Document:

STOCK
TRANSFER AGREEMENT

 

THIS
STOCK EXCHANGE AGREEMENT (this “Agreement”), is made and entered this March 31, 2015, to be effective
as of the “IPO Effective Date” (hereinafter defined): (A) Boxlight Corporation (formerly, Logical Choice
Corporation), a Nevada corporation (the “Company”); (C) Logical Choice Corporation, a Delaware corporation
(“LCC”); and (C) Vert Capital Corp., a Delaware corporation (“Vert”, on behalf of
itself and as trustee and escrow agent (the “Escrow Agent”) for the existing holders of Series A preferred
stock of LCC who are listed on Exhibit A annexed hereto and made a part hereof (collectively, the “LCT
Minority Stockholders”). The Company, LCC and Vert are sometimes referred to individually as a “Party”
and collectively as the “Parties.” 

 

WITNESSETH:

 

WHEREAS,
in 2013, LCC was formed by Vert, the owner of 100% of the shares of the common stock of LCC, $0.001 par value per share (the
“LCC Common Stock”); and

 

WHEREAS,
in October 2013, LCC acquired, pursuant to an agreement and plan of merger, 100% of the capital stock of Logical Choice Technologies,
Inc., a Georgia corporation (“LCT”) in exchange for shares of Series A convertible preferred stock of LCC
(the “LCT Series A Preferred”), and Vert is currently the owner of a majority of the outstanding capital stock
of LCT; and

 

WHEREAS,
LCC and LCT has previously sold a division of LCT to an affiliate of Cynthia Kaye (the “LCT Majority Stockholder”),
who has released LCC from any claims to equity of LCC; and

 

WHEREAS,
LCT has subsequently ceased operations and is in the process of liquidation;and

 

WHEREAS,
on September 18, 2014, the Company was organized by Vert as a Nevada corporation to acquire companies engaged in the production,
sale and distribution of products and services primarily used by schools, corporations and governmental agencies for educational
and training purposes (the “Business Strategy”);; and

 

WHEREAS,
the Company is in the process of completing an initial public offering (the “IPO”) of common stock, $0.0001
par value per share of the Company (the “Company Common Stock”); and

 

WHEREAS,
in order to provide the LCT Minority Stockholders with the benefits they would have received had LCC remained in business, on
the date that the registration statement on Form S-1 shall be declared effective by the Securities and Exchange Commission (the
“IPO Effective Date”), the Company shall issue to Vert, as trustee and escrow agent for the LCT Minority Stockholders,
2,500,000 shares of Series A convertible preferred stock of the Company, $0.0001 par value and $1.00 per share liquidation
or stated value, or such lesser number of shares of Series A preferred stock of the Company resulting from any reverse split of
the outstanding capital stock of the Company effected by the Company on or before the IPO Effective Date (the “Company
Series A Preferred Stock”); and 

 

    	- 1 -

    	 

    

 

WHEREAS,
Vert and the board of directors of the Company, LCC and LCT have determined to that the issuance of the Company Series A Preferred
Stock is fair and reasonable to the LCT Minority Stockholders and in the best interests of all parties;

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be
legally bound hereby, the Parties hereto hereby agree as follows:

 

		1.	Agreements
                                         of the Parties.

 

(a) As
at the IPO Effective Date, the Company will issue in the name of Vert a stock certificate evidencing the Company Series A Preferred
Stock. Such Series A Preferred Stock shall be held in trust by Vert for the sole benefit of the LCT Minority Stockholders.

 

(b) As
set forth in the certificate of designations for the Company Series A Preferred Stock annexed hereto as Exhibit B and made
a part hereof (the “Certificate of Designations”), on a date which shall be one (1) year from the IPO
Effective Date, all and not less than all of the shares of Company Series A Preferred Stock, shall automatically
and without any further action or consent of the Parties or the LCT Minority Stockholders, convert into a like number of shares
of Class A Common Stock of the Company.

 

(c) Following
the IPO Effective Date, the Company shall file with the Securities and Exchange Common (the “SEC”) a registration
statement on Form S-1, or other form for registering securities, pursuant to which, inter alia, all of the shares of Class A
Common Stock of the Company issuable upon automatic conversion of the Company Series A Preferred Stock (the “Conversion
Shares”) shall be registered for resale under the Securities Act of 1933, as amended (the “Resale Registration
Statement”). The Company shall use its best efforts to cause such Resale Registration Statement to be declared effective
by the SEC witin one (1) year from the IPO Effective Date.

 

(d) On
a date which shall be the later to occur of (i) one year from the IPO Effective Date, or (ii) the effective date of the Resale
Registration Statement, Vert shall deliver the stock certificate evidencing the Company Series A Preferred Stock to the Company
and the Company shall issue and distribute to the LCT Minority Stockholders all of the shares of Class A common stock of the Company
issuable to the LCT Minority Stockholders upon conversion of such Company Series A Preferred Stock (the “Conversion Shares”).

 

(e)
The names of each of the LCT Minority Stockholders and the number of shares of Company Series A Preferred Stock and Conversion
Shares (assuming a 1:7.665 reverse split of the currently outstanding shares of Company Common Stock) is set forth on Exhibit
A annexed hereto and made a part hereof.

 

(f) As
a condition to receipt of their Conversion Shares, each LCT Minority Stockholder shall acknowledge in a writing acceptable to
the Company that (i) such LCT Minority Stockholder has no further claim to any equity of LCT, the Company or LCC, (ii) such LCT
Minority Stockholder releases each of the Parties to this Agreement from all further claims, demands or causes of action in respect
of all events up to and including the date of such release, and (iii) the information contained in the Resale Registration Statement
with regard to such LCT Minority Stockholder is complete and correct in all material respects.

 

    	- 2 -

    	 

    

 

		2.	Miscellaneous.

 

(a) Notices.
All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed to have been duly given
or made on (i) delivery thereof, if by hand; (ii) upon receipt, if sent by mail (registered or certified mail, postage prepaid,
return receipt requested); (iii) on the second Business Day following deposit, if sent by a recognized overnight delivery service;
or (d) upon transmission, if sent by facsimile transmission (in each case with receipt verified by electronic confirmation), in
each case to the same parties and to the same addresses as are set forth in the Prior Exchange Agreement.
provided, however, that each party hereto shall promptly notify the other Parties
hereto of any change in its contact information, which revised contact information shall thereafter be that Party’s contact
information for purposes of this Agreement until further revised.

 

 (b) Entire
Agreement. This Agreement (including the Exhibit hereto) contain the entire agreement among the Parties with respect to the
subject matter hereof and related transactions and supersede all prior agreements, written or oral, with respect thereto.

 

 (c) Termination. In
the event that the IPO Effective Date shall not occur by December 31, 2015, then this Agreement shall terminate, ab initio.

 

(d) Waivers
and Amendments. This Agreement may be amended, modified, superseded, cancelled, renewed or extended, and the terms and conditions
hereof may be waived, only by a written instrument signed by the Parties hereto or, in the case of a waiver, by the party waiving
compliance. No delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver
thereof, nor shall any waiver on the part of any party of any right, power or privilege hereunder, nor any single or partial exercise
of any right, power or privilege hereunder, preclude any other or further exercise thereof or the exercise of any other right,
power or privilege hereunder. The rights and remedies herein provided are cumulative and are not exclusive of any rights or remedies
which any party may otherwise have at law or in equity.

 

(e) Headings.
The headings in this Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation of
this Agreement.

 

(f) Counterparts.
This Agreement may be executed in one or more original or facsimile counterparts, and by the different Parties hereto in separate
counterparts, by facsimile, portable document format (“pdf”),
or other form of electronic signature, each of which when executed shall be deemed to be an original but all of which taken together
shall constitute one and the same agreement.

 

    	- 3 -

    	 

    

  

(g) Captions.
The headings, titles or captions of the Sections and Sections of this Agreement are inserted only to facilitate reference, and
they are not intended to define, limit, extend or describe the scope or intent of this Agreement or any provision hereof, and
they do not constitute a part hereof or affect the meaning or interpretation of this Agreement or any part hereof.

 

(h)
Assignment. No Party may assign or delegate all or any portion of its rights, obligations or liabilities under this Agreement
without the prior written consent of the other Parties to this Agreement; provided,
however, that the Company may assign any or all of its rights, together with its obligations
hereunder, to any of its Affiliates or to any successor to all or a portion of the assets of the Company, provided
further, however, that if such Affiliate(s) fails to fully and timely perform any of such
obligations, the Company shall fully and promptly perform such obligations as if it were a party thereto.

 

(i) Parties
in Interest. This Agreement shall be binding upon and inure solely to the benefit of each Party hereto and the LCT Minority
Stockholders, and, except as otherwise expressly provided herein, nothing contained in this Agreement, express or implied, is
intended to or shall confer upon any other Person any right, benefit, or remedy of any nature whatsoever under or by reason of
this Agreement.

 

(j) Severability.
If any term or other provision of this Agreement is invalid, illegal, or incapable of being enforced by any rule of law or public
policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect. Upon determination
that any term or other provision is invalid, illegal, or incapable of being enforced, the Parties hereto shall negotiate in good
faith to, or the court making such a determination shall, modify this Agreement so as to effect the original intent of the Parties
as closely as possible in an acceptable manner to the effect that the transactions contemplated hereby are fulfilled to the extent
possible.

 

(k) Governing
Law; Forum. This Agreement and shall be governed by the laws of the State of New York. The Parties hereto do hereby consent
and submit to the venue and jurisdiction of the State or Federal Courts residing in New York, New York as the sole and exclusive
forum for such matters of disputes, and further agree that, in the event of any action or suit as to any matters of dispute among
the Parties, service of process may be made upon the other party by mailing a copy of the summons and/or complaint to the other
party at the address set forth herein. Notwithstanding anything to the contrary contained herein, the Parties may seek equitable
relief, or enforce any final judgment of any such federal or state court residing in New York, New York, in any other jurisdiction
in any manner provided by applicable law.

 

[Balance
of page intentionally left blank – signature page follow]

 

    	- 4 -

    	 

    

  

IN
WITNESS WHEREOF, the Parties have caused their duly authorized representatives to execute this Agreement on the date first above
written.

 

	VERT
    CAPITAL CORP	 	BOXLIGHT
    CORPORATION
	 	 	 	 	 
	By:
    	/s/
    Michael Pope	 	By:
    	/s/
    Mark Elliott
	Name:	Michael
    Pope	 	Name:
    	Mark
    Elliott
	Title:	Managing
    Director	 	Title:	CEO
	 	 	 	 	 
	LOGICAL
    CHOICE CORPORATION	 	 	 
	 	 	 	 	 
	By:	/s/
    Michael Pope	 	 	 
	Name:
    	Michael
    Pope	 	 	 
	Title:	President	 	 	 

 

    	- 5 -

    	 

    

  

Exhibit
A

 

	 Name 
	   	 Series
    A Preferred Stock 	   	 Conversion
                                         Shares 

	   	   	   	   	   
	 Logical
                                         Choice Corporation-Delaware 

        
	   	               1,588,464 	   	                   207,236 
	 Kevin
                                         Shupenia 

        
	   	                   120,479 	   	                      15,718 
	 Equity
                                         Partners 
	   	                      96,010 	   	                      12,526 
	 Ronald
                                         Kaye, Jr. 

        
	   	                      61,840 	   	                        8,068 
	 Mark
                                         Blood 

        
	   	                      56,799 	   	                        7,410 
	 Alpine
                                         Consultants, Inc. 

        
	   	                      56,167 	   	                        7,328 
	 Coggin
                                         Family Intervivos Tr., II 

        
	   	                      56,167 	   	                        7,328 
	 Ronald
                                         Bertucci 

        
	   	                      51,730 	   	                        6,749 
	 Crusader
                                         Printing, LLC 

        
	   	                      46,507 	   	                        6,067 
	 Ralph
                                         Capasso 

        
	   	                      36,214 	   	                        4,725 
	 Shelly
                                         R. DeJesus 

        
	   	                      34,543 	   	                        4,507 
	 Paul
                                         Anthes 

        
	   	                      33,701 	   	                        4,397 
	 Louise
                                         Bertucci 

        
	   	                      22,467 	   	                        2,931 
	 Jay
                                         Forman 

        
	   	                      21,793 	   	                        2,843 
	 Ronald
                                         Stewart 

        
	   	                      17,974 	   	                        2,345 
	 Barbara
                                         Bisel 

        
	   	                      14,042 	   	                        1,832 
	 Victor
                                         Bertucci 

        
	   	                      13,115 	   	                        1,711 
	 Donald
                                         Bertucci 

        
	   	                      13,115 	   	                        1,711 
	 Becky
                                         Milford 

        
	   	                      11,290 	   	                        1,473 
	 Barbara
                                         Smith 

        
	   	                      11,290 	   	                        1,473 
	 Jennifer
                                         Delling 

        
	   	                      11,290 	   	                        1,473 
	 Louis
                                         Gelsomino 

        
	   	                      10,307 	   	                        1,345 
	 James
                                         Anderson 

        
	   	                      10,054 	   	                        1,312 
	 Dolores
                                         A. Miller 

        
	   	                        8,425 	   	                        1,099 
	 Arthur
                                         E. Menna 

        
	   	                        8,425 	   	                        1,099 
	 Dorothy
                                         A. Brayley 

        
	   	                        8,425 	   	                        1,099 
	 Robert
                                         R. Menna 

        
	   	                        8,425 	   	                        1,099 
	 William
                                         J. Menna 

        
	   	                        8,425 	   	                        1,099 
	 Berton
                                         Revocable Living Trust 

        
	   	                        7,499 	   	                            978 
	 Mario
                                         Bertucci 

        
	   	                        7,499 	   	                            978 
	 Charlie
                                         Bertucci 

        
	   	                        7,499 	   	                            978 
	 Bernie
                                         Colter 

        
	   	                        7,049 	   	                            920 
	 Natalie
                                         and Kou Su JT TEN 

        
	   	                        6,740 	   	                            879 
	 Jeff
                                         Delling 

        
	   	                        4,549 	   	                            594 
	 Don
                                         Rosado 

        
	   	                        2,555 	   	                            333 
	 Robert
                                         Meeks 

        
	   	                        2,555 	   	                            333 
	 Patrick
                                         Ireland 

        
	   	                        2,555 	   	                            333 
	 Charles
                                         Kaye 

        
	   	                        2,303 	   	                            300 
	 Phillip
                                         Snelling 

        
	   	                        2,303 	   	                            300 
	 Donna
                                         Ingram 

        
	   	                        2,303 	   	                            300 
	 Ronald
                                         Jordan 

        
	   	                        2,247 	   	                            293 
	 Pam
                                         Estabrooke 

        
	   	                        1,432 	   	                            187 
	 Faith
                                         Deward 

        
	   	                            702 	   	                              92 
	 Douglas
                                         Druschel 

        
	   	                            702 	   	                              92 
	 Elizabeth
    Kaye 	   	 618 	   	                              81 
	 Cary
    Thornton 	   	 337 	   	                              44 
	 James
    Lambert 	   	 116 	   	                              15 
	 Elizabeth
    Atkins 	   	 56 	   	                                7 
	 Jeff
    Boyden 	   	 56 	   	                                7 
	 Kevin
    Brock 	   	 56 	   	                                7 
	 Tina
    L. Combs 	   	 56 	   	                                7 
	 Kellyann
    Davis-Hutchens 	   	 56 	   	                                7 
	 Danny
    Durham 	   	 56 	   	                                7 
	 Wei
    Fank 	   	 56 	   	                                7 
	 Doug
    Hutcheson 	   	 56 	   	                                7 
	 Alan
    W. Johnson 	   	 56 	   	                                7 
	 Anjana
    Vijay Patel 	   	 56 	   	                                7 
	 James
    P. Schrader 	   	 56 	   	                                7 
	 Randall
    Spear 	   	 56 	   	                                7 
	 Jody
    A. Tate 	   	 56 	   	                                7 
	 Averi
    M. Washington 	   	 56 	   	                                7 
	 Charles
    Elliott 	   	 56 	   	                                7 
	 Shere
    Lowery 	   	 56 	   	                                7 
	 Steve
    Hatala 	   	 56 	   	                                7 
	 Total 	   	 2,500,000 	   	 326,158 

 

    	- 6 -

    	 

    

 

Exhibit
B

 

Series
A Preferred Stock Certificate of Designations

 

See Exhibit
4.1 to this registration statement on Form S-1 and related prospectus.

 

    	- 7 -1045 Progress Circle

Lawrenceville, GA 30043

 

May 1, 2015

 

Vert Capital Corp.

10951 W. Pico Boulevard

Los Angeles, California 90064

Attn: Adam Levin and Michael Pope

 

Gentlemen:

 

As you know, Boxlight Corporation, a
Nevada corporation (“Boxlight”) has previously filed a registration statement on Form S-1 with the SEC and is
planning on shortly filing Amendment No. 3 to the registration statement in response to a letter of comments we just received from
the staff of the SEC. We anticipate that Boxlight will complete its initial public offering of common stock (the “IPO”)
within the next few months.

 

This letter will acknowledge that Vert Capital
Corp. (“Vert”) and its affiliates are engaged in the business of investing in and acquiring controlling
or other significant equity interests in a variety of companies. We further acknowledge that Vert is currently the majority stockholder
of Boxlight and will continue to own a significant number of shares of common stock after completion of the IPO. It is also understood
that Michael Pope is, and following completion of the IPO will remain, a member of the Board of Directors of Boxlight.

 

In connection therewith we mutually agree that:

 

(a)Following completion of the IPO, Vert
will continue its investment and acquisition activities and may acquire or seek to acquire businesses that compete with the businesses
now or hereafter engaged in by Boxlight and our prospective subsidiaries, including, without limitation, Everest Display, Inc.
and subsidiaries, Globisens Ltd. and Genesis Collaboration LLC.

 

(b)Subject to completion of the IPO and
thereafter, for so long as Vert and its affiliates remain the majority stockholders of the Company or have the ability to nominate
and elect a majority of the members of our board of directors, they will offer to the board of directors of Boxlight the opportunity
to acquire the securities or assets of all companies sourced by Vert or its affiliates that are engaged in businesses that provide
technology or related products and services to the education and learning industry.

 

(c)In the event such corporate opportunities
become available to Vert or its affiliates, Boxlight’s independent directors will, by majority vote, elect to pursue or elect
not to pursue such opportunity.

 

**************************

 

The balance of this page intentionally
left blank- signature

 

    	 

    	 

    

 

If the above is acceptable, please so indicate
by executing and returning a copy of this letter agreement in the space provided below.

 

Very truly yours,

 

	BOXLIGHT CORPORATION	 
			 
	By: 	/s/ Sheri Lofgren	 
	Name:	Sheri Lofgren, 	 
	Title:	Chief Financial Officer	 
	 	 	 
	ACCEPTED AND AGREED TO:	 
	 	 	 
	VERT CAPITAL CORPORATION	 
	 	 	 
	By: 	/s/ Michael Pope 	 
	Name: 	Michael Pope	 
	Title:	President

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