Document:

EX-4.1

 Exhibit 4.1 

Execution Version 
  

 
  

DXC TECHNOLOGY COMPANY 

(F.K.A. EVERETT SPINCO, INC.), 

U.S. BANK NATIONAL ASSOCIATION, 

as Trustee 
 and 

ELAVON FINANCIAL SERVICES DAC, UK BRANCH, 

as Paying Agent 
 SEVENTH
SUPPLEMENTAL INDENTURE 
 Dated as of September 26, 2018 
  

 
  

 Seventh Supplemental Indenture dated as of September 26, 2018, by and among DXC
TECHNOLOGY COMPANY, a Nevada corporation (f.k.a. Everett SpinCo, Inc.) (the “Company”), U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”), and ELAVON FINANCIAL SERVICES DAC,
UK BRANCH, as paying agent (the “Paying Agent”). 
 Reconciliation and tie between Trust Indenture Act of 1939 (the
“Trust Indenture Act”) and the Indenture. 
  

							
	 	§ 310(a)	 	  		  	5.10
	 	(b)	 	  		  	5.09
	 	§ 311(a)	 	  		  	5.14
	 	(b)	 	  		  	5.14
	 	§ 312(a)	 	  		  	2.08
	 	(b)	 	  		  	10.04
	 	(c)	 	  		  	10.04
	 	§ 313(a)	 	  		  	5.04
	 	(b)	 	  		  	5.04
	 	(c)	 	  		  	5.04
	 	(d)	 	  		  	5.04
	 	§ 314(a)	 	  		  	3.02
	 	(b)	 	  		  	Not Applicable
	 	(c)	 	  		  	10.05
	 	(d)	 	  		  	Not Applicable
	 	(e)	 	  		  	10.05
	 	(f)	 	  		  	Not Applicable
	 	§ 315(a)	 	  		  	5.01
	 	(b)	 	  		  	4.12
	 	(c)	 	  		  	5.01
	 	(d)	 	  		  	5.05
	 	(e)	 	  		  	10.04
	 	§ 316(a)	 	  		  	7.02, 7.07
	 	(b)	 	  		  	7.02
	 	(c)	 	  		  	6.02
	 	§ 317(a)	 	  		  	4.03
	 	(b)	 	  		  	5.03
	 	§ 318(a)	 	  		  	7.07

 Note: This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture. 

RECITALS 
 WHEREAS, the
Company and the Trustee executed and delivered an Indenture, dated as of March 27, 2017 (the “Base Indenture”), to provide for the issuance by the Company from time to time of debentures, notes or other debt instruments
evidencing its 

  
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indebtedness. The Base Indenture, as supplemented and amended by this Seventh Supplemental Indenture, including the provisions of the Trust Indenture Act that are automatically deemed to be a
part of this Indenture by operation of the Trust Indenture Act, and as it may be further amended or supplemented from time to time with respect to the Notes, is herein referred to as the “Indenture.” 

WHEREAS, the Company has authorized the issuance of 1.750% Senior Notes due 2026 (the “Notes”). 

WHEREAS, the Company desires to enter into this Seventh Supplemental Indenture to establish the form and terms of the Notes in accordance with
Section 2.03 of the Base Indenture. 
 WHEREAS, all things necessary to make this Seventh Supplemental Indenture a valid and legally
binding agreement according to its terms have been done. 
 WHEREAS, the Indenture is subject to, and will be governed by, the provisions of
the Trust Indenture Act that are required to be a part of and govern indentures qualified under the Trust Indenture Act. 
 NOW, THEREFORE,
for and in consideration of the foregoing premises, the Company, the Trustee and the Paying Agent mutually covenant and agree for the equal and proportionate benefit of the respective Holders from time to time of the Notes as follows: 

ARTICLE 1 
 TERMS
OF THE NOTES 
 Section 1.01.    Terms of the Notes. The
following terms relate to the Notes: 
 (a)    The Notes shall constitute a separate series of Securities under the Base
Indenture having the title “1.750% Senior Notes due 2026.” 
 (b)    The aggregate principal amount of the
Notes (the “Initial Notes”) that may be initially authenticated and delivered under the Indenture shall be €650,000,000. 

(c)    The Company may from time to time, without the consent of the Holders of the Notes, issue additional Notes (in any
such case “Additional Notes”) having the same ranking and the same interest rate, maturity and other terms (except for the issue date and, in some cases, the public offering price and the first interest payment date) as the Initial
Notes. The aggregate principal amount of the Additional Notes shall be unlimited. 
 (d)    Any Additional Notes and the
Initial Notes shall constitute a single series under the Indenture and all references to the Notes shall include the Initial Notes and any Additional Notes unless the context otherwise requires. In the above case, if any such Additional Notes are
not fungible with the previously issued Notes for U.S. federal income tax purposes, such Additional Notes will be issued with a different ISIN number as the previously issued Notes, as applicable. 

  
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 (e)    The entire outstanding principal of the Notes shall be payable on
January 15, 2026. The rate at which the Notes shall bear interest shall be 1.750% per year. The date from which interest shall accrue on the Notes shall be September 26, 2018, or the most recent Interest Payment Date to which interest has
been paid or provided for. The Interest Payment Dates for the Notes shall be January 15 of each year, beginning January 15, 2019. 

(f)    Interest shall be payable on each Interest Payment Date to the Holders of record of the Notes at the close of
business on the January 1 immediately preceding each Interest Payment Date (each, a “regular record date”). The basis upon which interest shall be calculated shall be that of the actual number of days in the period for which
interest is being calculated and the actual number of days from and including the last date on which interest was paid on the Notes (or September 26, 2018, if no interest has been paid on the Notes), to, but excluding. the next scheduled
Interest Payment Date. This payment convention is referred to as “ACTUAL/ACTUAL (ICMA),” as defined in the rulebook of the International Capital Market Association. 

(g)    The Depositary for the Global Notes shall be the common depositary on behalf of Euroclear and Clearstream. 

(h)    (i) The Company initially appoints Elavon Financial Services DAC, UK Branch as paying agent with respect to the
Notes pursuant to Section 3.04 of the Base Indenture until such time as the Paying Agent has resigned or a successor has been appointed. The Paying Agent hereby accepts such initial appointment, and the Company confirms that such initial
appointment is acceptable to it. The Paying Agent shall have all of the rights, privileges, protections and immunities granted to the Trustee in the Indenture. Payment of the principal amount of the Notes, and any premium, interest or Additional
Amounts on the Notes, will be payable at the office of the Paying Agent at Fifth Floor, 125 Old Broad Street, London, EC2N 1AR, United Kingdom, until such time as the Company designates an alternate place of payment. 

(ii)    The Paying Agent hereby agrees with the Trustee, subject to the provisions of Section 3.04 of
the Base Indenture: 
 (A)    that it will hold all sums received by it as such Paying Agent for the
payment of the principal of or interest on, or Additional Amounts related to, the Notes (whether such sums have been paid to it by the Company or any other obligor on the Notes) in trust for the benefit of the Holders of the Notes or of the Trustee;

 (B)    that it will give the Trustee notice of any failure by the Company (or by any other obligor on
the Notes) to make any payment of the principal of or interest on, or Additional Amounts related to, the Notes when the same shall be due and payable; 

  
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 (C)    that it will pay any such sums so held in trust
by it to the Trustee upon the Trustee’s written request at any time during the continuance of the failure referred to in Section 1.01(h)(ii)(B) above; and 

(D)    that it will perform all other duties of the Paying Agent as set forth in the Indenture. 

(i)     The Notes that are issued in a registered offering pursuant to the Securities Act shall be substantially in the
form attached hereto as Exhibit A, the terms of which are herein incorporated by reference. Such Global Notes shall be referred to collectively herein as the “Global Notes,” and shall be deposited with the Depositary or its
nominee, for credit to an account of an Agent Member, and shall be duly executed by the Company and authenticated by the Trustee as hereinafter provided. The aggregate principal amount of a Global Note may from time to time be increased or decreased
by adjustments made on the records of the Trustee, as hereinafter provided. 
 (j)    Each Global Note (and all Notes
issued in exchange therefor or substitution thereof) shall bear the applicable legends set forth in Exhibit A (the “Note Legends”) on the face thereof until the Note Legends are removed or not required. 

(k)    The Notes shall be denominated in Euro and shall be issuable in minimum denominations of €100,000 or any
integral multiple of €1,000 in excess thereof. If Euro is unavailable to the Company due to the imposition of exchange controls or other circumstances beyond its control or the Euro is no longer used by the then member states of the European
Monetary Union that have adopted the Euro as their currency or for the settlement of transactions by public institutions of or within the international banking community, then all payments in respect of the Notes will be made in Dollars until Euro
is again available to the Company or so used. In such circumstances, the amount payable on any date in Euro will be converted into Dollars at the rate mandated by the Board of Governors of the Federal Reserve System as of the close of business on
the second Business Day prior to the relevant payment date or, if the Board of Governors of the Federal Reserve System has not announced a rate of conversion, on the basis of the most recent Dollar/Euro exchange rate published in The Wall Street
Journal on or prior to the second Business Day prior to the relevant payment date or, in the event The Wall Street Journal has not published such exchange rate, the rate will be determined in the Company’s sole discretion on the basis of the
most recently available market exchange rate for the Euro. For the avoidance of doubt, any such payment in respect of the Notes so made in Dollars will not constitute an Event of Default. Neither the Trustee nor the Paying Agent shall have any
responsibility for any calculation or conversion in connection with the foregoing. 
 (l)    The Notes may be redeemed by
the Company prior to the maturity date, as provided in Section 1.05. 
 (m)    The Notes will not have the benefit
of any sinking fund. 

  
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 (n)    Except as provided herein, the Holders of the Notes shall have no
special rights in addition to those provided in the Base Indenture upon the occurrence of any particular events. 

(o)    The Notes will be direct, unconditional, senior unsecured and unsubordinated obligations of the Company, and will
rank equal in right of payment to all of the Company’s other existing and future senior unsecured indebtedness and among themselves, and senior in right of payment to any subordinated indebtedness the Company may incur. 

(p)    The Notes are not convertible into shares of common stock or other securities of the Company. 

(q)    The restrictive covenants set forth in Section 1.06 shall be applicable to the Notes. 

Section 1.02.    Additional Defined Terms. As used herein, the following defined terms shall have the
following meanings with respect to the Notes only: 
 “Additional Amounts” has the meaning set forth in Section 1.11.

 “Additional Notes” has the meaning set forth in Section 1.01(c). 

“Agent Members” has the meaning set forth in Section 1.08(b). 

“Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global Note,
the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange at the relevant time. 

“Attributable Debt” means, with respect to any sale and lease-back transaction, the present value of the minimum rental
payments called for during the term of the lease (including any period for which such lease has been extended), determined in accordance with GAAP, discounted at a rate that, at the inception of the lease, the lessee would have incurred to borrow
over a similar term the funds necessary to purchase the leased assets. 
 “Business Day” means each Monday, Tuesday,
Wednesday, Thursday and Friday (i) that is not a day on which banking institutions in the City of New York, London or another place of payment on the Notes are authorized or obligated by law, regulation or executive order to close and
(ii) that is also a London banking day and is a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer system (the TARGET2 system), or any successor thereto, operates. 

“Capital Lease Obligations” means, at the time any determination is to be made, the amount of the liability in respect of a
capital lease that would at that time be required to be capitalized on a balance sheet prepared in accordance with GAAP. 

  
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 “Change of Control” means the occurrence of any of the following: 

(1)    the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or
consolidation), in a single transaction or a series of related transactions, of all or substantially all of the Company’s assets and the assets of its Subsidiaries, taken as a whole, to one or more “persons” (as that term is defined
in Section 13(d)(3) of the Exchange Act) (other than to the Company or one of its Subsidiaries); 
 (2)    the
consummation of any transaction (including, without limitation, any merger or consolidation) as a result of which any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Voting Stock of the Company, measured by voting power rather than number of
shares; 
 (3)    the Company consolidates with, or merges with or into any Person, or any Person consolidates with, or
merges with or into the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or such other person is converted into or exchanged for cash, securities or other property, other than any such
transaction where the shares of Voting Stock of the Company outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving Person immediately after giving effect
to such transaction; or 
 (4)    the adoption of a plan relating to the liquidation or dissolution of the Company. 

Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (i) (A) the Company becomes a direct or indirect wholly
owned subsidiary of a holding company and (B) the direct or indirect holders of the Company’s Voting Stock immediately prior to that transaction are the holders of more than 50% of the Voting Stock of such holding company, or (ii) the
Company consolidates with, or merges with or into, any person that results in the surviving person remaining a public company. 

“Change of Control Offer” has the meaning set forth in Section 1.06(d). 

“Change of Control Payment” has the meaning set forth in Section 1.06(d). 

“Change of Control Payment Date” has the meaning set forth in Section 1.06(d). 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event. 

“Clearstream” means Clearstream Banking, société anonyme, or its successors. 

“Code” has the meaning set forth in Section 1.11(a)(iv). 

  
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 “Company” means the Person named as the “Company” in the
first paragraph of this Indenture until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Comparable Government Bond” means, in relation to any Comparable Government Bond Rate calculation, a German federal
government bond whose maturity is closest to the maturity of the Notes to be redeemed, or if the Company or the Independent Investment Banker considers that such similar bond is not in issue, such other German federal government bond as the Company
or the Independent Investment Banker, with the advice of three brokers of, and/or market makers in, German federal government bonds selected by the Company or the Independent Investment Banker, determine to be appropriate for determining the
Comparable Government Bond Rate. 
 “Comparable Government Bond Rate” means, with respect to the Redemption Date, the
price, expressed as a percentage (rounded to three decimal places, with 0.0005 being rounded upwards), at which the gross redemption yield on the Notes to be redeemed, if they were to be purchased at such price on the third Business Day prior to any
Redemption Date, would be equal to the gross redemption yield on such Business Day of the Comparable Government Bond on the basis of the middle market price of the Comparable Government Bond prevailing at 11:00 a.m. (London time) on such
Business Day as determined by the Company or the Independent Investment Banker. 
 “Consolidated Net Tangible Assets”
means, as of any particular time, the aggregate amount of the Company’s assets and the assets of the Company’s Subsidiaries (in each case, less applicable reserves and other properly deductible items) after deducting from such amount: 

(1)    all current liabilities other than (A) notes and loans payable, (B) current maturities of long-term debt
and (C) current maturities of Capital Lease Obligations, and 
 (2)    intangible assets, to the extent included in
such aggregate assets, all as set forth on the Company’s then most recent consolidated balance sheet and computed in accordance with GAAP. 

“Definitive Security” means a certificated Note registered in the name of the Holder thereof and issued in accordance with
Section 2.01 of the Base Indenture. 
 “Depositary” means Elavon Financial Services DAC, or its successors. 

“Euro” or “€” means the single currency of the participating member states of the European Monetary
Union of the Treaty Establishing the European Community, as amended from time to time. 
 “Euroclear” means Euroclear Bank
SA/NV, or its successors. 
 “Event of Default” has the meaning set forth in Section 1.07(a). 

  
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 “Fitch” means Fitch Ratings, Inc., and its successors. 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Public Company
Accounting Oversight Board (United States) and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession,
which are in effect as of the date of this Indenture. 
 “Global Note” means, individually and collectively, each of the
Notes in global form issued to the Depositary or its nominee. 
 “Indebtedness” means, with respect to any Person, and
without duplication, any indebtedness, whether or not contingent, in respect of borrowed money or evidenced by bonds, notes, debentures or similar instruments or obligations under capital leases, except any such balance that constitutes an accrued
expense or trade payable, if and to the extent any of the foregoing indebtedness would appear as a liability upon an unconsolidated balance sheet of such Person in accordance with GAAP (but does not include contingent liabilities which appear only
in a footnote to a balance sheet); provided that Indebtedness shall exclude (A) Indebtedness that is required to be converted at, or prior to, maturity into equity securities of the Company, and (B) advances and overdrafts in respect of
cash pooling and multi-currency notional pooling programs. 
 “Independent Investment Banker” means an independent
investment institution of national standing, which may be one of the Reference Bond Dealers or their respective affiliates, selected by the Company. 

“Interest Payment Date” means the stated due date of an installment of interest on the Notes. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s; BBB- (or the equivalent) by S&P; and BBB- (or the equivalent) by Fitch, and the equivalent investment grade credit rating from any additional rating agency or Rating
Agencies selected by the Company. 
 “Lien” means any lien, security interest, charge, mortgage, pledge or other
encumbrance of any kind (including any conditional sale or other title retention agreement, any lease in the nature thereof, and any agreement to give any security interest). 

“Moody’s” means Moody’s Investors Service, Inc. and its successors. 

“Note Legends” has the meaning set forth in Section 1.01(j). 

“Notes” means the Initial Notes, any Additional Notes and any other notes issued in respect thereof. 

“Par Call Date” means October 15, 2025.  

  
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 “Rating Agencies” means (1) each of Moody’s, S&P and Fitch;
and (2) if any of Moody’s, S&P or Fitch ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the control of the Company, a “nationally recognized statistical rating
organization” within the meaning of Section 3(a)(62) under the Exchange Act selected by the Company as a replacement agency for Moody’s, S&P or Fitch, as the case may be. 

“Rating Event” means the rating on the Notes is lowered by at least two of the three Rating Agencies and the Notes are rated
below an Investment Grade Rating by at least two of the three Rating Agencies on any day during the period (which period will be extended so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by any of
the Rating Agencies) commencing on the earlier of the date of the first public occurrence of a Change of Control or the date of public notice of an agreement that, if consummated, would result in a Change of Control and ending 60 days following
consummation of such Change of Control. 
 “Redemption Date” means, when used with respect to any Note to be redeemed, the
date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price” means, when used with respect to any
Note to be redeemed, the price at which it is to be redeemed pursuant to this Indenture. 
 “Reference Bond Dealer” means
any other broker of, and/or market maker in, German government bonds (a “Primary Bond Dealer”) selected by the Company. 

“Restricted Subsidiary” means any Subsidiary (a) substantially all the property of which is located, or substantially
all the business of which is carried on, within the United States, or (b) which holds more than 5.0% of the Company’s Consolidated Net Tangible Assets; except for any Subsidiary primarily engaged in financing receivables or in the finance
business. 
 “S&P” means S&P Global Ratings, a division of S&P Global, Inc., and its successors. 

“Subsidiary” of any specified Person means any corporation, association or other business entity of which more than 50% of
the total voting power of shares of capital stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such
Person or one or more of the other Subsidiaries of that Person or a combination thereof. 
 “Tax” has the meaning set forth
in Section 1.11. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, and the rules and
regulations thereunder as in effect on the date of this Indenture, except to the extent that the Trust Indenture Act or any amendment thereto expressly provides for application of the Trust Indenture Act as in effect on another date. 

  
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 “United States” means the United States of America (including the states
and the District of Columbia and any political subdivision thereof). 
 “United States person” has the meaning set forth in
Section 1.11. 
 “Voting Stock” of any specified Person as of any date means the capital stock of such Person that is
at the time entitled to vote generally in the election of the board of directors of such Person. 

Section 1.03.    Trust Indenture Act Provisions. Whenever this Indenture refers to a provision of the Trust
Indenture Act, that provision is incorporated by reference in and made a part of this Indenture. This Indenture shall also include those provisions of the Trust Indenture Act required to be included herein by the provisions of the Trust Indenture
Reform Act of 1990. The following Trust Indenture Act terms used in this Indenture have the following meanings: 
 “indenture
securities” means the Notes; 
 “indenture security holder” means a Holder of a Note; 

“indenture to be qualified” means the Indenture; 

“indenture Trustee” or “institutional Trustee” means the Trustee; and 

“obligor” on the indenture securities means the Company or any other obligor on the Notes. 

All other terms used in this Indenture that are defined in the Trust Indenture Act, defined by Trust Indenture Act reference to another
statute or defined by any Securities and Exchange Commission rule and not otherwise defined herein have the meanings assigned to them therein. 

Section 1.04.    Payment, Transfer and Exchange. 

(a)    Registration of Transfer and Exchange. To permit registrations of transfers and exchanges, the Company shall
execute a new Note or Notes of the same series as the Note presented for a like aggregate principal amount and in authorized denominations and the Trustee shall authenticate and deliver such Note or Notes upon receipt of an Issuer Order for the
authentication and delivery of such Notes. 
 All Notes issued upon any registration of transfer or exchange of Notes shall be the valid
obligations of the Company, evidencing the same indebtedness, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or exchange. Prior to such due presentment for the registration of a
transfer of any Note, the Trustee, the Company, any paying agent and the Registrar may deem and treat the person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and
interest on such Notes and for all other purposes, and none of the Trustee, the Company, the paying agent or the Registrar shall be affected by notice to the contrary. 

  
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 All certifications, certificates and opinions of counsel which may be required to be
submitted to the Trustee to effect a registration of transfer or exchange may be submitted by e-mail or facsimile, to be followed by originals. 

(b)    Payment. The principal and interest, and any Additional Amounts due, on Notes represented by Global
Securities will be payable to the Depositary or its nominee, as the case may be, as the sole registered owner and the sole Holder of the Global Securities represented thereby. 

(c)    Transfer and Exchange of Beneficial Interests in the Global Securities. The transfer and exchange of
beneficial interests in the Global Securities shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in any Global Note may be transferred to persons who take
delivery thereof in the form of a beneficial interest in a Global Note. 
 Section 1.05.    (a) Optional
Redemption. The provisions of Article 11 of the Base Indenture, as amended by the provisions of this Seventh Supplemental Indenture, shall apply to the Notes. The Notes are redeemable, as a whole or in part, at the Company’s option, at any
time or from time to time prior to the Par Call Date, at a Redemption Price equal to the greater of: 

(i)    100% of the principal amount of such Notes to be redeemed; and 

(ii)    as determined by the Independent Investment Banker, the sum of the present values of the remaining
scheduled payments of principal and interest thereon that would have been payable in respect of such Notes calculated as if the maturity date of such Notes was the Par Call Date (not including any portion of such interest payments accrued as of the
Redemption Date), discounted to the Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA)) at the Comparable Government Bond Rate plus 30 basis points, 

plus, in the case of either (i) or (ii), accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

On or after the Par Call Date, the Notes will be redeemable at a Redemption Price equal to 100% of the principal amount of the Notes being
redeemed, plus accrued and unpaid interest thereon to but excluding the Redemption Date. 
 (b)    Redemption for Tax
Reasons. If, as a result of any change in, or amendment to, the laws (or any regulations or rulings promulgated under the laws) of the United States (or any taxing authority in the United States), or any change in, or amendments to, an official
position regarding the application or interpretation of such laws, regulations or rulings, which change or amendment is announced or becomes effective on or after September 19, 2018, the Company becomes or, based upon a written opinion of
independent counsel selected by the Company, will become obligated to pay Additional 

  
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Amounts as described herein under Section 1.11 with respect to the Notes, then the Company may at any time at its option redeem, in whole but not in part, the Notes on not less than 10 nor
more than 60 days prior notice, at a Redemption Price equal to 100% of their principal amount, together with accrued and unpaid interest on the Notes to, but not including, the Redemption Date. 

(c)    Unless the Company defaults in payment of the Redemption Price, on and after any Redemption Date for the Notes,
interest shall cease to accrue on the Notes or portions thereof called for redemption. 
 (d)    Notice of any
redemption with respect to the Notes shall be given in the manner provided for in Section 11.02 of the Base Indenture on at least 10 days’ but not more than 90 days’ prior notice to the Redemption Date, to each Holder of Notes to be
redeemed, except that redemption notices may be delivered more than 90 days prior to a Redemption Date if such notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of the Indenture. 

(e)    At any time, the Company may repurchase Notes in the open market and may hold such Notes or surrender such Notes to
the Trustee for cancellation pursuant to Section 2.10 of the Base Indenture. 
 (f)    For the avoidance of doubt,
the Trustee shall not be required to calculate the Redemption Price or the Comparable Government Bond Rate. 

Section 1.06.    Additional Covenants. The following additional covenants shall apply with respect to the
Notes so long as any of the Notes remain outstanding: 
 (a)    Limitation on Liens. Other than as provided in
Section 1.06(c) below, neither the Company nor any of its Restricted Subsidiaries may create, incur, assume or suffer to exist any Lien upon any of the Company’s property, to secure any Indebtedness of the Issuer or a Restricted
Subsidiary, except for: 
 (i)    Liens existing on the date hereof and any extension, renewal or
replacement (or successive extensions, renewals or replacements) of any such Lien; provided that no such extension, renewal or replacement will extend to or cover any property other than the property covered by such existing Lien; 

(ii)    Liens on property existing at the time the Company or any of its Restricted Subsidiaries acquires
such property, provided that such Liens: 
 (A)    are not incurred in connection with, or in
contemplation of the acquisition of the property acquired; and 
 (B)    do not extend to or cover any of
the Company’s property or any of its Restricted Subsidiaries’ property other than the property so acquired; 

  
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 (iii)    Liens on any property of a corporation or other
entity existing at the time such corporation or entity becomes the Company’s Restricted Subsidiary or is merged into or consolidated with the Company or a Restricted Subsidiary or at the time of a sale, lease or other disposition of the
properties of such corporation or entity as an entirety or substantially as an entirety to the Company or a Restricted Subsidiary, provided that such Liens: 

(A)    are not incurred in connection with or in contemplation of such corporation or entity becoming a
Restricted Subsidiary or merging or consolidating with the Company or a Restricted Subsidiary or are not incurred in connection with or in contemplation of the sale, lease or other disposition of the properties of such corporation or other entity;
and 
 (B)    do not extend to or cover any of the Company’s property or any of its Restricted
Subsidiaries’ property other than the property of such corporation or other entity; 

(iv)    purchase money Liens upon or in any real or personal property (including fixtures and other
equipment) that the Company or any of its Restricted Subsidiaries hold or have acquired to secure the purchase price of such property or to secure Indebtedness incurred solely to finance or refinance the acquisition or improvement of such property
and incurred within 270 days after completion of such acquisition or improvement; 
 (v)    Liens to
secure Indebtedness owing to the Company or to a Restricted Subsidiary; 
 (vi)    Liens for taxes,
assessments or other governmental charges not yet due or payable or not overdue for a period of more than 60 days or that are being contested by the Company or a Restricted Subsidiary, and for which the Company maintains adequate reserves in
accordance with GAAP, and attachment, judgment and other similar Liens arising in connection with legal proceedings; provided that any such judgment does not constitute an Event of Default; 

(vii)    Liens in favor of the United States to secure amounts paid to the Company or any of its Restricted
Subsidiaries as advance or progress payments under government contracts entered into by it so long as such Liens cover only (x) special bank accounts into which only such advance or progress payments are deposited and (y) supplies covered
by such government contracts and material and other property acquired for or allocated to the performance of such government contracts; 

(viii)    Liens incurred in connection with an asset acquisition or a project financed with a non-recourse obligation; 
 (ix)    Liens in favor of suppliers,
producers, operators, workmen, materialmen, mechanics, workmen or repairmen, landlord’s Liens for rent or other similar Liens arising, in each case, in the ordinary course of business in respect of obligations which are not overdue or which are
being contested by the Company or any Restricted Subsidiary in good faith and by appropriate proceedings; 

  
 14 

 (x)    Liens consisting of zoning restrictions,
licenses, easements, covenants, rights-of-way, utility easements, building restrictions and similar encumbrances and restrictions on the use of real property and minor
irregularities that do not materially impair the use of the real property; 
 (xi)    Liens arising under
leases or subleases of real or personal property that do not, individually or in the aggregate, materially detract from the value of such real or personal property or materially interfere with the ordinary conduct of the business conducted at such
real property or with respect to such personal property; 
 (xii)    Liens arising under licenses or
sublicenses of intellectual property granted in the ordinary course of business; 
 (xiii)    Liens
arising by reason of deposits with, or giving any form of security to, any governmental agency or any body created or approved by law or government regulation; 

(xiv)    Liens created by or resulting from any litigation or other proceeding that is being contested in
good faith by appropriate proceedings, including Liens arising out of judgments or awards against the Company or any Restricted Subsidiary with respect to which the Company or any of its Restricted Subsidiaries is in good faith prosecuting an appeal
or proceedings for review for which the time to make an appeal has not yet expired, and Liens relating to final unappealable judgments that are satisfied within 60 days of the date of judgment or Liens incurred by the Company or any Restricted
Subsidiary for the purposes of obtaining a stay or discharge in the course of any litigation proceeding to which the Company or any of its Restricted Subsidiaries is a party; 

(xv)    Liens on deposits securing obligations under cash pooling and multi- currency notional pooling
programs; 
 (xvi)    Liens relating to hedging and similar arrangements entered into in the ordinary
course of business, including without limitation interest rate or foreign currency hedging arrangements; 

(xvii)    Liens incurred or deposits made by the Company or its Restricted Subsidiaries in the ordinary
course of business in connection with workers’ compensation, unemployment insurance and other types of social security benefits, taxes, assessments, statutory obligations or other similar charges, or to secure the performance of tenders,
statutory obligations, bids, leases, government contracts, performance and return-of-money bonds or other similar obligations (exclusive of obligations for the payment
of borrowed money); 

  
 15 

 (xviii)    Liens on account receivables or related
assets resulting from the sale of such account receivables or such related assets, or Liens arising in connection with or related to any securitization financings, factoring arrangements or assignments thereof that may be entered into by the Company
or any Restricted Subsidiary; 
 (xix)    Liens, pledges or deposits made in the ordinary course of
banking arrangements in connection with any netting or set-off arrangements for the purpose of netting debit and credit balances; 

(xx)    Liens on property incurred in sale and lease-back transactions permitted under
Section 1.06(b); and 
 (xxi)    Liens constituting any extension, renewal or replacement of any
Liens in provisions (i) to (xx) above to the extent the principal amount of the Indebtedness secured by such Lien is not increased (except to the extent of any premiums, fees or other costs associated with any such extension, renewal or
replacement) and the property encumbered by any such Lien is the same as or substantially similar in nature to the property encumbered by the Lien being extended, renewed or replaced. 

Notwithstanding the foregoing, the Company or any of its Restricted Subsidiaries may create, incur, assume or suffer to exist Indebtedness secured by Liens
not otherwise permitted by this Section 1.06(a) if the Company first makes effective provisions whereby the Notes (together with any other Indebtedness of the Company then existing or thereafter created ranking equally with such Notes and
similarly entitled to be equally and ratably secured) shall be secured equally and ratably with such Indebtedness for so long as such Indebtedness shall so be secured. 

(b)    Limitation on Sale and Lease-back Transactions. Other than as provided in Section 1.06(c) below, neither
the Company nor any of its Restricted Subsidiaries may enter into any sale and lease-back transaction with a term longer than three years, unless: 

(i)    such transaction was entered into prior to the date hereof; 

(ii)    such transaction was for the sale and leasing back to the Company of any property by one of its
Restricted Subsidiaries; 
 (iii)    the Company would be entitled to incur Indebtedness secured by a
mortgage on the property to be leased in an amount equal to the Attributable Debt with respect to such sale and lease-back transaction without equally and ratably securing the notes pursuant to Section 1.06(a) above; or 

(iv)    the Company applies an amount equal to the fair value of the property sold to the purchase of
property or to the retirement of its long-term Indebtedness (including the Notes) within 365 days of the effective date of any such sale and lease-back transaction. 

  
 16 

 (c)    Permitted Liens and Permitted Sale and Lease-back
Transactions. Notwithstanding the restrictions set forth under Section 1.06(a) and Section 1.06(b), the Company or any of its Restricted Subsidiaries may create, incur, assume or suffer to exist any Lien or enter into any sale and
lease-back transaction not otherwise permitted pursuant to Section 1.06(a) or Section 1.06(b); provided that, at the time of such event, and after giving effect to that event, the aggregate amount of all Indebtedness secured by
Liens permitted by this Section 1.06(c) (excluding the Liens permitted pursuant to Section 1.06(a)) and the aggregate amount of all Attributable Debt in respect of sale and lease-back transactions permitted by this Section 1.06(c)
(excluding sale and lease-back transactions permitted under Section 1.06(b)) measured, in each case, at the time any such Lien is incurred or any such sale and lease-back transaction is entered into, by the Company or any Restricted Subsidiary
does not exceed 20% of the Company’s Consolidated Net Tangible Assets. 
 (d)    Purchase of Notes upon a Change
of Control Triggering Event. (i) If a Change of Control Triggering Event occurs with respect to the Notes, unless the Company has exercised its option to redeem such Notes as described in Section 1.05 hereof, the Company will make an
offer (a “Change of Control Offer”) to each Holder of such Notes to repurchase all or any part (equal to €100,000 or an integral multiple of €1,000 in excess thereof) of that Holder’s Notes at a repurchase price,
payable in cash, equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest, on the Notes repurchased to, but excluding, the date of repurchase (the “Change of Control Payment”). Within 30
days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change of Control, a notice will be sent
to Holders of the Notes, with a copy to the Trustee, describing the transaction that constitutes or may constitute the Change of Control Triggering Event and offering to repurchase such Notes on the date specified in the notice, which date will be
no earlier than 10 days and no later than 90 days from the date such notice is delivered (the “Change of Control Payment Date”). The notice will, if delivered prior to the date of consummation of the Change of Control, state
that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date and shall state the following: 

(A)    that the Change of Control Offer is being made pursuant to this Section 1.06(d) and that all
Notes tendered will be accepted for payment; 
 (B)    the purchase price and the purchase date, which
shall be no earlier than 10 days and no later than 90 days from the date such notice is mailed; 

(C)    that any Note not tendered will continue to accrue interest; 

(D)    that, unless the Company defaults in the payment of the Change of Control Payment, all Notes
accepted for payment pursuant to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date; 

  
 17 

 (E)    that Holders electing to have any Notes purchased
pursuant to a Change of Control Offer will be required to surrender the Notes, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the paying agent at the
address specified in the notice prior to the close of business on the third Business Day preceding the Change of Control Payment Date; 

(F)    that Holders will be entitled to withdraw their election if the paying agent receives, not later
than the close of business on the second Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes delivered for purchase, and a
statement that such Holder is withdrawing his election to have the Notes purchased; and 
 (G)    that
Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to €100,000 in principal amount or an integral
multiple of €1,000 in excess thereof. 
 The Company will comply with the requirements of Rule 14e-1 under the
Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the
provisions of any securities laws or regulations conflict with the provisions of this Section 1.06(d), the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under
this Section 1.06(d) by virtue of such compliance. 
 (ii)    On the Change of Control Payment Date,
the Company will, to the extent lawful: 
 (A)    accept for payment all Notes or portions of Notes
properly tendered pursuant to the Change of Control Offer; 
 (B)    deposit with the Paying Agent an
amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and 

(C)    deliver or cause to be delivered to the Trustee the Notes properly accepted together with an
Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased. 

  
 18 

 The Paying Agent will promptly deliver (but in any case not later than five days after the Change of Control
Payment Date) to each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate and deliver (or cause to be transferred by book entry) to each Holder a new Note equal in principal
amount to any unpurchased portion of the Notes surrendered, if any. The Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. 

(iii)    Notwithstanding anything to the contrary in this Section 1.06(d), the Company will not be
required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if (a) a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements set forth in this
Section 1.06(d) and the third party repurchases all Notes properly tendered and not withdrawn under its offer, or (b) notice of redemption has been given pursuant to Section 1.05 hereof, unless and until there is a default in payment
of the applicable Redemption Price. 
 Section 1.07.    Defaults and Remedies. (a) Events of
Default. This Section 1.07(a) shall replace Section 4.01 of the Base Indenture with respect to the Notes only. 
 Each of the
following is an “Event of Default” with respect to the Notes: 
 (i)    default in the
payment of interest on the Notes when due, and such default has continued for a period of 90 days or more and the time for such payment is due has not been extended or deferred; 

(ii)    default in the payment (at maturity, upon redemption or otherwise) of the principal of the Notes
when due; 
 (iii)    failure by the Company for 90 days after notice to the Company by the Trustee
or the Holders of at least 25% in aggregate principal amount of the Notes then Outstanding to perform or observe any of the other covenants or agreements in this Indenture (other than defaults specified in clauses (i) or (ii) above); 

(iv)    any of the Company’s Indebtedness in the aggregate outstanding principal amount of
$250 million or more either: 
 (A)    becomes due and payable prior to the due date for payment of
such Indebtedness by reason of acceleration of such Indebtedness following a default by the Company; or 

(B)    is not repaid at, and remains unpaid after, maturity as extended by any applicable period of grace
or any guarantee given by the Company in respect of Indebtedness of any other Person in the aggregate outstanding principal amount of $250 million or more is not honored when, and remains dishonored after, becoming due; 

  
 19 

 (v)    the Company pursuant to or within the meaning of
any Bankruptcy Law (A) commences a voluntary case, (B) consents to the entry of an order for relief against it in an involuntary case, (C) consents to the appointment of a custodian of it or for all or substantially all of its
property or (D) makes a general assignment for the benefit of its creditors; or 
 (vi)    a court
of competent jurisdiction enters an order or decree under any Bankruptcy Law that (A) is for relief against the Company in an involuntary case, (B) appoints a custodian of the Company for all or substantially all of the Company’s
properties, or (C) orders the liquidation of the Company, and, in any of the above cases, the order or decree remains unstayed and in effect for 90 days. 

(b)    Acceleration of Maturity. In the case of an Event of Default specified in clause (v) or (vi) of
Section 1.07(a), all outstanding Notes will become due and payable immediately without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of
the then Outstanding Notes may declare all the Notes to be due and payable immediately by notice in writing to the Company (and to the Trustee if written notice is given by such Holders). Upon any such declaration, the Notes shall become due and
payable immediately. 
 The Holders of a majority in aggregate principal amount of the then Outstanding Notes by written notice to the
Trustee may, on behalf of all of the Holders, rescind an acceleration and its consequences with respect to such Notes, if the rescission would not conflict with any judgment or decree and if all existing Events of Default with respect to such Notes
(except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or waived. 

Section 1.08.    Book-Entry Provisions for Global Notes. (a) Each Global Note initially shall (i) be
registered in the name of the Depositary for such Global Note or the nominee of such Depositary, in each case for credit to the account of an Agent Member, and (ii) be delivered to the Depositary. None of the Company, any agent of the Company
or the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Note, or for maintaining, supervising or reviewing any records relating to
such beneficial ownership interests. 
 (b)    Members of, or participants and account holders in, Euroclear and
Clearstream (“Agent Members”) shall have no rights under this Indenture with respect to any Global Note held on their behalf by the Depositary, or its custodian, or under such Global Notes. The Depositary or its nominee, as the case
may be, may be treated by the Company, any other obligor upon the Notes, the Trustee and any agent of any of them as the absolute owner of the Global Notes for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the
Company, any other obligor upon the Notes, the Trustee or any agent of any of them from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members,
the operation of customary practices governing the 

  
 20 

 
exercise of the rights of a beneficial owner of any Note. The Holder of a Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold
interests through Agent Members, to take any action that a Holder is entitled to take under this Indenture or the Notes. 

(c)    Transfers of a Global Note shall be limited to transfers of such Global Note in whole, but, subject to the
immediately succeeding sentence, not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in a Global Note may not be transferred or exchanged for physical Notes unless (i) the Company has
consented thereto in writing, or such transfer or exchange is made pursuant to the next sentence, and (ii) such transfer or exchange is in accordance with the Applicable Procedures. Subject to the limitation on issuance of physical Notes,
physical Notes shall be transferred to all beneficial owners in exchange for their beneficial interests in the relevant Global Note, if (i) the Depositary notifies the Company at any time that it is unwilling or unable to continue as Depositary
for the Global Notes and a successor depositary is not appointed within 90 days; or (ii) the Company, at its option, notifies the Trustee that it elects to cause the issuance of physical Notes. 

(d)    The transfer and exchange of a Global Note or beneficial interests therein shall be effected through the
Depositary, in accordance with the Indenture (including applicable restrictions on transfer set forth in Section 1.09) and the Applicable Procedures therefor of the Depositary. Any beneficial interest in one of the Global Notes that is
transferred to a Person who takes delivery in the form of an interest in a different Global Note will, upon transfer, cease to be an interest in such Global Note and become an interest in the other Global Note and, accordingly, will thereafter be
subject to all transfer restrictions, if any, and other procedures applicable to beneficial interests in such other Global Note for as long as it remains such an interest. A transferor of a beneficial interest in a Global Note shall deliver to the
Registrar a written order given in accordance with the Depositary’s Applicable Procedures containing information regarding the participant account of the Depositary to be credited with a beneficial interest in the relevant Global Note. The
Registrar shall, in accordance with such instructions, instruct the Depositary to credit to the account of the Person specified in such instructions a beneficial interest in such Global Note and to debit the account of the Person making the transfer
the beneficial interest in the Global Note being transferred. 
 Section 1.09.    Satisfaction and Discharge of
Indenture. This Section 1.09 shall replace Section 9.01(a) of the Base Indenture with respect to the Notes only. 

(a)    either (i) all the Notes that have been authenticated and delivered have been cancelled or delivered to the
Trustee for cancellation (other than any Notes which shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.09 of the Base Indenture); or (ii) all the Notes issued that have not been
cancelled or delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable at their final maturity within one year, or are to be called for redemption within one year, under irrevocable
arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the Company’s name, and at the Company’s expense and the Company shall 

  
 21 

 
have irrevocably deposited or caused to be deposited with the Trustee sufficient funds to pay and discharge the entire indebtedness on the Notes to pay principal, interest, if any, and any
premium, which for purposes of this provision shall be calculated without applying any “present value discount” and using a Comparable Government Bond Rate of no less than zero. 

Section 1.10.    Successors. Upon any consolidation or merger, or any sale, transfer, lease, conveyance or
other disposition of the assets of the Company substantially as an entirety in a transaction that is subject to, and that complies with the provisions of, Article 8 of the Base Indenture, the successor Person formed by such consolidation or into or
with which the Company is merged or to which such sale, lease, transfer, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, lease, transfer,
conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall refer instead to the successor Person and not to the Company), and may exercise every right and power of the Company under this Indenture
with the same effect as if such successor Person had been named as the Company herein; provided, however, that the predecessor Company shall not be relieved from the obligation to pay the principal of and interest on the Notes except
in the case of a sale of all of the Company’s assets in a transaction that is subject to, and that complies with the provisions of, this Section 1.10. 

Section 1.11.    Payment of Additional Amounts. The Company will, subject to the exceptions and limitations
set forth below, pay as additional interest on the Notes such additional amounts (“Additional Amounts”) as are necessary in order that the net payment by the Company or the Paying Agent of the principal of and interest on the Notes
to a Holder who is not a United States person, after withholding or deduction for any present or future tax, assessment or other governmental charge (“Tax”) imposed by the United States or a taxing authority in the United States,
will not be less than the amount provided in the Notes to be then due and payable; provided, however, that the foregoing obligation to pay Additional Amounts shall not apply: 

(a)    to any Tax that is imposed by reason of the Holder (or the beneficial owner for whose benefit such Holder holds the
Notes), or a fiduciary, settlor, beneficiary, member or shareholder of the Holder if the Holder is an estate, trust, partnership or corporation, or a person holding a power over an estate or trust administered by a fiduciary holder, being considered
as: 
 (i)    being or having been engaged in a trade or business in the United States or having or
having had a permanent establishment in the United States; 
 (ii)    having a current or former
connection with the United States (other than a connection arising solely as a result of the ownership of the Notes, the receipt of any payment or the enforcement of any rights hereunder), including being or having been a citizen or resident of the
United States; 
 (iii)    being or having been a personal holding company, a passive foreign investment
company or a controlled foreign corporation for U.S. federal income tax purposes or a corporation that has accumulated earnings to avoid U.S. federal income tax; 

  
 22 

 (iv)    being or having been a “10-percent shareholder” of us as defined in Section 871(h)(3) of the United States Internal Revenue Code of 1986, as amended (the “Code”); 

(v)    being a controlled foreign corporation that is related to the Company within the meaning of
Section 864(d)(4) of the Code; or 
 (vi)    being a bank receiving payments on an extension of
credit made pursuant to a loan agreement entered into in the ordinary course of its trade or business; 
 (b)    to any
Holder that is not the sole beneficial owner of the Notes, or a portion of the Notes, or that is a fiduciary, partnership or limited liability company, but only to the extent that a beneficial owner with respect to the Holder, a beneficiary or
settlor with respect to the fiduciary, or a beneficial owner or member of the partnership or limited liability company would not have been entitled to the payment of an Additional Amount had the beneficiary, settlor, beneficial owner or member
received directly its beneficial or distributive share of the payment; 
 (c)    to any Tax that would not have been
imposed but for the failure of the Holder or any other person to comply with certification, identification or information reporting requirements concerning the nationality, residence, identity or connection with the United States of the Holder or
beneficial owner of the Notes, if compliance is required by statute, by regulation of the United States or any taxing authority therein or by an applicable income tax treaty to which the United States is a party as a precondition to exemption from
such Tax; 
 (d)    to any Tax that is imposed otherwise than by withholding by the Company or a paying agent from the
payment; 
 (e)    to any Tax that would not have been imposed but for a change in law, regulation, or administrative or
judicial interpretation that becomes effective more than 15 days after the payment becomes due or is duly provided for, whichever occurs later; 

(f)    to any estate, inheritance, gift, sales, excise, transfer, wealth, capital gains or personal property or similar
Tax; 
 (g)    to any Tax required to be withheld by any paying agent from any payment of principal of or interest on
any Note, if such payment can be made without such withholding by at least one other paying agent; 
 (h)    to any Tax
that would not have been imposed but for the presentation by the Holder of any Note, where presentation is required, for payment on a date more than 30 days after the date on which payment became due and payable or the date on which payment thereof
is duly provided for, whichever occurs later; 

  
 23 

 (i)    to any Tax imposed under Sections 1471 through 1474 of the
Code (or any amended or successor provisions), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or
practices adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such sections of the Code; or 

(j)    in the case of any combination of clauses (a) through (i) above. 

“United States person” as used in this Section means any individual who is a citizen or resident of the United States for
U.S. federal income tax purposes, a corporation, partnership or other entity created or organized in or under the laws of the United States, any state of the United States or the District of Columbia (other than a partnership that is not treated as
a United States person under any applicable Treasury regulations), or any estate or trust the income of which is subject to U.S. federal income taxation regardless of its source. The Notes are subject in all cases to any tax, fiscal or other law or
regulation or administrative or judicial interpretation applicable to the Notes. Except as specifically provided under this Section 1.11, the Company will not be required to make any payment for any Tax imposed by any government or a political
subdivision or taxing authority of or in any government or political subdivision. 
 If the Company is required to pay Additional Amounts
with respect to the Notes, the Company will notify the Trustee and Paying Agent pursuant to an Officers’ Certificate that specifies the Additional Amounts payable and when the Additional Amounts are payable. If the Trustee and the Paying Agent
do not receive such an Officers’ Certificate from the Company, the Trustee and Paying Agent may rely on the absence of such an Officers’ Certificate in assuming that no such Additional Amounts are payable. 

ARTICLE 2 

MISCELLANEOUS 

Section 2.01.    Definitions. Capitalized terms used but not defined in this Seventh Supplemental Indenture
shall have the meanings ascribed thereto in the Base Indenture. 
 Section 2.02.    Confirmation of
Indenture. The Base Indenture, as supplemented and amended by this Seventh Supplemental Indenture, is in all respects ratified and confirmed, and the Base Indenture, this Seventh Supplemental Indenture and all indentures supplemental thereto
shall be read, taken and construed as one and the same instrument. 
 Section 2.03.    Governing Law. THIS
INDENTURE AND THE NOTES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR THE NOTES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE
APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. 

  
 24 

 Section 2.04.    Severability. In case any provision in this
Seventh Supplemental Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 2.05.    Counterparts. This Seventh Supplemental Indenture may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

Section 2.06.    No Benefit. Nothing in this Seventh Supplemental Indenture, express or implied, shall give to
any person other than the parties hereto and their successors or assigns, and the Holders of the Notes, any benefit or legal or equitable rights, remedy or claim under this Seventh Supplemental Indenture or the Base Indenture. 

Section 2.07.    Trustee. The Trustee makes no representations or warranties as to the validity or sufficiency
of this Seventh Supplemental Indenture. 
 [Signature pages follow.] 

  
 25 

 IN WITNESS WHEREOF, the parties hereto have caused the Indenture to be duly executed as of
the date set forth above. 
  

					
	DXC TECHNOLOGY COMPANY
		
	By:	 	/s/ Paul Saleh
		 	Name:	 	Paul Saleh
		 	Title:	 	Executive Vice President,
		 	Chief Financial Officer
		
	By:	 	/s/ Neil A. Manna
		 	Name:	 	Neil A. Manna
		 	Title:	 	Principal Accounting Officer,
		 	Senior Vice President and Controller

  
 [Signature Page to
Seventh Supplemental Indenture] 

 
					
	 U.S. BANK NATIONAL ASSOCIATION, 

as Trustee

		
	By:	 	/s/ Elizabeth A. Boyd
		 	Name:	 	Elizabeth A. Boyd
		 	Title:	 	Authorized Signatory

  
 [Signature Page to
Seventh Supplemental Indenture] 

 
					
	ELAVON FINANCIAL SERVICES DAC, UK BRANCH, as Paying Agent
		
	By:	 	/s/ Michael Leong
		 	Name:	 	Michael Leong
		 	Title:	 	Authorized Signatory
		
	By:	 	/s/ Chris Hobbs
		 	Name:	 	Chris Hobbs
		 	Title:	 	Authorized Signatory

  
 [Signature Page to
Seventh Supplemental Indenture] 

 EXHIBIT A 

FORM OF GLOBAL NOTE 

[Global Notes Legend] 
 THIS
SECURITY IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A
PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, BY A NOMINEE OF THE DEPOSITARY TO THE
DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH A SUCCESSOR DEPOSITARY. 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR BANK, SA/NV, AS OPERATOR OF THE EUROCLEAR SYSTEM
(“EUROCLEAR”) AND CLEARSTREAM BANKING, SOCIÉTÉ ANONYME, LUXEMBOURG (“CLEARSTREAM, LUXEMBOURG” AND, TOGETHER WITH EUROCLEAR, “EUROCLEAR/CLEARSTREAM”), TO THE COMPANY OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF USB NOMINEES (UK) LIMITED OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR/CLEARSTREAM (AND ANY PAYMENT IS MADE TO
USB NOMINEES (UK) LIMITED OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR/CLEARSTREAM), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, USB NOMINEES (UK) LIMITED, HAS AN INTEREST HEREIN. 

  
 A-1 

 FORM OF 1.750% SENIOR NOTES DUE 2026 

 

			
	No. [                 ]	  	€[                    ]
	ISIN No.: XS1883245331	  	
	Common Code: 188324533	  	
	CUSIP No. 23355LAH9	  	

 DXC TECHNOLOGY COMPANY 

DXC TECHNOLOGY COMPANY (F.K.A. EVERETT SPINCO, INC.), a Nevada corporation (the “Company”), promises to pay to USB Nominees
(UK) Limited, or registered assigns, the principal sum of [                        ] Euros (€[    ]) on
January 15, 2026. 
 Interest Payment Dates: January 15 (the “Interest Payment Dates”), commencing January 15, 2019 

Record Dates: January 1 (the “Record Dates”) 

Each holder of this Note (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the Indenture described
herein, and authorizes and directs the Trustee described herein on such holder’s behalf to be bound by such provisions. Each holder of this Note hereby waives all notice of the acceptance of the provisions contained herein and in the Indenture
and waives reliance by such holder upon said provisions. 
 This Note shall not be entitled to any benefit under the Indenture, or be valid
or become obligatory for any purpose, until the Certificate of Authentication hereon shall have been manually signed by or on behalf of the Trustee. The provisions of this Note are continued on the reverse side hereof, and such continued provisions
shall for all purposes have the same effect as though fully set forth at this place. 

  
 A-2 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed in accordance with the
Indenture. 
 Date: [                ],
[                ] 
  

					
	DXC TECHNOLOGY COMPANY
		
	By:	 	 
		 	Name:	 	Paul Saleh
		 	Title:	 	Executive Vice President,
		 	Chief Financial Officer
		
	By:	 	 
		 	Name:	 	Neil A. Manna
		 	Title:	 	Principal Accounting Officer,
		 	Senior Vice President and Controller

  
 A-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the 1.750% Senior Notes due 2026 issued by DXC Technology Company of the series designated therein referred to in the
within-mentioned Indenture. 
 Date: [                 ],
[                ] 
  

					
	U.S. BANK NATIONAL ASSOCIATION
as Trustee
		
	By:	 	 
		 	Name:	 	Elizabeth A. Boyd
		 	Title:	 	Authorized Signatory

  
 A-4 

 DXC Technology Company 

1.750% Senior Notes due 2026 

This note is one of a duly authorized series of debt securities of DXC Technology Company (f.k.a. Everett SpinCo, Inc.), a Nevada corporation
(the “Company”), issued or to be issued in one or more series under and pursuant to an Indenture for the Company’s debentures, notes or other debt instruments evidencing its Indebtedness, dated as of March 27, 2017 (the
“Base Indenture”), duly executed and delivered by and between the Company and U.S. Bank National Association, as trustee (the “Trustee”), as supplemented by the Seventh Supplemental Indenture, dated as of
September 26, 2018 (the “Seventh Supplemental Indenture”), by and among the Company, the Trustee and Elavon Financial Services DAC, UK Branch, as paying agent (the “Paying Agent”). The Base Indenture as
supplemented and amended by the Seventh Supplemental Indenture is referred to herein as the “Indenture.” By the terms of the Base Indenture, the debt securities issuable thereunder are issuable in series that may vary as to amount,
date of maturity, rate of interest and in other respects as provided in the Base Indenture. This note is one of the series designated on the face hereof (individually, a “Note,” and collectively, the “Notes”), and
reference is hereby made to the Indenture for a description of the rights, limitations of rights, obligations, duties and immunities of the Trustee, the Company and the Holders of the Notes (the “Holders”). Capitalized terms used
herein and not otherwise defined shall have the meanings given them in the Base Indenture or the Seventh Supplemental Indenture, as applicable. 

1.    Interest. The rate at which the Notes shall bear interest shall be 1.750% per year. [The date from which
interest shall accrue on the Notes shall be September 26, 2018 or the most recent Interest Payment Date to which interest has been paid or provided for.]1 [Interest on this Note will accrue
(or will be deemed to have accrued) from the most recent date to which interest on this Note or any of its predecessor Notes has been paid or duly provided for or, if no such interest has been paid, from , .]2 The Interest Payment Dates for the Notes shall be January 15 of each year, beginning January 15, 2019. Interest shall be payable on each Interest Payment Date to the Holders of record at
the close of business on the January 1 prior to each Interest Payment Date. The basis upon which interest shall be calculated shall be that of ACTUAL/ACTUAL (ICMA) as defined in the rulebook of the International Capital Markets Association.

 2.    Method of Payment. The Company will pay interest on the Notes (except defaulted interest), if any, to
the persons in whose name such Notes are registered at the close of business on the regular record date referred to on the facing page of this Note for such interest installment. In the event that the Notes or a portion thereof are called for
redemption and the Redemption Date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such 
  

 

	1 	 Include for Initial Notes only. 

	2 	 Include for Additional Notes only. 

  
 A-5 

 
Notes will be paid upon presentation and surrender of such Notes as provided in the Indenture. The principal of and the interest on, and any Additional Amounts due on, the Notes shall be payable
in Euro, at the office or agency of the Paying Agent maintained for that purpose at 125 Old Broad Street, Fifth Floor, London, EC2N 1AR, United Kingdom. If Euro is unavailable to the Company due to the imposition of exchange controls or
other circumstances beyond its control or the Euro is no longer used by the then member states of the European Monetary Union that have adopted the Euro as their currency or for the settlement of transactions by public institutions of or within the
international banking community, then all payments in respect of the Notes will be made in Dollars until Euro is again available to the Company or so used. In such circumstances, the amount payable on any date in Euro will be converted into Dollars
at the rate mandated by the Board of Governors of the Federal Reserve System as of the close of business on the second Business Day prior to the relevant payment date or, if the Board of Governors of the Federal Reserve System has not announced a
rate of conversion, on the basis of the most recent Dollar/Euro exchange rate published in The Wall Street Journal on or prior to the second Business Day prior to the relevant payment date or, in the event The Wall Street Journal has not published
such exchange rate, the rate will be determined in the Company’s sole discretion on the basis of the most recently available market exchange rate for the Euro. For the avoidance of doubt, any such payment in respect of the Notes so made in
Dollars will not constitute an Event of Default. Neither the Trustee nor the Paying Agent shall have any responsibility for any calculation or conversion in connection with the foregoing. 

3.    Paying Agent and Registrar. Initially, the Paying Agent will act as paying agent and the Trustee will act as
transfer agent and Registrar. The Company may change or appoint any paying agent, transfer agent or Registrar without notice to any Holder. 

4.    Indenture. The terms of the Notes include those stated in the Indenture and those made part of the Indenture
by reference to the Trust Indenture Act of 1939 (“Trust Indenture Act”) as in effect on the date the Indenture is qualified. The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture
Act for a statement of such terms. The Notes are senior unsecured obligations of the Company and constitute the series designated on the face hereof as the “1.750% Senior Notes due 2026”, initially limited to €650,000,000 in aggregate
principal amount. The Company will furnish to any Holders upon written request and without charge a copy of the Base Indenture and the Seventh Supplemental Indenture. Requests may be made to: DXC Technology Company, 1775 Tysons Boulevard,
Tysons, Virginia 22102, Attention: General Counsel. 
 5.    Redemption. The Notes shall be redeemable as a whole
or in part, at the Company’s option, at any time or from time to time, as provided in Section 1.05 of the Seventh Supplemental Indenture. Unless the Company defaults in payment of the Redemption Price, on and after any Redemption Date for
the Notes, interest shall cease to accrue on the Notes or portions thereof called for redemption. 

  
 A-6 

 The Notes shall be redeemable in whole but not in part, at the Company’s option, at any
time if certain events occur involving U.S. taxation, as provided in Section 1.05 of the Seventh Supplemental Indenture. 

6.    Additional Amounts. The Company will pay Additional Amounts on the Notes under certain circumstances as
provided in Section 1.11 of the Seventh Supplemental Indenture. 
 7.    Mandatory Redemption or Sinking
Fund. The Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes. 

8.    Change of Control Triggering Event. If a Change of Control Triggering Event occurs with respect to the Notes,
unless the Company has redeemed such Notes as described in Section 1.05 of the Seventh Supplemental Indenture, the Company will make an offer to each Holder of such Notes to repurchase all or any part (equal to €100,000 or an integral
multiple of €1,000 in excess thereof) of that Holder’s Notes at a repurchase price, payable in cash, equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest, on the Notes repurchased to the
date of repurchase. Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control, but after public announcement of the transaction that constitutes or may constitute the Change
of Control, a notice will be sent to Holders of the Notes, with a copy to the Trustee, describing the transaction that constitutes or may constitute the Change of Control Triggering Event and offering to repurchase such Notes on the date specified
in the notice, which date will be no earlier than 10 days and no later than 90 days from the date such notice is mailed, in accordance with Section 1.06(d) of the Seventh Supplemental Indenture. 

9.    Denominations, Transfer, Exchange. The Notes are in registered form without coupons in minimum denominations
of €100,000 or an integral multiple of €1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in Section 1.04 and Section 1.08 of the Seventh Supplemental Indenture and
Section 2.08 and Section 2.09 of the Base Indenture. The Notes may be presented for exchange or for registration of transfer at the office of the Company or its agency designated by the Company for such purpose. 

10.    Persons Deemed Owners. The person in whose name this Note is registered may be treated as its owner for all
purposes. 
 11.    Repayment to the Company. The Trustee and the Paying Agent shall pay to the Company upon
request any money held by them for the payment of principal and interest that remains unclaimed for two years. After that, Holders entitled to the money must look to the Company for payment as general creditors unless an applicable abandoned
property law designates another person. 
 12.    Amendments, Supplements and Waivers. Subject to certain
exceptions, the Company and the Trustee may amend or supplement the Indenture and the Notes with the written consent (including consents obtained in connection with a tender offer or 

  
 A-7 

 
exchange offer for Notes) of the Holders of a majority in principal amount of the then outstanding Notes, and compliance with any provision of the Indenture and the Notes may be waived with the
written consent (including consents obtained in connection with a tender offer or exchange offer for Notes) of the Holders of a majority in principal amount of the then outstanding Notes. The Company and the Trustee may amend or supplement the
Indenture and the Notes without notice to or consent of any Holder as provided in the Indenture, including, without limitation, to maintain the qualification of the Indenture under the Trust Indenture Act or to cure any ambiguity, defect or
inconsistency or make any change that would not adversely affect the legal rights under the Indenture of any Holder in any material respect. 

13.    Defaults and Remedies. If an Event of Default with respect to the Notes occurs and is continuing (other than
an Event of Default in Section 1.07(a)(v) or 1.07(a)(vi) of the Seventh Supplemental Indenture), then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Notes may declare the principal
amount of and accrued and unpaid interest, if any, on all the Notes to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon such declaration such principal amount and accrued
and unpaid interest, if any, shall become immediately due and payable. If an Event of Default specified in Sections 1.07(a)(v) or 1.07(a)(vi) of the Seventh Supplemental Indenture shall occur, the principal of and accrued and unpaid interest,
if any, on all Outstanding Notes shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of Outstanding Notes. Subject to the terms of the Indenture, if an Event of
Default under the Indenture shall occur and be continuing, the Trustee will be under no obligation to exercise any of the rights or powers vested in it by the Indenture at the request or direction of any of the Holders unless such Holders shall have
offered the Trustee security or indemnity satisfactory to it. Upon satisfaction of certain conditions set forth in the Indenture, the Holders of a majority in principal amount of the Outstanding Notes shall have the right to direct the time, method
and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Notes. 

14.    Trustee May Hold Securities. The Trustee, subject to certain limitations imposed by the Trust Indenture Act,
in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not Trustee, paying agent or Registrar. 

15.    No Recourse Against Others. A director, officer, employee or stockholder (past or present), as such, of the
Company shall not have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by accepting a Note waives and releases
all such liability. The waiver and release are part of the consideration for the issue of the Notes. 

  
 A-8 

 16.    Discharge of Indenture. The Indenture contains certain
provisions pertaining to discharge and defeasance, which provisions shall for all purposes have the same effect as if set forth herein. 

17.    Authentication. This Note shall not be valid until the Trustee manually signs the certificate of
authentication attached to the other side of this Note. 
 18.    Trust Indenture Act Controls. This Indenture
incorporates and is governed by the provisions of the Trust Indenture Act that are required to be part of and to govern indentures qualified under the Trust Indenture Act. If any provision of this Indenture limits, qualifies or conflicts with the
duties imposed by the Trust Indenture Act, the imposed duties shall control. 
 19.    Abbreviations. Customary
abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST
(= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 20.    Governing Law. THE INDENTURE AND
THIS NOTE, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR THIS NOTE, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY
LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. 

  
 A-9 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to: 

 

	
	
	   

	(Insert assignee’s legal name

  
       

 
 (Insert assignee’s soc. Sec. or
tax I.D. no.) 
  
       

 
  

      

 
  

      

 
  

      

 
 (Print or type assignee’s name,
address and zip code) 
 and irrevocably appoint ____________________________________________________________agent to transfer this Note on the books of the
Company. The agent may substitute another to act for him. 
  

			
	Date:	 	 

  

			
	 Your
 Signature:
	 	 
	(Sign exactly as your name appears on the face of this Note)

  

			
		
	 Signature
 Guarantee:
	 	 
	(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee))

  
 A-10 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 1.06(d) of the Seventh Supplemental Indenture, check
the box: 
  

	 	☐	 1.06(d) Change of Control Triggering Event 

If you want to elect to have only part of this Note purchased by the Company pursuant to Section 1.06(d) of the Seventh Supplemental
Indenture, state the amount: €[                ]. 
  

			
	Date:	 	 

  

			
	 Your
 Signature:
	 	 
	(Sign exactly as your name appears on the other side of this Note)

  

			
	Tax I.D. Number	 	 

  

			
		
	 Signature
 Guarantee:
	 	 
	(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee))

  
 A-11 

 SCHEDULE OF EXCHANGES OF INTEREST IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Security, or exchanges of a
part of another Global Note or Definitive Security for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	 	 Amount of decrease in
Principal
Amount of this
Global Note
	 	 Amount of increase in
Principal
Amount of this
Global Note
	  	 Principal Amount of this
Global Note
following
such decrease (or
increase)
	  	 Signature of authorized
officer of
Trustee or
custodian

		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	

  
 A-12American Lorain Corporation: Exhibit 10.1 - Filed by newsfilecorp.com

	 
	SHARE EXCHANGE AGREEMENT 
	 
	by and among 
	 
	AMERICAN LORAIN CORPORATION, 
	as the Parent, 
	 
	SHANGHAI XUNYANG INTERNET TECH CO. LTD. 
	as the Purchaser, 
	 
	TAISHAN MUREN AGRICULTURE CO. LTD., 
	as the Company 
	 
	and 
	 
	SHENZHEN JIAMINGRUI NEW AGRICULTURE CO., LTD.,
  
	as the Seller 
	 
	  
	Dated as of September 25, 2018 
	 

TABLE OF CONTENTS

	  	  	Page 
	  	  	  
	I.
      THE SHARE EXCHANGE 	1
      
	1.1.
      	Purchase
      and Sale of Shares 	1
      
	1.2.
      	Consideration
      	1
      
	1.3.
      	Company
      Shareholder Consent 	2
      
	  	  	  
	III.
      CLOSING 	2
      
	2.1.
      	Closing
      	2
      
	  	  	  
	IV.
      REPRESENTATIONS AND WARRANTIES OF THE PURCHASER 	2
      
	3.1.
      	Due
      Organization and Good Standing 	2
      
	3.2.
      	Authorization;
      Binding Agreement 	2
      
	3.3.
      	Governmental
      Approvals 	3
      
	3.4.
      	Non-Contravention
      	3
      
	3.5.
      	Capitalization
      	3
      
	3.6.
      	SEC
      Filings and Purchaser Financials 	4
      
	3.7.
      	Absence
      of Certain Changes 	5
      
	3.9.
      	Actions;
      Orders; Permits 	5
      
	3.12.
      	Independent
      Investigatopm 	5
      
		  	  
	V.
      REPRESENTATIONS AND WARRANTIES OF THE COMPANY 	6
      
	4.1.
      	Due
      Organization and Good Standing 	6
      
	4.2.
      	Authorization;
      Binding Agreement 	6
      
	4.3.
      	Capitalization
      	7
      
	4.4.
      	Subsidiaries
      	8
      
	4.5.
      	Governmental
      Approvals 	8
      
	4.6.
      	Non-Contravention
      	8
      
	4.7.
      	Financial
      Statements 	9
      
	4.8.
      	Absence
      of Certain Changes 	10
      
	4.9.
      	Compliance
      with Laws 	10
      
	4.10.
      	Company
      Permits 	10
      
	4.11.
      	Litigation
      	10
      
	4.12.
      	Material
      Contracts 	10
      
	4.13.
      	Intellectual
      Property 	12
      
	4.14.
      	Taxes
      and Returns 	14
      
	4.15.
      	Real
      Property 	15
      
	4.16.
      	Personal
      Property 	15
      
	4.17.
      	Title
      to and Sufficiency of Assets 	16
      
	4.18.
      	Employee
      Matters 	16
      
	4.19.
      	Benefit
      Plans 	17
      
	4.20.
      	Environmental
      Matters 	18
      
	4.21.
      	Transactions
      with Related Persons 	19
      
	4.22.
      	Insurance
      	19
      
	4.23.
      	Top
      Customers and Suppliers 	20
      
	4.24.
      	Books
      and Records 	20
      
	4.25.
      	Accounts
      Receivable 	20
      
	4.26.
      	Certain
      Business Practices 	20
      
	4.27.
      	Investment
      Company Act 	21
      
	4.28.
      	Finders
      and Investment Bankers 	21
      
	4.29.
      	Independent
      Investigation 	21
      
	4.30.
      	Information
      Supplied 	21
      

i 

	4.31. 	Disclosure 	22
  
	  	  	  
	VI.
      REPRESENTATIONS AND WARRANTIES OF THE SELLER 	22
  
	5.1. 	Due Organization and Good
      Standing 	22 
	5.2. 	Authorization; Binding Agreement 	22
  
	5.3. 	Ownership 	22
	5.4. 	Governmental Approvals 	22
  
	5.5. 	Non Convention 	22 
	5.6. 	No
      Litigation 	23
  
	5.7. 	Investment Representations
      	23 
	5.8. 	Finders and
      Investment Bankers 	24
  
	5.9. 	Independent Investigation
      	24 
	5.10. 	Information
      Supplied 	24
  
	5.11. 	Disclosure 	24 
	  	  	  
	VII. COVENANTS 	24 
	6.1. 	Access and
      Information 	24
  
	6.2. 	Conduct of Business of the
      Company 	25 
	6.3. 	Conduct of
      Business of the Parent 	28
  
	6.4. 	Annual and Interim Financial
      Statements 	30 
	6.5. 	Purchaser
      Public Filings 	30
  
	6.6. 	No Solicitation 	30 
	6.7. 	No Trading
      	30
  
	6.8. 	Notification of Certain
      Matters 	31 
	6.9. 	Efforts
    	31
  
	6.10. 	Further Assurances 	32 
	6.12. 	Public
      Announcements 	32
  
	6.13. 	Confidential Information
    	32 
	6.14. 	Litigation
      Support 	33
  
	6.15. 	Documents and Information
      	33
	6.17. 	Supplemental
      Disclosure Schedules 	33
  
	6.18. 	Parent Policies 	34 
	6.19. 	SOX 404(b)
      Compliance 	34
  
	  	  	  
	VIII.
      SURVIVAL AND INDEMNIFICATION 	34
  
	7.1. 	Survival 	34 
	7.2. 	Idemnification by the Seller 	35
  
	7.3. 	General Indemnification
      Provisions 	36 
	7.4. 	Indemification Procedures 	36 
	  	  	  
	IX. CLOSING
      CONDITIONS 	37
  
	8.1. 	Conditions to Each Party’s
      Obligations 	37 
	8.2. 	Conditions
      to Obligations of the Company and the Seller 	38
  
	8.3. 	Conditions to Obligations of
      the Purchaser and the Parent 	39 
	8.4. 	Frustration
      of Conditions 	40
  
	  	  	  
	X. TERMINATION
      AND EXPENSES 	40
  
	9.1. 	Termination 	40 
	9.2. 	Effect of
      Termination 	41
  
	9.3. 	Fees and Expenses 	41 
	9.4. 	Termination
      Fee 	42
  

ii 

	XI. WAIVERS
      AND RELEASES 	42
  
	10.1. 	Release and Covenant Not to
      Sue 	42 
	  	  	  
	XII. MISCELLANEOUS 	42 
	11.1.
    	Notices
    	42
  
	11.2. 	Binding Effect; Assignment
      	43 
	11.3.
    	Third
      Parties 	44
  
	11.4. 	Arbitration 	44 
	11.5.
    	Governing
      Law; Jurisdiction 	44
  
	11.6. 	WAIVER OF JURY TRIAL
	45 
	11.7.
    	Specific
      Performance 	45
  
	11.8. 	Severability 	45 
	11.9.
    	Amendment
      	45
  
	11.10. 	Waiver 	45 
	11.11.
    	Entire
      Agreement 	46
  
	11.12.  	Interpretation	46 
	11.13.  	Counterparts	47
  
	  	  	  
	XIII.
      DEFINITIONS 	47
  
	12.1. 	Certain Definitions 	47 
	12.2.
    	Section
      References 	53
  

INDEX OF EXHIBITS 

	Exhibit 	Description 
	 	 
	Exhibit A 	Form of Non-Competition
      Agreement 
	Exhibit B 	Form of
      Lock-Up Agreement 

iii 

SHARE EXCHANGE AGREEMENT

 This
Share Exchange Agreement (this “Agreement”) is made and entered
into as of September 25, 2018 by and among (i) American Lorain
Corporation, a corporation incorporated in the State of Nevada (the
“Parent”), (ii) Shanghai Xunyang Internet Technology Co.,
Ltd. (the “Purchaser”), a limited liability company registered
in the People’s Republic of China, (iii) Taishan Muren Agriculture Co.
Ltd., a limited liability company registered in the People’s Republic of
China (the “Company”) and (iv) Shenzhen Jiamingrui New
Agriculture Co., Ltd., a limited liability company registered in the
People’s Republic of China (the “Seller”). The Parent, the
Purchaser, the Company and the Seller are sometimes referred to herein
individually as a “Party” and, collectively, as the
“Parties”. Capitalized terms, unless otherwise defined, shall have
the meanings ascribed to such terms in Article XII hereof.

RECITALS: 

WHEREAS, the Seller owns 100% of the issued and outstanding shares and
other equity interests in or of the Company; 

 WHEREAS, the Company is a company registered as a limited liability
company in Taishan City, Guangdong Province, China; 

 WHEREAS, the Company grows various spice plants and fruit trees and sells
such products in China; 

 WHEREAS, the Purchaser is a 100% owned subsidiary of Jianshi Technology
Holding Limited, which is a 100% owned subsidiary of Planet Green Holding Corp.,
which is a 100% owned subsidiary of Parent; and 

 WHEREAS, the Seller desires to sell to the Purchaser, and the Purchaser
desires to purchase from the Seller, all of the issued and outstanding shares
and any other equity interests in or of the Company in exchange for newly issued
Parent Shares, subject to the terms and conditions set forth herein. 

 NOW,
THEREFORE, in consideration of the premises set forth above, which are
incorporated in this Agreement as if fully set forth below, and the
representations, warranties, covenants and agreements contained in this
Agreement, and intending to be legally bound hereby, the Parties agree as
follows: 

ARTICLE I 
THE SHARE EXCHANGE

 1.1      Purchase and Sale of Shares. At the
Closing and subject to and upon the terms and conditions of this Agreement, the
Seller shall sell, transfer, convey, assign and deliver to the Purchaser, and
the Purchaser shall purchase, acquire and accept from the Seller, all of the
issued and outstanding shares (being 1,000,000 shares of 1.00 RMB par value
each) of the Company (collectively, the “Purchased Shares”), free
and clear of all Liens (other than potential restrictions on resale under
applicable securities Laws). 

 1.2      Consideration. At the Closing and
subject to and upon the terms and conditions of this Agreement, in full payment
for the Purchased Shares, the Parent shall issue and deliver to the Seller
10,000,000 Parent Shares (the “Exchange Shares”).

1 

 1.3      Company Shareholder Consent. Seller, as
the sole shareholder of the Company, hereby approves, authorizes and consents to
the Company’s execution and delivery of this Agreement and the Ancillary
Documents to which it is or is required to be a party or otherwise bound, the
performance by the Company of its obligations hereunder and thereunder and the
consummation by the Company of the transactions contemplated hereby and thereby.
Seller acknowledges and agrees that the consents set forth herein are intended
and shall constitute such consent of the Seller as may be required (and shall,
if applicable, operate as a written shareholder resolution of the Company)
pursuant to the Company Charter, any other agreement in respect of the Company
to which Seller is a party and all applicable Laws. 

ARTICLE II 
CLOSING 

 2.1      Closing. Subject to the satisfaction or
waiver of the conditions set forth in Article VIII, the consummation of
the transactions contemplated by this Agreement (the “Closing”)
shall take place at the offices of the Parent, on the third (3rd)
Business Day after all the closing conditions to this Agreement have been
satisfied or waived at 10:00 a.m. local time, or at such other date, time or
place as the Purchaser and the Company may agree (the date and time at which the
Closing is actually held being the “Closing Date”). 

ARTICLE III 
REPRESENTATIONS AND WARRANTIES OF
THE PURCHASER AND THE PARENT 

 Each of
the Purchaser and, where specified, the Parent, represents and warrants to the
Company, as follows: 

 3.1      Due Organization and Good
Standing. The Purchaser is a corporation duly incorporated, validly existing
and in good standing under the Laws of China. The Parent is a corporation duly
incorporated, validly existing and in good standing under the Laws of the State
of Nevada. Each of the Purchaser and the Parent has all requisite corporate
power and authority to own, lease and operate its properties and to carry on its
business as now being conducted. Each of the Purchaser and the Parent is duly
qualified or licensed and in good standing to conduct business in each
jurisdiction in which the character of the property owned, leased or operated by
it or the nature of the business conducted by it makes such qualification or
licensing necessary, except for any deviations from any of the foregoing that
would not reasonably be expected to have a Material Adverse Effect on the
Purchaser or the Parent. Each of the Purchaser and the Parent has heretofore
made available to the Company accurate and complete copies of the Organizational
Documents of the Purchaser and the Parent, respectively, as currently in
effect.

 3.2      Authorization; Binding
Agreement. Each of the Purchaser and the Parent has all requisite corporate
power and authority to execute and deliver this Agreement and each Ancillary
Document to which it is a party, to perform the Purchaser’s and the Parent’s,
respectively, obligations hereunder and thereunder and to consummate the
transactions contemplated hereby and thereby. The execution and delivery of this
Agreement and each Ancillary Document to which it is a party and the
consummation of the transactions contemplated hereby and thereby (a) have been
duly and validly authorized by the board of directors of the Purchaser and the
Parent, respectively, and (b) no other corporate proceedings, other than as set
forth elsewhere in the Agreement, on the part of the Purchaser or the Parent,
respectively, are necessary to authorize the execution and delivery of this
Agreement and each Ancillary Document to which it is a party or to consummate
the transactions contemplated hereby and thereby. This Agreement has been, and
each Ancillary Document to which the Purchaser or the Parent is a party shall be
when delivered, duly and validly executed and delivered by the Purchaser or the
Parent, respectively, and, assuming the due authorization, execution and
delivery of this Agreement and such Ancillary Documents by the other parties hereto and thereto, constitutes, or when
delivered shall constitute, the valid and binding obligation of the Purchaser
and the Parent, respectively, enforceable against the Purchaser or the Parent,
respectively, in accordance with its terms, except to the extent that
enforceability thereof may be limited by applicable bankruptcy, insolvency,
reorganization and moratorium laws and other laws of general application
affecting the enforcement of creditors’ rights generally or by any applicable
statute of limitation or by any valid defense of set-off or counterclaim, and
the fact that equitable remedies or relief (including the remedy of specific
performance) are subject to the discretion of the court from which such relief
may be sought (collectively, the “Enforceability Exceptions”). 

2 

 3.3      Governmental Approvals. No
  Consent of or with any Governmental Authority, on the part of the Purchaser or
  the Parent is required to be obtained or made in connection with the execution,
  delivery or performance by the Purchaser or the Parent of this Agreement and
  each Ancillary Document to which it is a party or the consummation by the
  Purchaser or the Parent of the transactions contemplated hereby and thereby,
  other than (a) such filings as may be required in any jurisdiction where the
  Purchaser or the Parent is qualified or authorized to conduct business as a
  foreign corporation in order to maintain such qualification or authorization,
  (b) such filings as contemplated by this Agreement, (c) any filings required
  with NYSE with respect to the transactions contemplated by this Agreement, (d)
  applicable requirements, if any, of the Securities Act, the Exchange Act, and/
  or any state “blue sky” securities Laws, and the rules and regulations
  thereunder, and (e) where the failure to obtain or make such Consents or to make
  such filings or notifications, would not reasonably be expected to have a
Material Adverse Effect on the Purchaser. 

 3.4      Non-Contravention. The execution
and delivery by the Purchaser or the Parent of this Agreement and each Ancillary
Document to which it is a party, the consummation by the Purchaser or the Parent
of the transactions contemplated hereby and thereby, and compliance by the
Purchaser or the Parent with any of the provisions hereof and thereof, will not
(a) conflict with or violate any provision of the Purchaser’s or the Parent’s,
respectively, Organizational Documents, (b) subject to obtaining the Consents
from Governmental Authorities referred to in Section 3.3 hereof, and any
condition precedent to such Consent or waiver having been satisfied, conflict
with or violate any Law, Order or Consent applicable to the Purchaser or the
Parent, or any of their properties or assets, or (c) (i) violate, conflict with
or result in a breach of, (ii) constitute a default (or an event which, with
notice or lapse of time or both, would constitute a default) under, (iii) result
in the termination, withdrawal, suspension, cancellation or modification of,
(iv) accelerate the performance required by the Purchaser or the Parent under,
(v) result in a right of termination or acceleration under, (vi) give rise to
any obligation to make payments or provide compensation under, (vii) result in
the creation of any Lien upon any of the properties or assets of the Purchaser
or the Parent under, (viii) give rise to any obligation to obtain any third
party consent or provide any notice to any Person or (ix) give any Person the
right to declare a default, exercise any remedy, claim a rebate, chargeback,
penalty or change in delivery schedule, accelerate the maturity or performance,
cancel, terminate or modify any right, benefit, obligation or other term under,
any of the terms, conditions or provisions of, any Parent Material Contract,
respectively, except for any deviations from any of the foregoing clauses (b) or
(c) that would not reasonably be expected to have a Material Adverse Effect on
the Purchaser. 

 3.5      Capitalization. 

 
(a)      The Parent is authorized to issue (i)
200,000,000 Parent Shares and (ii) 5,000,000 preferred shares, par value $0.001
per share. All outstanding Parent Shares are duly authorized, validly issued,
fully paid and non-assessable and not subject to or issued in violation of any
purchase option, right of first refusal, preemptive right, subscription right or
any similar right under any provision of the NRS, the Parent Charter or any
Contract to which the Parent is a party. None of the outstanding Parent Shares
has been issued in violation of any applicable securities Laws. 

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(b)      Prior to giving effect to the transactions
contemplated by this Agreement, except as set forth in the SEC Reports, the
Parent does not have any Subsidiaries or own any equity interests in any other
Person. 

(c)      Except as set forth in the SEC Reports, there
are no (i) outstanding options, warrants, puts, calls, convertible securities,
preemptive or similar rights, (ii) bonds, debentures, notes or other
Indebtedness having general voting rights or that are convertible or
exchangeable into securities having such rights or (iii) subscriptions or other
rights, agreements, arrangements, Contracts or commitments of any character (A)
relating to the issued or unissued shares of the Parent, or (B) obligating the
Parent to issue, transfer, deliver or sell or cause to be issued, transferred,
delivered, sold or repurchased any options or shares or securities convertible
into or exchangeable for such shares, or (C) obligating the Parent to grant,
extend or enter into any such option, warrant, call, subscription or other
right, agreement, arrangement or commitment for such capital shares. Other than
as expressly set forth in this Agreement, there are no outstanding obligations
of the Parent to repurchase, redeem or otherwise acquire any shares of the
Parent or to provide funds to make any investment (in the form of a loan,
capital contribution or otherwise) in any Person. Except as set forth in the SEC
Reports, there are no shareholders agreements, voting trusts or other agreements
or understandings to which the Parent is a party with respect to the voting of
any shares of the Parent. 

(d)      [Intentionally Omitted.]

(e)      Since January 1, 2017, and except as
contemplated by this Agreement or disclosed in the SEC Reports, the Parent has
not declared or paid any distribution or dividend in respect of its shares and
has not repurchased, redeemed or otherwise acquired any of its shares, and the
Parent’s board of directors has not authorized any of the foregoing.

 3.6      SEC Filings and Parent Financials. 

(a)      The Parent, since January 1, 2017, has filed
all forms, reports, schedules, statements, registrations statements,
prospectuses and other documents required to be filed or furnished by the Parent
with the SEC under the Securities Act and/or the Exchange Act, together with any
amendments, restatements or supplements thereto. Except to the extent available
on the SEC’s web site through EDGAR, the Parent has delivered to the Company
copies in the form filed with the SEC of all of the following: (i) the Parent’s
Annual Reports on Form 10-K for each fiscal year of the Parent beginning with
the year ended December 31, 2017, (ii) the Parent’s Quarterly Reports on Form
10-Q for each fiscal quarter that the Parent filed such reports to disclose its
quarterly financial results in each of the fiscal years of the Parent referred
to in clause (i) above, (iii) all other forms, reports, registration statements,
prospectuses and other documents (other than preliminary materials) filed by the
Parent with the SEC since the beginning of the first fiscal year referred to in
clause (i) above (the forms, reports, registration statements, prospectuses and
other documents referred to in clauses (i), (ii) and (iii) above, whether or not
available through EDGAR, are, collectively, the “SEC Reports”) and
(iv) all certifications and statements required by (A) Rules 13a-14 or 15d-14
under the Exchange Act, and (B) 18 U.S.C. §1350 (Section 906 of SOX) with
respect to any report referred to in clause (i) above (collectively, the
“Public Certifications”). The SEC Reports (y) were prepared in all
material respects in accordance with the requirements of the Securities Act and
the Exchange Act, as the case may be, and the rules and regulations thereunder
and (z) did not, as of their respective effective dates (in the case of SEC
Reports that are registration statements filed pursuant to the requirements of
the Securities Act) and at the time they were filed with the SEC (in the case of
all other SEC Reports) 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 made therein, in the light of the circumstances under which
they were made, not misleading. The Public Certifications are each true as of
their respective dates of filing. As used in this Section 3.6, the term
“file” shall be broadly construed to include any manner permitted by SEC rules and regulations in
which a document or information is furnished, supplied or otherwise made
available to the SEC. As of the date of this Agreement, (A) the Parent Shares
are listed on NYSE, (B) the Parent has not received any written deficiency
notice from NYSE relating to the continued listing requirements of the Parent
Shares, (C) there are no Actions pending or, to the Knowledge of the Parent,
threatened against the Parent with respect to any intention by such entity to
suspend, prohibit or terminate the quoting of the Parent Shares on NYSE and (D)
the Parent Shares are in compliance with all of the applicable listing and
corporate governance rules of NYSE.  

4 

(b)      The financial statements and notes contained
  or incorporated by reference in the SEC Reports (the “Parent
    Financials”), fairly present in all material respects the financial
  position and the results of operations, changes in shareholders’ equity, and
  cash flows of the Parent at the respective dates of and for the periods referred
  to in such financial statements, all in accordance with (i) GAAP methodologies
  applied on a consistent basis throughout the periods involved and (ii)
  Regulation S-X or Regulation S-K, as applicable (except as may be indicated in
  the notes thereto and for the omission of notes and audit adjustments in the
  case of unaudited quarterly financial statements to the extent permitted by
Regulation S-X or Regulation S-K, as applicable). 

(c)      Except as and to the extent reflected or
reserved against in the Parent Financials, the Parent has not incurred any
Liabilities or obligations of the type required to be reflected on a balance
sheet in accordance with GAAP that is not adequately reflected or reserved on or
provided for in the Parent Financials, other than Liabilities of the type
required to be reflected on a balance sheet in accordance with GAAP that have
been incurred since January 1, 2017 in the ordinary course of business. 

 3.7      Absence of Certain Changes. As of the
date of this Agreement, the Parent has, since June 30, 2018, not received a
notice of a Material Adverse Effect.

 3.8      Actions; Orders; Permits. There is no
pending or, to the Knowledge of the Parent, threatened Action to which the
Parent is subject which would reasonably be expected to have a Material Adverse
Effect on the Parent. There is no material Action that the Parent has pending
against any other Person. The Parent is not subject to any material Orders of
any Governmental Authority, nor are any such Orders pending. The Parent holds
all Permits necessary to lawfully conduct its business as presently conducted,
and to own, lease and operate its assets and properties, all of which are in
full force and effect, except where the failure to hold such Permit or for such
Permit to be in full force and effect would not reasonably be expected to have a
Material Adverse Effect on the Parent. 

 3.9      Investment Company Act. The Parent is
not an “investment company” or a Person directly or indirectly “controlled” by
or acting on behalf of an “investment company”, in each case within the meaning
of the Investment Company Act of 1940, as amended. 

 3.10      Finders and Brokers. No broker, finder
or investment banker is entitled to any brokerage, finder’s or other fee or
commission from the Parent, the Target Companies or any of their respective
Affiliates in connection with the transactions contemplated hereby based upon
arrangements made by or on behalf of the Parent. 

 3.11      Ownership of Exchange Shares. All
Exchange Shares issued and delivered in accordance with Article I to the
Seller shall be, upon issuance and delivery of such Exchange Shares, fully paid
and non-assessable, free and clear of all Liens, other than restrictions arising
from applicable securities Laws, the Lock-Up Agreement, and any Liens incurred
by Seller, and the issuance and sale of such Exchange Shares pursuant hereto
will not be subject to or give rise to any preemptive rights or rights of first
refusal. 

5 

 3.12      Independent Investigation. The Parent
has conducted its own independent investigation, review and analysis of the
business, results of operations, prospects, condition (financial or otherwise)
or assets of the Target Companies, and acknowledge that it has been provided
adequate access to the personnel, properties, assets, premises, books and
records, and other documents and data of the Target Companies for such purpose.
The Parent acknowledges and agrees that: (a) in making its decision to enter
into this Agreement and to consummate the transactions contemplated hereby, it
has relied solely upon its own investigation and the express representations and
warranties of the Company and the Seller set forth in Article IV and
Article V (including the related portions of the Company Disclosure
Schedules and any Supplemental Disclosure Schedules provided by the Company or
the Seller); and (b) none of the Company, the Seller or their respective
Representatives have made any representation or warranty as to the Target
Companies, the Seller or this Agreement, except as expressly set forth in
Article IV and Article V (including the related portions of
the Company Disclosure Schedules and Supplemental Disclosure Schedules provided
by the Company or the Seller). 

ARTICLE IV 
JOINT REPRESENTATIONS AND WARRANTIES
OF THE COMPANY AND THE SELLER 

 Except
as set forth in the disclosure schedules delivered by the Company to the
Purchaser and the Parent on the date hereof (the “Company Disclosure
Schedules”), the Section numbers of which are numbered to correspond to
the Section numbers of this Agreement to which they refer, each of the Company
and the Seller hereby, jointly and severally, represents and warrants to the
Purchaser and the Parent as follows: 

 4.1      Due Organization and Good Standing. The
Company is a business company duly organized, validly existing and in good
standing under the Laws of China and has all requisite power and authority to
own, lease and operate its properties and to carry on its business as now being
conducted. Each Subsidiary of the Company is a corporation or other entity duly
formed, validly existing and in good standing under the Laws of its jurisdiction
of organization and has all requisite corporate power and authority to own,
lease and operate its properties and to carry on its business as now being
conducted. Each Target Company is duly qualified or licensed and in good
standing in the jurisdiction in which it is incorporated or registered and in
each other jurisdiction where it does business or operates to the extent that
the character of the property owned, or leased or operated by it or the nature
of the business conducted by it makes such qualification or licensing necessary.
Schedule 4.1 lists all jurisdictions in which any Target Company is
qualified to conduct business and all names other than its legal name under
which any Target Company does business. The Company has provided to the
Purchaser and the Parent accurate and complete copies of its Organizational
Documents and the Organizational Documents of each of its Subsidiaries, each as
amended to date and as currently in effect. No Target Company is in violation of
any provision of its Organizational Documents. 

 4.2      Authorization; Binding Agreement. The
Company has all requisite corporate power and authority to execute and deliver
this Agreement and each Ancillary Document to which it is or is required to be a
party, to perform the Company’s obligations hereunder and thereunder and to
consummate the transactions contemplated hereby and thereby. The execution and
delivery of this Agreement and each Ancillary Document to which the Company is
or is required to be a party and the consummation of the transactions
contemplated hereby and thereby, (a) have been duly and validly authorized by
the Company’s board of directors and the Company’s shareholders to the extent
required by the Company’s Organizational Documents, any other applicable Law or
any Contract to which the Company or any of its shareholders is a party or by
which it or its securities are bound and (b) no other proceedings on the part of
the Company are necessary to authorize the execution and delivery of this
Agreement and each Ancillary Document to which it is a party or to consummate
the transactions contemplated hereby and thereby. This Agreement has been, and
each Ancillary Document to which the Company is or is required to be a party shall be when delivered, duly and validly
executed and delivered by the Company and assuming the due authorization,
execution and delivery of this Agreement and any such Ancillary Document by the
other parties hereto and thereto, constitutes, or when delivered shall
constitute, the legal, valid and binding obligation of the Company, enforceable
against the Company in accordance with its terms, subject to the Enforceability
Exceptions. 

6 

 4.3      Capitalization. 

(a)      The Company is authorized to issue 1,000,000
Company Ordinary Shares, 1,000,000 of which shares are issued and outstanding.
Prior to giving effect to the transactions contemplated by this Agreement, the
Seller is the legal (registered) and beneficial owner of all of the issued and
outstanding shares and other equity interests in or of the Company, all of which
shares and other equity interests are owned free and clear of any Liens. The
Purchased Shares to be delivered by the Seller to the Purchaser at the Closing
constitute all of the issued and outstanding shares and other equity interests
in or of the Company. All of the outstanding shares and other equity interests
in or of the Company have been duly authorized, are fully paid and
non-assessable and not in violation of any purchase option, right of first
refusal, preemptive right, subscription right or any similar right under any
provision of any applicable Law, the Company Charter or any Contract to which
the Company is a party or by which it or its securities are bound. The Company
holds no shares or other equity interests in or of the Company in its treasury.
None of the outstanding shares or other equity interests in or of the Company
were issued in violation of any applicable securities Laws.

(b)      There are no options, warrants or other rights
to subscribe for or purchase any shares or other equity interests in or of the
Company or securities convertible into or exchangeable for, or that otherwise
confer on the holder any right to acquire any shares or other equity interests
in or of the Company, or preemptive rights or rights of first refusal or first
offer, nor are there any Contracts, commitments, arrangements or restrictions to
which the Company or any of its shareholders is a party or bound relating to any
equity securities of the Company, whether or not outstanding. There are no
outstanding or authorized equity appreciation, phantom equity or similar rights
with respect to the Company. There are no voting trusts, proxies, shareholder
agreements or any other agreements or understandings with respect to the voting
of the Company’s shares or other equity interests. There are no outstanding
contractual obligations of the Company to repurchase, redeem or otherwise
acquire any shares or other equity interests or securities in or of the Company,
nor has the Company granted any registration rights to any Person with respect
to the Company’s equity securities. All of the Company’s securities have been
granted, offered, sold and issued in compliance with all applicable securities
Laws. As a result of the consummation of the transactions contemplated by this
Agreement, no shares or other equity interests in or of the Company are issuable
and no rights in connection with any interests, warrants, rights, options or
other securities of the Company accelerate or otherwise become triggered
(whether as to vesting, exercisability, convertibility or otherwise).

(c)      Since January 1, 2017, the Company has not
declared or paid any distribution or dividend in respect of its shares or other
equity interests and has not repurchased, redeemed or otherwise acquired any
shares or other equity interests in or of the Company, and the board of
directors of the Company has not authorized any of the foregoing. 

 4.4      Subsidiaries. 

(a)      Schedule 4.4(a) sets forth the name of
each Subsidiary of the Company, and with respect to each Subsidiary (a) its
jurisdiction of organization, (b) its authorized shares or other equity
interests (if applicable), (c) the number of issued and outstanding shares or
other equity interests and the record holders and beneficial owners thereof and
(d) its Tax election to be treated as a corporate or a disregarded entity under the Code and any state or applicable
non-U.S. Tax laws, if any. All of the outstanding equity securities of each
Subsidiary of the Company are duly authorized and validly issued, fully paid and
non-assessable (if applicable), and were offered, sold and delivered in
compliance with all applicable securities Laws, and owned by the Company or one
of its Subsidiaries free and clear of all Liens (other than those, if any,
imposed by such Subsidiary’s Organizational Documents). There are no Contracts
to which the Company or any of its Affiliates is a party or bound with respect
to the voting (including voting trusts or proxies) of the shares or other equity
interests of any Subsidiary of the Company other than the Organizational
Documents of any such Subsidiary. There are no outstanding or authorized
options, warrants, rights, agreements, subscriptions, convertible securities or
commitments to which any Subsidiary of the Company is a party or which are
binding upon any Subsidiary of the Company providing for the issuance or
redemption of any shares or other equity interests in or of any Subsidiary of
the Company. There are no outstanding equity appreciation, phantom equity,
profit participation or similar rights granted by any Subsidiary of the Company.
No Subsidiary of the Company has any limitation on its ability to make any
distributions or dividends to its equity holders, whether by Contract, Order or
applicable Law. Except for the equity interests of the Subsidiaries listed on Schedule 4.4(a), the Company does not own or have any rights to
acquire, directly or indirectly, any shares or other equity interests of any
Person. None of the Company or its Subsidiaries is a participant in any joint
venture, partnership or similar arrangement. There are no outstanding material
contractual obligations of the Company or its Subsidiaries to provide funds to,
or make any investment (in the form of a loan, capital contribution or
otherwise) in, any other Person (other than loans to customers in the ordinary
course of business).

7 

(b)      Seller is the legal and beneficial owner of
  one hundred percent (100%) of the issued and outstanding equity interests of the
  Company. There are no outstanding options, warrants, rights (including
  conversion rights, preemptive rights, rights of first refusal or similar rights)
  or agreements to purchase or acquire any equity interest, or any securities
  convertible into or exchangeable for an equity interest, of the Company. The
  Company operates its business and sells spice plant and fruit tree products in
Taishan, China.

 4.5      Governmental Approvals. No Consent of
or with any Governmental Authority on the part of any Target Company is required
to be obtained or made in connection with the execution, delivery or performance
by the Company of this Agreement or any Ancillary Documents to which it is a
party or the consummation by the Company of the transactions contemplated hereby
or thereby other than such filings as contemplated by this Agreement. 

 4.6      Non-Contravention. The execution and
delivery by the Company (or any other Target Company, as applicable) of this
Agreement and each Ancillary Document to which any Target Company is a party or
otherwise bound, and the consummation by any Target Company of the transactions
contemplated hereby and thereby and compliance by any Target Company with any of
the provisions hereof and thereof, will not (a) conflict with or violate any
provision of any Target Company’s Organizational Documents, (b) subject to
obtaining the Consents from Governmental Authorities referred to in Section
4.5 hereof, and any condition precedent to such Consent or waiver having
been satisfied, conflict with or violate any Law, Order or Consent applicable to
any Target Company or any of their properties or assets, or (c) (i) violate,
conflict with or result in a breach of, (ii) constitute a default (or an event
which, with notice or lapse of time or both, would constitute a default) under,
(iii) result in the termination, withdrawal, suspension, cancellation or
modification of, (iv) accelerate the performance required by any Target Company
under, (v) result in a right of termination or acceleration under, (vi) give
rise to any obligation to make payments or provide compensation under, (vii)
result in the creation of any Lien upon any of the properties or assets of any
Target Company under, (viii) give rise to any obligation to obtain any third
party consent or provide any notice to any Person or (ix) give any Person the
right to declare a default, exercise any remedy, claim a rebate, chargeback,
penalty or change in delivery schedule, accelerate the maturity or performance, cancel,
terminate or modify any right, benefit, obligation or other term under, any of
the terms, conditions or provisions of, any Company Material Contract, except
for any deviations from any of the foregoing clauses (b) or (c) that would not
reasonably be expected to have a Material Adverse Effect on the Company. 

8 

 4.7      Financial Statements. 

(a)      As used herein, the term
“Company Financials” means the (i) audited
consolidated financial statements of the Target Companies (including, in each
case, any related notes thereto), consisting of the consolidated balance sheet
of the Target Companies as of December 31, 2017, and the related consolidated
audited income statement, changes in shareholder equity and statement of cash
flows for the years then ended and (ii) the unaudited financial statements,
consisting of the consolidated balance sheet of the Target Companies as of June
30, 2018 (the “Interim Balance Sheet Date”) and the related
consolidated income statement, changes in shareholder equity and statement of
cash flows for the three (3) months then ended. The Company Financials (i)
accurately reflect the books and records of the Target Companies as of the times
and for the periods referred to therein, (ii) were prepared in accordance with
GAAP, consistently applied throughout and among the periods involved (except
that the unaudited statements exclude the footnote disclosures and other
presentation items required for GAAP and exclude year-end adjustments which will
not be material in amount), and (iii) fairly present in all material respects
the financial position of the Target Companies as of the respective dates
thereof and the results of the operations and cash flows of the Target Companies
for the periods indicated. 

(b)      Each Target Company maintains accurate books
and records reflecting its assets and Liabilities and maintains proper and
adequate internal accounting controls that provide reasonable assurance that (i)
such Target Company does not maintain any off-the-book accounts and that such
Target Company’s assets are used only in accordance with the Target Company’s
management directives, (ii) transactions are executed with management’s
authorization, (iii) transactions are recorded as necessary to permit
preparation of the financial statements of such Target Company and to maintain
accountability for such Target Company’s assets, (iv) access to such Target
Company’s assets is permitted only in accordance with management’s
authorization, (v) the reporting of such Target Company’s assets is compared
with existing assets at regular intervals and verified for actual amounts and
(vi) accounts, notes and other receivables are recorded accurately, and proper
and adequate procedures are implemented to effect the collection of accounts,
notes and other receivables on a current and timely basis. No Target Company has
been subject to or involved in any material fraud that involves management or
other employees who have a significant role in the internal controls over
financial reporting of the Company and its Subsidiaries. Since January 1, 2017,
no Target Company or its Representatives has received any written complaint,
allegation, assertion or claim regarding the accounting or auditing practices,
procedures, methodologies or methods of any Target Company or its internal
accounting controls, including any material written complaint, allegation,
assertion or claim that any Target Company has engaged in questionable
accounting or auditing practices. 

(c)      No Target Company has ever been subject to the
reporting requirements of Sections 13(a) and 15(d) of the Exchange Act. 

(d)      All material Indebtedness of the Target
Companies is disclosed in the financial statements and related notes previously
delivered to the Purchaser and the Parent. No Indebtedness of any Target Company
contains any restriction upon (i) the prepayment of any of such Indebtedness,
(ii) the incurrence of Indebtedness by any Target Company, or (iii) the ability
of the Target Companies to grant any Lien on their respective properties or
assets. 

9 

(e)      No Target Company is subject to any
Liabilities or obligations (whether or not required to be reflected on a balance
sheet prepared in accordance with GAAP), except for those that are either (i)
adequately reflected or reserved on or provided for in the consolidated balance
sheet of the Company and its Subsidiaries as of the Interim Balance Sheet Date
contained in the Company Financials or (ii) not material and that were incurred
after the Interim Balance Sheet Date in the ordinary course of business
consistent with past practice (other than Liabilities for breach of any Contract
or violation of any Law). 

(f)      All financial projections with respect to the
Target Companies that were delivered by or on behalf of the Company to the
Purchaser and the Parent or their Representatives were prepared in good faith
using assumptions that the Company believes to be reasonable. 

 4.8      Absence of Certain Changes. Since
January 1, 2017, each Target Company has (a) conducted its business only in the
ordinary course of business consistent with past practice, (b) not been subject
to a Material Adverse Effect and (c) has not taken any action or committed or
agreed to take any action that would be prohibited by Section 6.2(b) if
such action were taken on or after the date hereof without the consent of the
Purchaser and the Parent. 

 4.9      Compliance with Laws. No Target Company
is or has been in material conflict or non-compliance with, or in material
default or violation of, nor has any Target Company received, since January 1,
2017, any written or, to the Knowledge of the Company, oral notice of any
material conflict or non-compliance with, or material default or violation of,
any applicable Laws by which it or any of its properties, assets, employees,
business or operations are or were bound or affected. 

 4.10      Company Permits. Each Target Company
(and its employees who are legally required to be licensed by a Governmental
Authority in order to perform his or her duties with respect to his or her
employment with any Target Company), holds all Permits necessary to lawfully
conduct in all material respects its business as presently conducted and as
currently contemplated to be conducted, and to own, lease and operate its assets
and properties (collectively, the “Company
Permits”). The Company has made available to the Purchaser and
the Parent true, correct and complete copies of all material Company Permits.
All of the Company Permits are in full force and effect, and no suspension or
cancellation of any of the Company Permits is pending or, to the Company’s
Knowledge, threatened. No Target Company is in violation in any material respect
of the terms of any Company Permit. 

 4.11      Litigation. There is no (a) Action of
any nature pending or, to the Company’s Knowledge, threatened, nor is there any
reasonable basis for any Action to be made, or (b) Order pending now or rendered
by a Governmental Authority since January 1, 2017, in either case of (a) or (b)
by or against any Target Company, its current or former directors, officers or
equity holders (provided, that any litigation involving the directors, officers
or equity holders of a Target Company must be related to the Target Company’s
business, equity securities or assets), its business, equity securities or
assets. Since January 1, 2017, none of the current or former officers, senior
management or directors of any Target Company have been charged with, indicted
for, arrested for, or convicted of any felony or any crime involving fraud. 

 4.12      Material Contracts. 

(a)      Schedule 4.12(a) sets forth a true,
correct and complete list of, and the Company has made available to the
Purchaser and the Parent (including written summaries of oral Contracts), true,
correct and complete copies of, each Contract to which any Target Company is a
party or by which any Target Company, or any of its properties or assets are
bound or affected (each contract required to be set forth on Schedule
4.12(a), a “Company Material Contract”) that: 

10 

(i)      contains covenants that limit the ability of
any Target Company (A) to compete in any line of business or with any Person or
in any geographic area or to sell, or provide any service or product or solicit
any Person, including any non-competition covenants, employee and customer
non-solicit covenants, exclusivity restrictions, rights of first refusal or
most-favored pricing clauses or (B) to purchase or acquire an interest in any
other Person; 

(ii)      involves any joint venture, profit-sharing,
partnership, limited liability company or other similar agreement or arrangement
relating to the formation, creation, operation, management or control of any
partnership or joint venture; 

(iii)      involves any exchange traded, over the
counter or other swap, cap, floor, collar, futures contract, forward contract,
option or other derivative financial instrument or Contract, based on any
commodity, security, instrument, asset, rate or index of any kind or nature
whatsoever, whether tangible or intangible, including currencies, interest
rates, foreign currency and indices; 

(iv)      evidences Indebtedness (whether incurred,
assumed, guaranteed or secured by any asset) of any Target Company having an
outstanding principal amount in excess of $100,000; 

(v)      involves the acquisition or disposition,
directly or indirectly (by merger or otherwise), of assets with an aggregate
value in excess of $25,000 (other than in the ordinary course of business
consistent with past practice) or shares or other equity interests in or of
another Person; 

(vi)      relates to any merger, consolidation or other
business combination with any other Person or the acquisition or disposition of
any other entity or its business or material assets or the sale of any Target
Company, its business or material assets; 

(vii)      by its terms, individually or with all
related Contracts, calls for aggregate payments or receipts by the Target
Companies under such Contract or Contracts of more than $1,000,000 in the
aggregate; 

(viii)      obligates the Target Companies to provide
continuing indemnification or a guarantee of obligations of a third party after
the date hereof in excess of $100,000; 

(ix)      is between any Target Company and any Top
Customer or Top Supplier (other than in the ordinary course of business); 

(x)      is between any Target Company and any
directors, officers or employees of a Target Company (other than at-will
employment arrangements with employees entered into in the ordinary course of
business consistent with past practice), including all non-competition,
severance and indemnification agreements, or any Related Person; 

(xi)      obligates the Target Companies to make any
capital commitment or expenditure in excess of $25,000 (including pursuant to
any joint venture); 

(xii)      relates to a material settlement entered
into within three (3) years prior to the date of this Agreement or under which
any Target Company has outstanding obligations (other than customary
confidentiality obligations or in the ordinary course of business); 

(xiii)      provides another Person (other than another
Target Company or any manager, director or officer of any Target Company) with a
power of attorney; 

11 

(xiv)      relates to the development, ownership,
licensing or use of any Intellectual Property by, to or from any Target Company,
other than Off-the-Shelf Software Agreements; 

(xv)      relates to any real estates, including,
without limitation, leases, lease guarantees, agreements and documents related
thereto; 

(xvi)      evidences any Liens; or 

(xvii)      is otherwise material to any Target Company
and not described in clauses (i) through (xiv) above. 

(b)      With respect to each Company Material
Contract: (i) such Company Material Contract is valid and binding and
enforceable in all respects against the Target Company party thereto (subject to
the Enforceability Exceptions) and, to the Knowledge of the Company, each other
party thereto, and is in full force and effect; (ii) neither the execution of
this Agreement nor the consummation of the transactions contemplated by this
Agreement will affect the validity or enforceability of any Company Material
Contract; (iii) no Target Company is in breach or default in any respect, and no
event has occurred that with the passage of time or giving of notice or both
would constitute a breach or default by any Target Company, or permit
termination or acceleration by the other party thereto, under such Company
Material Contract; (iv) to the Knowledge of the Company, no other party to such
Company Material Contract is in breach or default in any respect, and no event
has occurred that with the passage of time or giving of notice or both would
constitute such a breach or default by such other party, or permit termination
or acceleration by any Target Company, under such Company Material Contract; (v)
no Target Company has received written or, to the Knowledge of the Company, oral
notice of an intention by any party to any such Company Material Contract that
provides for a continuing obligation by any party thereto to terminate such
Company Material Contract or amend the terms thereof, other than modifications
in the ordinary course of business that do not adversely affect any Target
Company; and (vi) no Target Company has waived any rights under any such Company
Material Contract. 

 4.13      Intellectual Property. 

(a)      Schedule 4.13(a)(i) sets forth: (i) all
Patents, Trademarks, Internet Assets and Copyrights owned or licensed by a
Target Company or otherwise used or held for use by a Target Company in which a
Target Company is the owner, applicant or assignee (“Company Registered
IP”), specifying as to each item, as applicable: (A) the nature of the
item, including the title, (B) the owner of the item, (C) the jurisdictions in
which the item is issued or registered or in which an application for issuance
or registration has been filed and (D) the issuance, registration or application
numbers and dates; and (ii) all material unregistered Intellectual Property
owned or purported to be owned by a Target Company. Schedule 4.13(a)(ii)
sets forth all licenses, sublicenses and other agreements or permissions
(“Company IP Licenses”) (other than “shrink wrap,” “click wrap,”
and “off the shelf” software agreements and other agreements for Software
commercially available on reasonable terms to the public generally with license,
maintenance, support and other fees of less than $5,000 per year (collectively,
“Off-the-Shelf Software Agreements”), which are not required to be
listed, although such licenses are “Company IP Licenses” as that term is used
herein), under which a Target Company is a licensee or otherwise is authorized
to use or practice any Intellectual Property, and describes (A) the applicable
Intellectual Property licensed, sublicensed or used and (B) any royalties,
license fees or other compensation due from a Target Company, if any. Each
Target Company owns, free and clear of all Liens (other than Permitted Liens),
has valid and enforceable rights in, and has the unrestricted right to use,
sell, license, transfer or assign, all Intellectual Property currently used,
licensed or held for use by such Target Company, and previously used or licensed
by such Target Company, except for the Intellectual Property that is the subject
of the Company IP Licenses. For each Patent and Patent application in the
Company Registered IP, the Target Companies have obtained valid
assignments of inventions from each inventor. Except as set forth on Schedule
4.13(a)(iii), all Company Registered IP is owned exclusively by the
applicable Target Company without obligation to pay royalties, licensing fees or
other fees, or otherwise account to any third party with respect to such Company
Registered IP. 

12 

(b)      Each Target Company has a valid and
  enforceable license to use all Intellectual Property that is the subject of the
  Company IP Licenses applicable to such Target Company. The Company IP Licenses
  include all of the licenses, sublicenses and other agreements or permissions
  necessary to operate the Target Companies as presently conducted. Each Target
  Company has performed all obligations imposed on it in the Company IP Licenses,
  has made all payments required to date, and such Target Company is not, nor, to
  the Knowledge of the Company, is any other party thereto, in breach or default
  thereunder, nor has any event occurred that with notice or lapse of time or both
  would constitute a default thereunder. The continued use by the Target Companies
  of the Intellectual Property that is the subject of the Company IP Licenses in
  the same manner that it is currently being used is not restricted by any
  applicable license of any Target Company. All registrations for Copyrights,
  Patents and Trademarks that are owned by or exclusively licensed to any Target
  Company are valid and in force, and all applications to register any Copyrights,
  Patents and Trademarks are pending and in good standing, all without challenge
  of any kind. No Target Company is party to any Contract that requires a Target
  Company to assign to any Person all of its rights in any Intellectual Property
developed by a Target Company under such Contract. 

(c)      Schedule 4.13(c) sets forth all
licenses, sublicenses and other agreements or permissions under which a Target
Company is the licensor (each, an “Outbound IP License”), and for
each such Outbound IP License, describes (i) the applicable Intellectual
Property licensed, (ii) the licensee under such Outbound IP License, and (iii)
any royalties, license fees or other compensation due to a Target Company, if
any. Each Target Company has performed all obligations imposed on it in the
Outbound IP Licenses, and such Target Company is not, nor, to the Knowledge of
the Company, is any other party thereto, in breach or default thereunder, nor
has any event occurred that with notice or lapse of time or both would
constitute a default thereunder. 

(d)      No Action is pending or, to the Company’s
Knowledge, threatened that challenges the validity, enforceability, ownership,
or right to use, sell, license or sublicense any Intellectual Property currently
licensed, used or held for use by the Target Companies in any material respect.
No Target Company has received any written or, to the Knowledge of the Company,
oral notice or claim asserting or suggesting that any infringement,
misappropriation, violation, dilution or unauthorized use of the Intellectual
Property of any other Person is or may be occurring or has or may have occurred,
as a consequence of the business activities of any Target Company, nor to the
Knowledge of the Company is there a reasonable basis therefor. There are no
Orders to which any Target Company is a party or its otherwise bound that (i)
restrict the rights of a Target Company to use, transfer, license or enforce any
Intellectual Property owned by a Target Company, (ii) restrict the conduct of
the business of a Target Company in order to accommodate a third Person’s
Intellectual Property, or (iii) grant any third Person any right with respect to
any Intellectual Property owned by a Target Company. No Target Company is
currently infringing, or has, in the past, infringed, misappropriated or
violated any Intellectual Property of any other Person in any material respect
in connection with the ownership, use or license of any Intellectual Property
owned or purported to be owned by a Target Company or, to the Knowledge of the
Company, otherwise in connection with the conduct of the respective businesses
of the Target Companies. To the Company’s Knowledge, no third party is
infringing upon, has misappropriated or is otherwise violating any Intellectual
Property owned, licensed by, licensed to, or otherwise used or held for use by
any Target Company (“Company IP”) in any material respect. 

13 

(e)      All employees and independent
contractors of a Target Company have assigned to the Target Companies all
Intellectual Property arising from the services performed for a Target Company
by such Persons. No current or former officers, employees or independent
contractors of a Target Company have claimed any ownership interest in any
Intellectual Property owned by a Target Company. To the Knowledge of the
Company, there has been no violation of a Target Company’s policies or practices
related to protection of Company IP or any confidentiality or nondisclosure
Contract relating to the Intellectual Property owned by a Target Company. The
Company has provided the Purchaser and the Parent with true and complete copies
of all written Contracts referenced in subsections under which employees and
independent contractors assigned their Intellectual Property to a Target
Company. 

(f)      To the Knowledge of the Company, no Person has
obtained unauthorized access to third party information and data in the
possession of a Target Company, nor has there been any other compromise of the
security, confidentiality or integrity of such information or data. Each Target
Company has complied with all applicable Laws relating to privacy, personal data
protection, and the collection, processing and use of personal information and
its own privacy policies and guidelines. The operation of the business of the
Target Companies has not and does not materially violate any right to privacy or
publicity of any third person, or constitute unfair competition or trade
practices under applicable Law. 

(g)      The consummation of any of the transactions
contemplated by this Agreement will neither violate nor by their terms result in
the material breach, material modification, cancellation, termination,
suspension of, or acceleration of any payments with respect to, or release of
source code because of (i) any Contract providing for the license or other use
of Intellectual Property owned by a Target Company, or (ii) any Company IP
License. Following the Closing, the Company shall be permitted to exercise,
directly or indirectly through its Subsidiaries, all of the Target Companies’
rights under such Contracts or IP Licenses described in the previous sentence to
the same extent that the Target Companies would have been able to exercise had
the transactions contemplated by this Agreement not occurred, without the
payment of any additional amounts or consideration other than ongoing fees,
royalties or payments which the Target Companies would otherwise be required to
pay in the absence of such transactions. 

 4.14      Taxes and Returns. 

(a)      Each Target Company has or will have timely
filed, or caused to be timely filed, all Tax Returns and reports required to be
filed by it (taking into account all available extensions), which Tax Returns
are true, accurate, correct and complete in all material respects, and has paid,
collected or withheld, or caused to be paid, collected or withheld, all Taxes
required to be paid, collected or withheld, other than such Taxes for which
adequate reserves in the Company Financials have been established in accordance
with GAAP. Schedule 4.14(a) sets forth each jurisdiction in which each
Target Company files or is required to file a Tax Return. Each Target Company
has complied with all applicable Laws relating to Tax. 

(b)      There is no current pending or, to the
Knowledge of the Company, threatened Action against a Target Company by a
Governmental Authority in a jurisdiction where the Target Company does not file
Tax Returns that it is or may be subject to taxation by that jurisdiction.

(c)      No Target Company is being audited by any Tax
authority or has been notified in writing or, to the Knowledge of the Company,
orally by any Tax authority that any such audit is contemplated or pending.
There are no claims, assessments, audits, examinations, investigations or other
Actions pending against a Target Company in respect of any Tax, and no Target
Company has been notified in writing of any proposed Tax claims or assessments
against it (other than, in each case, claims or assessments for which adequate
reserves in the Company Financials have been established).

14 

(d)      There are no Liens with respect to any Taxes
upon any Target Company’s assets, other than Permitted Liens. 

(e)      Each Target Company has collected or withheld
all Taxes currently required to be collected or withheld by it, and all such
Taxes have been paid to the appropriate Governmental Authorities or set aside in
appropriate accounts for future payment when due. 

(f)      No Target Company has any outstanding waivers
or extensions of any applicable statute of limitations to assess any amount of
Taxes. There are no outstanding requests by a Target Company for any extension
of time within which to file any Tax Return or within which to pay any Taxes
shown to be due on any Tax Return. 

(g)      No Target Company has made any change in
accounting method or received a ruling from, or signed an agreement with, any
taxing authority that would reasonably be expected to have a material impact on
its Taxes following the Closing. 

(h)      No Target Company has any Liability for the
Taxes of another Person (other than another Target Company) (i) under any
applicable Tax Law, (ii) as a transferee or successor, or (iii) by contract,
indemnity or otherwise. No Target Company is a party to or bound by any Tax
indemnity agreement, Tax sharing agreement or Tax allocation agreement or
similar agreement, arrangement or practice with respect to Taxes (including
advance pricing agreement, closing agreement or other agreement relating to
Taxes with any Governmental Authority) that will be binding on the Company or
its Subsidiaries with respect to any period following the Closing Date. 

(i)      No Target Company has requested, or is the
subject of or bound by any private letter ruling, technical advice memorandum,
closing agreement or similar ruling, memorandum or agreement with any
Governmental Authority with respect to any Taxes, nor is any such request
outstanding. 

 4.15      Real Property. Schedule 4.15
contains a complete and accurate list of all premises currently leased or
subleased or otherwise used or occupied by a Target Company for the operation of
the business of a Target Company (the “Leased Premises”), and of
all current leases, lease guarantees, agreements and documents related thereto,
including all amendments, terminations and modifications thereof or waivers
thereto (collectively, the “Company Real Property
Leases”), as well as the current annual rent and term under each
Company Real Property Lease. The Company has provided to the Purchaser and the
Parent a true and complete copy of each of the Company Real Property Leases, and
in the case of any oral Company Real Property Lease, a written summary of the
material terms of such Company Real Property Lease. The Company Real Property
Leases are valid, binding and enforceable in accordance with their terms and are
in full force and effect. To the Knowledge of the Company, no event has occurred
which (whether with or without notice, lapse of time or both or the happening or
occurrence of any other event) would constitute a default on the part of a
Target Company or any other party under any of the Company Real Property Leases,
and no Target Company has received notice of any such condition. No Target
Company owns or has ever owned any real property or any interest in real
property (other than the leasehold interests in the Company Real Property
Leases). 

 4.16      Personal Property. Each item of
Personal Property which is currently owned, used or leased by a Target Company
with a book value or fair market value of greater than Twenty-Five Thousand
Dollars ($25,000) is set forth on Schedule 4.16, along with, to the
extent applicable, a list of lease agreements and lease guarantees related
thereto, including all amendments, terminations and modifications thereof or
waivers thereto (“Company Personal Property Leases”). All such
items of Personal Property are in good operating condition and repair
(reasonable wear and tear excepted), and are suitable for their intended use in the business of the Target
Companies. The Company has provided to the Purchaser and the Parent a true and
complete copy of each of the Company Personal Property Leases, and in the case
of any oral Company Personal Property Lease, a written summary of the material
terms of such Company Personal Property Lease. The Company Personal Property
Leases are valid, binding and enforceable in accordance with their terms and are
in full force and effect. To the Knowledge of the Company, no event has occurred
which (whether with or without notice, lapse of time or both or the happening or
occurrence of any other event) would constitute a default on the part of a
Target Company or any other party under any of the Company Personal Property
Leases, and no Target Company has received notice of any such condition.

15 

 4.17      Title to and Sufficiency of Assets.
  Each Target Company has good and marketable title to, or a valid leasehold
  interest in or right to use, all of its assets, free and clear of all Liens
  other than (a) Permitted Liens, (b) the rights of lessors under leasehold
  interests and (c) Liens specifically identified on the Interim Balance Sheet.
  The assets (including Intellectual Property rights and contractual rights) of
  the Target Companies constitute all of the assets, rights and properties that
  are used in the operation of the businesses of the Target Companies as it is now
  conducted and presently proposed to be conducted or that are used or held by the
  Target Companies for use in the operation of the businesses of the Target
  Companies, and taken together, are adequate and sufficient for the operation of
  the businesses of the Target Companies as currently conducted and as presently
proposed to be conducted. 

 4.18      Employee Matters. 

(a)      No Target Company is a party to any collective
bargaining agreement or other Contract with any group of employees, labor
organization or other representative of any of the employees of any Target
Company and the Company has no Knowledge of any activities or proceedings of any
labor union or other party to organize or represent such employees. There has
not occurred or, to the Knowledge of the Company, been threatened any strike,
slow-down, picketing, work-stoppage, or other similar labor activity with
respect to any such employees. There are no unresolved labor controversies
(including unresolved grievances and age or other discrimination claims), if
any, that are pending or, to the Knowledge of the Company, threatened between
any Target Company and Persons employed by or providing services to a Target
Company. No current officer or employee of a Target Company has provided any
Target Company written or, to the Knowledge of the Company, oral notice of his
or her plan to terminate his or her employment with any Target Company. 

(b)      Each Target Company (i) is and has been in
compliance in all material respects with all applicable Laws respecting
employment and employment practices, terms and conditions of employment, health
and safety and wages and hours, and other Laws relating to discrimination,
disability, labor relations, hours of work, payment of wages and overtime wages,
pay equity, immigration, workers compensation, working conditions, employee
scheduling, occupational safety and health, family and medical leave, and
employee terminations, and have not received written notice, or any other form
of notice, that there is any pending Action involving unfair labor practices
against a Target Company, (ii) is not liable for any material arrears of wages
or any material penalty for failure to comply with any of the foregoing, and
(iii) is not liable for any material payment to any Governmental Authority with
respect to unemployment compensation benefits, social security or other benefits
or obligations for employees, independent contractors or consultants (other than
routine payments to be made in the ordinary course of business and consistent
with past practice). There are no Actions pending or, to the Knowledge of the
Company, threatened against a Target Company brought by or on behalf of any
applicant for employment, any current or former employee, any Person alleging to
be a current or former employee, or any Governmental Authority, relating to any
such Law or regulation, or alleging breach of any express or implied contract of
employment, wrongful termination of employment, or alleging any other
discriminatory, wrongful or tortious conduct in connection with the employment
relationship. 

16 

(c)      Schedule 4.18(c) sets forth a complete
and accurate list of all employees of the Target Companies showing for each as
of that date (i) the employee’s name, job title or description, employer,
location, salary level (including any bonus, commission, deferred compensation
or other remuneration payable (other than any such arrangements under which
payments are at the discretion of the Target Companies)), (ii) any bonus,
commission or other remuneration other than salary paid during the calendar year
ending December 31, 2017, and (iii) any wages, salary, bonus, commission or
other compensation due and owing to each employee during or for the calendar
year ending December 31, 2017. Except disclosed in Schedule 4.18(c), no employee
is a party to a written employment Contract with a Target Company and each is
employed with a “non-fixed term” in accordance with the Chinese Labor Contract
Law, and the Target Companies have paid in full to all such employees all wages,
salaries, commission, bonuses and other compensation due to its employees,
including overtime compensation, and there are no severance payments which are
or could become payable by a Target Company to any such employees under the
terms of any written or, to the Company’s Knowledge, oral agreement, or
commitment or any Law, custom, trade or practice. Each such employee has entered
into the Company’s standard form of employee non-disclosure, inventions and
restrictive covenants agreement with the Company or its Subsidiaries (whether
pursuant to a separate agreement or incorporated as part of such employee’s
overall employment agreement), a copy of which has been provided to the
Purchaser and the Parent by the Company. 

(d)      There are no independent contractors
(including consultants) currently engaged by any Target Company, along with the
position, a description of responsibilities, the entity engaging such Person,
date of retention and rate of remuneration, most recent increase (or decrease)
in remuneration and amount thereof, for each such Person. Each such independent
contractors are a party to a written Contract with a Target Company. Each such
independent contractor has entered into customary covenants regarding
confidentiality, non-competition and assignment of inventions and copyrights in
such Person’s agreement with a Target Company, a copy of which has been provided
to the Purchaser and the Parent by the Company. For the purposes of applicable
Law, including the Code, all independent contractors who are currently, or
within the last six (6) years have been, engaged by a Target Company are bona
fide independent contractors and not employees of a Target Company. Each
independent contractor is terminable on fewer than thirty (30) days’ notice,
without any obligation of any Target Company to pay severance or a termination
fee. 

 4.19      Benefit Plans. 

(a)      Set forth on Schedule 4.19(a) is a true
and complete list of each Foreign Plan of a Target Company (each, a
“Company Benefit Plan”). No Target Company has ever maintained or
contributed to (or had an obligation to contribute to) any “employee benefit
plan” (as defined in Section 3(3) of ERISA). 

(b)      With respect to each Company Benefit Plan
which covers any current or former officer, director, consultant or employee (or
beneficiary thereof) of a Target Company, the Company has provided to the
Purchaser and the Parent accurate and complete copies, if applicable, of: (i)
all Company Benefit Plans and related trust agreements or annuity Contracts
(including any amendments, modifications or supplements thereto); (ii) the most
recent annual and periodic accounting of plan assets; (iii) the most recent
actuarial valuation; and (iv) all communications with any Governmental Authority
concerning any matter that is still pending or for which a Target Company has
any outstanding Liability or obligation. 

(c)      With respect to each Company Benefit Plan: (i)
such Company Benefit Plan has been administered and enforced in all material
respects in accordance with its terms and the requirements of any and all
applicable Laws, and has been maintained, where required, in good standing with
applicable regulatory authorities and Governmental Authorities;
(ii) no breach of fiduciary duty has occurred; (iii) no Action is pending, or to
the Company’s Knowledge, threatened (other than routine claims for benefits
arising in the ordinary course of administration); and (iv) all contributions
and premiums required to be made with respect to a Company Benefit have been
timely made. No Target Company has incurred any obligation in connection with
the termination of, or withdrawal from, any Company Benefit Plan. 

17 

(d)      The present value of the accrued benefit
  liabilities (whether or not vested) under each Company Benefit Plan, determined
  as of the end of the Company’s most recently ended fiscal year on the basis of
  actuarial assumptions, each of which is reasonable, did not exceed the current
  value of the assets of such Company Benefit Plan allocable to such benefit
liabilities. 

(e)      The consummation of the transactions
contemplated by this Agreement and the Ancillary Documents will not: (i) entitle
any individual to severance pay, unemployment compensation or other benefits or
compensation; or (ii) accelerate the time of payment or vesting, or increase the
amount of any compensation due, or in respect of, any individual. 

(f)      Except to the extent required by applicable
Law, no Target Company provides health or welfare benefits to any former or
retired employee or is obligated to provide such benefits to any active employee
following such employee’s retirement or other termination of employment or
service. 

(g)      All Company Benefit Plans can be terminated at
any time as of or after the Closing Date without resulting in any liability to
any Target Company, the Purchaser, the Parent or their respective Affiliates for
any additional contributions, penalties, premiums, fees, fines, excise taxes or
any other charges or liabilities. 

 4.20      Environmental Matters.

(a)      Each Target Company is and has been in
compliance in all material respects with all applicable Environmental Laws,
including obtaining, maintaining in good standing, and complying with all
Permits required for its business and operations by Environmental Laws
(“Environmental Permits”), no Action is pending or, to the
Company’s Knowledge, threatened to revoke, modify, or terminate any such
Environmental Permit, and, to the Company’s Knowledge, no facts, circumstances,
or conditions currently exist that could adversely affect such continued
compliance with Environmental Laws and Environmental Permits or require capital
expenditures to achieve or maintain such continued compliance with Environmental
Laws and Environmental Permits. 

(b)      No Target Company is the subject of any
outstanding Order or Contract with any Governmental Authority or other Person in
respect of any (i) Environmental Laws, (ii) Remedial Action, or (iii) Release or
threatened Release of a Hazardous Material. No Target Company has assumed,
contractually or by operation of Law, any Liabilities or obligations under any
Environmental Laws. 

(c)      No Action has been made or is pending, or to
the Company’s Knowledge, threatened against any Target Company or any assets of
a Target Company alleging either or both that a Target Company may be in
material violation of any Environmental Law or Environmental Permit or may have
any material Liability under any Environmental Law. 

(d)      No Target Company has manufactured, treated,
stored, disposed of, arranged for or permitted the disposal of, generated,
handled or released any Hazardous Material, or owned or operated any property or
facility, in a manner that has given or would reasonably be expected to give
rise to any material Liability or obligation under applicable Environmental
Laws. No fact, circumstance, or condition exists in respect of any Target Company or any
property currently or formerly owned, operated, or leased by any Target Company
or any property to which a Target Company arranged for the disposal or treatment
of Hazardous Materials that could reasonably be expected to result in a Target
Company incurring any material Environmental Liabilities. 

18 

(e)      There is no investigation of the business,
  operations, or currently owned, operated, or leased property of a Target Company
  or, to the Company’s Knowledge, previously owned, operated, or leased property
  of a Target Company pending or, to the Company’s Knowledge, threatened that
  could lead to the imposition of any Liens under any Environmental Law or
material Environmental Liabilities. 

(f)      To the Knowledge of the Company, there is not
located at any of the properties of a Target Company any (i) underground storage
tanks, (ii) asbestos-containing material, or (iii) equipment containing
polychlorinated biphenyls. 

(g)      The Company has provided to the Purchaser and
the Parent all environmentally related site assessments, audits, studies,
reports and results of investigations that have been performed in respect of the
currently or previously owned, leased, or operated properties of any Target
Company. 

 4.21      Transactions with Related Persons.
Except as set forth in the financial statements and related notes previously
delivered to the Purchaser and the Parent, no Target Company nor any of its
Affiliates, nor any officer, director, manager, employee, trustee or beneficiary
of a Target Company or any of its Affiliates, nor any immediate family member of
any of the foregoing (whether directly or indirectly through an Affiliate of
such Person) (each of the foregoing, a “Related Person”) is
presently, or since January 1, 2017 has been, a party to any transaction with a
Target Company, including any Contract or other arrangement (a) providing for
the furnishing of services by (other than as officers, directors or employees of
the Target Company), (b) providing for the rental of real property or Personal
Property from or (c) otherwise requiring payments to (other than for services or
expenses as directors, officers or employees of the Target Company in the
ordinary course of business consistent with past practice), any Related Person
or any Person in which any Related Person has an interest as an owner, officer,
manager, director, trustee or partner or in which any Related Person has any
direct or indirect interest (other than the ownership of securities representing
no more than two percent (2%) of the outstanding voting power or economic
interest of a publicly traded company). Except as set forth in the financial
statements and related notes previously delivered to the Purchaser and the
Parent, no Target Company has outstanding any Contract or other arrangement or
commitment with any Related Person, and no Related Person owns any real property
or Personal Property, or right, tangible or intangible (including Intellectual
Property) which is used in the business of any Target Company. Schedule
4.21 specifically identifies all Contracts, arrangements or commitments
subject to this Section 4.21 that cannot be terminated upon sixty (60)
days’ notice by the Target Companies without cost or penalty.

 4.22      Insurance. 

(a)      Schedule 4.22(a) lists all insurance
policies (by policy number, insurer, coverage period, coverage amount, annual
premium and type of policy) held by a Target Company relating to a Target
Company or its business, properties, assets, directors, officers and employees,
copies of which have been provided to the Purchaser and the Parent. All premiums
due and payable under all such insurance policies have been timely paid and the
Company and its Subsidiaries are otherwise in material compliance with the terms
of such insurance policies. All such insurance policies are in full force and
effect, and to the Knowledge of the Company, there is no threatened termination
of, or material premium increase with respect to, any of such insurance
policies. 

19 

(b)      Schedule 4.22(b) identifies each
individual insurance claim in excess of $50,000 made by a Target Company since
January 1, 2017. Each Target Company has reported to its insurers all claims and
pending circumstances that would reasonably be expected to result in a claim
that could be covered by any such insurance policies, except where such failure
to report such a claim would not be reasonably likely to be material to the
Target Companies. No Target Company has made any claim against an insurance
policy as to which the insurer is denying coverage. 

 4.23      Top Customers and Suppliers.
Schedule 4.23 lists, by dollar volume paid for each of (a) the twelve
(12) months ended on December 31, 2017 and (b) the period from January 1, 2018
through the Interim Balance Sheet Date, the key customers of the Target
Companies (the “Top Customers”) and the key suppliers of goods or
services to the Target Companies (the “Top Suppliers”). The
relationships of each Target Company with such suppliers and customers are good
commercial working relationships and (i) no Top Supplier or Top Customer within
the last twelve (12) months has cancelled or otherwise terminated, or, to the
Company’s Knowledge, intends to cancel or otherwise terminate, any relationships
of such Person with a Target Company, (ii) no Top Supplier or Top Customer has
during the last twelve (12) months decreased materially or, to the Company’s
Knowledge, threatened to stop, decrease or limit materially, or intends to
modify materially its relationships with a Target Company or intends to stop,
decrease or limit materially its products or services to any Target Company or
its usage or purchase of the products or services of any Target Company, (iii)
to the Company’s Knowledge, no Top Supplier or Top Customer intends to refuse to
pay any amount due to any Target Company or seek to exercise any remedy against
any Target Company, (iv) no Target Company has within the past two (2) years
been engaged in any material dispute with any Top Supplier or Top Customer, and
(v) to the Company’s Knowledge, the consummation of the transactions
contemplated in this Agreement and the other Ancillary Documents will not affect
the relationship of any Target Company with any Top Supplier or Top
Customer.

 4.24      Books and Records. All of the
financial books and records of the Target Companies are complete and accurate in
all material respects and have been maintained in the ordinary course consistent
with past practice and in accordance with applicable Laws. 

 4.25      Accounts Receivable. All accounts,
notes and other receivables, whether or not accrued, and whether or not billed,
of the Target Companies (the “Accounts Receivable”) arose
from sales actually made or services actually performed and represent valid
obligations to a Target Company. None of the Accounts Receivable are, to the
Knowledge of the Company, subject to any right of recourse, defense, deduction,
return of goods, counterclaim, offset, or set off on the part of the obligor in
excess of any amounts reserved therefor on the Company Financials. All of the
Accounts Receivable are, to the Knowledge of the Company, fully collectible
according to their terms in amounts not less than the aggregate amounts thereof
carried on the books of the Target Companies (net of reserves) within ninety
(90) days. 

 4.26      Certain Business Practices. 

(a)      No Target Company, nor any of their respective
Representatives acting on their behalf, has (i) used any funds for unlawful
contributions, gifts, entertainment or other unlawful expenses relating to
political activity, (ii) made any unlawful payment to foreign or domestic
government officials or employees, to foreign or domestic political parties or
campaigns or violated any provision of the Foreign Corrupt Practices Act of 1977
or (iii) made any other unlawful payment. No Target Company, nor any of their
respective Representatives acting on their behalf has directly or indirectly,
given or agreed to give any gift or similar benefit in any material amount to
any customer, supplier, governmental employee or other Person who is or may be
in a position to help or hinder any Target Company or assist any Target Company
in connection with any actual or proposed transaction. 

20 

(b)      The operations of each Target Company are and
have been conducted at all times in compliance with laundering statutes in all
applicable jurisdictions, the rules and regulations thereunder and any related
or similar rules, regulations or guidelines, issued, administered or enforced by
any Governmental Authority, and no Action involving a Target Company with
respect to the any of the foregoing is pending or, to the Knowledge of the
Company, threatened. 

(c)      No Target Company or any of their respective
directors or officers, or, to the Knowledge of the Company, any other
Representative acting on behalf of a Target Company is currently identified on
the specially designated nationals or other blocked person list or otherwise
currently subject to any U.S. sanctions administered by OFAC, and no Target
Company has, directly or indirectly, used any funds, or loaned, contributed or
otherwise made available such funds to any Subsidiary, joint venture partner or
other Person, in connection with any sales or operations in Cuba, Iran, Syria,
Sudan, Myanmar or any other country sanctioned by OFAC or for the purpose of
financing the activities of any Person currently subject to, or otherwise in
violation of, any U.S. sanctions administered by OFAC in the last five (5)
fiscal years. 

 4.27      Investment Company Act. No Target
Company is an “investment company” or a Person directly or indirectly
“controlled” by or acting on behalf of an “investment company”, in each case
within the meaning of the Investment Company Act of 1940, as amended. 

 4.28      Finders and Investment Bankers. No
Target Company has incurred or will incur any Liability for any brokerage,
finder’s or other fee or commission in connection with the transactions
contemplated hereby. 

 4.29      Independent Investigation. The Company
has conducted its own independent investigation, review and analysis of the
business, results of operations, prospects, condition (financial or otherwise)
or assets of the Parent, and acknowledges that it has been provided adequate
access to the personnel, properties, assets, premises, books and records, and
other documents and data of the Parent for such purpose. The Company
acknowledges and agrees that: (a) in making its decision to enter into this
Agreement and to consummate the transactions contemplated hereby, it has relied
solely upon its own investigation and the express representations and warranties
of the Purchaser and the Parent set forth in Article III (including the
related portions of the Purchaser Disclosure Schedules and any Supplemental
Disclosure Schedules provided by the Purchaser or the Parent); and (b) neither
the Purchaser, the Parent nor any of their Representatives have made any
representation or warranty as to the Parent or the Purchaser or this Agreement,
except as expressly set forth in Article III (including the related
portions of the Purchaser Disclosure Schedules and Supplemental Disclosure
Schedules provided by the Purchaser or the Parent). 

 4.30      Information Supplied. None of the
information supplied or to be supplied by the Company expressly for inclusion or
incorporation by reference: (a) in any Current Report on Form 8-K, and any
exhibits thereto or any other report, form, registration or other filing made
with any Governmental Authority with respect to the transactions contemplated by
this Agreement or any Ancillary Documents; or (b) in the mailings or other
distributions to the Parent’s shareholders and/or prospective investors with
respect to the consummation of the transactions contemplated by this Agreement
or in any amendment to any of documents identified in (a) through (c), will,
when filed, made available, mailed or distributed, as the case may be, 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. Notwithstanding the foregoing, the Company makes no representation,
warranty or covenant with respect to any information supplied by or on behalf of
the Parent or its Affiliates. 

21 

 4.31      Disclosure. No representations or
warranties by the Company in this Agreement (including the disclosure schedules
hereto) or the Ancillary Documents, (a) contains or will contain any untrue
statement of a material fact, or (b) omits or will omit to state, when read in
conjunction with all of the information contained in this Agreement, the
disclosure schedules hereto and the Ancillary Documents, any fact necessary to
make the statements or facts contained therein not materially misleading. 

ARTICLE V 
REPRESENTATIONS AND WARRANTIES OF THE
SELLER 

 Except
as set forth in the Company Disclosure Schedules or in the schedules delivered
by the Seller to the Purchaser and the Parent on the date hereof, the Section
numbers of which are numbered to correspond to the Section numbers of this
Agreement to which they refer, the Seller hereby represents and warrants to the
Purchaser and the Parent as follows:

 5.1      Due Organization and Good
  Standing. Seller is an entity duly organized, validly existing and in good
  standing under the Laws of the jurisdiction of its formation and has all
  requisite power and authority to own, lease and operate its properties and to
  carry on its business as now being conducted. 

 5.2      Authorization; Binding Agreement.
Seller has all requisite power, authority and legal right and capacity to
execute and deliver this Agreement and each Ancillary Document to which it is a
party, to perform Seller’s obligations hereunder and thereunder and to
consummate the transactions contemplated hereby and thereby. This Agreement has
been, and each Ancillary Document to which Seller is or is required to be a
party shall be when delivered, duly and validly executed and delivered by Seller
and assuming the due authorization, execution and delivery of this Agreement and
any such Ancillary Document by the other parties hereto and thereto,
constitutes, or when delivered shall constitute, the legal, valid and binding
obligation of Seller, enforceable against Seller in accordance with its terms,
subject to the Enforceability Exceptions. 

 5.3      Ownership. Seller owns good, valid and
marketable title to the Purchased Shares, free and clear of any and all Liens.
There are no proxies, voting rights, shareholders’ agreements or other
agreements or understandings, to which Seller is a party or by which Seller is
bound, with respect to the voting or transfer of any of Seller’s Purchased
Shares other than this Agreement. Upon delivery of the Purchased Shares to the
Purchaser on the Closing Date in accordance with this Agreement, the entire
legal and beneficial interest in the Purchased Shares and good, valid and
marketable title to the Purchased Shares, free and clear of all Liens (other
than those imposed by applicable securities Laws or those incurred by the
Purchaser), will pass to the Purchaser. 

 5.4      Governmental Approvals. No Consent of
or with any Governmental Authority on the part of Seller is required to be
obtained or made in connection with the execution, delivery or performance by
Seller of this Agreement or any Ancillary Documents or the consummation by
Seller of the transactions contemplated hereby or thereby other than such
filings as expressly contemplated by this Agreement. 

 5.5      Non-Contravention. The execution and
delivery by Seller of this Agreement and each Ancillary Document to which it is
a party or otherwise bound, and the consummation by Seller of the transactions
contemplated hereby and thereby, and compliance by Seller with any of the
provisions hereof and thereof, will not (a) conflict with or violate any
provision of Seller’s Organizational Documents, if any, (b) subject to obtaining
the Consents from Governmental Authorities referred to in Section 5.4 hereof,
and any condition precedent to such Consent or waiver having been satisfied,
conflict with or violate any Law, Order or Consent applicable to Seller or any
of its properties or assets or (c) (i) violate, conflict with or result in a breach of, (ii) constitute a
default (or an event which, with notice or lapse of time or both, would
constitute a default) under, (iii) result in the termination, withdrawal,
suspension, cancellation or modification of, (iv) accelerate the performance
required by Seller under, (v) result in a right of termination or acceleration
under, (vi) give rise to any obligation to make payments or provide compensation
under, (vii) result in the creation of any Lien upon any of the properties or
assets of Seller under, (viii) give rise to any obligation to obtain any third
party consent or provide any notice to any Person or (ix) give any Person the
right to declare a default, exercise any remedy, claim a rebate, chargeback,
penalty or change in delivery schedule, accelerate the maturity or performance,
cancel, terminate or modify any right, benefit, obligation or other term under,
any of the terms, conditions or provisions of, any Contract to which Seller is a
party or Seller or its properties or assets are otherwise bound, except for any
deviations from any of the foregoing clauses (a), (b) or (c) that has not had
and would not reasonably be expected to have a Material Adverse Effect on
Seller. 

22 

 5.6      No Litigation. There is no Action
  pending or, to the Knowledge of Seller, threatened, nor any Order is
  outstanding, against or involving Seller or any of its officers, directors,
  managers, shareholders, properties, assets or businesses, whether at law or in
  equity, before or by any Governmental Authority, which would reasonably be
  expected to adversely affect the ability of Seller to consummate the
  transactions contemplated by, and discharge its obligations under, this
Agreement and the Ancillary Documents to which Seller is a party. 

 5.7      Investment Representations. Seller: (a)
is an “accredited investor” as such term is defined in Rule 501(a) of Regulation
D under the Securities Act; (b) is acquiring its portion of the Exchange Shares
for itself for investment purposes only, and not with a view towards any resale
or distribution of such Exchange Shares; (c) has been advised and understands
that the Exchange Shares (i) are being issued in reliance upon one or more
exemptions from the registration requirements of the Securities Act and any
applicable state securities Laws, (ii) have not been and shall not be registered
under the Securities Act or any applicable state securities Laws and, therefore,
must be held indefinitely and cannot be resold unless such Exchange Shares are
registered under the Securities Act and all applicable state securities Laws,
unless exemptions from registration are available and (iii) are subject to
additional restrictions on transfer pursuant to the Lock-Up Agreement; (d) is
aware that an investment in the Parent is a speculative investment and is
subject to the risk of complete loss; and (e) acknowledges that the Parent is
under no obligation hereunder to register the Exchange Shares under the
Securities Act. No Seller has any Contract with any Person to sell, transfer, or
grant participations to such Person, or to any third Person, with respect to the
Exchange Shares. By reason of Seller’s business or financial experience, or by
reason of the business or financial experience of Seller’s “purchaser
representatives” (as that term is defined in Rule 501(h) under the Securities
Act), Seller is capable of evaluating the risks and merits of an investment in
the Parent and of protecting its interests in connection with this investment.
Seller has carefully read and understands all materials provided by or on behalf
of the Parent or its Representatives to Seller or Seller’s Representatives
pertaining to an investment in the Parent and has consulted, as Seller has
deemed advisable, with its own attorneys, accountants or investment advisors
with respect to the investment contemplated hereby and its suitability for
Seller. Seller acknowledges that the Exchange Shares are subject to dilution for
events not under the control of Seller. Seller has completed its independent
inquiry and has relied fully upon the advice of its own legal counsel,
accountant, financial and other Representatives in determining the legal, tax,
financial and other consequences of this Agreement and the transactions
contemplated hereby and the suitability of this Agreement and the transactions
contemplated hereby for Seller and its particular circumstances, and, except as
set forth herein, has not relied upon any representations or advice by the
Purchaser, the Parent or their Representatives. Seller acknowledges and agrees
that Seller has not been guaranteed or represented to by any Person, (i) any
specific amount or the event of the distribution of any cash, property or other
interest in the Parent or (ii) the profitability or value of the Exchange Shares
in any manner whatsoever. Seller: (A) has been represented by independent
counsel (or has had the opportunity to consult with independent counsel and has declined to do so);
(B) has had the full right and opportunity to consult with Seller’s attorneys
and other advisors and has availed itself of this right and opportunity; (C) has
carefully read and fully understands this Agreement in its entirety and has had
it fully explained to it or him by such counsel; (D) is fully aware of the
contents hereof and the meaning, intent and legal effect thereof; and (E) is
competent to execute this Agreement and has executed this Agreement free from
coercion, duress or undue influence. 

23 

 5.8      Finders and Investment Bankers. Neither
  Seller, nor any of their respective Representatives on their behalf, has
  employed any broker, finder or investment banker or incurred any liability for
  any brokerage fees, commissions, finders’ fees or similar fees in connection
with the transactions contemplated by this Agreement. 

 5.9      Independent Investigation. Seller has
conducted its own independent investigation, review and analysis of the
business, results of operations, prospects, condition (financial or otherwise)
or assets of the Parent, and acknowledges that it has been provided adequate
access to the personnel, properties, assets, premises, books and records, and
other documents and data of the Parent for such purpose. Seller acknowledges and
agrees that: (a) in making its decision to enter into this Agreement and to
consummate the transactions contemplated hereby, it has relied solely upon its
own investigation and the express representations and warranties of the
Purchaser and the Parent set forth in Article III (including the related
portions of the Purchaser Disclosure Schedules and any Supplemental Disclosure
Schedules provided by the Purchaser or the Parent); and (b) neither the
Purchaser, the Parent nor any of their Representatives have made any
representation or warranty as to the Purchaser, the Parent or this Agreement,
except as expressly set forth in Article III (including the related
portions of the Purchaser Disclosure Schedules and Supplemental Disclosure
Schedules provided by the Purchaser or the Parent). 

 5.10      Information Supplied. None of the
information supplied or to be supplied by Seller expressly for inclusion or
incorporation by reference: (a) in any Current Report on Form 8-K, and any
exhibits thereto or any other report, form, registration or other filing made
with any Governmental Authority with respect to the transactions contemplated by
this Agreement or any Ancillary Documents; or (b) in the mailings or other
distributions to the Parent’s shareholders and/or prospective investors with
respect to the consummation of the transactions contemplated by this Agreement
or in any amendment to any of documents identified in (a) through (c), will,
when filed, made available, mailed or distributed, as the case may be, 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. Notwithstanding the foregoing, no Seller makes any representation,
warranty or covenant with respect to any information supplied by or on behalf of
the Purchaser, the Parent or their Affiliates. 

 5.11      Disclosure. No representations or
warranties by Seller in this Agreement (including the disclosure schedules
hereto) or the Ancillary Documents, (a) contains or will contain any untrue
statement of a material fact, or (b) omits or will omit to state, when read in
conjunction with all of the information contained in this Agreement, the
disclosure schedules hereto and the Ancillary Documents, any fact necessary to
make the statements or facts contained therein not materially misleading. 

ARTICLE VI 
COVENANTS 

 6.1      Access and Information. 

(a)      The Company shall give, and shall direct its
Representatives to give, the Purchaser and the Parent and their Representatives,
at reasonable times during normal business hours and upon reasonable intervals and notice, access to all offices and
other facilities and to all employees, properties, Contracts, agreements,
commitments, books and records, financial and operating data and other
information (including Tax Returns, internal working papers, client files,
client Contracts and director service agreements), of or pertaining to the
Target Companies, as the Purchaser, the Parent or their Representatives may
reasonably request regarding the Target Companies and their respective
businesses, assets, Liabilities, financial condition, prospects, operations,
management, employees and other aspects (including unaudited quarterly financial
statements, including a consolidated quarterly balance sheet and income
statement, a copy of each material report, schedule and other document filed
with or received by a Governmental Authority pursuant to the requirements of
applicable securities Laws, and independent public accountants’ work papers
(subject to the consent or any other conditions required by such accountants, if
any)) and instruct each of the Company’s Representatives to cooperate with the
Purchaser, the Parent and their Representatives in their investigation; provided, however, that the Purchaser, the Parent and their
Representatives shall conduct any such activities in such a manner as not to
unreasonably interfere with the business or operations of the Target Companies. 

24 

(b)      The Parent shall give, and shall direct its
  Representatives to give, the Company and its Representatives, at reasonable
  times during normal business hours and upon reasonable intervals and notice,
  access to all offices and other facilities and to all employees, properties,
  Contracts, agreements, commitments, books and records, financial and operating
  data and other information (including Tax Returns, internal working papers,
  client files, client Contracts and director service agreements), of or
  pertaining to the Parent or its Subsidiaries, as the Company or its
  Representatives may reasonably request regarding the Parent, its Subsidiaries
  and their respective businesses, assets, Liabilities, financial condition,
  prospects, operations, management, employees and other aspects (including
  unaudited quarterly financial statements, including a consolidated quarterly
  balance sheet and income statement, a copy of each material report, schedule and
  other document filed with or received by a Governmental Authority pursuant to
  the requirements of applicable securities Laws, and independent public
  accountants’ work papers (subject to the consent or any other conditions
  required by such accountants, if any)) and instruct each of the Parent’s
  Representatives to cooperate with the Company and its Representatives in their
  investigation; provided, however, that the Company and its
  Representatives shall conduct any such activities in such a manner as not to
  unreasonably interfere with the business or operations of the Parent or any of
its Subsidiaries. 

 6.2      Conduct of Business of the Company.

(a)      Unless the Purchaser and the Parent shall
otherwise consent in writing (such consent not to be unreasonably withheld,
conditioned or delayed), during the period from the date of this Agreement and
continuing until the earlier of the termination of this Agreement in accordance
with Section 9.1 or the Closing (the “Interim Period”),
except as expressly contemplated by this Agreement the Company shall, and shall
cause the Target Companies to, (i) conduct their respective businesses, in all
material respects, in the ordinary course of business consistent with past
practice, (ii) comply with all Laws applicable to the Target Companies and their
respective businesses, assets and employees, and (iii) take all reasonable
measures necessary or appropriate to preserve intact, in all material respects,
their respective business organizations, to keep available the services of their
respective managers, directors, officers, employees and consultants, to
maintain, in all material respects, their existing relationships with all Top
Customers and Top Suppliers, and to preserve the possession, control and
condition of their respective material assets, all as consistent with past
practice. 

(b)      Without limiting the generality of Section
6.2(a) and except as contemplated by the terms of this Agreement, during the
Interim Period, without the prior written consent of the Purchaser and the
Parent (such consent not to be unreasonably withheld, conditioned or delayed),
the Company shall not, and shall cause the Target Companies to not: 

25 

(i)      amend, waive or otherwise change, in any
respect, its Organizational Documents; 

(ii)      authorize for issuance, issue, grant, sell,
pledge, dispose of or propose to issue, grant, sell, pledge or dispose of any of
its equity securities or any options, warrants, commitments, subscriptions or
rights of any kind to acquire or sell any of its equity securities, or other
securities, including any securities convertible into or exchangeable for any of
its shares or other equity securities or securities of any class and any other
equity-based awards, or engage in any hedging transaction with a third Person
with respect to such securities; 

(iii)      split, combine, recapitalize or reclassify
any of its shares or other equity interests or issue any other securities in
respect thereof or pay or set aside any dividend or other distribution (whether
in cash, equity or property or any combination thereof) in respect of its equity
interests, or directly or indirectly redeem, purchase or otherwise acquire or
offer to acquire any of its securities; 

(iv)      incur, create, assume, prepay or otherwise
become liable for any Indebtedness (directly, contingently or otherwise),
outside the ordinary course of business, in excess of $100,000 (individually or
in the aggregate), make a loan or advance to or investment in any third party,
or guarantee or endorse any Indebtedness, Liability or obligation of any Person;

(v)      increase the wages, salaries or compensation
of any of its executive officers, or, in the case of employees other than
executive officers, increase the wages, salaries or compensation of any of such
employees other than in the ordinary course of business, consistent with past
practice, and in any event not in the aggregate by more than five percent (5%),
or make or commit to make any bonus payment (whether in cash, property or
securities) to any employee, or materially increase other benefits of employees
generally, or enter into, establish, materially amend or terminate any Company
Benefit Plan with, for or in respect of any current consultant, officer, manager
director or employee, in each case other than as required by applicable Law,
pursuant to the terms of any Company Benefit Plans or in the ordinary course of
business consistent with past practice; 

(vi)      make or rescind any material election
relating to Taxes, settle any claim, action, suit, litigation, proceeding,
arbitration, investigation, audit or controversy relating to Taxes, file any
amended Tax Return or claim for refund, or make any material change in its
accounting or Tax policies or procedures, in each case except as required by
applicable Law or in compliance with GAAP; 

(vii)      transfer or license to any Person or
otherwise extend, materially amend or modify, permit to lapse or fail to
preserve any of the Company Registered IP, Company Licensed IP or other Company
IP, or disclose to any Person who has not entered into a confidentiality
agreement any Trade Secrets; 

(viii)      terminate, or waive or assign any material
right under, any Company Material Contract outside of the ordinary course of
business or enter into any Contract (A) involving amounts reasonably expected to
exceed $100,000 per year or $250,000 in the aggregate, (B) that would be a
Company Material Contract or (C) with a term longer than one year that cannot be
terminated without payment of a material penalty and upon notice of sixty (60)
days or less; 

(ix)      fail to maintain its books, accounts and
records in all material respects in the ordinary course of business consistent
with past practice; 

(x)      establish any Subsidiary or enter into any new
line of business; 

26

(xi)      fail to use commercially reasonable efforts
to keep in force insurance policies or replacement or revised policies providing
insurance coverage with respect to its assets, operations and activities in such
amount and scope of coverage as are currently in effect; 

(xii)      revalue any of its material assets or make
any change in accounting methods, principles or practices, except to the extent
required to comply with GAAP and after consulting with the Company’s outside
auditors; 

(xiii)      waive, release, assign, settle or
compromise any claim, action or proceeding (including any suit, action, claim,
proceeding or investigation relating to this Agreement or the transactions
contemplated hereby), other than waivers, releases, assignments, settlements or
compromises that involve only the payment of monetary damages (and not the
imposition of equitable relief on, or the admission of wrongdoing by, the
Company or its Affiliates) not in excess of $100,000 (individually or in the
aggregate), or otherwise pay, discharge or satisfy any Actions, Liabilities or
obligations, unless such amount has been reserved in the Company Financials;

(xiv)      close or materially reduce its activities,
or effect any layoff or other personnel reduction or change, at any of its
facilities; 

(xv)      acquire, including by merger, consolidation,
acquisition of stock or assets, or any other form of business combination, any
corporation, partnership, limited liability company, other business organization
or any division thereof, or any material amount of assets outside the ordinary
course of business consistent with past practice; 

(xvi)      make capital expenditures in excess of
$100,000 (individually for any project (or set of related projects) or $250,000
in the aggregate); 

(xvii)      adopt a plan of complete or partial
liquidation, dissolution, merger, consolidation, restructuring, recapitalization
or other reorganization; 

(xviii)      voluntarily incur any Liability or
obligation (whether absolute, accrued, contingent or otherwise) in excess of
$100,000 individually or $250,000 in the aggregate other than pursuant to the
terms of a Company Material Contract or Company Benefit Plan; 

(xix)      sell, lease, license, transfer, exchange or
swap, mortgage or otherwise pledge or encumber (including securitizations), or
otherwise dispose of any material portion of its properties, assets or rights;

(xx)      enter into any agreement, understanding or
arrangement with respect to the voting of equity securities of the Company; 

(xxi)      take any action that would reasonably be
expected to significantly delay or impair the obtaining of any consents or
approvals of any Governmental Authority to be obtained in connection with this
Agreement; 

(xxii)      enter into, amend, waive or terminate
(other than terminations in accordance with their terms) any transaction with
any Related Person (other than compensation and benefits and advancement of
expenses, in each case, provided in the ordinary course of business consistent
with past practice); 

(xxiii)      make any payments or transfer any assets
to any affiliates; or 

27 

(xxiv)      authorize or agree to do any of the
foregoing actions. 

 6.3      Conduct of Business of the Parent. 

(a)      Except as contemplated by the terms of this
Agreement (including all of the transactions contemplated by the proxy statement
filed by the Parent on September 4, 2018 and any filings subsequent to such date
and prior to the date hereof) during the Interim Period, without the prior
written consent of the Company (such consent not to be unreasonably withheld,
conditioned or delayed), the Parent shall not: 

(i)      amend, waive or otherwise change, in any
respect, its Organizational Documents; 

(ii)      except as contemplated herein, authorize for
issuance, issue, grant, sell, pledge, dispose of or propose to issue, grant,
sell, pledge or dispose of any of its equity securities or any options,
warrants, commitments, subscriptions or rights of any kind to acquire or sell
any of its equity securities, or other securities, including any securities
convertible into or exchangeable for any of its equity securities or other
security interests of any class and any other equity-based awards, or engage in
any hedging transaction with a third Person with respect to such securities;

(iii)      split, combine, recapitalize or reclassify
any of its shares or other equity interests or issue any other securities in
respect thereof or pay or set aside any dividend or other distribution (whether
in cash, equity or property or any combination thereof) in respect of its shares
or other equity interests, or directly or indirectly redeem, purchase or
otherwise acquire or offer to acquire any of its securities; 

(iv)      incur, create, assume, prepay or otherwise
become liable for any Indebtedness (directly, contingently or otherwise) in
excess of $100,000 (individually or in the aggregate), make a loan or advance to
or investment in any third party, or guarantee or endorse any Indebtedness,
Liability or obligation of any Person; 

(v)      make or rescind any material election relating
to Taxes, settle any claim, action, suit, litigation, proceeding, arbitration,
investigation, audit or controversy relating to Taxes, file any amended Tax
Return or claim for refund, or make any material change in its accounting or Tax
policies or procedures, in each case except as required by applicable Law or in
compliance with GAAP; 

(vi)      terminate, waive or assign any material right
under any material agreement to which it is a party; 

(vii)      fail to maintain its books, accounts and
records in all material respects in the ordinary course of business consistent
with past practice; 

(viii)      establish any Subsidiary or enter into any
new line of business; 

(ix)      fail to use commercially reasonable efforts
to keep in force insurance policies or replacement or revised policies providing
insurance coverage with respect to its assets, operations and activities in such
amount and scope of coverage as are currently in effect; 

(x)      revalue any of its material assets or make any
change in accounting methods, principles or practices, except to the extent
required to comply with GAAP and after consulting the Parent’s outside auditors;

28 

(xi)      waive, release, assign, settle or compromise
any claim, action or proceeding (including any suit, action, claim, proceeding
or investigation relating to this Agreement or the transactions contemplated
hereby), other than waivers, releases, assignments, settlements or compromises
that involve only the payment of monetary damages (and not the imposition of
equitable relief on, or the admission of wrongdoing by, the Parent) not in
excess of $100,000 (individually or in the aggregate), or otherwise pay,
discharge or satisfy any Actions, Liabilities or obligations, unless such amount
has been reserved in the Parent Financials; 

(xii)      acquire, including by merger, consolidation,
acquisition of stock or assets, or any other form of business combination, any
corporation, partnership, limited liability company, other business organization
or any division thereof, or any material amount of assets outside the ordinary
course of business; 

(xiii)      make capital expenditures in excess of
$100,000 individually for any project (or set of related projects) or $250,000
in the aggregate; 

(xiv)      adopt a plan of complete or partial
liquidation, dissolution, merger, consolidation, restructuring, recapitalization
or other reorganization; 

(xv)      voluntarily incur any Liability or obligation
(whether absolute, accrued, contingent or otherwise) in excess of $100,000
individually or $250,000 in the aggregate other than pursuant to the terms of a
material Contract in existence as of the date of this Agreement or entered into
in the ordinary course of business or in accordance with the terms of this
Section 6.3 during the Interim Period; 

(xvi)      sell, lease, license, transfer, exchange or
swap, mortgage or otherwise pledge or encumber (including securitizations), or
otherwise dispose of any material portion of its properties, assets or rights;

(xvii)      enter into any agreement, understanding or
arrangement with respect to the voting of the Parent Shares; 

(xviii)      take any action that would reasonably be
expected to significantly delay or impair the obtaining of any consents or
approvals of any Governmental Authority to be obtained in connection with this
Agreement; or 

(xix)      authorize or agree to do any of the
foregoing actions. 

 6.4      Annual and Interim Financial
Statements. From the date hereof through the Closing Date, within thirty
(30) calendar days following the end of each three-month quarterly period and
each fiscal year, the Company shall deliver to the Parent an unaudited
consolidated income statement and an unaudited consolidated balance sheet for
the period from the Interim Balance Sheet Date through the end of such quarterly
period or fiscal year and the applicable comparative period in the preceding
fiscal year, in each case accompanied by a certificate of the Chief Financial
Officer of the Company to the effect that all such financial statements fairly
present the consolidated financial position and results of operations of the
Target Companies as of the date or for the periods indicated, in accordance with
GAAP, subject to year-end audit adjustments and excluding footnotes. From the
date hereof through the Closing Date, the Company will also promptly deliver to
the Parent copies of any audited consolidated financial statements of the
Company and its Subsidiaries that the Company’s certified public accountants may
issue. 

29 

 6.5      Parent Public Filings. During the
Interim Period, the Parent will keep current and timely file all of its public
filings with the SEC and otherwise comply in all material respects with
applicable securities Laws and shall use its commercially reasonable efforts to
maintain the listing of the Parent Shares on NYSE. 

 6.6      No Solicitation. 

(a)      For purposes of this Agreement, (i) an
“Acquisition Proposal” means any inquiry, proposal or offer, or
any indication of interest in making an offer or proposal, from any Person or
group at any time relating to an Alternative Transaction, and (ii) an
“Alternative Transaction” means with respect to (A) the Company,
the Seller and their respective Affiliates and (B) the Parent and its
Affiliates, a transaction (other than the transactions contemplated by this
Agreement) concerning the sale of (x) all or any material part of the business
or assets of any Target Companies or the Parent or (y) any of the shares or
other equity interests or profits of any Target Companies or the Parent, in any
case, whether such transaction takes the form of a sale of shares or other
equity, assets, merger, consolidation, issuance of debt securities, management
Contract, joint venture or partnership, or otherwise. 

(b)      During the Interim Period, in order to induce
the other Parties to continue to commit to expend management time and financial
resources in furtherance of the transactions contemplated hereby, each Party
shall not, and shall cause its Representatives to not, without the prior written
consent of the Company and the Parent, directly or indirectly, (i) solicit,
assist, initiate or facilitate the making, submission or announcement of, or
intentionally encourage, any Acquisition Proposal, (ii) furnish any non-public
information regarding such Party or its Affiliates (or, with respect to Seller,
any Target Company) or their respective businesses, operations, assets,
Liabilities, financial condition, prospects or employees to any Person or group
(other than a Party to this Agreement or their respective Representatives) in
connection with or in response to an Acquisition Proposal, (iii) engage or
participate in discussions or negotiations with any Person or group with respect
to, or that could be expected to lead to, an Acquisition Proposal, (iv) approve,
endorse or recommend, or publicly propose to approve, endorse or recommend, any
Acquisition Proposal, (v) negotiate or enter into any letter of intent,
agreement in principle, acquisition agreement or other similar agreement related
to any Acquisition Proposal, or (vi) release any third Person from, or waive any
provision of, any confidentiality agreement to which such Party is a party. 

(c)      Each Party shall notify the others as promptly
as practicable (and in any event within 48 hours) orally and in writing of the
receipt by such Party or any of its Representatives of (i) any bona fide
inquiries, proposals or offers, requests for information or requests for
discussions or negotiations regarding or constituting any Acquisition Proposal
or any bona fide inquiries, proposals or offers, requests for information or
requests for discussions or negotiations that could be expected to result in an
Acquisition Proposal, and (ii) any request for non-public information relating
to such Party or its Affiliates (or any Target Company), specifying in each
case, the material terms and conditions thereof (including a copy thereof if in
writing or a written summary thereof if oral) and the identity of the party
making such inquiry, proposal, offer or request for information. Each Party
shall keep the others promptly informed of the status of any such inquiries,
proposals, offers or requests for information. During the Interim Period, each
Party shall, and shall cause its Representatives to, immediately cease and cause
to be terminated any solicitations, discussions or negotiations with any Person
with respect to any Acquisition Proposal and shall, and shall direct its
Representatives to, cease and terminate any such solicitations, discussions or
negotiations. 

 6.7      No Trading. The Company and the Seller
acknowledge and agree that each is aware, and that the Company’s Affiliates are
aware (and each of their respective Representatives is aware or, upon receipt of
any material nonpublic information of the Parent, will be advised) of the
restrictions imposed by the Federal Securities Laws and other applicable foreign and
domestic Laws on a Person possessing material nonpublic information about a
publicly traded company. Each of the Company and the Seller hereby agree that,
while any of them are in possession of such material nonpublic information, it
shall not purchase or sell any securities of the Parent (other than acquire the
Exchange Shares in accordance with Article I), communicate such information to
any third party, take any other action with respect to the Parent in violation
of such Laws, or cause or encourage any third party to do any of the foregoing.

30 

 6.8      Notification of Certain Matters. During
  the Interim Period, each of the Parties shall give prompt notice to the other
  Parties if such Party or its Affiliates (or, with respect to the Company,
  Seller): (a) fails to comply with or satisfy any covenant, condition or
  agreement to be complied with or satisfied by it or its Affiliates (or, with
  respect to the Company, Seller) hereunder in any material respect; (b) receives
  any notice or other communication in writing from any third party (including any
  Governmental Authority) alleging (i) that the Consent of such third party is or
  may be required in connection with the transactions contemplated by this
  Agreement or (ii) any non-compliance with any Law by such Party or its
  Affiliates (or, with respect to the Company, Seller); (c) receives any notice or
  other communication from any Governmental Authority in connection with the
  transactions contemplated by this Agreement; (d) discovers any fact or
  circumstance that, or becomes aware of the occurrence or non-occurrence of any
  event the occurrence or non-occurrence of which, would reasonably be expected to
  cause or result in any of the conditions set forth in Article VIII to not
  being satisfied or the satisfaction of those conditions being materially
  delayed; or (e) becomes aware of the commencement or threat, in writing, of any
  Action against such Party or any of its Affiliates (or, with respect to the
  Company, Seller), or any of their respective properties or assets, or, to the
  Knowledge of such Party, any officer, director, partner, member or manager, in
  his, her or its capacity as such, of such Party or of its Affiliates (or, with
  respect to the Company, Seller) with respect to the consummation of the
  transactions contemplated by this Agreement. No such notice shall constitute an
  acknowledgement or admission by the Party providing the notice regarding whether
  or not any of the conditions to the Closing have been satisfied or in
  determining whether or not any of the representations, warranties or covenants
contained in this Agreement have been breached. 

 6.9      Efforts. 

(a)      Subject to the terms and conditions of this
Agreement, each Party shall use its commercially reasonable efforts, and shall
cooperate fully with the other Parties, to take, or cause to be taken, all
actions and to do, or cause to be done, all things necessary, proper or
advisable under applicable Laws and regulations to consummate the transactions
contemplated by this Agreement (including the receipt of all applicable consents
of Governmental Authorities) and to comply as promptly as practicable with all
requirements of Governmental Authorities applicable to the transactions
contemplated by this Agreement.

(b)      Prior to the Closing, each Party shall use its
commercially reasonable efforts to obtain any Consents of Governmental
Authorities or other third Persons as may be necessary for the consummation by
such Party or its Affiliates of the transactions contemplated by this Agreement
or required as a result of the execution or performance of, or consummation of
the transactions contemplated by, this Agreement by such Party or its
Affiliates, and the other Parties shall provide reasonable cooperation in
connection with such efforts. 

(c)      Notwithstanding anything herein to the
contrary, no Party shall be required to agree to any term, condition or
modification with respect to obtaining any Consents in connection with the
transactions contemplated by this Agreement that would result in, or would be
reasonably likely to result in: (i) a Material Adverse Effect to such Party or
its Affiliates, or (ii) such Party having to cease, sell or otherwise dispose of any material assets or businesses
(including the requirement that any such assets or business be held separate).

31 

 6.10      Further Assurances. The Parties hereto
  shall further cooperate with each other and use their respective commercially
  reasonable efforts to take or cause to be taken all actions, and do or cause to
  be done all things, necessary, proper or advisable on their part under this
  Agreement and applicable Laws to consummate the transactions contemplated by
  this Agreement as soon as practicable, including preparing and filing as soon as
  practicable all documentation to effect all necessary notices, reports and other
filings. 

 6.11      [Intentionally Omitted] 

 6.12      Public Announcements. The Parties
agree that no public release, filing or announcement concerning this Agreement
or the Ancillary Documents or the transactions contemplated hereby or thereby
shall be issued by any Party or any of their Affiliates without the prior
written consent of the Parent and the Company (which consent shall not be
unreasonably withheld, conditioned or delayed), except as such release or
announcement may be required by applicable Law or the rules or regulations of
any securities exchange, in which case the applicable Party shall use
commercially reasonable efforts to allow the other Parties reasonable time to
comment on, and arrange for any required filing with respect to, such release or
announcement in advance of such issuance. 

 6.13      Confidential Information. 

(a)      The Company (prior to the Closing) and the
Seller hereby agree that they shall, and shall cause their respective
Representatives to: (i) treat and hold in strict confidence any Parent
Confidential Information, and will not use it for any purpose (except in
connection with the consummation of the transactions contemplated by this
Agreement or the Ancillary Documents, performing their obligations hereunder or
thereunder, enforcing their rights hereunder or thereunder, or in furtherance of
their authorized duties on behalf of the Parent or its Subsidiaries), nor
directly or indirectly disclose, distribute, publish, disseminate or otherwise
make available to any third party any of the Parent Confidential Information
without the Parent’s prior written consent; and (ii) in the event that the
Company (prior to the Closing), Seller or any of the respective Representatives
becomes legally compelled to disclose any Parent Confidential Information, (A)
provide the Parent with prompt written notice of such requirement so that the
Parent or an Affiliate thereof may seek a protective order or other remedy or
waive compliance with this Section 6.13(a), and (B) in the event that
such protective order or other remedy is not obtained, or the Parent waives
compliance with this Section 6.13(a), furnish only that portion of such
Parent Confidential Information which is legally required to be provided as
advised in writing by outside counsel and to exercise its commercially
reasonable efforts to obtain assurances that confidential treatment will be
accorded such Parent Confidential Information. In the event that this Agreement
is terminated and the transactions contemplated hereby are not consummated, the
Company and the Seller shall, and shall cause their respective Representatives
to, promptly deliver to the Parent any and all copies (in whatever form or
medium) of Parent Confidential Information and destroy all notes, memoranda,
summaries, analyses, compilations and other writings related thereto or based
thereon. 

(b)      Each of the Purchaser and the Parent hereby
agrees that during the Interim Period and, in the event this Agreement is
terminated in accordance with Article IX, for a period of two (2) years
after such termination, it shall, and shall cause its Representatives to: (i)
treat and hold in strict confidence any Company Confidential Information, and
will not use for any purpose (except in connection with the consummation of the
transactions contemplated by this Agreement or the Ancillary Documents,
performing its obligations hereunder or thereunder or enforcing its rights
hereunder or thereunder), nor directly or indirectly disclose, distribute,
publish, disseminate or otherwise make available to any third party any of the Company Confidential Information without the
Company’s prior written consent; and (ii) in the event that the Purchaser, the
Parent or any of their Representatives becomes legally compelled to disclose any
Company Confidential Information, (A) provide the Company with prompt written
notice of such requirement so that the Company, Seller or an Affiliate of any of
them may seek a protective order or other remedy or waive compliance with this Section 6.13(b), and (B) in the event that such protective order or other
remedy is not obtained, or the Company waives compliance with this Section
6.13(b), furnish only that portion of such Company Confidential Information
which is legally required to be provided as advised in writing by outside
counsel and to exercise its commercially reasonable efforts to obtain assurances
that confidential treatment will be accorded such Company Confidential
Information. In the event that this Agreement is terminated and the transactions
contemplated hereby are not consummated, the Purchaser and the Parent shall, and
shall cause their Representatives to, promptly deliver to the Company any and
all copies (in whatever form or medium) of Company Confidential Information and
destroy all notes, memoranda, summaries, analyses, compilations and other
writings related thereto or based thereon. Notwithstanding the foregoing, the
Purchaser, the Parent and their Representatives shall be permitted to disclose
any and all Company Confidential Information to the extent required by the
Federal Securities Laws. 

32 

 6.14      Litigation Support. Following the
  Closing, in the event that and for so long as any Party is actively contesting
  or defending against any third party or Governmental Authority Action in
  connection with any fact, situation, circumstance, status, condition, activity,
  practice, plan, occurrence, event, incident, action, failure to act or
  transaction that existing on or prior to the Closing Date involving the
  Purchaser, the Parent or any Target Company, each of the other Parties will (i)
  reasonably cooperate with the contesting or defending party and its counsel in
  the contest or defense, (ii) make available its personnel at reasonable times
  and upon reasonable notice and (iii) provide (A) such testimony and (B) access
  to its non-privileged books and records as may be reasonably requested in
  connection with the contest or defense, at the sole cost and expense of the
contesting or defending party. 

 6.15      Documents and Information. After the
Closing Date, the Parent, the Purchaser and the Target Companies shall, and
shall cause their respective Subsidiaries to, until the seventh (7th)
anniversary of the Closing Date, retain all books, records and other documents
pertaining to the business of the Target Companies in existence on the Closing
Date.

 6.16      [Intentionally Omitted]. 

 6.17      Supplemental Disclosure Schedules.

(a)      During the Interim Period, each of the
Company, the Seller, the Parent and the Purchaser shall have the right, by
providing one or more written supplemental disclosure schedules
(“Supplemental Disclosure Schedules”) to the others, to update its
disclosure schedules: (a) to reflect changes in the ordinary course of business
first existing or occurring after the date of this Agreement, which if existing
or occurring on or prior to the date of this Agreement, would have been required
to be set forth on such schedules, and (b) which updates do not result from any
breach of a covenant made by such disclosing Party or its Affiliates in this
Agreement. Other than any updates permitted by the prior sentence, no
Supplemental Disclosure Schedule shall affect any of the conditions to the
Parties’ respective obligations under the Agreement (including for purposes of
determining satisfaction or waiver of the conditions set forth in Article
VIII), or any other remedy available to the Parties arising from a
representation or warranty that was or would be inaccurate, or a warranty that
would be breached, without qualification by the update. 

(b)      For the purposes of the Company Disclosure
Schedules and the Purchaser Disclosure Schedules, any information, item or other
disclosure set forth in any part of such disclosure schedules (or, to the extent applicable, any Supplemental
Disclosure Schedule) shall be deemed to have been set forth in all other
applicable parts of such disclosure schedules (or, to the extent applicable,
Supplemental Disclosure Schedules) to the extent that the applicability of such
disclosure to such other parts is reasonably apparent on the face of such
disclosure. Inclusion of information in any disclosure schedule or Supplemental
Disclosure Schedule shall not be construed as an admission by such party that
such information is material to the business, properties, financial condition or
results of operations of, as applicable, the Company, the Seller, the Parent or
the Purchaser or their respective Affiliates. Matters reflected in any
disclosure schedule or Supplemental Disclosure Schedule is not necessarily
limited to matters required by this Agreement to be reflected therein and the
inclusion of such matters shall not be deemed an admission that such matters
were required to be reflected in such disclosure schedule or Supplemental
Disclosure Schedule. Such additional matters are set forth for informational
purposes only and do not necessarily include other matters of a similar nature.

33 

 6.18      Parent Policies. During the Interim
  Period, the Parent will consult with the Company, and the Parent and the Company
  will adopt, effective as of the Closing, corporate and operational policies for
  the Parent, the Company and their respective Subsidiaries, including the Target
  Companies, appropriate for a company publicly traded in the United States with
  active business and operations in the industries and regions in which the Target
Companies operate and contemplate operating as of the Closing.

 6.19      SOX 404(b) Compliance. From and after
the Closing, the Seller agrees to engage the Parent’s audit firm to complete an
attestation, to the extent required pursuant to Section 404(b) of SOX and Item
308(b) of Regulation S-K, of the Parent’s internal control over financial
reporting effective no later than December 31, 2019, or such earlier date as is
required by SEC rules or other applicable Law, with such audit firm’s
attestation report to be included in the Parent’s applicable annual report, if
required by SEC rules or other applicable Law. 

ARTICLE VII 
SURVIVAL

 7.1      Survival.

(a)      All representations and warranties of the
Company and the Seller contained in this Agreement (including all schedules and
exhibits hereto and all certificates, documents, instruments and undertakings
furnished pursuant to this Agreement) shall survive the Closing through and
until the second (2nd) anniversary of the Closing Date;
provided, however, that (a) the representations and warranties contained
in Sections 4.14 (Taxes and Returns), 4.19 (Benefit Plans),
4.20 (Environmental Matters), 4.30 (Information Supplied) and
5.10 (Information Supplied) shall survive until sixty (60) days after the
expiration of the applicable statute of limitations, and (b) the representations
and warranties contained in Sections 4.1 (Due Organization and Good
Standing), 4.2 (Authorization; Binding Agreement), 4.3
(Capitalization), 4.4 (Subsidiaries), 4.28 (Finders and Investment
Bankers), 4.29 (Independent Investigation), 5.1 (Due Organization
and Good Standing), 5.2 (Authorization; Binding Agreement), 5.3
(Ownership), 5.8 (Finders and Investment Bankers) and 5.9
(Independent Investigation) will survive indefinitely. Additionally, Fraud
Claims against the Company or the Seller shall survive indefinitely. If written
notice of a claim for breach of any representation or warranty has been given
before the applicable date when such representation or warranty no longer
survives in accordance with this Section 7.1(a), then the relevant
representations and warranties shall survive as to such claim, until the claim
has been finally resolved. All covenants, obligations and agreements of the
Company and the Seller contained in this Agreement (including all schedules and
exhibits hereto and all certificates, documents, instruments and undertakings
furnished pursuant to this Agreement) shall survive the Closing and continue
until fully performed in accordance with their terms.

34 

(b)      The representations and warranties of the
Purchaser and the Parent contained in this Agreement or in any certificate or
instrument delivered pursuant to this Agreement shall not survive the Closing,
and from and after the Closing, each of the Purchaser and the Parent and their
Representatives shall not have any further obligations, nor shall any claim be
asserted or action be brought against the Purchaser, the Parent or their
Representatives with respect thereto. The covenants and agreements made by the
Purchaser or the Parent in this Agreement or in any certificate or instrument
delivered pursuant to this Agreement, including any rights arising out of any
breach of such covenants or agreements, shall not survive the Closing, except
for those covenants and agreements contained herein and therein that by their
terms apply or are to be performed in whole or in part after the Closing.

 7.2      Indemnification by the Seller . Subject
to the terms and conditions of this Article VII, from and after the
Closing, the Seller and its respective successors and assigns (the
“Indemnifying Parties”) will jointly and severally indemnify,
defend and hold harmless the Purchaser, the Parent and their Affiliates and
their respective officers, directors, managers, employees, successors and
permitted assigns (the “Indemnified Parties”) from and against any
and all losses, Actions, Orders, Liabilities, damages (including consequential
damages), diminution in value, Taxes, interest, penalties, Liens, amounts paid
in settlement, costs and expenses (including reasonable expenses of
investigation and court costs and reasonable attorneys’ fees and expenses), (any
of the foregoing, a “Loss”) paid, suffered or incurred by, or
imposed upon, any Indemnified Party to the extent arising in whole or in part
out of or resulting directly or indirectly from (whether or not involving a
Third Party Claim): (i) the breach of any representation or warranty made by the
Company or Seller set forth in this Agreement or in any certificate delivered by
the Company or Seller pursuant to this Agreement; (ii) the breach of any
covenant or agreement on the part of Seller or the Company set forth in this
Agreement or in any certificate delivered by the Company or Seller pursuant to
this Agreement; (iii) any Action by Person(s) who were holders of equity
securities of a Target Company, including options, warrants, convertible debt or
other convertible securities or other rights to acquire equity securities of a
Target Company, prior to the Closing arising out of the sale, purchase,
termination, cancellation, expiration, redemption or conversion of any such
securities; or (iv) any Fraud Claims. 

 7.3      General Indemnification Provisions.

(a)      Solely for purposes of determining the amount
of Losses under this Section 7.3 (and, for the avoidance of doubt, not
for purposes of determining whether there has been a breach giving rise to the
indemnification claim), all of the representations, warranties and covenants set
forth in this Agreement (including the disclosure schedules hereto) or any
Ancillary Document that are qualified by materiality, Material Adverse Effect or
words of similar import or effect will be deemed to have been made without any
such qualification. 

(b)      No investigation or knowledge by an
Indemnified Party or its Representatives of a breach of a representation,
warranty, covenant or agreement of an Indemnifying Party shall affect the
representations, warranties, covenants and agreements of the Indemnifying Party
or the recourse available to the Indemnified Parties under any provision of this
Agreement, including this Section 7.3, with respect thereto. 

(c)      The amount of any Losses suffered or incurred
by any Indemnified Party shall be reduced by the amount of any insurance
proceeds paid to the Indemnified Party or any Affiliate thereof as a
reimbursement with respect to such Losses (and no right of subrogation shall
accrue to any insurer hereunder, except to the extent that such waiver of
subrogation would prejudice any applicable insurance coverage), net of the costs
of collection and the increases in insurance premiums resulting from such Loss
or insurance payment. 

35 

 7.4      Indemnification Procedures. 

(a)      The Parent shall have the sole right to act on
behalf of the Indemnified Parties with respect to any indemnification claims
made pursuant to this Article VII, including bringing and settling any
claims hereunder and receiving any notices on behalf of the Indemnified Parties.
The Seller shall have the sole right to act on behalf of the Indemnifying
Parties with respect to any indemnification claims made pursuant to this
Article VII, including defending and settling any claims hereunder and
receiving any notices on behalf of the Indemnifying Parties. 

(b)      In order to make a claim for indemnification
hereunder, the Parent on behalf of an Indemnified Party must provide written
notice (a “Claim Notice”) of such claim to the Seller on behalf of
the Indemnifying Parties, which Claim Notice shall include (i) a reasonable
description of the facts and circumstances which relate to the subject matter of
such indemnification claim to the extent then known and (ii) the amount of
Losses suffered by the Indemnified Party in connection with the claim to the
extent known or reasonably estimable (provided, that the Parent may thereafter
in good faith adjust the amount of Losses with respect to the claim by providing
a revised Claim Notice to the Seller). 

(c)      In the case of any claim for indemnification
under this Article VII arising from a claim of a third party (including
any Governmental Authority) (a “Third Party Claim”), the Parent
must give a Claim Notice with respect to such Third Party Claim to the Seller
promptly (but in no event later than thirty (30) days) after the Indemnified
Party’s receipt of notice of such Third Party Claim; provided, that the
failure to give such notice will not relieve the Indemnifying Party of its
indemnification obligations except to the extent that the defense of such Third
Party Claim is materially and irrevocably prejudiced by the failure to give such
notice. The Seller will have the right to defend and to direct the defense
against any such Third Party Claim, at its expense and with counsel selected by
the Seller, unless (i) the Seller fails to acknowledge fully to the Parent the
obligations of the Indemnifying Party to the Indemnified Party within twenty
(20) days after receiving notice of such Third Party Claim or contests, in whole
or in part, its indemnification obligations therefor or (ii) at any time while
such Third Party Claim is pending, (A) there is a conflict of interest between
the Seller on behalf of the Indemnifying Party and the Parent on behalf of the
Indemnified Party in the conduct of such defense, (B) the applicable third party
alleges a Fraud Claim or (C) such claim is criminal in nature, could reasonably
be expected to lead to criminal proceedings, or seeks an injunction or other
equitable relief against the Indemnified Party. If the Seller on behalf of the
Indemnifying Party elects, and is entitled, to compromise or defend such Third
Party Claim, it will within twenty (20) days (or sooner, if the nature of the
Third Party Claim so requires) notify the Parent of its intent to do so, and the
Parent and the Indemnified Party will, at the request and expense of the Seller,
cooperate in the defense of such Third Party Claim. If the Seller on behalf of
the Indemnifying Party elects not to, or at any time is not entitled under this
Section 7.4 to, compromise or defend such Third Party Claim, fails to
notify the Parent of its election as herein provided or refuses to acknowledge
or contests its obligation to indemnify under this Agreement, the Parent on
behalf of the Indemnified Party may pay, compromise or defend such Third Party
Claim. Notwithstanding anything to the contrary contained herein, the
Indemnifying Party will have no indemnification obligations with respect to any
such Third Party Claim which is settled by the Indemnified Party or the Parent
without the prior written consent of the Seller on behalf of the Indemnifying
Party (which consent will not be unreasonably withheld, delayed or conditioned);
provided, however, that notwithstanding the foregoing, the
Indemnified Party will not be required to refrain from paying any Third Party
Claim which has matured by a final, non-appealable Order, nor will it be
required to refrain from paying any Third Party Claim where the delay in paying
such claim would result in the foreclosure of a Lien upon any of the property or
assets then held by the Indemnified Party or where any delay in payment would
cause the Indemnified Party material economic loss. The Seller’s right on behalf
of the Indemnifying Party to direct the defense will include the right to
compromise or enter into an agreement settling any Third Party Claim;
provided, that no such compromise or settlement will obligate the
Indemnified Party to agree to any settlement that that requires the taking or restriction of
any action (including the payment of money and competition restrictions) by the
Indemnified Party other than the execution of a release for such Third Party
Claim and/or agreeing to be subject to customary confidentiality obligations in
connection therewith, except with the prior written consent of the Parent on
behalf of the Indemnified Party (such consent to be withheld, conditioned or
delayed only for a good faith reason). Notwithstanding the Seller’s right on
behalf of the Indemnifying Party to compromise or settle in accordance with the
immediately preceding sentence, the Seller on behalf of the Indemnifying Party
may not settle or compromise any Third Party Claim over the objection of the
Parent on behalf of the Indemnified Party; provided, however, that consent by
the Parent on behalf of the Indemnified Party to settlement or compromise will
not be unreasonably withheld, delayed or conditioned. The Parent on behalf of
the Indemnified Party will have the right to participate in the defense of any
Third Party Claim with counsel selected by it subject to the Seller’s right on
behalf of the Indemnifying Party to direct the defense. 

36 

(d)      With respect to any direct indemnification
  claim that is not a Third Party Claim, the Seller on behalf of the Indemnifying
  Party will have a period of thirty (30) days after receipt of the Claim Notice
  to respond thereto. If the Seller on behalf of the Indemnifying Party does not
  respond within such thirty (30) days, the Seller on behalf of the Indemnifying
  Party will be deemed to have accepted responsibility for the Losses set forth in
  such Claim Notice subject to the limitations on indemnification set forth in
  this Article VII and will have no further right to contest the validity
  of such Claim Notice. If the Seller on behalf of the Indemnifying Party responds
  within such thirty (30) days after the receipt of the Claim Notice and rejects
  such claim in whole or in part, the Parent on behalf of the Indemnified Party
  will be free to pursue such remedies as may be available under this Agreement
  (subject to Section 11.4), any Ancillary Documents or applicable Law.

ARTICLE VIII 
CLOSING CONDITIONS

 8.1      Conditions to Each Party’s Obligations. The
obligations of each Party to consummate the transactions described herein shall
be subject to the satisfaction or written waiver (where permissible) by the
Company, the Parent and the Purchaser of the following conditions: 

(a)      Consummation of Other Transactions. The
transactions contemplated by (i) the share exchange agreement, dated August 8,
2018, by and among the Parent, Si Chen and certain of Parent’s subsidiaries and
(ii) the amended and restated securities purchase agreement, dated August 8,
2018, by and among the Company and Yimin Jin and Hongxiang Yu shall have been
approved by the requisite vote of the shareholders of the Parent at the 2018
annual meeting of shareholders in accordance with the terms of the proxy
statement filed with the U.S. Securities and Exchange Commission and mailed to
Parent’s shareholders in connection therewith. 

(b)      Requisite Regulatory Approvals. All
Consents required to be obtained from or made with any Governmental Authority in
order to consummate the transactions contemplated by this Agreement, shall have
been obtained or made.

(c)      Requisite Consents. The Consents
required to be obtained from or made with any third Person (other than a
Governmental Authority) in order to consummate the transactions contemplated by
this Agreement as set forth in Schedule 8.1(c) shall have each been
obtained or made. 

(d)      No Law. No Governmental Authority shall
have enacted, issued, promulgated, enforced or entered any Law (whether
temporary, preliminary or permanent) or Order that is then in effect and which
has the effect of making the transactions or agreements contemplated by this
Agreement illegal or which otherwise prevents or prohibits consummation
of the transactions contemplated by this Agreement. 

37 

(e)      No Litigation. There shall not be any
  pending Action brought by a third-party non-Affiliate to enjoin or otherwise
restrict the consummation of the Closing. 

 8.2      Conditions to Obligations of the Company
and the Seller. In addition to the conditions specified in Section
8.1, the obligations of the Company and the Seller to consummate the
transactions contemplated by this Agreement are subject to the satisfaction or
written waiver (by the Company) of the following conditions: 

(a)      Representations and Warranties. All of
the representations and warranties of the Purchaser and the Parent set forth in
this Agreement and in any certificate delivered by the Purchaser or the Parent
pursuant hereto shall be true and correct on and as of the date of this
Agreement and on and as of the Closing Date as if made on the Closing Date,
except for (i) those representations and warranties that address matters only as
of a particular date (which representations and warranties shall have been
accurate as of such date), and (ii) any failures to be true and correct that do
not materially and adversely affect the Purchaser’s or the Parent’s ability to
consummate the transactions contemplated hereby. 

(b)      Agreements and Covenants. The Purchaser
and the Parent shall have performed in all material respects all of the
Purchaser’s and the Parent’s, respectively, obligations and complied in all
material respects with all of the Purchaser’s and Parent’s agreements and
covenants under this Agreement to be performed or complied with by the Purchaser
or Parent on or prior to the Closing Date. 

(c)      No Material Adverse Effect. No Material
Adverse Effect shall have occurred with respect to the Purchaser or the Parent
(excluding the Subsidiaries of the Purchaser or the Parent (other than the
Purchaser)) since the date of this Agreement. 

(d)      Closing Deliveries. 

(i)      Officer Certificate. The Parent shall
have delivered to the Company a certificate, dated the Closing Date, signed by
an executive officer of the Parent in such capacity, certifying as to the
satisfaction of the conditions specified in Sections 8.2(a),
8.2(b) and 8.2(c). 

(ii)      Secretary Certificate. The Parent
shall have delivered to the Company a certificate from its secretary certifying
as to (A) copies of the Parent’s Organizational Documents as in effect as of the
Closing Date, (B) the resolutions of the Parent’s board of directors authorizing
the execution, delivery and performance of this Agreement and each of the
Ancillary Documents to which it is a party or by which it is bound, and the
consummation of the transactions contemplated hereby and thereby and (C) the
incumbency of officers authorized to execute this Agreement or any Ancillary
Document to which the Parent is or is required to be a party or otherwise bound.

(e)      Effectiveness of Certain Ancillary
Documents.

(i)      Non-Competition Agreements. The
Non-Competition and Non-Solicitation Agreements to be entered into by Seller and
the other Subject Parties thereto (as defined therein) in favor of and for the
benefit of the Parent and Purchaser, the Company and each of the other Covered
Parties (as defined therein) (each, a “Non-Competition
Agreement”), the form of which is attached as Exhibit A hereto,
shall be duly executed and delivered and in full force and effect in accordance
with the terms thereof as of the Closing. 

38 

(ii)      Lock-Up Agreement. The Lock-Up
Agreement to be entered into by and among the Seller and the Parent (the
“Lock-Up Agreement”), the form of which is attached as Exhibit
B hereto, shall be duly executed and delivered and in full force and effect
in accordance with the terms thereof as of the Closing. 

 8.3      Conditions to Obligations of the Purchaser
and the Parent. In addition to the conditions specified in Section
8.1, the obligations of the Purchaser and the Parent to consummate the
transactions contemplated by this Agreement are subject to the satisfaction or
written waiver (by the Purchaser and the Parent, respectively) of the following
conditions: 

(a)      Representations and Warranties. All of
the representations and warranties of the Company and the Seller set forth in
this Agreement and in any certificate delivered by the Company or Seller
pursuant hereto shall be true and correct on and as of the date of this
Agreement and on and as of the Closing Date as if made on the Closing Date,
except for (i) those representations and warranties that address matters only as
of a particular date (which representations and warranties shall have been
accurate as of such date), and (ii) any failures to be true and correct that
(without giving effect to any qualifications or limitations as to materiality or
Material Adverse Effect), individually or in the aggregate, have not had and
would not reasonably be expected to have a Material Adverse Effect on, or with
respect to, any Target Company or adversely affects the Company’s or Seller’s
ability to consummate the transactions contemplated hereby.

(b)      Agreements and Covenants. The Company
and Seller shall have performed in all material respects all of such Party’s
obligations and complied in all material respects with all of such Party’s
agreements and covenants under this Agreement to be performed or complied with
by it on or prior to the Closing Date. 

(c)      No Material Adverse Effect. No Material
Adverse Effect shall have occurred with respect to any Target Company since the
date of this Agreement. 

(d)      Closing Deliveries.

(i)      Officer Certificate. The Purchaser and
the Parent shall have received a certificate from the Company, dated as the
Closing Date, signed by an executive officer of the Company in such capacity,
certifying as to the satisfaction of the conditions specified in Sections
8.3(a), 8.3(b) and 8.3(c). 

(ii)      Seller Certificate. The Purchaser and
the Parent shall have received a certificate from Seller, dated as of the
Closing Date, signed by Seller, certifying as to the satisfaction of the
conditions specified in Sections 8.3(a) and 8.3(b) with respect to
Seller.

(iii)      Secretary Certificate. The Company
shall have delivered to the Purchaser and the Parent a certificate from its
secretary certifying as to (A) copies of the Company’s Organizational Documents
as in effect as of the Closing Date, (B) the resolutions of the Company’s board
of directors and shareholders authorizing the execution, delivery and
performance of this Agreement and each of the Ancillary Documents to which it is
a party or by which it is bound, and the consummation of the transactions
contemplated hereby and thereby, and (C) the incumbency of officers authorized
to execute this Agreement or any Ancillary Document to which the Company is or
is required to be a party or otherwise bound. 

(iv)      Good Standing. The Company shall have
delivered to the Purchaser and the Parent good standing certificates (or similar
documents applicable for such jurisdictions) for each Target Company certified as of a date no later than five (5)
days prior to the Closing Date from the proper Governmental Authority of the
Target Company’s jurisdiction of organization and from each other jurisdiction
in which the Target Company is qualified to conduct business as a foreign
corporation or other entity as of the Closing, in each case to the extent that
good standing certificates or similar documents are generally available in such
jurisdictions. 

39 

  (v)      Certified Charter. A copy of the
  Company Charter, as in effect as of the Closing, certified by the appropriate
  Governmental Authority as of a date no more than ten (10) Business Days prior to
the Closing Date. 

(vi)      [Intentionally Omitted] (vii)
[Intentionally Omitted]

(viii)      Share Certificates and Transfer
Instruments. The Purchaser shall have received from Seller share
certificates representing the Purchased Shares (or duly executed affidavits of
lost stock certificates and indemnities in forms and substance reasonably
acceptable to the Purchaser), together with executed instruments of transfer in
respect of the Purchased Shares in favor of the Purchaser (or its nominee) and
in form reasonably acceptable for transfer on the books of the Company. 

(ix)      Board Resolutions. The Purchaser and
the Parent shall have received duly executed written resolutions of the board of
directors of the Company, in the agreed form, approving: the transfer of the
Purchased Shares to the Purchaser (or its nominee) at Closing; and the
appointment of such persons as directors and/or officers of the Company as the
Parent may request prior to Closing.

(x)      Effectiveness of Certain Ancillary
Documents. Each of the Non-Competition Agreements and the Lock-Up Agreement
shall be duly executed and delivered and in full force and effect in accordance
with the terms thereof as of the Closing. 

 8.4      Frustration of Conditions.
Notwithstanding anything contained herein to the contrary, no Party may rely on
the failure of any condition set forth in this Article VIII to be
satisfied if such failure was caused by the failure of such Party or its
Affiliates (or with respect to the Company, Seller) to comply with or perform
any of its covenants or obligations set forth in this Agreement. 

ARTICLE IX 
TERMINATION AND EXPENSES

 9.1      Termination. This Agreement may be
terminated and the transactions contemplated hereby may be abandoned at any time
prior to the Closing as follows: 

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

(b)      by written notice by the Purchaser, the Parent
or the Company if any of the conditions to the Closing set forth in Article
VIII have not been satisfied or waived by the six (6) month anniversary of
the date of this Agreement (the “Outside Date”); provided,
however, the right to terminate this Agreement under this Section
9.1(b) shall not be available to a Party if the breach or violation by such
Party or its Affiliates (or with respect to the Company, the Seller) of any
representation, warranty, covenant or obligation under this Agreement was the
cause of, or resulted in, the failure of the Closing to occur on or before the
Outside Date; 

40 

(c)      by written notice by either the Purchaser, the
Parent or the Company if a Governmental Authority of competent jurisdiction
shall have issued an Order or taken any other action permanently restraining,
enjoining or otherwise prohibiting the transactions contemplated by this
Agreement, and such Order or other action has become final and non-appealable;
provided, however, that the right to terminate this Agreement
pursuant to this Section 9.1(c) shall not be available to a Party if the
failure by such Party or its Affiliates (or with respect to the Company, the
Seller) to comply with any provision of this Agreement has been a substantial
cause of, or substantially resulted in, such action by such Governmental
Authority; 

(d)      by written notice by the Company, if (i) there
has been a breach by the Purchaser or the Parent of any of its representations,
warranties, covenants or agreements contained in this Agreement, or if any
representation or warranty of the Purchaser or the Parent shall have become
untrue or inaccurate, in any case, which would result in a failure of a
condition set forth in Section 8.2(a) or Section 8.2(b) to be
satisfied (treating the Closing Date for such purposes as the date of this
Agreement or, if later, the date of such breach), and (ii) the breach or
inaccuracy is incapable of being cured or is not cured within the earlier of (A)
twenty (20) days after written notice of such breach or inaccuracy is provided
by the Company or (B) the Outside Date; 

(e)      by written notice by the Purchaser or the
Parent, if (i) there has been a breach by the Company or the Seller of any of
their respective representations, warranties, covenants or agreements contained
in this Agreement, or if any representation or warranty of such Parties shall
have become untrue or inaccurate, in any case, which would result in a failure
of a condition set forth in Section 8.3(a) or Section 8.3(b) to be
satisfied (treating the Closing Date for such purposes as the date of this
Agreement or, if later, the date of such breach), and (ii) the breach or
inaccuracy is incapable of being cured or is not cured within the earlier of (A)
twenty (20) days after written notice of such breach or inaccuracy is provided
by the Purchaser or the Parent or (B) the Outside Date; or (f) by written notice
by the Purchaser or the Parent if there shall have been a Material Adverse
Effect on the Target Companies following the date of this Agreement which is
uncured and continuing.

 9.2      Effect of Termination. This Agreement
may only be terminated in the circumstances described in Section 9.1 and
pursuant to a written notice delivered by the applicable Party to the other
applicable Parties, which sets forth the basis for such termination, including
the provision of Section 9.1 under which such termination is made. In the
event of the valid termination of this Agreement pursuant to Section 9.1,
this Agreement shall forthwith become void, and there shall be no Liability on
the part of any Party or any of their respective Representatives, and all rights
and obligations of each Party shall cease, except: (i) Sections 6.11,
6.13, 9.3, 9.4, Article XI and this Section
9.2 shall survive the termination of this Agreement, and (ii) nothing herein
shall relieve any Party from Liability for any willful breach of any
representation, warranty, covenant or obligation under this Agreement or any
Fraud Claim against such Party, in either case, prior to termination of this
Agreement (in each case of clauses (i) and (ii) above). Without limiting the
foregoing, and except as provided in Sections 9.3 and 9.4 and this
Section 9.2, the Parties’ sole right prior to the Closing with
respect to any breach of any representation, warranty, covenant or other
agreement contained in this Agreement by another Party or with respect to the
transactions contemplated by this Agreement shall be the right, if applicable,
to terminate this Agreement pursuant to Section 9.1. 

 9.3      Fees and Expenses. Subject to
Section 9.4, all Expenses incurred in connection with this Agreement and
the transactions contemplated hereby shall be paid by the Party incurring such
expenses. As used in this Agreement, “Expenses” shall include all
out-of-pocket expenses (including all fees and expenses of counsel, accountants,
investment bankers, financial advisors, financing sources, experts and consultants to a Party hereto or any of its Affiliates)
incurred by a Party or on its behalf in connection with or related to the
authorization, preparation, negotiation, execution or performance of this
Agreement or any Ancillary Document related hereto and all other matters related
to the consummation of this Agreement.

41 

 9.4      Termination Fee. Notwithstanding
  Section 9.3 above, in the event that there is a termination of this
  Agreement (a) by the Purchaser or the Parent pursuant to Section 9.1(e)
  or Section 9.1(f) or (b) by the Company pursuant to Section
    9.1(d), the breaching Party shall pay to the other Party a termination fee
  equal to the Expenses actually incurred by or on behalf of such other Party or
  any of its Affiliates in connection with the authorization, preparation,
  negotiation, execution or performance of this Agreement or the transactions
  contemplated hereby, including any related SEC filings (the “Termination
    Fee”). The Termination Fee shall be paid by wire transfer of immediately
  available funds to an account designated in writing by the Purchaser or the
  Company, respectively, within ten (10) Business Days after such Party delivers
  to the other Party the amount of such Expenses, along with reasonable
  documentation in connection therewith. Notwithstanding anything to the contrary
  in this Agreement, the Parties expressly acknowledge and agree that, with
  respect to any termination of this Agreement in circumstances where the
  Termination Fee is payable, the payment of the Termination Fee shall, in light
  of the difficulty of accurately determining actual damages, constitute
  liquidated damages with respect to any claim for damages or any other claim
  which any Party would otherwise be entitled to assert against the other Party or
  its Affiliates or any of their respective assets, or against any of their
  respective directors, officers, employees or shareholders with respect to this
  Agreement and the transactions contemplated hereby and shall constitute the sole
  and exclusive remedy available to the Parties, provided, that the
  foregoing shall not limit the rights of any Party to seek specific performance
or other injunctive relief in lieu of terminating this Agreement.

ARTICLE X 
RELEASES

 10.1      Release and Covenant Not to Sue.
Effective as of the Closing, to the fullest extent permitted by applicable Law,
Seller, on behalf of itself and its Affiliates and any Person that owns any
share or other equity interest in or of Seller (the “Releasing
Persons”), hereby releases and discharges the Target Companies from and
against any and all Actions, obligations, agreements, debts and Liabilities
whatsoever, whether known or unknown, both at law and in equity, which such
Releasing Person now has, has ever had or may hereafter have against the Target
Companies arising on or prior to the Closing Date or on account of or arising
out of any matter occurring on or prior to the Closing Date, including any
rights to indemnification or reimbursement from a Target Company, whether
pursuant to its Organizational Documents, Contract or otherwise, and whether or
not relating to claims pending on, or asserted after, the Closing Date. From and
after the Closing, each Releasing Person hereby irrevocably covenants to refrain
from, directly or indirectly, asserting any Action, or commencing or causing to
be commenced, any Action of any kind against the Target Companies or their
respective Affiliates, based upon any matter purported to be released hereby.
Notwithstanding anything herein to the contrary, the releases and restrictions
set forth herein shall not apply to any claims a Releasing Person may have
against any party other than the Company pursuant to the terms and conditions of
this Agreement or any Ancillary Document. 

ARTICLE XI 
MISCELLANEOUS 

 11.1      Notices. All notices, consents,
waivers and other communications hereunder shall be in writing and shall be
deemed to have been duly given when delivered (i) in person, (ii) by facsimile
or other electronic means, with affirmative confirmation of receipt, (iii) one
Business Day after being sent, if sent by reputable, nationally recognized overnight courier
service or (iv) three (3) Business Days after being mailed, if sent by
registered or certified mail, pre-paid and return receipt requested, in each
case to the applicable Party at the following addresses (or at such other
address for a Party as shall be specified by like notice): 

42 

	If to the Company, to: 	If to Parent, to 
	 	 
	Taishan Muren Agriculture Co. Ltd. 	American Lorain Corporation
      
BeihuanZhong Road 
Junan County, Shandong 
People’s Republic of
      China 276600 
Telephone No.: (86) 539-7317959 
	 
	No. 216, Nanfeng village 
	  
	Haiyan overseas Chinese farm 
	 
	Taishan,Guangdong 
	Attention: Yongjun Huang 	  
	  	  
	  	With copies to (which shall not
      constitute 
	  	notice): 
	 	 
	  	Ellenoff Grossman & Schole LLP 
	  	1345 Avenue of the Americas, 11th Floor 
	  	New York, New York 10105 
	  	Attention: Ari Edelman 
	  	Facsimile No.: (212) 370-7889 
	  	Telephone No.: (212) 370-1300 
	  	Email:
      aedelman@egsllp.com 
	  	  
	If to Seller, to: 	If to Purchaser, to 
	 	 
	Taishan Muren Agriculture Co. Ltd. 	Shanghai Xunyang Internet Technology Co.,

	No. 216 Nanfeng County, Taishan City 	Ltd. 
	Attention: Yongjun Huang 	 
		Room 405F 
	 	 
	  	567 Tian Yao Qiao Road 
	 	 
	  	Xuhui District, Shanghai 
	 	 
	  	With copies to (which shall not constitute
  
	  	notice): 
	 	 
	  	Ellenoff Grossman & Schole LLP 
	  	1345 Avenue of the Americas, 11th Floor 
	  	New York, New York 10105 
	  	Attention: Ari Edelman 
	  	Facsimile No.: (212) 370-7889 
	  	Telephone No.: (212) 370-1300 
	  	Email:
      aedelman@egsllp.com 

 11.2      Binding Effect; Assignment. This
Agreement and all of the provisions hereof shall be binding upon and inure to
the benefit of the Parties hereto and their respective successors and permitted
assigns. This Agreement shall not be assigned by operation of Law or otherwise
without the prior written consent of the Purchaser, the Parent and the Company,
and any assignment without such consent shall be null and void; provided
that no such assignment shall relieve the assigning Party of its obligations
hereunder. 

43 

 11.3      Third Parties. Nothing contained in
this Agreement or in any instrument or document executed by any party in
connection with the transactions contemplated hereby shall create any rights in,
or be deemed to have been executed for the benefit of, any Person that is not a
Party hereto or thereto or a successor or permitted assign of such a Party. 

 11.4      Arbitration. Any and all disputes,
controversies and claims (other than applications for a temporary restraining
order, preliminary injunction, permanent injunction or other equitable relief or
application for enforcement of a resolution under this Section 11.4)
arising out of, related to, or in connection with this Agreement or the
transactions contemplated hereby (a “Dispute”) shall be governed
by this Section 11.4. A party must, in the first instance, provide
written notice of any Disputes to the other parties subject to such Dispute,
which notice must provide a reasonably detailed description of the matters
subject to the Dispute. The parties involved in such Dispute shall seek to
resolve the Dispute on an amicable basis within ten (10) Business Days of the
notice of such Dispute being received by such other parties subject to such
Dispute (the “Resolution Period”); provided, that if any
Dispute would reasonably be expected to have become moot or otherwise irrelevant
if not decided within sixty (60) days after the occurrence of such Dispute, then
there shall be no Resolution Period with respect to such Dispute. Any Dispute
that is not resolved during the Resolution Period may immediately be referred to
and finally resolved by arbitration pursuant to the then-existing Expedited
Procedures of the Commercial Arbitration Rules (the “AAA
Procedures”) of the American Arbitration Association (the
“AAA”). Any party involved in such Dispute may submit the Dispute
to the AAA to commence the proceedings after the Resolution Period. To the
extent that the AAA Procedures and this Agreement are in conflict, the terms of
this Agreement shall control. The arbitration shall be conducted by one
arbitrator nominated by the AAA promptly (but in any event within five (5)
Business Days) after the submission of the Dispute to the AAA and reasonably
acceptable to each party subject to the Dispute, which arbitrator shall be a
commercial lawyer with substantial experience arbitrating disputes under
acquisition agreements. The arbitrator shall accept his or her appointment and
begin the arbitration process promptly (but in any event within five (5)
Business Days) after his or her nomination and acceptance by the parties subject
to the Dispute. The proceedings shall be streamlined and efficient. The
arbitrator shall decide the Dispute in accordance with the substantive law of
the state of New York. Time is of the essence. Each party shall submit a
proposal for resolution of the Dispute to the arbitrator within twenty (20) days
after confirmation of the appointment of the arbitrator. The arbitrator shall
have the power to order any party to do, or to refrain from doing, anything
consistent with this Agreement, the Ancillary Documents and applicable Law,
including to perform its contractual obligation(s); provided, that the
arbitrator shall be limited to ordering pursuant to the foregoing power (and,
for the avoidance of doubt, shall order) the relevant party (or parties, as
applicable) to comply with only one or the other of the proposals. The
arbitrator’s award shall be in writing and shall include a reasonable
explanation of the arbitrator’s reason(s) for selecting one or the other
proposal. The seat of arbitration shall be in New York County, State of New
York. The language of the arbitration shall be English. 

 11.5      Governing Law; Jurisdiction. This
Agreement shall be governed by, construed and enforced in accordance with the
Laws of the State of New York without regard to the conflict of laws principles
thereof. Subject to Section 11.4, all Actions arising out of or relating
to this Agreement shall be heard and determined exclusively in any state or
federal court located in New York, New York (or in any court in which appeal
from such courts may be taken) (the “Specified Courts”). Subject
to Section 11.4, each Party hereto hereby (a) submits to the
exclusive jurisdiction of any Specified Court for the purpose of any Action
arising out of or relating to this Agreement brought by any Party hereto and (b)
irrevocably waives, and agrees not to assert by way of motion, defense or
otherwise, in any such Action, any claim that it is not subject personally to
the jurisdiction of the above-named courts, that its property is exempt or
immune from attachment or execution, that the Action is brought in an
inconvenient forum, that the venue of the Action is improper, or that this
Agreement or the transactions contemplated hereby may not be enforced in or by
any Specified Court. Each Party agrees that a final judgment in any Action shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by Law.
Each Party irrevocably consents to the service of the summons and complaint and
any other process in any other action or proceeding relating to the transactions
contemplated by this Agreement, on behalf of itself, or its property, by
personal delivery of copies of such process to such Party at the applicable
address set forth in Section 11.1. Nothing in this Section 11.5 shall affect the right of any Party to serve legal process in any other manner
permitted by Law. 

44 

 11.6      WAIVER OF
  JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO
  THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL
  BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER
  OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.
  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS
  REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE
  EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (B) ACKNOWLEDGES
  THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
  AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION 11.6. 

 11.7      Specific Performance. Each Party
acknowledges that the rights of each Party to consummate the transactions
contemplated hereby are unique, recognizes and affirms that in the event of a
breach of this Agreement by any Party, money damages may be inadequate and the
non-breaching Parties may have not adequate remedy at law, and agree that
irreparable damage would occur in the event that any of the provisions of this
Agreement were not performed by an applicable Party in accordance with their
specific terms or were otherwise breached. Accordingly, each Party shall be
entitled to seek an injunction or restraining order to prevent breaches of this
Agreement and to seek to enforce specifically the terms and provisions hereof,
without the requirement to post any bond or other security or to prove that
money damages would be inadequate, this being in addition to any other right or
remedy to which such Party may be entitled under this Agreement, at law or in
equity. 

 11.8      Severability. In case any provision in
this Agreement shall be held invalid, illegal or unenforceable in a
jurisdiction, such provision shall be modified or deleted, as to the
jurisdiction involved, only to the extent necessary to render the same valid,
legal and enforceable, and the validity, legality and enforceability of the
remaining provisions hereof shall not in any way be affected or impaired thereby
nor shall the validity, legality or enforceability of such provision be affected
thereby in any other jurisdiction. Upon such determination that any term or
other provision is invalid, illegal or incapable of being enforced, the Parties
will substitute for any invalid, illegal or unenforceable provision a suitable
and equitable provision that carries out, so far as may be valid, legal and
enforceable, the intent and purpose of such invalid, illegal or unenforceable
provision. 

 11.9      Amendment. This Agreement may be
amended, supplemented or modified only by execution of a written instrument
signed by the Purchaser, the Parent and the Company. 

 11.10      Waiver. The Parent on behalf of
itself and its Affiliates, on the one hand, and the Company on behalf of itself
and its Affiliates, may in its sole discretion (i) extend the time for the
performance of any obligation or other act of any other non-Affiliated Party
hereto, (ii) waive any inaccuracy in the representations and warranties by such
other non-Affiliated Party contained herein or in any document delivered
pursuant hereto and (iii) waive compliance by such other non-Affiliated Party
with any covenant or condition contained herein. Any such extension or waiver
shall be valid only if set forth in an instrument in writing signed by the Party
or Parties to be bound thereby. Notwithstanding the foregoing, no failure or
delay by a Party in exercising any right hereunder shall operate as a waiver
thereof nor shall any single or partial exercise thereof
preclude any other or further exercise of any other right hereunder.

45 

 11.11      Entire Agreement. This Agreement and
  the documents or instruments referred to herein, including any exhibits and
  schedules attached hereto, which exhibits and schedules are incorporated herein
  by reference, together with the Ancillary Documents, embody the entire agreement
  and understanding of the Parties hereto in respect of the subject matter
  contained herein. There are no restrictions, promises, representations,
  warranties, covenants or undertakings, other than those expressly set forth or
  referred to herein or the documents or instruments referred to herein, which
  collectively supersede all prior agreements and the understandings among the
Parties with respect to the subject matter contained herein.

 11.12      Interpretation. The table of contents
and the Article and Section headings contained in this Agreement are solely for
the purpose of reference, are not part of the agreement of the Parties and shall
not in any way affect the meaning or interpretation of this Agreement. In this
Agreement, unless the context otherwise requires: (a) any pronoun used in this
Agreement shall include the corresponding masculine, feminine or neuter forms,
and words in the singular, including any defined terms, include the plural and
vice versa; (b) reference to any Person includes such Person’s successors and
assigns but, if applicable, only if such successors and assigns are permitted by
this Agreement, and reference to a Person in a particular capacity excludes such
Person in any other capacity; (c) any accounting term used and not otherwise
defined in this Agreement or any Ancillary Document has the meaning assigned to
such term in accordance with GAAP; (d) “including” (and with correlative meaning
“include”) means including without limiting the generality of any description
preceding or succeeding such term and shall be deemed in each case to be
followed by the words “without limitation”; (e) the words “herein,” “hereto,”
and “hereby” and other words of similar import in this Agreement shall be deemed
in each case to refer to this Agreement as a whole and not to any particular
Section or other subdivision of this Agreement; (f) the word “if” and other
words of similar import when used herein shall be deemed in each case to be
followed by the phrase “and only if”; (g) the term “or” means “and/or”; (h) any
reference to the term “ordinary course” or “ordinary course of business” shall
be deemed in each case to be followed by the words “consistent with past
practice”; (i) any agreement, instrument, insurance policy, Law or Order defined
or referred to herein or in any agreement or instrument that is referred to
herein means such agreement, instrument, insurance policy, Law or Order as from
time to time amended, modified or supplemented, including (in the case of
agreements or instruments) by waiver or consent and (in the case of statutes,
regulations, rules or orders) by succession of comparable successor statutes,
regulations, rules or orders and references to all attachments thereto and
instruments incorporated therein; (j) except as otherwise indicated, all
references in this Agreement to the words “Section,” “Article”, “Schedule”, and
“Exhibit” are intended to refer to Sections, Articles, Schedules and Exhibits to
this Agreement; and (k) the term “Dollars” or “$” means United States dollars.
Any reference in this Agreement to a Person’s directors shall include any member
of such Person’s governing body and any reference in this Agreement to a
Person’s officers shall include any Person filling a substantially similar
position for such Person. Any reference in this Agreement or any Ancillary
Document to a Person’s shareholders shall include any applicable owners of the
equity interests of such Person, in whatever form, including with respect to the
Parent its shareholders under the NRS or its Organizational Documents. The
Parties have participated jointly in the negotiation and drafting of this
Agreement. Consequently, in the event an ambiguity or question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly
by the Parties hereto, and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any provision
of this Agreement. To the extent that any Contract, document, certificate or
instrument is represented and warranted to by the Company to be given,
delivered, provided or made available by the Company, in order for such
Contract, document, certificate or instrument to have been deemed to have been
given, delivered, provided and made available to the Parent or its
Representatives, such Contract, document, certificate or instrument shall have
been posted to the electronic data site maintained on behalf of the Company for
the benefit of the Parent and its Representatives and the Parent and its
Representatives have been given access to the electronic folders containing such
information. 

46 

 11.13      Counterparts. This Agreement may be
  executed and delivered (including by facsimile or other electronic transmission)
  in one or more counterparts, and by the different Parties hereto in separate
  counterparts, each of which when executed shall be deemed to be an original but
all of which taken together shall constitute one and the same agreement. 

ARTICLE XII 
DEFINITIONS

 12.1      Certain Definitions. For purpose of
this Agreement, the following capitalized terms have the following meanings:

 
“Action” means any notice of noncompliance or violation, or any
claim, demand, charge, action, suit, litigation, audit, settlement, complaint,
stipulation, assessment or arbitration, or any request (including any request
for information), inquiry, hearing, proceeding or investigation, by or before
any Governmental Authority. 

“Affiliate”
means, with respect to any Person, any other Person directly or indirectly
Controlling, Controlled by, or under common Control with such Person.

“Ancillary
Documents” means each agreement, instrument or document attached hereto
as an Exhibit, including the Non-Competition Agreements and the Lock-Up
Agreement and the other agreements, certificates and instruments to be executed
or delivered by any of the Parties in connection with or pursuant to this
Agreement. 

“Benefit
Plans” of any Person means any and all deferred compensation, executive
compensation, incentive compensation, equity purchase or other equity-based
compensation plan, employment or consulting, severance or termination pay,
holiday, vacation or other bonus plan or practice, hospitalization or other
medical, life or other insurance, supplemental unemployment benefits, profit
sharing, pension, or retirement plan, program, agreement, commitment or
arrangement, and each other employee benefit plan, program, agreement or
arrangement, including each “employee benefit plan” as such term is defined
under Section 3(3) of ERISA, maintained or contributed to or required to be
contributed to by a Person for the benefit of any employee or terminated
employee of such Person, or with respect to which such Person has any Liability,
whether direct or indirect, actual or contingent, whether formal or informal,
and whether legally binding or not. 

“Business
Day” means any day other than a Saturday, Sunday or a legal holiday on
which commercial banking institutions in New York, New York are authorized to
close for business. 

“Code”
means the Internal Revenue Code of 1986, as amended, and any successor statute
thereto, as amended. Reference to a specific section of the Code shall include
such section and any valid treasury regulation promulgated thereunder. 

“Company
Charter” means the memorandum and articles of association of the
Company, as amended and effective under applicable Laws. 

“Company
Confidential Information” means all confidential or proprietary
documents and information concerning the Target Companies or the Seller or any
of their respective Representatives, furnished in connection with this Agreement or the transactions
contemplated hereby; provided, however, that Company Confidential
Information shall not include any information which, (i) at the time of
disclosure by the Purchaser, the Parent or their Representatives, is generally
available publicly and was not disclosed in breach of this Agreement or (ii) at
the time of the disclosure by the Company, the Seller or their respective
Representatives to the Purchaser, the Parent or their Representatives was
previously known by such receiving party without violation of Law or any
confidentiality obligation by the Person receiving such Company Confidential
Information. 

47 

“Company Ordinary
Shares” means the shares of par value $1.00 each in the Company. 

 
“Consent” means any consent, approval, waiver, authorization or
Permit of, or notice to or declaration or filing with any Governmental Authority
or any other Person. 

“Contracts”
means all contracts, agreements, binding arrangements, bonds, notes, indentures,
mortgages, debt instruments, purchase order, licenses (and all other contracts,
agreements or binding arrangements concerning Intellectual Property),
franchises, leases and other instruments or obligations of any kind, written or
oral (including any amendments and other modifications thereto). 

“Control”
of a Person means the possession, directly or indirectly, of the power to direct
or cause the direction of the management and policies of such Person, whether
through the ownership of voting securities, by contract, or otherwise.
“Controlled”, “Controlling” and “under common Control with” have correlative
meanings. Without limiting the foregoing a Person (the “Controlled
Person”) shall be deemed Controlled by (a) any other Person (the
“10% Owner”) (i) owning beneficially, as meant in Rule 13d-3 under
the Exchange Act, securities entitling such Person to cast ten percent (10%) or
more of the votes for election of directors or equivalent governing authority of
the Controlled Person or (ii) entitled to be allocated or receive ten percent
(10%) or more of the profits, losses, or distributions of the Controlled Person;
(b) an officer, director, general partner, partner (other than a limited
partner), manager, or member (other than a member having no management authority
that is not a 10% Owner) of the Controlled Person; or (c) a spouse, parent,
lineal descendant, sibling, aunt, uncle, niece, nephew, mother-in-law,
father-in-law, sister-in-law, or brother-in-law of an Affiliate of the
Controlled Person or a trust for the benefit of an Affiliate of the Controlled
Person or of which an Affiliate of the Controlled Person is a trustee. 

“Copyrights” means any works of authorship, mask works and all
copyrights therein, including all renewals and extensions, copyright
registrations and applications for registration and renewal, and non-registered
copyrights. 

“Environmental
Law” means any Law in any way relating to (a) the protection of human
health and safety, (b) the protection, preservation or restoration of the
environment and natural resources (including air, water vapor, surface water,
groundwater, drinking water supply, surface land, subsurface land, plant and
animal life or any other natural resource), or (c) the exposure to, or the use,
storage, recycling, treatment, generation, transportation, processing, handling,
labeling, production, release or disposal of Hazardous Materials. 

“Environmental
Liabilities” means, in respect of any Person, all Liabilities,
obligations, responsibilities, Remedial Actions, Losses, damages, costs, and
expenses (including all reasonable fees, disbursements, and expenses of counsel,
experts, and consultants and costs of investigation and feasibility studies),
fines, penalties, sanctions, and interest incurred as a result of any claim or
demand by any other Person or in response to any violation of Environmental Law,
whether known or unknown, accrued or contingent, whether based in contract,
tort, implied or express warranty, strict liability, criminal or civil statute,
to the extent based upon, related to, or arising under or pursuant to any
Environmental Law, Environmental Permit, Order, or Contract with any Governmental
Authority or other Person, that relates to any environmental, health or safety
condition, violation of Environmental Law, or a Release or threatened Release of
Hazardous Materials. 

48 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended.

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

“Foreign
Plan” means any plan, fund (including any superannuation fund) or other
similar program or arrangement established or maintained outside the United
States by the Company or any one or more of its Subsidiaries primarily for the
benefit of employees of the Company or such Subsidiaries residing outside the
United States, which plan, fund or other similar program or arrangement
provides, or results in, retirement income, a deferral of income in
contemplation of retirement or payments to be made upon termination of
employment, and which plan is not subject to ERISA or the Code. 

“Fraud
Claim” means any claim based in whole or in part upon fraud, willful
misconduct or intentional misrepresentation. 

“GAAP”
means generally accepted accounting principles as in effect in the United States
of America. 

“Governmental
Authority” means any federal, state, local, foreign or other
governmental, quasi-governmental or administrative body, instrumentality,
department or agency or any court, tribunal, administrative hearing body,
arbitration panel, commission, or other similar dispute-resolving panel or body.

“Hazardous
Material” means any waste, gas, liquid or other substance or material
that is defined, listed or designated as a “hazardous substance”, “pollutant”,
“contaminant”, “hazardous waste”, “regulated substance”, “hazardous chemical”,
or “toxic chemical” (or by any similar term) under any Environmental Law, or any
other material regulated, or that could result in the imposition of Liability or
responsibility, under any Environmental Law, including petroleum and its
by-products, asbestos, polychlorinated biphenyls, radon, mold, and urea
formaldehyde insulation. 

“Indebtedness” of any Person means (a) all indebtedness of such
Person for borrowed money (including the outstanding principal and accrued but
unpaid interest) or for the deferred purchase price of property or services, (b)
any other indebtedness of such Person that is evidenced by a note, bond,
debenture, credit agreement or similar instrument, (c) all obligations of such
Person under leases that should be classified as capital leases in accordance
with GAAP, (d) all obligations of such Person for the reimbursement of any
obligor on any line or letter of credit, banker’s acceptance, guarantee or
similar credit transaction, in each case, that has been drawn or claimed
against, (e) all obligations of such Person in respect of acceptances issued or
created, (f) all interest rate and currency swaps, caps, collars and similar
agreements or hedging devices under which payments are obligated to be made by
such Person, whether periodically or upon the happening of a contingency, (g)
all obligations secured by an Lien on any property of such Person and (h) any
premiums, prepayment fees or other penalties, fees, costs or expenses associated
with payment of any Indebtedness of such Person and (h) all obligation described
in clauses (a) through (g) above of any other Person which is directly or
indirectly guaranteed by such Person or which such Person has agreed
(contingently or otherwise) to purchase or otherwise acquire or in respect of
which it has otherwise assured a creditor against loss. 

49 

“Intellectual
Property” means all of the following as they exist in any jurisdiction
throughout the world: Patents, Trademarks, Copyrights, Trade Secrets, Internet
Assets, Software and other intellectual property, and all licenses, sublicenses
and other agreements or permissions related to the preceding property. 

“Internet
Assets” means any all domain name registrations, web sites and web pages
and related rights, items and documentation related thereto. 

“Knowledge”
means, with respect to (i) the Company, the actual knowledge of the executive
officers or directors of any Target Company, including Jiazhen Li, after due
inquiry or (ii) any other Party, the actual knowledge of its directors and
executive officers, after due inquiry. 

“Law” means
any federal, state, local, municipal, foreign or other law, statute,
legislation, principle of common law, ordinance, code, edict, decree,
proclamation, treaty, convention, rule, regulation, directive, requirement,
writ, injunction, settlement, Order or Consent that is or has been issued,
enacted, adopted, passed, approved, promulgated, made, implemented or otherwise
put into effect by or under the authority of any Governmental Authority. 

“Liabilities” means any and all liabilities, Indebtedness, Actions
or obligations of any nature (whether absolute, accrued, contingent or
otherwise, whether known or unknown, whether direct or indirect, whether matured
or unmatured and whether due or to become due), including Tax liabilities due or
to become due. 

“Lien”
means any mortgage, pledge, security interest, attachment, right of first
refusal, option, proxy, voting trust, encumbrance, lien or charge of any kind
(including any conditional sale or other title retention agreement or lease in
the nature thereof), restriction (whether on voting, sale, transfer, disposition
or otherwise), any subordination arrangement in favor of another Person, any
filing or agreement to file a financing statement as debtor under the Uniform
Commercial Code or any similar Law. 

“Material Adverse
Effect” means, with respect to any specified Person, any fact, event,
occurrence, change or effect that has had, or would reasonably be expected to
have, individually or in the aggregate, a material adverse effect upon (a) the
business, assets, Liabilities, results of operations, prospects or condition
(financial or otherwise) of such Person and its Subsidiaries, taken as a whole,
or (b) the ability of such Person or any of its Subsidiaries on a timely basis
to consummate the transactions contemplated by this Agreement or the Ancillary
Documents to which it is a party or bound or to perform its obligations
hereunder or thereunder; provided, however, that any changes or
effects directly or indirectly attributable to, resulting from, relating to or
arising out of the following (by themselves or when aggregated with any other,
changes or effects) shall not be deemed to be, constitute, or be taken into
account when determining whether there has or may, would or could have occurred
a Material Adverse Effect: (i) general changes in the financial or securities
markets or general economic or political conditions in the country or region in
which such Person or any of its Subsidiaries do business; (ii) changes,
conditions or effects that generally affect the industries in which such Person
or any of its Subsidiaries principally operate; (iii) changes in GAAP or other
applicable accounting principles or mandatory changes in the regulatory
accounting requirements applicable to any industry in which such Person and its
Subsidiaries principally operate; (iv) conditions caused by acts of God,
terrorism, war (whether or not declared) or natural disaster; (v) any failure in
and of itself by such Person and its Subsidiaries to meet any internal or
published budgets, projections, forecasts or predictions of financial
performance for any period (provided that the underlying cause of any such
failure may be considered in determining whether a Material Adverse Effect has
occurred or would reasonably be expected to occur to the extent not excluded by
another exception herein); provided further, however, that any
event, occurrence, fact, condition, or change referred to in clauses
(i) - (iv) immediately above shall be taken into account in determining whether
a Material Adverse Effect has occurred or could reasonably be expected to occur
to the extent that such event, occurrence, fact, condition, or change has a
disproportionate effect on such Person or any of its Subsidiaries compared to
other participants in the industries in which such Person or any of its
Subsidiaries primarily conducts its businesses.

50 

“NRS” means
Nevada Revised Statutes, as amended. 

“NYSE”
means NYSE MKT LLC. 

“Organizational
Documents” means, with respect to the Parent, the Parent Charter, and
with respect to any other Party, its Certificate of Incorporation and Bylaws or
similar organizational documents, in each case, as amended. 

“Order”
means any order, decree, ruling, judgment, injunction, writ, determination,
binding decision, verdict, judicial award or other action that is or has been
made, entered, rendered, or otherwise put into effect by or under the authority
of any Governmental Authority. 

“Parent
Charter” means the articles of incorporation of the Parent, as amended
and effective under the NRS. 

“Parent
Confidential Information” means all confidential or proprietary
documents and information concerning the Parent, its Subsidiaries or any of its
Representatives; provided, however, that Parent Confidential
Information shall not include any information which, (i) at the time of
disclosure by the Company, Seller or their respective Representatives, is
generally available publicly and was not disclosed in breach of this Agreement
or (ii) at the time of the disclosure by the Parent or its Representatives to
the Company, Seller or their respective Representatives was previously known by
such receiving party without violation of Law or any confidentiality obligation
by the Person receiving such Parent Confidential Information. For the avoidance
of doubt, from and after the Closing, Parent Confidential Information will
include the confidential or proprietary information of the Target Companies.

“Parent
Shares” means the shares of common stock, par value $0.001 per share, of
the Parent. 

“Parent Share
Price” shall mean the average closing trade price of each Parent Share
(or any successor equity security, including equity securities of a successor
entity issued in exchange for Parent Shares) as listed by NYSE (or any successor
exchange or quotation system on which such shares are listed or quoted) for the
twenty (20) day trading period ending on the trading day immediately prior to
the date of determination.

“Patents”
means any patents, patent applications and the inventions, designs and
improvements described and claimed therein, patentable inventions, and other
patent rights (including any divisionals, provisionals, continuations,
continuations-in-part, substitutions, or reissues thereof, whether or not
patents are issued on any such applications and whether or not any such
applications are amended, modified, withdrawn, or refiled). 

“Permits”
means all federal, state, local or foreign or other third-party permits, grants,
easements, consents, approvals, authorizations, exemptions, licenses,
franchises, concessions, ratifications, permissions, clearances, confirmations,
endorsements, waivers, certifications, designations, ratings, registrations,
qualifications or orders of any Governmental Authority or any other Person. 

51 

“Permitted
Liens” means (a) Liens for Taxes or assessments and similar governmental
charges or levies, which either are (i) not delinquent or (ii) being contested
in good faith and by appropriate proceedings, and adequate reserves have been
established with respect thereto, (b) other Liens imposed by operation of Law
arising in the ordinary course of business for amounts which are not due and
payable and as would not in the aggregate materially adversely affect the value
of, or materially adversely interfere with the use of, the property subject
thereto, (c) Liens incurred or deposits made in the ordinary course of business
in connection with social security, (d) Liens on goods in transit incurred
pursuant to documentary letters of credit, in each case arising in the ordinary
course of business, or (v) Liens arising under this Agreement or any Ancillary
Document. 

“Person”
means an individual, corporation, partnership (including a general partnership,
limited partnership or limited liability partnership), limited liability
company, association, trust or other entity or organization, including a
government, domestic or foreign, or political subdivision thereof, or an agency
or instrumentality thereof. 

“Personal
Property” means any machinery, equipment, tools, vehicles, furniture,
leasehold improvements, office equipment, plant, parts and other tangible
personal property.

“Release”
means any release, spill, emission, leaking, pumping, injection, deposit,
disposal, discharge, dispersal, or leaching into the indoor or outdoor
environment, or into or out of any property. 

“Remedial
Action” means all actions to (i) clean up, remove, treat, or in any
other way address any Hazardous Material, (ii) prevent the Release of any
Hazardous Material so it does not endanger or threaten to endanger public health
or welfare or the indoor or outdoor environment, (iii) perform pre-remedial
studies and investigations or post-remedial monitoring and care, or (iv) correct
a condition of noncompliance with Environmental Laws. 

“Representative” means, as to any Person, such Person’s Affiliates
and its and their managers, directors, officers, employees, agents and advisors
(including financial advisors, counsel and accountants). 

“RMB” means
Renminbi of the People’s Republic of China. 

“SEC” means
the Securities and Exchange Commission (or any successor Governmental
Authority). 

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

“Software”
means any computer software programs, including all source code, object code,
and documentation related thereto and all software modules, tools and databases.

“SOX” means
the Sarbanes-Oxley Act of 2002, as amended. 

“Subsidiary” means, with respect to any Person, any corporation,
partnership, association or other business entity of which (i) if a corporation,
a majority of the total voting power of shares of stock entitled (without regard
to the occurrence of any contingency) to vote in the election of directors,
managers or trustees thereof is at the time owned or controlled, directly or
indirectly, by that Person or one or more of the other Subsidiaries of that
Person or a combination thereof, or (ii) if a partnership, association or other
business entity, a majority of the partnership or other similar ownership
interests thereof is at the time owned or controlled, directly or indirectly, by
any Person or one or more Subsidiaries of that Person or a combination thereof. For
purposes hereof, a Person or Persons will be deemed to have a majority ownership
interest in a partnership, association or other business entity if such Person
or Persons will be allocated a majority of partnership, association or other
business entity gains or losses or will be or control the managing director,
managing member, general partner or other managing Person of such partnership,
association or other business entity.

52 

“Target
    Company” means each of the Company and its direct and indirect
Subsidiaries (if any). 

“Tax
Return” means any return, declaration, report, claim for refund,
information return or other documents (including any related or supporting
schedules, statements or information) filed or required to be filed in
connection with the determination, assessment or collection of any Taxes or the
administration of any Laws or administrative requirements relating to any Taxes.

“Taxes”
means (a) all direct or indirect federal, state, local, foreign and other net
income, gross income, gross receipts, sales, use, value-added, ad valorem,
transfer, franchise, profits, license, lease, service, service use, withholding,
payroll, employment, social security and related contributions due in relation
to the payment of compensation to employees, excise, severance, stamp,
occupation, premium, property, windfall profits, alternative minimum, estimated,
customs, duties or other taxes, fees, assessments or charges of any kind
whatsoever, together with any interest and any penalties, additions to tax or
additional amounts with respect thereto, (b) any Liability for payment of
amounts described in clause (a) whether as a result of being a member of an
affiliated, consolidated, combined or unitary group for any period or otherwise
through operation of law and (c) any Liability for the payment of amounts
described in clauses (a) or (b) as a result of any tax sharing, tax group, tax
indemnity or tax allocation agreement with, or any other express or implied
agreement to indemnify, any other Person. 

“Trade
Secrets” means any trade secrets, confidential business information,
concepts, ideas, designs, research or development information, processes,
procedures, techniques, technical information, specifications, operating and
maintenance manuals, engineering drawings, methods, knowhow, data, mask works,
discoveries, inventions, modifications, extensions, improvements, and other
proprietary rights (whether or not patentable or subject to copyright,
trademark, or trade secret protection). 

“Trademarks” means any trademarks, service marks, trade dress,
trade names, brand names, internet domain names, designs, logos, or corporate
names (including, in each case, the goodwill associated therewith), whether
registered or unregistered, and all registrations and applications for
registration and renewal thereof. 

 12.2      Section References. The following
capitalized terms, as used in this Agreement, have the respective meanings given
to them in the Section as set forth below adjacent to such terms:

	Term 	Section 	 	Term 	Section
  
	AAA 	11.4 	 	  	 
	AAA Procedures 	11.4 	 	  	 
	Accounts Receivable 	4.25 	 	  	 
	Acquisition Proposal 	6.6(a) 	 	  	 
	Agreement 	Preamble 	 	Amended Charter 	 
	Alternative Transaction 	6.6(a) 	 	Closing 	2.1 
	  	  	 	Closing Date 	2.1 
	  	  	 	Company 	Preamble 
	  	  	 	Company Benefit Plan 	4.19(a) 

53 

	Term 	Section 		Term 	Section
  
	Company Disclosure Schedules 	Article IV 		Purchased Shares 	1.1 
	Company Financials 	4.7(a) 		Purchaser 	Preamble 
	Company IP 	4.13(d) 		Purchaser Disclosure Schedules 	Article III 
	Company IP Licenses 	4.13(a) 		Parent Financials 	3.6(b) 
	Company Material Contract 	4.12(a) 		  	 
	Company Permits 	4.10 		  	 
	Company Personal Property Leases 	4.16 		  	 
	Company Real Property Leases 	4.15 		  	 
	Company Registered IP 	4.13(a) 		Parent Material Contracts 	 
	Dispute 	11.4 		Related Person 	4.21 
	Enforceability Exceptions 	3.2 		Releasing Persons 	10.1 
	Environmental Permit 	4.20(a) 		Resolution Period 	11.4 
	Exchange Shares 	1.2 		SEC Reports 	3.6(a) 
	Expenses 	9.3 		Seller 	Preamble 
	  	 		  	 
	  	 		  	 
	  	 		  	 
	  	 		  	 
	Federal Securities Laws 	 		Shareholder Meeting 	 
	Interim Balance Sheet Date 	4.7(a) 		Specified Courts 	11.5 
	Interim Period 	6.2(a) 		Supplemental Disclosure Schedules 	6.17(a) 
	Lock-Up Agreement 	8.2(e)(ii) 		Termination Fee 	9.4 
	Non-Competition Agreement 	8.2(e)(i) 		Top Customers 	4.23 
	Off-the-Shelf Software Agreements 	4.13(a) 		  	  
	Outbound IP License 	4.13(c) 		  	  
	Outside Date 	9.1(b) 		  	  
	Parent 	Preamble 		  	  
	Party(ies) 	Preamble 		  	  
	Public Certifications 	3.6(a) 		  	  

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURE PAGE
FOLLOWS] 

54 

 IN
WITNESS WHEREOF, each Party hereto has caused this Agreement to be signed and
delivered by its respective duly authorized officer as of the date first written
above. 

	 	The Parent: 
	 	 	  
	 	AMERICAN LORAIN CORPORATION,
    
	 	a Nevada corporation 
	 	 	 
	 	 	 
	 	By:	/s/ Si
      Chen 
	 	 	Name: Si Chen 
	 	 	Title: Chairman 
	 	 	 
	 	 	 
	 	The Purchaser: 
	 	 	 
		SHANGHAI XUNYANG INTERNET TECH
      CO. LTD., 
	 	a Chinese limited liability company
    
	 	 	 
	 	 	 
	 	By: 	/s/
      YiLei Shao 
	 	 	Name: YiLei Shao 
	 	 	Title: Chairman 
	 	 	 
	 	 	 
	 	The Company: 
	 	 	 
	 	TAISHAN MUREN AGRICULTURE CO. LTD.
      
	 	a Chinese limited liability company
    
	 	 	 
	 	 	 
	 	By: 	/s/
      YongJun Huang 
	 	 	Name: YongJun Huang 
	 	 	Title: Chairman 
	 	 	 
	 	 	 
	 	The Seller: 
	 	 	 
		SHENZHEN JIAMINGRUI NEW
      AGRICULTURE CO. LTD. 
	 	 	 
	 	By: 	/s/ XueMei Li 
	 	 	Name: XueMei Li 
	 	 	Title: Chairman

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