Document:

Stockade Portfolio Purchase Agreement

 Exhibit 10.1 
 PURCHASE AND SALE AGREEMENT 
 THIS PURCHASE AND SALE AGREEMENT (this
“Agreement”) is executed by and between those various entities listed on Schedule “D” attached hereto and made a part hereof by reference (collectively the “Seller”), and SSTI Acquisitions,
LLC, a Delaware limited liability company (“Purchaser”). 
 In consideration of the mutual covenants and
representations herein contained, and other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree as follows: 
 1.  
 PURCHASE AND SALE 

1.1 Purchase and Sale. Subject to the terms and conditions of this Agreement, Seller hereby agrees to sell and convey to
Purchaser, and Purchaser hereby agrees to purchase from Seller, all of the following described property (herein collectively called the “Property”): 
 (a) Land. (i) That certain tract of land located at 4777 Highway 80 East, Wilmington Island, GA 31410, being more particularly described on Exhibit “A-1”
attached hereto and made a part hereof (herein, “Parcel One”), (ii) that other certain tract of land located at 3015 Ricks Industrial Park Dr., Myrtle Beach, SC 29588, being more particularly described on
Exhibit “A-2” attached hereto and made a part hereof (herein, “Parcel Two”), (iii) that other certain tract of land located at 1060 King George Blvd., Savannah, GA 31419, being more
particularly described on Exhibit “A-3” attached hereto and made a part hereof (herein, “Parcel Three”), (iv) that other certain tract of land located at 782 King George Blvd., Savannah, GA
31419, being more particularly described on Exhibit “A-4” attached hereto and made a part hereof (herein, “Parcel Four”), (v) that other certain tract of land located at 512 Percival Rd.,
Columbia, SC 29206, being more particularly described on Exhibit “A-5” attached hereto and made a part hereof (herein, “Parcel Five”), (vi) that other certain tract of land located at 890
St. Peters Church Rd., Lexington, SC 29072, being more particularly described on Exhibit “A-6” attached hereto and made a part hereof (herein, “Parcel Six”), (vii) that other certain tract
of land located at 1990 NW Federal Hwy 1, Stuart, FL 34994, being more particularly described on Exhibit “A-7” attached hereto and made a part hereof (herein, “Parcel Seven”), (viii) that
other certain tract of land located at 120 Northpoint Dr. Lexington, SC 29072, being more particularly described on Exhibit “A-8” attached hereto and made a part hereof (herein, “Parcel
Eight”), (ix) that other certain tract of land located at 6195 South Kanner Hwy, Stuart FL 34997, being more particularly described on Exhibit “A-9” attached hereto and made a part hereof (herein,
“Parcel Nine”), (x) that other certain tract of land located at 298 Red Cedar St., Bluffton SC 29910, being more particularly described on Exhibit “A-10” attached hereto and made a part
hereof (herein, “Parcel Ten”, and together with Parcel One thru Parcel Nine being collectively referred to as the “Phase One Parcels”), (xi) that other certain tract of land located at 1117 Bowman
Rd., Mt. Pleasant, SC 29464, being more particularly described on Exhibit “A-11” attached hereto and made a part hereof (herein, “Parcel Eleven”), (xii) that other certain tract of land
located at 2343 Savannah Hwy, Charleston, SC 29414, being more particularly described on Exhibit “A-12” attached hereto and made a part hereof (herein, “Parcel Twelve”), (xiii) that other
certain tract of land located at 1533 Ashley River Rd., Charleston, SC 29407, being more particularly described on Exhibit “A-13” attached hereto and made a part hereof (herein, “Parcel
Thirteen”), (xiv) that other certain tract of land located at 1904 Hwy 17 N, Mt. Pleasant, SC 29464, being more particularly described on Exhibit “A-14” attached hereto and made a part hereof (herein,
“Parcel Fourteen”), (xv) that other certain tract of land located at 1951 Maybank Hwy, Charleston, SC 29412, being more particularly described on Exhibit “A-15” attached hereto and made a
part hereof (herein, “Parcel Fifteen”), and (xvi) that other certain tract of land located at 1108 Stockade Ln., Mt. Pleasant, SC 29466, being more particularly described on Exhibit “A-16”
attached hereto and made a part hereof (herein, “Parcel Sixteen”, and Parcels Eleven thru Parcel Sixteen, being collectively referred to as the “Phase Two Parcels”; the Phase One Parcels and the Phase
Two Parcels being collectively called the “Land”, and sometimes individually referred to as a “Parcel”). 

 It is the intent of this Agreement that Seller and Purchaser will close on the Land in
accordance with and subject to the terms of this Agreement. If Purchaser fails to close on the Phase One Parcels for any reason other than Seller’s default or any other provision of this Agreement which allows Purchaser to terminate as to one
or more Parcels, this Agreement shall be terminated. 
 (b) Easements. All easements, if any, benefiting the Land or the
Improvements (as defined in Section 1.1(d) of this Agreement). 
 (c) Rights and Appurtenances. All rights
and appurtenances pertaining to the Land, including any right, title and interest of Seller in and to adjacent streets, alleys or rights-of-way. 
 (d) Improvements. (i) All improvements and related amenities in and on Parcel One, comprising approximately 69,355 net rentable square feet of storage space and 572 rental units, and being
commonly known as “Stockade Storage” (herein, the “Parcel One Improvements”), (ii) all improvements and related amenities in and on Parcel Two, comprising approximately 72,630 net rentable square feet of
storage space and 481 rental units, and being commonly known as “Stockade Storage” (herein, the “Parcel Two Improvements”), (iii) all improvements and related amenities in and on Parcel Three, comprising
approximately 68,740 net rentable square feet of storage space and 588 rental units, and being commonly known as “Stockade Storage” (herein, the “Parcel Three Improvements”), (iv) all improvements and related
amenities in and on Parcel Four, comprising approximately 67,075 net rentable square feet of storage space and 448 rental units, and being commonly known as “Stockade Storage” (herein, the “Parcel Four
Improvements”), (v) all improvements and related amenities in and on Parcel Five, comprising approximately 65,375 net rentable square feet of storage space and 487 rental units, and being commonly known as “Stockade
Storage” (herein, the “Parcel Five Improvements”), (vi) all improvements and related amenities in and on Parcel Six, comprising approximately 35,375 net rentable square feet of storage space and 247 rental units,
and being commonly known as “Stockade Storage” (herein, the “Parcel Six Improvements”), (vii) all improvements and related amenities in and on Parcel Seven, comprising approximately 51,543 net rentable square
feet of storage space and 367 rental units, and being commonly known as “Stockade Storage” (herein, the “Parcel Seven Improvements”), (viii) all improvements and related amenities in and on Parcel Eight,
comprising approximately 86,450 net rentable square feet of storage space and 583 rental units, and being commonly known as “Stockade Storage” (herein, the “Parcel Eight Improvements”), (ix) all improvements
and related amenities in and on Parcel Nine, comprising approximately 54,675 net rentable square feet of storage space and 383 rental units, and being commonly known as “Stockade Storage” (herein, the “Parcel Nine
Improvements”), (x) all improvements and related amenities in and on Parcel Ten, comprising approximately 78,890 net rentable square feet of storage space and 659 rental units, and being commonly known as “Stockade
Storage” (herein, the “Parcel Ten Improvements”, and together with the Parcel One Improvements thru the Parcel Nine Improvements being collectively referred to as the “Phase One Improvements”),
(xi) all improvements and related amenities in and on Parcel Eleven, comprising approximately 40,970 net rentable square feet of storage space and 393 rental units, and being commonly known as “Stockade Storage” (herein, the
“Parcel Eleven Improvements”), (xii) all improvements and related amenities in and on Parcel Twelve, comprising approximately TBD net rentable square feet of storage space and TBD rental units, and also
being commonly known as “Stockade Storage” (herein, the “Parcel Twelve Improvements”), (xiii) all improvements and related amenities in and on Parcel Thirteen, comprising approximately 47,050 net rentable
square feet of storage space and 426 rental units, and also being commonly known as “Stockade Storage” (herein, the “Parcel Thirteen Improvements”), (xiv) all improvements and related amenities in and on Parcel
Fourteen, comprising approximately 63,545 net rentable square feet of storage space and 591 rental units, and also being commonly known as “Stockade Storage” (herein, the “Parcel Fourteen Improvements”),
(xv) all improvements and related amenities in and on Parcel Fifteen, comprising approximately 66,335 net rentable square feet of storage space and 573 rental units, and also being commonly known as “Stockade Storage” (herein, the
“Parcel Fifteen Improvements”), and (xvi) all improvements and related amenities in and on Parcel Sixteen, comprising approximately 195,072 net rentable square feet of storage space and 1,372 rental units, and also being
commonly known as “Stockade Storage” (herein, the “Parcel Sixteen Improvements”, and together with the Parcel Eleven Improvements thru the Parcel Fifteen Improvements being collectively referred to as the
“Phase Two Improvements”; the Phase One Improvements and the Phase Two Improvements being herein collectively called the “Improvements”). 

  
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 (e) Leases. Seller’s interest under (i) all written leases, occupancy
agreements and rental agreements (collectively, the “Leases”) for rental units in the Property, including all tenant leasing files, together with all tenant security deposits held by Seller on the Closing Date (as defined in
Section 6.1 of this Agreement), and (ii) all cellular tower leases and billboard leases relating to the Property, if any, as more particularly described on Schedule “B” attached hereto and incorporated herein (the
“Additional Leases”). 
 (f) Tangible Personal Property. All appliances, fixtures, equipment,
machinery, furniture, carpet, drapes and other items of personal property owned by Seller and located on or about the Land and the Improvements (the “Tangible Personal Property”), including, without limitation, those items of
personal property set forth on Exhibit “D” attached hereto, and further including all golf carts and on site moving trucks owned by Seller or its affiliates, if any, listed on Exhibit “D” hereto (herein
collectively, the “Motor Vehicles”). The golf carts at Stockade Facility “I” at Ridgeland and at Daniel Island will be excluded. Of the five (5) trucks, three (3) trucks will convey and one (1) will
remain at Stockade Facility “I” and one (1) will remain at Daniel Island. 
 (g) Boxes, Packing Supplies,
Quilts and Locks. Prior to Closing, Seller will inventory (subject to verification by Purchaser) all the boxes, packing supplies, quilts and locks and these will be conveyed to Purchaser at closing for the amount of Seller’s costs.

 (h) Contracts. Seller’s interest (to the extent the same is assignable) under the “Contracts” (as
defined below), other than the “Rejected Contracts” (as defined below). 
 (i) Intangible Property. All
intangible property (the “Intangible Property”) owned by Seller and pertaining to the Land, the Improvements, or the Tangible Personal Property, including, without limitation, (i) all “yellow page”
advertisements (Purchaser to pay for yellow page advertisement fees accruing from and after the date of Closing which will be included in the phone bill), (ii) all transferable utility contracts, (iii) all transferable telephone exchange
numbers, including the telephone numbers and telecopy numbers set forth on Exhibit “H” attached hereto, (iv) all plans and specifications, (v) all licenses, permits, engineering plans and landscape plans, (vi) all assignable
warranties and guarantees relating to the Property or any part thereof, (vii) all internet websites and other internet related property rights owned by Seller and/or any affiliate thereof and relating to the Property, including, without
limitation, the domain name “www.stockadestorage.com”, and the website information, paid search campaigns and local listing information listed on Exhibit “J” attached hereto, and
(viii) all of Seller’s right, title and interest in and to the trade name “Stockade Storage”. Provided, however, if Purchaser fails to close the Phase Two Property (hereinafter defined) for any reason other than Seller’s
default or any other provision of this Agreement which allows Purchaser to terminate as to one or more Parcels, the assignments in this Section 1.1(i), (vii) and (viii) above shall automatically terminate and Seller shall have all
rights to reinstate all internet related property, including, without limitation, the domain name “www.stockadestorage.com” and to use the trade name “Stockade Storage”. At the Phase One Closing (as
hereinafter defined), Purchaser shall grant a license to Seller without cost to Seller to use the name “Stockade Storage” for the Phase Two Property, the Stockade Facility “I” at Ridgeland (“Ridgeland Facility”),
the facility at Daniel Island, South Carolina (the “Daniel Island Facility”), and any other facility located on a Parcel of the Property not conveyed to Purchaser under the terms of this Agreement. Seller and Purchaser shall use
commercially reasonable efforts to agree to the form of license agreement during the Approval Period. In addition, after the Phase One Closing, Seller may set up a separate website for the Ridgeland Facility and the Daniel Island Facility and any
other facility located on a Parcel of the Property not conveyed to Purchaser under the terms of this Agreement, and, if Seller elects to set up a website for said facilities, Purchaser agrees to provide a link on the “SmartStop” website to
Seller’s new website. Seller shall not be required to change the name of its existing entities known as: Stockade Storage of Charleston, LLC, Stockade Storage, LLC and Stockade Business Park Association, Inc. 

The Phase One Parcels, the Phase One Improvements and all easements, rights, appurtenances, Leases, Additional Leases, Tangible Personal
Property, Motor Vehicles, Contracts and Intangible Properties associated with the Phase One Parcels and the Phase One Improvements being herein collectively referred to as the “Phase One Property”. 

  
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 The Phase Two Parcels, the Phase Two Improvements and all easements, rights, appurtenances,
Leases, Additional Leases, Tangible Personal Property, Motor Vehicles, Contracts and Intangible Properties associated with the Phase Two Parcels and the Phase Two Improvements being herein collectively referred to as the “Phase Two
Property”. 
 1.2 Excluded Property. Subject to the terms of this Section 1.2, the real property
described on Exhibit “I” attached hereto shall be excluded from the property to be conveyed and/or transferred hereunder. Seller shall be responsible, at its sole cost and expense, for securing a subdivision plat
creating a separate parcel for each Excluded Property (each such plat being referred to herein as a “Replat”). Each Replat shall be subject to the written approval of Purchaser, not to be unreasonably withheld, before such Replat is
submitted or resubmitted for review and approval by any governmental entity. If the Replat for any Excluded Property has not received final approval by the appropriate governmental entity and been filed of record in the applicable real property
records at least twenty (20) days prior to the scheduled Closing Date for said Parcel, the Closing Date for all Parcels included in the phase in which said Excluded Property was to close (i.e., the Phase One Closing or the Phase Two Closing, as
said terms are hereafter defined) shall automatically be extended for thirty (30) days (the “First Extended Closing Date”). Likewise, if the Replat for any Excluded Property has not received final approval by the appropriate
governmental entity and been filed of record in the appropriate real property records at least twenty (20) days prior to the First Extended Closing Date for said Parcel, the First Extended Closing Date for all Parcels included in the phase in
which said Excluded Property was to close shall automatically be extended for an additional thirty (30) days (the “Second Extended Closing Date”). If the Replat for any Excluded Property has not received final approval by the
appropriate governmental entity and been filed of record in the appropriate real property records at least twenty (20) days prior to the Second Extended Closing Date for said Parcel, such Excluded Parcel or Excluded Parcels will be included in
the sale of the Property, with no adjustment to the Purchase Price. 
 2. 

PURCHASE PRICE 
 2.1 Purchase Price. The purchase price for the Property shall be the sum of (i) Thirty Six Million Four Hundred Thousand and no/100 Dollars ($36,400,000.00) for the Phase One Property (herein
referred to as the “Phase One Purchase Price”), and (ii) Forty Million and no/100 Dollars ($40,000,000.00) for the Phase Two Property (herein referred to as the “Phase Two Purchase Price”; the
Phase One Purchase Price and the Phase Two Purchase Price being herein collectively referred to as the “Purchase Price”), subject to prorations and adjustments as set forth in this Agreement, and shall be paid by Purchaser to
Seller at the Parcel One Closing (as hereafter defined) and the Parcel Two Closing (as hereafter defined), respectively, by wire transfer of immediately available funds to the Escrow Agent on the respective Closing Date in accordance with wire
transfer instructions to be provided by the Escrow Agent. The Purchase Price shall be allocated among the projects comprising the Property, as set forth on Schedule “C” attached hereto and incorporated herein. 

3. 
 EARNEST
MONEY 
 3.1 Earnest Money. Purchaser shall deliver to Republic Title of Texas, Inc., 2626 Howell Street, 10th Floor,
Dallas, Texas 75204, Attn: Jennifer Haden (“Escrow Agent”), as agent for Chicago Title Insurance Company (“Title Company”), within three (3) business days after the “Effective
Date” (as defined below), an earnest money deposit (the “Initial Deposit”) in the amount of One Million and no/100 Dollars ($1,000,000.00), which shall be deposited by Escrow Agent in its account with Wells Fargo, N.A.
Prior to the expiration of the “Approval Period” (as defined below), in the event Purchaser elects not to terminate this Agreement, Purchaser shall make an additional earnest money deposit (the “Additional Deposit”)
with Escrow Agent in the amount of One Million and no/100 Dollars ($1,000,000.00), which shall be deposited by Escrow Agent in its account with Wells Fargo, N.A. The Initial Deposit, together with the Additional Deposit, if and when made, and
together with all interest accrued thereon, is herein collectively called the “Earnest Money”. The Earnest Money shall be invested by the Escrow Agent in an FDIC-insured, interest-bearing account with Wells Fargo, N.A.,
separate from other funds held by Escrow Agent, as Purchaser shall direct. If the sale of the Property is consummated under this 

  
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Agreement, the Earnest Money shall be paid to Seller and applied as a credit against the Purchase Price at the Parcel Two Closing. At the time the Additional Deposit is made, the entire Earnest
Money shall become nonrefundable except in the event of a Seller default or other provision of this Agreement which allows Purchaser to terminate and receive a refund of the Earnest Money. If Purchaser terminates this Agreement in accordance with
any right to terminate granted to Purchaser by the terms of this Agreement, the Earnest Money shall be returned to Purchaser, and neither party hereto shall have any further obligations under this Agreement except for such obligations which by their
terms expressly survive the termination of this Agreement (the “Surviving Obligations”). The Earnest Money shall be allocated among the properties comprising the Property, as set forth on Schedule “C”, attached
hereto and incorporated herein, 
 4.  
 CONDITIONS TO CLOSING 
 4.1 Seller’s Obligations. Seller shall
deliver to Purchaser (at Seller’s expense), by July 5, 2012, true, correct, complete and legible copies of all of the due diligence items listed on Schedule “A” attached hereto and incorporated herein with respect to the Property
(collectively, the “Due Diligence Items”). 
 4.1.1 Approval Period. During the period
commencing on the Effective Date and expiring at 5:00 p.m. Central Time on the forty fifth (45th) day following the Effective Date (the “Approval Period”), the following matters shall be conditions precedent to Purchaser’s obligations under this Agreement:

 (a) Purchaser’s being satisfied in Purchaser’s sole discretion that the Property is suitable for
Purchaser’s intended use; and 
 (b) Purchaser’s being satisfied, in Purchaser’s sole discretion,
with all of the Due Diligence Items. 
 Purchaser may (but shall not be obligated to) terminate this Agreement by delivering
written notice of such termination to Seller at any time prior to the expiration of the Approval Period, if, in Purchaser’s sole and absolute discretion, Purchaser decides not to consummate the purchase of the Property contemplated hereby. In
such event, this Agreement will terminate as of the date of such notice, and neither party shall have any further obligation hereunder except for the Surviving Obligations. If, in Purchaser’s sole and absolute discretion, Purchaser determines
that it desires to consummate the purchase of the Property contemplated hereby, then Purchaser will give written notice thereof (the “Closing Notice”) to Seller, prior to the expiration of the Approval Period. In the event
that Purchaser provides Seller with the Closing Notice, then Purchaser will be deemed to have waived its termination rights under this Section 4.1.1, and the parties will proceed to Closing, subject to all other terms and conditions of
this Agreement. If Purchaser does not give Seller the Closing Notice prior to the expiration of the Approval Period and has not previously terminated this Agreement by written notice to Seller, then this Agreement automatically shall terminate upon
the expiration of the Approval Period, and, in such event, neither party shall have any further obligation hereunder except for the Surviving Obligations. In either of such events terminating this Agreement, immediately following written request
from Purchaser to the Escrow Agent, the Escrow Agent shall return all of the Earnest Money to Purchaser, without the consent or joinder of Seller being required and notwithstanding any contrary instructions which might be provided by Seller.

 4.1.2 Title Commitments. Seller shall convey good and marketable title to the Property to Purchaser at Closing,
subject only to the “Permitted Encumbrances” (defined below). Within five (5) days following the Effective Date, Purchaser shall order a title commitment for each of the projects and shall make commercially reasonable efforts to cause
Escrow Agent to deliver the title commitments within thirty (30) days of the Effective Date, comprising the Property (collectively, the “Title Commitments”) for an ALTA Owner’s Policy of Title Insurance for each
such project (collectively, the “Title Policies”), issued by the Escrow Agent on behalf of the Title Company, insuring good and marketable fee simple title to the Property, together with legible copies of all exceptions
listed therein. Purchaser shall have a period of fifteen (15) business days following its receipt of the Title Commitments, legible copies of all exceptions listed therein and the “Surveys” (defined below), to deliver to Seller a
written notice of Purchaser’s objections to title for each project comprising a portion of the Property (individually, a “Title Objection Letter”). Seller shall have the right, but not the obligation, to cure
Purchaser’s objections to title; subject, however, to Seller’s obligation to remove all “Monetary Liens” (as defined below) on or by Closing. Seller shall notify Purchaser in writing within five (5) days following
Seller’s receipt of a Title Objection Letter concerning which title objections, if any, Seller has agreed to cure and Seller shall have thirty (30) days to cure. In the event that Seller does not undertake to cure all of the objections in
each such Title Objection Letter to 

  
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Purchaser’s sole satisfaction (or does not timely respond to any such Title Objection Letter), then each project comprising the Property with respect to which Seller has not agreed to cure
all of Purchaser’s title objections shall be herein referred to as a “Title Objection Property”. Purchaser shall have the right for five (5) days after receipt of Seller’s response to each Title Objection Letter relating to
a Title Objection Property (or five (5) days following the expiration of the period within which Seller was to so respond) to either (i) waive any such title objection in writing and proceed to Closing (in which event such waived title
objection shall be deemed to be a “Permitted Encumbrance”, as defined below), or (ii) terminate this Agreement upon written notice to Seller with respect to such Title Objection Property (or Title Objection Properties, as the case may
be), (b) the parties shall proceed to Closing with respect to the remainder of the Property, with the Purchase Price being reduced by the portion of the Purchase Price allocable to such Title Objection Property (or Title Objection Properties,
as the case may be) with respect to which this Agreement is being terminated, as set forth on Schedule “C” attached hereto, and (c) neither party shall have any further right or obligation hereunder with respect to such Title
Objection Property (or Title Objection Properties, as the case may be) with respect to which this Agreement is being terminated, other than the Surviving Obligations relating thereto. All exceptions set forth in Schedule B of the Title Commitments
which are not objected to by Purchaser (including matters initially objected to by Purchaser which objections are subsequently waived in writing) are herein collectively called the “Permitted Encumbrances”. In the event that
any update to any of the Title Commitments indicates the existence of any liens, encumbrances or other defects or exceptions (the “Unacceptable Encumbrances”) which are not shown in the initial Title Commitments and that are
unacceptable to Purchaser, Purchaser shall within five (5) days after receipt of any such update to such Title Commitment notify Seller in writing of its objection to any such Unacceptable Encumbrance (the “Unacceptable Encumbrance
Notice”). Notwithstanding anything to the contrary contained herein, Seller shall have no obligation to take any steps or bring any action or proceeding or otherwise to incur any expense whatsoever to eliminate or modify any of the
Unacceptable Encumbrances; provided, however, that Seller shall, prior to or at Closing, eliminate by paying, bonding around or otherwise discharging in a manner satisfactory to Purchaser (i) any Unacceptable Encumbrances that arise by, through
or under Seller, and (ii) any mortgages, deeds of trust, deeds to secure debt, mechanics’ liens or monetary judgments that appear on any of the Title Commitments (“Monetary Liens”). In the event Seller is unable,
unwilling or for any reason fails to eliminate or modify all of the Unacceptable Encumbrances to the sole satisfaction of Purchaser (other than the Unacceptable Encumbrances and Monetary Liens required to be removed by Seller in accordance with the
preceding sentence). Purchaser may terminate this Agreement as to the Title Objection property in question by delivering notice thereof in writing to Seller by the earliest to occur of (i) the Closing Date, (ii) five (5) days after
Seller’s written notice to Purchaser of Seller’s intent to not cure one or more of such Unacceptable Encumbrances, or (iii) ten (10) days after the Unacceptable Encumbrance Notice, in the event Seller does not timely respond
thereto. Upon a termination of this Agreement, with respect to a Title Objection Property (or Title Objection Properties, as the case may be) pursuant to the immediately preceding sentence, (x) the parties shall proceed to Closing with respect
to the remainder of the Property, with the Purchase Price being reduced by the portion of the Purchase Price allocable to the applicable Title Objection Property (or Title Objection Properties, as the case may be) with respect to which this
Agreement is being terminated, as set forth on Schedule “C” attached hereto, and (y) neither party shall have any further right or obligation hereunder with respect to the applicable Title Objection Property (or Title Objection
Properties, as the case may be) with respect to which this Agreement is being terminated, other than the Surviving Obligations relating thereto. 
 4.1.3 Surveys. Purchaser shall obtain, at its sole cost and expense, a current, as-built survey prepared by a registered surveyor acceptable to Purchaser for each of the projects comprising the
Property (collectively, the “Survey”), which may be an update of the existing surveys delivered by Seller to Purchaser pursuant to Section 4.1 above. Purchaser shall make commercially reasonable efforts to cause
the surveyor or surveyors to deliver all Surveys within thirty (30) days of the Effective Date. 
 4.1.4 Contracts.
Purchaser shall notify Seller prior to the expiration of the Approval Period which of the “Contracts” (as defined below) Purchaser will require Seller to cancel at Closing (the “Rejected Contracts”), and Seller
hereby agrees to cancel same not later than Closing. However, if any of the Contracts are not terminable upon thirty (30) days notice or less, and without payment of a fee or penalty, then Purchaser agrees to assume such Contracts at Closing,
provided they are assignable. Any Contracts which are not assignable shall be the sole responsibility of Seller, shall be cancelled by Seller on or before Closing, and Seller shall and hereby agrees to indemnify Purchaser from any and all liability
relating thereto, which indemnification obligation expressly shall survive Closing. 

  
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 4.2 Inspection. During the Approval Period, at any time and from time to time during
normal business hours (and thereafter through the Closing Date), upon forty eight (48) hours prior notice to Seller, which may be verbal, Purchaser may inspect, test, and survey: (a) the Property and any and all portions thereof, including
physical and mechanical inspections, (b) all financial and other records pertaining to the operation of the Property, including, but not limited to, all books, records, documents, accounting and management reports of Seller, and
(c) originals of all Leases and Contracts. Notwithstanding the foregoing, Purchaser must obtain Seller’s prior written approval of the scope and method of any environmental testing or investigation (other than a Phase I environmental site
assessment, which shall require no consent or approval of any kind), prior to Purchaser’s commencement of such inspections or testing. Seller shall cooperate in good faith with Purchaser, Purchaser’s agents and independent contractors in
connection with all such inspections, tests and surveys, including obtaining all necessary tenant consents and/or providing adequate notice to tenants regarding Purchaser’s entry into leased areas on the Property, and making available during
normal business hours all relevant personnel to answer any questions which Purchaser may have regarding the Property. Purchaser, at Purchaser’s sole expense, shall repair any and all damage resulting from any of the tests, studies, inspections
and investigations performed by or on behalf of Purchaser pursuant to this Section 4.2, and Purchaser shall indemnify, defend and hold Seller harmless from and against all claims for bodily injury or property damage which may be asserted
against Seller arising out of the tests, studies, inspections and investigations performed by Purchaser hereunder, which obligation of indemnification shall survive the Closing or termination of this Agreement. Prior to any entry onto the Property
by Purchaser or any of its agents, Purchaser shall furnish Seller with evidence that Purchaser maintains a policy of general liability insurance providing premises/operations coverage included under the per occurrence/general aggregate coverage,
having a combined single limit liability of not less than $1,000,000, naming Seller as an additional insured. 
 4.3
Purchaser’s Representations and Warranties. Purchaser represents and warrants to Seller that (a) Purchaser has the full right, power and authority, without the joinder of any other person or entity, to enter into, execute and
deliver this Agreement and to perform all duties and obligations imposed on Purchaser under this Agreement, and (b) neither the execution nor the delivery of this Agreement, nor the consummation of the purchase and sale contemplated hereby, nor
the fulfillment of or compliance with the terms and conditions of this Agreement conflict with or will result in the breach of any of the terms, conditions, or provisions of any agreement or instrument to which Purchaser is a party or by which
Purchaser or any of its assets is bound. Purchaser’s representations and warranties set forth in this Section 4.3 shall survive the Closing or termination of this Agreement. 

4.4 Seller’s Representations and Warranties. 
 (a) Seller represents and warrants to Purchaser that: 
 (i) Seller
has the full right, power, and authority, without the joinder of any other person or entity, to enter into, execute and deliver this Agreement, and to perform all duties and obligations imposed on Seller under this Agreement, 

(ii) neither the execution nor the delivery of this Agreement, nor the consummation of the purchase and sale contemplated
hereby, nor the fulfillment of or compliance with the terms and conditions of this Agreement conflict with or will result in the breach of any of the terms, conditions, or provisions of any agreement or instrument to which Seller is a party or by
which Seller or any of Seller’s assets is bound, 
 (iii) Except for Parcel Eleven, (known as
Stockade Storage “A”) 1117 Bowman Road, Mount Pleasant, South Carolina, which is subject to the litigation matter described on Schedule E, attached hereto, (the “Parcel Eleven Litigation”), there is no existing or pending
(or to Seller’s knowledge threatened) litigation affecting Seller or the Property (Seller shall and hereby agrees to indemnify Purchaser from any and all liability relating to the Parcel Eleven Litigation, which indemnification obligation
expressly shall survive Closing), 
 (iv) Seller has no knowledge of, and has not received any written notice of,
any violation of any governmental requirements (including “Environmental Requirements”, as defined below) concerning the Property, which have not been remedied, 

(v) Seller has no knowledge of, and has not received, with respect to the Property, written notice from any governmental
authority regarding, any change to the zoning classification, any condemnation proceedings or proceedings to widen or realign any street or highway adjacent to the Property or that otherwise affects the Land or the Improvements, 

  
 7 

 (vi) the list of contracts attached hereto as
Exhibit “E” (the “Contracts”), is a true, correct and complete list of all service contracts, equipment leases and/or maintenance agreements affecting the Property, and there are no other
such agreements affecting the Property, 
 (vii) Seller is not a “foreign person” within the meaning of
Sections 1445 and 7701 of the Internal Revenue Code of 1986, as amended, 
 (viii) except for those tenants in
possession of the Property under written leases for space in the Property, as shown on the rent rolls attached hereto as Exhibit “F” (collectively, the “Rent Rolls”), there are no parties
in possession of, or claiming any possession to, any portion of the Property. As shown on Exhibit “F”, there are thirty (30) Related Party Units (“Related Party Units”) which are occupied by Seller or
one of its related entities. Seller may continued to occupy the Related Party Units as a tenant for twelve (12) months rent free after the Closing Date of the Parcel on which said Related Party Units are located. Prior to the expiration of said
twelve (12) month period, Seller shall, or shall cause, the Related Party Units to be vacated or, at Seller’s election, Seller may enter into a lease covering the Related Party Units at the then current facility market rates. The terms of
this Section 4.4(a)(viii) shall survive Closing. 
 (ix) at Closing there will be no unpaid bills or claims
in connection with any repair of the Property by or on behalf of Seller that could result in the filing of a lien against the Property, 
 (x) the Rent Rolls (which are effective as of the date indicated thereon), and as the same shall be updated and recertified at Closing by Seller, are and shall be true, correct and complete in all
material respects and no concessions, discounts or other periods of free or discounted rent have been given other than those reflected on such Rent Rolls, 
 (xi) the financial statements delivered by Seller to Purchaser pursuant to Section 4.1 hereof, and all other information delivered by Seller to Purchaser pursuant to Section 4.1
hereof, are true, correct and complete in all material respects, 
 (xii) Seller has no knowledge, and has
received no notice, regarding any environmental contamination on, at or adjacent to the Property, 
 (xiii)
Seller has not received any written or verbal notice or request from any insurance company or board of fire underwriters (or any organization exercising functions similar thereto) requesting the performance of any work or alterations with respect to
the Property, except those as to which Seller has completed remedial action which has been formally accepted as sufficient by such authority or insurer, 
 (xiv) there are no employment agreements of any kind to which Seller is a party, including union or collective bargaining agreements, which will be binding on Purchaser after the Closing, 

(xv) Seller has no knowledge of any material defects in the drainage systems, foundations, roofs, walls, superstructures,
plumbing, air conditioning and heating equipment, electrical wiring, boilers, hot water heaters or other portions of the Property, and to the best of Seller’s knowledge, the Improvements were constructed substantially in accordance with the
plans and specifications for the construction thereof, 
 (xvi) to the best of Seller’s knowledge, the
Improvements are free from the presence or suspected presence of any form of mold, including those producing mycotoxins, specifically including, but not limited to, Aspergillus, Penicillium, and Stachybotrys, 

(xvii) to the best of Seller’s knowledge, there are no underground storage tanks located on or under the Property,
there are no conditions on, at or relating to the Property which are in non-compliance with “Environmental Requirements” (as defined below), and, to the best of Seller’s knowledge, there are no “Hazardous
Materials” as defined below on, in or under the Property in quantities that require reporting, investigation or remediation under Environmental Requirements. To Seller’s actual knowledge, no tenants of the Property have stored
Hazardous Materials in their units. Seller does hereby disclose to Purchaser that there is a monitoring well at Parcel Thirteen known as Stockade Storage “C” 1533 Ashley River Road, Charleston, South Carolina, 

  
 8 

 (xviii) there are no real estate tax appeals pending with respect to the
Property, and 
 (xix) all Property Apartments are occupied on month-to-month basis. 

Seller shall deliver a certificate to Purchaser at Closing updating and recertifying all of the foregoing representations and warranties
to Purchaser as of the Closing Date. All of the foregoing representations and warranties expressly shall survive the Closing. 

(b) For purposes of this Agreement, “Hazardous Materials” shall mean any substance which is or contains (i) any
“hazardous substance” as now or hereafter defined in §101(14) of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended (42 U.S.C. §9601 et seq.) (“CERCLA”) or any
regulations promulgated under CERCLA; (ii) any “hazardous waste” as now or hereafter defined in the Resource Conservation and Recovery Act (42 U.S.C. §6901 et seq.) (“RCRA”) or regulations promulgated
under RCRA; (iii) any substance regulated by the Toxic Substances Control Act (15 U.S.C. §2601 et seq.); (iv) gasoline, diesel fuel, or other petroleum hydrocarbons; (v) asbestos and asbestos containing materials, in any form,
whether friable or non-friable; (vi) polychlorinated biphenyls; (vii) radon gas; (viii) any radioactive material, including any “source material”, “special nuclear material” or “byproduct material”, as
now or hereafter defined in 42 U.S.C. §2011 et seq.; and (ix) any additional substances or materials which are now or hereafter classified or considered to be hazardous or toxic under “Environmental Requirements” (as defined
below) or the common law, or any other applicable laws relating to the Property. Hazardous Materials shall include, without limitation, any substance, the presence of which on the Property, (A) requires reporting, investigation or remediation
under Environmental Requirements; (B) causes or threatens to cause a nuisance on the Property or adjacent property or poses or threatens to pose a hazard to the health or safety of persons on the Property or adjacent property; or
(C) which, if it emanated or migrated from the Property, could constitute a trespass. Further, for purposes of this Agreement, “Environmental Requirements” shall mean all laws, ordinances, statutes, codes, rules, regulations,
agreements, judgments, orders, and decrees, now or hereafter enacted, promulgated, or amended, of the United States, the states, the counties, the cities, or any other political subdivisions in which the Property is located, and any other political
subdivision, agency or instrumentality exercising jurisdiction over the owner of the Property, the Property, or the use of the Property, relating to pollution, the protection or regulation of human health, natural resources, or the environment, or
the emission, discharge, release or threatened release of pollutants, contaminants, chemicals, or industrial, toxic or hazardous substances or waste or Hazardous Materials into the environment (including, without limitation, ambient air, surface
water, ground water or land or soil). 
 4.5 Conditions Precedent to Closing. It shall be a condition precedent to
Purchaser’s obligations to consummate this transaction that (i) all representations and warranties made herein by Seller are true and correct in all respects as of the Closing Date, (ii) all covenants made by Seller herein are fully
complied with, and (iii) at Closing the Escrow Agent, on behalf of the Title Company, has committed to and does issue the Title Policies, in the form required by this Agreement; provided that in the event the Title Policies are not available at
Closing, then the Escrow Agent shall provide Purchaser at Closing, at Purchaser’s option, with either (a) a “marked title commitment” with respect to each project comprising the Property, committing to issue the Title Policies in
the form required by this Agreement, or (b) a proforma owner’s title policy with respect to each project comprising the Property, in the form required by this Agreement, with the Title Policies to be delivered to Purchaser as promptly
after Closing as reasonably possible, failing which, Purchaser, at its option, and in addition to any other remedy available, shall be entitled to terminate this Agreement and receive a return of the Earnest Money. 

5. 
 COVENANTS
OF SELLER 
 5.1 Insurance. From the Effective Date through and including the Closing Date, Seller agrees to keep the
Property insured for its replacement cost under its current policies against fire and other hazards covered by extended coverage endorsement and commercial general liability insurance against claims for bodily injury, death and property damage
occurring in, on or about the Property, and to pay all premiums for such insurance prior to the applicable due dates. 

  
 9 

 5.2 Operation of Property. From the Effective Date through and including the Closing
Date, Seller agrees to operate and maintain the Property in the normal course of business substantially in accordance with Seller’s past practices with respect to the Property, normal wear and tear excepted. Seller agrees to file real estate
tax appeals with respect to any increase in the appraised value or tax rate affecting the Property in a timely manner. 
 5.3
Third-Party Contracts. From the Effective Date through and including the Closing Date, Seller agrees to enter into only those third-party contracts which are necessary to carry out its obligations under Section 5.2, which shall be
on market terms and cancellable on thirty (30) days written notice or less, without payment of any fee or penalty. 
 5.4
Leasing of Property. From the Effective Date through and including the Closing Date, Seller agrees that any new leases will be entered into in the same manner as the Seller has conducted business in the past twelve (12) months and Seller
will not amend, terminate or accept the surrender of any existing leases, including the Additional Leases, if any, except in the same manner as the Seller has conducted business in the past twelve (12) months. Seller represents and warrants to
Purchaser that (i) no leases have been or shall be entered into with any party that, directly or indirectly, has an ownership interest in Seller, or is otherwise in any manner affiliated with Seller (an “Affiliate”), and
(ii) except for the Related Party Units listed on Exhibit “F” all existing leases have been (and all future leases shall be) entered into only with third parties that are unknown to Seller, any Affiliate of
Seller, and their respective officers, directors, principals, managers, members, partners, shareholders, agents and/or representatives. 
 5.5 Listing of Property for Sale. From the Effective Date through and including the Closing Date, Seller agrees to not list, verbally or in writing, all or any portion of the Property with any
broker or otherwise solicit or make or accept any offers to sell all or any portion of the Property or enter into any contracts or agreements, including back-up contracts, regarding the disposition of all or any portion of the Property. This
limitation does not apply to any of the Excluded Property. 
 5.6 Obligation to Provide Notices. Seller agrees to
promptly provide Purchaser with copies of any and all notices which Seller receives from and after the Effective Date concerning (i) any proposed or threatened condemnation of all or any portion of the Property, (ii) any alleged violations
of all or any portion of the Property with respect to applicable governmental laws or requirements, (iii) any litigation filed or threatened against Seller or all or any portion of the Property, or (iv) any other matter that adversely
affects, or potentially could adversely affect, all or any portion of the Property. 
 5.7 Auction. Prior to Closing,
Seller will conduct an auction for all units that are in default that can be set for auction in compliance with all governmental regulations. All auctions shall be conducted in accordance with the laws of the States of Georgia, Florida, and South
Carolina as applicable. Seller will hold Purchaser and Purchaser’s agents and representatives harmless from any legal actions brought by any tenant as a result of any such auction or any other action of Seller with regard to the sale of a
tenant’s property during the period Seller owned the Property. Seller’s obligations under the immediately preceding sentence expressly shall survive Closing. 
 5.8 Property Apartments. Purchaser intends to interview current individuals who manage the Property for employment by Purchaser’s affiliated management company. In the event the Property
contains one or more apartments (collectively, the “Property Apartments”, whether one or more), whether for the use of the property manager or any other party who is not retained by Purchaser’s affiliated management company, Seller
shall give notice at Closing under the applicable Landlord Tenant Act for the tenant to vacate, Seller shall thereafter diligently seek the removal of the tenant at Seller’s costs and expense. Seller’s obligations contained in this
Section 5.8 expressly shall survive Closing. 

  
 10 

 6. 
 CLOSING 
 6.1 Closing. Assuming that all conditions to closing have
been satisfied and this Agreement has not otherwise been terminated, the consummation of the transaction contemplated hereby shall be held at the offices of the Escrow Agent, located at the address set forth in Section 9.1 hereof, as
follows: 
 (i) the closing for the Phase One Property (the “Phase One Closing”) shall occur on
August 10, 2012 (the “Phase One Closing Date”), subject to automatic extension pursuant to the terms of Section 1.2 above; and 
 (ii) the closing for the Phase Two Property (the “Phase Two Closing”; the Phase One Closing and the Phase Two Closing being sometimes individually referred to herein as the
“Closing”) shall occur on October 31, 2012, subject to automatic extension pursuant to the terms of Section 1.2 above (the “Phase Two Closing Date”; the Phase One Closing Date and the Phase
Two Closing Date being sometimes individually referred to herein as the “Closing Date”). 
 Seller and
Purchaser agree that the Closing shall be consummated through an escrow closing with the Escrow Agent acting as escrow agent, and neither party need be present at Closing. 
 6.2 Possession. Possession of the Property shall be delivered to Purchaser at the Closing, subject only to tenants in possession under the Leases. 

6.3 Proration. All rents, other amounts payable by the tenants under the Leases and the Additional Leases, if any, and all other
income with respect to the Property for the month in which the Closing occurs, to the extent collected by Seller on or before the Closing Date, and real estate and personal property taxes and other assessments with respect to the Property for the
year in which the Closing occurs, shall be prorated to the Closing Date, with Purchaser receiving the benefits and burdens of ownership on the Closing Date. Should any rollback or similar taxes be due and payable on or after Closing with respect to
the transaction contemplated hereby, such taxes shall be the sole responsibility of Seller, and Seller hereby agrees to indemnify and hold Purchaser harmless therefrom, which obligations of Seller expressly shall survive Closing. Utilities shall be
canceled by Seller and reestablished in Purchaser’s name on the Closing Date, if possible; otherwise utilities shall be prorated at Closing. Any amounts unpaid under the Contracts which Purchaser elects to assume at Closing shall be prorated
between Seller and Purchaser at Closing. 
 (a) If Purchaser receives any past due rents due Seller within forty-five
(45) days from the Closing Date, Purchaser shall remit all past due funds to Seller. Thereafter, if Purchaser receives any past due payments due Seller up to the date of Closing such funds shall be retained by Purchaser. Seller agrees that,
after the Closing, it shall not file any eviction action in an effort to collect any outstanding rents that remain owing to Seller after the Closing. 
 (b) If the Closing shall occur before the tax rate or the assessed valuation of the Property is fixed for the then current year, the apportionment of taxes shall be upon the basis of the tax rate for the
preceding year, including all matters appearing on the tax bill for such year, whether ad valorem or non-ad valorem, applied to the latest assessed valuation. The proration at each Closing shall be final. 

6.4 Closing Costs and Credits. Purchaser shall pay, on the Closing Date, (a) all escrow fees and other customary charges of
the Escrow Agent, (b) all recording costs relating to the Deeds, (c) all title insurance costs with respect to the Title Policies, (d) all costs relating to the Surveys, and (e) the fees of Purchaser’s counsel. Seller shall
pay, on the Closing Date, (v) all applicable transfer taxes, grantor’s taxes, documentary stamp taxes, and similar charges relating to the transfer of the Property, (w) all costs and expenses relating to retirement of any and all
indebtedness secured by the Property, including without limitation prepayment penalties, yield maintenance fees, defeasance costs and the costs of recording all mortgage cancellations, and (x) the fees of Seller’s counsel. Purchaser shall
receive a credit at Closing for all security and other deposits made by tenants under the Leases and for any prepaid rents and other amounts related to months following the month in which Closing occurs. Additionally, on the Closing Date, Seller
shall leave petty cash in the amount of Two Hundred and no/100 Dollars ($200.00) on site at each project comprising the Property, which amount shall be reimbursed by Purchaser to Seller at Closing as a credit in favor of Seller on the closing
statement. 

  
 11 

 6.5 Seller’s Obligations at the Closing. At the Closing, or at such other time
as indicated below, Seller shall take such action as the Escrow Agent reasonably requires to consummate the transactions made the subject of this Agreement and shall deliver to Purchaser (or cause to be delivered to Purchaser) such documents as the
Escrow Agent or Title Company reasonably require, including but not limited to the following (it being understood that each party comprising Seller shall deliver one complete set of each of the following closing documents and deliveries relating to
the self storage facility owned by such party): 
 (a) Deeds. A Special Warranty Deed or Limited Warranty
Deed, as applicable, for each of the self storage facilities comprising the Property (collectively, the “Deeds”) conveying the Land and the Improvements to Purchaser, in the forms attached to this Agreement as
Exhibit “B”, subject only the Permitted Encumbrances. The description of the Land provided with the Surveys shall be the legal description used in the Deeds. 

(b) Evidence of Authority. Such organizational and authorizing documents of Seller as shall be reasonably required
by the Escrow Agent to evidence Seller’s authority to consummate the transactions contemplated by this Agreement. 
 (c) Foreign Person. An affidavit of Seller certifying that Seller is not a “foreign person,” as defined in the federal Foreign Investment in Real Property Tax Act of 1980, and the 1984
Tax Reform Act, as amended. 
 (d) Leases. The originals of all of the Leases and the Additional Leases.

 (e) Contracts. The originals of all of the Contracts other than Rejected Contracts, and evidence that
all Rejected Contracts have been cancelled. 
 (f) Termination of Management Agreement. Evidence of the
termination of any and all management agreements affecting the Property, effective as of the Closing Date, and duly executed by Seller and the property manager. 
 (g) Affidavit. An affidavit in the form required by the Escrow Agent to remove any standard exceptions, including mechanics’ liens, parties in possession and similar matters, together with a
GAP Indemnity. 
 (h) Reaffirmation Certificate. A reaffirmation certificate in accordance with the
provisions of Section 4.4(a). 
 (i) Motor Vehicles. Certificates of title, or such other
instruments of assignment as may be necessary to transfer title to the Motor Vehicles, if any, to Purchaser at Closing. 
 (j) Seller’s Closing Statement. Seller shall execute and deliver to the Title Company a Seller’s Closing Statement for each self storage facility comprising the Property, in conformity
with the terms of this Agreement as provided by the Escrow Agent and otherwise in form satisfactory to Seller. 

(k) Boxes, Packing Supplies, Quilts and Locks. At Closing Seller will provide an inventory of all of these items
together with evidence of Seller’s cost which will be reimbursed to Seller at Closing as a separate line item on the Closing Statement. 
 6.6 Purchaser’s Obligations at the Closing. At the Closing, Purchaser shall deliver to Escrow Agent the following: 

(a) Purchase Price. The Phase One Purchase Price at the Phase One Closing (subject to adjustment in connection with
prorations, credits and charges hereunder) and the Phase Two Purchase Price at the Phase Two Closing (net of Earnest Money to be applied against the Phase Two Purchase Price, and subject to adjustment in connection with prorations, credits and
charges hereunder), payment of which shall be made by wire transfer of immediately available funds to the account of the Escrow Agent. 

  
 12 

 (b) Evidence of Authority. Such organizational and authorizing
documents of Purchaser as shall be reasonably required by the Escrow Agent to evidence Purchaser’s authority to consummate the transactions contemplated by this Agreement. 

(c) Purchaser’s Closing Statement. Purchaser shall execute and deliver to the Title Company a Purchaser’s
Closing Statement for each self storage facility comprising the Property, in conformity with the terms of this Agreement, and otherwise in form satisfactory to Purchaser. 
 6.7 Documents to be Executed by Seller and Purchaser. At the Closing, Seller and Purchaser shall also execute and deliver the following: 

(a) Tenant Notices. Signed statements or notices to all tenants of the Property notifying such tenants that the
Property has been transferred to Purchaser and that Purchaser is responsible for security deposits returnable under the Leases and notifying such tenants of the new address where tenants are to make rental payments after the Closing. The amounts of
the security deposits set forth in the tenant notices shall correspond to the security deposits set forth in the Rent Rolls, as updated and certified by Seller in connection with the Closing. 

(b) Assignment of Personal Property, Service Contracts, Warranties and Leases. An Assignment of Personal Property,
Service Contracts, Warranties and Leases with respect to each of the self storage properties comprising the Property (collectively, the “Assignment”), in the form attached to this Agreement as
Exhibit “C”. 
 7.  

RISK OF LOSS 
 7.1 Condemnation. If, prior to the Closing, action is initiated to take all or any portion of any of the self storage facilities comprising the Property (herein, the “Condemnation
Property”), by eminent domain proceedings or by deed in lieu thereof, Purchaser may either at or prior to Closing (a) terminate this Agreement with respect to the Condemnation Property, in which event (i) the allocable portion of the
Deposit for the Condemnation Property, as set forth on Schedule “C” attached hereto (together with all interest accrued thereon), shall be refunded to Purchaser, without the consent or joinder of Seller being required and notwithstanding
any contrary instructions which might be provided by Seller, (ii) the parties shall proceed to Closing with respect to the remainder of the Property, with the Purchase Price being reduced by the portion of the Purchase Price allocable to the
Condemnation Property, as set forth on Schedule “C” attached hereto, and (iii) neither party shall have any further right or obligation hereunder with respect to the Condemnation Property, other than the Surviving Obligations relating
thereto, or (b) consummate the Closing with respect to all of the Property, in which latter event all of Seller’s assignable right, title and interest in and to the award of the condemning authority shall be assigned to Purchaser at the
Closing and there shall be no reduction in the Purchase Price. 
 7.2 Casualty. Seller assumes all risks and liability
for damage to or injury occurring to the Property by fire, storm, accident, or any other casualty or cause until the Closing has been consummated. If any of the self storage facilities comprising the Property (herein, the “Casualty
Property”) suffers any damage in an amount equal to or in excess of One Hundred Thousand and no/100 Dollars ($100,000.00) prior to the Closing from fire or other casualty, Purchaser may either at or prior to Closing (a) terminate this
Agreement with respect to the Casualty Property, in which event (i) the allocable portion of the Deposit for the Casualty Project, as set forth on Schedule “C” attached hereto (together with all interest accrued thereon), shall be
refunded to Purchaser, without the consent or joinder of Seller being required and notwithstanding any contrary instructions which might be provided by Seller, (ii) the parties shall proceed to Closing with respect to the remainder of the
Property, with the Purchase Price being reduced by the portion of the Purchase Price allocable to the Casualty Property, as set forth on Schedule “C” attached hereto, and (iii) neither party shall have any further right or obligation
hereunder with respect to the Casualty Property, other than the Surviving Obligations relating thereto, or (b) consummate the Closing with respect to all of the Property, in which latter event all of Seller’s right, title and interest in
and to the proceeds of any insurance covering such damage, including any and all rent loss insurance proceeds relating to the period from and after the Closing Date, shall be assigned to Purchaser at the Closing and Purchaser shall receive a credit
against the Purchase Price at Closing in an amount equal to the sum of (i) Seller’s deductible under its insurance policy and (ii) the amount of any uninsured or underinsured loss. If any of the self storage facilities comprising the
Property 

  
 13 

 
suffers any damage in an amount less than One Hundred Thousand and no/100 Dollars ($100,000.00) prior to the Closing, Purchaser agrees that it will consummate the Closing with respect to all of
the Property and accept the assignment of the proceeds of any insurance covering such damage, including any and all rent loss insurance proceeds relating to the period from and after the Closing Date (plus receive a credit against the Purchase Price
in an amount equal to the sum of (i) Seller’s deductible under its insurance policy and (ii) the amount of any uninsured or underinsured loss) and there shall be no other reduction in the Purchase Price. 

8.  

DEFAULT 

8.1 Breach by Seller. In the event that Seller shall fail to consummate this Agreement for any reason, except Purchaser’s
default or a termination of this Agreement by Purchaser or Seller pursuant to a right to do so under the provisions hereof, Purchaser shall be entitled, as its sole and exclusive remedies, at law or in equity, to either (i) terminate this
Agreement and receive a refund of the Earnest Money, in which event neither Seller nor Purchaser shall have any further right or obligation hereunder other than the Surviving Obligations, (ii) pursue the remedy of specific performance of
Seller’s obligations under this Agreement or (iii) receive a refund of the Earnest Money, and pursue an action to recover Purchaser’s reasonable third party documented actual damages from Seller, such actual damages to include,
without limitation, all costs and expenses incurred by Purchaser in connection with its efforts to obtain financing for the Property, including, without limitation, all loan application fees, loan deposits, rate lock fees, legal fees and fees of
other third party professionals. It is expressly agreed that a default by any party comprising Seller shall be deemed a default by all parties comprising Seller under this Agreement. 

8.2 Breach by Purchaser. If Purchaser fails to consummate this Agreement for any reason, except Seller’s default or a
termination of this Agreement by Purchaser or Seller pursuant to a right to do so under the provisions hereof, Seller, as its sole and exclusive remedy, may terminate this Agreement and thereupon shall be entitled to receive the Earnest Money as
liquidated damages (and not as a penalty). Seller and Purchaser have made this provision for liquidated damages because it would be difficult to calculate, on the date hereof, the amount of actual damages for such breach, and Seller and Purchaser
agree that the Earnest Money represents a reasonable forecast of such damages. 
 8.3 Notice and Cure. In the event of a
default by Seller or Purchaser under this Agreement, the non-defaulting party shall provide the defaulting party with notice and ten (10) days to cure such default, prior to pursuing any remedies available with respect to such default;
provided, however, that (i) no such notice and cure shall be provided with respect to a party’s default in failing to timely close, or with respect to any party’s anticipatory breach of this Agreement, and (ii) in no event shall
any such notice and cure period result in an extension of the Closing Date. 
 9.  

MISCELLANEOUS 
 9.1 Notices. All notices, demands and requests which may be given or which are required to be given by either party to the other, and any exercise of a right of termination provided by this
Agreement, shall be in writing and shall be deemed effective either: (a) on the date personally delivered to the address below, as evidenced by written receipt therefor, whether or not actually received by the person to whom addressed;
(b) on the third (3rd) business day after being sent, by certified or registered mail, return receipt requested, addressed to the intended recipient at the address specified below; (c) on the first business day after being deposited
into the custody of a nationally recognized overnight delivery service such as Federal Express Corporation, addressed to such party at the address specified below, or (d) on the date delivered by electronic mail to the respective addresses set
forth below. For purposes of this Section 9.1, the addresses of the parties for all notices are as follows (unless changed by similar notice in writing given by the particular party whose address is to be changed): 

 

			
	If to Seller:	 	Edgar A. Buck, Sr.
		 	1911 Maybank Highway
		 	Charleston, SC 29412
		 	Tel: (843)795-6622 / 6910
		 	eab@jupiterhd.com

  
 14 

			
		 	Margaret B. Buck
		 	1911 Maybank Highway
		 	Charleston, SC 29412
		 	Tel: (843)795-6622 / 6910
		 	mbuck@jupiterhd.com
		
		 	Edgar A. Buck, Jr.
		 	78 Ashley Pointe Drive Suite 300
		 	Charleston, SC 29407
		 	Tel: (843) 266-4140
		 	ebuck@jupiterhd.com
		
	with a copy to:	 	J. Sidney Boone, Jr., Esq.
		 	McNair Law Firm, P.A.
		 	100 Calhoun Street, Suite 400
		 	Charleston SC 29401
		 	Tel: (843) 723-7831
		 	sboone@mcnair.net
		
	If to Purchaser:	 	SSTI Acquisitions, LLC
		 	111 Corporate Drive, Suite 120
		 	Ladera Ranch, CA 92694
		 	Attn: H. Michael Schwartz
		 	Tel: (949) 429-6600
		 	Fax: (949) 429-6606
		 	hms@strategiccapital.net
		
	with copies to:	 	SSTI Acquisitions, LLC
		 	5949 Sherry Lane, Suite 1050
		 	Dallas, Texas 75225
		 	Attn: Wayne Johnson
		 	Tel: (214) 217-9797
		 	Fax: (214) 217-9790
		 	wjohnson@sstreit.com
		
		 	and
		 	Mastrogiovanni Schorsch & Mersky, P.C.
		 	2001 Bryan Street, Suite 1250
		 	Dallas, Texas 75201
		 	Attn: Charles Mersky, Esq.
		 	Tel: (214) 922-8800
		 	Fax: (214) 922-8801
		 	cmersky@msandm.com
		
	If to Escrow Agent:	 	Republic Title of Texas, Inc.
		 	2626 Howell Street
		 	10th Floor
		 	Dallas, Texas 75204
		 	Attn: Jennifer Haden
		 	Tel: (214) 754-7750
		 	Fax: (214) 303-0935
		 	jhaden@republictitle.com

  
 15 

 9.2 Real Estate Commissions. Seller and Purchaser hereby represent and warrant to
each other that neither such party has authorized any broker or finder to act on such party’s behalf in connection with the sale and purchase hereunder and neither Seller nor Purchaser has dealt with any broker or finder purporting to act on
behalf of any other party. Purchaser agrees to indemnify and hold harmless Seller from and against any and all claims, losses, damages, costs or expenses of any kind or character arising out of or resulting from any agreement, arrangement or
understanding alleged to have been made by Purchaser or on Purchaser’s behalf with any broker or finder in connection with this Agreement or the transaction contemplated hereby. Seller agrees to indemnify and hold harmless Purchaser from and
against any and all claims, losses, damages, costs or expenses of any kind or character arising out of or resulting from any agreement, arrangement or understanding alleged to have been made by Seller or on Seller’s behalf with any broker or
finder in connection with this Agreement or the transaction contemplated hereby. Notwithstanding anything to the contrary contained herein, this Section 9.2 shall survive the Closing or any earlier termination of this Agreement.

 9.3 Entire Agreement. This Agreement embodies the entire agreement between the parties relative to the subject matter
hereof, and there are no oral or written agreements between the parties, nor any representations made by either party relative to the subject matter hereof, which are not expressly set forth herein. 

9.4 Amendment. This Agreement may be amended only by a written instrument executed by the party or parties to be bound thereby.

 9.5 Headings. The captions and headings used in this Agreement are for convenience only and do not in any way limit,
amplify, or otherwise modify the provisions of this Agreement. 
 9.6 Time of Essence. Time is of the essence of this
Agreement; however, if the final date of any period which is set out in any provision of this Agreement falls on a Saturday, Sunday or legal holiday under the laws of the United States or the States of Georgia, Florida, or South Carolina then, in
such event, the time of such period shall be extended to the next day which is not a Saturday, Sunday or legal holiday. 
 9.7
Governing Law. This Agreement shall be governed by the laws of the States of Georgia, Florida, and South Carolina as concerns the Properties located in each such state, and by the laws of the United States pertaining to transactions in such
States. 
 9.8 Successors and Assigns; Assignment. This Agreement shall bind and inure to the benefit of Seller and
Purchaser and their respective heirs, executors, administrators, personal and legal representatives, successors and permitted assigns. Notwithstanding anything contained in this Agreement to the contrary, Purchaser shall be entitled to assign this
Agreement, without Seller’s consent, to (i) an affiliate of Purchaser, (ii) an entity in which Strategic Storage Operating Partnership, L.P., a Delaware limited partnership and/or Strategic Storage Trust, Inc., a Maryland corporation,
has a direct or indirect ownership interest, (iii) a real estate investment trust of which Purchaser or an affiliate of Purchaser is the external advisor, or (iv) a Delaware statutory trust of which Purchaser or an affiliate of Purchaser
is the signatory trustee (any such party being herein called a “Permitted Assignee”); provided, however, that, until the consummation of the Closing, no such assignment shall release or relieve Purchaser of any liability
hereunder. Additionally, Purchaser further shall have the right to assign its rights under this Agreement to acquire each of the self storage facilities comprising the Property to separate Permitted Assignees. 

9.9 Invalid Provision. If any provision of this Agreement is held to be illegal, invalid or unenforceable under present or future
laws, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Agreement; and, the remaining provisions of this Agreement shall
remain in full force and effect and shall not be affected by such illegal, invalid, or unenforceable provision or by its severance from this Agreement. 
 9.10 Attorneys’ Fees. In the event it becomes necessary for either party hereto to file suit to enforce this Agreement or any provision contained herein, the party prevailing in such suit
shall be entitled to recover, in addition to all other remedies or damages, as provided herein, its reasonable attorneys’ fees incurred in such suit up to and including all trial and appellate levels. Whenever in this Agreement the phrase
“reasonable attorneys fees” or a similar phrase is used, in determining the amount of reasonable attorney’s fees, the provisions of O.C.G.A Section 13-1-11(a)(2) shall not apply, and the parties hereby waive any rights under said
Section. 

  
 16 

 9.11 Multiple Counterparts. This Agreement may be executed in a number of identical
counterparts which, taken together, shall constitute collectively one agreement; in making proof of this Agreement, it shall not be necessary to produce or account for more than one such counterpart with each party’s signature. Facsimile and/or
electronic signature pages shall be effective for purposes of this Section 9.11. 
 9.12 Effective Date. For
purposes of this Agreement, the “Effective Date” shall mean the later of the dates that this Agreement has been executed by Seller and Purchaser, as indicated on the signature page hereof. 

9.13 Exhibits. The following schedules, exhibits and other documents are attached to this Agreement and incorporated herein by
this reference and made a part hereof for all purposes: 
  

	 	(a)	Schedule A, List of Due Diligence Documents 

  

	 	(b)	Schedule B, Cellular Tower Leases and Billboard Leases 

  

	 	(c)	Schedule C, Allocation of Purchase Price and Earnest Money 

  

	 	(d)	Schedule D, List of Seller Entities 

  

	 	(e)	Schedule E, Parcel Eleven Litigation 

  

	 	(f)	Exhibit A-1, the legal description of Parcel One 

  

	 	(g)	Exhibit A-2, the legal description of Parcel Two 

  

	 	(h)	Exhibit A-3, the legal description of Parcel Three 

  

	 	(i)	Exhibit A-4, the legal description of Parcel Four 

  

	 	(j)	Exhibit A-5, the legal description of Parcel Five 

  

	 	(k)	Exhibit A-6, the legal description of Parcel Six 

  

	 	(l)	Exhibit A-7, the legal description of Parcel Seven 

  

	 	(m)	Exhibit A-8, the legal description of Parcel Eight 

  

	 	(n)	Exhibit A-9, the legal description of Parcel Nine 

  

	 	(o)	Exhibit A-10, the legal description of Parcel Ten 

  

	 	(p)	Exhibit A-11, the legal description of Parcel Eleven 

  

	 	(q)	Exhibit A-12, the legal description of Parcel Twelve 

  

	 	(r)	Exhibit A-13, the legal description of Parcel Thirteen 

  

	 	(s)	Exhibit A-14, the legal description of Parcel Fourteen 

  

	 	(t)	Exhibit A-15, the legal description of Parcel Fifteen 

  

	 	(u)	Exhibit A-16, the legal description of Parcel Sixteen 

  

	 	(v)	Exhibit B, the forms of the Deeds 

  

	 	(w)	Exhibit C, the form of the Assignment 

  

	 	(x)	Exhibit D, List of Personal Property 

  

	 	(y)	Exhibit E, List of Contracts 

  

	 	(z)	Exhibit F, Rent Rolls 

  

	 	(aa)	Exhibit G, Letter of Representation 

  

	 	(bb)	Exhibit H, Schedule of Telephone and Fax numbers 

  

	 	(cc)	Exhibit I, Excluded Property 

  

	 	(dd)	Exhibit J, Digital Assets 

9.14 No Recordation. Seller and Purchaser hereby acknowledge that neither this Agreement nor any memorandum or affidavit thereof
shall be recorded in the public records of any county. 
 9.15. Tax-Deferred Exchange. Seller may structure its sale of
all or any portion of the Property to qualify such transfer as an exchange of property pursuant to Section 1031 of the Internal Revenue Code. Purchaser shall execute such documents as reasonably required to consummate such an exchange provided
that Purchaser will not (i) take title to any property other than the Property, (ii) incur any costs or expense or (iii) incur any liability, direct or contingent, in connection with Seller’s exchange and that Seller’s
exchange shall not be a condition to this Agreement or delay Closing. Seller shall indemnify and hold Purchaser harmless from any such costs, expenses and liabilities incurred by Purchaser as a result of any exchange transaction entered into by
Seller. 
 9.16 Confidentiality. Seller and Purchaser hereby covenant and agree that, at all times after the Effective
Date and continuing after the Closing, unless consented to in writing by the other party (which consent may be granted or withheld in the sole discretion of the party whose consent is being requested), no press release or other public disclosure
concerning this transaction shall be made by or on behalf of Seller or Purchaser, and each party agrees to use 

  
 17 

 
best efforts to prevent disclosure of this transaction by any third party. Notwithstanding the foregoing, (i) each party shall be entitled to make disclosures concerning this Agreement and
materials provided hereunder to its lenders, attorneys, accountants, employees, agents and other service professionals as may be reasonably necessary in furtherance of the transactions contemplated hereby, (ii) Purchaser shall be entitled to
make disclosures concerning this transaction and materials provided hereunder to its potential debt and equity sources, and (iii) each party shall be entitled to make such disclosures concerning this Agreement and materials provided hereunder
as may be necessary to comply with any court order or directive of any applicable governmental authority. The provisions of this Section 9.16 shall survive Closing or any termination of this Agreement. 

9.17 Independent Consideration. Contemporaneously with the execution hereof, Purchaser shall deliver to Seller the sum of One
Hundred and no/100 Dollars ($100.00), representing independent consideration for the Approval Period and Purchaser’s right to terminate this Contract during the Approval Period pursuant to the provisions hereof. 

9.18 As-Is. Notwithstanding anything to the contrary contained in this Agreement, but subject to Seller’s representations and
warranties set forth in this Agreement and in the documents to be executed by Seller at Closing, Purchaser shall acquire the Property from Seller at Closing in its then “as-is, where is” condition, without any other representations or
warranties from Seller, express or implied, including any warranty of merchantability, habitability or fitness for a particular purpose. 
 9.19 Non-Competition. Seller shall deliver a non-compete agreement (the “Non-Compete Agreement”) to Purchaser at Closing in form and content satisfactory to Purchaser. The Non-Compete
Agreement shall provide that neither Seller nor any of its principals, partners, members, directors, officers, shareholders and/or affiliates may directly or indirectly develop, own, lease, manage or operate a self storage facility for a period of
two (2) years subsequent to the Closing within a two (2) mile driving distance of any of the self storage facilities comprising the Property; provided that the operation by Seller of Storage “I” located at 5 Stockade Lane,
Ridgeland, South Carolina, the management of the Daniel Island facility for The Daniel Island Company, and any other facility located on a Parcel of the Property not conveyed to Purchaser under the terms of this Agreement, shall be excluded from the
Non-Compete Agreement. In addition, the Non-Compete Agreement shall not apply to any of the properties under the Phase Two Parcels if Purchaser fails to close the Phase Two Parcels. 

9.20 Cooperation with Purchaser’s Auditors and SEC Filing Requirements. 

A. From the Effective Date through and including seventy five (75) days after the Closing Date, Seller shall provide to Purchaser
(at Purchaser’s expense) copies of, or shall provide Purchaser access to, the books and records with respect to the ownership, management, maintenance and operation of the Property and shall furnish Purchaser with such additional information
concerning the same as Purchaser shall reasonably request and which is in the possession or control of Seller, or any of its affiliates, agents, or accountants, to enable Purchaser (or Strategic Storage Operating Partnership,
L.P. or Strategic Storage Trust, Inc.), to file its or their Form 8-K, if, as and when such filing may be required by the Securities and Exchange Commission (“SEC”). At Purchaser’s sole cost and expense, Seller shall allow
Purchaser’s auditor (Reznick Group, P.C. or any successor auditor selected by Purchaser) to conduct an audit of the income statements of the Property for the calendar year prior to Closing (or to the date of Closing) and one (1) prior
year, (unless required by Purchaser’s auditor then for two (2) prior years) and shall cooperate (at no cost to Seller) with Purchaser’s auditor in the conduct of such audit. In addition, Seller agrees to provide to Purchaser’s
auditor a letter of representation substantially in the form attached hereto as Exhibit “G”, and, if requested by such auditor, historical financial statements for the Property, including income and balance sheet data for the
Property, whether required before or after Closing. Without limiting the foregoing, (i) Purchaser or its auditor may audit Seller’s operating statements of the Property, at Purchaser’s expense, and Seller shall provide such
documentation as Purchaser or its auditor may reasonably request in order to complete such audit, (ii) Seller shall furnish to Purchaser such financial and other information as may be reasonably required by Purchaser to make any required
filings with the SEC or other governmental authority; provided, however, that the foregoing obligations of Seller shall be limited to providing such information or documentation as may be in the possession of, or reasonably obtainable by,
Seller, or its agents and accountants, at no cost to Seller, and in the format that Seller (or its affiliates, agents or accountants) have maintained such information, and (iii) Seller and Purchaser acknowledge and agree that the
letter of representation to be delivered by Seller to Purchaser substantially in the form attached hereto as Exhibit “G” is not intended to expand, extend, supplement or increase the representations and warranties made by Seller to
Purchaser pursuant to the terms and provisions of this Agreement or to expose Seller to any risk of 

  
 18 

 
liability to third parties. The provisions of this Section 9.20 shall survive Closing. Seller shall not be required to furnish financial information for any non-self storage properties owned
by the selling entity that are not being transferred and not defined as “Property” herein. 
 B. Although the
Representation Letter is premised upon Seller utilizing generally accepted accounting principles (“GAAP”), Seller has informed Purchaser that Seller’s books and records are not kept in accordance with GAAP, but rather use the modified
cash and accrual basis method of accounting. Inasmuch as the Representation Letter requires that Seller’s books and records be kept in accordance with GAAP, Purchaser has agreed, at its expense, to have its auditors convert Seller’s
books and records to GAAP, prior to Seller executing the Representation Letter, and Seller agrees to so execute the Representation Letter following the conversion of its books and records to GAAP by Purchaser’s auditors. 

9.21 Joint and Several Liability. Notwithstanding anything to the contrary set forth in this Agreement, each party comprising
Seller shall be jointly and severally liable for all of the obligations, responsibilities and liabilities of the “Seller” under this Agreement, and all representations and warranties of the “Seller” set forth in this Agreement
shall be deemed to have been made jointly and severally by each party comprising Seller. The provisions of this Section 9.21 expressly shall survive the termination or closing of this Agreement. 

9.22 Counterparts. This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an
original and of all of which shall be deemed an original and all of which together shall constitute one and the same instrument. Acceptance of this Agreement may be made by facsimile transmission and the undersigned hereby stipulates that each
signature herein shall be deemed to be an “electronic signature” within the meaning of the Georgia Electronic Records and Signatures Act, O.C.G.A. 10-12-1, et seq. 
 9.23 Sign Faces. Seller may remove all of Seller’s signs which refer to Stockade Storage on the day after Closing, at Seller’s sole cost and expense, and Purchaser agrees to cooperate
with Seller’s removal of said signs by providing Seller with access to the Property for said purposes during normal business hours on the day after Closing. Seller, at Seller’s sole expense, shall repair any and all damage resulting from
the removal of signage at the Property performed by or on behalf of Seller pursuant to this Section 9.23, and Seller shall indemnify, defend and hold Purchaser harmless from and against all claims for bodily injury or property damage
which may be asserted against Purchaser arising out of the removal of the signage by Seller or its agents, which obligation of indemnification shall survive the Closing. Prior to any entry onto the Property by Seller or any of its agents, Seller
shall furnish Purchaser with evidence that Seller maintains a policy of general liability insurance providing premises/operations coverage included under the per occurrence/general aggregate coverage, having a combined single limit liability of not
less than $1,000,000, naming Purchaser as an additional insured. The terms of this Section shall survive Closing. If Seller does not remove the signs, Purchaser may remove the signs with no obligation to return the signs to Seller. 

9.24 Radon. As required by § 404.056, Florida Statutes, the following notification is made regarding radon gas: Radon is
a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found
in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit. 
 9.25 Termination. If Purchaser and Seller have not reached an agreement acceptable to both parties by 6:00 pm EDT on June 19, 2012, any offer to sell or any offer to purchase shall terminate
and thereafter neither party shall have any obligations to the other. TIME IS OF THE ESSENCE. 
 [Remainder of
page intentionally left blank and signature page to follow] 

  
 19 

 Executed under seal to be effective as of the Effective Date. 

 

					
	SELLER:
	
	Owner of Parcels One, Fourteen, Sixteen
	
	 BUCK INVESTMENTS, LIMITED COMPANY,
 a South Carolina limited liability company

			
	By:	 	 /s/ Edgar A. Buck, Jr.
	 	(SEAL)
		 	Edgar A. Buck, Jr.	 	
		 	Managing Member	 	
		
	Date: June 19, 2012	 	
	
	Owner of Parcels Five, Six, Seven, Eight
	
	 STOCKADE STORAGE, LLC,
 a South Carolina limited liability company

			
	By:	 	 /s/ Edgar A. Buck, Jr.
	 	(SEAL)
		 	Edgar A. Buck, Jr.	 	
		 	Managing Member	 	
		
	Date: June 19, 2012	 	
	
	Owner of Parcels Nine, Ten, Eleven, Twelve, Thirteen, Fifteen
	
	 STOCKADE STORAGE OF CHARLESTON, LLC,
 a South Carolina limited liability company

			
	By:	 	 /s/ Edgar A. Buck
	 	(SEAL)
		 	Edgar A. Buck, Member	 	
			
	By:	 	 /s/ Margaret A. Buck
	 	(SEAL)
		 	Margaret A. Buck, Member	 	
		
	Date: June 19, 2012	 	
	
	Owner of Parcels Two, Three, Four
	
	 SSW, LLC,
 a South
Carolina limited liability company

			
	By:	 	 /s/ Edgar A. Buck, Sr.
	 	(SEAL)
		 	Edgar A. Buck, Sr., Manager	 	
			
	By:	 	 /s/ Edgar A. Buck, Jr.
	 	(SEAL)
		 	Edgar A. Buck, Jr., Manager	 	
		
	Date: June 19, 2012	 	

  
 20 

					
	PURCHASER:
	
	 SSTI Acquisitions, LLC,
 a Delaware limited liability company

			
	By:	 	 /s/ H. Michael Schwartz
	 	(SEAL)

					
	Name:	 	H. Michael Schwartz	 	

					
	Title:	 	President	 	
		
	Date:	 	June 19, 2012

  
 21 

 SCHEDULE “C” 

ALLOCATION OF PURCHASE PRICE 
 PHASE ONE 
 [TO BE VERIFIED BY PURCHASER] 

 

									
	 Parcel
	  	 Seller Identification
	  	 Property Address
	  	Allocable Portion of
Purchase Price	 
				
	ONE	  	G	  	 4777 Highway 80 East

Wilmington Island, GA 31410
	  	$	8,660,000.00	  
				
	TWO	  	H	  	 3015 Ricks Industrial Park Dr.

Myrtle Beach, SC 29588
	  	$	3,000,000.00	  
				
	THREE	  	J	  	 1060 King George Blvd.

Savannah, GA 31419
	  	$	2,800,000.00	  
				
	FOUR	  	K	  	 782 King George Blvd.

Savannah, GA 31419
	  	$	2,500,000.00	  
				
	FIVE	  	L	  	 512 Percival Rd.
 Columbia, SC
29206
	  	$	1,870,00.00	  
				
	SIX	  	M	  	 890 St. Peters Church Rd.

Lexington, SC 29072
	  	$	1,800,000.00	  
				
	SEVEN	  	N	  	 1990 NW Federal Hwy 1
 Stuart,
FL 34994
	  	$	2,850,000.00	  
				
	EIGHT	  	O	  	 120 Northpoint Dr.
 Lexington,
SC 29072
	  	$	3,750,000.00	  
				
	NINE	  	P	  	 6195 South Kanner Hwy
 Stuart
FL 34997
	  	$	4,170,000.00	  
				
	TEN	  	Q	  	 298 Red Cedar St.
 Bluffton SC
29910
	  	$	5,000,000.00	  
		  		  		  	  
	  
	 
				
	TOTAL	  		  		  	$	36,400,000.00	  
		  		  		  	  
	  
	 

  
 22 

 PHASE TWO 

 

									
	 Parcel
	  	 Seller Identification
	  	 Property Address
	  	Allocable Portion of
Purchase Price	 
				
	ELEVEN	  	A	  	 1117 Bowman Rd.
 Mt.
Pleasant, SC 29464
	  	$	3,500,000.00	  
				
	TWELVE	  	B	  	 2343 Savannah Hwy

Charleston, SC 29414
	  	$	3,000,000.00	  
				
	THIRTEEN	  	C	  	 1533 Ashley River Rd.

Charleston, SC 29407
	  	$	3,500,000.00	  
				
	FOURTEEN	  	D	  	 1904 Hwy 17 N
 Mt. Pleasant,
SC 29464
	  	$	7,000,000.00	  
				
	FIFTEEN	  	E	  	 1951 Maybank Hwy

Charleston, SC 29412
	  	$	7,000,000.00	  
				
	SIXTEEN	  	F	  	 1108 Stockade Ln.,
 Mt.
Pleasant, SC 29466
	  	$	16,000,000.00	  
		  		  		  	  
	  
	 
				
	 TOTAL
	  		  		  	$	40,000,000.00	  
		  		  		  	  
	  
	 

  

					
	 PHASE ONE:
	  	$	36,400,000.00	  
	 PHASE TWO: 
	  	$	40,000,000.00	  
		  	  
	  
	 
		
	 TOTAL: 
	  	$	76,400,000.00	  
		  	  
	  
	 

  
 EXHIBIT J 

DIGITAL ASSETS – PAGE 1Exhibit 10.1

 Exhibit 10.1 
 Execution Copy 
 ASSET PURCHASE AGREEMENT 

among 

3M COMPANY, 
 CERTAIN SUBSIDIARIES OF 3M COMPANY, 
 FEDERAL SIGNAL CORPORATION

 and 
 CERTAIN SUBSIDIARIES OF FEDERAL SIGNAL CORPORATION 
 Dated as of
June 20, 2012 

 TABLE OF CONTENTS 

 

							
	ARTICLE 1 DEFINITIONS	  	 	2	  
	1.1	 	 Certain Definitions
	  	 	2	  
	1.2	 	 Terms Defined Elsewhere in this Agreement
	  	 	8	  
	1.3	 	 Interpretation
	  	 	10	  
	ARTICLE 2 PURCHASE AND SALE	  	 	11	  
	2.1	 	 Assets
	  	 	11	  
	2.2	 	 Excluded Assets
	  	 	12	  
	2.3	 	 Assumed Liabilities
	  	 	13	  
	2.4	 	 Retained Liabilities
	  	 	14	  
	2.5	 	 Closing
	  	 	15	  
	2.6	 	 Purchase Price
	  	 	16	  
	2.7	 	 Escrow
	  	 	17	  
	2.8	 	 Prorations
	  	 	17	  
	2.9	 	 Purchase Price Allocation
	  	 	17	  
	2.10	 	 Title and Risk
	  	 	18	  
	ARTICLE 3 REPRESENTATIONS AND WARRANTIES OF SELLER PARENT	  	 	18	  
	3.1	 	 Status of the Sellers
	  	 	18	  
	3.2	 	 Financial Matters
	  	 	20	  
	3.3	 	 Taxes
	  	 	22	  
	3.4	 	 Real and Personal Property
	  	 	22	  
	3.5	 	 Intellectual Property
	  	 	23	  
	3.6	 	 Loans and Contracts
	  	 	26	  
	3.7	 	 General Employee Matters; Withholdings; Employee Plans and Benefits
	  	 	29	  
	3.8	 	 Litigation and Other Proceedings
	  	 	31	  
	3.9	 	 Compliance with Laws
	  	 	31	  
	3.10	 	 Environmental Matters
	  	 	32	  
	3.11	 	 Bank Accounts
	  	 	32	  
	3.12	 	 Brokers and Commissions
	  	 	32	  
	3.13	 	 Suppliers
	  	 	32	  
	3.14	 	 Customers
	  	 	33	  
	3.15	 	 Warranties; Products
	  	 	33	  
	3.16	 	 Affiliate Transactions
	  	 	33	  
	3.17	 	 Capital Expenditures
	  	 	33	  
	3.18	 	 Accounts Receivable
	  	 	33	  
	3.19	 	 Sufficiency of Assets
	  	 	33	  
	3.20	 	 Condition of Assets
	  	 	33	  
	3.21	 	 Compliance with Anticorruption Laws
	  	 	34	  
	3.22	 	 Trade Compliance Matters
	  	 	35	  
	3.23	 	 Conditions Affecting the Sellers
	  	 	35	  
	3.24	 	 Disclosure
	  	 	35	  
	3.25	 	 No Other Representations
	  	 	35	  
	ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF THE BUYER	  	 	35	  
	4.1	 	 Status of Buyer Parent
	  	 	35	  
	4.2	 	 Brokers and Commissions
	  	 	36	  
	ARTICLE 5 COVENANTS OF THE SELLERS	  	 	37	  
	5.1	 	 Conduct of Business by the FS Tech Entities
	  	 	37	  
	5.2	 	 Affirmative Covenants Relating to the FS Tech Entities
	  	 	38	  
	5.3	 	 Consents and Closing Conditions
	  	 	39	  

  
 - i -

							
	5.4	 	 Access to Information
	  	 	40	  
	5.5	 	 Non-Solicitation
	  	 	41	  
	5.6	 	 Confidentiality
	  	 	41	  
	5.7	 	 Exclusivity
	  	 	41	  
	5.8	 	 Termination of Intercompany Arrangements
	  	 	41	  
	5.9	 	 Covenant Not to Compete
	  	 	41	  
	5.10	 	 Further Assurances
	  	 	42	  
	5.11	 	 Discharge of Business Obligations
	  	 	43	  
	5.12	 	 Maintenance of Books and Records
	  	 	43	  
	5.13	 	 Payments Received
	  	 	43	  
	5.14	 	 Use of Name
	  	 	43	  
	5.15	 	 Software Escrow Agreement
	  	 	43	  
	5.16	 	 Transitional Use of Retained Mark
	  	 	44	  
	5.17	 	 UK Employee Information
	  	 	44	  
	5.18	 	 Referrals
	  	 	44	  
	ARTICLE 6 COVENANTS OF THE BUYER	  	 	44	  
	6.1	 	 Consents and Closing Conditions
	  	 	44	  
	6.2	 	 Books and Records
	  	 	45	  
	6.3	 	 Further Assurances
	  	 	46	  
	6.4	 	 Additional Buyer Entities
	  	 	46	  
	6.5	 	 Pre-Closing Warranty Claims
	  	 	46	  
	6.6	 	 Laptop and Desktop Computers
	  	 	46	  
	6.7	 	 Payments Received
	  	 	46	  
	ARTICLE 7 TAX AND EMPLOYEE MATTERS	  	 	47	  
	7.1	 	 Proration of Taxes and Tax Return Filings
	  	 	47	  
	7.2	 	 Value Added Tax
	  	 	48	  
	7.3	 	 Employee Matters
	  	 	48	  
	7.4	 	 UK Employees
	  	 	50	  
	7.5	 	 Cooperation and Records Retention
	  	 	53	  
	ARTICLE 8 BUYER’S CONDITIONS TO CLOSING	  	 	53	  
	8.1	 	 Representations and Warranties
	  	 	53	  
	8.2	 	 Performance of Covenants
	  	 	53	  
	8.3	 	 Consents
	  	 	53	  
	8.4	 	 No Litigation
	  	 	53	  
	8.5	 	 No Orders
	  	 	53	  
	8.6	 	 Antitrust Laws
	  	 	54	  
	8.7	 	 Release of any Guarantor Obligations
	  	 	54	  
	8.8	 	 Lien Releases
	  	 	54	  
	8.9	 	 Closing Documents
	  	 	54	  
	ARTICLE 9 THE SELLERS’ CONDITIONS TO CLOSING	  	 	55	  
	9.1	 	 Representations and Warranties
	  	 	55	  
	9.2	 	 Performance of Covenants
	  	 	55	  
	9.3	 	 Consents
	  	 	55	  
	9.4	 	 No Litigation
	  	 	55	  
	9.5	 	 No Orders
	  	 	55	  
	9.6	 	 Antitrust Laws
	  	 	55	  
	9.7	 	 Closing Documents
	  	 	56	  
	ARTICLE 10 ITEMS TO BE DELIVERED AT CLOSING	  	 	56	  
	10.1	 	 Items to be Delivered by the Sellers
	  	 	56	  
	10.2	 	 Items to be Delivered by the Buyer
	  	 	57	  
	10.3	 	 Local Actions
	  	 	58	  
	10.4	 	 Third Party Consents
	  	 	58	  

  
 - ii -

							
	ARTICLE 11 TERMINATION	  	 	58	  
	11.1	 	 Termination by Mutual Consent
	  	 	58	  
	11.2	 	 Termination by either Buyer Parent or Seller Parent
	  	 	58	  
	11.3	 	 Termination by Buyer Parent
	  	 	59	  
	11.4	 	 Termination by Seller Parent
	  	 	59	  
	11.5	 	 Effect of Termination and Abandonment
	  	 	59	  
	ARTICLE 12 SURVIVAL; INDEMNIFICATION	  	 	59	  
	12.1	 	 Survival
	  	 	59	  
	12.2	 	 Indemnification by Seller Parent
	  	 	60	  
	12.3	 	 Indemnification by the Buyer
	  	 	61	  
	12.4	 	 Notice of Claims
	  	 	62	  
	12.5	 	 Mitigation of Losses; Adjustment to Purchase Price; No Consequential Damages
	  	 	63	  
	12.6	 	 Payment of Buyer’s Loss
	  	 	64	  
	12.7	 	 Exclusive Remedy
	  	 	64	  
	ARTICLE 13 MISCELLANEOUS	  	 	64	  
	13.1	 	 Notices
	  	 	64	  
	13.2	 	 Amendment
	  	 	65	  
	13.3	 	 Counterparts
	  	 	66	  
	13.4	 	 Binding on Successors and Assigns
	  	 	66	  
	13.5	 	 Severability
	  	 	66	  
	13.6	 	 Waivers
	  	 	66	  
	13.7	 	 Press Releases and Public Announcements
	  	 	66	  
	13.8	 	 Headings
	  	 	66	  
	13.9	 	 Supplemental Information; List of Schedules and Exhibits
	  	 	66	  
	13.10	 	 Entire Agreement
	  	 	68	  
	13.11	 	 Choice of Law
	  	 	68	  
	13.12	 	 Venue
	  	 	68	  
	13.13	 	 Waiver of Jury Trial Rights
	  	 	69	  
	13.14	 	 No Third-Party Rights
	  	 	69	  
	13.15	 	 Sales and Transfer Taxes
	  	 	69	  
	13.16	 	 Expenses
	  	 	69	  
	13.17	 	 Specific Performance
	  	 	69	  
	13.18	 	 Dispute Resolution
	  	 	69	  
	13.19	 	 Confidentiality
	  	 	70	  
	13.20	 	 Compliance with Bulk Sales Laws
	  	 	70	  
	13.21	 	 Survivability of Provisions After Termination
	  	 	70	  

  
 - iii -

 ASSET PURCHASE AGREEMENT 

THIS ASSET PURCHASE AGREEMENT (this “Agreement”), is made as of this 20th day of June, 2012, by and among 3M
COMPANY, a Delaware corporation (“Buyer Parent”), one or more subsidiaries of Buyer Parent to be designated pursuant to Section 6.4 (collectively with Buyer Parent, “Buyer”), FEDERAL SIGNAL
CORPORATION, a Delaware corporation (“Seller Parent”), and those subsidiaries of Seller Parent listed on Schedule 1 (each, a “FS Tech Entity”, and collectively, the “FS Tech Entities”,
and together with Seller Parent, each, a “Seller”, and collectively, the “Sellers”). 

RECITALS 
 WHEREAS, the FS Tech Entities are engaged in the business of providing technology platforms and services to customers in the areas of: 

 

	 	(a)	Radio frequency identification technology (including, but not limited to, readers and tags) for applications such as tolling, electronic vehicle registration, parking
and access control, asset management, cashless payments, and supply chain systems and supply chain management solutions; 

  

	 	(b)	automatic license plate recognition (ALPR) hardware and optical character recognition software (toll, traffic management and law enforcement operating and interface
software) for the purposes of ALPR for applications such as electronic vehicle registration, automatic vehicle detection and identification solutions, traffic monitoring, automated site security solutions and electronic article surveillance (EAS)
solutions; 

  

	 	(c)	technology systems for electronic toll collections (including back office operations software, transaction processing, customer account management and violation
processing operations, cashless payment solutions, access control, congestion charging, traffic management, and port management software and operations services); 

 

	 	(d)	vehicle classification hardware and software for toll, Intelligent Transportation Systems Traffic Management and other transportation-related applications; and

  

	 	(e)	parking and access control and parking lot management systems (hardware, software, operations and maintenance services), 

collectively, the “Business”; 
 WHEREAS, the Sellers wish to grant, sell, convey, assign, transfer and deliver the Business to the Buyer, and the Buyer wishes to purchase the Business from the Sellers, in the manner and subject to the
terms and conditions set forth herein; and 
 WHEREAS, each of the parties hereto desires to set forth certain representations,
warranties and covenants, and to establish certain closing conditions, made to induce the others to execute and deliver this Agreement and to consummate the transactions contemplated hereby. 

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

  
 - 1 -

 ARTICLE 1 

DEFINITIONS 
 1.1 Certain Definitions. For purposes of this Agreement, the following terms shall have the meanings specified in this Section 1.1: 

“Affiliate” shall mean with respect to any specified Person, any other Person which, directly or indirectly, controls, is
under common control with, or is controlled by, such specified Person. The term “control” (including the terms “controlled by” and “under common control with”) means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of more than 50% of voting equity ownership of such Person (or securities convertible or exchangeable into more than
50% of such voting equity ownership interest), by Contract or otherwise. 
 “Agreement” has the meaning set
forth in the preface above. 
 “Affiliated Group” means any affiliated group within the meaning of Internal
Revenue Code section 1504(a) or any similar group defined under a similar provision of state, local, or foreign law. 

“Antitrust Laws” means the HSR Act, the Sherman Act, as amended, the Clayton Act, as amended, the Federal Trade
Commission Act, as amended, and any other Law that is designed to prohibit, restrict or regulate actions having the purpose or effect of monopolization, lessening of competition or restraint of trade, or that requires premerger notification and
approval of mergers, acquisitions, or other transactions. 
 “Benefit Plan” means each employment, bonus,
deferred compensation, incentive compensation, stock purchase, stock option, stock appreciation right or other stock-based incentive, severance, salary continuation, retention, change-in-control, or termination pay, hospitalization or other medical,
welfare benefits, disability, life or other insurance, supplemental unemployment benefits, profit-sharing, pension, or retirement plan, program, agreement or arrangement and each other employee benefit plan, program, agreement or arrangement
sponsored, maintained or contributed to or required to be contributed to by Seller Parent, a FS Tech Entity or any Person for the benefit of Business Employees. 
 “Business” has the meaning set forth in the preface above. 

“Business Day” means any day except Saturday, Sunday or any other day on which commercial banks in the State of New York
are authorized or required by Law to be closed for business. 
 “Business Employee” means an employee of Seller
Parent or any FS Tech Entity who performs services primarily for the Business. 
 “Business Unit” means
individually the business and operations of each of the following, which together comprise the Business: (i) Diamond Consulting Services Limited, organized under the laws of England, and IDRIS Technology Limited, organized under the laws of
England; (ii) Federal Signal Technologies, LLC, a Delaware limited liability company; (iii) VESystems, LLC, a Delaware limited liability company; (iv) Sirit, Inc., organized in Canada, Sirit Corp., a Texas corporation, Federal Signal
Technologies (Hong Kong) Limited, organized in Hong Kong, and Federal Signal do Brasil Participações Ltda, organized in Brazil; (v) Federal APD Incorporated, a Michigan corporation, Federal APD de Mexico, S.A. de C.V., organized
in Mexico, and Federal APD do Brasil Ltda, organized in Brazil; and (vi) PIPS Technology Inc., a Tennessee corporation, and PIPS Technology Limited, organized under the laws of England. 

  
 - 2 -

 “Buyer” has the meaning set forth in the preface above. 

“Buyer Parent” has the meaning set forth in the preface above. 

“Claim” means any and all liabilities, losses, damages, deficiencies, demands, claims, fines, penalties, interest,
assessments, judgments, Liens, charges, orders, dues, assessments, Taxes and Proceedings of whatever kind and nature and all costs and expenses relating thereto, including fees and expenses of counsel, accountants and other experts, and other
expenses of investigation and litigation. 
 “Closing Date Working Capital” means the Working Capital
determined as of the close of business on the Closing Date. 
 “COBRA” means the Consolidated Omnibus Budget
Reconciliation Act of 1986, as reflected in the provisions of sections 601 through 609 of ERISA, and any regulations or rules issued pursuant thereto. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Contract” means any agreement, contract, obligation, promise or undertaking, whether written or oral and whether
express or implied, that is legally binding. 
 “Current Assets” means, as of any date, the consolidated
assets of the FS Tech Entities set forth on Exhibit B under the heading “Current Assets” and no other assets. 
 “Current Liabilities” means, as of any date, the consolidated liabilities of the FS Tech Entities set forth on Exhibit B under the heading “Current Liabilities”
and no other liabilities. 
 “Environment” means surface or subsurface soil or strata, surface waters
and sediments, navigable waters, wetlands, groundwater, sediments, drinking water supply, ambient air, species, plants, wildlife, animals and natural resources. 
 “Environmental Laws” means any Laws of any Governmental Authority in effect as of the Closing Date relating to the Environment (including, without limitation, ambient air, surface, water,
groundwater, land surface or subsurface strata) or protection of human health as it relates to the Environment including, without limitation, relating to (a) Releases or threatened Releases of Hazardous Substances or materials containing
Hazardous Substances; (b) the manufacture, handling, processing, distribution, transport, use, treatment, storage or disposal of Hazardous Substances or materials containing Hazardous Substances; (c) pollution or protection of the
Environment, health, safety or natural resources from Hazardous Substances; or (d) management of asbestos in buildings. 

“Environmental Permits” means any authorizations, licenses, permits, plans, variances, approvals or registrations
required by or issued pursuant to any Environmental Law by any Governmental Authority in connection with the Business or activities and operations at the Real Properties. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and any regulations or rules issued pursuant thereto. 

“Escrow Agent” means Deutsche Bank Trust Company Americas. 

  
 - 3 -

 “Estimated Working Capital Overage” means the amount, if any, by which the
Working Capital Estimate exceeds the Target Working Capital. 
 “Estimated Working Capital Underage” means the
amount, if any, by which the Target Working Capital exceeds the Working Capital Estimate. 
 “FS Tech Entities”
has the meaning set forth in the preface above. 
 “GAAP” means accounting principles generally accepted
in the United States as in effect from time to time and as consistently applied through the periods involved in accordance with Seller Parent’s “Standard Policies and Practices” of accounting, such policies and practices being set
forth on Schedule 1.1A. Where the Seller Parent’s “Standard Policies and Practices” are silent or are not in compliance with GAAP, GAAP prevails. 
 “Governmental Authority” means any national, state, regional, county, municipal, local or foreign court, arbitral tribunal, agency, board, bureau or commission or other governmental or
other regulatory authority or instrumentality anywhere in the world. 
 “Hazardous Substances” means
(a) those substances, waste materials, raw materials or finished products, defined in or regulated under the Hazardous Materials Transportation Act, the Resource Conservation and Recovery Act, the Comprehensive Environmental Response,
Compensation and Liability Act (“CERCLA”), the Clean Water Act, the Safe Drinking Water Act, the Atomic Energy Act, the Federal Insecticide, Fungicide, and Rodenticide Act and the Clean Air Act, and their state counterparts, each as
in effect on the Closing Date, and all regulations thereunder; (b) petroleum and petroleum products, including crude oil and any fractions thereof; (c) natural gas, synthetic gas, and any mixtures thereof; (d) polychlorinated
biphenyls, asbestos or asbestos-containing materials, urea formaldehyde foam insulation, any form of natural gas, explosives, radioactive materials, ionizing radiation, electromagnetic field radiation or microwave transmissions and radon; and
(e) any pollutant, contaminant, substance, material or waste regulated by any Governmental Authority pursuant to any Environmental Law. 
 “HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. 
 “Indebtedness” of any Person will mean, without duplication, (a) all obligations of such Person for money borrowed, (b) all obligations of such Person evidenced by notes,
debentures, bonds or other similar instruments for the payment of which such Person is responsible or liable including early termination fees whether or not the fees have been incurred prior to close, (c) all obligations of such Person issued
or assumed for deferred purchase price payments, to the extent required to be accrued as a liability under GAAP, (d) all obligations of such Person under leases required to be capitalized in accordance with GAAP, (e) all bank overdrafts of
such Person, (f) all intercompany liabilities payable to Seller Parent or any Affiliate of Seller Parent (other than the FS Tech Entities), from any FS Tech Entity, and (g) all professional fees and liabilities (recorded or unrecorded) of
such Person incurred prior to the Closing Date in conjunction with this transaction (including, but not limited to, attorneys’ fees, accountants’ fees and financial advisor fees). Notwithstanding the foregoing, for purposes of calculating
the Closing Date Indebtedness Estimate and the Closing Date Indebtedness Amount pursuant to Section 2.6, “Indebtedness” shall not include any liabilities included among Current Liabilities. 

“Intellectual Property” means the domain names and any rights available (including with respect to Technology) under
patent, trademark, service mark, copyright or trade secret Law or any other statutory provision or common law doctrine in the United States or other country, irrespective of whether such rights are registered with a Governmental Authority, in all
cases that are used or held for use 

  
 - 4 -

 
primarily in the Business by the FS Tech Entities, including (a) all inventions (whether patentable or unpatentable and whether or not reduced to practice), all improvements thereto, and all
patents, patent applications, and patent disclosures, together with all reissuances, continuations, continuations-in-part, revisions, extensions, and reexaminations thereof, (b) all trademarks (including all trademarks, service marks,
certification marks, collective marks and service marks), trade dress, logos, trade names, and brand and corporate names, together with all translations, adaptations, derivations, and combinations thereof and including all goodwill associated
therewith, and all applications, registrations, and renewals in connection therewith, (c) all copyrightable works, all copyrights, all mask works, and all applications, registrations, and renewals in connection therewith, (d) all trade
secrets and confidential business information (including ideas, research and development, know-how, formulas, compositions, manufacturing and production processes and techniques, technical data, designs, drawings, specifications, customer and
supplier lists, pricing and cost information, and business and marketing plans and proposals), (e) all other proprietary rights, (f) all internet domains and all related registrations, (g) all copies and tangible embodiments thereof
(in whatever form or medium), and (h) software (excluding off-the-shelf software). 
 “Knowledge” means,
with respect to an individual and a given fact or matter, that such individual is actually aware of such fact or matter, after due inquiry. As used herein, the phrase “due inquiry” shall mean, with respect to any Person, such Person’s
inquiry of direct reports who would reasonably be expected to have actual knowledge of relevant facts and circumstances. 

“Knowledge of the Sellers”, or any similar reference, means the Knowledge of (a) any individual who, as of
the date hereof, is serving, as a director or officer of Seller Parent or any FS Tech Entity, or (b) any individual that Seller Parent has specifically provided to respond to Buyer’s inquiries in connection with this transaction. 

 “Law” means any federal, state, local or foreign law, statute, rule, code, regulation, ordinance, Order,
Permit or directive of, or issued by, any Governmental Authority, including, without limitation, the Antitrust Laws, and any Environmental Laws. 
 “Lease” means any written lease, sublease, rental agreement or license (and any related Contract, agreement, commitment, arrangement, undertaking or understanding) and all amendments,
modifications and supplements thereof and waivers and consents thereunder pursuant to which a FS Tech Entity leases, subleases, rents or licenses any Property, either as lessor, lessee, landlord or tenant. 

“Lien” means any mortgage, deed of trust, lien, pledge, Claim, charge, security interest, option, restriction on
transferability or voting, limitation, easement, title defect or other adverse Claim of ownership or use, or other encumbrance of any kind, character or description, whether or not of record (including any deposit, conditional or installment sale,
other title retention Contract or capital lease), any lease in the nature thereof, or any filing of, or agreement to give, any financing statement. 
 “Material Adverse Effect” means any change, development, effect, event or state of facts which, individually or in the aggregate, has had or reasonably could be expected to have a
material adverse effect (i) on the Business, Assets, liabilities, capitalization, condition (financial or other) or results of operations of the Business, taken as a whole, or (ii) on the ability of the Sellers to consummate the
transactions contemplated by this Agreement; provided that none of the following shall be deemed to constitute, and none of the following shall be taken into account in determining whether there has been, a Material Adverse Effect pursuant to
clause (i) above: (a) any adverse change, event, development, or effect arising from or relating to (i) conditions affecting United States or foreign economic or capital markets generally, (ii) industry conditions which do not
disproportionately impact the FS Tech Entities or the Business relative to other Persons who operate in the same industry as the FS Tech Entities, (iii) national or 

  
 - 5 -

 
international political or social conditions (including the engagement in hostilities or the occurrence of any national emergency or war or the occurrence of any military or terrorist attack or
the disruption of financial, banking or securities markets (including any decline in the price of any security or any market index)), provided that such conditions do not disproportionately impact the FS Tech Entities or the Business relative
to other Persons who operate in the same industry as the FS Tech Entities, (iv) changes in GAAP which do not disproportionately impact the FS Tech Entities or the Business relative to other Persons who operate in the same industry as the FS
Tech Entities, (v) changes in Laws issued by any Governmental Authority which do not disproportionately impact the FS Tech Entities or the Business relative to other Persons who operate in the same industry as the FS Tech Entities,
(vi) the announcement of this Agreement or the transactions contemplated hereby or of the identity of the parties hereto; or (vii) the taking of any action contemplated by this Agreement and the Other Agreements contemplated hereby, and
(b) any matter set forth in the Schedules (but only to the extent the consequences of such matter are described in the Schedules). 
 “Negative Closing Date Indebtedness Adjustment” means the amount, if any, by which the Closing Date Indebtedness Amount (as finally determined pursuant to Section 2.6(d))
exceeds the Closing Date Indebtedness Estimate. 
 “Negative Closing Date Working Capital Adjustment” means the
amount, if any, by which the Working Capital Estimate exceeds the Closing Date Working Capital (as finally determined pursuant to Section 2.6(d)). 
 “Order” means any award, decision, injunction, judgment, stipulation, order, ruling, subpoena, writ, determination, decree, consent decree or verdict entered, issued, made or rendered by
any arbitrator or Governmental Authority (whether temporary, preliminary or permanent). 
 “Ordinary Course of
Business” means the ordinary course of conduct of the Business, which is consistent in nature, scope and magnitude with past practices of the FS Tech Entities (including with respect to quantity and frequency) and is taken in the ordinary
course of the normal, day-to-day operations. 
 “Permit” means any material permit, authorization, approval,
registration, license, franchise, certificate, exemption, waiver or variance issued or granted by or obtained from any Governmental Authority (excluding Environmental Permits). 

“Permitted Encumbrances” means (a) Liens for Taxes not yet due and payable or being contested in good faith by
appropriate Proceedings, (b) Liens disclosed in the Financial Statements, (c) restrictions on the use of software programs and related documents licensed from third parties, or (d)(i) Liens imposed by Law and incurred in the Ordinary
Course of Business for obligations not yet due and payable to landlords, carriers, warehousemen, laborers, materialmen and the like, (ii) easements, building restrictions, rights of way, reservations and such similar encumbrances or charges
against Real Property as are of a nature generally existing with respect to properties of a similar character and which do not in any material way affect the use thereof in the Business, (iii) the Liens set forth on Schedule 1.1B; and
(iv) other Claims or other exceptions which are immaterial (provided that all UCC-1 financing statements, security agreements, or registrations or agreements pledging any interest in the Assets will be deemed to be material for purposes of this
definition except as is contemplated under subpart (iii) above). 
 “Person” shall mean an individual, a
corporation, a partnership, a limited liability company, a trust, an unincorporated association, a governmental entity or any agency, instrumentality or political subdivision of a Governmental Authority, or any other entity or body. 

  
 - 6 -

 “Positive Closing Date Indebtedness Adjustment” means the amount, if any,
by which the Closing Date Indebtedness Estimate exceeds the Closing Date Indebtedness Amount (as finally determined pursuant to Section 2.6(d)). 
 “Positive Closing Date Working Capital Adjustment” means the amount, if any, by which the Closing Date Working Capital (as finally determined pursuant to Section 2.6(d))
exceeds the Working Capital Estimate. 
 “Proceeding” means any Claim, assertion, notice of Claim or assertion,
complaint, action, litigation, suit, proceeding, formal investigation, inquiry, audit or review of any nature, civil, criminal, regulatory, administrative or otherwise, or any grievance, arbitration or arbitration demand. 

“Product Processing Agreement” means that certain product processing agreement to be entered into by Seller Parent (or
an Affiliate of Seller Parent) and Buyer Parent at Closing, in substantially the form set forth in Exhibit I. 

“Property” or “Properties” means, collectively, those real and personal properties and assets owned or
used by the FS Tech Entities. 
 “Purchase Price” means the Estimated Purchase Price, plus the Positive Closing
Date Working Capital Adjustment, minus the Negative Closing Date Working Capital Adjustment, plus the Positive Closing Date Indebtedness Adjustment, minus the Negative Closing Date Indebtedness Adjustment. 

“Real Property” or “Real Properties” means those real properties owned, leased or used by the FS Tech
Entities. 
 “Release” or “Releases” has the meaning set forth in Section 101(22) of
CERCLA. 
 “Representative” means with respect to any Person, (a) any director, officer, partner,
executor, trustee, employee, agent, consultant, advisor, or other representative of such Person, (b) any Person with respect to which such Person serves as a general partner or trustee (or in a similar capacity), and (c) legal counsel,
accountants and financial advisors of such Person. 
 “Schedules” means that certain document delivered by
Seller Parent to the Buyer on or prior to the date of this Agreement which states that it is the disclosure schedules referred to in this Agreement. 
 “Seller Parent” has the meaning set forth in the preface above. 

“Sellers” has the meaning set forth in the preface above. 

“Supply Agreement” means that certain supply agreement to be entered into by Seller Parent (or an Affiliate of Seller
Parent) and Buyer Parent at Closing, in substantially the form set forth in Exhibit F. 
 “Target Working
Capital” means: (a) if the Closing Date is on or before September 4, 2012, 23 Million Dollars ($23,000,000), or (b) if the Closing Date is on or after September 5, 2012, Twenty-Four Million Eight Hundred Thousand Dollars
($24,800,000).  
 “Tax” or “Taxes” shall mean all federal, territorial, state,
provincial, local or foreign government taxes, levies, assessments, duties, imposts or other like assessments, charges or fees (including estimated taxes, charges and fees), including, without limitation, income, profits, gross receipts, transfer,
excise, property, sales, use, value-added, ad valorem, license, excise, capital, wage, employment, payroll, 

  
 - 7 -

 
withholding, Social Security, Medicare, severance, occupation, import, custom, duties, stamp, documentary, mortgage, registration, alternative, add-on minimum, environmental, franchise or other
governmental taxes or charges of any kind whatsoever, imposed by any Governmental Authority responsible for the imposition of any such tax, including any interest, penalties, fines or additions to tax applicable or related thereto. 

“Tax Return” means collectively: (a) all reports, declarations, filings, questionnaires, estimates, returns,
information statements and similar documents relating to, or required to be filed in respect of, any Taxes, including, without limitation, any amendments thereof; and (b) any statements, returns, reports, or similar documents required to be
filed pursuant to Part III of Subchapter A of Chapter 61 of the Code or pursuant to any similar income, excise or other Tax provision of federal, territorial, state, provincial, local or foreign Law, including, without limitation, any amendments
thereof; and the term “Tax Return” means any one of the foregoing Tax Returns. 
 “Technology” means,
collectively, designs, formulae, methods, techniques, ideas, data, improvements, inventions, software and other similar materials, and all recordings, graphs, drawings, reports, analyses, and know-how and other writings, and any other embodiments of
the above, in any form whether or not specifically listed herein, and all related technology, that are used, incorporated or embodied in or displayed by any of the foregoing or used in the design, development, reproduction, sale, marketing,
maintenance or modification of any of the foregoing, in all cases that, are used or held for use primarily in the Business by the FS Tech Entities. 
 “Transition Services Agreement” means that certain transition services agreement to be entered into by Seller Parent (or an Affiliate of Seller Parent) and Buyer Parent at Closing, in
substantially the form set forth in Exhibit E. 
 “TULCRA” means the Trade Union and Labour Relations
(Consolidation) Act 1992 (United Kingdom). 
 “TUPE” means the Transfer of Undertakings (Protection of
Employment) Regulations 2006 (United Kingdom). 
 “UK Employees” means each and all of the persons wholly or
mainly employed by one or more of the Sellers in the Business in England at the opening of business in England on the Closing Date (being those persons whose details are set out in Schedule 3.7(a) as at the date of this Agreement as such
Schedule is updated by the Seller Parent immediately prior to Closing). 
 “Working Capital” means (a) the
aggregate Current Assets less (b) the aggregate Current Liabilities, calculated in accordance with GAAP and consistent with the sample calculation set forth on Exhibit A. 

1.2 Terms Defined Elsewhere in this Agreement. For purposes of this Agreement, the following terms shall have the meanings set
forth in the sections indicated: 
  

							
	 Allocation
	  	§	 	  	  	  2.9(a)
	 Anticorruption Laws
	  	§	 	  	  	  3.21(a)
	 Apportioned Obligations
	  	§	 	  	  	  7.1(a)
	 Assets
	  	§	 	  	  	  2.1
	 Assignment and Assumption Agreement
	  	§	 	  	  	10.1(f)
	 Assumed Contracts
	  	§	 	  	  	  2.1(e)
	 Assumed Liabilities
	  	§	 	  	  	  2.3

  
 - 8 -

							
	 Buyer 401(k) Plan
	  	§	 	  	  	  7.2(f)
	 Buyer Indemnified Parties
	  	§	 	  	  	12.2(a)
	 Buyer’s Cap
	  	§	 	  	  	12.3(b)
	 Buyer’s Floor
	  	§	 	  	  	12.3(b)
	 Buyer’s Loss
	  	§	 	  	  	12.2(a)(i)
	 California Neology Case
	  	§	 	  	  	  2.3(f)
	 CERCLA
	  	§	 	  	  	  1.1
	 Closing
	  	§	 	  	  	  2.5(b)
	 Closing Date
	  	§	 	  	  	  2.5(b)
	 Closing Date Balance Sheet
	  	§	 	  	  	  2.6(c)
	 Closing Date Indebtedness Amount
	  	§	 	  	  	  2.6(c)
	 Closing Date Indebtedness Estimate
	  	§	 	  	  	  2.6(b)
	 Closing Date Statement
	  	§	 	  	  	  2.6(c)
	 Competitive Business
	  	§	 	  	  	  5.9(a)
	 Confidential Information
	  	§	 	  	  	  5.6
	 Confidentiality Agreement
	  	§	 	  	  	  5.4(a)
	 Combined Financial Statements
	  	§	 	  	  	  3.2(a)
	 Date of Final Closing Date Statement
	  	§	 	  	  	  2.6(d)
	 Debt Instruments
	  	§	 	  	  	  3.6(a)
	 Delaware Neology Case
	  	§	 	  	  	  2.3(f)
	 Dispute
	  	§	 	  	  	13.18
	 Employee Plans
	  	§	 	  	  	  3.7(d)
	 Equitable Exceptions
	  	§	 	  	  	  3.1(c)
	 Escrow Agreement
	  	§	 	  	  	  2.7
	 Escrowed Proceeds
	  	§	 	  	  	  2.6(a)(i)
	 Estimated Purchase Price
	  	§	 	  	  	  2.6(a)
	 Excluded Assets
	  	§	 	  	  	  2.2
	 Final Allocation
	  	§	 	  	  	  2.9(a)
	 Final Closing Date Balance Sheet
	  	§	 	  	  	  2.6(d)
	 Final Closing Date Statement
	  	§	 	  	  	  2.6(d)
	 Financial Statements
	  	§	 	  	  	  3.2(a)
	 Fundamental Representations
	  	§	 	  	  	  12.1
	 FS Tech Employee Plans
	  	§	 	  	  	  3.7(d)
	 FS Tech Software
	  	§	 	  	  	  3.5(c)
	 Government Official
	  	§	 	  	  	  3.21(b)
	 Indemnified Party
	  	§	 	  	  	12.4(a)
	 Indemnifying Party
	  	§	 	  	  	12.4(a)
	 Independent Accountant
	  	§	 	  	  	  2.6(d)
	 Insurance Policies
	  	§	 	  	  	  3.6(c)
	 Intellectual Property Licenses
	  	§	 	  	  	  3.5(a)
	 Interim Financial Statements
	  	§	 	  	  	  3.2(a)
	 Labor Laws
	  	§	 	  	  	  3.7(b)
	 Losses
	  	§	 	  	  	12.5(b)
	 Material Contract
	  	§	 	  	  	  3.6(b)
	 Neology Lawsuits
	  	§	 	  	  	  2.3(f)
	 Non-Transferring Employee Letter
	  	§	 	  	  	  7.3(c)
	 Other Agreements
	  	§	 	  	  	  3.1(c)
	 Outside Closing Date
	  	§	 	  	  	  11.2
	 Permitted Integration System
	  	§	 	  	  	  5.9(c)
	 Permitted Products
	  	§	 	  	  	  5.9(c)
	 Personal Property
	  	§	 	  	  	  3.4(c)

  
 - 9 -

							
	 Personal Property Leases
	  	§	 	  	  	  3.4(c)
	 Post-Closing Tax Period
	  	§	 	  	  	  7.1(a)
	 Pre-Closing Tax Period
	  	§	 	  	  	  7.1(a)
	 Preliminary Allocation
	  	§	 	  	  	  2.9(a)
	 Preliminary Statement
	  	§	 	  	  	  2.6(b)
	 Principals
	  	§	 	  	  	13.18
	 Purchase Price Adjustment
	  	§	 	  	  	  2.6(e)
	 Real Property Lease
	  	§	 	  	  	  3.4(b)
	 Restrictive Covenants
	  	§	 	  	  	  5.9(d)
	 Retained Liabilities
	  	§	 	  	  	  2.4
	 Retained Mark
	  	§	 	  	  	  2.2(j)
	 Sale Bonus Agreement
	  	§	 	  	  	  3.7(i)
	 Seller Pension Plan
	  	§	 	  	  	  7.3(f)
	 Seller 401(k) Plan
	  	§	 	  	  	  7.3(f)
	 Seller Indemnified Parties
	  	§	 	  	  	12.3(a)
	 Seller Employee Plans
	  	§	 	  	  	  3.7(d)
	 Seller’s Cap
	  	§	 	  	  	12.2(b)
	 Seller’s Floor
	  	§	 	  	  	12.2(b)
	 Seller’s Loss
	  	§	 	  	  	12.3(a)(i)
	 Software Escrow Agent
	  	§	 	  	  	  5.15(a)
	 Software Escrow Agreement
	  	§	 	  	  	  5.15(a)
	 Software Escrow Materials
	  	§	 	  	  	  5.15(a)
	 Straddle Period
	  	§	 	  	  	  7.1(a)
	 Substitute Performance Collateral
	  	§	 	  	  	  6.1(d)
	 Third Party Claim
	  	§	 	  	  	12.4(a)
	 Transfer Taxes
	  	§	 	  	  	13.15
	 Transferring Employee
	  	§	 	  	  	  7.3(c)
	 VAT
	  	§	 	  	  	  7.2
	 Working Capital Estimate
	  	§	 	  	  	  2.6(b)

 1.3 Interpretation. The words “hereof,” “herein,” and “hereunder”
and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement. Terms defined in the singular shall have correlative meanings when used in the plural, and vice
versa. The headings herein are for convenience of reference only, do not constitute part of this Agreement and shall not be deemed to limit or otherwise affect any of the provisions hereof. Where a reference in this Agreement is made to a Section,
such reference shall be to a Section of this Agreement unless otherwise indicated. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words
“without limitation.” 
 In addition, each representation and warranty set forth in this Agreement will be given
independent effect so that if a particular representation or warranty proves to be incorrect or is breached, the fact that another representation or warranty concerning the same or similar subject matter is correct or is not breached will not affect
the incorrectness or breach of the initial representation or warranty. No investigation by or Knowledge of a party or its Representatives, before or after the Closing, will affect in any manner any representation, warranty, covenant or agreement of
another party set forth in this Agreement or such party’s right to rely thereon, and all representations, warranties, covenants and agreements will survive any such investigation. 

This Agreement has been reviewed, negotiated and accepted by all parties and their attorneys and will be construed and interpreted
according to the ordinary meaning of the words so as fairly to accomplish the purposes and intentions of the parties. 

  
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 ARTICLE 2 

PURCHASE AND SALE 
 2.1 Assets. At the Closing and except as otherwise specifically provided in this Section 2.1, upon and subject to the terms and conditions of this Agreement, the Sellers shall grant,
sell, convey, assign, transfer and deliver to the Buyer, and the Buyer shall purchase from the Sellers, all right, title and interest of the Sellers in and to (a) the Business as a going concern, and (b) all of the assets, properties and
rights of the Sellers used or held for use primarily in the Business, of every kind and description, real, personal and mixed, tangible and intangible, wherever situated (which Business, name, goodwill, assets, properties and rights are herein
sometimes called the “Assets”), free and clear of all Liens of any nature whatsoever except for the Permitted Encumbrances, including, without limitation, the following items used or held for use primarily in the Business:

 (a) all machinery, equipment, tools, vehicles, furniture, furnishings, leasehold improvements, goods, and other Personal
Property; 
 (b) all Real Property Leases and all Personal Property Leases; 

(c) all prepaid items, unbilled costs and fees, and accounts, notes and other receivables included in Current Assets as set forth on the
Final Closing Date Balance Sheet; 
 (d) all supplies, inventories, office equipment and other supplies; 

(e) to the extent transferable and subject to Section 10.4 in that regard, all rights under any Contract, Lease, plan,
instrument, registration, certificate of occupancy, Permit, Environmental Permit, or approval of any nature, or other document, commitment, arrangement, undertaking, or practice (excluding employment-related agreements) and any accrued benefit
(deferred cost or unbilled account receivable) which results from performance under the terms of such Contract (the “Assumed Contracts”); 
 (f) all pending insurance claims, including rights and proceeds, arising from or relating to the Assets or the Assumed Liabilities (as defined below) prior to Closing but only to the extent a loss related
to such claim is not reflected in a specific reduction in the value of Current Assets as set forth on the Final Closing Date Balance Sheet; 
 (g) all Intellectual Property; 
 (h) all content/data and collections of
content/data (e.g. data bases and websites used in the Business or under development); 
 (i) all FS Tech Software (including
documentation and related object and source codes) currently used, or in development for use, by the Sellers as part of the Business, and all other software used or held for use primarily in the operation of the Business, including but not limited
to the software listed in Schedule 2.1(i); 
 (j) all rights under express or implied warranties relating to the Assets;

 (k) all Claims of the Sellers against third parties relating to the Assets; 

(l) all Current Assets; 

  
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 (m) except as is contemplated by Section 2.2(j), the corporate names set forth
on Schedule 1 and all goodwill associated therewith; 
 (n) all telephone and fax numbers; 

(o) all books and records relating to the Assets and the Business except to the extent required by Law or otherwise specifically excluded
under Section 2.2; 
 (p) all bank accounts of the Business, a list of which is set forth in Schedule 3.11;
and 
 (q) all information, files, records, data, plans, contracts and recorded knowledge, including customer and supplier
lists, related to the foregoing. 
 Schedule 2.1(r) sets forth a list of all material Assets located at the University Park, Illinois
facility, all of which shall constitute Assets hereunder except to the extent identified on Schedule 2.2(k) as an Excluded Asset. 
 2.2 Excluded Assets. Notwithstanding the foregoing, the Assets shall not include any of the following (collectively, the “Excluded Assets”): 

(a) any assets of the Sellers not relating to or used or held for use primarily in the Business; 

(b) the corporate seals, certificates of incorporation, minute books, stock books, tax returns, books of account or other records having
to do with corporate organization and actions of the FS Tech Entities; 
 (c) the rights which accrue or will accrue to the
Sellers under this Agreement and the Other Agreements; 
 (d) all rights under any written or oral employment-related contract,
agreement, commitment, arrangement, understanding, practice or authorization, except that any obligations of confidentiality and assignment of Intellectual Property shall be included as Assets, and all personnel and medical records of any current or
former Business Employee to the extent the transfer of such records is prohibited by Law; 
 (e) all cash or cash equivalents in
transit, in hand or in bank accounts, with the exception of any cash or cash equivalents, in transit, in hand or in bank accounts that was collected on behalf of customers, is in the custody of a FS Tech Entity at Closing and will be remitted to
customers; 
 (f) except to the extent included in Section 2.1(f), all interest in and rights under insurance
policies, including but not limited to life insurance and directors and officers liability policies, and proceeds of insurance; 

(g) all Benefit Plans including any underlying assets, agreements, policies and rights in connection therewith; 

(h) all rights and benefits of every kind relating to the Excluded Assets and the Retained Liabilities; 

  
 - 12 -

 (i) consistent with Section 5.8, all accounts receivable due from any FS Tech
Entity to Seller Parent or an Affiliate (excluding the other FS Tech Entities); 
 (j) all rights to the “Federal
Signal” trademarks, service marks, certification marks, collective marks, trade dress, logos, trade names, and brand and corporate names, together with all translations, adaptations, derivations, and combinations thereof and including all
goodwill associated therewith, and all applications, registrations, and renewals in connection therewith (collectively, the “Retained Mark”); 
 (k) the other assets, properties or rights set forth on Schedule 2.2(k); and 

(l) consistent with Section 5.8, all accounts payable to any FS Tech Entity from Seller Parent or an Affiliate (excluding the
other FS Tech Entities). 
 2.3 Assumed Liabilities. At the Closing hereunder and except as otherwise specifically
provided in this Section 2.3, the Buyer shall assume and agree to pay, discharge or perform, as appropriate, only the following liabilities and obligations of the FS Tech Entities (collectively, the “Assumed
Liabilities”): 
 (a) the Current Liabilities, as set forth on the Final Closing Date Balance Sheet; 

(b) to the extent accrued on the Final Closing Date Statement, any liabilities and obligations arising from the recall, design defect or
other warranty Claims for any products manufactured or sold or services performed prior to the Closing Date, regardless of when such Claims are made or asserted; 
 (c) subject to the specific indemnification provisions of Seller Parent set forth in Section 7.4(d)(i) and (ii), any liabilities and obligations arising in respect of the UK Employees to the
extent that such liabilities and obligations are transferred to Buyer as a matter of law pursuant to TUPE; 
 (d) any
liabilities and obligations arising from the use of the Assets or the operation of the Business by Buyer after the Closing Date, but only to the extent that such liabilities and obligations do not arise from or relate to any breach by the Company of
any obligations under any provision of any of the Assumed Contracts or any applicable Law that occurred on or before the Closing Date and except as is contemplated by Section 2.3(b) above; 

(e) any liabilities and obligations arising under the Assumed Contracts, Real Property Leases and Personal Property Leases, but only to
the extent that such liabilities and obligations (i) arise on or after the Closing Date; and (ii) do not arise from or relate to any breach by the Sellers of any obligations under any provision of any such Assumed Contract, Real Property
Lease or Personal Property Lease that occurred on or before the Closing Date; 
 (f) subject to the exclusions set forth in
Section 2.4(g) and the specific indemnification provisions of Seller Parent set forth in Section 12.2(a)(i)(F) and any related Claims made under Section 12.2(a)(ii) (subject to the applicable limitations set forth in
Article 12), liabilities and obligations of the FS Tech Entities arising from events occurring after the Closing Date relating to Case No. 1:11-CV-00672, Neology v. Federal Signal Corporation, et al. filed in the U.S. District Court of
Delaware (Wilmington) on July 29, 2011 (the “Delaware Neology Case”), and Case No. 2:12-CV-04422-GHK-JPR, Neology v. Federal Signal Corporation, et al. filed in the U.S. District Court for the Central District of
California (Los Angeles) on May 21, 2012 (the “California Neology Case”, and together with the Delaware Neology Case, the “Neology Lawsuits”); and 

  
 - 13 -

 (g) any liability arising from unpaid vacation pay as of the Closing Date, but only to the
extent that which has been accrued for on the Final Closing Date Balance Sheet. 
 2.4 Retained Liabilities. In no event
shall the Buyer assume or incur any liability or obligation under Section 2.3 or otherwise in respect of any liabilities or obligations of the Sellers or with respect to the Business prior to the Closing Date other than the Assumed
Liabilities and the Sellers shall remain solely liable for all such liabilities and obligations (the “Retained Liabilities”), including the following: 
 (a) except as is contemplated by Section 2.3(b) above, any product liability or similar claim for any injury to person or property, regardless of when made or asserted, which arises out of or
is based upon any express or implied representation, agreement or guarantee made by any FS Tech Entity, or alleged to have been made by any FS Tech Entity, or which is imposed or asserted to be imposed by operation of law, in connection with any
service performed or product sold or leased by or on behalf of such FS Tech Entity prior to the Closing Date, including without limitation any claim relating to any product delivered prior to the Closing in connection with the performance of such
service and any claim seeking recovery for direct, incidental, special, or consequential damage, lost revenue or income; 
 (b)
any federal, state, foreign or local income or other Taxes (x) payable with respect to the Business, Assets, properties or operations of the Sellers or any member of any Affiliated Group of which either is a member for any period prior to the
Closing Date, or (y) assessed against the Sellers and incident to or arising as a consequence of the negotiation or consummation by the Sellers or any member of any Affiliated Group of which either is a member of this Agreement and the
transactions contemplated hereby; 
 (c) any liability or obligation under or in connection with the Excluded Assets;

 (d) except as is contemplated by Sections 2.3(c) and (g) above, any liability or obligation arising prior to or
as a result of the Closing to any employee(s), agents or independent contractors of the Sellers, whether or not employed by the Buyer after the Closing, or under any compensation or benefit arrangement with respect thereto, including but not limited
to liabilities to third parties with respect to any such benefit arrangement. For purposes of this subsection (d), (x) the term “employees” shall include without limitation former employees as well as the family members of current and
former employees, and (y) the term “liability or obligation” shall include any monies owed or that may be owed pursuant to any contract, agreement or understanding, written or verbal, between any Seller and any employee or former
employee of any Seller; 
 (e) any liability or obligation arising prior to the Closing Date related to any real estate and/or
environmental matters; 
 (f) any liability or obligation related to any action, suit, Proceeding, demand, assessment or
judgment arising from events occurring on or before the Closing Date of any nature whatsoever, including, but not limited to, (A) Case No. 3:10-CV-00146 Alan K. Sefton v. Federal Signal Corporation, FS PIPS UK and Federal Signal of Europe
BV y CIA, SC filed in the U.S. District Court, Eastern District of Tennessee (Knoxville) on April 5, 2010, and (B) the demand from Global Telecommunications Services, Buenos Aires, Argentina; 

(g) any liability or obligation attributable to the infringement of third party intellectual property arising from any service performed
or any product used, manufactured or sold by any Seller prior to the Closing Date, including but not limited to such liabilities or obligations arising from or in connection with the Neology Lawsuits; 

  
 - 14 -

 (h) any liability or obligation of the Sellers arising or incurred in connection with the
negotiation, preparation and execution of this Agreement and the transactions contemplated hereby and fees and expenses of the Sellers’ counsel, accountants, financial advisors, and other experts; 

(i) any liability or obligation of the Sellers arising from or incurred in connection with trade compliance, including but not limited to
that related to compliance with applicable customs, export controls and sanctions, country of origin, product marking, anti-boycott, free trade agreement and hazardous materials Laws, regulations, rulings, Permits, licenses and Orders; 

(j) any liability or obligation of the Sellers to pay bonuses or other compensation to any current or former employee of the Business as a
result of the transactions contemplated by this Agreement (including but not limited to any liability or obligation under the Sale Bonus Agreements); 
 (k) any liability or obligation of the Sellers with respect to any defined benefit pension plan in which any of the current or former employees of the Business currently participate or have at any time
participated; 
 (l) any liability or obligation of the Sellers relating to stock-based compensation (including stock options,
restricted stock, restricted stock units and performance share units) granted to or held by any current or former employee of the Business; 
 (m) any liability or obligation of the Sellers relating to deferred compensation, workers compensation or long-term incentive compensation of each current or former employee of the Business arising on or
before the Closing Date; 
 (n) any other liability or obligation of the Sellers of any kind relating to Business Employees who
do not become Transferring Employees, whether such liability or obligation arises on, before, or after the Closing Date; or 

(o) except as is contemplated by Section 2.3(b), any liabilities and obligations arising from the recall, design defect or
other warranty Claims for any products manufactured or sold or services performed prior to the Closing Date, regardless of when such Claims are made or asserted. 
 2.5 Closing. 
 (a) At the Closing, 

(i) The Sellers will deliver to the Buyer the various items, certificates, instruments and documents referred to in
Section 10.1; and 
 (ii) The Buyer will deliver to the Sellers various items, certificates,
instruments and documents referred to in Section 10.2. 
 (b) The closing (the “Closing”) of the
transactions contemplated by this Agreement shall take place at a location or locations mutually satisfactory to the parties hereto commencing at 9:00 a.m. local time (i) on the later of September 4, 2012 or on the first Business Day of
the month immediately following the date upon which all of the conditions to Closing set forth in Article 8 and Article 9 have been satisfied or waived (provided that if such date occurs during the month of September 2012, the Closing
shall be held on September 28, 2012), or (ii) on such other date as Buyer Parent and Seller Parent may mutually agree in writing (the “Closing Date”). 

  
 - 15 -

 2.6 Purchase Price. 

(a) The “Estimated Purchase Price” shall be equal to One Hundred Ten Million Dollars ($110,000,000), plus the Estimated
Working Capital Overage, if any, minus the Estimated Working Capital Underage, if any, minus the Closing Date Indebtedness Estimate. At the Closing, the Buyer shall pay or deliver the Estimated Purchase Price as follows: 

(i) To the Escrow Agent, the amount of Twenty Two Million Dollars ($22,000,000) (the “Escrowed
Proceeds”); and 
 (ii) In accordance with a funds flow memorandum to be agreed upon by the Seller
Parent and the Buyer Parent at least three (3) Business Days prior to the Closing Date, the Estimated Purchase Price less the Escrowed Proceeds, payable by wire transfer of immediately available funds. 

(b) At least five (5) Business Days prior to the Closing Date, Seller Parent shall deliver to Buyer Parent (i) a statement (the
“Preliminary Statement”), which shall set forth a good faith estimate of (A) the Closing Date Working Capital (the “Working Capital Estimate”) and (B) the Indebtedness of each FS Tech Entity as of
immediately prior to the Closing (the “Closing Date Indebtedness Estimate”) and (ii) a good faith estimate of a balance sheet of the Business that includes all assets and liabilities to be sold to Buyer as of immediately prior
to the Closing, in each case reasonably satisfactory to Buyer Parent. The calculation of the Working Capital Estimate as set forth in the Preliminary Statement shall be made in accordance with the sample calculation set forth on Exhibit A
hereto and the principles set forth on Exhibits B and C. The Preliminary Statement shall also set forth (x) the Estimated Working Capital Overage, or (y) the Estimated Working Capital Underage. 

(c) As soon as reasonably practicable, but not later than ninety (90) calendar days after the Closing Date, Buyer Parent shall
(i) prepare a statement (the “Closing Date Statement”) setting forth (A) the calculation of the Closing Date Working Capital, (B) the Indebtedness of each FS Tech Entity as of immediately prior to the Closing (the
“Closing Date Indebtedness Amount”), and (C) the Purchase Price Adjustment; (ii) prepare a balance sheet of the Business that includes all assets and liabilities sold to Buyer as of immediately prior to the Closing (the
“Closing Date Balance Sheet”); and (iii) deliver to Seller Parent such Closing Date Statement and Closing Date Balance Sheet. The calculation of the Closing Date Working Capital in the Closing Date Statement shall be made in
accordance with the sample calculation set forth on Exhibit A hereto and the principles set forth on Exhibits B and C hereto. 
 (d) If Seller Parent has any objections to the Closing Date Statement or the Closing Date Balance Sheet, Seller Parent will deliver to Buyer Parent a statement setting forth its objections thereto in
reasonable detail. If a statement of objections is not delivered to Buyer Parent within thirty (30) calendar days after Seller Parent’s receipt of the Closing Date Statement and the Closing Date Balance Sheet, the Closing Date Statement
and the Closing Date Balance Sheet will be final, binding and non-appealable by the parties hereto. For purposes of Seller Parent’s review of the Closing Date Statement and the Closing Date Balance Sheet, Buyer Parent shall make available to
Seller Parent the workpapers of Buyer Parent and its accountants generated in connection with the preparation of the Closing Date Statement and the Closing Date Balance Sheet (subject to the execution of customary releases and confidentiality
agreements). If Seller Parent objects to the Closing Date Statement or the Closing Date Balance Sheet and Seller Parent and Buyer Parent do not resolve Seller Parent’s objections on a mutually agreeable basis within thirty (30) calendar
days after Buyer Parent’s receipt of Seller Parent’s objections, the remaining disputed items shall be submitted for resolution to KPMG LLP (the “Independent Accountant”), and the Independent Accountant shall be given
access to all materials and information 

  
 - 16 -

 
reasonably requested by it for such purpose. In resolving any disputed item, the Independent Accountant (i) shall be bound by the provisions of this Section 2.6, (ii) may
not assign a value to any item greater than the greatest value claimed for such item or less than the smallest value claimed for such item, and (iii) shall limit its decision to such items as are in dispute. The fees, costs and expenses of the
Independent Accountant shall be borne by Buyer Parent, on the one hand, and Seller Parent, on the other hand, in inverse proportion to their relative success in the resolution of such disputed items. The Independent Accountant’s determination
of all such matters shall be binding on the Buyer and Seller Parent and shall not be subject to appeal. Upon the agreement of Buyer Parent and Seller Parent or the decision of the Independent Accountant, then the Closing Date Statement, as so
adjusted (if applicable) (the “Final Closing Date Statement”), and the Closing Date Balance Sheet, as so adjusted (if applicable) (the “Final Closing Date Balance Sheet”), shall be final, conclusive and binding
against Buyer Parent and Seller Parent. The “Date of the Final Closing Date Statement” shall mean the date on which Buyer Parent and Seller Parent agree on the Final Closing Date Statement and the Final Closing Date Balance Sheet or
the date of the Independent Accountant’s decision as to the Final Closing Date Statement and the Final Closing Date Balance Sheet, as applicable. 
 (e) If the Estimated Purchase Price is less than the Purchase Price, then Seller Parent shall be entitled to receive, promptly and in any event within five (5) Business Days following the Date of the
Final Closing Date Statement, from Buyer Parent an amount equal to such deficiency. If the Estimated Purchase Price exceeds the Purchase Price, then Buyer Parent shall be entitled to receive, promptly and in any event within five (5) Business
Days following the Date of the Final Closing Date Statement, from Seller Parent an amount equal to such excess. The amount of any payment to be made pursuant to this Section 2.6(e) (the “Purchase Price Adjustment”) shall
be paid in immediately available funds. 
 2.7 Escrow. At or prior to the Closing, Seller Parent and Buyer Parent shall
enter into an escrow agreement with the Escrow Agent with respect to the Escrowed Proceeds (the “Escrow Agreement”), in substantially the form set forth in Exhibit D hereto. The Escrowed Proceeds shall be administered in
accordance with the Escrow Agreement. The Escrowed Proceeds will be held by the Escrow Agent for payment pursuant to Article 12 (“Survival; Indemnification”) and the Escrow Agreement. 

2.8 Prorations. With respect to accrued Real Property, Personal Property and other Taxes, utility and similar payments arising
from the ownership or use of the Assets and the operation of the Business, the accrued rents and other payments under the Real Property Leases, the Personal Property Leases and the Assumed Contracts and similar accrued items all as relating to a
Straddle Period, the Buyer shall be responsible for the pro rata portion thereof based upon the number of days in such Straddle Period following the Closing Date as a percentage of the total number of days in such Straddle Period. 

2.9 Purchase Price Allocation. 
 (a) The Purchase Price (plus Assumed Liabilities, to the extent properly taken into account under the Code), increased or decreased, as the case may be, by the Purchase Price Adjustment, shall be
allocated among the Assets in accordance with Section 1060 of the Code and Treasury regulations promulgated thereunder (and any similar provision of state, local or foreign Law, as appropriate) (the “Allocation”). To the extent
necessary to determine the amount of Transfer Taxes or other Taxes required to be paid at or in connection with the Closing, a preliminary Allocation (the “Preliminary Allocation”) shall be prepared by Duff & Phelps at
least thirty (30) days prior to the Closing Date. The Seller Parent shall be responsible for one-third (1/3) of the fees and costs of the engagement of Duff & Phelps but only up to the amount of $16,667. The Buyer Parent shall be
responsible for all the remaining fees and costs of the engagement of Duff & Phelps. Seller Parent and Buyer Parent shall work in good faith to resolve any disputes relating to the Preliminary Allocation. The engagement of Duff &
Phelps shall include reasonable assurances of confidentiality and use of information of Seller Parent, 

  
 - 17 -

 
Buyer Parent and their respective Affiliates. If Seller Parent and Buyer Parent are unable to resolve any such dispute regarding the Preliminary Allocation within ten (10) days of Seller
Parent’s delivery of the Preliminary Allocation to Buyer Parent, such dispute shall be resolved promptly by the Independent Accountant, the costs of which shall be borne equally by Seller Parent and Buyer Parent. Within sixty (60) days
after the determination of the Purchase Price Adjustment, Duff & Phelps shall deliver to Seller Parent and Buyer Parent a final Allocation (the “Final Allocation”). Seller Parent and Buyer Parent shall work in good faith to
resolve any disputes relating to the Final Allocation. If Seller Parent and Buyer Parent are unable to resolve any such dispute regarding the Final Allocation within ten (10) days of Seller Parent’s delivery of the Final Allocation to
Buyer Parent, such dispute shall be resolved promptly by the Independent Accountant, the costs of which shall be borne equally by Seller Parent and Buyer Parent. 
 (b) If the Purchase Price is adjusted pursuant to any provision of this Agreement, the Final Allocation shall be adjusted in a manner consistent with the procedures set forth in Section 2.9(a)
above and in accordance with Treasury Regulations Section 1.1060-1(c). 
 (c) Seller Parent and Buyer Parent shall file all
Tax Returns (including IRS Form 8594) consistent with the Final Allocation. Neither Seller Parent nor Buyer Parent shall take any tax position inconsistent with such Final Allocation and neither Seller Parent nor Buyer Parent shall agree to any
proposed adjustment to the Final Allocation by any Tax authority without first giving the other party prior written notice; provided, however, that nothing contained herein shall prevent Seller Parent or Buyer Parent from settling any proposed
deficiency or adjustment by any Tax authority based upon or arising out of the Final Allocation, and neither Seller Parent nor Buyer Parent shall be required to litigate before any court any proposed deficiency or adjustment by any Tax authority
challenging such Final Allocation. Not later than thirty (30) days prior to the filing of their respective IRS Forms 8594 relating to this transaction, each of Seller Parent and Buyer Parent shall deliver to the other party a copy of its
Form 8594. 
 2.10 Title and Risk. Title to the Assets shall not pass until Closing. 

(a) The Sellers shall continue to carry on the Business for their own benefit and at their own risk up to Closing. The Assets shall be at
the risk of the Buyer from Closing. 
 (b) In relation to Assets owned by Sellers and located in England, those Assets are sold
with full title guarantee. 
 ARTICLE 3 
 REPRESENTATIONS AND WARRANTIES OF SELLER PARENT 
 Seller Parent
hereby gives to the Buyer the following representations and warranties; provided, however, that the representations and warranties of this Article 3 shall be qualified by any exceptions disclosed in the Schedules corresponding to the
enumerated section of this Article 3 and to any other section of this Article 3 to which any such disclosure is reasonably apparent. 
 3.1 Status of the Sellers. 
 (a) Corporate Existence and Status.

 (i) The Sellers are corporations or limited liability companies, as the case may be, duly organized, validly
existing, and in good standing (to the extent the concept of good standing is applicable in their jurisdiction of incorporation) under the Laws of their respective jurisdictions of incorporation or formation. 

  
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 (ii) Each Seller is qualified to do business and is in good standing (to the
extent the concept of good standing is applicable in a particular jurisdiction) in all jurisdictions in which the character of the properties owned, leased or operated by it or the nature of the Business makes such qualification necessary.

 (b) Corporate Power. Each FS Tech Entity has all requisite corporate or limited liability company power and authority
to own and lease its Properties and otherwise to conduct the Business in all material respects as currently conducted. 
 (c)
Authorization. 
 (i) Each Seller has the right, power and authority to enter into this Agreement and each
other agreement, instrument or other document required to be executed by such Seller hereunder (collectively, the “Other Agreements”), to consummate the transactions contemplated by, and otherwise to comply with and perform its
obligations under, this Agreement and the Other Agreements. 
 (ii) The execution and delivery by each Seller of
this Agreement and the Other Agreements to which it is a party, and the consummation by each Seller of the transactions contemplated by, and other compliance with and performance of its obligations under, this Agreement and the Other Agreements to
which it is a party, have been duly authorized by all necessary corporate or limited liability company action on the part of such Seller, are in compliance with its governing documents (including its certificate of incorporation and bylaws or other
comparable governing documents) and applicable Law, and no additional corporate action is necessary to authorize the execution and delivery of this Agreement and the Other Agreements by any of the Sellers. 

(iii) This Agreement and the Other Agreements to which each Seller is a party constitute legal, valid and binding
agreements of such Seller enforceable against it in accordance with their respective terms, except to the extent that such enforceability may be limited by (A) the effect of any applicable bankruptcy, insolvency, reorganization, moratorium,
rehabilitation or similar Laws relating to the enforcement of creditors’ rights generally, (B) the availability of the remedies of specific performance or injunctive relief which may be subject to the discretion of the court before which
any Proceeding for such remedies may be brought, or (C) the exercise by any court of its discretion in invoking general principles of equity (the “Equitable Exceptions”). 

(d) Absence of Violations or Conflicts. Except as disclosed in Schedule 3.1(d) or as required under the Antitrust
Laws, the execution and delivery by each Seller of this Agreement and the Other Agreements to which such Seller is a party and the consummation by each Seller of the transactions contemplated by, or other compliance with or performance under, this
Agreement and such Other Agreements by such Seller, do not and will not with the passage of time or giving of notice or both, constitute a violation of, be in conflict with, result in the acceleration of, constitute a default or require any payment
under, permit a termination of, require any consent under, or result in the creation or imposition of any Lien or other adverse Claim other than Permitted Encumbrances upon any Properties of any FS Tech Entity under (i) any Material Contract,
Lease, Intellectual Property License or Debt Instrument to which such FS Tech Entity is a party or by which it or its respective properties or assets may be bound, (ii) any Order of any Governmental Authority to which such Seller or any of its
respective Properties are subject or bound, (iii) to the Knowledge of the Sellers, any applicable Law, or (iv) any governing documents of any Seller (including its certificate of incorporation and bylaws or other comparable documents).

  
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 (e) No Governmental Consents Required. Except as set forth in
Schedule 3.1(e) or as may be required under the Antitrust Laws, no consent, Permit, Environmental Permit, approval, Order or authorization of, or registration, declaration or filing with, any Governmental Authority by or with respect to
any Seller is required in connection with its execution or delivery of this Agreement or the Other Agreements to which it is a party or the consummation of the transactions contemplated by, or other compliance with or performance under, this
Agreement or such Other Agreements by such Seller, excluding, however, such filings as may be required under the Antitrust Laws. 
 (f) Title. The Sellers have good, valid and marketable title to, or a valid leasehold interest or license in, the Assets including without limitation all properties and assets reflected in the
Interim Financial Statements (except for inventory sold since the date thereof in the Ordinary Course of Business), free and clear of all Liens and other encumbrances and defects of title of any nature whatsoever other than Permitted Encumbrances
and the Liens set forth on Schedule 3.1(f). 
 3.2 Financial Matters. 

(a) Financial Statements. Seller Parent has previously delivered to the Buyer true and complete copies of (i) the unaudited
combined financial statements of the FS Tech Entities as of December 31, 2010 and December 31, 2011 consisting of a combined balance sheet as of such date and the related income statement for the twelve-month period then ended (the
“Combined Financial Statements”), and (ii) the unaudited combined balance sheet of the FS Tech Entities as of March 31, 2012 and the related unaudited combined statement of income for the three-month period ended as of
March 31, 2012 (the “Interim Financial Statements” and together with Combined Financial Statements, the “Financial Statements”). The Combined Financial Statements: (i) have been prepared in accordance with
GAAP throughout the periods covered thereby (except for the absence of footnote disclosure and except as otherwise described in the exceptions set forth on Schedule 3.2(a)); (ii) fairly present, in all material respects, the combined
financial position and results of operations of the FS Tech Entities as of the dates and for the years indicated; and (iii) are consistent in all material respects with the books and records of the FS Tech Entities. The Interim Financial
Statements: (i) have been prepared in accordance with GAAP throughout the periods covered thereby (except for the absence of footnote disclosure and except as otherwise described in the exceptions set forth on Schedule 3.2(a));
(ii) fairly present, in all material respects, the combined financial position and results of operations of the FS Tech Entities as of the dates and for the period indicated; (iii) are consistent in all material respects with the books and
records of the FS Tech Entities; and (iv) subject to ordinary year-end adjustments commonly reserved for year-end financial statements. 
 (b) Absence of Material Changes or Events. Except as set forth on Schedule 3.2(b), since March 31, 2012, with respect to each FS Tech Entity, there has not been any: 

(i) Material Adverse Effect; 
 (ii) material damage, destruction, condemnation, loss of Assets (whether or not covered by insurance) or other event; 

(iii) sale, lease, abandonment or other disposition of any Assets, except in the Ordinary Course of Business; 

  
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 (iv) increase or enhancement of the compensation or benefits of any Business
Employees other than in the Ordinary Course of Business; 
 (v) Indebtedness, including any indebtedness for
money borrowed, or mortgaged, pledged or subjecting of any of the Assets to any Lien, conditional sales contract or other encumbrance of any nature whatsoever, or guaranteed any Indebtedness or liabilities of any third Person, other than any
professional fees and liabilities incurred in connection with the transactions contemplated hereby; 
 (vi)
amendment, termination or cancellation of any Material Contract, Real Property Lease, Personal Property Lease, Intellectual Property License, Debt Instrument, Insurance Policy, commitment, or plan to which such entity is a party or by which such
entity is bound; 
 (vii) actual or threatened labor trouble, strike or other occurrence, event or condition or
any similar character which has had or might have an adverse effect on its Business, operations, or Assets; 

(viii) change of the accounting principles followed or the methods of applying such principles; 

(ix) making, revoking or amending any Tax election, changing any method of Tax accounting or Tax procedure or practice,
settling, or compromising any Tax contest with respect to the any of the FS Tech Entities and, if any such action will be binding on the Buyer or its Affiliates after the Closing Date, creating a Lien on, or otherwise impacting the Tax position of
the Buyer or its Affiliates with respect to the Assets; 
 (x) failure to use commercially reasonable efforts to
preserve intact the Sellers’ Business organization, or willfully engaged in any act or omission that would be reasonably likely to cause the Sellers to fail to (i) keep available the services of its employees; or (ii) preserve the
goodwill of and maintain satisfactory relationships with any material customers or suppliers; 
 (xi) failure to
take commercially reasonable actions to maintain, in all material respects, the condition of the Assets; 
 (xii)
material transactions other than in the Ordinary Course of Business; or 
 (xiii) taking, or agreement to take,
any action or failure to take, or agreement not to take, any action that would result in the occurrence of any of the foregoing. 
 (c) Absence of Undisclosed Liabilities. Except (i) as referenced in the Financial Statements, (ii) for liabilities and obligations arising since March 31, 2012 in the Ordinary Course
of Business, (iii) for liabilities and obligations such as contractual obligations which would not be required to be disclosed in the Financial Statements, or (iv) as set forth on Schedule 3.2(c), no FS Tech Entity has any
Indebtedness or material obligations or liabilities including any liability for Taxes. For the avoidance of doubt, “obligations or liabilities” shall include, without limitation, any direct or indirect Indebtedness, guaranty, endorsement,
claim, and whether fixed or unfixed, known or unknown, asserted or unasserted, choate or inchoate, accrued or unaccrued, liquidated or unliquidated, secured or unsecured and whether due or to become due, absolute, contingent or otherwise.

  
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 (d) Sales and Assets by Country. Schedule 3.2(d) sets forth a complete and
accurate list of the sales and assets by country for the last fiscal year of each FS Tech Entity. 
 (e) Cash Collected on
Behalf of Customers. Schedule 3.2(e) fairly presents the cash collected by each FS Tech Entity on behalf of any customers that is in the custody of such FS Tech Entity. Schedule 3.2(e) additionally specifies the date on which each
FS Tech Entity is obligated to remit any such cash to any such customer. 
 3.3 Taxes. 

(a) Except as set forth in Schedule 3.3(a), to the Knowledge of the Sellers, the FS Tech Entities have filed or caused to be filed
when due (taking into account permitted extensions, if any) all Tax Returns required to be filed by them on or before the Closing Date and have paid all amounts due and owing thereunder. Each such Tax Return is complete and accurate in all respects.
None of the Sellers is currently a beneficiary of any extension of time within which to file any material Tax Return other than extensions of time to file Tax Returns obtained in the Ordinary Course of Business. 

(b) Except as listed in Schedule 3.3(b), no Proceeding or audit is pending against or with respect to the Sellers regarding Taxes.
The Sellers have not waived any statute of limitations with respect to or potentially affecting Taxes of any of the FS Tech entities, and have not agreed to any extension of time with respect to a Tax assessment or deficiency related to any such
Taxes. 
 (c) The FS Tech Entities do not have any liability for the Taxes of any Person under Treasury Regulation
Section 1.1502-6 (or any similar provision of state, local, or foreign Law), by contract or otherwise, as a transferee or successor. None of the FS Tech Entities is a party to any Tax sharing agreement. 

(d) All Taxes that the FS Tech Entities that are required by Law to withhold or collect, including without limitation, sales and use
taxes, and amounts required to be withheld for Taxes of employees, have been duly withheld or collected and, to the extent required, have been paid over to the proper governmental authorities or are held in separate bank accounts for such purpose.

 (e) None of the FS Tech Entities has ever had a permanent establishment in any jurisdiction other than the jurisdiction of
such entity’s incorporation.
 3.4 Real and Personal Property. 

(a) Real Property. No FS Tech Entity holds legal or equitable title to any real property. 

(b) Real Property Leases; Subleases. Schedule 3.4(b) lists all Leases of Real Property to which a FS Tech Entity is a party
or to which Seller Parent is a party with respect to the Business (collectively, “Real Property Leases”). With respect to each Real Property Lease: (i) no Seller is, and to Knowledge of the Sellers, no other party to such Real
Property Lease is, in breach or default in connection with such Real Property Lease; (ii) no act or event has occurred which, with notice or lapse of time or both, would be expected to constitute a breach or default under such Lease with
respect to a Seller or to the Knowledge of the Sellers, with respect to any other party; (iii) no Seller has given or received any notice of cancellation or termination in connection with such Lease; (iv) such Lease is the legal, valid and
binding agreement of such Seller party thereto, as applicable, and is in full force and effect and enforceable in accordance with its terms, except as enforceability may be limited by the Equitable Exceptions; and (v) the applicable Seller has
a valid leasehold interest in all leased Real Property, free and clear of all Liens, except for Permitted Encumbrances. The Sellers have made available to the Buyer a true and complete copy of each Real Property Lease (including all amendments,
modifications and supplements thereto). 

  
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 (c) Personal Property. Except as disclosed in Schedule 3.4(c), each FS Tech
Entity owns (free and clear of all Liens, Claims and encumbrances, other than Permitted Encumbrances), or has a valid license or the right to use, all tangible personal property owned and used by such FS Tech Entity in the Business, including, but
not limited to, inventory of raw materials, supplies, work-in-progress, and finished goods relating to the Business, as well as all machinery, equipment, automobiles, vehicles, furniture, fixtures, tools and machine tools, and related spare parts
and supplies, together with all manuals, written warranties and other similar documents relating thereto used in the Business (collectively, the “Personal Property”). Schedule 3.4(c) lists all Leases of Personal Property used
in the Business which are in excess of $100,000 in amount or which are not terminable by the applicable FS Tech Entity on thirty (30) days (or fewer) prior notice (the “Personal Property Leases”). The Sellers have made
available to the Buyer a true and complete copy of each Personal Property Lease (including all amendments, modifications and supplements thereto). 
 3.5 Intellectual Property. 
 (a) All domain name registrations and all
applications and/or registrations for any other Intellectual Property are listed in Schedule 3.5(a). All material Contracts relating to the use or license (including sublicense) of Technology, including certain off-the-shelf software
licenses, are listed in Schedule 3.5(a) (the “Intellectual Property Licenses”). Except as expressly listed as an exception in Schedule 3.5(a): 

(i) all Intellectual Property owned by any FS Tech Entity immediately prior to the Closing Date will be owned or available
for use by the Buyer on identical terms and conditions immediately subsequent to the Closing Date; 
 (ii) to the
Knowledge of the Sellers, each FS Tech Entity owns (free and clear of all Liens and other Claims, other than Permitted Encumbrances), or has the right to use, all Intellectual Property, whether under Intellectual Property Licenses or otherwise,;

 (iii) all Intellectual Property that any FS Tech Entity uses, are not subject to any outstanding Order entered
against any FS Tech Entity; 
 (iv) no Proceeding or Claim is pending or, to the Knowledge of the Sellers, has
been threatened against any of the Sellers which challenges the legality, validity, enforceability, use, or ownership of the Intellectual Property that any FS Tech Entity uses or has used; 

(v) no Intellectual Property owned by a FS Tech Entity in the Business is the subject of any Proceeding and to the
Knowledge of the Sellers, no Intellectual Property licensed or otherwise used in the Business is the subject of any Proceeding; 
 (vi) to the Knowledge of the Sellers, no third party has, since January 1, 2008, infringed upon, or misappropriated, any Intellectual Property rights of such FS Tech Entity; 

(vii) since January 1, 2008, to the Knowledge of the Sellers, no FS Tech Entity has infringed upon or misappropriated
any intellectual property rights of third parties and, with respect to the operation of the Business, no Seller has received any Claim or notice, written or otherwise, alleging any such infringement or misappropriation (including any Claim or
notice, written or otherwise, that Sellers must license or refrain from using any Intellectual Property of any third party); and 

  
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 (viii) to the Knowledge of the Sellers and taking into account any
allegation of infringement included within the matters set forth on Schedule 3.8, the Buyer will not infringe upon or misappropriate any intellectual property rights of third parties as a result of the continued operation of the Business as
presently conducted. 
 (b) The Sellers have delivered to the Buyer correct and complete copies of all Intellectual Property
Licenses (all as amended to date). With respect to each Intellectual Property License, except as otherwise set forth in Schedule 3.5(a): 
 (i) no FS Tech Entity or, to the Knowledge of the Sellers, any other party, is in breach or default of such Intellectual Property License; 

(ii) no FS Tech Entity has received any notice of cancellation or termination of such Intellectual Property License;

 (iii) no event has occurred which with notice or lapse of time would be expected to constitute a breach or
default by the FS Tech Entity party thereto, or permit termination, modification or acceleration of such Intellectual Property License; 
 (iv) each Intellectual Property License is the legal, valid and binding agreement of the FS Tech Entity party thereto, is in full force and effect and is enforceable in accordance with its terms, except
as enforceability may be limited by the Equitable Exceptions; 
 (v) no party has repudiated any provision of
such Intellectual Property License; 
 (vi) no Intellectual Property License requires the consent of any party to
its assignment in connection with the transactions contemplated hereby and following assignment to Buyer will be legal, valid, binding, enforceable and in full force and effect; 

(vii) to the Knowledge of the Sellers, the Intellectual Property licensed is not subject to any outstanding Order that
impacts the license of the Intellectual Property set forth in such Intellectual Property License; 
 (viii) to
the Knowledge of the Sellers, no Proceeding or Claim is pending or threatened which challenges the legality, validity, or enforceability of the Intellectual Property set forth in such Intellectual Property License; and 

(ix) no Seller has granted any sublicense or similar right with respect to any license or sublicense granted to such
Seller in such Intellectual Property License, except for licenses permissibly granted in the Ordinary Course of Business. 
 (c)
Software. In addition to Sections 3.5(a) and (b), the following provisions are applicable to Intellectual Property comprised of computer software used in the products distributed in the Business or to provide services, including but
not limited to supporting back office operations in the tolling operations of the Business by any FS Tech Entity, and proprietary to any FS Tech Entity, including but not limited to all object and source code (in machine-readable but
human-perceptible format) and related data, content and documentation (the “FS Tech Software”): 

  
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 (i) (A) The FS Tech Software is free of material defects in features,
functionality, performance, programming and operation, (B) the FS Tech Software is in machine-readable form, (C) the FS Tech Software includes all computer programs, materials, tapes, know-how, and other written materials and processes
related to the FS Tech Software sufficient to enable a software engineer to modify, compile, execute, maintain and update the FS Tech Software, and (D) the FS Tech Software may include “open source” computer software, but does not
include or incorporate any “open source” computer software in such a manner as to cause the FS Tech Software to be subject to the provisions of any “open source” software license that requires as a condition of distribution or
use of the software subject to such license, that such FS Tech Software (excepting such “open source” software) be (i) disclosed or distributed in source code form, and/or (ii) redistributable and/or licensed at no charge.
Complete and correct copies of all existing user and technical documentation (including, but not limited to, design documentation, source code notes and comments, flow charts and all other materials used in the development or maintenance of the
existing and legacy versions of the FS Tech Software) have been or will be delivered to Buyer as a condition of Closing. 
 (ii) The Sellers are in physical possession of the full and complete source code and documentation of all FS Tech Software used in the Business of the FS Tech Entities (including but not limited to all
versions of the VESystems Enterprise Software for Toll Collections Backoffice and the IDRIS/DCS Automatic Vehicle Detection & Classification Software). 
 (iii) No Seller is or, to the Knowledge of any Seller, is any employee of Seller, in default under any term of any employment or non-competition contract, agreement or arrangement relating to the FS Tech
Software or its development or exploitation. The FS Tech Software was developed entirely by the employees and independent contractors of the FS Tech Entities (or any of them) and their predecessors, and such FS Tech Software does not include any
inventions of the employees or independent contractors made prior to the time such employees or independent contractors became such employees or independent contractors. 

(iv) Except as set forth in Schedule 3.5(c)(iv), pursuant to a Material Contract and for end-user software licenses
granted in the Ordinary Course of Business, all right, title and interest in and to the FS Tech Software, including all Intellectual Property rights, is owned by the Sellers free and clear of all Liens, other than the Permitted Encumbrances, are
fully transferable to Buyer and no party other than Sellers, including any employee or independent contractor utilized by Sellers, has any interest in the FS Tech Software. To the Knowledge of the Sellers, the Sellers’ development, use, sale or
exploitation of the FS Tech Software does not violate any rights of any other Person. The Sellers have not received any communication alleging such a violation. Except as is consistent with the Ordinary Course of Business, the Sellers do not have
any obligations to compensate any Person for the development, use, sale or exploitation of the FS Tech Software. The Sellers have not granted to any other Person any license, option or other rights to develop, use, sell or exploit in any manner the
FS Tech Software, whether requiring the payment of royalties or not, except for end-user software licenses granted in the Ordinary Course of Business. No third party authorizations or consents are required to transfer and assign the FS Tech Software
to Buyer. 

  
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 (v) Except with respect to source code escrow arrangements entered into
pursuant to a Material Contract or subject to the terms of a binding confidentiality agreement, the Sellers have kept secret and have not disclosed the source code for the FS Tech Software or any other confidential material pertaining to the FS Tech
Software to any Person. No source code (or any aspect or portion thereof) that has been provided to any escrow agent has been released from escrow to a third party, or is the subject of a request for release from escrow. The Sellers have taken
commercially appropriate measures to protect the confidential and proprietary nature of the FS Tech Software. Except as is set forth on Schedule 3.5(a), there have been no patents applied for and no copyrights registered for any part of the
FS Tech Software. 
 (vi) The Sellers have not received any communication from any end-user indicating that the
FS Tech Software has materially failed, or is materially failing, to perform as warranted in the end-user software license, nor that the Sellers are in breach of any of their material obligations under any agreement with its end-users, except for
normal service calls and requests for “bug” fixes. 
 (vii) Except as contemplated pursuant to the
Material Contracts, the Sellers have no binding obligation or commitment to any end user of the FS Tech Software to make, develop, add or support any feature or functionality to the FS Tech Software beyond the features and functionality contained
within the FS Tech Software as of the Closing Date, other than enhancements, versions or releases that the Sellers are obligated to deliver to all end-users under the terms of its standard licenses in the Ordinary Course of Business. 

(viii) The FS Tech Software does not contain, and the Sellers have taken reasonable precautions to prevent the presence
of, any malicious code, program, or other internal component (e.g., computer virus, computer worm, computer time bomb, or similar component) which would damage, destroy, or alter the FS Tech Software or other software, firmware, or hardware used by
Buyer or Buyer’s customers, or which could, in any unintended manner, reveal, damage, corrupt, destroy, or alter any data or other information accessed through or processed by the FS Tech Software. 

(ix) Any license, sublicense or other contract to which a FS Tech Entity is a party that covers or relates to FS Tech
Software is the legal, valid and binding agreement of such FS Tech Entity party thereto, is in full force and effect, and is enforceable in accordance with its terms, except as enforceability may be limited by the Equitable Exceptions. No FS Tech
Entity, and to the Knowledge of the Sellers, no other party, is in breach or default under any license, sublicense or other contract covering or relating to the FS Tech Software and no event has occurred which with notice or lapse of time or both,
would be expected to constitute a breach or default by the FS Tech Entity party thereto, or permit termination, modification or acceleration thereof. Except as may be set forth in Schedule 3.8, no litigation is pending or, to the Knowledge of
the Sellers, has been threatened against the Sellers which challenges the legality, validity, enforceability or ownership of any license, sublicense or other contract covering or relating to any FS Tech Software. 

3.6 Loans and Contracts. 
 (a) Indebtedness. Schedule 3.6(a) sets forth a true and complete list or description of all instruments or other documents to which a FS Tech Entity is a party or to which the Assets are
bound or subject creating, incurring, assuming or guaranteeing (or that may create, incur, assume or guarantee) any Indebtedness (“Debt Instruments”). The Sellers have made available to the Buyer a true and complete copy of each
Debt Instrument (including all amendments, modifications and supplements thereto). 

  
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 (b) Material Contracts. 

(i) Schedule 3.6(b) lists all of the following Contracts, agreements, commitments, arrangements, undertakings or
understandings to which a FS Tech Entity is a party or to which a FS Tech Entity is or may be bound or to which the Properties of a FS Tech Entity or the Assets are or may be bound or subject or to which Seller Parent is a party with respect to the
Business (each a “Material Contract,” provided however, such list and the term “Material Contract” shall not include the Real Property Leases referenced in Section 3.4(b), Personal Property Leases
referenced in Section 3.4(c), Intellectual Property Licenses referenced in Section 3.5(b), Debt Instruments referenced in Section 3.6(a) and Insurance Policies referenced in Section 3.6(c)):

  

	 	(A)	any agreement establishing or concerning the operation of, a partnership or joint venture or similar arrangement; 

 

	 	(B)	any agreement for the purchase or sale of products or services (excluding utilities Contracts) that has a value in excess of $100,000, individually, or, for a series of
related Contracts with the same party, in the aggregate, or a remaining term of greater than twelve (12) months; 

  

	 	(C)	any agreement that prohibits a FS Tech Entity or any of its Affiliates from freely engaging in business in any line of business, anywhere in the world;

  

	 	(D)	any agreement that grants any exclusive marketing, distribution, Intellectual Property or other similar rights to any third party; 

 

	 	(E)	any agreement that contains any form of most-favored pricing provision in favor of any customer or supplier of the Business; 

 

	 	(F)	any agreement with a consultant, distributor, lobbyist, or other third-party agent; 

 

	 	(G)	any written agreement with any Business Employee or independent contractor of the FS Tech Entities providing for wage, bonus, consulting fee, equity grants, or similar
compensation opportunities or providing for any employment relationship with any Business Employee that is not “employment at will”; 

  

	 	(H)	any agreement that requires any performance collateral in the form of payment bonds, performance bonds, warranty bonds and/or bank letters of credit;

  

	 	(I)	any agreement under which there is an outstanding advance or loan, or a commitment to make any advance or loan, to any other Person, but in each case only to the extent
that any such advance or loan exceeds (or under the terms of the commitment could exceed) $100,000; 

  
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	 	(J)	any agreement, including but not limited to any guarantee, obligating a FS Tech Entity to indemnify any other Person in an amount in excess of $100,000, other than in
connection with the operation of the Business in the Ordinary Course of Business; 

  

	 	(K)	agreements since January 1, 2008, for the acquisition of capital stock or assets of another Person (whether by merger, stock or asset purchase), except for
agreements for the acquisition of inventory or other assets in the Ordinary Course of Business; 

  

	 	(L)	any written severance or termination agreement with any current Business Employee or independent contractor of the FS Tech Entities; 

 

	 	(M)	any collective bargaining agreement or similar labor agreement involving any Business Employees or covering any Business operation or activity;

  

	 	(N)	any agreement to pay or receive any royalty or license fee for any Intellectual Property (other than any non-exclusive license for the use of any commercially available
off-the-shelf software which was entered into in the Ordinary Course of Business); 

  

	 	(O)	each outstanding power of attorney with respect to the Business; 

  

	 	(P)	any agreement that requires any source code to be escrowed; and 

  

	 	(Q)	any agreement not entered into in the Ordinary Course of Business of the Business. 

(ii) The Sellers have made available to the Buyer a true and complete copy of each written Material Contract and a
description of each oral Material Contract (including all amendments, modifications and supplements thereto). 
 (c)
Insurance. Schedule 3.6(c) sets forth a list of each insurance policy currently in effect as of the date of this Agreement which covers each FS Tech Entity or relates to the Business (the “Insurance
Policies”). With respect to each such Insurance Policy: (i) the policy is legal, valid, binding, enforceable, and in full force and effect; (ii) the applicable FS Tech Entity is not in breach or default (including with
respect to the payment of premiums or the giving of notices), and no event has occurred which, with notice or lapse of time, would be expected to constitute such a breach or default, or permit termination, modification, or acceleration, under the
policy; and (iii) no party to the policy has repudiated any provision thereof. The FS Tech Entities have been covered by insurance in scope and amount customary and reasonable for the businesses in which they have engaged for the past three
(3) years. The Sellers have made available to the Buyer a true and complete copy of the loss-runs for the Business for the past three (3) years. 
 (d) Status. Except as disclosed on Schedule 3.6(d): (i) no Seller or, to the Knowledge of the Sellers, any other party, is in breach or default in connection with any Lease, Debt
Instrument or Material Contract; (ii) no Seller has received any notice of cancellation or termination in connection with any Lease, Debt Instrument or Material Contract; (iii) no event has occurred which with notice or lapse of time would
be expected to constitute a breach or default by the Seller party thereto, or 

  
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permit termination, modification or acceleration in connection with any Lease, Debt Instrument or Material Contract; (iv) each Lease, Debt Instrument and Material Contract is the legal,
valid and binding agreement of the Seller party thereto, is in full force and effect and is enforceable in accordance with its terms, except as enforceability may be limited by the Equitable Exceptions; (v) no party has repudiated any provision
of any Lease, Debt Instrument or Material Contract; and (vi) no Lease, Debt Instrument or Material Contract requires the consent of any party to its assignment in connection with the transactions contemplated hereby. 

(e) Except as disclosed on Schedule 3.6(e) and as provided in the following sentence, all of the Material Contracts are directly
or indirectly used in the Business and, subject to obtaining any necessary third party consents to assignment, are Assumed Contracts. For the avoidance of doubt, as stated in Section 2.1(e), the Assumed Contracts exclude any
employment-related agreements (except that any obligations of confidentiality are included as Assumed Contracts and except with respect to the UK Employees consistent with Section 2.3(c)), including those Material Contracts described in
Sections 3.6(b)(i)(G), (L), and (M). 
 3.7 General Employee Matters; Withholdings; Employee Plans and
Benefits. 
 (a) Employees/Independent Contractors. Schedule 3.7(a) lists all Business Employees, except with
respect to the UK Employees which are not listed by name, as well as each such employee’s (i) annual salary or hourly rate of pay; (ii) other compensation payable (including compensation payable pursuant to bonus, incentive, deferred
compensation, commission, or similar arrangements); (iii) position; (iv) work location and employing entity (e.g., Seller Parent or applicable FS Tech Entity); (v) date of commencement and date of recognized service (if different);
(vi) whether the employee is classified as exempt or non-exempt under the Fair Labor Standards Act and comparable state Laws; and (vii) the employee’s status as full-time, part-time or temporary, as applicable. Schedule 3.7(a)
further lists all independent contractors who work for or in connection with the Business, as well as each such independent contractor’s (i) fee; (ii) description of services or deliverables; and (iii) date and term of any
independent contractor agreement entered into in connection with such contractor’s services for or in connection with the Business. 
 (b) Employment Laws/Labor Matters. With respect to the Business, the Sellers are in compliance in all material respects with all applicable Laws regarding employment and employment practices, terms
and conditions of employment and wages and hours applicable to the Business (the “Labor Laws”), including but not limited to those relating to discrimination, harassment, retaliation, hours of work, compensation, payment of wages
and overtime, meal and rest periods, employment, termination of employment, employee benefits, and notice and severance obligations. Except as set forth on Schedule 3.7(b), the Sellers are not party to any collective bargaining agreement
covering the Business Employees or the Business or is engaged in or seeking to be engaged in collective bargaining with respect to the Business Employees or the Business. The Sellers have not engaged in any unfair labor practice since
January 1, 2008 in relation to the operation of the Business or with respect to any Business Employees. There is no labor strike or significant dispute, slowdown or stoppage actually pending or, to the Knowledge of the Sellers, threatened,
against or involving the Business. The Business is in compliance in all material respects with all Equal Employment Opportunity, Affirmative Action, and similar obligations regarding employment practices and employment records arising under federal,
state, or local Laws pertaining to government contracting, or under the terms of any government contract, including but not limited to those enforced by the Department of Labor’s Office of Federal Contract Compliance Programs or similar state
or local agencies. Each material employee pension arrangement maintained by the Sellers in relation to the conduct of the Business is in compliance with applicable Laws in all material respects and its terms. 

  
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 (c) Withholdings. Except as set forth on Schedule 3.7(c), proper and accurate
amounts have been withheld by the Sellers from payments to the Business Employees for all periods prior to the Closing Date in compliance with the Tax withholding provisions of applicable Laws in all material respects. 

(d) Employee Plans and Benefits. Schedule 3.7(d) lists all material Benefit Plans, all material bonus, stock option, stock
purchase, restricted stock, restricted stock unit, incentive compensation, deferred compensation, paid time off, retiree medical or life insurance, supplemental retirement, severance and other benefit plans, programs or arrangements, and all
material change in control, retention, severance or other similar material contracts or agreements, whether or not subject to ERISA (but not including any benefit plan administered, sponsored or maintained by any governmental entity): (1) which
are maintained, contributed to or sponsored by Seller Parent for the benefit of any Business Employee (the “Seller Employee Plans”), (2) with respect to which the Seller Parent has any material obligation to any Business
Employee, or (3) which are maintained or sponsored by any of the FS Tech Entities (the “FS Tech Employee Plans”) (collectively, the “Employee Plans”). The Seller Parent has made available to the Buyer a true
and complete copy of each Employee Plan (and any amendments thereto), including (if applicable) the most recent summary plan descriptions thereof. No Employee Plan is a multiemployer plan (within the meaning of section 3(37) of ERISA). Except as set
forth in Schedule 3.7(d), (x) no FS Tech Employee Plan provides health or other welfare benefits to former employees of the Business other than as required by COBRA, and (y) during the past six years, neither the Seller Parent nor
any of the FS Tech Entities have made contributions to or been obligated to make contributions to a multiemployer plan (within the meaning of section 3(37) of ERISA). Each of the FS Tech Employee Plans, the Seller Pension Plan and the Seller 401(k)
Plan have been maintained and administered in accordance with its terms and in compliance in all material respects with all applicable Laws. Each Employee Plan that is intended to be qualified under section 401(a) of the Code has timely received a
favorable determination letter from the Internal Revenue Service that the Employee Plan is so qualified and each trust established in connection with any Employee Plan which is intended to be exempt from federal income taxation under section 501(a)
of the Code has received a determination letter from the Internal Revenue Service that it is so exempt, and, to the Knowledge of the Sellers, no event or circumstance has occurred since the date of such determination letter or letters that would
adversely affect the qualified status of any such Employee Plan or the exempt status of any such trust. 
 (e) Labor/
Employment Proceedings. Except as set forth on Schedule 3.7(e), the Sellers are not party or subject to any Proceeding brought by or on behalf of any applicant for employment with the Business, Business Employee, independent contractor of
the Business, or any class of the foregoing, or to any audit, compliance review or investigation of any kind regarding employment or labor practices, including but not limited to any audit, compliance review or investigation by the Equal Employment
Opportunity Commission, Department of Labor, Occupational Safety and Health Administration, or Office of Federal Contract Compliance Programs, or any similar state or local agency. 

(f) Classification. Schedule 3.7(f) sets forth the classification of the independent contractors or employees of some other
entity whose services are leased to the Sellers. No Claim has been received, or to the Knowledge of the Sellers, has been threatened, by or on behalf of any such individual that is contrary to such person’s classification. 

(g) Miscellaneous. 
 (i) Each Business Employee located in the United States and hired after November 8, 1986, has completed and the FS Tech Entity has retained a Form I-9 in accordance with applicable rules and
regulations, and no Business Employee is a non-immigrant employee whose status would terminate or otherwise be affected by the business transactions contemplated by this Agreement. 

  
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 (ii) Except as set forth on Schedule 3.7(g), no Business Employee
having a total annual compensation of more than $80,000 has given notice to any FS Tech Entity of his or her intent to terminate employment with the FS Tech Entities. 

(iii) Except as set forth on Schedule 3.7(g) and except with regard to the UK Employees, the employment
relationship between the Sellers and the Business Employees is “employment at will.” 
 (h) WARN Act
Compliance. In the year preceding the date of this Agreement, the Sellers have not engaged in any plant closing, workforce reduction or other action related to any current or former Business Employees which has resulted or could result in
liability under the WARN Act or under any comparable Law or regulation of a state, local or foreign jurisdiction applicable to the Business, and have not issued any notice that any such action is to occur in the future and have not given notice of
any redundancies or started consultations with TULCRA or TUPE. 
 (i) Sale Bonus Agreements. Except as set forth on
Schedule 3.7(i), neither the execution of this Agreement or the consummation or performance of any of the transactions contemplated by this Agreement will (either immediately or with the passage of time or continued employment)
(i) result in any payment (including severance, golden parachute, transaction bonus, sale bonus or otherwise) becoming due to any Business Employee, (ii) increase the amount of benefits payable to any Business Employee under any Employee
Plans, or (iii) result in the acceleration of the time of payment or vesting of any such benefits (each such payment, increase, bonus, or acceleration is referred to as a “Sale Bonus Agreement”). 

3.8 Litigation and Other Proceedings. Except as disclosed in Schedule 3.8, since April 1, 2007, no FS Tech Entity or
any Asset is or has been engaged in, a party to, subject to or, to the Knowledge of the Sellers, threatened with any Claim, legal or equitable action, or other Proceeding (whether as plaintiff, defendant or otherwise and regardless of the forum or
the nature of the opposing party). To the Knowledge of the Sellers, there are no investigations pending by any Governmental Authority relating to the Business. No FS Tech Entity is subject to any outstanding Order of any Governmental Authority or
arbitrator. None of the Proceedings set forth in Schedule 3.8 or the Financial Statements is expected to have a Material Adverse Effect. The Sellers have no Knowledge that any such Proceeding may be brought or threatened against any FS Tech
Entity. Schedule 3.8 lists each governmental Order in connection with the FS Tech Entities or any of their respective officers, employees or directors since April 1, 2007. 

3.9 Compliance with Laws. 
 (a) Generally. Except as set forth in Schedule 3.9(a), each FS Tech Entity is conducting its Business in compliance in all material respects with all applicable Laws, but excluding,
however, Environmental Laws, as to which Seller Parent’s sole representations and warranties are set forth in Section 3.10, and excluding Labor Laws, as to which Seller Parent’s sole representations and warranties
are set forth in Section 3.7. Since April 1, 2007, no FS Tech Entity has received notice of any Proceeding or Claim, or any other communication, relating to the Business alleging any failure to so comply. 

  
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 (b) Permits. Schedule 3.9(b) lists all Permits of each FS Tech Entity. Each
Permit listed in Schedule 3.9(b) is in full force and effect and no FS Tech Entity is in violation of or default under any Permit, and since April 1, 2007 no suspension, cancellation or termination of any Permit has been threatened and
no Seller otherwise has Knowledge that any Governmental Authority intends to suspend, cancel or terminate any Permit. Except as set forth in Schedule 3.9(b), each FS Tech Entity holds all Permits necessary to operate the Business as currently
operated. 
 3.10 Environmental Matters. Except as disclosed on Schedules 3.10(a) or (b), as applicable:

 (a) The FS Tech Entities are each in compliance with all applicable Environmental Laws in all material respects, and have been
in compliance with all applicable Environmental Laws in all material respects since January 1, 2008. No FS Tech Entity has been required by any Governmental Authority to perform any clean-up or corrective action relating to Hazardous Substances
on any Real Properties (including any buildings, structures, improvements, soils and surface, subsurface and ground waters thereof) currently owned, leased or operated by or for any FS Tech Entity. No FS Tech Entity has owned or used any underground
storage tank containing Hazardous Substances and, to the Knowledge of the Sellers, no underground improvement containing Hazardous Substance, including any underground treatment or storage tank or water, gas or oil well, is or has been located on
any Real Property. No Seller has received any notice that a FS Tech Entity is actually, contingently, potentially or allegedly liable under any Environmental Law for any Release of, threatened Release of or contamination of the Environment by
Hazardous Substances. There is no pending or, to the Knowledge of the Sellers, threatened investigation by any Governmental Authority, nor any pending or, to the Knowledge of the Sellers, threatened Proceeding with respect to: (i) any FS Tech
Entity, or (ii) any Person for whom any Environmental Claim has been retained or assumed contractually by any FS Tech Entity, or (iii) any Real Property, relating to Hazardous Substances or otherwise under any Environmental Law.

 (b) Schedule 3.10(b) sets forth a list of all Environmental Permits. Each such Environmental Permit is in full force
and effect and no FS Tech Entity is in violation of or default under any Environmental Permit. Since January 1, 2008, no suspension, cancellation or termination of any Environmental Permit has been threatened and no Seller otherwise has
Knowledge that any Governmental Authority intends to suspend, cancel or terminate any Environmental Permit. Each FS Tech Entity holds all Environmental Permits necessary to operate the Business as currently operated. The Real Properties are in
compliance with each Environmental Permit in all material respects, and true and correct copies of each such Environmental Permit have been delivered to the Buyer. 
 3.11 Bank Accounts. Schedule 3.11 lists all bank, money market, savings and similar accounts and safe deposit boxes of each FS Tech Entity, specifying the account numbers and the authorized
signatories of the Sellers. 
 3.12 Brokers and Commissions. Except as disclosed in Schedule 3.12, no Person has
asserted or is entitled to any commission or broker’s or finder’s fee in connection with the transactions contemplated by this Agreement by reason of any act or omission of any Sellers. Seller Parent shall satisfy the obligations set forth
in Schedule 3.12. 
 3.13 Suppliers. Schedule 3.13 sets forth the names of the 20 largest suppliers of each
Business Unit (measured by Dollar value for the twelve calendar months ended December 31, 2011). Since December 31, 2011, none of such suppliers has notified Seller Parent or the appropriate Business Unit that it is (a) cancelling or
terminating its relationship with such Business Unit, or (b) modifying its relationship with such Business Unit in any material respect. Schedule 3.13 sets forth the name of each supplier listed on Schedule 3.13 with whom a
Business Unit has had a dispute (whether written or oral) with a value in excess of $100,000 at any time since January 1, 2008. 

  
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 3.14 Customers. Schedule 3.14 sets forth the names and addresses of the 20
largest customers of each Business Unit (measured by Dollar value for the twelve calendar months ended December 31, 2011). Since December 31, 2011, none of such customers has notified Seller Parent or the appropriate Business Unit that it
is (a) cancelling or terminating its relationship with such Business Unit, or (b) modifying its relationship with such Business Unit in any material respect. Schedule 3.14 sets forth the name of each customer listed on
Schedule 3.14 with whom a Business Unit has had a dispute (whether written or oral) with a value in excess of $100,000 at any time since January 1, 2008. 
 3.15 Warranties; Products. Each product manufactured, sold, leased, or delivered by the FS Tech Entities has been in conformity with all applicable contractual commitments and all express or
implied warranties, and the FS Tech Entities have no liability (and there is no basis for any present or future Proceeding or Claim against any of them giving rise to any liability beyond any applicable warranty rights) for replacement or repair
thereof or other damages in connection therewith beyond any applicable warranty rights. Except as may be set forth on Schedule 3.15(a), no product manufactured, sold, leased, or delivered by the FS Tech Entities is subject to any guaranty,
warranty, or other indemnity beyond the applicable standard terms and conditions of sale or lease. Seller Parent has made available to the Buyer copies of the standard terms and conditions of sale or lease currently used or currently in effect in
the Business (including applicable guaranty, warranty and indemnity provisions). Except as set forth in Schedule 3.15(b) or as may be included within the matters set forth on Schedule 3.8, at any time since January 1, 2008, there
has been no product liability Claim asserted against the Business for an amount in excess of $100,000. 
 3.16 Affiliate
Transactions. Except for employment relationships and compensation, benefits, travel advances, employee loans, other Contracts in the Ordinary Course of Business or as disclosed on Schedule 3.16, no FS Tech Entity is a party to any
agreement with, or involving the making of any payment or transfer of Properties to, or guarantee of any obligation of, Seller Parent or any officer, member, partner, director or other controlling Person of Seller Parent or any Affiliate of Seller
Parent (other than each FS Tech Entity). 
 3.17 Capital Expenditures. Schedule 3.17 sets forth a true and
complete list of each individual capital expenditure in excess of $100,000 made by a FS Tech Entity since January 1, 2011. 
 3.18 Accounts Receivable. The accounts receivable of the FS Tech Entities have arisen out of the sale of products or the provision of services by them in the Ordinary Course of Business and
represent bona fide Claims completed in accordance with the terms and provisions of the documents related thereto. Invoices that are classified as more than 120 days past the due date are listed on Schedule 3.18. Accounts receivable
classified as current do not include any amounts collectible after one year except as are set forth on Schedule 3.18. No offsets, counterclaims, discounts or disputes have been asserted with respect to any portion of the accounts receivable
of the FS Tech Entities. 
 3.19 Sufficiency of Assets. Except as set forth on Schedule 3.19, the Assets include
all rights, properties and assets necessary to the conduct of the Business in the manner it is presently conducted by the Sellers. All of the material rights, properties and assets used in connection with the Business at the University Park,
Illinois facility are identified on Schedule 2.1(r). 
 3.20 Condition of Assets. The Assets are in good and
serviceable condition, subject to ordinary wear and tear. The Sellers have no Knowledge of any material defects in the design, structure or building systems of any of the buildings covered by the Real Property Leases. All water, sewer, gas,
electric, telephone, drainage and other utility equipment, facilities and services now used for the operation of the Real Property are adequate to service the use of such property by the Business in accordance with past practice. No part of the
inventory or supplies of the Business, whether of raw materials, work in 

  
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process, packaging, finished goods or other materials or supplies on hand to be used or consumed in the Business is, or at the time of sale or use thereof in the Ordinary Course of Business is
expected to be, in any material amount, unmerchantable, not salable at prevailing prices or usable in the Ordinary Course of Business, defective, physically damaged or obsolete, taking into account any applicable reserves included on the Final
Closing Date Statement. The inventory and supplies of the Business are at levels sufficient for the Business to conduct its business in the Ordinary Course of Business. The Assets include all rights and property necessary to the conduct of the
Business by the Buyer in the manner it is presently conducted. 
 3.21 Compliance with Anticorruption Laws. 

(a) Since April 1, 2007, no FS Tech Entity, nor any officer, director, or employee of the FS Tech Entities, nor any agent or
representative of the FS Tech Entities, acting in such capacity, has directly or indirectly violated or taken any act in furtherance of violating any provision of the Foreign Corrupt Practices Act of 1977 (as amended), the U.K. Bribery Act 2010 or
any other anti-bribery or anti-corruption Laws of any jurisdiction applicable to the Business (collectively, the “Anti-Corruption Laws”), such as by making, offering or promising, directly or indirectly, any contribution, gift,
bribe, rebate, loan, payoff, influence payment, kickback or other payment, or promise of payment, of anything of value, to any Government Official (as defined below) for the purpose of inducing such Government Official to do any act or make any
decision in his or her or its official capacity (including a decision to fail to perform his or her or its official function) or use his or her or its influence with a Governmental Authority in order to affect any act or decision of such
Governmental Authority for the purpose of assisting any Person to obtain or retain any business, or to facilitate the Business in its efforts to transact business or for any other improper purpose (e.g., to obtain a tax rate lower than allowed by
Law). 
 (b) For purposes of this Section 3.21, the term “Government Official” shall mean any:
(i) officer or employee of a Governmental Authority (including any state-owned or state-controlled enterprise) or of a public international organization; (ii) holder of public office, candidate for public office, political party, official
of a political party or member of a royal family; or (iii) Person acting for or on behalf of any Governmental Authority. 

(c) Seller Parent has advised the Buyer that none of the FS Tech Entities’ officers, directors, employees or agents is a Government
Official or consultant to any Government Official, and there is no existing family relationship between any officer, director, employee, member or agent of the FS Tech Entities and any Government Official. 

(d) Without limiting the foregoing, since April 1, 2007, each FS Tech Entity: (i) has maintained its books and records in a
manner that, in reasonable detail, accurately and fairly reflects the transactions and disposition of its assets; (ii) has not established or maintained any material fund or asset that has not been recorded in the books and records of the FS
Tech Entities; and (iii) has maintained a system of internal accounting controls and procedures sufficient to provide reasonable assurances of compliance with the Anti-Corruption Laws. In addition, neither the FS Tech Entities, nor any of the
FS Tech Entities’ directors, officers, agents, employees, former employees or any other Person associated with or acting for or on behalf of the FS Tech Entities has: (x) circumvented the FS Tech Entities’ internal accounting
controls; (y) falsified any of its books, records or accounts; or (z) attempted to coerce or fraudulently influence an accountant in connection with any audit, review or examination of the financial statements of the FS Tech Entities.

 (e) No portion of the Purchase Price will be used to make any payment or provide anything of value to Government Officials in
connection with the Business. 

  
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 3.22 Trade Compliance Matters. Since April 1, 2007, each FS Tech Entity has been
and is in compliance in all material respects with applicable export control and trade and economic sanctions Laws, including but not limited to the U.S. Commerce Department’s Export Administration Regulations, the U.S. State Department’s
International Traffic in Arms Regulations, U.S. Customs regulations, sanctions Laws and regulations maintained by the U.S. Treasury Department’s Office of Foreign Assets Control, Anti-Boycott Laws and regulations, country of origin Laws and
product marking Laws, free trade agreements provisions, and restricted party screening, as well as all applicable export control, sanctions, customs, marking, country of origin, free trade agreement and other trade compliance Laws and regulations of
other jurisdictions. 
 3.23 Conditions Affecting the Sellers. The Sellers do not have any reason to believe that any
loss of any employee, agent, customer or supplier or other advantageous arrangement of the Business will result because of the consummation of the transactions contemplated hereby. 

3.24 Disclosure. No representation or warranty by Seller Parent in this Agreement nor any certificate, schedule, statement,
document or instrument furnished or to be furnished to the Buyer pursuant hereto, or in connection with the negotiation, execution or performance of this Agreement, contains or will contain any untrue statement of a material fact or omits or will
omit to state a material fact required to be stated herein or therein or necessary to make any statement herein or therein not misleading. 
 3.25 No Other Representations. EXCEPT AS SET FORTH IN THIS ARTICLE 3, SELLER PARENT MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO ANY FS TECH ENTITY, THE ASSETS, OR THE BUSINESS,
AND ANY SUCH OTHER REPRESENTATIONS OR WARRANTIES ARE HEREBY EXPRESSLY DISCLAIMED. EXCEPT AS EXPRESSLY SET FORTH HEREIN, THE BUYER IS PURCHASING THE ASSETS AND THE BUSINESS ON AN “AS IS” BASIS. 

ARTICLE 4 
 REPRESENTATIONS AND WARRANTIES OF THE BUYER 
 Buyer Parent hereby
represents and warrants to the Sellers as follows: 
 4.1 Status of Buyer Parent. 

(a) Organization. Buyer Parent is a duly organized corporation, entitled to conduct its business and validly existing in good
standing under the Laws of the state of Delaware. Each Buyer is duly organized, entitled to conduct its business and validly existing in good standing under Laws of the state, province or other jurisdiction of its formation. 

(b) Authorization. 
 (i) Buyer Parent and each Buyer has the right, power and authority to enter into this Agreement and each Other Agreement to which it is a party and to consummate the transactions contemplated by, and
otherwise to comply with and perform its obligations under, this Agreement and such Other Agreements. 

  
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 (ii) The execution and delivery by Buyer Parent and each Buyer of this
Agreement and the Other Agreements to which it is a party, and the consummation by Buyer Parent and each Buyer of the transactions contemplated by, and other compliance with and performance of its obligations under, this Agreement and the Other
Agreements to which it is a party, have been duly authorized by all necessary corporate or limited liability company action on the part of Buyer Parent and each Buyer, are in compliance with its governing documents (including its certificate of
incorporation and bylaws or other comparable governing documents) and applicable Law, and no additional corporate or limited liability action is necessary to authorize the execution and delivery of this Agreement and the Other Agreements by Buyer
Parent and each Buyer. 
 (iii) This Agreement and the Other Agreements to which Buyer Parent and each Buyer is a
party constitute the legal, valid and binding agreements of Buyer Parent and each Buyer enforceable against Buyer Parent and each Buyer in accordance with their respective terms, except to the extent that such enforceability may be limited by the
Equitable Exceptions. 
 (c) Absence of Violations or Conflicts. The execution and delivery by Buyer Parent and each
Buyer of this Agreement and the Other Agreements to which it is a party and the consummation by Buyer Parent and each Buyer of the transactions contemplated by, or other compliance with or performance under, this Agreement and such Other Agreements,
do not and will not with the passage of time or giving of notice or both, constitute a violation of, be in conflict with, constitute a default or require any payment under, permit a termination of, require any consent under, or result in the
creation or imposition of any Lien or other adverse Claim or interest upon any assets or properties of Buyer Parent and each Buyer under (i) any Contract, lease, sublease, license, Permit, indenture, instrument, agreement, commitment,
undertaking or understanding to which Buyer Parent or any Buyer is a party or to which it or any of its assets or properties are subject or bound, (ii) any Order of any Governmental Authority to which Buyer Parent or any Buyer or any of its
assets or properties are subject or bound, (iii) to the Knowledge of the Buyer, any applicable Law, or (iv) any governing documents of Buyer Parent or any Buyer (including its certificate of incorporation and bylaws or other comparable
documents). 
 (d) No Governmental Consents Required. Except as set forth in Schedule 4.1(d) or as may be required
under the Antitrust Laws, no consent, approval, Order or authorization of, or registration, declaration or filing with, any Governmental Authority by or with respect to Buyer Parent or any Buyer is required in connection with its execution or
delivery of this Agreement or the Other Agreements to which it is a party or the consummation of the transactions contemplated by, or other compliance with or performance under, this Agreement or such Other Agreements by Buyer Parent or any Buyer.

 4.2 Brokers and Commissions. No Person has asserted or is entitled to any commission or broker’s or finder’s
fee in connection with the transactions contemplated by this Agreement by reason of any act or omission of Buyer Parent or any Buyer. 

  
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 ARTICLE 5 

COVENANTS OF THE SELLERS 
 5.1 Conduct of Business by the FS Tech Entities. From the date hereof to the Closing Date, except for transactions that have been set forth in Schedule 5.1 or that are expressly approved in
writing by Buyer Parent, each FS Tech Entity shall refrain from, and Seller Parent shall cause each FS Tech Entity to refrain from: 
 (a) incurring any Indebtedness, including any indebtedness for borrowed money or making any loans, advances or capital contributions to, or investments in, any other Person, except for intercompany loans
and advances, loans and advances to Business Employees and other Persons providing services on behalf of the applicable FS Tech Entity in the Ordinary Course of Business, and professional fees and liabilities incurred in connection with the
transactions contemplated hereby; 
 (b) becoming a guarantor with respect to any obligation of any other Person or assume any
obligation of such Person for borrowed money, in each case, outside the Ordinary Course of Business and in excess of $100,000; 

(c) subjecting any Properties of any FS Tech Entity or any other Asset to any Lien or other Claim of any kind, exclusive of Liens arising
as a matter of Law in the Ordinary Course of Business as to which there is no known default and except for Permitted Encumbrances; 
 (d) except for sales of inventory or other Assets in the Ordinary Course of Business consistent with past practice, selling, assigning, transferring, leasing, subleasing, licensing, relinquishing,
surrendering, or otherwise disposing of any material portion of the Assets or a FS Tech Entity; 
 (e) modifying, amending,
altering, failing to perform under or terminating (whether by written or oral agreement, or any manner of action or inaction) any of the Debt Instruments, Real Property Leases, Personal Property Leases, Intellectual Property Licenses, Material
Contracts or Insurance Policies, or entering into any such arrangement which is outside of the Ordinary Course of Business or which involves the payment or receipt by a FS Tech Entity of an amount in excess of $100,000 (excluding sales related
activities which shall be permitted without consent up to the payment or receipt by a FS Tech Entity of an amount in excess of $250,000); 
 (f) waiving, releasing or assigning any material right or Claim under any of the Debt Instruments, Real Property Leases, Personal Property Leases, Intellectual Property Licenses, Material Contracts or
Insurance Policies; 
 (g) issuing, selling, pledging, disposing of or encumbering, or authorizing the issuance, sale, pledge,
disposition or encumbrance of, any shares of capital stock or membership interests of any class or any options, warranties, convertible securities or other rights of any kind to acquire shares of capital stock or membership interests, or any other
ownership interest in a FS Tech Entity; 
 (h) changing any method of accounting or accounting practice used by it with respect
to the Business (including procedures with respect to the accounting for payment of accounts payable and with respect to the accounting for the collection of accounts receivable), except for any change required by GAAP; 

  
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 (i) making or committing to make any capital expenditures with respect to the Business,
except capital expenditures which are less than $20,000 individually, or $100,000 in the aggregate; 
 (j) writing off as
uncollectible any notes or accounts receivable, except write-offs in the Ordinary Course of Business consistent with past practice and charged to applicable reserves; 
 (k) canceling or waiving any rights in any material respect, or paying, discharging, compromising, settling or otherwise waiving, releasing, granting, assigning or licensing any pending or threatened
Proceeding or Claim, in each case, unless (i) there is no finding or admission of any violation of Laws or any violation of the rights of any Person, and (ii) the sole relief provided is monetary damages that are paid in full by Seller
Parent; 
 (l) entering into any lease, sublease, license or other agreement under which any FS Tech Entity has the right to
purchase or lease any real property, or any other Person has the right to purchase or lease any real property from a FS Tech Entity, in each case for an amount in excess of $100,000; 

(m) giving credit or discounts to customers of the Business other than in the Ordinary Course of Business consistent with past practice;

 (n) establishing or increasing the benefits under, or promising to establish, modify or increase the benefits under, any FS
Tech Employee Plan, or otherwise materially increasing the compensation payable to any Business Employee, except in accordance with existing Employee Plans, agreements and policies consistent with past practice, or modify, renew, establish, adopt or
enter into any collective bargaining agreement with any labor union in regard to any Business Employees; 
 (o) entering into
any material commitment or transaction with respect to any Intellectual Property outside of the Ordinary Course of Business; 

(p) entering into any transaction with an Affiliate, except for (i) transactions with a FS Tech Entity or among the FS Tech Entities
in the Ordinary Course of Business consistent with past practice or (ii) transactions between (A) PIPS Technology Inc. or PIPS Technology Limited, on the one hand, and (B) Seller Parent’s Safety and Security System Group or
Environmental Solutions Group, on the other hand, in the Ordinary Course of Business consistent with past practice, which such subsection (ii) transactions shall be subject to the requirements of Section 5.8; 

(q) making, revoking or amending any Tax election, changing any method of Tax accounting or Tax procedure or practice, settling, or
compromising any Tax contest with respect to any of the FS Tech Entities and, if any such action will be binding on the Buyer or its Affiliates after the Closing Date, creating a Lien on, or otherwise impacting the Tax position of the Buyer or its
Affiliates with respect to the Assets; and 
 (r) authorizing, committing or agreeing to take any action that would reasonably
be expected to constitute a breach of any of the foregoing provisions of this Section 5.1. 
 5.2 Affirmative
Covenants Relating to the FS Tech Entities. From the date hereof to the Closing Date, each FS Tech Entity shall, and Seller Parent shall cause each FS Tech Entity to: 
 (a) maintain its property and liability insurance in amounts and with coverage at least as great as the amounts and coverage in effect on the date of this Agreement; 

  
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 (b) maintain its Properties in good repair, order and condition consistent with past
practice, reasonable wear and tear excepted; 
 (c) use commercially reasonable efforts to operate the Business in the Ordinary
Course of Business so as to preserve the present Business operations, organization (including Business Employees) and goodwill of each FS Tech Entity and preserve the present relationships with Persons having business dealings with the FS Tech
Entities (including employees, officers, customers and suppliers); 
 (d) maintain the books, accounts and records of each FS
Tech Entity in the Ordinary Course of Business; 
 (e) comply in all material respects with all applicable Laws relating to the
conduct of the Business; and 
 (f) provide Buyer Parent with prompt written notice of events, occurrences or circumstances
which have (either individually or in the aggregate) a Material Adverse Effect. 
 5.3 Consents and Closing Conditions.

 (a) Generally. The Sellers shall use commercially reasonable efforts to: (i) obtain such consents, approvals,
authorizations and waivers from third parties and to take other actions as may be required in order to fulfill the closing conditions, as set forth in Article 8 which are within their control; provided, however, that it is understood
that such efforts do not require the Sellers to offer or grant financial accommodations to any third party; (ii)(A) as soon as possible, and in any event no later than twenty (20) Business Days after the date of this Agreement, make any initial
filings required under the HSR Act and (B) as promptly as practicable, make any additional filings required by any other applicable Antitrust Law; and (iii) cause the representations and warranties of Seller Parent in Article 3 to
be true and correct on and as of the Closing Date. 
 (b) Antitrust Laws. The Sellers shall consult and cooperate with
the Buyer, and consider in good faith the Buyer’s views, in connection with any analyses, appearances, meetings, presentations, memoranda, briefs, arguments, opinions and proposals made or submitted by or on behalf of any party hereto in
connection with Proceedings under or relating to any Antitrust Law; provided, however, that, with respect to any such analyses, appearances, presentations, memoranda, briefs, arguments, opinions or proposals, none of the Sellers need supply
the Buyer with copies (or in case of oral presentations, a summary) to the extent that any Law requires any Seller to restrict or prohibit access to any such properties or information, but, subject to reasonable assurances of confidentiality and
use, they will supply Buyer’s legal counsel, including its in-house legal antitrust counsel, with such copies. The Sellers will promptly provide the Buyer with all information necessary for the Buyer to submit filings required by any Antitrust
Law, and any information necessary to respond to any supplemental requests for information by any Governmental Authority. The Sellers will notify the Buyer promptly upon the receipt of (i) any comments from any officials of any Governmental
Authority in connection with any filings made under any Antitrust Law and (ii) any request by any officials of any Governmental Authority for amendments or supplements to any filings made pursuant to, or information provided to comply with, any
Antitrust Laws in all material respects. Whenever any event occurs that is required to be set forth in an amendment or supplement to any filing made under an Antitrust Law, the Sellers will promptly inform Buyer Parent of such occurrence and
cooperate in filing with the applicable Governmental Authority such amendment or supplement. Each Seller shall use its reasonable efforts to resolve such objections, if any, as may be asserted by any Governmental Authority with respect to the
transactions contemplated by this Agreement under the Antitrust Laws. Each Seller shall use its reasonable efforts to take such action as 

  
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may be required to cause the expiration or termination of the waiting or notice periods under the HSR Act or other Antitrust Laws with respect to such transactions as promptly as possible after
the execution of this Agreement. Notwithstanding the foregoing or any other provision of this Agreement, nothing in this Section 5.3 shall limit Seller Parent’s right to terminate this Agreement pursuant to Section 11.2
so long as the Sellers have until such date complied in all material respects with its obligations under this Section 5.3. 
 (c) Limitations on Actions. Notwithstanding the foregoing or any other provision of this Agreement, nothing in this Section 5.3 shall require, or be construed to require, Seller Parent
to take or to refrain from taking any action, to agree to any disposition or restriction with respect to any Properties, Assets or operations of any FS Tech Entity, or to cause Seller Parent to do or agree to do any of the foregoing, if any such
action, failure to act, restriction or agreement would have a Material Adverse Effect. 
 5.4 Access to Information.

 (a) During the period from the date of this Agreement to the earlier of the Closing Date or the termination of this Agreement
in accordance with Article 11, Seller Parent shall, and shall cause each FS Tech Entity to, afford the Buyer, its employees and its authorized Representatives reasonable access (but subject to reasonable confidentiality limitations imposed by
Seller Parent consistent with the Confidential Disclosure Agreement (the “Confidentiality Agreement”) dated March 7, 2011 among Federal Signal Corporation and 3M Company) during normal business hours to books, records,
employees, Contracts, Real Property leased by the Business, offices and other facilities of the FS Tech Entities and shall furnish, or cause to be furnished, to the Buyer any financial and operating data and other information that is available with
respect to the Business and Assets, as the Buyer, or its authorized Representatives, may reasonably request. Additionally, in the event that the Neology Lawsuits have not been fully and finally resolved by the Sellers prior to the Closing Date,
Seller Parent shall deliver, or shall arrange for the delivery, subject to a joint defense or other such agreement to be mutually agreed upon by the Buyer Parent and the Seller Parent, to Buyer Parent or its designee of copies of all pleadings and
material correspondence and other documents relevant to the Neology Lawsuits. 
 (b) For the avoidance of doubt, such access
shall include (but shall not be limited to): (i) access to financial information, including financial projections by originating country for Duff & Phelps and a limited number of employees of Buyer as approved by antitrust counsel, as
of the date of this Agreement; (ii) access to perform physical inventory counts at all locations for a reasonable period of time prior to Closing; (iii) access to perform physical observations of all property, plant and equipment for a
reasonable period of time prior to Closing; (iv) access to records and information necessary to value all assumed legal liabilities for a reasonable period of time prior to Closing; and (v) access to records and information related to
human resources and employees (with respect to (v), timing of access to such records and information subject to approval by antitrust counsel). 
 (c) To facilitate Buyer’s access to the information described in clause (b) above, Seller Parent and Buyer Parent shall hold at least five one-week integration and transition planning meetings
related specifically to finance-related matters during the period between the date of this Agreement and Closing. For the avoidance of doubt, Seller Parent and Buyer Parent shall also hold weekly integration and transition planning meetings for
other functions during such period. 
 (d) All information provided or obtained pursuant to clauses (a), (b), and (c) above
shall be held by the Buyer in accordance with and subject to the terms of the Confidentiality Agreement, until the Closing Date. 

  
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 5.5 Non-Solicitation. Except as may be permitted by the following sentence, the
Sellers shall not, and shall cause its Affiliates not to, knowingly, for a period of two years following the Closing Date, solicit or hire for employment or employ any Transferring Employee. Notwithstanding the foregoing, Seller Parent and its
Affiliates shall not be prohibited from conducting generalized solicitations for employees through the use of media advertisements or otherwise. 
 5.6 Confidentiality. Seller Parent, on behalf of itself and its Affiliates, acknowledges that it is in possession of confidential information concerning the Business (the “Confidential
Information”). Seller Parent agrees that if the transactions contemplated by this Agreement are consummated, from and after the Closing, it shall, and it shall cause its representatives and Affiliates to, keep all such Confidential
Information strictly confidential and use such Confidential Information only for the purpose of fulfilling its obligations hereunder. Seller Parent acknowledges and agrees that the Confidential Information is proprietary and confidential in nature
and may be disclosed to its Representatives only to the extent necessary for Seller Parent and such Representatives to fulfill Seller Parent’s obligations hereunder or as required by applicable Law. Notwithstanding the foregoing, Confidential
Information shall not include any information which (i) has become publicly known and made generally available through no wrongful act of the Sellers, (ii) has been rightfully received by a receiving party from a third party who is
authorized to make such disclosure, or (iii) is required to be disclosed by Law (whether by deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar process) after, to the extent permissible, providing
prompt written notice to Buyer Parent of such request so that Buyer Parent may seek an appropriate protective order or other appropriate remedy. 
 5.7 Exclusivity. During the period from the date of this Agreement until the earlier of the Closing Date or the termination of this Agreement in accordance with Article 11, the Sellers will
not, and each Seller will cause its Affiliates not to, directly or indirectly, (a) solicit, initiate, discuss or encourage the submission of any inquiry, contact, proposal or offer from any Person relating to the acquisition of the Business,
the Assets, the capital stock or voting securities of any FS Tech Entity, or all or substantially all of their respective Properties or operations (including any acquisition structured as a merger, consolidation or share exchange),
(b) negotiate, discuss, entertain or approve any offer or indication of interest with respect to such acquisition or sale or undertake any transactions similar to the foregoing types of transactions, or (c) furnish any information with
respect to, or assist or participate in, or facilitate in any other manner, any effort or attempt by any Person to do or seek to do any of the foregoing. Seller Parent will notify Buyer Parent of any such inquiry, contact, proposal, or offer within
twenty-four (24) hours of receipt or awareness thereof. The Sellers will immediately terminate all discussions with any third Persons relating to any proposed acquisition or sale or undertaking of any transactions similar to the transactions
relating to the Business described in this Section 5.7, and will request the return or destruction of all Confidential Information of the Sellers provided to such third Persons. 

5.8 Termination of Intercompany Arrangements. Except as set forth in Schedule 5.8, the Sellers shall, at or prior to the
Closing, terminate or cause to be terminated all payables, receivables, liabilities, Contracts, and other agreements, arrangements and obligations between a FS Tech Entity, on the one hand, and Seller Parent or any Affiliate of Seller Parent (other
than a FS Tech Entity), on the other hand. 
 5.9 Covenant Not to Compete. 

(a) In consideration of and as an inducement to the Buyer to enter into this Agreement and to consummate the transactions contemplated
hereby, for a period of five (5) years from and after the Closing Date, Seller Parent agrees that it will not, and will cause its Affiliates not to, engage, directly or indirectly, own, manage, operate, join, control, or participate in the
ownership, management, operation or control of, or render services to, whether as a partner, stockholder, member, principal, agent, 

  
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consultant, employee, or independent contractor, any business whether in corporate, proprietorship or partnership form or otherwise with respect to any product or service that is the same as or
competitive with the Business (a “Competitive Business”), on a worldwide basis; provided, however, that ownership of less than 5% of the outstanding stock of any publicly traded Person shall not be deemed to be a violation of this
provision. 
 (b) For a period of five years after the Closing Date, Sellers and their respective Affiliates shall not use the
Retained Mark or any trademark or service mark confusingly similar to the Retained Mark to engage, directly or indirectly, in a Competitive Business, including the sales of products, services or other commercial activity, or license the Retained
Mark to third parties for use in connection with a Competitive Business. Sellers further warrant as of the Closing Date there are no licenses of the Retained Mark to third parties for use in a Competitive Business. 

(c) Regardless of any provision of Section 5.9 (a) or (b) to the contrary, nothing in this Section shall prohibit,
restrict or otherwise limit Seller or any of its Affiliates from (i) reselling the products set forth on Exhibit A to the Supply Agreement and the functional substitutes for such products (the “Permitted Products”), whether
manufactured by Buyer or its Affiliates or by third parties, so long as such products are incorporated into and resold only as part of a Permitted Integrated System (as defined below) that was not offered for sale by any FS Tech Entity prior to the
Closing Date; (ii) providing support and repair services for Permitted Integrated Systems that include, as part of such Permitted Integrated Systems, the Permitted Products; or (iii) using the Retained Mark in furtherance of the purposes
of subsections (i) and (ii) hereof. A “Permitted Integrated System” shall mean either (1) a system or solution offered by Federal Signal’s Safety and Security Systems Group (x) that utilizes mobile cameras
together with any of the following: light bars (including mobile emergency and amber light products), communication systems, wireless broadband data networks, wireless transit systems or LTE public safety systems, or (y) that utilizes fixed
cameras, provided that in the case of (y), the Permitted Products integrated into the system or solution comprise less than 66% of the value of such system or solution; or (2) a system or solution offered by Federal Signal’s Environmental
Solutions Group that utilizes ALPR hardware and related software as optional equipment on new vehicles, provided that such ALPR hardware and software are used only in automatic vehicle detection and identification applications. 

(d) If Seller Parent breaches the provisions of Sections 5.5 and/or 5.9 (the “Restrictive Covenants”), the
Buyer shall have the right and remedy without regard to any other available remedy to (i) have the Restrictive Covenants specifically enforced by any court of competent jurisdiction and (ii) have issued an injunction restraining any such
breach without the necessity of proving actual damage. Seller Parent agrees and acknowledges that any breach of the Restrictive Covenants would cause irreparable and material loss and damage to the Buyer, the amount of which cannot be readily
determined and as to which the Buyer will not have an adequate remedy at law or in damages. 
 (e) It is the desire and intent
of the parties that the Restrictive Covenants will be enforced to the fullest extent permissible under the Laws and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, if any Restrictive Covenant or any portion
thereof shall be adjudicated to be invalid or unenforceable, such Restrictive Covenant shall be deemed amended to the extent necessary in order that such provision be valid and enforceable, such amendment to apply only with respect to the operation
of such Restrictive Covenant in the particular jurisdiction in which such adjudication is made. 
 5.10 Further
Assurances. From the date hereof until the earlier of the Closing Date or the termination of this Agreement in accordance with Article 11, the Sellers shall execute such documents and perform such further acts as may be reasonably
required to carry out the provisions hereof and the actions contemplated hereby. The Sellers shall, on or prior to the Closing Date, use commercially 

  
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reasonable efforts to fulfill or obtain the fulfillment of the conditions precedent to the consummation of the transactions contemplated hereby, including the execution and delivery of any
documents, certificates, instruments or other papers that are reasonably required for the consummation of the transactions contemplated hereby. At any time and from time to time following the Closing, as and when requested by Buyer Parent, Seller
Parent shall promptly execute and deliver, or cause to be executed and delivered, all such documents, instruments and certificates, and shall take, or cause to be taken, all such further actions as are reasonably necessary to evidence and effectuate
the transactions contemplated by this Agreement. 
 5.11 Discharge of Business Obligations. From and after the Closing
Date, the Sellers shall pay and discharge in accordance with past practice, all obligations and liabilities incurred prior to the Closing Date in respect of the Business, its operations or the Assets (except for those expressly assumed by the Buyer
hereunder), including without limitation any liabilities or obligations which constitute Retained Liabilities to employees, trade creditors and clients of the Business. 
 5.12 Maintenance of Books and Records. After the Closing Date, the Sellers shall retain the records that are Excluded Assets in accordance with the Sellers’ document retention policy. During
the period during which such records are retained, duly authorized representatives of the Buyer may have reasonable access to such records, during normal business hours and on at least three days’ prior written notice, at the Buyer’s
expense, for any reasonable business purpose specified by the Buyer in such notice. 
 5.13 Payments Received. The
Sellers each agree that after the Closing they will hold and will promptly transfer and deliver to the Buyer, from time to time as and when received by them, any cash, checks with appropriate endorsements (using commercially reasonable efforts not
to convert such checks into cash), or other property that they may receive on or after the Closing which properly belongs to the Buyer, including without limitation any insurance proceeds, and will account to the Buyer for all such receipts. From
and after the Closing, the Buyer shall have the right and authority to endorse without recourse the name of the Sellers on any check or any other evidences of indebtedness received by the Buyer on account of the Business and the Assets transferred
to the Buyer hereunder. 
 5.14 Use of Name. From and after the Closing Date, the Sellers will sign such consents and
take such other action as the Buyer shall reasonably request in order to permit the Buyer to use the marks and the tradenames transferred hereunder as Assets. Following the name changes contemplated by Section 10.1, Seller and its
Affiliates may use the legal name of each such FS Tech Entity to the extent necessary to pay the Retained Liabilities, to prepare Tax Returns and similar reports and to otherwise wind-up and conclude its business for up to twelve (12) months
after the Closing Date. 
 5.15 Software Escrow Agreement. 

(a) Sellers agree that within five (5) Business Days of the signing of this Agreement, Sellers shall place in escrow a copy of the
full and complete source code and documentation of the VESystems Enterprise Software for Toll Collections Backoffice and the IDRIS/DCS Automatic Vehicle Detection & Classification Software, including all current and developmental versions
thereof, and any versions currently in use by an FS Tech Entity customer or which an FS Tech Entity has a present obligation to maintain or support (such source code and documentation, the “Software Escrow Materials”). Such Software
Escrow Materials shall be deposited with Iron Mountain (the “Software Escrow Agent”) pursuant to a software escrow agreement containing customary terms and conditions (“Software Escrow Agreement”), which shall be
entered into by Seller Parent at the time of deposit. 
 (b) The Software Escrow Materials shall be held by the Software Escrow
Agent pursuant to the Software Escrow Agreement and shall be released either (i) to Buyer upon Closing or (ii) to Seller Parent upon termination of this Agreement for any reason, as the case may be. In addition, upon deposit of the
Software Escrow Materials, Sellers shall provide Buyer with customary information requested in Iron Mountain’s standard escrow deposit questionnaire form. 

  
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 (c) Sellers shall update and supplement the Software Escrow Materials as necessary to keep
such materials full and complete, and no less frequently than every two (2) weeks subsequent to the initial deposit thereof and upon Closing. 
 (d) Iron Mountain shall have the right to conduct inspections, audits and tests of the Software Escrow Materials to verify conformance with this Section, from time to time. 

5.16 Transitional Use of Retained Mark. After the Closing Date, Buyer and its Affiliates shall have the right to exhaust any
inventory or works-in-process bearing the Retained Mark, and may continue to use shipping materials, packaging, sales literature, promotional literature, websites or other similar materials that display the Retained Mark for up to twelve
(12) months after the Closing Date. 
 5.17 UK Employee Information. Ten (10) days prior to the Closing Date,
the Seller Parent will deliver to the Buyer Parent an updated Schedule 3.7(a) except that such updated schedule shall include the UK Employees by name. 
 5.18 Referrals. From and after the Closing Date, the Sellers will promptly refer all inquiries with respect to ownership of the Assets or the Business to the Buyer. 

ARTICLE 6 
 COVENANTS OF THE BUYER 
 6.1 Consents and Closing Conditions.

 (a) Generally. The Buyer shall use commercially reasonable efforts to (i) obtain such consents, approvals,
authorizations and waivers from third parties and to take other actions as may be required in order to fulfill the closing conditions, as set forth in Article 9 which are within its control; provided, however, that it is understood
that such efforts do not require the Buyer to offer or grant financial accommodations to any third party; (ii)(A) as soon as possible, and in any event no later than twenty (20) Business Days after the date of this Agreement, make any initial
filings required under the HSR Act and (B) as promptly as practicable, make any additional filings required by any other applicable Antitrust Law and (iii) cause the representations and warranties of the Buyer in Article 4 to
be true and correct on and as of the Closing Date. 
 (b) Antitrust Laws. The Buyer shall consult and cooperate with
Seller Parent, and consider in good faith Seller Parent’s views, in connection with any analyses, appearances, meetings, presentations, memoranda, briefs, arguments, opinions and proposals made or submitted by or on behalf of any party hereto
in connection with Proceedings under or relating to any Antitrust Law; provided, however, that, with respect to any such analyses, appearances, presentations, memoranda, briefs, arguments, opinions or proposals, the Buyer need not supply
Seller Parent with copies (or in case of oral presentations, a summary). The Buyer will promptly provide Seller Parent with all information necessary for Seller Parent to submit filings required by any Antitrust Law, and any information necessary to
respond to any supplemental requests for information by any Governmental Authority. The Buyer shall pay all fees and expenses of filings under any Antitrust Law. The Buyer will notify Seller Parent promptly upon the receipt of (i) any comments
from any officials of any Governmental Authority in connection with any filings made under any Antitrust Law and (ii) any request by any officials of any 

  
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Governmental Authority for amendments or supplements to any filings made pursuant to, or information provided to comply with, any Antitrust Laws in all material respects. Whenever any event
occurs that is required to be set forth in an amendment or supplement to any filing made under an Antitrust Law, the Buyer will promptly inform Seller Parent of such occurrence and cooperate in filing with the applicable Governmental Authority such
amendment or supplement. The Buyer shall use its reasonable efforts to resolve such objections, if any, as may be asserted by any Governmental Authority with respect to the transactions contemplated by this Agreement under the Antitrust Laws. The
Buyer shall use its reasonable efforts to take such action as may be required to cause the expiration or termination of the waiting or notice periods under the HSR Act or other Antitrust Laws with respect to such transactions as promptly as possible
after the execution of this Agreement. Notwithstanding the foregoing or any other provision of this Agreement, nothing in this Section 6.1 shall limit the Buyer’s right to terminate this Agreement pursuant to
Section 11.2 so long as the Buyer has until such date complied in all material respects with its obligations under this Section 6.1. 
 (c) Limitations on Actions. Notwithstanding the foregoing or any other provision of this Agreement, nothing in this Section 6 shall require, or be construed to require, the Buyer to
propose, negotiate, offer to commit or effect any sale, divestiture or disposition of assets or business of the Buyer or Seller Parent or their respective Affiliates, or any restrictions on the conduct of the Business. 

(d) Performance Collateral. Buyer Parent shall use its commercially reasonable efforts to procure from financial institutions and,
where appropriate, applicable third parties, performance collateral in the form of payment bonds, performance bonds, warranty bonds and/or bank letters of credit (collectively “Substitute Performance Collateral”) as shall be
necessary to permit the substitution of Substitute Performance Collateral for similar performance collateral with respect to the performance collateral listed in Schedule 6.1(d) for delivery on the Closing Date, each of which relates to a
Material Contract. Seller has delivered to Buyer before the date hereof a true, correct and complete copy of all performance collateral, including each performance bond, identified on Schedule 6.1(d). 

(e) Release of any Guarantor Obligations. Buyer Parent shall use its commercially reasonable efforts to (i) cause the release
of the guarantor obligations of the Sellers for the guaranties set forth on Schedule 6.1(e) and (ii) provide evidence of such release in a form reasonably satisfactory to Sellers for delivery on the Closing Date. 

6.2 Books and Records. 
 (a) Unless otherwise consented to in writing by Seller Parent, the Buyer shall retain the books and records of the Sellers delivered to the Buyer relating to periods prior to the Closing Date in
accordance with the Buyer’s document retention policy. During the period during which such books and records are retained, duly authorized representatives of Seller Parent shall, upon reasonable notice and for a reasonable purpose, and at
Seller Parent’s expense, have access thereto during normal business hours to examine, inspect and copy such books and records. Additionally, in connection with the Retained Liabilities and as shall be reasonably required in connection with the
defense of any Proceeding or otherwise, the Buyer shall make available to Seller Parent, at Seller Parent’s expense, access to employees as may be reasonably requested by the Seller Parent for a reasonable purpose. 

(b) If, in order to properly prepare documents required to be filed with a Governmental Authority or its financial statements or required
under any applicable Law, it is necessary that either party hereto (or any of their respective Affiliates) or any successors be furnished with additional information relating to the FS Tech Entities and such information is in the possession of the
other party hereto or any of its Affiliates, such party agrees to use its commercially reasonable efforts to furnish such information to such other party as soon as reasonably practicable, at the cost and expense of the party being furnished such
information. 

  
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 6.3 Further Assurances. From the date hereof until the earlier of the Closing Date or
the termination of this Agreement in accordance with Article 11, the Buyer shall execute such documents and perform such further acts as may be reasonably required to carry out the provisions hereof and the actions contemplated hereby. The
Buyer shall, on or prior to the Closing Date, use its commercially reasonable efforts to fulfill or obtain the fulfillment of the conditions precedent to the consummation of the transactions contemplated hereby, including the execution and delivery
of any documents, certificates, instruments or other papers that are reasonably required for the consummation of the transactions contemplated hereby. At any time and from time to time following the Closing, as and when requested by Seller Parent,
the Buyer shall promptly execute and deliver, or cause to be executed and delivered, all such documents, instruments and certificates and shall take, or cause to be taken, all such further actions as are reasonably necessary to evidence and
effectuate the transactions contemplated by this Agreement. 
 6.4 Additional Buyer Entities. As soon as reasonably
practicable following the date hereof, such as would not unreasonably be expected to delay the expected Closing hereunder, Buyer Parent will designate one or more subsidiaries of Buyer Parent that will be deemed a Buyer hereunder. Buyer Parent will
cause each such subsidiary to duly execute and deliver all documents, agreements, and instruments required to be executed and delivered by such subsidiary as a Buyer under this Agreement. Each subsidiary so designated as a Buyer pursuant to this
Section 6.4 will be deemed a Buyer for all purposes hereunder. 
 6.5 Pre-Closing Warranty Claims. Subject to
payment for such claims being apportioned in accordance with Sections 2.3(b) and 2.4(o), Buyer agrees that following the Closing it will administer all recall, design defect or other warranty Claims for any products manufactured or sold or
services performed prior to the Closing Date in good faith and in accordance with the applicable warranty terms. 
 6.6
Laptop and Desktop Computers. At least five Business Days prior to the Closing Date, the Buyer, in its sole discretion, will identify to the Sellers those laptop and desktop computers used or held for use primarily in the Business that shall
be Assets and those laptop and desktop computers used or held for use primarily in the Business that shall be Excluded Assets. For the avoidance of doubt, pursuant to the Transition Services Agreement, Seller shall provide transition services to
Buyer with respect to any such laptop and desktop computers that are identified by Buyer as Excluded Assets. With respect to the laptop and desktop computers which become Assets hereunder, Buyer agrees to remove from such equipment all software
which does not constitute an Asset hereunder within a reasonable period of time after Closing.  
 6.7 Payments
Received. The Buyer agrees that after the Closing it will hold and will promptly transfer and deliver to Seller Parent, from time to time as and when received by it, any cash, checks with appropriate endorsements (using commercially reasonable
efforts not to convert such checks into cash), or other property that it may receive on or after the Closing which properly belongs to any Seller, and will account to Seller Parent for all such receipts. 

  
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 ARTICLE 7 

TAX AND EMPLOYEE MATTERS 
 7.1 Proration of Taxes and Tax Return Filings. 
 (a) Seller Parent shall
timely prepare (or cause to be prepared) on a basis consistent with past practice and Seller Parent shall timely file (or cause to be timely filed) all Tax Returns required by applicable Law covering the Business and the Assets for any Pre-Closing
Tax Period that are required to be filed, regardless of when due, and the Buyer shall timely prepare and file (or cause to be timely prepared and filed) all Tax Returns required by applicable Law covering the Business and the Assets relating to any
Straddle Period. Liability for all real property taxes, personal property taxes, and similar ad valorem obligations levied with respect to the Assets for a taxable period which includes (but does not end on) the Closing Date (a “Straddle
Period” and the “Apportioned Obligations,” respectively) shall be apportioned between the Seller and the Buyer based on the number of days of such taxable period included in the period ending on the Closing Date
(“Pre-Closing Tax Period”) and the number of days of such taxable period included in the period after the Pre-Closing Tax Period (the “Post-Closing Tax Period”), taking into account any applicable accruals or
reserves included on the Final Closing Date Statement. Seller Parent shall be liable for the proportionate amount of such Apportioned Obligations that is attributable to the Pre-Closing Tax Period. The Buyer shall be liable for the proportionate
amount of such Apportioned Obligations that is attributable to the Post-Closing Tax Period. With respect to real property Taxes, such proration shall be calculated based upon the most recent tax statement available at the time of Closing, provided,
however, that the parties agree to re-prorate the real property taxes based on the actual statement for the applicable period within thirty (30) days after such actual tax statement is received by the Buyer, and the appropriate party shall
promptly pay to the other party the amount of any adjustment necessary to reflect the actual proration based upon such actual tax statements. 
 (b) Cooperation on Tax Matters. 
 (i) The Buyer and Seller
Parent agree to furnish, or cause to be furnished to the other upon request, as promptly as practicable, such information (including access to books and records) and assistance relating to the Assets as is reasonably necessary for the filing of any
Tax Return, the preparation for any Tax audit, the prosecution or defense of any Claim or Proceeding relating to any proposed Tax adjustment relating to the Assets. The Buyer and Seller Parent shall keep all such information and documents received
by them confidential unless otherwise required by Law. 
 (ii) The Buyer and Seller Parent agree to retain, or
cause to be retained, all books and records pertinent to the Assets until the applicable period for assessment of Taxes under applicable Law (giving effect to any and all extensions or waivers) has expired and such additional period as necessary for
any administrative or judicial Proceedings relating to any proposed assessment, and to abide with all record retention agreements entered into with any taxing authority. The Buyer and Seller Parent agree to give the other reasonable notice prior to
transferring, discarding, or destroying any such books and records relating to Tax matters and, if so requested, the Buyer and Seller Parent shall allow the requesting party to take possession of such books and records. 

(iii) The Buyer and Seller Parent shall cooperate with each other in the conduct of any audit or other Proceedings for any
Tax purposes relating to the Assets, and the preparation and filing by Seller Parent of all Tax Return for periods ending on and or before the Closing Date. The Buyer and Seller Parent shall each execute and deliver such powers of attorney and other
documents as are reasonably necessary to carry out the intent of this Agreement. 

  
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 (iv) The Buyer and Seller Parent agree to use or cause their respective
Affiliates to use, the alternative procedures set forth in IRS Revenue Procedure 2004-53 with respect to wage reporting. 
 7.2
Value Added Tax. 
 (a) The Purchase Price attributable to the Assets located in the United Kingdom is exclusive of Value
Added Tax (“VAT”) which shall be payable by the Buyer in addition, if and to the extent applicable. 
 (b) If
any VAT is payable on the sale of any of the Assets located in the United Kingdom, under this Agreement and HM Revenue & Customs have so confirmed in writing after disclosure of all material facts, the Seller, as applicable, shall promptly
deliver to the Buyer a proper VAT invoice in respect of the VAT payable. Following receipt of the VAT invoice, Buyer shall pay the applicable Seller the amount of such VAT immediately on (i) recovery of such VAT by the Buyer from HM
Revenue & Customs, or (ii) payment of the VAT by the applicable Seller, whichever is the earlier. 
 (c) Before
sending any letter to HM Revenue & Customs, the applicable Seller hereby agrees to give the Buyer 3 business days to comment upon such letter, and Seller shall incorporate all reasonably requested comments of Buyer thereto. If no comments
of Buyer are received within such 3 day period after receipt of such letter, Buyer shall have been deemed to have accepted such letter in the form provided by Seller. 
 7.3 Employee Matters. 
 (a) From and after the date of this Agreement, the
Sellers shall provide the Buyer with reasonable access, during business hours, to Business Employees, and independent contractors or consultants of the Business, for purposes of the Buyer’s communications therewith concerning potential
employment or retention by the Buyer and the terms and conditions of employment, employee benefits, consulting terms or fees, retention arrangements (if any), and other transitional matters. 

(b) With respect to the UK Employees, Section 7.4 shall apply in full and shall take precedence over this Section 7.3.

 (c) Contemporaneous with the date of this Agreement, Buyer Parent has delivered to Seller Parent a letter identifying those
Business Employees who will not be receiving an offer of continuing employment with Buyer (“Non-Transferring Employee Letter”). Subject to the limitations and conditions set forth in the Non-Transferring Employee Letter, Buyer shall
offer all other Business Employees disclosed to Buyer on Schedule 3.7(a) as of the date of this Agreement continuing employment on an “at will” basis (to the extent applicable under local Law), subject to the terms and conditions of
employment as the Buyer shall choose (other than the UK Employees as to which Section 7.4 shall apply). The UK Employees and those employees who accept employment with the Buyer or an Affiliate of the Buyer shall be referred to as
“Transferring Employees.” Nothing in this Agreement is intended to or shall be interpreted to require the Buyer to continue the employment of any Transferring Employee for any period of time following the Closing Date or to prevent
the Buyer from making future changes in the terms and conditions of employment (including the compensation) of any Transferring Employee, subject to applicable Law. 

  
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 (d) The Sellers shall be solely responsible for any notice, consultation, information or
other obligations required prior to the Closing Date pursuant to any Labor Laws or collective bargaining or similar agreement covering the Business Employees or the Business, and the Buyer will cooperate and provide the Sellers with true and
complete information reasonably requested by the Sellers that is necessary for the Sellers to perform any notification, information or consultation obligations. 
 (e) With the exception of its defined benefit pension plan and retiree medical plans, the Buyer will cause each of its pension and welfare benefit plans to recognize all of the service that the
Transferring Employees completed with the Sellers for purposes of determining their eligibility to participate in, the amount of, and vesting in their benefits under such plans. As of the Closing Date, the Transferring Employees and their eligible
family members shall cease to participate in the Employee Plans except as otherwise required by Law; provided, however, that the Sellers and the Employee Plans will remain responsible to such Transferring Employees and their eligible family members
for all benefits accrued or payable under such plans on or prior to the Closing Date, except as provided in Section 7.3(f) below. Except as provided in Section 7.3(f), no portion of the assets of any Employee Plan will be
transferred to the Buyer, and the Buyer assumes no liability or obligation with respect to the Employee Plans. 
 (f) On or
prior to the Closing Date, Seller Parent will cause the unvested accrued benefits of all Business Employees under its defined benefit pension plan (the “Seller Pension Plan”) and defined contribution pension plan (the
“Seller 401(k) Plan”) to become fully vested. As soon as reasonably practical following the Closing Date, Seller Parent will cause the accounts of each Transferring Employee under the Seller 401(k) Plan to be transferred to the
qualified 401(k) plan of the Buyer (the “Buyer 401(k) Plan”). Such transfer will include a transfer of the corresponding assets from the trust forming part of the Seller 401(k) Plan to the trust forming part of the Buyer 401(k)
Plan, which shall consist of cash and, to the extent permitted by the plan, any promissory notes or other evidences of indebtedness with respect to outstanding plan loans to the Transferring Employees who are participants in such Seller 401(k) Plan.
On the transfer date of such accounts and assets, Seller Parent will deliver to the Buyer all information related to such transfer reasonably requested by Buyer, including the amounts of the account balances of the Transferring Employees and the
details of any outstanding plan loans from the Seller 401(k) Plan to such Transferring Employees. 
 (g) Seller Parent will
ensure that the COBRA continuation coverage requirements are met on and after the Closing Date with respect to all current and former Business Employees (and their eligible family members) who experience a “qualifying event” on or prior to
the Closing Date. 
 (h) Seller Parent shall cause the sale of the Assets described in this Agreement to be treated as a
“Divestiture of a Business Segment” for all purposes under its 2005 Executive Incentive Compensation Plan as applied to all outstanding grants and awards made pursuant thereto to any Transferring Employees, so that any outstanding unvested
stock options or restricted stock units granted to such Transferring Employees will become fully vested and (with respect to stock options) exercisable in accordance with their terms on the Closing Date. 

(i) Seller Parent shall pay to any Business Employee owed a bonus, incentive, payment, or other benefit or acceleration pursuant to a
Sale Bonus Agreement the full amount of any such bonus, incentive, payment, or other benefit or acceleration due under such agreement in accordance with the applicable terms of each such Sale Bonus Agreement. 

(j) On or immediately following the Closing Date, Seller Parent will provide Buyer with a list of the Transferring Employees and the
amount of each Transferring Employee’s unused vacation benefits included in the Current Liabilities set forth in the Preliminary Statement. 

  
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 7.4 UK Employees. 

(a) Operation of TUPE. The parties hereto intend and acknowledge that the transfer of the Business and Assets located in England shall
constitute a transfer to which TUPE applies, and agree that, as a consequence, the contracts of employment made between the current employer and the UK Employees (except insofar as such contracts relate to benefits for old age, invalidity or
survivors under any occupational pension scheme) shall have effect from and after the Closing Date as if originally made between the Buyer and the UK Employees. 
 (b) UK Employee Warranties. 
 (i) The Buyer irrevocably and
unconditionally waives all rights it has pursuant to Regulations 11 and 12 of TUPE and agrees that Regulations 11 and 12 of TUPE shall not apply in respect of the sale of the Business pursuant to the terms of this Agreement. The Buyer further
confirms the terms of this Agreement constitute the whole of the parties’ Agreement in relation to sale of the Business and any liabilities arising in connection with the UK Employees or Regulations 11 and 12 of TUPE. The Buyer confirms that it
has specifically considered the provisions of Regulation 12(4)(a) and (b) and acknowledges that no compensation over and above the terms of this Agreement would be just and equitable pursuant to Regulation 12 of TUPE. 

(ii) The Seller Parent shall notify the Buyer of any material change to the UK Employee information included as part of
Schedule 3.7(a) as soon as is reasonably practicable. 
 (iii) The Seller Parent warrants, except as is
disclosed on Schedule 7.4(b) hereof, that: 
  

	 	(A)	The UK Employee information in Schedule 3.7(a) shall be complete and accurate as of the date hereof and as of the Closing Date; 

 

	 	(B)	none of the Sellers who employ any of the UK Employees is in material breach of the contract of employment of any of UK Employee nor, to the Knowledge of Sellers, is
any UK Employee in material breach of his or her contract of employment with any such Seller; 

  

	 	(C)	neither it nor any of the other Sellers has given or received a notice regarding the termination of employment of any UK Employee nor are any of the UK Employees the
subject of any material disciplinary action or grievance procedure; and 

  

	 	(D)	no Seller is engaged in relation to any UK Employee in any dispute, claim or legal proceedings, arising under contract or common law or arising out of or relating to
any statute including the provisions of TUPE nor any claim or allegation of unlawful discrimination. 

 (iv) The Seller Parent agrees that during the period from the date hereof through the Closing Date: 

  
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	 	(A)	the Seller Parent shall enable and assist the Buyer and its agents and representatives to communicate with and meet the UK Employees and their trade union or other
employee representatives as is required by applicable law; 

  

	 	(B)	none of the Sellers who employs any of the UK Employees shall, without the prior written consent of the Buyer Parent: 

(1) amend or vary (or purport or promise to amend or vary) the terms and conditions of employment or engagement (including, for the
avoidance of doubt, pay and job description) of any UK Employee (other than where such amendment or variation has previously been agreed between the applicable Seller and the UK Employee in the Ordinary Course of Business, and where any such
amendment or variation is not in any way related to the transfer of Assets to a Buyer); 
 (2) terminate or give notice to
terminate the employment or engagement of any UK Employees (other than in circumstances in which the termination is for reasons of misconduct or lack of capability or otherwise in Ordinary Course of Business); or 

(3) employ or assign any person to a Seller who would or might as a consequence of such employment or assignment become a UK Employee,
and transfer such person to Buyer in connection with the transactions contemplated hereby. 
 (c) Information and
Consultation. 
 (i) Buyer shall comply with its obligations under Regulation 13 of TUPE during the period
prior to the Closing Date. 
 (ii) The Seller Parent shall cause each of the Sellers to comply with their
obligations under Regulations 13 and 14 of TUPE during the period prior to the Closing Date, except where a Seller is unable to do so as a result of the failure of a Buyer to comply with its duties under Regulation 13 of TUPE. 

(d) Indemnities. 
 (i) The Seller Parent shall indemnify the Buyer against all Losses incurred by a Buyer in connection with or as a result of: 

 

	 	(A)	Any claim or demand by any UK Employee or former UK Employee (whether in contract, tort, under statute, pursuant to European law or otherwise) including any claim for
unfair dismissal, wrongful dismissal, a redundancy payment, breach of contract, unlawful deduction from wages, discrimination on the grounds of sex, race, disability, age, sexual orientation, religion or religious belief, personal injury, a
protective award or a claim or demand of any other nature, in each case arising directly or indirectly from any act, fault or omission of the employer in respect of any UK Employee or former UK Employee, or any claim relating to the period on and
before the Closing Date; 

  
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	 	(B)	any failure by a Seller to comply with its obligations under Regulations 13 and 14 of TUPE, or any award of compensation under Regulation 15 of TUPE, except where such
failure arises from the failure of a Buyer to comply with its duties under Regulation 13 of TUPE; 

  

	 	(C)	any claim (including any individual employee entitlement under or consequent on such a claim) by any trade union or other body or person representing the UK Employees
(or other employees of a Seller) arising from or connected with any failure by a Seller to comply with any legal obligation to such trade union, body or person; and 

 

	 	(D)	any claim by any person employed or engaged by the Sellers (other than a UK Employee) in respect of which a Buyer incurs or is alleged to incur responsibility or
liability for acts or omissions of the Sellers as a result of the operation of TUPE. 

 (ii) If in
connection with the transfer of Assets under this Agreement, it is found or alleged that the employment of any person employed or engaged by the Sellers other than the UK Employees has transferred to a Buyer pursuant to TUPE: 

 

	 	(A)	Buyer may by 4 pm (London time) on the fifteenth (15th) working day following but excluding the day upon which it becomes aware of that allegation or finding,
dismiss the employee with immediate effect; and 

  

	 	(B)	the Seller Parent shall indemnify the Buyer against all Losses which the Buyer may suffer or incur in respect of that dismissal and the employment of that person up to
the date of the dismissal. 

 (iii) Buyer shall indemnify the Sellers against all Losses incurred
by Sellers in connection with or as a result of: 
  

	 	(A)	any claim or demand by any UK Employee (whether in contract, tort, under statute, pursuant to European law or otherwise) including any claim for unfair dismissal,
wrongful dismissal, a redundancy payment, breach of contract, unlawful deduction from wages, discrimination on the grounds of sex, race, disability, age, sexual orientation, religion or religious belief, a protective award or a claim or demand of
any other nature, in each case arising directly or indirectly from any act, fault or omission of a Buyer, as the case may be, in respect of any UK Employee on or after the Closing Date; 

 

	 	(B)	any failure by a Buyer to comply with its obligations under Regulation 13 of TUPE; and 

  
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	 	(C)	any claim or demand by any UK Employee arising out of any change or proposed change in the terms and conditions of employment or working conditions of that person on or
after their transfer to a Buyer on the Closing Date, where that UK Employee would have been a transferring UK Employee but for his resignation or decision to treat his employment as terminated under Regulation 4(9) of TUPE on or before the Closing
Date as a result of any such changes. 

 7.5 Cooperation and Records Retention. From time to time, Seller
Parent, each FS Tech Entity and the Buyer shall provide, and shall cause their respective accountants and other representatives to provide, to each other on a timely basis, the information that they or their accountants or other representatives have
within their control and that may be reasonably necessary in connection with the preparation of any Tax Return or the examination by any taxing authority or other administrative or judicial Proceeding relating to any Tax Return. Seller Parent, each
FS Tech Entity and the Buyer shall retain or cause to be retained, until the applicable statutes of limitations (including any extensions and carryovers) have expired, copies of all Tax Returns for all Tax periods beginning before the Closing Date,
together with supporting work schedules and other records or information that may be relevant to such Tax Returns. 

ARTICLE 8 
 BUYER’S CONDITIONS TO CLOSING 
 The obligations of the Buyer to
consummate the transactions contemplated by this Agreement shall be subject to the fulfillment to the Buyer’s reasonable satisfaction or the Buyer’s waiver, at or prior to the Closing, of each of the following conditions: 

8.1 Representations and Warranties. The representations and warranties of Seller Parent herein contained in
(a) Section 3.1 shall be true and correct in all respects (other than any immaterial failures to be true and correct) and (b) Article 3 (other than Section 3.1) shall be true and correct in all material
respects, in each case as of the Closing Date with the same effect as though made at and as of such date (except that those representations and warranties that address matters only as of a specified date, which shall be true and correct in all
respects as of that specified date). 
 8.2 Performance of Covenants. Seller Parent shall have performed, and shall have
caused each FS Tech Entity to perform, in all material respects all covenants and obligations and complied with, and caused each FS Tech Entity to comply with, all conditions required by this Agreement to be performed or complied with by it on or
prior to the Closing Date. 
 8.3 Consents. The Sellers shall have secured those Orders, consents, approvals and
clearances listed on Schedule 8.3 to be obtained by the Sellers, in form and substance reasonably satisfactory to the Buyer, and the results set forth on Schedule 8.3 shall have been obtained. 

8.4 No Litigation. There shall not be any litigation or Proceeding pending or threatened (including, without limitation, any
litigation or Proceeding arising under any Antitrust Law) to restrain or invalidate the transactions contemplated by this Agreement. 
 8.5 No Orders. No Orders enjoining or preventing the consummation of the transactions contemplated by this Agreement shall be in effect. 

  
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 8.6 Antitrust Laws. Any applicable waiting periods, together with any extensions
thereof, under the HSR Act or any other Antitrust Law shall have expired or been terminated, and any necessary approvals or clearances under any other Antitrust Law shall have been obtained. 

8.7 Release of any Guarantor Obligations. The Sellers shall (a) have caused the release of any guarantor obligations of the
FS Tech Entities or Assets pursuant to the Financing Agreement, dated as of February 22, 2012, among Federal Signal Corporation, certain subsidiaries of Federal Signal Corporation (as guarantors), various lenders from time to time party
thereto, and TPG Specialty Lending, Inc. (as administrative agent, collateral agent and sole lead arranger) and any ancillary agreements related thereto and pursuant to the Credit Agreement dated as of February 22, 2012, by and among Federal
Signal Corporation (as borrower), various lenders, General Electric Capital Corporation (as a co-collateral agent), and Wells Fargo Capital Finance, LLC (as administrative agent and co-collateral agent) and any ancillary agreements thereto, and
(b) have provided evidence of such release in a form reasonably satisfactory to the Buyer. 
 8.8 Lien Releases.
Except with respect to the UCC-1 filings listed on Schedule 1.1B and set forth in the column titled “Continue Post Closing”, the Sellers shall have caused the termination or subordination of all UCC-1 filings, security agreements,
or registrations pledging any interest in the Assets, or any other encumbrances (including any security interest in any Intellectual Property and any security interest filed pursuant to (a) the Financing Agreement, dated as of February 22,
2012, among Federal Signal Corporation, certain subsidiaries of Federal Signal Corporation (as guarantors), various lenders from time to time party thereto, and TPG Specialty Lending, Inc. (as administrative agent, collateral agent and sole lead
arranger) and any ancillary agreements related thereto, and (b) the Credit Agreement dated as of February 22, 2012, by and among Federal Signal Corporation (as borrower), various lenders, General Electric Capital Corporation (as a
co-collateral agent) other than Permitted Encumbrances, and Wells Fargo Capital Finance, LLC (as administrative agent and co-collateral agent)) and any ancillary agreements related thereto and shall have provided evidence of such terminations in a
form satisfactory to the Buyer.  
 8.9 Closing Documents. The Sellers shall have delivered all documents required
to be delivered by them at Closing pursuant to Section 10.1 of this Agreement, in each case in form and substance reasonably satisfactory to the Buyer. 

  
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 ARTICLE 9 

THE SELLERS’ CONDITIONS TO CLOSING 
 The respective obligations of the Sellers to consummate the transactions contemplated by this Agreement shall be subject to the fulfillment to their reasonable satisfaction or waiver, at or prior to the
Closing, of the following conditions: 
 9.1 Representations and Warranties. The representations and warranties of the
Buyer herein contained in (a) Section 4.1 shall be true and correct in all respects (other than any immaterial failures to be true and correct) and (b) Article 4 shall be true and correct in all material respects, in
each case on and as of the Closing Date with the same effect as though made at and as of such date (except that those representations and warranties that address matters only as of a specified date, which shall be true and correct in all respects as
of that specified date). 
 9.2 Performance of Covenants. The Buyer shall have performed in all material respects all
covenants and obligations and complied with all conditions required by this Agreement to be performed or complied with by it on or prior to the Closing Date. 
 9.3 Consents. The Buyer shall have secured those Orders, consents, approvals and clearances listed in Schedule 9.3 to be obtained by it, in form and substance reasonably satisfactory to
Seller Parent. 
 9.4 No Litigation. There shall not be any litigation or Proceeding pending or threatened (including,
without limitation, any litigation or Proceeding arising under any Antitrust Laws) to restrain or invalidate the transactions contemplated by this Agreement. 
 9.5 No Orders. No Order enjoining or preventing the consummation of the transactions contemplated by this Agreement shall be in effect. 

9.6 Antitrust Laws. Any applicable waiting periods, together with any extensions thereof, under the HSR Act or any other Antitrust
Law shall have expired or been terminated, and any necessary approvals or clearances under any other Antitrust Law shall have been obtained. 

  
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 9.7 Closing Documents. The Buyer shall have delivered all documents required to be
delivered by it at Closing pursuant to Section 10.2 of this Agreement, in each case in form and substance reasonably satisfactory to Seller Parent. 
 ARTICLE 10 
 ITEMS TO BE DELIVERED AT CLOSING

 10.1 Items to be Delivered by the Sellers. At the Closing, the Sellers shall deliver to the Buyer the Assets,
including by taking the following actions: 
 (a) Deliver to the Buyer an officer’s certificate on behalf of each Seller in
a form reasonably satisfactory to the Buyer as to: (i) resolutions (or other instruments as applicable) embodying all corporate or limited liability company actions taken by and on behalf of such Seller, as appropriate, to authorize the
execution, delivery and performance of this Agreement and the Other Agreements by such Seller; and (ii) the incumbency of each officer signing this Agreement, the Other Agreements or any other agreement, document or instrument executed in
connection with this Agreement or the transactions contemplated by this Agreement on behalf of such Seller; 
 (b) Deliver to
the Buyer a certificate of Seller Parent, dated as of the Closing Date and executed by an authorized representative of Seller Parent, to the effect that each of the conditions specified in Section 8.1 and Section 8.2 are
satisfied in all respects; 
 (c) To the extent available under applicable Law, deliver to the Buyer a certificate of good
standing of each Seller dated as of a date within thirty (30) days of the Closing Date and issued by the Secretary of State or other appropriate Governmental Authority of the state in which such Seller was incorporated or formed; 

(d) Deliver to the Buyer those Orders, consents, approvals, results and clearances set forth on Schedule 8.3 and described in
Section 8.3; 
 (e) Deliver to the Buyer one or more bills of sale, substantially in the form of Exhibit G
hereto, conveying title to all of such Seller’s Personal Property included in the Assets; 
 (f) Deliver to the Buyer an
assignment and assumption agreement in the form of Exhibit H hereto (the “Assignment and Assumption Agreement”), duly executed by the Sellers; 
 (g) Deliver to the Buyer the Escrow Agreement duly executed by Seller Parent; 

(h) Deliver to the Buyer the Transition Services Agreement duly executed by Seller Parent; 

(i) Deliver to the Buyer the Supply Agreement duly executed by Seller Parent; 

(j) Deliver to the Buyer the Product Processing Agreement duly executed by Seller Parent; 

  
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 (k) Deliver to the Buyer the Other Agreements duly executed by each appropriate Seller;

 (l) Deliver to the Buyer the Preliminary Statement duly executed by Seller Parent; 

(m) Deliver to the Buyer assignment documents for each of the patents, trademarks and other Intellectual Property which are part of the
Assets, duly executed by each appropriate Seller; 
 (n) Deliver to the Buyer all such executed documents as may be required to
change each FS Tech Entity’s name on that date to another name bearing no similarity to the current FS Tech Entity name as identified on Schedule 1, including but not limited to a name change amendment with the appropriate state or
government office and an appropriate name change notice for each state or country where the FS Tech Entity is qualified to do business; 
 (o) Deliver to the Buyer any and all documents, instruments and certificates as the Buyer reasonably deems necessary to consummate the transactions contemplated by this Agreement as the Buyer reasonably
requests (including documents evidencing the release of any guarantor obligations required pursuant to Section 8.7 of this Agreement and the release of Liens required pursuant to Section 8.8 of this Agreement); and

 (p) Deliver to the Buyer such other good and sufficient instruments of transfer as the Buyer reasonably deems necessary and
appropriate to vest in the Buyer all right, title and interest in, to and under the Assets; 
 and simultaneously with such delivery, the
Sellers shall take such steps as are required to put the Buyer in actual possession and operating control of the Assets. 
 10.2
Items to be Delivered by the Buyer. At the Closing, the Buyer shall: 
 (a) Deliver to Seller Parent a certificate of the
Buyer, dated as of the Closing Date and executed by an authorized representative of Buyer Parent, to the effect that each of the conditions specified in Section 9.1 and Section 9.2 are satisfied in all respects; 

(b) Deliver to Seller Parent the Assignment and Assumption Agreement duly executed by the Buyer; 

(c) Deliver to Seller Parent the Escrow Agreement duly executed by Buyer Parent; 

(d) Deliver to Seller Parent the Transition Services Agreement duly executed by Buyer Parent; 

(e) Deliver to Seller Parent the Supply Agreement duly executed by Buyer Parent; 

(f) Deliver to Seller Parent the Product Processing Agreement duly executed by Buyer Parent; 

(g) Deliver to Seller Parent the Other Agreements duly executed by the Buyer; 

(h) Deliver to Seller Parent those Orders, consents, approvals and clearances set forth on Schedule 9.3; 

  
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 (i) Deliver in immediately available funds the Estimated Purchase Price pursuant to the
funds flow memorandum as contemplated by Section 2.6 of this Agreement; 
 (j) Deliver to the Sellers or the
applicable third party the Substitute Performance Collateral listed on Schedule 6.1(d) hereof; 
 (k) Deliver to the
Sellers evidence of the release of the guarantor obligations listed on Schedule 6.1(e) hereof; and 
 (l) Deliver to
Seller Parent any and all documents, instruments and certificates as Seller Parent reasonably deems necessary to consummate the transactions contemplated by this Agreement as Seller Parent reasonably requests. 

10.3 Local Actions. 
 (a) Buyer Parent shall, either directly or through one or more of its Affiliates, take all actions required of it (consistent with this Agreement) and enter into all agreements and instruments (in form
reasonably satisfactory to Seller Parent) in each applicable jurisdiction necessary to effect the transfer of the Assets and to assume the Assumed Liabilities and to otherwise comply with its obligations in this Agreement. 

(b) Each Seller shall take all actions required of it (consistent with this Agreement) and enter into all agreements and instruments (in
form reasonably satisfactory to the Buyer) in each applicable jurisdiction necessary to effect the transfer of the Assets and the Assumed Liabilities and to otherwise comply with its obligations in this Agreement. 

10.4 Third Party Consents. To the extent that any Seller’s rights under any agreement, contract, commitment, Lease, Permit or
other Asset to be assigned to the Buyer hereunder may not be assigned without the consent of another Person which has not been obtained prior to or as of Closing, this Agreement shall not constitute an agreement to assign the same if an attempted
assignment would constitute a breach thereof or be unlawful, and the Seller Parent agrees to use commercially reasonable efforts to obtain any such required consent(s) as promptly as possible after Closing, provided, however, that it is
understood that such efforts do not require the Sellers to offer or grant financial accommodations to any third party. If any such consent shall not be obtained or if any attempted assignment would be ineffective or would impair the Buyer’s
rights under the Asset in question so that the Buyer would not in effect acquire the benefit of all such rights, the Seller Parent, to the maximum extent permitted by Law and the Asset, shall act after the Closing as the Buyer’s agent in order
to obtain for it the benefits thereunder and shall cooperate, to the maximum extent permitted by Law and the Asset, with the Buyer in any other reasonable arrangement designed to provide such benefits to the Buyer. 

ARTICLE 11 
 TERMINATION 
 11.1 Termination by Mutual Consent. This
Agreement may be terminated and the transactions contemplated herein may be abandoned at any time prior to the Closing, by the mutual written consent of Seller Parent and Buyer Parent. 

11.2 Termination by either Buyer Parent or Seller Parent. This Agreement may be terminated and the transactions contemplated
herein may be abandoned at any time prior to the Closing by Buyer Parent or Seller Parent if (a) the Closing shall not have occurred prior to December 31, 2012 (“Outside  

  
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Closing Date”), provided, however, that the right to terminate this Agreement under this Section 11.2(a) shall not be available to any party whose failure to
fulfill any obligation under this Agreement shall have been the cause of, or shall have resulted in, the failure of the Closing to occur prior to the Outside Closing Date, or (b) any court of competent jurisdiction or other Governmental
Authority having jurisdiction over Seller Parent, Buyer Parent, the FS Tech Entities or the Business has issued an Order or taken any other final action restraining, enjoining, or otherwise prohibiting or materially restricting the consummation of
the transactions contemplated in this Agreement, and such Order or other action shall have become final and nonappealable. 

11.3 Termination by Buyer Parent. This Agreement may be terminated and the transactions contemplated herein may be abandoned at
any time prior to the Closing by Buyer Parent if (a) any Seller shall have breached any of its representations or warranties or if Seller Parent or any FS Tech Entity shall have failed to perform in any material respect any of its covenants or
agreements contained in this Agreement which breach or failure is not curable or, if curable, is not cured within twenty (20) Business Days after the receipt of written notice by Buyer Parent to Seller Parent of such breach or failure; or
(b) any condition in Article 8 becomes incapable of fulfillment at Closing, provided that Buyer Parent has not waived such condition. 
 11.4 Termination by Seller Parent. This Agreement may be terminated and the transactions contemplated herein may be abandoned at any time prior to the Closing by Seller Parent if (a) the Buyer
shall have breached any of its representations or warranties or failed to perform in any material respect any of its covenants or agreements contained in this Agreement which breach or failure is not curable or, if curable, is not cured within
twenty (20) Business Days after the receipt of written notice by Seller Parent to Buyer Parent of such breach or failure; or (b) any condition in Article 9 becomes incapable of fulfillment at Closing, provided that Seller Parent has
not waived such condition. 
 11.5 Effect of Termination and Abandonment. In the event of the termination of this
Agreement pursuant to any of the provisions of this Article 11, none of the Sellers nor the Buyer (nor any of their respective directors and officers) shall have any liability or further obligation to the other party to this Agreement,
except as is contemplated by Section 13.19 and except further that nothing herein will relieve any party from liability for breach of any representation or warranty or any failure to perform any covenant and agreement. The terminating
party’s rights to pursue all legal remedies due to such breach or failure to perform shall survive the termination of this Agreement unimpaired. 
 ARTICLE 12 
 SURVIVAL; INDEMNIFICATION 

12.1 Survival. All representations and warranties in this Agreement shall survive the Closing Date for a period of eighteen
(18) months thereafter, except that (i) the representations and warranties of Section 3.3 (“Taxes”) and Section 3.21 (“Compliance with Anticorruption Laws”) shall survive the Closing until
expiration of the applicable statutes of limitations; and (ii) the representations and warranties of Section 3.1 (a), (b), (c) and (f) (“Status of the Sellers”) and Section 3.12 (“Brokers
and Commission”) shall survive indefinitely. The representations and warranties in Sections 3.1 (a), (b), (c) and (f), 3.3 (“Taxes”), 3.12 (“Brokers and Commission”) and 3.21 (“Compliance with
Anticorruption Laws”) are collectively referred to herein as the “Fundamental Representations”. Notwithstanding any provision in this Article 12 to the contrary, neither Seller Parent nor the Buyer shall be liable for
breach of any representation or warranty given by such party unless written notice of entitlement to make a Claim with respect to such Losses is given by such party on or prior to the expiration of the survival period of the particular
representation, warranty, covenant or obligation as provided in this Section 12.1. All covenants contained in this Agreement shall survive until fully discharged or until expiration of the applicable statutes of limitations, whichever is
later. 

  
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 12.2 Indemnification by Seller Parent. 

(a) Subject to the applicable limitations set forth herein, Seller Parent will indemnify, hold harmless, defend and bear all reasonable
costs of defending the Buyer and its Affiliates, and their respective directors, officers, employees, stockholders, attorneys, accountants and agents (collectively, “Buyer Indemnified Parties”) from and against: 

(i) any and all damage, loss, liability, deficiency, cost and expense (including any reasonable attorney and accountant
fees, legal costs and expenses) from any Proceeding, demand, assessment, settlement or judgment to or against any Buyer Indemnified Party (collectively, “Buyer’s Loss”) as a result of, arising out of or in connection with:

  

	 	(A)	any and all liabilities and obligations of the Sellers of any nature whatsoever (including the Retained Liabilities ), except for the Assumed Liabilities;

  

	 	(B)	any and all actions, suits, claims, or legal, administrative, arbitration, governmental or other proceedings or investigations against any Buyer Indemnified Party that
relate to the Sellers or the Business which result from or arise out of any action or inaction prior to the Closing Date of the Sellers or any director, officer, employee, agent, representative or subcontractor of any Seller, including any relating
to the pre-closing infringement of third party intellectual property (other than those relating to the Neology Lawsuits), except for the Assumed Liabilities; 

 

	 	(C)	any breach by Seller Parent of any of the representations or warranties contained in Article 3; 

 

	 	(D)	any breach or nonperformance by Seller Parent or any FS Tech Entity of any of its respective covenants or agreements contained in this Agreement;

  

	 	(E)	Sellers’ noncompliance with any bulk sales laws and any other similar laws in any applicable jurisdiction; 

 

	 	(F)	all liabilities and obligations of the Buyer arising from events occurring after the Closing Date relating to the Neology Lawsuits or any lawsuit by Neology against the
Buyer relating to the activities of the Business prior to the Closing Date (or any lawsuit by any Affiliate or successor to any Claims of Neology against the Buyer); and 

 

	 	(G)	all Taxes for which Seller Parent is liable under Sections 7.1 and 13.15 for Pre-Closing Tax Periods; and 

(ii) any and all Claims or Proceedings incident to any of the foregoing or to the enforcement of this
Section 12.2(a). 

  
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 (b) Seller Parent shall not have any obligation to indemnify Buyer Indemnified Parties with
respect to Section 12.2(a)(i)(C): (i) until the Buyer Indemnified Parties have suffered Buyer’s Losses in excess of Eight Hundred Twenty Five Thousand Dollars ($825,000) (the “Seller’s Floor”), in which
case the Buyer Indemnified Parties shall be entitled to recover Losses without regard to the Seller’s Floor, including the first dollar of Buyer’s Loss; or (ii) to the extent the Buyer’s Losses exceeds Twelve Million Dollars
($12,000,000) (the “Seller’s Cap”) (after which point Seller Parent will have no obligation to indemnify the Buyer Indemnified Parties from and against further Buyer’s Loss). Notwithstanding the foregoing, neither the
Seller’s Floor nor the Seller’s Cap shall apply with respect to (A) a breach of any Fundamental Representation, or (B) fraud or intentional misrepresentation. For purposes of calculating whether the Seller’s Floor has been
exceeded, the representations and warranties of the Seller Parent shall be deemed not qualified by any references therein to materiality generally or to whether or not any breach results or may result in a Material Adverse Effect. 

(c) Notwithstanding anything to the contrary set forth in this Agreement: 

(i) a Buyer Indemnified Party shall be entitled to make a Claim for any contingent liability, within the time limitations
set forth in Section 12.1, and to obtain indemnification from the Seller Parent as a result of such Claim, even if the liability becomes an actual liability, due and payable after the occurrence of the time limitations; and 

(ii) the indemnification provisions set forth in Section 7.4 shall apply in relation to Losses arising with
respect to the UK Employees (as and to the extent set forth therein). The indemnification provisions and Buyer’s recovery rights as set forth in Section 7.4 shall not be subject to the Seller’s Floor, the Seller’s Cap or
any other limiting provisions of this Section 12. Buyer shall not make double recovery in respect of any Loss suffered by any Buyer Indemnified Party in relation to any matter which is the subject of both Section 7.4 and this
Section 12.2, and the provisions of Section 7.4 shall control in the event of any conflict. 
 12.3
Indemnification by the Buyer. 
 (a) Subject to the limitations set forth herein, the Buyer will indemnify, hold harmless,
defend and bear all reasonable costs of defending Seller Parent and its Affiliates (collectively, “Seller Indemnified Parties”) from and against: 

(i) any and all damage, loss, liability, deficiency, cost and expense (including any reasonable attorney and accountant
fees, legal costs and expenses) from any Proceeding, demand, assessment, settlement or judgment to or against any Seller Indemnified Party (collectively, “Seller’s Loss”) as a result of, arising out of or in connection with:

  

	 	(A)	the Assumed Liabilities; 

  

	 	(B)	any breach by Buyer Parent of any of the representations or warranties contained in Article 4; 

 

	 	(C)	any breach or nonperformance by the Buyer of any of its covenants or agreements contained in this Agreement; and 

 

	 	(D)	all Taxes for which the Buyer is liable under Sections 7.1 and 13.15; and 

  
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 (ii) any and all Claims or Proceedings incident to any of the foregoing or
to the enforcement of this Section 12.3. 
 (b) Notwithstanding the foregoing, the Buyer shall not have any
obligation to indemnify Seller Indemnified Parties with respect to Section 12.3(a)(i)(B): (i) until the Seller Indemnified Parties have suffered Seller’s Losses in excess of Eight Hundred Twenty Five Thousand Dollars ($825,000)
(the “Buyer’s Floor”), in which case the Seller Indemnified Parties shall be entitled to recover Losses without regard to the Buyer’s Floor, including the first dollar of Seller’s Loss; or (ii) to the extent the
Seller’s Losses exceeds Twelve Million Dollars ($12,000,000) (the “Buyer’s Cap”), after which point the Buyer will have no obligation to indemnify Seller Indemnified Parties from and against further Seller’s Losses.
Notwithstanding the foregoing, neither the Buyer’s Floor nor the Buyer’s Cap shall apply with respect to in the case of fraud or intentional misrepresentation. 
 (c) Notwithstanding anything to the contrary set forth in this Agreement, the indemnification provisions set forth in Section 7.4 shall apply in relation to Losses arising with respect to the
UK Employees (as and to the extent set forth therein). Seller shall not make double recovery in respect of any Loss suffered by any Seller Indemnified Party in relation to any matter which is the subject of both Section 7.4 and this
Section 12.3  
 12.4 Notice of Claims. 

(a) Third Party Claims. 
 (i) If any third party shall notify the Buyer or Seller Parent (the “Indemnified Party”) with respect to any matter (a “Third Party Claim”) which may give rise to a Claim
for indemnification against the other party (the “Indemnifying Party”) under this Article 12, then the Indemnified Party shall promptly notify the Indemnifying Party thereof in writing; provided, however, that the
failure to give such notification shall not affect the indemnification provided hereunder except to the extent the Indemnifying Party shall have been actually prejudiced as a result of such failure. 

(ii) The Indemnifying Party will have the right at any time to assume and thereafter conduct the defense of the Third
Party Claim with counsel of its choice and which such counsel shall be satisfactory to the Indemnified Party; provided, however, that the Indemnifying Party will not enter into any settlement with respect to the Third Party Claim without the
prior written consent of the Indemnified Party unless (A) the judgment or proposed settlement releases the Indemnified Party completely in connection with such Third Party Claim; (B) there is no finding or admission of any violation of
Laws or any violation of the rights of any Person; and (C) the sole relief provided is monetary damages that are paid in full by the Indemnifying Party, which such consent shall not be unreasonably withheld or delayed. 

(iii) In the event that the Indemnifying Party timely defends, contests or otherwise protects the Indemnified Party
against a Third Party Claim, the Indemnified Party shall nevertheless have the right to, but shall not be obligated to, participate at its own expense in the defense of the Third Party Claim with counsel of its own choosing; provided that if the
Indemnified Party reasonably concludes that counsel to the Indemnifying Party has a conflict of interest, the Indemnifying Party will be responsible for the fees and expenses of the Indemnified Party’s counsel (but not more than one law firm
per jurisdiction). 

  
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 (iv) In the event the Indemnifying Party fails to defend, contest or
otherwise protect against any Third Party Claim in a timely matter, the Indemnified Party may, but shall not be obligated to, defend, contest or otherwise protect against the same, and make any compromise or settlement thereof and shall be entitled
to recover the entire cost thereof from the Indemnifying Party, including reasonable attorneys’ fees, disbursements and all amounts paid as a result of such Claim or suit or the compromise or settlement thereof; provided, however, that
if the Indemnifying Party subsequently undertakes the defense of such matter, the Indemnified Party shall not be entitled to recover from the Indemnifying Party its costs thereafter incurred in the defense thereof other than the reasonable cost of
investigation undertaken by the Indemnified Party and reasonable cost of providing assistance. 
 (v) Regardless
of whether the Indemnifying Party has assumed the defense of a Third Party Claim, the Indemnified Party and the Indemnifying Party shall cooperate in the defense of such Claim. Such cooperation shall include the provision and access to the defending
party of documents, information, books and records reasonably requested by the defending party and material to such Claim; and making available employees as may be reasonably requested by the defending party and as shall be reasonably required in
connection with the defense of such Claim and Proceeding resulting therefrom. 
 (b) Other Claims. In the event that the
Buyer or Seller Parent should have a Claim for indemnification under this Article 12 against the other party that does not involve a Third Party Claim, the party seeking indemnification shall promptly deliver to the party from whom
indemnification is sought written notice of such Claim detailing the basis for such Claim. 
 (c) Defense of the Neology
Lawsuits. Notwithstanding the procedures set forth in Section 12.4, in the event that the Neology Lawsuits are not fully and finally resolved by the Sellers prior to the Closing Date (subject to the covenant of
Section 5.1(k)), the Buyer shall defend, control and/or settle the Neology Lawsuits; provided, however, that the Buyer will not enter into any settlement with respect to either of the Neology Lawsuits without the prior written consent of
the Seller Parent, which such consent shall not be unreasonably withheld or delayed. The Sellers shall cooperate in and provide reasonable assistance to the Buyer in so conducting such defense. The Buyer shall have the right to make Claims against
the Escrowed Proceeds for any and all Buyer Losses as they are incurred arising from the Neology Lawsuits to be paid in accordance with the Escrow Agreement. 
 12.5 Mitigation of Losses; Adjustment to Purchase Price; No Consequential Damages. 
 (a) The amount of any Buyer’s Loss subject to indemnification hereunder or of any Claim therefor shall be calculated net of (i) any accruals or reserves on the Final Closing Date Statement that
specifically relate to the matter(s) for which indemnification is claimed, (ii) any amounts actually recovered by the Buyer, any FS Tech Entities or any of their Affiliates pursuant to any indemnification by or indemnification agreement with
any non-affiliated third party (net of all direct collection expenses), and (iii) any insurance proceeds or other cash receipts or sources of reimbursement received as an offset against such Buyer’s Loss (net of all direct collection
expenses and premium increases) actually received by the Buyer or any FS Tech Entity or any of their Affiliates on account of such loss. 
 (b) No Indemnified Party shall be entitled to double recovery (or recovery more than once) for the amount of any losses indemnified by the Indemnifying Party under this Article 12
(“Losses”) suffered by such party to the extent such party has otherwise been compensated for such Losses (even if such Losses may have resulted from the breach or inaccuracy of more than one of the representations and warranties or
covenants herein). For the avoidance of doubt, no Buyer Indemnified Party shall be entitled to recover for any breach by Seller Parent of any of the representations or warranties contained in Article 3 that are also Claims of Neology (or any
Affiliate or successor thereof) in the Neology Lawsuits. 

  
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 (c) Each Person entitled to indemnification hereunder shall take reasonable steps to
mitigate all Losses, costs, expenses and damages. 
 (d) All indemnification payments made hereunder shall be treated by the
parties hereto as adjustments to the Purchase Price. 
 (e) Notwithstanding anything to the contrary elsewhere in this
Agreement, no party hereto (or its Affiliates or any director, officer, employee or agent of such party or Affiliate) shall, in any event, be liable to any other party (or its Affiliates or any director, officer, employee or agent of such party or
Affiliate) for any indirect or consequential damages (except those incurred with respect to Third Party Claims), including, but not limited to, loss of revenue or income, cost of capital, or loss of business reputation or opportunity relating to the
breach or alleged breach of this Agreement. 
 12.6 Payment of Buyer’s Loss. Except with respect to Buyer’s
Losses under Section 12.2(a)(i)(F) and any related Claims made under Section 12.2(a)(ii) and subject to the applicable limitations set forth in this Article 12, all liabilities of Seller Parent under this Article 12:
(i) shall first be paid or reimbursed out of the Escrowed Proceeds in accordance with the terms of the Escrow Agreement and (ii) after exhaustion of the Escrowed Proceeds or upon the release of the Escrowed Proceeds in accordance with the
terms of the Escrow Agreement, any Claim for indemnification by the Buyer Indemnified Parties shall be satisfied by Seller Parent. With respect to Buyer’s Losses under Section 12.2(a)(i)(F) and any related Claims made under
Section 12.2(a)(ii), all liabilities of Seller Parent shall be paid solely and exclusively out of the Escrowed Proceeds in accordance with the Escrow Agreement. 
 12.7 Exclusive Remedy. The Buyer acknowledges and agrees that the foregoing indemnification provisions in this Article 12 shall be the sole and exclusive remedy of the Buyer for money
damages (but not for injunctive or other non-monetary equitable relief) of any Buyer Indemnified Party with respect to the transactions contemplated by this Agreement, except with respect to fraud or intentional misrepresentation, as to which the
parties shall have, in addition to the indemnification provisions of this Article 12, all of their rights and remedies at Law. 
 ARTICLE 13 
 MISCELLANEOUS 

13.1 Notices. Any notices or other communications required or permitted hereunder (including, by way of illustration and not
limitation, any notice permitted or required under Article 13 hereof) to any party hereto shall be sufficiently given when delivered in person, or when sent by certified or registered mail, postage prepaid, or one (1) Business Day
after dispatch of such notice with an overnight delivery service, or when transmitted by facsimile or other form of electronic communication if an answer back is received by the sender, in each case addressed as follows: 

  
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 In the case of the Buyer: 

Traffic Safety Systems Division 
 Building 235-3A-09 
 3M Center 

St. Paul, MN 55144 
 Attention: Vice President and General Manager 
 Facsimile: 651-733-1754 

With a copy to: 

3M Office of General Counsel 
 Building 220-9E-02 
 3M Center 

St. Paul, MN 55144 
 Attention: Gregg M. Larson, Secretary and Deputy General Counsel 
 Facsimile:
651-736-2205 
 In the case of the Sellers: 
 Federal Signal Corporation 
 1415 West 22nd Street 

Oak Brook, Illinois 60523 
 Attention: Dennis J. Martin, Chief Executive Officer 
 Facsimile: 1-630-954-3961

 With copies to: 
 Federal Signal Corporation 
 1415 West 22nd Street 

Oak Brook, Illinois 60523 
 Attention: Jennifer L. Sherman, General Counsel 
 Facsimile: 1-866- 229-4459

 and 

Thompson Coburn LLP 
 One US Bank Plaza 
 St. Louis, Missouri 63101 

Attn: Robert M. LaRose 
 Facsimile: (314) 552-7068 
 or such substituted address or attention as any party shall have
given notice to the others in writing in the manner set forth in this Section 13.1. 
 13.2 Amendment. This
Agreement may be amended or modified in whole or in part only by an agreement in writing executed by Buyer Parent and Seller Parent and making specific reference to this Agreement. 

  
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 13.3 Counterparts. This Agreement may be executed in one or more counterparts
(including by means of facsimile), each of which shall be deemed an original but all of which together will constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by facsimile shall be
effective as delivery of an originally executed counterpart to this Agreement. 
 13.4 Binding on Successors and Assigns.
This Agreement shall be binding upon, inure to the benefit of and be enforceable by and against the parties hereto and their respective successors and assigns in accordance with the terms hereof. No party may assign their interest under this
Agreement without the prior written consent of the other party; provided that the Buyer may assign its rights and interests to any of its Affiliates. Any purported assignment or delegation in violation of this Section 13.4 shall be null
and void. 
 13.5 Severability. In the event that any one or more of the provisions contained in this Agreement or any
application thereof shall be invalid, illegal or unenforceable in any respect, the validity, legality or enforceability of the remaining provisions of this Agreement and any other application thereof shall not in any way be affected or impaired
thereby; provided, however, that to the extent permitted by applicable Law, any invalid, illegal, or unenforceable provision may be considered for the purpose of determining the intent of the parties in connection with the other provisions of
this Agreement. 
 13.6 Waivers. The parties may, by written agreement, (a) extend the time for the performance of
any of the obligations or other acts of the parties hereto, (b) waive any inaccuracies in the representations contained in this Agreement or in any document delivered pursuant to this Agreement, (c) waive compliance with, or modify, any of
the covenants or conditions contained in this Agreement, and (d) waive or modify performance of any of the obligations of any of the parties hereto; provided, that no such waiver or failure to insist upon strict compliance with such
obligation, covenant, agreement or condition shall operate as a waiver of, or an estoppel with respect to, any subsequent insistence upon such strict compliance other than with respect to the matter so waived or modified. 

13.7 Press Releases and Public Announcements. Except as required by applicable Law, including the U.S. federal securities Laws or
listing agreement with any securities exchange, no party to this Agreement shall, nor permit its Affiliates to, make any public announcement or press release with respect to this Agreement or the transactions contemplated hereby; provided,
however, that such a public announcement or press release may be issued at such time and in such manner as Buyer Parent and Seller Parent shall mutually agree and determine. 

13.8 Headings. The headings in the sections and subsections of this Agreement and in the Schedules are inserted for convenience
only and in no way alter, amend, modify, limit or restrict the meaning or interpretation of contractual obligations of the parties under this Agreement. 
 13.9 Supplemental Information; List of Schedules and Exhibits. 
 (a) Between
the date of this Agreement and the Closing, Seller Parent shall give prompt notice to Buyer Parent upon becoming aware of any and all facts, conditions, occurrences, changes, and other matters in each case occurring after the date hereof that will
cause the representations and warranties of Seller Parent contained herein (including the Schedules) not to be true and correct in all material respects on and as of the Closing Date with the same effect as though made on and as of the Closing Date.
Such notice shall specifically refer to this Section 13.9, shall be true, complete and correct and in reasonable detail, and shall specifically identify each representation or warranty so affected and the specific manner in which it is
so affected. Any such notice or additional disclosure related thereto shall have no effect on the determination of the satisfaction of any conditions to the obligation of the other parties to consummate the transaction contemplated by this Agreement
set forth in Article 8 (“Buyer’s 

  
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Conditions to Closing”) or on the determination of the presence of a breach of any representation or warranty in this Agreement or the Buyer’s right to indemnification under this
Agreement. Seller Parent shall promptly provide the Buyer with such additional information in its possession as the Buyer may reasonably request relating to any such notice provided in accordance with the preceding sentence. 

(b) As mentioned in this Agreement, there are attached hereto or delivered herewith, the Annex, Schedules and Exhibits identified below.

 Each of the foregoing Schedules is incorporated herein by this reference and expressly made a part hereof. 

SCHEDULES 
  

			
	Schedule 1	 	FS Tech Entities
	Schedule 1.1A	 	Standard Policies and Practices
	Schedule 1.1B	 	Permitted Encumbrances
	Schedule 2.1(i)	 	Software Assets
	Schedule 2.1(r)	 	Assets at the University Park Facility
	Schedule 2.2(k)	 	Excluded Assets
	Schedule 3.1(d)	 	Violations or Conflicts
	Schedule 3.1(e)	 	Governmental Consents
	Schedule 3.1(f)	 	Title
	Schedule 3.2(a)	 	Financial Statement Exceptions to GAAP
	Schedule 3.2(b)	 	Material Changes or Events
	Schedule 3.2(c)	 	Undisclosed Liabilities
	Schedule 3.2(d)	 	Sales and Assets by Country
	Schedule 3.2(e)	 	Cash Collected on Behalf of Customers
	Schedule 3.3(a)	 	Tax Matters: Tax Returns; Extensions
	Schedule 3.3(b)	 	Tax Matters: Audits
	Schedule 3.4(b)	 	Real Property Leases
	Schedule 3.4(c)	 	Personal Property; Personal Property Leases
	Schedule 3.5(a)	 	Intellectual Property; Intellectual Property Licenses
	Schedule 3.5(c)(i)	 	FS Tech Software Matters
	Schedule 3.6(a)	 	Debt Instruments
	Schedule 3.6(b)	 	Material Contracts
	Schedule 3.6(c)	 	Insurance Policies
	Schedule 3.6(d)	 	Status
	Schedule 3.6(e)	 	Exceptions to Assumed Contract Status
	Schedule 3.7(a)	 	Business Employees; Independent Contractors
	Schedule 3.7(b)	 	Employment Laws/Labor Matters
	Schedule 3.7(c)	 	Witholdings
	Schedule 3.7(d)	 	Benefit Plans
	Schedule 3.7(e)	 	Labor/Employment Proceedings
	Schedule 3.7(f)	 	Non-Employee Classification
	Schedule 3.7(g)	 	Employment at Will Exceptions
	Schedule 3.7(i)	 	Sale Bonus Agreements
	Schedule 3.8	 	Litigation and Other Proceedings

  
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	Schedule 3.9(a)	 	Compliance with Laws
	Schedule 3.9(b)	 	Permits
	Schedule 3.10(a)	 	Environmental Matters
	Schedule 3.10(b)	 	Environmental Permits
	Schedule 3.11	 	Bank Accounts
	Schedule 3.12	 	Brokers and Commissions
	Schedule 3.13	 	Suppliers
	Schedule 3.14	 	Customers
	Schedule 3.15(a)	 	Exceptions to Standard Warranty
	Schedule 3.15(b)	 	Product Liability Claims
	Schedule 3.16	 	Affiliate Transactions
	Schedule 3.17	 	Capital Expenditures
	Schedule 3.18	 	Accounts Receivable
	Schedule 3.19	 	Exceptions to Sufficiency of Assets
	Schedule 4.1(d)	 	Governmental Consents (Buyer)
	Schedule 4.2	 	Brokers and Commissions (Buyer)
	Schedule 5.1	 	Conduct of Business by the FS Tech Entities
	Schedule 5.8	 	Termination of Intercompany Arrangements
	Schedule 6.1(d)	 	Performance Collateral
	Schedule 6.1(e)	 	Release of Guaranties of Sellers
	Schedule 8.3	 	Consents Required by Buyer
	Schedule 9.3	 	Consents Required by Seller Parent
	
	EXHIBITS
		
	Exhibit A	 	Preliminary Statement Sample Calculation
	Exhibit B	 	Current Assets; Current Liabilities
	Exhibit C	 	Working Capital Calculation Principles
	Exhibit D	 	Form of Escrow Agreement
	Exhibit E	 	Form of Transition Services Agreement
	Exhibit F	 	Form of Supply Agreement
	Exhibit G	 	Form of Bill of Sale
	Exhibit H	 	Form of Assignment and Assumption Agreement
	Exhibit I	 	Form of Product Processing Agreement

 13.10 Entire Agreement. All prior negotiations and agreements between the parties hereto are
superseded by this Agreement (except with respect to the Confidentiality Agreement described in Section 13.19 of this Agreement), and there are no representations, warranties, understandings or agreements other than those expressly set
forth herein or in a Schedule delivered pursuant hereto, except as modified in writing concurrently herewith or subsequent hereto. 
 13.11 Choice of Law. This Agreement shall be governed, construed, and enforced in accordance with the Laws of the State of Minnesota without regard to the conflicts of law principles thereof.

 13.12 Venue. Any and all actions brought in court shall be filed in the state or federal district court located in St.
Paul, Minnesota and the parties specifically consent and submit to the jurisdiction and venue of each such state or federal court. Each party further agrees that service of any process, summons, notice or document by U.S. registered mail to such
party’s respective address set forth above shall be 

  
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effective service of process for any action with respect to any matters to which it has submitted to jurisdiction in this Section 13.12. Each party irrevocably and unconditionally
waives any objection to the laying of venue of any action arising out of this Agreement, the Other Agreements or the transactions contemplated hereby or thereby in any such court, and hereby further irrevocably and unconditionally waives and agrees
not to plead or claim in any such court that any such action brought in any such court has been brought in an inconvenient forum. 
 13.13 Waiver of Jury Trial Rights. EACH OF THE PARTIES HERETO EXPRESSLY WAIVES ITS RIGHTS TO A TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT, THE
OTHER AGREEMENTS OR THE MATTERS CONTEMPLATED HEREBY OR THEREBY. EACH OF THE PARTIES ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO THIS AGREEMENT, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT AND
THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN FUTURE DEALINGS. EACH OF THE PARTIES HERETO FURTHER REPRESENTS AND WARRANTS THAT EACH HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS RIGHT TO A
TRIAL BY JURY FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 
 13.14 No Third-Party Rights. Other than sections which are
specifically for the benefit of the Buyer Indemnified Parties or the Seller Indemnified Parties, this Agreement is not intended and shall not be construed to create any rights in any Persons other than the Buyer and the Sellers, and no Person shall
assert any rights as third-party beneficiary hereunder. 
 13.15 Sales and Transfer Taxes. Except as is contemplated by
Section 7.2 hereof, the Buyer and Seller Parent shall be equally responsible for and each pay fifty percent (50%) of all applicable sales, transfer, stamp, documentary, use, filing and other similar Taxes and fees (“Transfer
Taxes”) that may become due or payable (and are not subject to an exemption) as a result of the sale, conveyance, assignment, transfer or delivery of the Assets or the Business, whether levied on the Buyer or any Seller. The Buyer and the
Sellers agree to file all necessary documentation (including Tax Returns) with respect to such Transfer Taxes in a timely manner, and, if required by applicable Law, the Buyer and the Sellers will, and shall cause their Affiliates, to join in the
execution of any such Tax Returns and documentation. At the Closing, the Sellers shall execute and deliver to the Buyer any certificates or other documents as the Buyer may reasonable request to claim available exemptions from the payment of sales,
transfer, stamp, documentary, use, filing or other such similar Taxes and fees under applicable Law. 
 13.16 Expenses.
Except as expressly provided otherwise herein, Seller Parent, on the one hand, and the Buyer, on the other, shall pay all costs and expenses incurred by it or on its behalf in connection with this Agreement and the transactions contemplated hereby,
including, without limiting the generality of the foregoing, fees and expenses of its own financial consultants, accountants and counsel. 
 13.17 Specific Performance. The parties hereto agree that irreparable damage would occur in the event any provision of this Agreement required to be performed prior to the Closing was not performed
in accordance with the terms hereof and that, prior to the Closing, the parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy at Law or in equity. 

13.18 Dispute Resolution. 
 (a) Any disagreement or dispute between the parties arising out of or related to this Agreement or the breach or making hereof (a “Dispute”) shall be resolved in the manner provided in
this Section 13.18. Should there develop any Dispute, either party may, by written notice to the other party, 

  
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request that such Dispute be referred to the Vice President and General Manager of the Traffic Safety Systems Division, 3M Company and the General Counsel of the Seller Parent, or to such other
person as the General Counsel shall so designate (the “Principals”), who shall negotiate in good faith to attempt to resolve the Dispute. No settlement reached under this Section 13.18(a) shall be binding
on the parties until reduced to a writing signed on behalf of the parties by the Principals. 
 (b) Should the procedure
outlined in Section 13.18(a) fail to bring about a resolution of each outstanding Dispute within 30 days following the giving of the notice referred to therein, then either party may initiate a voluntary, non-binding mediation conducted
by a mutually-agreed mediator. Should the parties for any reason be unable to agree upon a mediator, they shall request the clerk of court of the Ramsey County District Court in the State of Minnesota to appoint a capable mediator for them. Seller
Parent and Buyer Parent shall each bear one-half of the costs and expenses of the mediation and shall endeavor in good faith to resolve therein each outstanding Dispute. No settlement reached under this Section 13.18(b) shall be binding
on the parties until reduced to a writing signed on behalf of the parties by the Principals. 
 (c) Notwithstanding anything to
the contrary provided in this Section 13.18, and without prejudice to the above procedures, either party may at any time, in connection with any Dispute, apply to a court of competent jurisdiction for temporary injunctive or other
provisional judicial relief if in such party’s sole judgment such action is necessary to avoid irreparable damage or to preserve the status quo until such time as the Dispute is otherwise resolved in accordance with this
Section 13.18. 
 13.19 Confidentiality. The terms of the Confidentiality Agreement are hereby incorporated
herein by reference and shall continue in full force and effect until the Closing, at which time such Confidentiality Agreement and the obligations of the Buyer under this Section 13.19 shall terminate. If this Agreement is, for any
reason, terminated prior to the Closing, the Confidentiality Agreement shall continue in full force and effect. 
 13.20
Compliance with Bulk Sales Laws. Subject to Section 12.2(a)(i)(E), the Buyer and the Sellers hereby waive compliance by the Buyer and the Sellers with the bulk sales Law and any other similar Laws in any applicable jurisdiction in
respect of the transactions contemplated by this Agreement. 
 13.21 Survivability of Provisions After Termination. If
this Agreement is terminated pursuant to Article 11 hereof, it shall become null and void and have no further force and effect, except as provided in Section 11.5 and Article 13 which shall survive termination and
except that nothing herein shall relieve any party hereto for a breach by such party of the terms of this Agreement. Upon any termination of this Agreement, each party hereto will return or destroy all documents, work papers and all other material
of the other party relating to the transactions contemplated hereby and all copies of such materials, where so obtained before or after the execution hereof, to the party furnishing the same. 

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

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their
duly authorized representatives on the day and year first above written. 
  

			
	BUYER PARENT:
	
	3M COMPANY
		
	By:	 	/s/ John R. Houle
	Name:	 	John R. Houle
	Title:	 	Vice President and General Manager
		 	Traffic Safety Systems Division
	
	SELLER PARENT:
	
	FEDERAL SIGNAL CORPORATION
		
	By:	 	/s/ Jennifer L. Sherman
	Name:	 	Jennifer L. Sherman
	Title:	 	Senior Vice President, Chief Administrative
		 	Officer, General Counsel and Secretary

 [SIGNATURE PAGE TO ASSET
PURCHASE AGREEMENT] 

  
 - 71 -

 FS TECH ENTITIES: 

 

			
	FEDERAL SIGNAL TECHNOLOGIES, LLC
		
	By:	 	/s/ Jennifer L. Sherman
	Name: Jennifer L. Sherman
	Title: Vice President and Secretary
	
	VESYSTEMS, LLC
		
	By:	 	/s/ Jennifer L. Sherman
	Name: Jennifer L. Sherman
	Title: Vice President and Secretary
	
	SIRIT INC.
		
	By:	 	/s/ Jennifer L. Sherman
	Name: Jennifer L. Sherman
	Title: Vice President and Secretary
	
	SIRIT CORP.
		
	By:	 	/s/ Jennifer L. Sherman
	Name: Jennifer L. Sherman
	Title: Vice President and Secretary
	
	FEDERAL APD INCORPORATED
		
	By:	 	/s/ Jennifer L. Sherman
	Name: Jennifer L. Sherman
	Title: Vice President and Secretary
	
	DIAMOND CONSULTING SERVICES LIMITED
		
	By:	 	/s/ Jennifer L. Sherman
	Name: Jennifer L. Sherman
	Title: Director

			
	PIPS TECHNOLOGY INC.
		
	By:	 	/s/ Jennifer L. Sherman
	Name: Jennifer L. Sherman
	Title: Vice President and Secretary
	
	PIPS TECHNOLOGY LIMITED
		
	By:	 	/s/ Jennifer L. Sherman
	Name: Jennifer L. Sherman
	Title: Director
	
	IDRIS TECHNOLOGY LIMITED
		
	By:	 	/s/ Jennifer L. Sherman
	Name: Jennifer L. Sherman
	Title: Director
	
	FEDERAL SIGNAL TECHNOLOGIES (HONG KONG) LIMITED
		
	By:	 	/s/ Jennifer L. Sherman
	Name: Jennifer L. Sherman
	Title: Authorized Signatory
	
	FEDERAL SIGNAL DO BRASIL PARTICIPAÇÕES LTDA
		
	By:	 	/s/ George Pikielny
	Name: George Pikielny
	Title: Director
	
	FEDERAL APD DE MEXICO, S.A. DE C.V.
		
	By:	 	/s/ Jennifer L. Sherman
	Name: Jennifer L. Sherman
	Title: Attorney-in-Fact
	
	FEDERAL APD DO BRASIL LTDA
		
	By:	 	/s/ George Pikielny
	Name: George Pikielny
	Title: Attorney-In-Fact for Denison Vieira de Oliveira, Director

 
 

  

[SIGNATURE PAGE TO ASSET PURCHASE AGREEMENT]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00205-of-00352.parquet"}]]