Document:

THIS WARRANT HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED
OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR SATISFACTORY
ASSURANCES TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED WITH RESPECT TO SUCH SALE, OFFER, PLEDGE OR HYPOTHECATION.

 

WARRANT TO PURCHASE COMMON STOCK

 

OF

 

STAFFING 360 SOLUTIONS, INC.

 

Void after _________, 2016

 

	Warrant No. ___	Date of Issuance: _____________, 2013

 

This certifies that,
for value received, _________________, a ________________________, or its registered assigns (the “Holder”)
is entitled, subject to the terms set forth below, to purchase from Staffing 360 Solutions, Inc. (the “Company”),
a Nevada corporation, __________________ (_______) (shares of the Common Stock of the Company (the “Warrant Shares”),
upon surrender hereof, at the principal office of the Company referred to below and simultaneous payment therefor in lawful money
of the United States or otherwise as hereinafter provided, at the Exercise Price as set forth in Section 2 below.

 

This warrant (the “Warrant”)
is issued pursuant to the “Subscription Agreement” dated as of ____________, 2013, among the Company and certain “Purchasers”
named therein (the “Subscription Agreement”). The number, character and Exercise Price of such shares of Common
Stock (the “Common Stock”) are subject to adjustment as provided below. The term “Warrant” as used
herein shall include this Warrant and any warrants delivered in substitution or exchange therefor as provided herein. Unless otherwise
separately defined herein, all capitalized terms used in this Warrant shall have the same meaning as is set forth in the Subscription
Agreement.

 

The following terms
shall apply to this Warrant:

 

1.            Term
of Warrant. Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or in part,
during the term commencing on the Date of Issuance, and ending at ___, 2016.

 

    	 

    	 

    

 

2.            Exercise
Price. The Exercise Price per share of Common Stock at which this Warrant may be exercised shall be equal to $2.00 per
share as adjusted from time to time pursuant to Section 10 below (the “Exercise Price”). If the Exercise Price
is adjusted, then the number of Warrant Shares issuable pursuant to this Warrant shall be appropriately adjusted, using the formula
set forth in Section 10 hereof.

 

3.            Exercise
of Warrant.

 

(a)          The
purchase rights represented by this Warrant are exercisable by the Holder in whole or in part, at any time, or from time to time,
by the surrender of this Warrant and the Notice of Exercise annexed hereto duly completed and executed on behalf of the Holder,
at the office of the Company (or such other office or agency of the Company as it may designate by notice in writing to the Holder
at the address of the Holder appearing on the books of the Company), upon payment in cash or by check acceptable to the Company.

 

(b)          Notwithstanding
anything to the contrary set forth herein, upon exercise of this Warrant, the Holder may, at the Holder’s election exercise
this Warrant by paying to the Company an amount equal to the aggregate Exercise Price of the Warrant Shares being purchased.

 

(c)          This
Warrant shall be deemed to have been exercised immediately prior to the close of business on the date of its surrender for exercise
as provided above, and the person entitled to receive the shares of Common Stock issuable upon such exercise shall be treated for
all purposes as the holder of record of such shares as of the close of business on such date. As promptly as practicable on or
after such date, the Company at its expense shall issue and deliver to the person or persons entitled to receive the same a certificate
or certificates for the number of shares issuable upon such exercise. In the event that this Warrant is exercised in part, the
Company at its expense will execute and deliver a new Warrant of like tenor exercisable for the number of shares for which this
Warrant may then be exercised.

 

4.            No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. In lieu of any fractional share to which the Holder would otherwise be entitled, the Company shall make a cash
payment equal to the Exercise Price multiplied by such fraction.

 

5.            Replacement
of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction, or mutilation
of this Warrant and, in the case of loss, theft, or destruction, on delivery of an indemnity agreement reasonably satisfactory
in form and substance to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company
at its expense shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor and amount.

 

6.            Rights
of Stockholders. Until the Holder exercises this Warrant and the Company issues the Holder Warrant Shares purchasable upon
the exercise hereof, as provided herein, the Holder shall not be entitled to vote or receive dividends or be deemed the holder
of Common Stock or any other securities of the Company that may at any time be issuable on the exercise hereof for any purpose,
nor shall anything contained herein be construed to confer upon the Holder, as such, any of the rights of a shareholder of the
Company or any right to vote for the election of directors or upon any matter submitted to shareholders at any meeting thereof,
or to give or withhold consent or assert dissenter’s rights with respect to any corporate action (whether upon any recapitalization,
issuance of stock, reclassification of stock, change of par value, or change of stock to no par value, consolidation, merger, conveyance,
or otherwise) or to receive notice of meetings, or to receive dividends or subscription rights or otherwise.

 

    	 

    	 

    

 

7.            Transfer
of Warrant.

 

(a)          Warrant
Register. The Company will maintain a register (the “Warrant Register”) containing the names and addresses
of the Holder. The Holder may change his address as shown on the Warrant Register by written notice to the Company requesting such
change. Any notice or written communication required or permitted to be given to the Holder may be delivered or given by mail to
the Holder as shown on the Warrant Register and at the address shown on the Warrant Register. Until this Warrant is transferred
on the Warrant Register, the Company may treat the Holder as shown on the Warrant Register as the absolute owner of this Warrant
for all purposes, notwithstanding any notice to the contrary.

 

(b)          Warrant
Agent. The Company may, by written notice to the Holder, appoint an agent for the purpose of maintaining the Warrant Register
referred to in Section 7(a) above, issuing the Common Stock or other securities then issuable upon the exercise of this Warrant,
exchanging this Warrant, replacing this Warrant, or any or all of the foregoing. Thereafter, any such registration, issuance, exchange,
or replacement, as the case may be, shall be made at the office of such agent.

 

(c)          Transferability
and Non-negotiability of Warrant. This Warrant may not be transferred or assigned in whole or in part without compliance with
the terms of this Warrant and all applicable federal and state securities laws by the transferor and the transferee (including
the delivery of investment representation letters reasonably satisfactory to the Company, if such are requested by the Company).

 

(d)          Compliance
with Securities Laws.

 

(i)          The
Warrant and the Warrant Shares are characterized as “restricted securities” under the 1933 Act inasmuch as they are
being acquired from the Company in a transaction not involving a public offering, and that under the 1933 Act and applicable regulations
thereunder, such securities may be resold without registration under the 1933 Act only in certain limited circumstances. In this
connection, the Holder represents that it is familiar with the Securities and Exchange Commission (“SEC”) Rule
144, as presently in effect, and understands the resale limitations imposed thereby and by the 1933 Act. The Company is under no
obligation to register any of the securities sold hereunder, except as provided in Section 11 hereof. No public market now
exists for this Warrant or the Warrant Shares and that it is uncertain whether a public market will ever exist for this Warrant
or the Warrant Shares.

 

(ii)          This
Warrant and all certificates for the Warrant Shares issued upon exercise hereof shall be stamped or imprinted with a legend in
substantially the following form (in addition to any legend required by state securities laws):

 

“THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE SECURITES MAY NOT BE SOLD OR OFFERED FOR SALE
IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER SUCH ACT, (B) A “NO ACTION” LETTER
OF THE SECURITIES AND EXCHANGE COMMISSION WITH RESPECT TO SUCH SALE OR OFFER OR (C) SATISFACTORY ASSURANCES TO THE CORPORATION
THAT REGISTRATION UNDER SUCH ACT IS NOT REQUIRED WITH RESPECT TO SUCH SALE OR OFFER.”

 

    	 

    	 

    

 

Certificates evidencing the Warrant shall
not contain any legend (including the legend set forth in this Section): (i) following a sale of such Warrant pursuant to an effective
registration statement or (ii) following a sale of such Warrant pursuant to Rule 144, or (iii) if such legend is not required under
applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the
SEC). Following such time as restrictive legends are not required to be placed on certificates representing the Warrant, the Company
will, no later than three Trading Days following the delivery by a Holder to the Company or the Company’s transfer agent
of a certificate representing the Warrant containing a restrictive legend, deliver or cause to be delivered to such Holder a certificate
representing such Warrant that is free from the restrictive legend provided for in this Section. The Company shall cause its counsel
to issue a legal opinion to the Company’s transfer agent promptly after the effective date of a registration statement covering
the Warrant if required by the Company’s transfer agent to effect the removal of the legend hereunder. The Company may not
make any notation on its records or give instructions to any transfer agent of the Company that enlarge the restrictions on transfer
set forth in this Section. Certificates for the Warrant subject to legend removal hereunder shall be transmitted by the transfer
agent of the Company to the Holder by crediting the account of the Holder’s prime broker with the Depository Trust Company
system.

 

(e)         Disposition
of the Holder's Rights.

 

(i)          Transferability.
Subject to compliance with any applicable securities laws, this Warrant and all rights hereunder (including, without limitation,
any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company
or its designated agent, together with a written assignment of this Warrant, substantially in the form attached hereto, duly executed
by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer.
Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name
of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment,
and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly
be cancelled. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant
Shares without having a new Warrant issued.

 

(ii)          New
Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the
Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by
the Holder or its agent or attorney. Subject to compliance with Section 7(e)(i), as to any transfer which may be involved in such
division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants
to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the initial
exercise date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

(f)           Any
entity to whom the Holder transfers any right to purchase the Warrant Shares pursuant to this Warrant or any of the Warrant Shares
issuable upon the exercise of such right shall become a “Holder” for purposes of this Section 7.

 

    	 

    	 

    

 

8.            Reservation
of Stock. The Company covenants that during the term this Warrant is exercisable, the Company will reserve from its authorized
and unissued Common Stock a sufficient number of shares to provide for the issuance of Common Stock upon the exercise of this Warrant
and, from time to time, will take all steps necessary to amend its Amended and Restated Certificate of Incorporation (the “Certificate”)
as the same may be amended from time to time to provide sufficient reserves of shares of Common Stock issuable upon exercise of
the Warrant. The Company further covenants that all shares that may be issued upon the exercise of rights represented by this Warrant,
upon exercise of the rights represented by this Warrant and payment of the Exercise Price, all as set forth herein, will be free
from all taxes, liens, and charges in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously
or otherwise specified herein). The Company agrees that its issuance of this Warrant shall constitute full authority to its officers
who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Common
Stock upon the exercise of this Warrant.

  

9.            Amendments.

 

(a)          Any
term of the Warrants, including this Warrant, may be amended, and any waiver of any term of the Warrants may be granted, with the
written consent of the Company and the holders of Warrants exercisable for at least a majority of the shares of Common Stock for
which all Warrants are exercisable. Any amendment or waiver effected in accordance with this Section 9 shall be binding upon the
Holder and each future holder of the Warrant and the Company, notwithstanding the fact that the Holder or such future holder did
not consent to such amendment or waiver.

 

(b)          No
waivers of or exceptions to any term, condition or provision of the Warrants, in any one or more instances, shall be deemed to
be, or construed as, a further or continuing waiver of any such term, condition or provision.

 

10.          Adjustments.
The Exercise Price and the number of shares purchasable hereunder are subject to adjustment from time to time as follows:

 

(a)          Reclassification,
etc. If the Company at any time while this Warrant, or any portion thereof, remains outstanding and unexpired shall, by reclassification
of securities or otherwise, change any of the securities as to which purchase rights under this Warrant exist into the same or
a different number of securities of any other class or classes, this Warrant shall thereafter represent the right to acquire such
number and kind of securities as would have been issuable as the result of such change with respect to the securities which were
subject to the purchase rights under this Warrant immediately prior to such reclassification or other change and the Exercise Price
therefor shall be appropriately adjusted, all subject to further adjustment as provided in this Section 10.

 

(b)          Split,
Subdivision or Combination of Warrant Shares. If the Company at any time while this Warrant, or any portion thereof, remains
outstanding and unexpired shall split, subdivide or combine the securities as to which purchase rights under this Warrant exist,
into a different number of securities of the same class, the Exercise Price for such securities shall be proportionately decreased
in the case of a split or subdivision or proportionately increased in the case of a combination.

 

    	 

    	 

    

 

(d)          Certificate
as to Adjustments. Upon the occurrence of each adjustment or readjustment pursuant to this Section 10, the Company at its expense
shall promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to each holder of this Warrant
a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment
is based. The Company shall, upon the written request, at any time, of any such holder, furnish or cause to be furnished to such
holder a like certificate setting forth: (i) such adjustments and readjustments; (ii) the Exercise Price at the time in effect;
and (iii) the number of shares and the amount, if any, of other property which at the time would be received upon the exercise
of the Warrant.

 

11.          Registration
Rights. Upon exercise of this Warrant, the shares of Common Stock issued as a result of such exercise shall have the registration
rights as set forth in Section 1(c) of the Subscription Agreement.

 

13.          Miscellaneous.

 

(a)          Additional
Undertaking. The Holder hereby agrees to take whatever additional action and execute whatever additional documents the Company
may deem necessary or advisable in order to carry out or effect one or more of the obligations or restrictions imposed on either
the Holder or the shares of Common Stock issued upon exercise hereof pursuant to the provisions of this Warrant.

 

(b)          Governing
Law. This Warrant shall be governed by, and construed in accordance with, the laws of the State of New York without resort
to that State's conflict-of-laws rules.

 

(c)          Successors
and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its successors
and assigns and upon the Holder, the Holder's permitted assigns and the legal representatives, heirs and legatees of the Holder's
estate, whether or not any such person shall have become a party to this Warrant and have agreed in writing to join herein and
be bound by the terms hereof.

 

(d)          Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant
Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of
the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate,
if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation,
in lieu of such Warrant or stock certificate.

 

(e)          Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the Subscription Agreement.

 

(f)           Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Subscription Agreement.

 

    	 

    	 

    

 

(g)          Limitation
of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder
for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company
or by creditors of the Company.

 

(h)          Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

(Signatures appear on the following page.)

 

    	 

    	 

    

 

IN WITNESS WHEREOF,
Staffing 360 Solutions, Inc. has caused this Warrant to be executed by its officer thereunto duly authorized.

 

Dated as of ___________, 2013.

 

	 	STAFFING 360 SOLUTIONS, INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    	 

    	 

    

NOTICE OF EXERCISE

 

	 	To:	Staffing 360 Solutions, Inc.

 

(1)          The
undersigned hereby elects to purchase ____________ shares of Common Stock of Staffing 360 Solutions, Inc., pursuant to the terms
of the attached Warrant.

 

Such exercise is made
pursuant to Section 1(a) and the undersigned herewith makes payment of the Warrant Price for such shares in full in the amount
of $___________.

 

(2)          In
exercising this Warrant, the undersigned hereby confirms and acknowledges that the shares of Common Stock have not been registered
under the Securities Act of 1933, as amended (the “1933 Act”), and are restricted securities under the 1933
Act and that the undersigned will not offer, sell, or otherwise dispose of any such shares of Common Stock except under circumstances
that will not result in a violation of the 1933 Act or any state securities laws.

 

(3)          Please
issue a certificate or certificates representing said shares of Common Stock in the name of the undersigned or in such other name
as is specified below:

 

	 	Name	 
	 	 	 
	 	Name	 

 

(4) Please issue a new Warrant for the
unexercised portion of the attached Warrant in the name of the undersigned or in such other name as is specified below:

 

	 	Name	 
	 	 	 
	 	Name	 

 

	Signature:	 	 

 

	Date:SHARE PURCHASE
AGREEMENT

 

AMONG

 

STAFFING
360 SOLUTIONS, INC.

 

AND

 

THE SHAREHOLDERS
OF INITIO INTERNATIONAL HOLDINGS LIMITED

 

Dated October
30, 2013

 

    	 

    	 

    

 

SHARE
PURCHASE AGREEMENT

 

THIS
SHARE PURCHASE AGREEMENT (this “Agreement”), dated 30th October 2013 (the “Effective Date”),
is by and among Staffing 360 Solutions, Inc., a Nevada corporation (the “Purchaser”) (1) and those Persons
listed on Schedule 1 hereto (individually a “Shareholder”, and individually and collectively the “Shareholders”)
(2). The Purchaser and the Shareholders are collectively referred to herein as the “Parties.”

 

RECITALS

 

Under
this Agreement the Purchaser is to purchase from the Shareholders all of the issued shares of Initio in consideration of the Purchase
Price (as defined below). Upon completion of which transaction the Purchaser will own all of the issued shares of Initio and Initio
will become a wholly-owned subsidiary of the Purchaser.

 

Now,
therefore, in consideration of the premises and the mutual promises herein made, and in consideration of the representations,
warranties, and covenants herein contained, the Parties agree as follows:

 

ARTICLE
I

 

Definitions

 

1.1           Definitions.
In addition to the capitalized terms defined elsewhere in this Agreement, including the recitals, the following capitalized terms,
when used herein, shall have the following meanings:

 

“Accounting
Policies” means the accounting policies and practices used in the preparation of the Accounts that are in accordance
with accounting standards policies principles and practices generally accepted in the United Kingdom (including all applicable
statements of Standard Accounting Practice and Financial Reporting Standards) including the policies and practices listed in Section
2 of Schedule 2.

 

“Accounts”
means the audited consolidated financial statements of Initio and the Group for the year ended 31 December 2012;

 

“Adjusted
EBITDA” means earnings before interest, taxes, depreciation, amortization, and also excludes business reorganization
costs, impairment of goodwill, and costs incurred outside of the normal course of business or non-recurring costs in
accordance with the Accounting Policies.

 

“Affiliate”
means, with respect to a specified Person, any other Person or member of a group of Persons acting together that, directly or
indirectly, through one or more intermediaries, Controls, or is Controlled by or is under common Control with, the specified Person.

 

“Agreement,”
“this Agreement,” “hereto,” “hereof,” “hereunder,” “hereby,”
and similar expressions refer to this Stock Purchase Agreement, including the Schedules and exhibits attached hereto, and
not any particular article, section, subsection or other subdivision hereof or thereof.

 

“Business
Day” means a day, other than Saturday or Sunday, on which banks in London, England, are open to the public for the transaction
of their normal banking business.

 

“Closing”
has the meaning set forth in Section 2.4 hereof.

 

“Closing
Date” has the meaning set forth in Section 2.4 hereof.

 

“Closing
Payment” has the meaning set forth in Section 2.2 hereof.

 

“Code”
means the Internal Revenue Code of 1986, as amended, and regulations promulgated thereunder.

 

    	 

    	 

    

 

“Control”
(including the terms “Controlling,” “Controlled By,” and “under Common Control With”)
means the holding of the majority of the voting rights attaching to the equity shares or stock of any company that carries the
power to direct or cause the direction of the management and policies of that company.

 

"Covenantors"
means Brendan Flood and Matthew Briand.

 

"Covenantors'
and Shareholders' Representatives" means Brendan Flood and Matthew Briand.

“Deed
of Warranties” means, the Deed of Warranties and Tax Covenant between the Purchaser and the Covenantors in the agreed
form, subject to such amendments as may be agreed between the Purchaser and the Covenantors prior to the Closing.

 

"Disclosure
Letter" means the letter dated as at the Closing Date from the Covenantors to the Purchaser and which is delivered to
the Purchaser immediately before Closing (and which includes the Disclosure Bundle).

 

Disclosure
Bundle means the bundle of documents annexed to, or forming the bundle of documents referred to in, the Disclosure Letter
(and which forms part of the Disclosure Letter).

 

“EBITDA”
means earnings before interest, taxes, depreciation and amortization, calculated in accordance with Sections 2, 3 and 4 of
Schedule 2.

 

“Employment
Agreement” has the meaning set forth in Section 2.3 hereof.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

"Gross
Profit" means Revenue less direct costs of services, consisting of payroll, payroll taxes, insurance costs and reimbursable
expenses, calculated in accordance with Section 1 of Schedule 2.

 

"Group"
means Initio and the Subsidiaries and "Group Company" means any one of them.

 

“Governmental
Body” means any foreign, federal, state, provincial or local governmental body or political subdivision thereof, and
any agency or other entity exercising executive, legislative, judicial, regulatory or administrative functions of government,
including, without limitation, all taxing authorities.

 

"HMRC"
means Her Majesty's Revenue and Customs in the United Kingdom.

 

“Holder”
has the meaning set forth in Section 5.8 hereof.

 

“in
the agreed form” means in the form of the document agreed by the Parties and initialed by the Parties for identification.

 

"Initio"
means Initio International Holdings Limited, a company incorporated in England and Wales with company number 7116112 whose registered
office is at Suite 002, 1-9 Hardwicks Square, Hardwicks Way, Wandsworth, London, England SW18 4AW.

 

“Investment”
shall mean, as applied to any Person, (i) any direct or indirect purchase or other acquisition by such Person of any notes, obligations,
instruments, stock, securities or ownership interest (including without limitation partnership interests and joint venture interests)
of any Person and (ii) any capital contribution by such Person to any other Person.

 

“Key
Employee” means an employee of Initio who meets any one or more of the following criteria: (i) owns at least five percent
of the issued and outstanding stock of Initio (excluding Simon Lythgoe); or (ii) is an officer or member of the Board of Directors
of Initio.

 

    	 

    	 

    

 

“Lien”
means any interest, consensual or otherwise, in property securing a monetary obligation owed to, or a claim by, a Person other
than the owner of the Property, whether such interest is based on the common law, statute or contract, including without limitation,
all liens, mortgages, security interests, pledges, deeds of trust, statutory liens for unpaid rentals, options or other charges
and encumbrances.

 

“Material”
or “Materially” (whether or not capitalized) means (a) a contract with a potential value in excess of One Hundred
Thousand Dollars ($100,000), either individually or in an aggregate basis, or (b) a potential effect on Initio in excess of One
Hundred Thousand Dollars ($100,000), either individually or in an aggregate basis or (c) which is otherwise material in the context
of the financial position or trading of the Group.

 

“Material
Adverse Change” or “Material Adverse Effect” means any change, effect, event, occurrence or state
of facts that is, or is reasonably likely to be, Materially adverse to the business and/or financial condition, of Initio or its
Subsidiaries (on a combined basis), other than any change, effect, event, occurrence or state of facts relating to the economy
in general.

 

"Minority
Shareholders" means those persons (other than Initio) who are shareholders in the Subsidiaries and whose names and addresses
are set out in column 1 of Schedule 4.

 

"Minority
Shareholder Deeds" means the deeds in the agreed form to be entered into by each of the Minority Shareholders and the
Purchaser pursuant to which the Purchaser will agree to purchase the Minority Shareholder's shareholding in the Subsidiaries for
such consideration as it set out opposite such Minority Shareholder's name in Schedule 4.

 

“Person”
means any individual, corporation, partnership, limited liability company or partnership, unincorporated association, trust,
joint venture or other organization or entity.

 

“Piggy-Back
Registration” has the meaning set forth in Section 5.8 hereof.

 

"Profit
Payments" means the payments to be made to each of the Right Holders on Closing, in accordance with the scheme operated by
Monroe Staffing Services LLC.

 

“Promissory
Note” means promissory notes in the agreed form, to be issued by the Purchaser to the Shareholders under Section 2.3(c)
below.

 

“Purchase
Price” has the meaning set forth in Section 2.2 hereof.

 

“Purchaser
Common Stock” means the Purchaser’s common stock, $.00001 par value per share.

 

"Purchaser's
Group" means the Purchaser, any parent undertaking and/or subsidiary undertaking (each as defined in section 1162 of
the Companies Act 2006) of the Purchaser.

 

“Purchaser
Shares” means the Purchaser Common Stock issued to the Shareholders pursuant to section 2.3(b) hereof and any additional
Purchaser Common Stock issued to the Shareholders pursuant to section 2.2(d).

 

"Revenue"
means revenue of the Group, determined as follows: (i) revenue for temporary services (recognized at the time that the service
is provided and revenue is recorded on a time and materials basis); (ii) temporary contracting revenue (recognized as gross when
the company acts as principal in the transaction and is at risk for collection); (iii) revenue that does not meet the criteria
for gross revenue reporting (reported on a net basis); (iv) revenue generated when the company permanently places an individual
with a client on a contingent basis (recorded at the time of acceptance of employment); and (v) revenue generated when the company
places an individual with a client on a retained basis (recorded ratably over the period the services are rendered), in a manner
as consistently applied by the Group.

 

"Rights
Holders" means those persons whose names are set out in column 1 of Schedule 5.

 

    	 

    	 

    

 

“Schedule”
means any Schedule to this Agreement.

 

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

 

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

 

“Selling
Expenses” has the meaning set forth in Section 5.8 hereof.

 

“Selling
Holder” means a holder who elects to include Purchaser Shares in a Piggy-Back Registration in accordance with Section
5.8 hereof.

 

"September
Accounts" means the consolidated management accounts of the Group for the twelve month period ending on September 30,
2013 showing the EBITDA of the Group for the twelve month period to September 30, 2013, such accounts having been prepared in
accordance with the Accounting and the Principle applied in calculating Gross Profit and Revenue of the Group, and agreed by the
Purchaser and Shareholder prior to Closing.

 

“Shares”
has the meaning set forth in Section 2.1(a) hereof.

 

“Subsidiaries”
means each of the companies listed in Part 2 of Schedule 4.

 

“Trading
Market” means the following markets, exchanges or listing platforms on which the Purchaser Common Stock is listed or
quoted for trading on the date in question: the NYSE AMEX, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global
Select Market, the New York Stock Exchange, the OTC Bulletin Board or the OTC Markets Group.

 

“Transaction
Documents” means this Agreement and the other agreements, documents and instruments contemplated hereby, including but
not limited to the Promissory Note, the Deed of Warranties, Deed of Restrictive Covenant, Minority Shareholders Deeds, and Employment
Agreements.

 

"Working
Capital Additional Payment" has the meaning set forth in Section 2.3(e) hereof.

 

"Working
Capital Reduction Payment" has the meaning set forth in Section 2.3(e) hereof.

 

“Work
in Process” or “WIP” means the right to receive payment from a client of Initio or any of its Subsidiaries
for services provided by Initio or its Subsidiaries (whether the services are complete or incomplete) before the Closing Date
and which, as of the Closing Date, has not been included in an invoice sent to the client. Work in Process is separate and distinct
from Initio’s or any of its Subsidiaries’ accounts receivable, for purposes of this Agreement.

 

1.2          Meaning
of “Knowledge.”

 

For
the purposes of this Agreement, any reference to the existence or absence of facts which is indicated to be based on the Knowledge
of Initio means the actual knowledge of the Covenantors and the directors and officers of Initio and the Subsidiaries who would
know. Any reference to the Knowledge of the Purchaser shall mean the actual knowledge of Alfonso J. Cervantes, the Purchaser’s
President.

 

ARTICLE
II

 

Purchase
and Sale of Shares

 

2.1          Sale
and Delivery.

 

(a)          Purchase
of Shares. On the terms and subject to the conditions set forth in this Agreement, each of the Shareholders hereby agrees to sell
to the Purchaser, and the Purchaser hereby agrees to purchase all of the issued shares of Initio held by the Shareholders in the
amounts shown opposite their respective names in Column (2) of Schedule 1, which on the Closing Date shall collectively constitute
one hundred percent (100%) of the issued shares of Initio (the “Shares”). The Shares shall be sold by the Shareholders
with full title guarantee free and clear of any and all Liens and with all rights attaching to them at the Closing Date.

 

    	 

    	 

    

 

2.2          Total
Purchase Price. The aggregate consideration to be paid by the Purchaser to the Shareholders for the sale and purchase of the Shares
shall be the sum of:

 

		(i)	4.5 x the EBITDA of the Group for
                                         the calendar year ending December 31, 2013 calculated in accordance with the provisions
                                         of Schedule 2 of this Agreement and the principles applied in calculating Gross Profit
                                         and Revenue, save that the minimum aggregate amount payable by the Purchaser to the Shareholders
                                         shall be the sum of $14.58 million and the maximum aggregate amount payable by the Purchaser
                                         to the Shareholders shall be the sum of £17.82 million (the "Purchase Price");
                                         plus

 

		(ii)	U.S. $500,000 (the "Fee
                                         Consideration");

 

		(iii)	plus any Working Capital Additional
                                         Payment; or

 

		(iv)	less any Working Capital Reduction
                                         Payment,

 

(the
aggregate of (i) to (iv) together the “Total Purchase Price”).

 

2.3          Closing
Payment. At Closing the Purchaser shall pay to the Shareholders an aggregate sum equal to:

 

		(i)	4.5 x the EBITDA of the Group for
                                         the 12 month period ending September 30, 2013 as set out in the September Accounts (the
                                         "Closing Payment"). Such Closing Payment shall be payable by the Purchaser
                                         as set forth in Sections 2.3(a), (b) and (c) below and each Shareholder shall receive
                                         such proportion of the Closing Payment as set out in Schedule 1; and

 

		(ii)	the Fee Consideration, which shall
                                         be payable by the Purchaser to the Shareholders in cash in immediately available funds
                                         by wire transfer to accounts specified by the Shareholders and in such proportions as
                                         set out in Schedule 1.

 

(a)          Cash.
At the Closing, the Purchaser shall pay to the Shareholders an amount equal to 40% of the Closing Payment, in cash in immediately
available funds by (i) wire transfer to accounts specified by the Shareholders or (ii) if requested by a Shareholder, by a certified
or bank cashier’s check payable to, or upon the order of, such Shareholder. Each Shareholder will receive such amount of
the Closing Payment in cash as is set out opposite his name in Schedule 1.

 

(b)          Purchaser
Shares. At the Closing, the Purchaser shall pay in satisfaction of 33.3% of the Closing Payment, by the issuance to the Shareholders
of approximately 3,236,760 Purchaser Common Stock valued at a price of $1.50 per shares. Each Shareholder will receive such number
of the Purchaser Shares as is set out opposite his name in Schedule 1. The Purchaser Shares will be issued free and clear of all
Liens, and will have all rights attached to the Purchaser’s Common Stock issued to or held by all the other shareholders
of the Purchaser at the Closing Date and the registration rights as provided set forth in Section 5.8 below.

 

(c)          Promissory
Note. At the Closing, the Purchaser shall execute and deliver to the Shareholders a three year promissory note in the aggregate
amount equal to 26.7% of the Closing Payment. Each Shareholder will receive such nominal value of Promissory Notes as is set out
opposite his name in Schedule 1. Subject to the terms of the Promissory Notes, each Promissory Note will bear interest at the
rate of six (6%) percent per annum, amortized on a five year straight line basis. Payment of the Promissory Note shall commence
in the month after the Closing Date and continue monthly thereafter in accordance with the terms of the Promissory Notes.

 

    	 

    	 

    

 

(d)          Purchase
Price/Closing Payment Adjustment. Upon completion of the audit of the Group for the year ended December 31, 2013, the Purchase
Price shall be calculated and the Closing Payment shall be adjusted accordingly to reflect the Adjusted EBITDA of the Group for
the calendar year ending December 31, 2013 based upon the audited financial statements of Initio for the year ended December 31,
2013, prepared and agreed in accordance with Schedule 2 (the "Audited Financial Statements"). Accordingly, should
the Purchase Price exceed the Closing Payment the Purchaser shall pay to the Shareholders the amount by which the Purchase Price
exceeds the Closing Payment, subject to a maximum aggregate additional payment to the Shareholders of $17.82m (the "Additional
Amount") or should the Purchase Price be lower than the Closing Payment, the Shareholders shall repay to the Purchaser
the amount by which the Closing Payment exceeds the Purchase Price, subject to a minimum aggregate receipt by the Shareholders
of $14.85 million (the "Reduction Amount"). Any Additional Amount payable by the Purchaser shall be paid by the
Purchaser to the Shareholders as to 33.3% in Purchaser Common Stock (valued at $1.50 per share), 40% in cash and 26.7% in Promissory
Notes. Any Reduction Amount shall be paid by the Shareholders to the Purchaser by cancellation of such number of Purchaser Shares
(valued at $1.50 per share) as shall equal the amount of the Reduction Amount. Any payment of an Additional Amount or Reduction
Amount required pursuant to this Section 2.2(d) shall be made within 30 days of receiving the Audited Financial Statements for
the year ended December 31, 2013 and in any case no later than March 31, 2014.

 

(e)          Minimum
Working Capital. The Parties hereby agree that at Closing the Group shall maintain a minimum working capital (being the current
assets of the Group less the current liabilities of the Group) of at least $500,000 (“Minimum Working Capital Requirement”)
and a maximum working capital of $750,000 ("Maximum Working Capital Requirement"), and such Minimum Working Capital
Requirement and Maximum Working Capital Requirement will be reviewed by the Parent’s accountants prior to Closing to determine
the amount of Working Capital that the Company should maintain for its operations. The Minimum Working Capital Requirement and
the Maximum Working Capital Requirement shall be so adjusted as shall be mutually agreed to by the Shareholders and the Purchaser.
On Closing the Shareholders shall procure that management accounts of the Group for the period from 1 October, 2013 to the Closing
Date are produced and delivered to the Purchaser detailing the working capital of the Group at Closing as calculated in accordance
with the principles applied in calculating Gross Profit and Revenue and the pro-forma set out in Schedule 3 (the "Working
Capital Amount"). The Purchaser shall have 20 Business Days following submission to it of such management accounts and
Working Capital Amount ("Response Period") to notify the Shareholders in writing ("Purchaser Response")
that does not agree with the Working Capital Amount and setting out in reasonable detail the points of disagreement and the adjustments
which the Purchaser believes are required. Any items not identified in the Purchaser Response will be deemed to be agreed and,
if no Purchaser Response is received during the Response Period, the Purchaser will be deemed to have accepted the Working Capital
Amount and such amount will (in the absence of fraud or manifest error) be binding on the parties. If a Purchaser Response is
received by the Shareholders during the Response Period then the Purchaser and Shareholders will have until the date falling 20
Business Days after the date on which the Purchaser Response is received by the Shareholders (the "Resolution Period")
to agree the items in dispute and therefore the Working Capital Amount. The amount so agreed will (in the absence of fraud or
manifest error) be final and binding on the Parties. If agreement cannot be reached during the Resolution Period then the matter
shall be referred to the Expert for final decision in accordance with paragraph 4 of Schedule 2, who will decide the Working Capital
Amount. Once the Working Capital Amount has been agreed or determined then, within 5 Business Days of such agreement or determination:
(i) in the event that the Working Capital Amount is less than the Minimum Working Capital Requirement, the Shareholders shall
pay the difference between the Minimum Working Capital Requirement and the Working Capital Amount to the Purchaser by the cancellation
of such number of Purchase Shares (valued at $1.50 per share) as shall equal 33.3% of the amount of the Reduction Amount, 40%
of the Reduction Amount in cash and 26.7% of the Reduction Amount shall be applied in reducing the principal amount of the Promissory
Note (together with accrued interest thereon) (the "Working Capital Reduction Payment"), or (ii) in the event
that the Working Capital Amount is more than the Maximum Working Capital Requirement the Total Purchase Price shall be increased
to reflect any excess amount over the Maximum Working Capital Requirement (the "Working Capital Additional Payment")
and the Purchaser shall pay such amount to the Shareholders (in such proportions as set out in Schedule 1) as to 33.3% in Purchaser
Common Stock (valued at $1.50 per share), 40% in cash and 26.7% in Promissory Notes.

 

2.4          Employment
Agreements. As of the Closing, each of Brendan Flood and Matthew Briand will, and the Purchaser shall procure that Initio, as
a wholly-owned subsidiary of Purchaser, will enter into an employment agreement, in the agreed form (the “Employment
Agreement(s)”). In addition, the Purchaser agrees to, on a case-by-case basis, and with the insight of Mr. Flood, determine
which Key Employees of Initio, if any, shall be offered employment with the Purchaser. In addition, as of the Closing, each of
the Covenantors will enter into the Restrictive Covenant Deed.

 

    	 

    	 

    

 

2.5          The
Shareholders and Initio. The Parties agree that a due diligence exercise is to be conducted in relation to Initio and the Shareholders
in the period prior to the Closing and that on the Closing the Covenantors and the Purchaser will enter into the Deed of Warranties.
The Parties agree that in the period prior to the Closing, they will undertake the following measures to enable the due diligence
to be completed prior to the Closing:

 

(a)          The
Purchaser will prepare and submit to the Shareholders a list of due diligence questions and requests for information (the “DD
Questions”).

 

(b)          As
soon as possible and in any event within 10 Business Days after the DD Questions have been delivered to the Shareholders, the
Shareholders will prepare a dataroom in which copies of all documentation reasonably requested is made available to the Purchaser
and its professional advisers and the Shareholders, will respond, where reasonably possible, to all of the DD Questions.

 

(c)          The
Purchaser will undertake a due diligence exercise in reviewing the documentation and information provided by the Shareholders
and raise any additional requests for documentation and information that the Shareholders will deal with in a reasonably timely
manner.

 

(d)          The
Deed of Warranties will be subject to amendment by the Purchaser and by the Covenantors to take account of the due diligence exercise
and such additional provisions as the Parties may consider reasonable and appropriate having regard to the nature of the transaction.
The Deed of Warranties shall be given subject to the matters fairly disclosed in the Disclosure Letter.

 

(e)          The
Parties will use all reasonable endeavors to procure that the due diligence exercise is completed and the Deed of Warranties is
in an agreed form that may be executed by the Parties on or before the Closing.

 

(iii)        Closing.
The purchase and sale of the Shares and the consummation of the other transactions contemplated by this Agreement (the “Closing”)
shall occur on such date, hour and place as shall be agreed upon in writing by the Shareholders and the Purchaser, but not later
than five (5) days from the date on which the last of the Conditions is satisfied, which of completion of the last Condition has
been provided to each party, said date being generally referred to as the “Closing Date”. The parties will
agree on the Closing Date at least five (5) business days in advance, in order for Seller to provide required notice of the Closing
Date to interested third parties, provided always that the Closing Date shall take place no later than January 3, 2014.

 

(iv)        Board
Appointment. Immediately on Closing, Purchaser shall appoint Mr. Brendan Flood and Mr. Matthew Briand (the “Initial Appointment”)
to the Board of Directors of Purchaser for a period of one (1) year. Following the Initial Appointment, the Board of Directors
of Purchaser shall take all reasonable action such that Mr. Flood and Mr. Briand are nominated at the Purchaser’s annual
shareholder meeting to serve as a member of the Board of Directors of the Purchaser the following year after the Initial Appointment.

 

ARTICLE
III

 

[INTENTIONALLY
OMITTED]

 

ARTICLE
IIIA

 

Warranties

Concerning
the Shareholders

 

Each
Shareholder, severally as to such Shareholder only, and not jointly and severally, warrants to the Purchaser, that:

 

    	 

    	 

    

 

3A.1       Consents.
All consents, approvals and waivers necessary for the execution and delivery by such Shareholder of this Agreement and the other
Transaction Documents to which such Shareholder is a party and the consummation of the transactions contemplated hereby and thereby
have been obtained or will be obtained on or prior to the Closing Date, and such Shareholder has, and immediately prior to the
Closing will have the capacity to enter into and perform fully his or her obligations under this Agreement and the other Transaction
Documents.

 

3A.2       Authorization.
Each Shareholder has full legal and valid title to the shares as set forth opposite his name in Schedule 1 to this Agreement and
such shares are not subject to (i) any encumbrance or liens or (ii) preemptive rights or rights of first refusal (other than those
which are the subject of a waiver). Each Shareholder has all requisite capacity to execute, deliver and perform this Agreement
and the other Transaction Documents to which he or she is a party. This Agreement and other Transaction Documents to which such
Shareholder is a party, when executed and delivered by such Shareholder, shall constitute the valid and legally binding obligation
of such Shareholder, enforceable against such Shareholder in accordance with its terms except: (a) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the
enforcement of creditors’ rights generally; or (b) as limited by laws relating to the availability of specific performance,
injunctive relief, or other equitable remedies.

 

3A.3       No
Conflicts. The execution, delivery and performance of this Agreement and the other Transaction Documents by such Shareholder and
the consummation of the transactions contemplated hereby and thereby by such Shareholder will not conflict with, require consent
or result in a breach or violation of any term or provision of, or constitute a default under, any indenture, mortgage, deed of
trust, loan agreement or other agreement or instrument to which such Shareholder is a party or by which any of such Shareholder’s
assets are bound.

 

ARTICLE
IV

 

Representations
and Warranties of Purchaser

 

The
Purchaser hereby represents and warrants to Initio and the Shareholders, unless otherwise disclosed in the Transaction Documents
or in the Purchaser’s Exchange Act documents, that:

 

All references
to schedules provided in this Section shall be provided at the Closing.

 

4.1           Organization
and Good Standing. The Purchaser has been duly organized and is validly existing as a corporation in good standing under the laws
of the jurisdiction of its organization with full power and authority (corporate and otherwise) to enter into this Agreement and
the other Transaction Documents to which it is a party, to issues the Purchaser Shares contemplated hereby, to consummate the
transactions contemplated hereby and thereby, and to carry on its business as currently conducted and as currently proposed to
be conducted. The Purchaser is duly qualified and is authorized to do business and is in good standing as a foreign corporation
in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification
necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect on the Purchaser
or its business.

 

4.2           Authorization;
Compliance with Law. Each of this Agreement and all other Transaction Documents, including but not limited to the Promissory Note,
to be executed and delivered by Purchaser hereunder has been duly authorized by all necessary action on the part of the Purchaser,
and each of this Agreement and the other Transaction Documents to which Purchaser is a party has been duly executed and delivered
by the Purchaser and constitutes the legal, valid and binding obligation of the Purchaser enforceable against the Purchaser in
accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency and other similar laws affecting
the enforcement of creditors’ rights generally, and by general equitable principles. The Purchaser is in compliance, in
all material respects, with all federal, state and local laws and regulations applicable to it and its business, including without
limitation the Securities Act, the Exchange Act, and the regulations promulgated thereunder.

 

4.3           Purchaser
Shares. The Purchaser Shares will, at the Closing have been duly authorized by all necessary action, and when issued at Closing,
shall be validly issued, fully paid and non-assessable and free and clear of all Liens. The sale of the Purchaser Shares is not
and will not be subject to any preemptive rights or rights of first refusal that have not been properly waived or complied with.

 

    	 

    	 

    

 

4.4          No
Conflicts. Neither the execution, delivery and performance of this Agreement and the other Transaction Documents to which Purchaser
is a party, nor the consummation of the transactions contemplated hereby and thereby, nor the issuance of the Purchaser Shares,
will Materially conflict with or result in a breach or violation of any term or provision of, or (with or without notice or passage
of time, or both) constitute a default under, or otherwise give any person or entity a basis for nonperformance under, any indenture,
mortgage, deed of trust, loan or credit agreement, or other agreement or instrument to which the Purchaser is a party or by which
the Purchaser is bound or to which any of the property or assets of the Purchaser is subject, nor will such action result in the
violation of the provisions of the charter or bylaws of the Purchaser or any statute applicable to it the Purchaser (including,
without limitation, the Securities Act, the Exchange Act or the regulations promulgated thereunder), or any order,
rule or regulation of any Governmental Body applicable to the Purchaser, or any order, writ, injunction or decree of any court
or any arbitrator having jurisdiction over the Purchaser or any of its property or assets. The issuance and sale of the Purchaser's
Shares hereunder does not contravene the rules and regulations of any Trading Market on which any of the securities of the Purchaser
are listed or designated.

 

4.5          Compliance
with Other Instruments and Laws. The Purchaser is not in violation or default of any term of its charter or its bylaws, or of
any provision of any mortgage, indenture, contract, agreement or instrument which is filed with the SEC as an exhibit to any report
filed by the Company under the Exchange Act or the Securities Act or of any judgment, decree, order or writ. The Purchaser is
not in violation of any applicable statute, rule, regulation, order or restriction of any domestic or foreign government or any
instrumentality or agency thereof in respect of the conduct of its business or the ownership of its properties, except where such
violation would not have a material adverse effect on the Purchaser or its business. The Purchaser has all franchises, permits,
licenses and any similar authority necessary for the conduct of its business as now being conducted by it, the lack of which could
materially and adversely affect the business, properties, prospects or financial condition of the Purchaser.

 

4.6          Consents.
All consents, authorizations and approvals of any competent Governmental Body or any arbitrator or any other Person required to
be obtained by the Purchaser as a result of the consummation of the transactions contemplated by this Agreement, including without
limitation the issuance of the Purchaser Shares, have been obtained.

 

4.7          Registration
Rights. Except as set forth in the Purchaser Exchange Act Documents and except as provided on Schedule 4.7, the Purchaser
has not granted any rights, to register under the Securities Act any of the Purchaser’s currently outstanding securities
or any of its securities that may hereafter be issued. Capital Stock and Related Matters; Subsidiaries and Investments.

 

(a)          The
authorized capital stock of the Purchaser consists of 220,000,000 authorized shares, (i) 200,000,000 of which are designated as
Purchaser Common Stock, and 13,170,588 shares of which are issued and outstanding as of October 28, 2013, and (ii) 20,000,000
of which are designated as preferred stock, $.00001 par value per share, no shares of which are issued and outstanding as of October
28, 2013.

 

(b)          Except
as set forth in the Purchaser Exchange Act Documents, and except as set forth on Schedule 4.7, the Purchaser has no outstanding
stock or securities convertible into or exchangeable for any shares for its capital stock or containing any profit participation
features, nor does it have outstanding any rights or options to subscribe for or purchase its capital stock or any stock or securities
convertible into or exchangeable for any shares for its capital stock or any stock appreciation rights or phantom stock plans.
The Purchaser is not subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares
of its capital stock or any warrants, options or other rights to acquire its capital stock. All of the outstanding shares of the
Purchaser’s capital stock have been validly issued and are fully paid and nonassessable.

 

(c)          All
of the outstanding shares of the Purchaser’s capital stock have been validly issued and are fully paid and nonassessable.

 

Except
as set forth in the Purchaser Exchange Act Documents, the Purchaser does not own any Subsidiaries.

 

    	 

    	 

    

 

4.8           Financial
Statements. The (i) audited balance sheets of the Purchaser as of May 31, 2012 and May 31, 2013 and (ii) audited consolidated
income statements of the Purchaser for the years ended May 31, 2013, 2012 and 2011 contained in the Purchaser Exchange Act Documents
(collectively, the “Purchaser Financial Statements”) have been prepared by the Purchaser on the basis of the books
and records maintained by the Purchaser in the ordinary course of business in a manner consistently used and applied throughout
the periods involved. The Purchaser Financial Statements have been prepared in accordance with GAAP and present fairly the assets,
liabilities and the financial condition of the Purchaser as at the respective dates thereof.

 

4.9           Interim
Operations. Except as set forth on Schedule 4.10, since August 31, 2013, and except as specifically disclosed in a report filed
by the Purchaser under the Exchange Act since August 31, 2013: (i) there has been no event, occurrence or development that has
had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Purchaser has not incurred any
liabilities (contingent or otherwise) other than trade payables and accrued expenses incurred in the ordinary course of business
consistent with past practice, (iii) the Purchaser has not altered its method of accounting, (iv) the Purchaser has
not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made
any agreements to purchase or redeem any shares of its capital stock and (v) the Purchaser has not issued any equity securities
to any officer, director or Affiliate, except pursuant to existing Company equity compensation plans. Except as set forth on Schedule
4.10, no event, liability or development has occurred or exists with respect to the Purchaser or its Subsidiaries or their respective
business, properties, operations or financial condition, that would be required to be disclosed by the Purchaser under applicable
securities laws at the time this representation is made or deemed made that has not been publicly disclosed at least one Business
Day prior to the date that this representation is made.

 

4.10         Undisclosed
Liabilities. The Purchaser does not have any liabilities or obligations of any nature (whether accrued, absolute, contingent
or otherwise), except for liabilities or obligations (i) disclosed on Schedule 4.11hereto, (ii) disclosed in the Purchaser Financial
Statements, or (iii) arising in the ordinary course of business consistent with past practice since August 31, 2013. 

 

4.11         Sarbanes-Oxley;
Disclosure Controls and Procedures; Internal Accounting Controls. We may not be in compliance with Sarbens-Oxley.

 

4.12         Listing
and Maintenance Requirements. The Purchaser Common Stock is registered pursuant to Section 12(g) of the Exchange Act.

 

4.13         Foreign
Corrupt Practices. Neither the Purchaser, nor to the knowledge of the Purchaser, any agent or other person acting on behalf
of the Purchaser, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other
unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic
government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed
to disclose fully any contribution made by the Purchaser (or made by any person acting on its behalf of which the Purchaser is
aware) which is in violation of law, or (iv) violated in any material respect any provision of the Foreign Corrupt Practices
Act of 1977, as amended. Taxes. The Purchaser and each of its subsidiaries have filed all necessary federal, state and foreign
income and franchise tax returns and has paid or accrued all taxes shown as due thereon, and the Purchaser has no knowledge of
a tax deficiency which has been asserted or threatened against the Purchaser or any of its subsidiaries.

 

4.14         Litigation.
Except as set forth on Schedule 4.16 hereto, there is no claim, legal action, suit, arbitration, or mediation proceeding or other
legal, administrative or governmental investigation, inquiry or proceeding pending or threatened, relating to the transactions
contemplated by this Agreement or the other Transaction Documents or the consummation hereof or thereof.

 

4.15         Offering
Valid. Assuming the accuracy of the representations and warranties of the Shareholders contained in Article IIIA, the offer,
sale and issuance of the Purchaser Shares as contemplated by this Agreement will be exempt from the registration requirements
of the Securities Act, and will have been registered or qualified (or are exempt from registration and qualification) under the
registration, permit or qualification requirements of all applicable state securities laws.

 

    	 

    	 

    

 

4.16         Exchange
Act Documents. Purchaser is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act and has filed
all forms, reports and documents (together with any required amendments thereto) required to be filed by Purchaser with the SEC.
All such required forms, reports and documents (including those that Purchaser may file subsequent to the date hereof) are referred
to herein as the “Purchaser Exchange Act Documents.” As of their respective dates, the Purchaser Exchange Act Documents
(i) were prepared in accordance with the requirements of the Securities Act or the Exchange Act, as the case may be, and the rules
and regulations of the SEC thereunder applicable to such Purchaser Exchange Act Documents.

 

ARTICLE
V

 

Covenants

 

The Covenantors
and the Purchaser where applicable hereby covenant as follows:

 

5.1           Ordinary
Course. Prior to the Closing Date, the Shareholders shall cause each of Initio and Subsidiaries to conduct its business in the
usual and ordinary course, in substantially the same manner as theretofore conducted, use commercially reasonable efforts (in
compliance with this Agreement) to preserve intact its current business and goodwill, to maintain its equipment in good condition
and repair, to keep available the services of its current officers and Key Employees and to preserve its relationships with customers,
suppliers and others having business dealings with it. For purposes of this Agreement, “usual and ordinary course”
shall mean so as not to have a Material impact on Initio and the Subsidiaries. The Shareholders shall obtain prior approval of
the Purchaser before transacting any transactions not in the ordinary course of business

 

5.2           Dividends;
Capital Stock. Prior to the Closing Date, neither Initio nor Subsidiaries shall (i) declare any dividends on, or make other distributions
in respect of, any shares of its capital stock; (ii) issue, authorize or propose the issuance of, or purchase or propose the purchase
of, any shares capital stock or of Initio or the Subsidiaries or securities convertible into or exchangeable with securities of
Initio or Subsidiaries; (iii) change the outstanding shares of Initio’s or Subsidiaries’ capital stock into a different
number of shares of the same or different class by reason of any reclassification, recapitalization, forward stock split, reverse
stock split, combination, exchange of shares or readjustment, or declare a stock dividend thereon; or (iv) obligate itself to
do any of the foregoing.

 

5.3           Covenant
to Change Name. After the Closing, the Shareholders shall work with the Purchaser and take all reasonable actions necessary on
behalf of Purchaser, to have the name of Initio changed to “Staffing 360 Solutions – UK” or such other name
as approved by the Board of Directors of the Purchaser.

 

5.4           Confidentiality.
Any information (except publicly available or freely usable material obtained from another source) respecting any Party or its
Affiliates will be kept in strict confidence by all other Parties to this Agreement and their agents. Except as required by law,
each Party and their respective Affiliates, directors, officers, employees or agents, will not disclose the terms of the transactions
contemplated hereunder at any time, currently, or on or after the Closing, regardless of whether the Closing takes place, except
as necessary to their attorneys, accountants, third parties, or professional advisors, in which instance such persons and any
employees or agents shall be advised of the confidential nature of the terms of the transaction and shall themselves be required
by the applicable Party to keep such information confidential. Except as required by law, each Party shall retain all information
obtained from the other and their lawyers on a confidential basis except as necessary to their attorneys, accountants and professional
advisors, in which instance such persons and any employees or agents of such Party shall be advised of the confidential nature
of the terms of the transaction and shall themselves be required by such Party to keep such information confidential. Notwithstanding
the information in this provision, the Purchaser shall be permitted to disclose this Agreement and related transaction in SEC
Filings to prospective investors in connection with future financings, provided, however, such potential investors shall enter
into a non-disclosure agreement regarding this transaction.

 

5.5           Publicity.
If mutually desired by Purchaser and the Shareholders, the Purchaser and the Shareholders will cooperate with each other in the
development and distribution of any news releases and other public disclosures relating to the transactions contemplated by this
Agreement and, following the Closing, relating to the Business generally. Notwithstanding the foregoing, the provisions of this
paragraph shall not be applicable in the event a Party hereto is required to make public disclosure pursuant to the laws of any
Governmental Body or securities exchange.

 

    	 

    	 

    

 

5.6          Required
Information. In connection with the preparation of any report, statement, filing notice or application made by or on behalf of
Purchaser to any Governmental Body, FINRA, the SEC or other third Person, including prospective investors to the Purchaser in
connection with the transactions contemplated hereby, and for such other reasonable purposes, the Shareholders shall, upon request
by Purchaser, furnish Purchaser with all information concerning themselves, Initio, Subsidiaries, and directors, officers and
employees of Initio or Subsidiaries, and such other matters as may be reasonably necessary or advisable in connection with the
transactions contemplated hereby, or any other report, statement, filing, notice or application made by or on behalf of Purchaser
to any third party and/ or any Governmental Authority in connection with the transactions contemplated hereby.

 

5.7          Transfer
Taxes. All transfer, documentary, sales, use, transaction privilege, stamp, registration and other such taxes and fees incurred
in connection with this Agreement, if any, shall be borne by the Purchaser.

 

5.8          Registration
Rights.

 

(a)          Piggy-Back
Rights. If at any time prior to the election by the Agent (as set forth below) to include Purchaser Shares in a registration statement,
the Purchaser proposes to file a registration statement under the Securities Act with respect to an offering of equity securities,
or securities or other obligations exercisable or exchangeable for, or convertible into, equity securities, by the Purchaser for
its own account or for security holders of the Purchaser for their account (or by the Purchaser and by security holders of the
Purchaser), other than a registration statement (i) filed solely in connection with an offering of securities to employees
or directors of Purchaser pursuant to any employee stock option or other benefit plan, (ii) filed on Form S-4 or S-8 or any
successor to such forms, (iii) for an exchange offer or offering of securities solely to the Purchaser’s existing security
holders, (iv)  for a dividend reinvestment plan, or (v) solely in connection with a merger, share capital exchange,
asset acquisition, share purchase, reorganization, amalgamation, subsequent liquidation, or other similar business transaction
that results in all of the Purchaser’s shareholders having the right to exchange their common stock for cash, securities
or other property of a non-capital raising bona fide business transaction, then the Purchaser shall (x) give written notice
of such proposed filing to [Mr. Flood], as agent for the holders (the “Agent”) of the Purchaser Shares (each a “Holder”
and, collectively the “Holders”) as soon as practicable but in no event less than ten (10) days before the anticipated
filing date, which notice shall describe the amount and type of securities to be included in such offering, the intended method(s)
of distribution, and the name of the proposed managing underwriter or underwriters, if any, of the offering, and (y) offer
to the Holders in such notice the opportunity to register the sale of such number of the Purchaser Shares as the Holders may request
in writing within ten (10) following receipt by the Agent of such notice (a “Piggy-Back Registration”). Purchaser
shall include in such registration statement such Purchaser Shares that are requested to be included therein within ten (10) days
after the receipt by the Agent of any such notice, on the same terms and conditions as any similar securities of the Purchaser.
If at any time after giving written notice of its intention to register any securities and prior to the effective date of the
registration statement filed in connection with such registration, the Purchaser shall determine for any reason not to register
or to delay registration of such securities, the Purchaser may, at its election, give written notice of such determination to
by the Agent of such Holders, and (x) in the case of a determination not to register, shall be relieved of its obligation
to register any Purchaser Shares in connection with such registration, and (y) in the case of a determination to delay registering,
shall be permitted to delay registering any Purchaser Shares for the same period as the delay in registering such other securities.
If the offering pursuant to a Piggy-Back Registration is to be an underwritten offering, then the holder making a request for
its Purchaser Shares to be included therein must permit the sale or other disposition of such Purchaser Shares in accordance with
the intended method(s) of distribution thereof. The holder of the Purchaser Shares proposing to distribute their securities through
a Piggy-Back Registration that involves an underwriter or underwriters shall enter into an underwriting agreement in customary
form with the underwriter or underwriters selected for such Piggy-Back Registration and the holder of the Purchaser Shares shall
be responsible for any fees or commissions due to such underwriters in connection with the sale of such Purchaser Shares (“Selling
Expenses”).

 

    	 

    	 

    

 

(A)         Reduction
of Offering. If the managing underwriter or underwriters for a Piggy-Back Registration that is to be an underwritten offering
advises the Purchaser and the holder of Purchaser Shares in writing that the dollar amount or number of the Common Stock which
the Purchaser desires to sell, as to which registration has been demanded pursuant to written contractual arrangements with persons
other than the holders of the Purchaser Shares, the Purchaser Shares as to which registration has been requested under this section,
as to which registration has been requested pursuant to the written contractual piggy-back registration rights of other security
holders of the Purchaser, exceeds the maximum dollar amount or maximum number of securities that can be sold in such offering
without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of
such offering (such maximum dollar amount or maximum number of securities, as applicable, the “Maximum Number of Securities”),
then the Purchaser shall include in any such registration: 

 

(1)         If
the registration is undertaken for the Purchaser’s account: (A) first, the shares of Common Stock that the Purchaser desires
to sell; and (B) to the extent of the Maximum Number of Securities, the shares of Common Stock, pro-rata among holders, for
the account of any persons, including investors in this Offering for which the Purchaser is obligated to register pursuant to
contractual piggy-back registration rights such as in this Agreement. 

 

(B)         Withdrawal.
Any Holder may elect to withdraw such holder’s request for inclusion of the Purchaser Shares in any Piggy-Back Registration
by giving written notice to the Purchaser of such request to withdraw prior to the effectiveness of the registration statement.
The Purchaser (whether on its own determination or as the result of a withdrawal by persons making a demand pursuant to written
contractual obligations) may withdraw a registration statement at any time prior to the effectiveness of the registration statement.

 

(b)          Expenses.
All expenses (other than Selling Expenses) incurred in connection with registrations, filings, or qualifications hereunder, including
all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the
Purchaser; shall be borne and paid by the Purchaser. All Selling Expenses relating to Purchaser Shares registered pursuant hereto
shall be borne and paid by the Selling Holders pro rata on the basis of the number of Purchaser Shares registered on their behalf.

 

(c)          Termination
of Registration Rights. The right of any Holder to request inclusion of Purchaser Shares in any registration pursuant hereto shall
terminate upon the earliest to occur of:

 

		a.	the closing of a Deemed Liquidation Event;

 

(C)         such
time as Rule 144 or another similar exemption under the Securities Act; and

 

(D)         with
respect to any Purchaser Shares, at such time as such Purchaser Shares have been registered. 

 

(E)         Further,
the Purchaser has the right to exclude the holder of the Purchaser Shares from any registration statement in the event the Purchaser
is contractually obligated to exclude such securities. Furthermore, in the event that the registration statement covers shares
of the Purchaser, the Purchaser, or the underwriter shall have a right to require the holders to a six (6) month lock-up period
from the date of effectiveness of the registration statement. Obligations of the Buyer.  In connection with any registration
statement utilized by the Purchaser to satisfy the registration rights pursuant to this section, the Buyer agrees to cooperate
with the Purchaser in connection with the preparation of the registration statement, and holder agrees that it will (i) respond
within three (3) Business Days to any written request by the Purchaser to provide or verify information regarding holder
or his purchase Shares (including the proposed manner of sale) that may be required to be included in such registration statement
and related prospectus pursuant to the rules and regulations of the Securities and Exchange Commission, and (ii) provide
in a timely manner information regarding the proposed distribution by the holder of the Purchaser Shares and such other information
as may be requested by the Purchaser from time to time in connection with the preparation of and for inclusion in the registration
statement and related prospectus.

 

    	 

    	 

    

 

(d)          Indemnification.
So long as at the time of the filing of a registration statement the Covenantors are not an executive officer or director of the
Purchaser, if any Purchaser Shares are included in a registration statement hereunder:

 

		a.	To the extent permitted by law, the Purchaser will indemnify
and hold harmless each Selling Holder, any underwriter (as defined in the Securities Act) selected by the Purchaser and each Person,
if any, who controls such Selling Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against
any loss, damage, claim or liability (joint or several) to which a party hereto may become subject under the Securities Act, the
Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action in respect thereof)
arises out of or is based upon: (i) any untrue statement or alleged untrue statement of a material fact contained in any registration
statement of the Purchaser; (ii) an omission or alleged omission to state therein a material fact required to be stated therein,
or necessary to make the statements therein not misleading; or (iii) any violation by the indemnifying party (or any of its agents
or Affiliates) of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under
the Securities Act, the Exchange Act, or any state securities law (collectively, “Damages”), and the Purchaser will
pay to each such Selling Holder, underwriter, controlling Person, or other aforementioned Person any legal or other expenses reasonably
incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result; provided,
however, the foregoing indemnity shall not apply if any Damages resulting from information referenced in items (i), (ii) and (iii)
above were provided by the Covenantors, or that the foregoing indemnity agreement shall not apply to amounts paid in settlement
of any such claim or proceeding if such settlement is effected without the consent of the Purchaser, which consent shall not be
unreasonably withheld, nor shall the Purchaser be liable for any Damages to the extent that they arise out of or are based upon
actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of any such Selling
Holder, underwriter, controlling Person, or other aforementioned Person expressly for use in connection with such registration.

 

		b.	To the extent permitted by law, each Selling Holder,
severally and not jointly, will indemnify and hold harmless the Purchaser, and each of its directors, each of its officers, each
person (if any), who controls the Purchaser within the meaning of the Securities Act, legal counsel and accountants for the Purchaser,
any underwriter (as defined in the Securities Act), any other Holder selling securities in such registration statement, and any
controlling Person of any such underwriter or other Holder, against any Damages, in each case only to the extent that such Damages
arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished
by or on behalf of such Selling Holder expressly for use in connection with such registration; and each such Selling Holder will
pay to the Purchaser and each other aforementioned Person any legal or other expenses reasonably incurred thereby in connection
with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided,
however, that the foregoing indemnity agreement shall not apply to amounts paid in settlement of any such claim or proceeding
if such settlement is effected without the consent of the Majority Holder, which consent shall not be unreasonably withheld;,
except in the case of fraud or willful misconduct by such Holder.

 

Promptly
after receipt by an indemnified party hereunder of notice of the commencement of any action (including any governmental action)
for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is
to be made against any indemnifying party hereunder, give the indemnifying party notice of the commencement thereof. The indemnifying
party shall have the right to participate in such action and, to the extent the indemnifying party so desires, participate jointly
with any other indemnifying party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory
to the parties; provided, however, that an indemnified party (together with all other indemnified parties that may be represented
without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by
the indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be
inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by
such counsel in such action

 

    	 

    	 

    

 

ARTICLE
VI

 

Conditions
Precedent to Closing

 

6.1          Conditions
of the Purchaser. The obligations of the Purchaser to consummate the transactions contemplated by this Agreement and the other
Transaction Documents shall be subject to the satisfaction, at or prior to the Closing, of the following conditions, any of which
may be waived in whole or in part by Purchaser:

 

(a)          the
due diligence exercise contemplated by Section 2.4 shall have been completed to the reasonable satisfaction of the Purchaser in
its sole discretion;

 

(b)          the
Deed of Warranties shall have been completed and delivered by the Covenantors to Purchaser in the agreed form with such amendments
as may be agreed by the Purchaser and the Covenantors, provided always that the terms of the warranties shall be subject to the
Covenantors delivering to the Purchaser the Disclosure Letter;

 

(c)          the
warranties of the Covenantors in this Agreement shall be true and correct in all material respects on and as of the Closing Date
with the same effect as if made on the Closing Date, and the Covenantors shall have complied with all covenants and agreements
and satisfied all conditions on their part to be performed or satisfied under this Agreement or any other Transaction Documents
on or prior to the Closing Date;

 

(d)          each
of the Minority Shareholders entering into a Minority Shareholders Deed;

 

(e)          each
of the Shareholders shall have delivered to the Purchaser (i) the original certificate or certificates for the Shares being transferred
hereunder, and share transfer forms in respect of all the Shares duly executed by the Shareholders, together
with or (ii) an indemnity for lost share certificate in an agreed form, certifying as to the loss or destruction of such certificate(s),
or certifying that a stock certificate representing such Shares was never issued to the Shareholders, in each case in a form reasonably
satisfactory to the Purchaser’s counsel;

 

(f)       
   each of the Covenantors shall have delivered to the Purchaser their Employment Agreement and the
Restrictive Covenant Deed duly executed;

 

(g)          Purchaser
shall have received the opinion of the Shareholder’s counsel, dated as of the Closing, in a form reasonably acceptable to
the Purchaser, for a transaction of this type, in a form to be mutually agreed to by the Parties prior to Closing.

 

6.2          Conditions
of the Shareholders. The obligations of the Shareholders to consummate the transactions contemplated by this Agreement and the
other Transaction Documents shall be subject to the satisfaction, at or prior to the Closing, of the following conditions, any
of which may be waived in whole or in part by the Shareholders:

 

(a)          the
Purchaser shall pay the cash element of the Closing Payment as required by Section 2.2(a) hereof ; shall issue the Promissory
Note; and shall duly execute and deliver to Shareholders either (i) certificates representing the Purchaser Shares or (ii) evidence
reasonably satisfactory to Shareholders counsel that the Purchaser Shares have been duly issued to Shareholders and that Shareholders
are reflected as the owner thereof on the books and records of the Purchaser;

 

    	 

    	 

    

 

(b)          the
representations and warranties of the Purchaser in this Agreement shall be true and correct in all material respects on and as
of the Closing Date with the same effect as if made on the Closing Date, and the Purchaser shall have complied with all covenants
and agreements and satisfied all conditions on its part stated to be performed or satisfied under this Agreement or any other
Transaction Document prior to the Closing Date;

 

(c)          the
Purchaser shall appoint each of Brendan Flood and Matthew Briand to the Purchaser’s board of directors;

 

(d)          HMRC
having given clearances in respect of the proposed acquisition of the Sale Shares under section 701 of the Income Tax Act 2007
and section 138 of the Capital Gains Taxes Act 1992 in terms reasonably satisfactory to the Shareholders and not having withdrawn
them;

 

(e)          the
Purchaser shall deliver to Initio and the Shareholders such documents, certificates and instruments as may be reasonably requested
by the Shareholders in connection with the consummation of the transactions contemplated by this Agreement and the other Transaction
Documents;

 

(f)        
  the Purchaser entering into the Minority Shareholder Deeds;

 

(g)          the
Purchaser making the Profit Payments to the Rights Holders, as set out in Schedule 5;

 

(h)          the
consent of ABN AMRO and Wells Fargo to the transaction in a form reasonably acceptable to the Purchaser;

 

(i)      
    the Purchase providing the Shareholders with an opinion (in a form reasonably satisfactory to the
Shareholders) from Counsel that (i) the Purchase Shares will be fully paid and non-assessable; (ii) this Agreement has been
properly authorized; and (iii) compliance with anti-takeover laws in the state of Nevada, in a form to be mutually agreed to
by the Parties prior to Closing;

 

(j)   
       the Purchaser shall deliver to each of the Shareholders his or her respective
Employment Agreement, executed by the Purchaser in accordance with Section 2.3(g).

 

ARTICLE
VII

 

Termination,
Amendment and Waiver

 

		7.1	Termination. This Agreement may
                                         be terminated at any time on or prior to the Closing Date:

 

(a)          by
mutual agreement of the Parties hereto;

 

(b)          by
the Purchaser if: (i) at any time there has been a material misrepresentation, breach of warranty or breach of covenant by the
Shareholders under this Agreement; or (ii) any condition precedent to Closing set forth in Section 6.1 of this Agreement
is not capable of being satisfied or has not been met on the Closing Date;

 

(c)          by
a majority of the Shareholders if: (i) at any time there has been a material misrepresentation, breach of warranty or breach of
covenant by Purchaser under this Agreement; or (ii) any condition precedent to Closing set forth in Section 6.2 of this Agreement
is not capable of being satisfied or has not been met on the Closing Date,; and

 

7.2          Effect.
In the event of termination of this Agreement as provided in Section 9.1 hereof, this Agreement shall forthwith become void and
there shall be no liability for any reason on the part of any Party hereto, or any officer, director, employee, agent or representative
of any Party hereto or any person who Controls a Party hereto, except for willful breach.

 

7.3          Amendment.
This Agreement may be amended at any time only by a written instrument executed by the Purchaser and the Shareholders.

 

    	 

    	 

    

 

7.4          Waiver.
Compliance with or performance under any term or provision of this Agreement may be waived in writing by mutual agreement of the
Purchaser, Initio and the Shareholders.

 

ARTICLE
VIII

 

General
Provisions

 

8.1          Complete
Agreement and other Matters.

 

(a)          This
Agreement (i) constitutes the entire agreement and supersedes all other prior and contemporaneous promises, covenants, understandings,
representations, warranties, agreements and undertakings, both written and oral, among the Parties hereto with respect to the
subject matter hereof; (ii) is not intended to confer upon any person or entity any rights or remedies hereunder or with respect
to the subject matter hereof except an specifically provided in this Agreement; (iii) shall not be assigned by operation of law
or otherwise; (iv) shall be governed by, and construed in accordance with the laws of New York; (v) may be executed in two or
more counterparts, each of which shall be deemed to be an original, but all such counterparts together shall constitute a single
agreement; (vi) may be executed by facsimile signature, provided that the original thereof is provided to the other Parties promptly
thereafter; and (vii) shall be construed without regard to headings or captions, or gender, or whether a reference is to
the singular or plural. Initio, the Shareholders and the Purchaser agree that service of process by registered or certified mail,
return receipt requested, at his, her or its address specified in or pursuant to Section 8.5 is reasonably calculated to give
actual notice.

 

(b)          Each
party acknowledges and agrees that it has not entered into this Agreement in reliance on any statement or representation of any
person (whether a party to this Agreement or not) which is not expressly incorporated in this Agreement. No party will have any
right or remedy for pre-contractual misrepresentation or negligent misstatement or otherwise in respect of any statement or representation
of any person (whether a party to this Agreement or not) which is not expressly incorporated in this Agreement.

 

(c)          No
party will have any right or remedy for any representation or statement made or incorporated in this Agreement other than in contract.

 

(d)          Nothing
in this Agreement or in any other document referred to in it will be read or construed as excluding any liability or remedy as
a result of fraud.

 

8.2          Expenses.
All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the
Party or Parties incurring the same, but shall not be paid by the Company.

 

8.3          Broker’s
Fees. Each of the Purchaser, Initio and Shareholders agree to pay the fees of any broker hired by it and to indemnify and hold
the other Parties harmless from any claim by any broker, finder, banker or intermediary hired or claiming to have been hired by
it.

 

8.4          Further
Action. Subject to the terms and conditions provided in this Agreement, each of the Parties hereto agrees to use all reasonable
efforts to take, or cause to be taken, all action, and to do, or cause to be done, all things necessary, proper or advisable under
applicable laws and regulations to consummate and make effective the transactions contemplated by this Agreement. If at any time
after the Closing Date any further action is necessary to carry out the purposes of this Agreement, the Shareholders or Purchaser,
as the case may be, shall take, or cause to be taken, all such necessary action.

 

8.5          Notice.

 

(e)          All
notices, requests, demands, claims, and other communications hereunder will be in writing. Any notice, request, demand, claim,
or other communication hereunder shall be deemed duly given: (i) upon receipt if delivered personally; (ii) one (1) Business Day
following the date sent when sent by reputable overnight courier (such as FedEx) and (iii) three (3) Business Days following the
date mailed when mailed by registered or certified mail, return receipt requested and postage prepaid, at the following addresses:

 

    	 

    	 

    

 

	(a)          As
    to Purchaser:	Staffing
        360 Solutions, Inc.

        641
        Lexington Avenue

        Suite
        1526

        New York, NY  10022

        Attention:
        Alfonso J. Cervantes, President

         

	With a copy to: 	Ellenoff
        Grossman & Schole LLP

        150
        East 42nd Street, 11th Floor

        New
        York, NY 10017

        Attention:
        Barry I. Grossman, Esq.         

 

	(b)          As
    to Covenantors' and Shareholders' Representative:	 
	 	 
	With
        a Copy to:

         

         
	Mishcon
        de Reya

        Summit
        House

        12
        Red Lion Square

        London
        WC1R 4QD

         

        Attention:
        Nick Davis

 

or
to such other address, or to such other authorized recipient of any notice hereunder, as any Party shall in writing deliver to
all other Parties in accordance with this Section 10.5.

 

(f)          The
Purchaser irrevocably appoints Nicolas Roche of Thomas Eggar LLP, 14 New Street, London EC2M 4HE as its agent to receive on its
behalf in England and Wales service of any proceedings arising out of or in connection with this Agreement. Service will be deemed
completed on delivery to that agent (whether or not it is forwarded to and received by its principal). If for any reason that
agent ceases to be able to act as agent or no longer has an address within England or Wales, the Purchaser will immediately appoint
a substitute and give notice to the other parties of the new agent's name and address within England or Wales. Nothing in this
Agreement affects the right to serve process in any other manner permitted by law.

 

(g)          The
Shareholders irrevocably appoints Lawrence Spector of Pryor Cashman LLP, 7 Times Square, New York, New York, USA as its agent
to receive service of any proceedings arising out of or in connection with this Agreement. Service will be deemed completed on
delivery to that agent (whether or not it is forwarded to and received by its principal). If for any reason that agent ceases
to be able to act as agent or no longer has an address within the State of New York, the shareholders will the State of New York.
Nothing in this Agreement affects the right to serve process in any other manner permitted by law.

 

8.6          Covenantors'
and Shareholders' Representative.

 

(h)          Any
notice, consent, agreement, direction or waiver required or permitted to be given or made by all or some of the Shareholders or
the Covenantors (as the case may be) under this Agreement will be validly given or made on their behalf if given or made by the
Covenantors' and Shareholders' Representative for the purposes of this Agreement and will be binding on the relevant Shareholders
or Covenantors, as appropriate.

 

(i)     
     The Shareholders and the Covenantors authorise the Covenantors' and Shareholders'
Representative to act in the way contemplated by this Agreement and to take any decision as he may decide in his absolute
discretion and, provided he acts in good faith, the Covenantors' and Shareholders' Representative will have and accepts no
liability to the Shareholders and the Covenantors or to any other person other than the Purchaser in connection with or as a
result of anything which the Covenantors' and Shareholders' Representative does, refrains from doing or neglects or omits to
do in connection with any matter relating to this Agreement.

 

    	 

    	 

    

 

8.7          Survival.
The covenants and agreements of the Parties shall survive the Closing indefinitely unless otherwise set forth in this Agreement.

 

8.8          Severable
Provisions.

 

(j)        
  If any provision of this Agreement is void or unenforceable in any jurisdiction then it will be severed from this
Agreement insofar as it relates to that jurisdiction only and that invalidity or unenforceability will not affect the other
provisions of this Agreement or the relevant provisions in any other jurisdiction which will remain in full effect.

 

(k)          If
any provision of this Agreement is so found to be invalid or unenforceable but would be valid or enforceable if some part of the
provision were deleted or the period, area or scope of application of the provision were reduced, the provision in question will
apply with any modification(s) that may be necessary to make it valid and enforceable in the relevant jurisdiction but will continue
to apply without any modification in all other relevant jurisdictions.

 

(l)          The
parties agree, in the circumstances referred to in Section 8.8(j) and if Section 8.8(k) does not apply to attempt to substitute
for any invalid or unenforceable provision in respect of any jurisdiction in which it has been held to be invalid or unenforceable
a valid and enforceable provision which achieves to the greatest extent possible the same effect as would have been achieved by
the provision which is invalid or unenforceable in that jurisdiction. The obligations of the parties in the relevant jurisdiction
under any invalid or unenforceable provision of this Agreement will be suspended while the parties attempt to agree the substitution.

 

8.9          Remedies

 

(a)          The
Purchaser and the Shareholders may not rescind or terminate this Agreement after Closing in any circumstances.

 

(b)          The
only remedy available to the Purchaser or the Shareholders for breach of this Agreement after Closing will be
damages for breach of contract.

 

(c)          This
agreement will be actionable only by the Purchaser or assigns and no other person will be entitled to make any claim or take any
action whatsoever against the Shareholders under or arising out of or in connection with this Agreement or any Transaction Document.

 

		8.10	Set-off. The Purchaser shall be entitled
                                         to set off any claims that relate to this Agreement only, against any obligation under
                                         this Agreement, against the Promissory Note.

 

[Signature
page follows]

 

    	 

    	 

    

 

SCHEDULE
1

 

THE SHAREHOLDERS

 

	Shareholder

    name and
 address	 	Number and

    class of shares
 held in Initio	 	Total aggregate

    % of Purchase
 Price to be
 received	 	Total aggregate

    % of Additional
 Amount to be
 received	 	Total aggregate

    amount (in $) of
 Closing Payment
 to be received	 	 	Amount of

    cash to be
 received at
 Closing	 	 	Nominal value

    of Promissory
 Notes to be
 received at
 Closing	 	 	Total number of

    Purchase Shares
 to be allotted to
 Shareholder at
 Closing	 	% of Working

    Capital
 Additional
 Amount to be
 received or %
 of Working
 Capital
 Reduction

    Amount to be
 paid to
 Purchaser
	Brendan Flood 
 
    
	 	870,000

    Ordinary Shares	 		 	TBD	 	 	7,589,247	 	 	 	2,732,840	 	 	 	2,038,506	 	 	1,783,024

    ($2,674,537)	 	TBD
	Matthew Briand 
  
	 	79,091

    Ordinary Shares	 	 	 	TBD	 	 	1,277,432	 	 	 	863,472	 	 	 	184,213	 	 	153,164

    ($229,747)	 	TBD
	Simon Lythgoe	 	112,987

    Ordinary Shares 
	 	 	 	TBD	 	 	985,617	 	 	 	390,693	 	 	 	264,741	 	 	220,127

    ($330,190)	 	TBD
	Kate Hughes	 	22,598

    Ordinary Shares 
	 	 	 	TBD	 	 	197,123	 	 	 	78,136	 	 	 	52,949	 	 	44,025

    ($66,038)	 	TBD
	Sukong Pang	 	22,598

    Ordinary Shares 
	 	 	 	TBD	 	 	197,123	 	 	 	144,174	 	 	 	52,949	 	 	nil	 	TBD
	Masahiro Nishimura 
	 	22,598

    Ordinary Shares 
	 	 	 	TBD	 	 	197,123	 	 	 	144,174	 	 	 	52,949	 	 	nil	 	TBD

 

    	 

    	 

    

 

SCHEDULE
2

 

PREPARATION
AND FINALISATION OF AUDITED FINANCIAL STATEMENTS AND ADJUSTED EBITDA

 

1.          ACCOUNTING
POLICIES

 

Basis
of preparation of Accounts

 

The
financial statements are prepared under the historical cost convention and in accordance with applicable accounting standards
.

 

Basis
of consolidation

 

The
group financial statements consolidate the financial statements of the company and its subsidiary undertakings.

 

Subsidiary
undertakings are included using the acquisitions method of accounting. Under this method the group profit and loss account and
statement of cashflows include the results and cashflows of subsidiaries from the date of acquisition and to the date of sale
outside the group in the case of disposals of subsidiaries. The purchase consideration has been allocated to the assets and liabilities
on the basis of fair value at the date of acquisition.

 

Revenue

 

Revenue"
means revenue of the Group, determined as follows: (i) revenue for temporary services (recognized at the time that the service
is provided and revenue is recorded on a time and materials basis); (ii) temporary contracting revenue (recognized as gross when
the company acts as principal in the transaction and is at risk for collection); (iii) revenue that does not meet the criteria
for gross revenue reporting (reported on a net basis); (iv) revenue generated when the company permanently places an individual
with a client on a contingent basis (recorded at the time of acceptance of employment); and (v) revenue generated when the company
places an individual with a client on a retained basis (recorded ratably over the period the services are rendered), in a manner
as consistently applied by the Group.

 

Goodwill

 

Positive
goodwill is capitalised , classified as an asset on the
balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of
the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that
the carrying value may not be recoverable.

 

If a subsidiary,
associate or business is subsequently sold or closed, any goodwill arising on acquisition that was written off directly to reserves
or that has not been amortised through the profit and loss account is taken into account in determining the profit or loss on
sale or closure.

 

Amortisation

 

Atomisation is provided
on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic
life

 

Depreciation

 

Depreciation
is provided on tangible fixed assets so as to write off the cost or valuation, less
any estimated residual value, over their expected useful economic life as follows:

 

    	 

    	 

    

 

Asset
class

 

	Asset class	 
	Plant and machinery	Straight Line over Three Years
	Fixtures, fittings and equipment	Straight Line over Three Years
	Computer equipment	Straight Line over Three Years

 

Current
asset investments

 

Current
asset investments are included at the lower
of cost and net realisable value.

 

Deferred
tax

 

Deferred
tax is recognised ,
without discounting,
in respect of all material timing differences between
the treatment of certain items for
taxation and accounting
purposes , which have
arisen but not reversed by the balance sheet
date, except as required by
FRS 19.

 

Deferred
tax is measured at
the rates that are expected to apply in the periods when the timing differences are expected to
reverse, based on
the tax rates and law
enacted at the balance sheet
date.

 

Foreign
currency 

 

Company

 

Transactions
in foreign currencies are recorded at the exchange rate ruling at the date of
the transaction.

 

Monetary
assets and liabilities denominated in foreign
currencies are retranslated
at the closing rates
at the balance sheet date.
All exchange differences
are included in the profit and
loss account.

 

Group

 

The
financial statements of overseas subsidiary undertakings
are translated at the
rate ruling at the
balance sheet date in
respect of assets and liabilities, and
at the average rate in respect
of revenue and expenditure. The exchange
differences arising on the retranslation of opening net
assets is taken directly to reserves. All other translation
differences are taken to
the profit and loss
account with the exception
of differences on foreign currency
borrowings to the extent that they are used to finance
or provide a hedge against group equity investments
in foreign enterprises , which
are taken to reserves together
with the exchange
difference on the net investment in these enterprises.
Tax charges and credits attributable to exchange differences
on those borrowings are
also taken to reserves.

 

Hire
purchase and leasing

 

Rentals
payable under operating leases are charged
in the profit and loss
account on a straight line basis over
the lease term.

 

Financial
instruments

 

Financial
instruments are classified and accounted for, according
to the substance of the contractual arrangement,
as financial assets, financial liabilities or equity instruments .
An equity instrument is any
contract that evidences a residual interest in the assets
of the group after deducting all of
its liabilities . Where
shares are issued, any component that creates a financial
liability of the group is presented as a liability in
the balance sheet. The corresponding dividends relating
to the liability component are charged
as interest expense in the profit
and loss account .

 

    	 

    	 

    

 

Gross
Profit

 

"Gross
Profit" means Revenue less direct costs of services, consisting of payroll, payroll taxes, insurance costs and reimbursable
expenses

 

Adjusted
EBITDA

 

Adjusted
EBITDA” means earnings before interest, taxes, depreciation, amortization, and also excludes business reorganization
costs, impairment of goodwill, and costs incurred outside of the normal course of business or non-recurring costs

 

		2.	  DETERMINING
                                         EBITDA FOR 12 MONTH PERIOD TO DECEMBER 31, 2013

 

2.1           The
Shareholders shall procure that:

 

2.1.1           
the auditors of the Group prepare consolidated accounts in respect of the calendar year ended December 31, 2013 as required by
statute and in accordance with the Accounting Policies and Practices and that the accounts are audited (at the expense of Initio);
and

 

2.1.2           as
soon as practical and in any event by not later than the date which is three months after December 31, 2013, the draft audited
consolidated accounts of Initio and the Subsidiaries ("Relevant Accounts") are delivered to the Shareholders
and the Purchaser, together with a draft statement stating the amount of the Adjusted EBITDA for the 12 month period to December
31, 2013 and the amount of the Purchase Price (the "EBITDA Statement").

 

2.2           The
Purchaser may on or before the date falling 10 Business Days after submission to them of the Relevant Accounts and the draft EBITDA
Statement (the "Response Deadline"), notify the Representatives of the Shareholders in writing (the "Response
Notice") that they do not agree the Purchase Price as stated in the draft EBITDA Statement. The Response Notice must
set out in reasonable detail the area(s) of disagreement or in which further information or explanation or investigation is required
and the adjustments (with a suitable explanation) which, in the opinion of the Purchaser, are required to be made. The items not
identified in the Response Notice as being in dispute or subject to further clarification will be deemed to be agreed. If no Response
Notice is received by the Representatives of the Shareholders on or before the Response Deadline, the Purchaser will be deemed
to have accepted the amount of the Purchase Price set out in the draft EBITDA Statement and such amount will (in the absence of
fraud or manifest error) be final and binding on the parties.

 

2.3           If
a Response Notice is received by the Representatives of the Shareholders on or before the Response Deadline, the Representatives
of the Shareholders and the Purchaser will have until the date falling 10 Business Days after the date on which the Response Notice
is received (the "Resolution Date") to agree the items in dispute and therefore the amounts of the Purchase Price.
The amount so agreed will (in the absence of fraud or manifest error) be final and binding on the parties.

 

2.4           If
a Response Notice is given and therefore the amounts of the Purchase Price do not become final and binding under paragraph 2.3
by the Resolution Date then the matters outstanding or in dispute must be referred to the Expert for final decision in accordance
with paragraph 4 of this Schedule 2. The Expert will decide:

 

2.4.1           the
matters outstanding or in dispute and therefore what revisions (if any) are required to be made to the EBITDA Statement in order
for it to comply with this Agreement; and

 

2.4.2           the
amount of the Purchase Price.

 

2.5           Each
party must procure (so far as they are able) that Initio's auditors, the Shareholders and the Purchaser and their respective Accountants
are given any documents and information as are reasonably required by the other (and not including advice on the Relevant Accounts
and the Profit Statement given to a party by its own Accountants) for the purpose of preparing or reviewing the Relevant Accounts
and the Profit Statement and are given access on reasonable notice and during normal working hours to relevant personnel, records
and information in the control of the relevant party .

 

    	 

    	 

    

 

2.6           The
Sellers and the Purchaser will each pay the costs of their own Accountants and Initio shall pay the cost of the auditors in preparing
the draft Relevant Accounts.

 

		3.	  ADJUSTMENTS

 

3.1           In
determining the Purchase Price there will be added back those items that are agreed between the parties as being exceptional in
nature during and following the due diligence process

 

3.2           EBITDA
for the calendar year ended on December 31, 2013 will not take into account, (whether by way of a deduction, provision or otherwise)
any matter giving rise to a claim under the Warranties or the Tax Covenant to the extent that it has been satisfied.

 

3.3           EBITDA
for the calendar year ended on December 31, 2013 will not take into account any deduction, provision or otherwise which would
fall to be made in respect of a matter which will be capable of giving rise to a claim if and to the extent that the Shareholders
have made payment to the Purchaser of that amount or have acknowledged in writing to the Purchaser their responsibility for the
matter and their acceptance of any potential claim.

 

3.4           There
will be made any other adjustments as may be agreed in writing between the Shareholders and the Purchaser as being fair and reasonable.

 

		4.	  REFERENCES
                                         TO EXPERT

 

4.1           Any
matter or dispute which, under the terms of this Agreement, is to be determined under this paragraph 4 will be determined by an
independent firm of chartered accountants appointed under this paragraph 4 (the "Expert").

 

4.2           
The Shareholders and the Purchaser will use reasonable endeavours to agree the identity of the Expert and terms of engagement
complying with this Agreement with that person by no later than the date 15 Business Days after either of the Purchaser or the
Sellers' Representative first requests the other to approve a named firm for the purpose and provides draft terms of engagement
of that firm. If terms of engagement have not been signed by or on behalf of that firm, the Shareholders and the Purchaser by
that date, either the Purchaser or the Shareholders may apply to have the Expert chosen by the President of the Institute of Chartered
Accountants in England and Wales. The Shareholders and the Purchaser will cooperate in good faith to agree terms of engagement
complying with this Agreement with the firm chosen ("Terms") by no later than 10 Business Days after the date
on which the terms of engagement of the firm chosen by the President as aforesaid are received by both of them. Neither will unreasonably
withhold consent to the terms of engagement of the firm chosen. However, if either the Shareholders or the Purchaser fails to
sign Terms, the firm chosen will be deemed to have been appointed on the Terms (if any) signed by the other and all the parties
to this Agreement will be bound by the terms of the appointment and able to enforce them as if they had been signed by them. The
party which signs the terms (absent its proven fraud or willful default) will not be liable to any of the other parties or any
other person by reason of or otherwise in relation to that appointment. Without limiting the signing party's ability to agree
the terms, the parties agree that the terms may (if the party which signs them deems fit) contain an indemnity in favour of the
Expert and cap on the Expert's liability in terms not materially more onerous than typical terms agreed by the firm in question
for expert determination instructions on transactions of a similar nature.

 

4.3           The
Expert will act on the following basis:

 

    	 

    	 

    

 

4.3.1           as
an expert and not as an arbitrator and his written determination will be final and binding on the parties (save in the event of
fraud or manifest error, in which case the error must be rectified as soon as practical)

 

4.3.2           the
Expert will only be required to decide the matters which this Agreement provides should be decided by the Expert under this paragraph
and not any additional or separate issues subsequently raised by the parties;

 

4.3.3           the
Expert will provide his decision and any calculation, statement or accounts to be provided by the Expert in writing to the parties
on or before the date falling 20 Business Days after the date of the Expert's engagement;

 

4.3.4           the
Shareholders and the Purchaser may make representations to the Expert in writing (and each will copy their representations to
the other party); and

 

4.3.5           except
as set out in this paragraph 4, the Expert may decide on the procedure to be followed in reaching his decision.

 

4.4           The
parties will each use all reasonable endeavours to co-operate with the Expert to enable the decision to be reached in the time
provided in this Agreement. They will give, and so far as they are able to do so will procure that Initio will give, the Expert
all facilities, information and access to their respective premises and personnel, papers, books, accounts and records as the
Expert may require for the purposes of the Expert's decision. If any party does not comply with any request within any time specified
by the Expert, the Expert may make any assumption for the purposes of giving a decision under this Agreement, including any decision
to costs, as the Expert may decide.

 

4.5           The
costs of the Expert will be shared equally by the Purchaser on the one hand and the Shareholders on the other, unless the Expert
decides otherwise.

 

    	 

    	 

    

 

SCHEDULE
3

 

WORKING
CAPITAL CALCUALTION

 

The Working Capital of the Group
will be calculated in line with the Accounting Policies and consistent with UK GAAP as consistently applied by the group.

 

Working Capital is the difference
between the total accounting value of Current Assets and the total accounting value of Current Liabilities.

 

Current Assets means any asset
of the Group which can be realised into cash within a twelve month period

 

Current Liabilities means any
liability of the Group which is expected to be settled within a twelve month period

 

The pro-forma performance of
the Group’s Working Capital across 2013 (per Management Accounts, unaudited) is as follows;

 

	 	 	Jan-13	 	 	Feb-13	 	 	Mar-13	 	 	Apr-13	 	 	May-13	 	 	Jun-13	 	 	Jul-13	 	 	Aug-13	 	 	Sep-13	 
	 	 	Act	 	 	Act	 	 	Act	 	 	Act	 	 	Act	 	 	Act	 	 	Act	 	 	Act	 	 	Act	 
	 	 	GBP	 	 	GBP	 	 	GBP	 	 	GBP	 	 	GBP	 	 	GBP	 	 	GBP	 	 	GBP	 	 	GBP	 
	Current Assets	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Billed Receivables	 	 	6,158,050	 	 	 	6,044,984	 	 	 	6,327,490	 	 	 	6,526,967	 	 	 	6,607,951	 	 	 	6,629,931	 	 	 	6,565,984	 	 	 	6,717,397	 	 	 	7,033,647	 
	Unbilled Receviables	 	 	120,937	 	 	 	164,789	 	 	 	138,647	 	 	 	149,396	 	 	 	152,641	 	 	 	169,059	 	 	 	121,812	 	 	 	150,493	 	 	 	156,529	 
	Other Current Assets	 	 	449,418	 	 	 	576,321	 	 	 	595,219	 	 	 	626,016	 	 	 	630,398	 	 	 	565,387	 	 	 	554,324	 	 	 	579,155	 	 	 	488,087	 
	Balance With Initio	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	Cash	 	 	605,405	 	 	 	467,337	 	 	 	690,948	 	 	 	688,944	 	 	 	422,166	 	 	 	788,509	 	 	 	540,932	 	 	 	664,039	 	 	 	789,450	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total Current Assets	 	 	7,333,810	 	 	 	7,253,430	 	 	 	7,752,303	 	 	 	7,991,323	 	 	 	7,813,155	 	 	 	8,152,886	 	 	 	7,783,052	 	 	 	8,111,083	 	 	 	8,467,712	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Current Liabilities	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Creditors & Accruals	 	 	(2,719,845	)	 	 	(2,829,575	)	 	 	(3,009,516	)	 	 	(2,995,396	)	 	 	(2,969,937	)	 	 	(3,181,083	)	 	 	(3,037,615	)	 	 	(3,059,418	)	 	 	(2,985,916	)
	Asset-Backed Lending	 	 	(4,471,618	)	 	 	(4,288,357	)	 	 	(4,617,371	)	 	 	(4,824,030	)	 	 	(4,662,954	)	 	 	(4,794,069	)	 	 	(4,640,405	)	 	 	(4,974,983	)	 	 	(5,265,763	)
	Balance With Initio	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	Other CL	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total Current Liabilities	 	 	(7,191,463	)	 	 	(7,117,931	)	 	 	(7,626,887	)	 	 	(7,819,426	)	 	 	(7,632,891	)	 	 	(7,975,152	)	 	 	(7,678,020	)	 	 	(8,034,401	)	 	 	(8,251,679	)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Total Working Capital	 	 	142,348	 	 	 	135,499	 	 	 	125,416	 	 	 	171,897	 	 	 	180,264	 	 	 	177,734	 	 	 	105,032	 	 	 	76,682	 	 	 	216,033	 

 

 

    	 

    	 

    

 

SCHEDULE
4

 

MINORITY
SHAREHOLDERS

 

	Minority
 Shareholder's
 name and
 address	 	Entity in which
 shares are held
 and number of
 shares held	 	Total aggregate
 consideration to
 be received (in
 $)	 	 	Consideration to
 be received in
 cash (in $)	 	 	Consideration to
 be received in
 Promissory
 Notes (in $)	 	 	Consideration to
 be received in
 Purchaser
 Shares (number
 of shares)
	Darren Carroll	 	Longbridge Recruitment (Sales & Marketing) Limited	 	 	79,305	 	 	 	31,336	 	 	 	21,346	 	 	$26,623 (17,749 shares)
	Daniel Lewis	 	Longbridge Recruitment (Law) Limited	 	 	25,749	 	 	 	10,174	 	 	 	6,931	 	 	$8,644 (5,763 shares)
	Mark Newton	 	Longbridge Recruitment (Technology Solutions) Limited	 	 	2,078	 	 	 	2,078	 	 	 	nil	 	 	nil
	Monica Rodrigues-Arias	 	Longbridge Recruitment (Technical) Limited	 	 	15,661	 	 	 	6,188	 	 	 	4,215	 	 	$5,258 (3,613 shares)
	Michal Wasilewski	 	Longbridge Recruitment (Technical) Limited	 	 	15,661	 	 	 	6,188	 	 	 	4,215	 	 	$5,258 (3,613 shares)

  

    	 

    	 

    

 

SCHEDULE
5

 

PROFIT
RIGHTS HOLDERS SHAREHOLDERS (MONROE STAFFING)

 

	Minority
 Shareholder's
 name and
 address	 	Entity in
 which rights
 are held	 	Total aggregate
 consideration to
 be received (in
 $)	 	 	Consideration to
 be received in
 cash (in $)	 	 	Consideration to
 be received in
 Promissory
 Notes (in $)	 	 	Consideration to
 be received in
 Purchaser
 Shares (number
 of shares)
	Matt Briand	 	Monroe Staffing Services LLC	 	 	3,458,962	 	 	 	1,489,766	 	 	 	876,293	 	 	1,092,903 (728,602 shares)
	Steve Miller	 	Monroe Staffing Services LLC	 	 	276,717	 	 	 	109,708	 	 	 	74,319	 	 	92,690 (61,793 shares)
	Steve Thompson	 	Monroe Staffing Services LLC	 	 	276,717	 	 	 	109,708	 	 	 	74,319	 	 	92,690 (61,793 shares)
	Paul Polito	 	Monroe Staffing Services LLC	 	 	276,717	 	 	 	109,708	 	 	 	74,319	 	 	92,690 (61,793 shares)
	Erik Schwarz	 	Monroe Staffing Services LLC	 	 	276,717	 	 	 	109,708	 	 	 	74,319	 	 	92,690 (61,793 shares)

 

		Note:	Post Closing Adjustment to be determined

Matt Briand consideration
is in addition to Schedule 1

    	 

    	 

    

 

IN
WITNESS WHEREOF, each of the Parties hereto has executed this Agreement, or has caused this Agreement to be executed on its behalf
by a representative duly authorized, as an instrument under seal, all as of the date first above set forth.

 

	 	PURCHASER:
	 	 
	 	Staffing 360 Solutions, Inc.
	 	 
	 	By:	 
	 	 	Name: Alfonso J. Cervantes
	 	 	Title: President
	 	 
	 	SHAREHOLDERS:
	 	 
	 	 
	 	Brendan Flood
	 	 
	 	 
	 	Matthew Briand
	 	 
	 	 
	 	Simon Lythgoe
	 	 
	 	 
	 	Kate Hughes
	 	 
	 	 
	 	Sukong Pang
	 	 
	 	 
	 	Masahiro Nishimura

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