections”, “Schedules” and
“Exhibits” are intended to refer to Sections of this Agreement and Schedules and Exhibits to this Agreement.

 

[Signature page follows]

 

    	-56-

    	 

    
 

The parties hereto
have caused this Agreement to be executed and delivered as of the date first written above.

 

	 	Global Eagle Acquisition Corp.,
	 	a Delaware corporation
	 	 
	 	By: /s/ James Graf___________________
	 	Name: James Graf
	 	Title: Vice President
	 	 
	 	EAGL Merger Sub Corp.,
	 	a Delaware corporation
	 	 
	 	By: /s/ James Graf___________________
	 	Name: James Graf
	 	Title: Treasurer and Secretary
	 	 
	 	Row 44, Inc.,
	 	a Delaware corporation
	 	 
	 	By: /s/ John La Valle__________________
	 	Name: John La Valle
	 	Title: Chief Executive Officer
	 	 
	 	Par Investment Partners, L.P.,
	 	as Stockholders’ Agent and on its own 

behalf solely for the purposes of Sections 

4.4, 4.6, 7.7 and 11 hereof
	 	 
	 	By: PAR Capital Management, Inc., its general partner
	 	 
	 	By: /s/ Steven M. Smith_________________
	 	Name: Steven M. Smith
	 	Title: Chief Operating Officer and General CounselExhibit 10.2

 

 

STOCK PURCHASE AGREEMENT

 

THIS STOCK PURCHASE AGREEMENT (“Agreement”)
dated as of November 8, 2012 is by and between PAR Investment Partners L.P., a Delaware limited partnership (“PAR”)
and Global Eagle Acquisition Corp., a Delaware corporation (“GE”).

 

WHEREAS, PAR owns 20,464,581 shares
of the common stock, consisting of 15,209,411 listed shares (ISIN DE0001262186/WKN 12628) and 5,255,170 not-listed shares (ISIN
DE000A1PHBP5/WKN A1PHBP), (the “Common Stock”) of Advanced Inflight Alliance AG, a German corporation (the “Company”);
and

 

WHEREAS, GE desires to purchase from
PAR and PAR desires to sell to GE the 20,464,581 shares of Common Stock of the Company held by PAR (the “Shares”),
upon the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration
of the mutual covenants, agreements, representations and warranties contained herein, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

		1.	PURCHASE AND SALE OF SHARES. Subject to the terms and conditions hereof and in reliance on the representations, warranties
and covenants contained herein and in the Execution Date AIA Certificate, GE will purchase from PAR, and PAR will sell, transfer
and convey to GE, the Shares (inclusive of all membership and ancillary rights arising out of, or relating to, the Shares, including,
without limitation, any dividend rights and any rights to any undistributed profits of the Company for the past financial year,
as well as to all distributable profits of the Company relating to the Shares for the current financial year) for a purchase price
equal to the Share Consideration (as defined below).  As used herein, the term “Share Consideration” means
that number of fully paid and non-assessable shares (the “GE Shares”) of non-voting common stock of GE, par
value $0.0001 per share as is equal to the quotient obtained by dividing (i) the AIA Value (as defined below) by (ii) US$10.00. 
As used herein, the term “AIA Value” means US$143,682,330.

 

		2.	CLOSING. The closing of the purchase and sale of the Shares (the “Closing”) shall take place at the
offices of McDermott Will & Emery LLP, located at 340 Madison Avenue, New York, NY 10173, as soon as practicable after the
satisfaction or waiver of all of the conditions set forth in Section 2.1, Section 2.2 and Section 2.3. At
the Closing, upon the terms and subject to the conditions of this Agreement, (i) PAR shall irrevocably instruct its depositary
bank pursuant to a letter in the form attached hereto as Exhibit A to transfer the Shares, free from any and all claims
for payment of outstanding contributions thereon and free and clear of any and all Liens by transfer of book-entry to a securities
account designated by GE for such purposes and (ii) GE shall deliver to PAR the GE Shares by book entry.

 

		2.1	General Conditions. The respective obligations of each party to consummate the transactions contemplated by this Agreement
are subject to the satisfaction, at or prior to the Closing, of each of the following conditions:

 

    	 

    	 

    
 

(i)                
The transactions contemplated by (A) that certain Agreement and Plan of Merger and Reorganization, dated as of the date
hereof, by and among GE, EAGL Merger Sub Corp., a Delaware corporation and wholly-owned subsidiary of the Company, Row 44, Inc.,
a Delaware Corporation, and PAR (the “Merger Agreement”), and (B) that certain Common Stock Purchase Agreement,
dated as of September 5, 2012, between GE and PAR, shall have been consummated.

 

(ii)              
No Governmental Body or other Person shall have commenced or threatened to commence any Legal Proceeding (a) challenging
or seeking the recovery of a material amount of damages in connection with the transactions contemplated by this Agreement, (b)
seeking to prohibit or limit the exercise by PAR of any material right pertaining to its ownership of the GE Shares, or (c) seeking
to prohibit or limit the exercise by GE of any material right pertaining to its ownership of the Shares.

 

(iii)            
GE shall have obtained (a) the Required GE Vote (as hereinafter defined) and (b) the affirmative vote of holders of GE Common
Stock with respect to the approval of the amendment and restatement of GE’s certificate of incorporation as further described
in the Proxy Statement.

 

		2.2	Conditions to Obligations of PAR. The obligations of PAR to consummate the transactions contemplated by this Agreement
are subject to the satisfaction, at or prior to the Closing, of each of the following conditions, any of which may be waived in
writing by PAR in its sole discretion:

 

(i)                
All of GE’s representations and warranties contained in Section 4 of this Agreement shall have been true and
correct as of the date hereof and shall be true and correct as of the Closing Date with the same effect as though such representations
and warranties had been made on and as of such date (other than any such representation or warranty that is made by its terms as
of a specified date, which shall be true and correct as of such specified date).

 

(ii)              
GE shall have performed or complied in all material respects with all agreements or covenants required by this Agreement
to be performed or complied with on or prior to the Closing Date.

 

(iii)            
There shall not have occurred any GE Material Adverse Effect, and no event shall have occurred or circumstance shall exist
that, in combination with any other events or circumstances, would reasonably be expected to have a GE Material Adverse Effect.

 

(iv)            
PAR shall have received the GE Shares, free and clear of any and all Liens.

 

    	2

    	 

    
 

(v)              
PAR shall have received a registration rights agreement in substantially the form attached hereto as Exhibit B (the
“Registration Rights Agreement”) executed by GE.

 

(vi)            
PAR shall have received a certificate executed by an officer of GE containing the representation of such officer that the
conditions set forth in Section 2.2(i) and (ii) have been duly satisfied.

 

(vii)          
PAR shall have received a certificate of the Secretary of GE, certifying to (A) the incumbency and specimen signature of
each officer of GE executing this Agreement and any other document executed on behalf of GE, (B) the organizational documents of
GE and (C) the resolutions of the Board of Directors of GE approving and adopting this Agreement and the transactions contemplated
hereby, which shall not have been modified, revoked or rescinded as of the Closing.

 

		2.3	Conditions to Obligations of GE. The obligations of GE to consummate the transactions contemplated by this Agreement
are subject to the satisfaction, at or prior to the Closing, of each of the following conditions, any of which may be waived in
writing by GE in its sole discretion:

 

(i)                
All of PAR’s representations and warranties contained in Section 3 of this Agreement that contain “Material
Adverse Effect” or other “materiality” or similar qualifiers shall have been true and correct as of the date
hereof and shall be true and correct as of the Closing Date with the same effect as though such representations and warranties
had been made on and as of such date (other than any such representation or warranty that is made by its terms as of a specified
date, which shall be true and correct as of such specified date).

 

(ii)              
All of PAR’s representations and warranties contained in Section 3 of this Agreement that do not contain “Material
Adverse Effect” or other “materiality” or similar qualifiers shall have been true and correct in all material
respects as of the date hereof and shall be true and correct in all material respects as of the Closing Date with the same effect
as though such representations and warranties had been made on and as of such date (other than any such representation or warranty
that is made by its terms as of a specified date, which shall be true and correct as of such specified date).

 

(iii)            
PAR shall have performed or complied in all material respects with all agreements or covenants required by this Agreement
to be performed or complied with on or prior to the Closing Date.

 

(iv)            
There shall not have occurred any Company Material Adverse Effect, and no event shall have occurred or circumstance shall
exist that, in combination with any other events or circumstances, would reasonably be expected to have a Company Material Adverse
Effect.

 

(v)              
GE shall have received the Shares, free and clear of any and all Liens.

 

(vi)            
GE shall have received the Registration Rights Agreement executed by PAR.

 

    	3

    	 

    
 

(vii)          
All Consents required to be obtained from or made with any Governmental Body shall have been obtained and shall be in full
force and effect.

 

(viii)        
All material third party Consents (other than with respect to any Governmental Authorizations which are governed by Section
2.3(vii) above) required to be obtained in connection with the transactions contemplated by this Agreement shall have been obtained
by the Company and shall be in full force and effect.

 

(ix)            
GE shall have received a certificate executed by an executive officer of PAR containing the representation of such executive
officer on behalf of PAR that the conditions set forth in Section 2.3(i), (ii) and (iii) have been duly satisfied.

 

(x)              
GE shall have received a certificate of an executive officer of PAR, certifying to (A) the incumbency and specimen signature
of each officer of PAR executing this Agreement and any other document executed on behalf of PAR and (B) the resolutions of PAR’s
general partner approving and adopting this Agreement and the transactions contemplated hereby, which shall not have been modified,
revoked or rescinded as of the Closing.

 

(xi)            
GE shall have received the Closing Date AIA Certificate, executed by the Company.

 

		3.	REPRESENTATIONS AND WARRANTIES OF PAR. PAR represents and warrants to GE as follows as of the date hereof:

 

		3.1	PAR Existence; Authority; Binding Effect . PAR is a limited partnership validly existing under the laws of the state
of its organization. PAR has the requisite power and authority to enter into and perform this Agreement and the transactions contemplated
hereby. The execution, delivery and performance by PAR of this Agreement and the transactions contemplated hereby have been duly
authorized by all necessary action by PAR. This Agreement has been duly and validly executed and delivered by PAR and constitutes
the legally valid and binding obligation of PAR, enforceable against PAR in accordance with the terms hereof, except (a) as may
be limited by applicable bankruptcy, insolvency, reorganization, or others laws of general application relating to or affecting
the enforcement of creditors’ rights generally and (b) as may be limited by the effect of rules of law governing the availability
of equitable remedies.

 

		3.2	PAR No Conflicts. The execution, delivery and performance by PAR of this Agreement does not and will not (i) conflict
with or violate the certificate of limited partnership or partnership agreement of PAR, (ii) conflict with or constitute a violation
of any provision of any law, rule, regulation, order, writ, judgment, injunction, decree or award that currently is in effect and
applicable to PAR, or (iii) violate, result in a breach of or constitute grounds for termination of any agreement to which PAR
is a party.

 

    	4

    	 

    
 

		3.3	Ownership of Shares. PAR holds the Shares free and clear of any and all Liens and it is entitled to pass full legal
and beneficial ownership of the Shares as provided in this Agreement.

 

		3.4	PAR Proceedings; Orders. There is no pending proceeding against or involving PAR, and, to the knowledge of PAR, no third
party has threatened to commence any proceeding against or involving PAR (a) that relates to the Shares; (b) that relates to PAR
in its capacity as a shareholder of the Company; or (c) that challenges, or that may have the effect of preventing, delaying, making
illegal or otherwise interfering with, the transactions contemplated by this Agreement.

 

		3.5	Consents. All consents, approvals, authorizations and orders required for the execution and delivery and performance
by PAR of this Agreement have been obtained and are in full force and effect.

 

		3.6	Investment, Experience, Accredited Investor.

 

(i)                
PAR is acquiring the GE Shares for investment for its own account, not as a nominee or agent, and not with a view to, or
for resale in connection with, any distribution thereof.

 

(ii)              
PAR understands that the acquisition of the GE Shares involves substantial risk. PAR has experience as an investor in securities
of companies and acknowledges that it is able to fend for itself, can bear the economic risk of its investment in the GE Shares,
and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of
this investment in the GE Shares and protecting its own interests in connection with this investment.

 

(iii)            
PAR is an “accredited investor” within the meaning of Regulation D promulgated under the Securities Act.

 

		3.7	PAR Brokers or Finders. Except as set forth on Schedule 3.7, no broker, finder or investment banker is entitled
to any brokerage, finder’s or other fee or commission in connection with the transactions contemplated hereby based upon
arrangements made by or on behalf of PAR.

 

		3.8	PAR No Discussions. Other than discussions and negotiations relating to the transactions contemplated by this Agreement,
including with GE, PAR is not presently in discussion with any other Person in connection with an Acquisition Transaction.

 

		3.9	No Additional Representations. Except as otherwise expressly set forth in this Section 3, PAR expressly disclaims
any representations or warranties of any kind or nature, express or implied, including any representations and warranties as to
the Company (including, without limitation, any representations and warranties contained in the Execution Date AIA Certificate
or Closing Date AIA Certificate), its business or assets or the transactions contemplated by this Agreement.

 

    	5

    	 

    
 

		4.	REPRESENTATIONS AND WARRANTIES OF GE. GE hereby represents and warrants to PAR as follows as of the date hereof:

 

		4.1	Existence; Authority; Binding Effect . GE is a corporation validly existing under the laws of the State of Delaware.
GE has the requisite corporate power and authority to enter into and perform this Agreement. The execution, delivery and performance
by GE of this Agreement (including, without limitation, the issuance of the GE Shares in accordance with this Agreement) have been
duly authorized by all necessary action by GE. This Agreement has been duly and validly executed and delivered by GE and constitutes
the legally valid and binding obligation of GE, enforceable against GE in accordance with the terms hereof, except (a) as may be
limited by applicable bankruptcy, insolvency, reorganization, or others laws of general application relating to or affecting the
enforcement of creditors’ rights generally and (b) as may be limited by the effect of rules of law governing the availability
of equitable remedies.

 

		4.2	No Conflicts. The execution, delivery and performance by GE of this Agreement (including, without limitation, the issuance
of the GE Shares in accordance with this Agreement) do not and will not (i) conflict with or violate the certificate of incorporation
or bylaws of GE, (ii) conflict with or constitute a violation of any provision of any law, rule, regulation, order, writ, judgment,
injunction, decree or award that currently is in effect and applicable to GE, or (iii) violate, result in a breach of or constitute
grounds for termination of any agreement to which GE is a party.

 

		4.3	Proceedings; Orders. There is no pending proceeding against or involving GE, and, to the knowledge of GE, no third party
has threatened to commence any proceeding against or involving GE that challenges, or that may have the effect of preventing, delaying,
making illegal or otherwise interfering with, the transactions contemplated by this Agreement.

 

		4.4	Consents. Other than the Required GE Vote (and the affirmative vote of holders of GE Common Stock with respect to any
other proposal submitted to the holders of GE Common Stock concurrently with the matters underlying the Required GE Vote), all
consents, approvals, authorizations, filings and orders required for the execution and delivery and performance by GE of this Agreement
(including, without limitation, the issuance of the GE Shares in accordance with this Agreement) have been obtained and are in
full force and effect.

 

		4.5	Capitalization. As of the date hereof, the authorized and outstanding capital of GE consists of:

 

(i)                
400,000,000 shares of GE Common Stock, of which 23,161,585 shares are issued and outstanding. All of the outstanding shares
of GE Common Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable
federal and state securities laws;

 

    	6

    	 

    
 

(ii)              
1,000,000 shares of preferred stock, par value $0.0001 per share, none of which is issued and outstanding; and

 

(iii)            
GE Warrants to purchase an aggregate of 25,992,500 shares of GE Common Stock. All of the GE Warrants have been duly authorized,
are fully paid and nonassessable and were issued in compliance with all applicable federal and state securities laws.

 

		4.6	SEC Filings; Financial Statements. GE has filed with the SEC and has heretofore made available to PAR true and complete
copies of all forms, reports, schedules, statements and other documents required to be filed by it under the Exchange Act (collectively,
the “GE SEC Documents”). As of their respective dates or, if amended, as of the date of the last such amendment,
the GE SEC Documents, including, without limitation, any financial statements or schedules included therein, complied in all material
respects with the applicable requirements of the Securities Act and the Exchange Act, and did not contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements
therein, in light of the circumstances under which they were made, not misleading. Each of the balance sheets (including the related
notes) included in the GE SEC Documents fairly presented in all material respects the financial position of GE as of the respective
dates thereof, and the other related financial statements (including the related notes) included therein fairly presented in all
material respects the results of operations and cash flows of GE for the respective periods or as of the respective dates set forth
therein. Each of the balance sheets and statements of operations and cash flows (including the related notes) included in the GE
SEC Documents has been prepared in all material respects in accordance with generally accepted accounting principles, except as
otherwise noted therein and subject, in the case of unaudited interim financial statements, to normal year-end adjustments.

 

		4.7	GE Brokers or Finders. Except as set forth on Schedule 4.7 hereto, no broker, finder or investment banker is
entitled to any brokerage, finder’s or other fee or commission in connection with the transactions contemplated hereby based
upon arrangements made by or on behalf of GE.

 

		4.8	Shareholder Vote. The affirmative vote of the holders of a majority of the shares of GE Common Stock voted at the special
meeting of GE stockholders is required to approve the issuance of the GE Shares (the “Required GE Vote”). Other
than the Required GE Vote (and the affirmative vote of holders of GE Common Stock with respect to any other proposal submitted
to the holders of GE Common Stock concurrently with the matters underlying the Required GE Vote), there are no other votes of the
holders of GE Common Stock or any other class or series of the capital stock of GE necessary with respect to the consummation of
the transactions contemplated by this Agreement.

 

		4.9	Valid Issuance. All GE Shares issued in connection with this Agreement (i) will, when issued in accordance with the
provisions of this Agreement, be validly issued, fully paid and nonassessable, (ii) are being issued in compliance with all applicable
federal and state securities laws, (iii) are not being issued in violation of or subject to any preemptive rights or other rights
to subscribe for or purchase securities of GE, and (iv) will be freely tradable by the holder thereof, free and clear of any and
all Liens, other than pursuant to Section 5.11 and applicable securities laws.

 

    	7

    	 

    
 

		4.10	Investment; Experience; Accredited Investor.

 

(i)                
GE is acquiring the Shares for investment for its own account, not as a nominee or agent, and not with a view to, or for
resale in connection with, any distribution thereof.

 

(ii)              
GE understands that the acquisition of the Shares involves substantial risk. GE has experience as an investor in securities
of companies and acknowledges that it is able to fend for itself, can bear the economic risk of its investment in the Shares, and
has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of this
investment in the Shares and protecting its own interests in connection with this investment.

 

(iii)            
GE is an “accredited investor” within the meaning of Regulation D promulgated under the Securities Act.

 

		5.	ADDITIONAL AGREEMENTS.

 

		5.1	Consents; Approvals. Each of the parties shall use its commercially reasonable efforts to take, or cause to be taken,
all appropriate actions and to do, or cause to be done, all things necessary, proper or advisable under applicable Law or otherwise
to consummate and make effective the transactions contemplated by this Agreement as promptly as practicable, including to obtain
all consents, approvals, authorizations, qualifications and orders as are necessary for the consummation of the transactions contemplated
by this Agreement.

 

		5.2	Public Announcements. From and after the date of this Agreement, neither PAR nor GE shall, except to the extent required
under applicable Laws or stock exchange listing requirements, (i) issue any press release regarding this Agreement or any of the
transactions contemplated by this Agreement or (ii) make any public statement regarding this Agreement or any of the transactions
contemplated by this Agreement, in each case without the other’s prior written consent. PAR shall use commercially reasonable
efforts to cause the Company to not (i) except to the extent required under applicable Laws or stock exchange listing requirements,
(A) issue any press release regarding this Agreement or any of the transactions contemplated by this Agreement or (B) make any
public statement regarding this Agreement or any of the transactions contemplated by this Agreement, in each case without GE’s
prior written consent or (ii) provide any written materials to its employees generally (or to any subset thereof), or to its customers
or partners generally (or to any subset thereof), regarding this Agreement or any of the transactions contemplated by this Agreement
without GE’s prior written consent.

 

    	8

    	 

    
 

		5.3	Cooperation. Each of PAR and GE will use its reasonable best efforts to take all actions and to do all things necessary,
proper, or advisable in order to consummate and make effective the transactions contemplated by this Agreement.

 

		5.4	Updates to Proxy Statement. If at any time prior to the Closing, PAR obtains actual knowledge of any information
relating to the Company or its Subsidiaries, or any of their respective subsidiaries, affiliates, officers or directors, that would
be required to be set forth in an amendment or supplement to the Proxy Statement so that none of the information in the Proxy Statement
(and any amendment or supplement thereto), at the date of mailing and at the time of the special meeting of GE stockholders, will
contain any statement which is false or misleading with respect to any material fact, or which omits to state any material fact
necessary in order to make the statements therein not false or misleading, PAR shall promptly notify GE and an appropriate amendment
or supplement describing such information shall be promptly filed with the SEC and, to the extent required by law, disseminated
to the stockholders of GE; provided, however, that no information received by GE pursuant to this Section 5.4
shall operate as a waiver or otherwise affect any representation, warranty or agreement given or made by PAR, and no such information
shall be deemed to change, supplement or amend any schedules to this Agreement.

 

		5.5	Mutual Recognition. Unless otherwise agreed, PAR shall avoid any measures that could lead to an obligation for GE to
make an additional payment in accordance with section 31 (5) of the German Acquisition and Takeover Act, and GE shall, until the
expiry of September 1, 2013, avoid any measures that could lead to an obligation for PAR to make an additional payment in accordance
with section 31 (5) of the German Acquisition and Takeover Act. PAR and GE further agree (i) not to implement any measures which
might lead to an obligation for PAR to make a mandatory offer under section 35 (2) of the German Acquisition and Takeover Act and
(ii) to avoid acting in concert with respect to the Company.

 

		5.6	Company Operations. Without the prior written consent of GE, from the date hereof through and including the Closing
Date, PAR shall, to the extent permitted under German Law, use commercially reasonable efforts to cause the Company and its Subsidiaries
to:

 

(i)                
conduct its business and operations in the ordinary course and in substantially the same manner as such business and operations
have been conducted prior to the date of this Agreement;

 

(ii)              
use reasonable efforts to preserve intact its current business organization, keep available the services of its current
officers and employees and maintain its relations and good will with all suppliers, customers, landlords, creditors, employees
and other Persons having business relationships with it;

 

    	9

    	 

    
 

(iii)            
keep in full force all insurance policies;

 

(iv)            
not make any binding material proposal or enter into, amend or terminate any material contract of the Company and its Subsidiaries
(including, without limitation, any lease of real property);

 

(v)              
not declare, accrue, set aside or pay any dividend or make any other distribution in respect of any shares of Common Stock,
and not repurchase, redeem or otherwise reacquire any shares of Common Stock or other securities;

 

(vi)            
not sell, issue or authorize the issuance of (i) any capital stock or other security (except upon the valid exercise of
options outstanding as of the date of this Agreement), (ii) any option or right to acquire any capital stock or other security,
or (iii) any instrument convertible into or exchangeable for any capital stock or other security;

 

(vii)          
not amend or waive any of its rights under (i) any provision of any agreement evidencing any outstanding option or right
to purchase equity securities of the Company, or (ii) any provision or any restricted stock purchase agreement;

 

(viii)        
not amend or permit the adoption of any amendment to any of its respective organizational documents;

 

(ix)            
not form any subsidiary or acquire any equity interest or other interest in any other Entity;

 

(x)              
not (i) enter into, or permit any of the assets owned or used by it to become bound by, any Contract requiring the Consent
of any other party to such Contract in connection with the transactions contemplated by this Agreement, (ii) enter into, or
permit any of the assets owned or used by it to become bound by, any Contract that is or would constitute a material contract of
the Company and its Subsidiaries, or (iii) amend or prematurely terminate, or waive any material right or remedy under, any material
contract of the Company and its Subsidiaries;

 

(xi)            
not (i) lend money to any Person (except that the Company may make routine travel advances to employees in the ordinary
course of business) or (ii) incur or guarantee any indebtedness for borrowed money;

 

(xii)          
not (i) establish, adopt or amend any employee benefit plan, (ii) pay any bonus or make any profit-sharing payment, cash
incentive payment or similar payment to, or increase the amount of the wages, salary, commissions, fringe benefits or other compensation
or remuneration payable to, any of its directors, officers or employees, or (iii) hire any new employee, consultant or independent
contractor;

 

    	10

    	 

    
 

(xiii)        
not change any of its methods of accounting or accounting practices in any material respect;

 

(xiv)        
not make any material Tax election;

 

(xv)          
not commence or settle any Legal Proceeding;

 

(xvi)        
not take any other action, or enter into any transaction of the sort, set forth in Section A-15 of Annex A
attached hereto; and

 

(xvii)      
not agree or commit to take any of the actions described above.

 

		5.7	No Negotiations. From the date hereof through and including the Closing Date, none of the Company, PAR nor any of their
respective representatives shall, directly or indirectly (a) solicit or encourage the initiation of any inquiry, proposal or offer
from any Person (other than GE) relating to a possible Acquisition Transaction; (b) participate in any discussions or negotiations
or enter into any agreement with, or provide any information to, any Person (other than GE) relating to or in connection with a
possible Acquisition Transaction; or (c) consider, entertain or accept any proposal or offer from any Person (other than GE) relating
to a possible Acquisition Transaction. PAR shall promptly notify GE in writing of any inquiry, proposal or offer relating to a
possible Acquisition Transaction that is received by the Company (and provided to PAR), PAR or
any representative thereof from the date hereof through and including the Closing Date. 

 

		5.8	Restrictions on Sales. Other than as contemplated by this Agreement, from the date hereof through the earlier of (i)
the Closing Date and (ii) the termination of this Agreement pursuant to Section 6, PAR agrees not to sell, assign, transfer,
convey, hypothecate or dispose of any of the Shares.

 

		5.9	Trust Account Waiver. PAR acknowledges and agrees that GE is a blank check company and that GE’s sole assets consist
of the cash proceeds of GE’s initial public offering and private placements of its securities, and that substantially all
of these proceeds have been deposited in a trust account (the “Trust Account”) for the benefit of its public
shareholders. For and in consideration of GE entering into this Agreement, the receipt and sufficiency of which are hereby acknowledged,
PAR, on behalf of itself and any of its respective managers, directors, officers, affiliates, members, stockholders, trustees,
hereby irrevocably waives any right, title, interest or claim of any kind it has or may have in the future in or to any monies
in the Trust Account, and agrees not to seek recourse against the Trust Account or any funds distributed therefrom as a result
of, or arising out of, any such claims against GE arising under this Agreement.

 

		5.10	Listing. GE will use reasonable best efforts to cause the GE Shares to be listed on the NASDAQ Capital Market as of
the Closing. If the GE Shares are not listed on the NASDAQ Capital Market as of the Closing, GE will continue to use reasonable
best efforts to cause such shares to be so listed.

 

    	11

    	 

    
 

		5.11	Lock Up. PAR agrees that (a) fifty percent (50%) of the GE Shares may not be sold, transferred or otherwise disposed
of until the earlier to occur of (1) six (6) months from the Closing and, (2) if prior to the end of such six-month period the
last sales price of GE Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 45 days after the
Closing, the last day of such 30-trading day period, and (b) the remaining fifty percent (50%) of the GE Shares may not be sold,
transferred or otherwise disposed of until the earlier to occur of (1) the first anniversary of the Closing and, (2) if prior to
such first anniversary the last sales price of GE Common stock equals or exceeds $12.00 per share (as adjusted for stock splits,
stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing
at least six months after the Closing, the last day of such 30-trading day period; provided that in each case, the foregoing restrictions
will expire immediately prior to the consummation by GE of any liquidation, merger, stock exchange or other similar transaction
after the Closing that results in all of its stockholders having the right to exchange their shares of common stock for cash, securities
or other property or that results in the stockholders of GE immediately prior to consummation of such transaction holding less
than a majority of the outstanding shares immediately following consummation of such transaction.

 

		6.	TERMINATION

 

		6.1	Termination. This Agreement may be terminated at any time prior to the Closing:

 

(i)                
by mutual written consent of PAR and GE;

 

(ii)              
(A) by PAR if any of GE’s representations and warranties contained in Section 4 of this Agreement shall have
been inaccurate in any material respect as of the date of this Agreement or shall have become inaccurate in any material respect
as of any subsequent date (as if made on such subsequent date), or if any of GE’s covenants contained in this Agreement shall
have been breached in any material respect; provided, however, that PAR may not terminate this Agreement under this Section
6.1(ii) on account of an inaccuracy in GE’s representations and warranties or on account of a breach of a covenant by
GE unless such inaccuracy or breach (if curable) is not cured by GE within ten (10) calendar days after receiving written notice
from PAR of such inaccuracy or breach or (B) by GE if any of PAR’s representations and warranties contained in Section
3 of this Agreement shall have been inaccurate in any material respect as of the date of this Agreement or shall have become
inaccurate in any material respect as of any subsequent date (as if made on such subsequent date), or if any of PAR’s covenants
contained in this Agreement shall have been breached in any material respect; provided, however, that GE may not terminate
this Agreement under this Section 6.1(ii) on account of an inaccuracy in PAR’s representations and warranties or on
account of a breach of a covenant by PAR unless such inaccuracy or breach (if curable) is not cured by PAR within ten (10) calendar
days after receiving written notice from GE of such inaccuracy or breach;

 

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(iii)            
by either PAR or GE if the transactions contemplated by this Agreement shall not have been consummated by February 18, 2013
(unless the failure to consummate the transactions contemplated by this Agreement is attributable to a failure on the part of the
party seeking to terminate this Agreement to perform any material obligation required to be performed by such party at or prior
to such date);

 

(iv)            
by either PAR or GE if a court of competent jurisdiction or other Governmental Body shall have issued a final and nonappealable
order, decree or ruling, or shall have taken any other action, having the effect of permanently restraining, enjoining or otherwise
prohibiting the transactions contemplated by this Agreement;

 

(v)              
automatically upon the termination of the Merger Agreement; or

 

(vi)            
automatically if the transactions contemplated by this Agreement shall not have been consummated by December 31, 2013 as
a result of GE’s failure to obtain the Required GE Vote.

 

The party seeking to terminate
this Agreement pursuant to this Section 6.1 (other than Section 6.1(i)) shall give prompt written notice of such
termination to the other party.

 

		6.2	Effect of Termination. In the event of the termination of this Agreement pursuant to Section 6.1, this Agreement
shall forthwith become null and void and have no effect, without any liability on the part of PAR or GE and their respective directors,
officers, employees, partners or stockholders and all rights and obligations of any party hereto shall cease, except for the agreements
contained in Section 8.

 

		7.	INDEMNIFICATION

 

		7.1	Indemnification.

 

		(i)	From and after the Closing Date, PAR shall hold harmless and indemnify each of GE and its Affiliates, and each of their respective
officers, directors, employees, agents and representatives (each, a “GE Indemnified Party,” and, collectively,
the “GE Indemnified Parties”) from and against, and shall compensate and reimburse each of the GE Indemnified
Parties for, any Damages that are directly or indirectly suffered or incurred by any of the GE Indemnified Parties or to which
any of the GE Indemnified Parties may otherwise become subject (regardless of whether or not such Damages relate to any third-party
claim) that arise from or as a result of, or are directly or indirectly connected with: (i) any inaccuracy in or breach of any
of the representation or warranties made by PAR contained in Section 3 of this Agreement, (ii) any breach of any covenant
or obligation of PAR set forth in this Agreement, (iii) any intentional misrepresentation or fraud and (iv) any obligations associated
with or arising from, whether directly or indirectly, the tender offer conducted by PAR with respect to the shares of common stock
of the Company which commenced on July 11, 2012. For the avoidance of doubt, neither PAR nor any of its Affiliates, officers, directors,
employees, agents or representatives shall have any liability or indemnification obligation with respect to any representations
and warranties made to GE by the Company, including without limitation, the representations and warranties set forth in the Execution
Date AIA Certificate or Closing Date AIA Certificate.

 

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		(ii)	From and after the Closing Date, GE shall hold harmless and indemnify PAR and its Affiliates, and each of their respective
officers, directors, employees, agents and representatives (each, a “PAR Indemnified Party,” and, collectively,
the “PAR Indemnified Parties”), from and against all Damages that are directly suffered or incurred by any of
the PAR Indemnified Parties or to which any of the PAR Indemnified Parties may otherwise be subject (regardless of whether or not
such Damages relate to any third-party claim) that arise from or as a result of, or are directly or indirectly connected with:
(i) any inaccuracy in or breach of any representation or warranty made by GE contained in Section 4 of this Agreement, (ii)
any breach of any covenant or obligation of GE contained in this Agreement and (iii) any intentional misrepresentation or fraud.

 

		7.2	Survival of Representations and Warranties. Other than the representations and warranties contained in Sections 3.1,
3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 4.1, 4.2, 4.3, 4.5, 4.7
and 4.9, each of which shall survive indefinitely, the representations and warranties of PAR and GE contained in this Agreement
shall expire eighteen (18) months following the Closing Date.

 

		7.3	Exclusivity of Indemnification Remedies. With the exception of claims based upon intentional misrepresentation or fraud,
the right of any GE Indemnified Party to assert claims for indemnification and to receive indemnification pursuant to Section
7 shall, after the Closing, be such Person’s sole and exclusive remedy for monetary Damages with respect to any breach
of the representations, warranties and covenants contained in this Agreement. The exercise by any Person of any of its rights under
Section 7 shall not be deemed to be an election of remedies and shall not be deemed to prejudice, or to constitute or operate
as a waiver of, any injunctive or other equitable right, remedy or relief that such Person may be entitled to exercise.

 

		7.4	Defense of Third Party Claims.

 

		(i)	In order for an Indemnified Party to be entitled to any indemnification provided for under this Agreement in respect of, arising
out of or involving any Damages or demand made by any person against the Indemnified Party (a “Third Party Claim”),
such Indemnified Party shall deliver notice thereof to PAR, or to GE, as applicable (the “Indemnifying Party”);
provided, that no delay or failure on the part of an Indemnified Party in notifying PAR or GE, as the case may be,
shall relieve an Indemnifying Party from its obligations hereunder unless the Indemnifying Party is thereby materially prejudiced
(and then solely to the extent of such prejudice).

 

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		(ii)	The Indemnifying Party shall have the right, upon written notice to the Indemnified Party within fifteen (15) days of receipt
of notice from the Indemnified Party of the commencement of such Third Party Claim, to assume the defense thereof at the expense
of the Indemnifying Party with counsel selected by the Indemnifying Party and reasonably satisfactory to the Indemnified Party.
If the Indemnifying Party does not expressly elect to assume the defense of such Third Party Claim within the time period set forth
in this Section 7.4, the Indemnified Party shall have the sole right to assume the defense of and to settle such Third Party
Claim. If the Indemnifying Party assumes the defense of any Third Party Claim, the Indemnified Party shall, at the Indemnifying
Party’s expense, cooperate with the Indemnifying Party in such defense and make available to the Indemnifying Party all witnesses,
pertinent records, materials and information in the Indemnified Party’s possession or under the Indemnified Party’s
control relating thereto as is reasonably required by the Indemnifying Party. If the Indemnifying Party assumes the defense of
any Third Party Claim, the Indemnifying Party shall not, without the prior written consent of the Indemnified Party (not to be
unreasonably withheld, conditioned or delayed), enter into any settlement or compromise or consent to the entry of any judgment
with respect to such Third Party Claim if such settlement, compromise or judgment (i) involves a finding or admission of wrongdoing,
(ii) does not include an unconditional written release by the claimant or plaintiff of the Indemnified Party from all liability
in respect of such Third Party Claim or (iii) imposes equitable remedies or any obligation on the Indemnified Party other than
solely the payment of money damages for which the Indemnified Party will be indemnified hereunder.

 

		7.5	Effect of Investigation. The right to indemnification, payment of Damages of an Indemnified Party or other remedies
of GE or PAR based on any representation, warranty, covenant or obligation of the PAR or GE contained in or made pursuant to this
Agreement shall not be affected or deemed waived by any investigation conducted with respect to, or any knowledge acquired (or
capable of being acquired) at any time, with respect to the accuracy or inaccuracy of or compliance with, any such representation,
warranty, covenant or obligation.

 

		8.	MISCELLANEOUS

 

		8.1	Notices. Any notice or other communication required or permitted to be delivered to any party under this Agreement shall
be in writing and shall be deemed properly delivered, given and received (a) when delivered by hand, or (b) two business days after
such notice is sent by registered mail, by courier or express delivery service or by facsimile, in each case to the address or
facsimile telephone number set forth beneath the name of such party below (or to such other address or facsimile telephone number
as such party shall have specified in a written notice given to the other parties hereto):

 

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If to PAR:

 

PAR Investment Partners, L.P.

One International Place, Suite 2401

Boston, MA 02110

Attention: Chief Operating Officer and General Counsel

Facsimile: 617-556-8875

 

with a copy to:

 

Goodwin Procter LLP

Exchange Place

Boston, MA 02109

Attention: Robert P. Whalen, Esq.

Facsimile: 617-523-1231

 

If to GE:

 

Global Eagle Acquisition Corp.

10900 Wilshire Blvd., Suite 1500

Los Angeles, CA 90024

Attention: Chief Executive Officer

Facsimile: 310-209-7225

 

with a copy to:

 

McDermott Will & Emery LLP

340 Madison Avenue

New York, NY 10173-1922

Attention: Joel Rubinstein, Esq.

Facsimile: 212-547-5444

 

		8.2	Entire Agreement. This Agreement and any exhibits, annexes and schedules attached hereto represents the entire agreement
between the parties hereto with respect to the subject matter hereof.

 

		8.3	Law Governing. This Agreement, except for the assignment in Section 2 above, which shall be governed by and construed
and enforced in accordance with the laws of the Federal Republic of Germany, shall be governed by and construed and enforced in
accordance with the laws of the State of New York, without regard to any conflict of laws provisions thereof.

 

		8.4	Venue. Any Legal Proceeding relating to this Agreement or the enforcement of any provision of this Agreement may be
brought or otherwise commenced in any federal or state court located in New York, New York. Each of PAR and GE: (a) expressly and
irrevocably consent and submit to the jurisdiction of each federal and state court located in New York, New York in connection
with any such Legal Proceeding; (b) agree that service of any process, summons, notice or document by U.S. mail addressed to PAR
or GE at the address set forth in Section 8.1 shall constitute effective service of such process, summons, notice or document
for purposes of any such Legal Proceeding; (c) agree that each federal or state court located in New York, New York, shall be deemed
to be a convenient forum; and (d) agree not to assert (by way of motion, as a defense or otherwise), in any such Legal Proceeding
commenced in any federal or state court located in New York, New York any claim that such party is not subject personally to the
jurisdiction of such court, that such Legal Proceeding has been brought in an inconvenient forum, that the venue of such action
or proceeding is improper or that this Agreement or the subject matter of this Agreement may not be enforced in or by such court.

 

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		8.5	Waiver of Jury Trial. Each of the parties hereto hereby irrevocably waives any and all right to trial by jury
in any Legal Proceeding arising out of this Agreement or the transactions contemplated hereby.

 

		8.6	Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns. No party may assign or delegate any rights or obligations under this Agreement without the prior
written consent of the other party; provided, however, that GE may assign its rights under this Agreement to a wholly owned subsidiary
of GE.

 

		8.7	No Publicity. Except as may be otherwise required by law, or in any filing with the Securities and Exchange Commission,
neither GE nor PAR shall make any public statement or announcement regarding this Agreement or the transactions contemplated hereby,
or disclose any of the terms of this Agreement, in each case without the other’s prior written consent.

 

		8.8	No Oral Modifications. No amendments or modifications to this Agreement shall be made or deemed to have been made unless
in writing executed and delivered by the party to be bound thereby.

 

		8.9	Counterparts. This agreement may be executed simultaneously in any number of counterparts, each of which shall be deemed
an original, all of which together shall constitute one and the same instrument.

 

		8.10	Waivers. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a continuing waiver,
and no waiver shall be binding unless executed in writing by the party making the waiver.

 

		8.11	Expenses. Each party will bear its own respective costs and expenses incurred in connection with the transactions contemplated
by this Agreement and shall reimburse the Company for 50% of the reasonable costs and expenses of the Company’s auditor in
connection with the preparation of pro forma financial statements (including without limitation, U.S. generally accepted accounting
principles translation) incurred in connection with the transactions contemplated by this Agreement. Notwithstanding the foregoing,
in the event the transactions contemplated by this Agreement are consummated, all costs and expenses of GE, PAR and the Company
incurred in connection with the transactions contemplated by this Agreement shall be paid by GE.

 

    	17

    	 

    
 

		8.12	Further Assurances. The parties agree to execute such further documents and instruments and to take such further actions
as may be reasonably necessary to carry out the purposes and intent of this Agreement, including, without limitation, PAR rendering
all necessary declarations or confirmations to effect the transfer of the Shares to GE, including, without limitation, any declarations
required in connection with section 13 of the German Depositary Act (Depotgesetz).

 

		8.13	Construction. Each party has participated in the drafting and preparation of this Agreement. Hence, in any construction
to be made of this Agreement, the same shall not be construed against any party on the basis that such party was the drafter.

 

		8.14	Severability. In the event that any provision of this Agreement, or the application of any such provision to any Person
or set of circumstances, shall be determined to be invalid, unlawful, void or unenforceable to any extent, the remainder of this
Agreement, and the application of such provision to Persons or circumstances other than those as to which it is determined to be
invalid, unlawful, void or unenforceable, shall not be impaired or otherwise affected and shall continue to be valid and enforceable
to the fullest extent permitted by Law.

 

		8.15	Definitions. For purposes of this Agreement:

 

(i)                
“Acquisition Transaction” means any transaction (other than the transaction between GE and PAR contemplated
by this Agreement) involving: (a) the sale, license, disposition or acquisition of all or a material portion of the business or
assets of the Company (taken as a whole); (b) the direct or indirect acquisition (including by way of a tender or exchange offer)
by of beneficial ownership or a right to acquire beneficial ownership of shares representing a majority of the voting power of
the then outstanding shares of capital stock of the Company; or (c) any other merger, consolidation, business combination, reorganization
or similar transaction involving the Company.

 

(ii)              
“Affiliate” means, with respect to any specified Person, any other Person that directly, or indirectly
through one or more intermediaries, controls, is controlled by or is under common control with, such specified Person.

 

(iii)            
“Closing Date” means the date on which the Closing actually takes place.

 

(iv)            
“Closing Date AIA Certificate” means a certificate to be executed by the Company on the Closing Date,
in form and substance reasonably satisfactory to GE, certifying that (A) all of the representations and warranties of the Company
set forth on Annex A hereto that contain “Material Adverse Effect” or other “materiality” or similar
qualifiers shall have been true and correct as of the date hereof and shall be true and correct as of the Closing Date with the
same effect as though such representations and warranties had been made on and as of such date (other than any such representation
or warranty that is made by its terms as of a specified date, which shall be true and correct and not misleading as of such specified
date) and (B) all of the representations and warranties of the Company set forth on Annex A hereto that do not contain “Material
Adverse Effect” or other “materiality” or similar qualifiers shall have been true and correct in all material
respects as of the date hereof and shall be true and correct in all material respects as of the Closing Date with the same effect
as though such representations and warranties had been made on and as of such date (other than any such representation or warranty
that is made by its terms as of a specified date, which shall be true and correct as of such specified date).

 

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(v)              
 “Company Material Adverse Effect” means an event, violation, inaccuracy,
circumstance or other matter that would reasonably be expected to have a material adverse effect on the business, properties, condition
(financial or otherwise), capitalization, results of operations, financial performance or prospects of the Company and its Subsidiaries
; provided, however, that none of the following constitute, or will be considered in determining whether there
has occurred, a Company Material Adverse Effect: (A) changes or conditions generally affecting the industry in which the Company
and its Subsidiaries operates, (B) changes in economic, capital market, regulatory or political
conditions generally, (C) any change in applicable Laws, (D) changes that are the result of economic factors affecting the
national, regional or world economy or acts of war or terrorism, (E) the announcement of the transactions contemplated herein or
(F) the receipt from a Governmental Body of an antitrust investigation, claim, suit or cause of action, except with respect
to clauses (A)-(D) above, to the extent that the impact of such change, event, circumstance or effect is disproportionately adverse
to the Company and its Subsidiaries, taken as a whole, relative to other companies in any industry in which the Company and its
Subsidiaries operates.

 

(vi)            
“Consent” means any approval, consent, ratification, permission, waiver or authorization (including any
Governmental Authorization).

 

(vii)          
“Contract” means any written, oral or other agreement, contract, subcontract, lease, understanding, instrument,
note, warranty, insurance policy, benefit plan or legally binding commitment or undertaking of any nature.

 

(viii)        
“Damages” means any loss, damage, injury, decline in value, lost opportunity, liability, claim, demand,
settlement, judgment, award, fine, penalty, tax, fee (including reasonable attorneys’ fees), charge, cost (including reasonable
costs of investigation) or expense of any nature; provided, however, that Damages will not include incidental, consequential,
indirect, punitive, special or exemplary Damages, except to the extent any such incidental, consequential, indirect, punitive,
special or exemplary Damages are part of a claim made by a third party against an Indemnified Party.

 

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(ix)            
“Entity” means any corporation (including any non-profit corporation), general partnership, limited partnership,
limited liability partnership, joint venture, estate, trust, company (including any limited liability company or joint stock company),
firm or other enterprise, association, organization or entity.

 

(x)              
“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

(xi)            
“Execution Date AIA Certificate” means the certificate executed by the Company on the date hereof, in
form and substance reasonably satisfactory to GE, certifying that all of the representations and warranties of the Company set
forth on Annex A hereto are true and correct as of the date hereof (other than any such representation or warranty that
is made by its terms as of a specified date, which shall be true and correct as of such specified date).

 

(xii)          
“GE Common Stock” means the shares of common stock of GE, par value $0.0001 per share.

 

(xiii)        
“GE Material Adverse Effect” means an event, violation, inaccuracy, circumstance or other matter that
would reasonably be expected to have a material adverse effect on the business, properties, condition (financial or otherwise),
capitalization, results of operations or financial performance of GE.

 

(xiv)        
“GE Warrants” means (a) warrants to purchase 18,992,500 shares of GE Common Stock at an exercise price
of $11.50 per share and (b) warrants to purchase 7,000,000 shares of GE Common Stock at an exercise price of $11.50 per share.

 

(xv)          
“Governmental Authorization” means any: (a) permit, license, certificate, franchise, permission, clearance,
registration, qualification or authorization issued, granted, given or otherwise made available by or under the authority of any
Governmental Body or pursuant to any Legal Requirement; or (b) right under any Contract with any Governmental Body.

 

(xvi)        
“Governmental Body” means any:
(a) nation, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature;
(b) federal, state, local, municipal, foreign or other government; or
(c) governmental or quasi-governmental authority of any nature (including any governmental division, department, agency,
commission, instrumentality, official, organization, unit, body or Entity and any court or other tribunal).

 

(xvii)      
“Indemnified Party” means a GE Indemnified Party or a PAR Indemnified Party, as the case may be.

 

(xviii)    
 “Law” means any federal, state, local or foreign law (including common law), statute, ordinance, regulation,
rule, code, injunction, judgment, decree or order of any Governmental Body.

 

    	20

    	 

    
 

(xix)        
“Legal Proceeding” means any action, suit, litigation, arbitration, proceeding (including any civil,
criminal, administrative, investigative or appellate proceeding), hearing, inquiry, audit, examination or investigation commenced,
brought, conducted or heard by or before, or otherwise involving, any court or other Governmental Body or any arbitrator or arbitration
panel.

 

(xx)          
“Legal Requirement” means any federal, state, local, municipal, foreign or other law, statute, constitution,
principle of common law, resolution, ordinance, code, edict, decree, rule, regulation, ruling or requirement issued, enacted, adopted,
promulgated, implemented or otherwise put into effect by or under the authority of any Governmental Body.

 

(xxi)        
“Liens” means any and all claims, liens, pledges, options, charges, security interests, encumbrances
or other rights of third parties.

 

(xxii)      
“Person” means any individual, Entity or Governmental Body.

 

(xxiii)    
“Proxy Statement” means a proxy statement filed with the SEC by GE.

 

(xxiv)    
“SEC” means the United States Securities and Exchange Commission.

 

(xxv)      
“Securities Act” means the Securities Act of 1933, as amended.

 

(xxvi)    
“Subsidiary” means any Entity of which the Company directly or indirectly owns 50% or more of the equity
or that the Company otherwise directly or indirectly controls.

 

(xxvii)  
“Tax” means any tax (including any income tax, franchise tax, capital gains tax, gross receipts tax,
value-added tax, surtax, excise tax, ad valorem tax, transfer tax, stamp tax, sales tax, use tax, property tax, business tax, withholding
tax or payroll tax), levy, assessment, tariff, duty (including any customs duty), deficiency or fee, and any related charge or
amount (including any fine, penalty or interest), imposed, assessed or collected by or under the authority of any Governmental
Body.

 

For purposes of convenience, the capitalized
terms listed below are defined herein in the following Sections:

 

	Capitalized Term	Where Defined
	Agreement	Preamble
	AIA Value	1
	Closing	2
	Common Stock	Recitals
	Company	Recitals
	Company Filed Documents	A-8 of Annex A
	GE	Preamble
	GE Indemnified Party or GE Indemnified Parties	7.1(i)

 

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	GE SEC Documents	4.6
	GE Shares	1
	Indemnifying Party	7.4(i)
	Leased Real Property	A-14 of Annex A
	Merger Agreement	2.1
	PAR	Preamble
	PAR Indemnified Party or PAR Indemnified Parties	7.1(ii)
	PCBs	A-13 of Annex A
	Registration Rights Agreement	2.2
	Required GE Vote	4.8
	Share Consideration	1
	Shares	Recitals
	Third Party Claim	7.4(i)
	Trust Account	5.9

 

 

LIST OF SCHEDULES

 

Schedule 3.7PAR Brokers or Finders

Schedule 4.7GE Brokers or Finders

 

[The remainder of this page is intentionally
left blank.]

 

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IN WITNESS WHEREOF, the parties hereto have
executed this Agreement on and as of the date first written above.

 

	 	PAR INVESTMENT PARTNERS, L.P.
	 	 
	 	By: PAR Group, L.P., its general partner
	 	 
	 	By: PAR Capital Management, Inc., its general partner
	 	 
	 	 
	 	By: /s/ Steven M. Smith__________________
	 	Steven M. Smith
	 	Chief Operating Officer and General Counsel
	 	 
	 	 
	 	 
	 	GLOBAL EAGLE ACQUISITION CORP
	 	 
	 	 
	 	By: /s/ James Graf_________________________
	 	Name: James Graf
	 	Title: Vice President

 

 

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