Document:

Exhibit 4.5

 

Execution Version

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY           ,
HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE AND CONFIDENTIAL

 

AMENDMENT NO. 3 TO FIRST AMENDED AND RESTATED

UNCOMMITTED LINE OF CREDIT AGREEMENT

 

THIS AMENDMENT NO. 3, dated as of November __,
2021 (this “Amendment”), is made and entered into by and between IMS Internet Media Services, Inc., a
Florida corporation (the “Borrower”) and CITIBANK, N.A. (the
 “Lender”), and amends the First Amended and Restated Uncommitted Line of Credit Agreement dated as of November 19,
2020 (as amended, supplemented or otherwise modified through the date hereof, the “Credit Agreement”) entered into
by and between the Borrower and the Lender.

 

WITNESSETH

 

WHEREAS, the Borrower and the Lender desire to
amend the Credit Agreement in order to effect the changes described below;

 

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

 

SECTION 1. Definitions and References.
Capitalized terms not otherwise defined herein shall have the meanings attributed thereto in the Credit Agreement.

 

SECTION 2. Amendments.

 

(a)  The first sentence of Section 1
of the Credit Agreement is hereby amended by deleting the reference to “$27,000,000” therefrom and substituting, in lieu
thereof, $40,000,000”.

 

(b)  Section 2 of the Credit
Agreement is hereby amended, restated and replaced in its entirety with the following:

 

“2. Each request for an Advance by the Borrower
shall be in writing in substantially the form of Exhibit A attached hereto. Each request by the Borrower to the Lender for an Advance
based on the SOFR Rate (as defined in Section 4) (a “SOFR Rate Advance”) will be given not later than 2:00 P.M. (New
York City time) three Business Days (as defined below) prior to the date of such proposed Advance, and each request by the Borrower to
the Lender for an Advance based on a Quoted Rate (as defined in Section 4) (a “Quoted Rate Advance”) will be
given not later than 11:00 A.M. (New York City time) on the date of such proposed Advance. Each request will specify (i) the
date on which the Borrower wishes the Advance to be made (which will be any day except for (i) a Saturday, (ii) a Sunday or
(iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its
members be closed for the entire day for purposes of trading in United States government securities (“Business Day”)),
(ii) the amount it wishes to borrow (which will be in the amount of $1,000,000 or an integral multiple thereof), (iii) the
interest period (“Interest Period”) it wishes to apply to such Advance, and (iv) whether such Advance will be
a SOFR Rate Advance or a Quoted Rate Advance. The duration of each Interest Period will be, with respect to SOFR Rate Advances, one or
three months, and with respect to Quoted Rate Advances, a term requested by the Borrower and agreed to by the Lender, provided
that (i) the Borrower may not select any Interest Period that ends after the Termination Date; (ii) whenever the last day of
an Interest Period would otherwise occur on a day other than a Business Day, the last day of such Interest Period will be extended to
occur on the next succeeding Business Day, provided that, in the case of a SOFR Rate Advance, if such extension would cause the
last day of such Interest Period to occur in the next following calendar month, the last day of such Interest Period will occur on the
next preceding Business Day; and (iii) with respect to a SOFR Rate Advance, whenever the first day of any Interest Period occurs
on a day of an initial calendar month for which there is no numerically corresponding day in the calendar month that succeeds such initial
calendar month by the number of months equal to the number of months in such Interest Period, such Interest Period will end on the last
Business Day of such succeeding calendar month. If the Lender agrees, in its sole discretion, to make such Advance, it will make such
funds available to the Borrower in same day funds by crediting the account specified by the Borrower prior to the making of such Advance.”

 

    1 

     

    

 

Execution Version

 

(c)  Section 4 of the Credit Agreement
is hereby amended, restated and replaced in its entirety with the following:

 

“4. The Borrower will pay interest on the
unpaid principal amount of each Advance made to it from the date of such Advance until such principal amount is paid in full, in the
case of a SOFR Rate Advance, at a rate equal to the SOFR Rate for the Interest Period for such Advance plus, the applicable Benchmark
Adjustment plus 3.00%, and in the case of a Quoted Rate Advance, at a rate equal to the Quoted Rate for such Advance, in each case payable
in arrears on the last day of the Interest Period for such Advance and, if such Interest Period is longer than three months, on each
day that occurs during such Interest Period every three months from the first day of such Interest Period. Any overdue amount of principal,
interest or other amount payable hereunder will bear interest, payable on demand, at the Base Rate (as defined below) plus 2%
per annum.

 

“Benchmark Adjustment Rate”
means a rate equal to (i) 0.11448% (11.448 basis points) for an Interest Period of one-month’s duration and (ii) 0.26161%
(26.161 basis points) for an Interest Period of three-months’ duration.

 

“Floor” means a rate of interest
equal to 0%.

 

“Periodic Term SOFR Determination Day”
has the meaning specified in the definition of “Term SOFR”.

 

“SOFR” means a rate equal to
the secured overnight financing rate as administered by the SOFR Administrator.

 

“SOFR Administrator” means
the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).

 

“SOFR Rate” means, for any
calculation with respect to a SOFR Rate Advance, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period
on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) Business Days prior to the
first day of such Interest Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New
York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published
by the Term SOFR Administrator, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator
on the first preceding Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator
so long as such first preceding Business Day is not more than three (3) Business Days prior to such Periodic Term SOFR Determination
Day, and after application of such rate for not more than three (3) Business Days. Notwithstanding the foregoing, if the Lender
is unable to determine the SOFR Rate pursuant to the foregoing definition, upon notice to the Borrower, the Borrower may revoke any pending
request for a borrowing of, conversion to or continuation of a SOFR Rate Advance, failing that, the Borrower will be deemed to have converted
any such request into a request for a borrowing of or conversion to an Advance bearing interest at the Base Rate and any outstanding
affected SOFR Rate Advances will be deemed to have been converted into Advance bearing interest at the Base Rate at the end of the applicable
Interest Period; and provided, further, that if Term SOFR determined as provided above shall ever be less than the Floor, then Term SOFR
shall be deemed to be the Floor.

 

“Term SOFR Administrator” means
CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term SOFR Reference Rate selected by the Lender
in its reasonable discretion).

 

“Term SOFR Reference Rate”
means the forward-looking term rate based on SOFR.

 

    2 

     

    

 

Execution Version

 

“Quoted Rate” means, for any
Quoted Rate Advance, a rate quoted by the Lender and agreed to by the Borrower for such Advance.

 

“Base Rate” means a fluctuating
rate of interest announced publicly by Citibank, N.A. in New York, New York from time to time as its base rate.”

 

(d) Section 10(s) of the Credit
Agreement is hereby amended by deleting both references to “$27,000,000” and inserting “$40,000,000” in lieu
thereof.

 

(e) Section 11(l) of the Credit
Agreement is hereby amended and restated in its entirety as follows:

 

“(l)  not permit the Leverage Ratio, as of the
last day of any fiscal quarter, to be greater than 2.50:1.00.”

 

(f) Section 13(h) of the Credit
Agreement is hereby amended by deleting both references to “$27,000,000” and inserting “$40,000,000” in lieu
thereof.

 

(g) Section 13(i) of the Credit
Agreement is hereby amended and restated in its entirety to read as follows:

 

“(i) the Borrower ceases to own, legally and
beneficially, 100% of HTTpool Holdings UK Limited, (ii) Christian Gaston Taratuta ceases to Control, directly or indirectly, Latam
Media Holdings LLC, (iii) Latam Media Holdings LLC ceases to Control Aleph Internet Media Services LLC (“Aleph”),
(iv) Aleph ceases to Control Aleph Group, Inc (which as of the Amendment No. 2 Effective Date, will be maintained through
Control of its Board of Directors (or similar governing body)), (v) Aleph Group, Inc ceases to Control the Borrower or (vi) Christian
Gaston Taratuta ceases to Control, directly or indirectly, the Borrower (which will be maintained through Control of the Board of Directors
(or similar governing body) of Aleph Group, Inc.).”

 

(h) A new Section 27 is incorporated
and added at the end of the Credit Agreement as follows:

 

“27. Notwithstanding anything to the contrary herein,
the Lender shall have the right to make additional technical, administrative or operational changes to this Agreement or any other related
document that the Lender decides may be appropriate to reflect the use, adoption, administration and implementation of the SOFR Rate
as a benchmark rate hereunder, to permit the administration thereof, and any amendments implementing such changes will become effective
without any further action or consent of Borrower. Lender will notify Borrower of the implementation of any such conforming changes.”

 

SECTION 3. Representations True; No Default.
The Borrower represents and warrants that:

 

(a)  The representations and warranties contained
in the Credit Agreement and each other Loan Document are true correct on and as of the date of this Amendment as though made on and as
of the date hereof.

 

(b)  No event has occurred and is continuing,
or would result from the execution and delivery of this Amendment, which constitutes a Default or Event of Default.

 

SECTION 4. Legal Obligation. The Borrower
represents and warrants to the Lender that this Amendment has been duly authorized, executed and delivered on its behalf, and that the
Credit Agreement, as amended hereby, constitutes a legal, valid and binding obligation of the Borrower, enforceable against the Borrower
in accordance with its terms.

 

SECTION 5. Ratification. Except as
amended hereby, the Credit Agreement, the other Loan Documents and all other documents executed in connection therewith shall remain
in full force and effect. The Credit Agreement, as amended hereby, and all rights and powers created thereby or thereunder and under
the other Loan Documents or such other documents are in all respects ratified and confirmed.

 

    3 

     

    

 

Execution Version

 

SECTION 6. Conditions Precedent. This
Amendment will become effective on and as of the first date on which the following conditions precedent have been satisfied:

 

(a)  the Lender has received a counterpart
of this Amendment duly executed by the Borrower and the Lender;

 

(b) the Lender has received certified copies
of the resolutions of the Borrower’s Board of Directors approving this Amendment, and of all other documents evidencing necessary
corporate action and governmental and other third party approvals, if any, with respect to this Amendment; and

 

(c)  the Lender has received a certificate
of the Borrower’s Secretary or Assistant Secretary certifying the names and true signatures of the Borrower’s officers authorized
to sign this Amendment;

 

(d) the Lender has received a letter from
the Subsidiary Guarantors reaffirming the obligations of each Subsidiary Guaranty under the Loan Documents to which such Subsidiary Guarantor
is a party, in form and substance acceptable to the Lender; and

 

(e) the Lender shall have received all of
the fees, costs and expenses (including the fees and expenses of counsel to the Lender) that are due and payable hereunder and under
the Loan Documents.

 

SECTION 7. Miscellaneous.

 

(a)  The Credit Agreement and this Amendment
shall be read, taken and construed as one and the same instrument.

 

(b)  The provisions of Section 21 of
the Credit Agreement are hereby incorporated herein, mutatis mutandis.

 

(c) Any references in the Credit Agreement
to “this Agreement”, “hereunder”, “herein” or words of like import, and each reference in any other
document executed in connection with the Credit Agreement, to “the Agreement”, “thereunder”, “therein”
or words of like import, shall mean and be a reference to the Credit Agreement as amended hereby.

 

(d) This Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed an original
and all of which taken together shall constitute one and the same agreement.

 

[SIGNATURE PAGE FOLLOWS]

 

    4 

     

    

 

Execution Version

 

IN WITNESS WHEREOF, the parties hereto
have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.

 

	 	IMS Internet media services, inc.  
	 	 
	 	By:	          
	 	Name:	          
	 	Title:	          

 

 

	 	CITIBANK, N.A.
	 	 
	 	By:	          
	 	Name:	          
	 	Title:Exhibit 10.1

 

EXECUTION
VERSION

 

	CERTAIN
    CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY            ,
    HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE AND CONFIDENTIAL	 	

 

Dated 29 September
2021

 

Deed of

 

Adherence, Amendment
and Restatement

 

Between

 

Aleph
Internet Media Services LLC

 

A15 Holding Netherlands
B.V.

 

IMS Internet
Media Services, Inc.

 

Httpool Holdings
UK Limited

 

Connect Ads DMCC

 

and

 

Aleph Group Inc.

 

     

     

    

 

	 	Table
    of Contents	 
	 	 	Page
	1.	Interpretation	2
	2.	Adherence to the SPA	2
	3.	Amendment and Restatement of
    the SPA	2
	4.	Miscellaneous	3
	 	 	 
	Schedule 1 The
    Amended and Restated SPA	7

 

    (i)

     

    

 

This Deed of Adherence,
Amendment and Restatement is made on 29 September 2021

 

Between:

 

		(1)	Aleph
                                            Internet Media Services LLC, a limited liability company incorporated in the United States,
                                            with registered number L21000042376 and whose registered office is at                      
                                            (“Aleph”);

 

		(2)	A15
                                            Holding Netherlands B.V., a company incorporated in the Netherlands, with registered
                                            number 63036673 and whose registered office is at                    (“A15”);

 

		(3)	IMS
                                            Internet Media Services, Inc., a company incorporated in the United States, with registered
                                            number P05000006068 and whose registered office is at                      
                                            (“IMS”);

 

		(4)	Httpool
                                            Holdings UK Limited, a company incorporated in the United Kingdom, with registered number
                                            10375627 and whose registered office is at                      (“Httpool”);

 

		(5)	Connect
                                            Ads DMCC, a company incorporated in the Dubai Multi Commodities Centre, Dubai, UAE, with
                                            registered number DMCC91896 and whose registered office is at                      
                                              (“Connect Ads”);
                                            and

 

		(6)	Aleph
                                            Group Inc., an exempted company incorporated in the Cayman Islands, with registered number
                                            378353 and whose registered office is at the offices of          
                                             (“Aleph Cayman”).

 

Whereas:

 

		(A)	On
                                            5 July 2021, Aleph, A15, IMS, Httpool and Connect Ads entered into a share sale and purchase
                                            agreement (the “SPA”),
                                            pursuant to which (inter alia):

 

		(i)	A15
                                            agreed to sell, and Httpool agreed to purchase, certain shares in the share capital of Connect
                                            Ads, for cash consideration; and

 

		(ii)	A15
                                            agreed to sell, and IMS agreed to purchase, certain shares in the share capital of Connect
                                            Ads, in consideration for the allotment and issuance of certain shares in the share capital
                                            IMS.

 

		(B)	As
                                            at the date of the SPA:

 

		(i)	Aleph
                                            was the legal and beneficial owner of 90% of the entire issued share capital of IMS and Sony
                                            Pictures Advertising Sales Company (“Sony”)
                                            was the legal and beneficial owner of 10% of the entire issued share capital of IMS; and

 

		(ii)	IMS
                                            was, in turn, the legal and beneficial owner of 75.5% of the entire issued share capital
                                            of Httpool and Akuma Ventures Limited (“Akuma”)
                                            was the legal and beneficial owner of 24.5% of the entire issued share capital of Httpool.

 

     

     

    

 

		(C)	On
                                            8 July 2021, Aleph, Akuma Ventures Limited (“Akuma”),
                                            Aleph Cayman, IMS and Aleph Maradona LP (“CVC”)
                                            entered into a stock purchase agreement (as amended and restated on 28 July 2021) (the “CVC
                                            SPA”), pursuant to which (inter alia):

 

		(i)	Akuma
                                            agreed to exchange its existing shares in the share capital of Httpool for certain shares
                                            in the share capital of IMS;

 

		(ii)	CVC
                                            agreed to acquire certain shares in the share capital of IMS; and

 

		(iii)	the
                                            shareholders in IMS (including Akuma and CVC) then agreed to exchange all of their shares
                                            in the share capital of IMS for shares in the share capital of Aleph Cayman.

 

Completion of the
transactions contemplated by the CVC SPA occurred on 30 July 2021.

 

(D)       As
at the date of this Deed:

 

		(i)	Aleph
                                            is legal and beneficial owner of 48.91% of the entire issued share capital of Aleph Cayman,
                                            Akuma is the legal and beneficial owner of 22.16% of the entire issued share capital of Aleph
                                            Cayman, CVC is the legal and beneficial owner of 23.50% of the entire issued share capital
                                            of Aleph Cayman and Sony is the legal and beneficial owner of 5.43% of the entire issued
                                            share capital of Aleph Cayman;

 

		(ii)	Aleph
                                            Cayman is the legal and beneficial owner of the entire issued share capital of IMS; and

 

		(iii)	IMS
                                            is, in turn, the legal and beneficial owner of the entire issued share capital of Httpool.

 

		(E)	In
                                            order to reflect the completion of transactions contemplated by the CVC SPA and to facilitate
                                            completion of the SPA, the Parties wish for Aleph Cayman to adhere to the SPA and for the
                                            SPA to be amended and restated in the form set out in Schedule 1 (The Amended and Restated
                                            SPA) to this Deed.

 

It is agreed:

 

1.       Interpretation

 

1.1       In
this Deed (including the Recitals):

 

“Effective
Date” means the date of this Deed;

 

“Party”
means a party to this Deed, and “Parties”
shall mean the parties to this Deed;

 

“Transaction
Document” has the meaning given to it in the SPA.

 

1.2       Clauses
1.2 to 1.14 (Interpretation) of the SPA shall apply mutatis mutandis to this Deed.

 

2.       Adherence
to the SPA

 

With
effect from the Effective Date, Aleph Cayman undertakes to adhere to and be bound by the provisions of the SPA, and to perform the obligations
imposed on it by the SPA and to assume the rights and benefits conferred on it by the SPA.

 

3.       Amendment
and Restatement of the SPA

 

		3.1	With
                                            effect from the Effective Date, the Parties agree that the SPA shall be amended and restated
                                            in the form set out in the Schedule (The Amended and Restated SPA) so that the Parties’
                                            rights and obligations under it shall be read and construed for all purposes in accordance
                                            with the amended and restated terms and conditions as set out in such Schedule.

 

    2

     

    

 

		3.2	The
                                            amendment and restatement of the SPA pursuant to this Deed shall constitute a variation of
                                            the SPA in accordance with Clause 28 (Variations) of the SPA.

 

		3.3	Save
                                            as amended and restated in accordance with Clause 3.1 above, the SPA shall continue in full
                                            force and effect.

 

		3.4	With
                                            effect from the Effective Date, any reference in a Transaction Document to “the
                                            SPA” shall be read and construed as references
                                            to the SPA as amended and restated by this Deed. For the avoidance of doubt, references in
                                            the SPA to the “Signature Date”
                                            or the “date
                                            of this Agreement” shall be deemed to be references
                                            to 5 July 2021.

 

4.       Miscellaneous

 

Clause
18 (Confidentiality), Clause 19 (Announcements), Clause 20 (Further Assurance), Clause 21 (Effect of Completion),
Clause 22 (Assignment), Clause 24 (Costs and Expenses), Clause 25 (Notices), Clause 26 (Entire Agreement),
Clause 27 (Severance and Validity), Clause 28 (Variations), Clause 29 (Remedies and Waiver), Clause 30 (Third
Party Rights), Clause 31 (Counterparts) and Clause 33 (Governing Law and Submission to Jurisdiction) of the SPA shall
apply mutatis mutandis to this Deed.

 

Executed and delivered as a deed on
the date which first appears above.

 

    3

     

    

 

	Executed
    as a Deed by Aleph Group Inc.		 
	acting
    by                
      , a director, in	                              
	the
    presence of:	Director
	 	 
	                     	 	 
	Signature:	 	 
	 	 	 
	Name:
                         	 	 
	 	 	 
	Address:
                         	 	 
	 	 	 
	Occupation:
    Executive Assistant	 	 

 

[Signature Page
to the Deed of Adherence, Amendment and Restatement]

 

     

     

    

 

	Executed
    as a Deed by Aleph Internet Media		 
	Service
    LLC acting by            
    ,	                    
	a
    director, in the presence of:	Director
	 	 
	                    	 	 
	Signature:	 	 
	 	 	 
	Name:
                        	 	 
	 	 	 
	Address:
                        	 	 
	 	 	 
	Occupation:
    Executive Assistant	 	 

 

[Signature Page
to the Deed of Adherence, Amendment and Restatement]

 

     

     

    

 

	Executed
    as a Deed by A15 Holding		 
	Netherlands
    B.V. acting by                   ,	                    
	a
    director, in the presence of:	Director
	 	 
	                    	 	 
	Signature:	 	 
	 	 	 
	Name:
                        	 	 
	 	 	 
	Address:
                        	 	 
	 	 	 
	Occupation:
    Lawyer	 	 

 

[Signature Page
to the Deed of Adherence, Amendment and Restatement]

 

     

     

    

 

	Executed
    as a Deed by IMS Internet Media		 
	Services,
    Inc. acting by                       ,	                    
	a
    director, in the presence of:	Director
	 	 
	                    	 	 
	Signature:	 	 
	 	 	 
	Name:
                        	 	 
	 	 	 
	Address:
                        	 	 
	 	 	 
	Occupation:
    Executive Assistant	 	 

 

[Signature Page
to the Deed of Adherence, Amendment and Restatement]

 

     

     

    

 

	Executed
    as a Deed by Httpool Holdings UK		 
	Limited
    acting by            ,
    a	                    
	director,
    in the presence of:	Director
	 	 
	                    	 	 
	Signature:	 	 
	 	 	 
	Name:
                        	 	 
	 	 	 
	Address:
                        	 	 
	 	 	 
	Occupation:
    Executive Assistant	 	 

 

[Signature Page
to the Deed of Adherence, Amendment and Restatement]

 

     

     

    

 

                            

	Executed
    as a Deed by Connect Ads DMCC		                                  
	acting by                                         an
    authorised signatory by way attorney	                                  
	the presence of:	Authorised Signatory by way attorney
	 	 
	                                                                           	 	 
	Signature:	 	 
	 	 	 
	Name:                                                                                           	 	 
	 	 	 
	Address:                                                                                    	 	 
	 	 	 
	Occupation: Lawyer	 	 

 

[Signature Page to the Deed of Adherence, Amendment
and Restatement]

 

     

     

    

 

Schedule 1

 

The Amended and Restated SPA

 

    7 

     

    

 

Dated 5 July 2021

and as amended and restated pursuant to a deed
of adherence, amendment and

restatement dated 29 September 2021

 

Sale and Purchase Agreement

 

relating to the shares in Connect Ads DMCC

between

 

Aleph Internet Media Services LLC

 

A15 Holding Netherlands B.V.

 

IMS Internet Media Services, Inc.

 

Httpool Holdings UK Limited

 

Connect Ads DMCC

 

and

 

Aleph Group, Inc

 

    

     

    

 

	 	Table
    of Contents	 
	 	 	Page
	 	 	 
	1.	Interpretation	0
	2.	Sale and Purchase of the Sale Shares and the Swap Shares	20
	3.	Consideration for the Sale Shares and the Swap Shares	21
	4.	Pre-Completion Conditions	23
	5.	Pre-Completion Conduct of Business	26
	6.	Pre-Completion Arrangements	29
	7.	Completion	32
	8.	Post Completion Obligations 	33
	9.	A15 Warranties and Connect Ads Warranties	33
	10.	Httpool, IMS and Aleph Cayman Warranties	34
	11.	Indemnities	35
	12.	Leakage	36
	13.	Qualifying IPO	39
	14.	A15 Put Option and A15 Anti-Embarrassment Protection	39
	15.	Aleph Undertakings	41
	16.	Termination	41
	17.	Failure to Complete	42
	18.	Confidentiality	42
	19.	Announcements	43
	20.	Further Assurance	44
	21.	Effect of Completion	44
	22.	Assignment	44
	23.	Payment	44
	24.	Costs and Expenses	45
	25.	Notices	45
	26.	Entire Agreement	47
	27.	Severance and Validity	47
	28.	Variations	47
	29.	Remedies and Waiver	47
	30.	Third Party Rights	48
	31.	Counterparts	48
	32.	Standstill	48
	33.	Governing Law and Submission to Jurisdiction	49
	 	 	 
	Schedule 1 The Connect Ads Group	51
	Part 1	Details of Connect Ads	51
	Part 2	Details of the Connect Ads Subsidiaries	52

 

    i

     

    

 

	 	 	Page
	 	 	 
	Schedule 2	The IMS Group	55
	Part 1	Details of IMS	55
	Part 2	Details of the IMS Subsidiaries	56
	 	 	 
	Schedule 3	The Httpool Group	64
	Part 1	Details of Httpool	64
	Part 2	Details of Httpool Subsidiaries	65
	 	 	 
	Schedule 4	Pre-Completion Conditions	79
	Part 1	Non-Regulatory Pre-Completion Conditions	79
	Part 2	Regulatory Pre-Completion Conditions	80
	Part 3	DMCCA Pre-Completion Condition	80
	Part 4	No Injunction Pre-Completion Condition	80
	 	 	 
	Schedule 5	Completion Arrangements	81
	Part 1	A15’s Obligations	81
	Part 2	Aleph Cayman’s Obligations	83
	Part 3	Httpool’s Obligations	84
	Part 4	IMS’s Obligations	85
	 	 	 
	Schedule 6	Earn Outs	86
	 	Annex 1	Earn Out Amount 2 –
    Worked Examples	89
	 	 	 	 
	Schedule 7	A15 Put Option 	90
	 	Annex 1	Put Option –
    Second Anniversary – Worked Examples	99
	 	Annex 2	Form of Put Option
    Exercise Notice	100
	 	 	 	 
	Schedule 8	A15 Anti-Embarrassment Protection	101
	Part 1	IMS Acquisition - Anti-Embarrassment Protection	101
	 	Annex 1	IMS Acquisition
    - Anti-Embarrassment Protection – Worked	 
	 	 	Examples	106
	 	 	 
	Part 2	IMS Disposal - Anti-Embarrassment Protection	108
	 	Annex 1	IMS Disposal
    - Anti-Embarrassment Protection – Worked	 
	 	 	Examples	112
	 	 	 
	Schedule 9	A15 Warranties	113
	Schedule 10	Connect Ads Warranties	127
	Schedule 11	A15 Limitations of Liability	128
	Schedule 12	IMS Warranties	132
	Schedule 13	Aleph Cayman Warranties	146
	Schedule 14	Httpool Warranties	160
	Schedule 15	IMS and Aleph Cayman Limitations of
    Liability	161
	Schedule 16	IMS Tax Covenant	164
	Schedule 17	Connect Ads Tax Covenant	172
	Schedule 18	Connect Ads Outstanding Receivables	184
	Schedule 19	Specified Customers and Agencies	191
	Schedule 20	Joinder
    and Amendment Agreement to the Aleph Cayman Shareholders’ Agreement	192
	 	 	 	 	 

    (ii)

     

    

 

This Agreement
(this “Agreement”) is made on 5
July 2021 and amended and restated pursuant to a deed of adherence, amendment and restatement dated 29 September 2021

 

Between:

 

		(1)	Aleph
                                            Internet Media Services LLC, a limited liability company incorporated in the United States,
                                            with registered number L21000042376 and whose registered office is at                                                                                
                                             (“Aleph”),
                                            solely as a Party for the purposes of the Aleph Provisions and the Continuing Provisions;

 

		(2)	A15
                                            Holding Netherlands B.V., a company incorporated in the Netherlands, with registered
                                            number 63036673 and whose registered office is at                                                                                                      (“A15”),
                                            as seller of the Sale Shares and the Swap Shares;

 

		(3)	IMS
                                            Internet Media Services, Inc., a company incorporated in the United States, with registered
                                            number P05000006068 and whose registered office is at                                                                                                          
                                            (“IMS”);

 

		(4)	Httpool
                                            Holdings UK Limited, a company incorporated in the United Kingdom, with registered number
                                            10375627 and whose registered office is at                                                                        (“Httpool”),
                                            as purchaser of the Sale Shares;

 

		(5)	Connect
                                            Ads DMCC, a company incorporated in the Dubai Multi Commodities Centre, Dubai, UAE, with
                                            registered number DMCC91896 and whose registered office is at                                                                             
                                            (“Connect Ads”);
                                            and

 

		(6)	Aleph
                                            Group, Inc, an exempted company incorporated in the Cayman Islands, with registered number
                                            378353 and whose registered office is at the offices of                                                                                                                                                     
                                            , as purchaser of the Swap Shares (“Aleph
                                            Cayman”).

 

Whereas:

 

		(A)	A15
                                            has agreed to sell, and Httpool has agreed to purchase, the Sale Shares, on the terms and
                                            subject to the conditions of this Agreement.

 

		(B)	A15
                                            has further agreed to sell, and Aleph Cayman has agreed to purchase, the Swap Shares, on
                                            the terms and subject to the conditions of this Agreement.

 

		(C)	In
                                            consideration of receipt of the Swap Shares, Aleph Cayman has agreed to allot and issue to
                                            A15, the Consideration Shares.

 

It is agreed:

 

		1.	Interpretation

 

		1.1	In this Agreement (including
                                            the Recitals):

 

“A15’s
Designated Account” means the US$ denominated bank account of A15, details of which
shall be notified in writing by A15 to Httpool prior to Completion;

 

“A15
Disclosure Letter” means the letter dated the Signature Date from A15 to IMS and Httpool
containing A15’s disclosures against the A15 Warranties given at the Signature Date;

 

“A15
Fundamental Warranties” means any of the A15 Warranties set out in paragraphs 1, 2,
3, 4 and 20 of Schedule 9 (A15 Warranties);

 

    

     

    

 

“A15
Group” means A15, each of its Subsidiary Undertakings, any Parent Undertaking of A15
and all other Subsidiary Undertakings of any such Parent Undertaking from time to time (excluding each member of the Connect Ads Group);

 

“A15
Permitted Actions” means the incorporation of a wholly-owned subsidiary in Morocco beneath
Connect Ads;

 

“A15
Supplemental Disclosure Letter” means the letter from A15 to Aleph Cayman and Httpool
containing A15’s disclosures against the A15 Warranties given at Completion in respect of
matters arising between the Signature Date and the date of such letter;

 

“A15
Tax Warranties” means the warranties set out in paragraph 21 of Schedule 9 (A15 Warranties);

 

“A15
Warranties” means the warranties set out in Schedule 9 (A15 Warranties) and “A15
Warranty” shall mean any one of them;

 

“A15
Warranty Claim” means a Claim under the A15 Warranties (other than the A15 Fundamental
Warranties);

 

“A15’s
Lawyers” means White & Case LLP of Level 6, Burj Daman, Al Mustaqbal Street, Dubai
International Financial Centre, Dubai;

 

“AED”
means the lawful currency of the UAE, being the UAE dirham;

 

“Agents”
means, in relation to a person, that person’s directors,
officers, employees, advisers, agents and representatives;

 

“Agreed
Connect Ads/Httpool Leakage Amount” has the meaning given in Clause 12.4 (Leakage);

 

“Agreed
Connect Ads/IMS Leakage Amount” has the meaning given in Clause 12.5 (Leakage);

 

“Agreed
Form Connect Ads Shareholders’ Agreement” has
the meaning given in paragraph 4 of Part 1 (Non-Regulatory Pre-Completion Conditions) of Schedule 4 (Pre-Completion Conditions);

 

“Agreed
IMS Leakage Amount” has the meaning given in Clause 12.6 (Leakage);

 

“Akuma”
means Akuma Ventures Ltd;

 

“Akuma
Deed of Novation” means the Deed of Novation for First Amendment to Amended and Restated
Shareholders Agreement dated April 4, 2020, between IMS, Httpool Holdings Limited, Akuma, Aljosa Jenko, Timotej Gala, Davorin Strehar,
Digital Ventures Partners Inc., New Media Ventures Ltd., Toyi Ventures Ltd, Toboads Ltd. and Httpool dated December 15, 2020;

 

“Akuma
Flip-Up” means the issue of new ordinary shares in the share capital of IMS (and subsequent
exchange for new ordinary shares in the share capital of Aleph Cayman) to Akuma in consideration for shares held by Akuma in Httpool;

 

“Akuma
Outstanding Amount” means the EUR6,250,000 payable by IMS to Akuma pursuant to a share
purchase agreement dated April 4, 2020, between IMS and Httpool Holdings Limited;

 

“Aleph
Cayman Shareholders’ Agreement” means
the shareholders’ agreement dated July 30, 2021 between Aleph, Akuma, Sony, CVC and Aleph
Cayman;

 

    1

     

    

 

“Aleph
Cayman Warranties” means the warranties set out in Schedule 13 (Aleph Cayman Warranties),
and “Aleph Cayman Warranty” shall mean
any one of them;

 

“Aleph
Group” means Aleph, each of its Subsidiary Undertakings, any Parent Undertaking of Aleph
and all other Subsidiary Undertakings of any such Parent Undertaking from time to time (excluding each member of the Connect Ads Group
and the IMS Group);

 

“Aleph
Provisions” means Clause 3.2(c) (Swap Shares Consideration), Clause 13 (Qualifying
IPO), Clause 15 (Aleph Undertakings), Clause 17 (Failure to Complete), Schedule 7 (A15 Put Option) and Schedule
8 (Anti-Embarrassment Protection);

 

“Anti-Bribery
Laws” means, in each case, to the extent that they have been applicable to a Connect
Ads Group Company, a member of the A15 Group, an IMS Group Company or a member of the Aleph Group (as the case may be) at any time prior
to the Signature Date: (a) the UK Bribery Act 2010; (b) the U.S. Foreign Corrupt Practices Act of 1977 (as amended); (c) any applicable
law, rule, or regulation promulgated to implement the OECD Convention on Combating Bribery of Foreign Public Officials in International
Business Transactions, signed on December 17, 1997; and (d) any other applicable law, rule or regulation of similar purpose and scope
in any jurisdiction, including books and records offences relating directly or indirectly to a bribe;

 

“Applicable
Connect Ads Territories” means Egypt, Morocco, Tunisia, Algeria, Lebanon, Jordan, Saudi
Arabia, Kuwait, Qatar, Bahrain, Oman, Pakistan, and Turkey;

 

“Applicable
IMS Territories” means Argentina, Colombia, Chile, Brazil, Mexico, Panama, Peru, Ecuador,
Spain, England, Portugal, Uruguay, Costa Rica, Rep. Dominican, Greece, Croatia, Slovenia, Slovakia, Romania, Bulgaria, Austria, Switzerland,
Hungary, Czech Republic, Poland, Kosovo, Ukraine, Russia, Serbia, Lithuania, Latvia, Estonia, Denmark, Norway, Sweden, Finland, India,
Belarus, Kazakhstan, Macedonia, Singapore, Myanmar, Bangladesh, Sri Lanka, Indonesia, Malaysia, Cambodia, Laos and Hong Kong;

 

“Benefit
Plan” means any pension, profit-sharing, savings, retirement, executive compensation,
incentive compensation, bonus, share option, phantom share or other equity-based compensation, vacation, sick leave, disability, death
benefit, group insurance, hospitalization, medical, dental, life (including all individual life insurance policies as to which any Connect
Ads Group Company or IMS Group Company (as applicable) is the owner, the beneficiary or both), employee loan, educational assistance
program, policy, practice, agreement or arrangement, whether written or oral, formal or informal;

 

“Business
Day” means a day (other than a Friday, Saturday, Sunday or a public holiday) when commercial
banks are open for ordinary banking business in Dubai (UAE), George Town (the Cayman Islands), Amsterdam (the Netherlands), Miami (United
States) and London (United Kingdom);

 

“Capital
Expenditure” means any expenditure or obligation in respect of cash expenditure which,
in accordance with IFRS, is treated as capital expenditure (including the capital element of any expenditure or obligation incurred in
connection with a capitalized finance lease obligation), and only taking into account the actual cash payment made where assets are replaced
and part of the purchase price is paid by way of part exchange;

 

“Cash
Consideration” means US$52,722,883;

 

“Cash
Consideration Escrow Account” means the US$ denominated account in the name of A15 and/or
Httpool with the Escrow Agent pursuant to the Escrow Agreement for the purposes of the deposit of the Cash Consideration;

 

“Citi
Consent and Waiver” means the written waiver and consent from Citibank, N.A. pursuant
to which Citibank, N.A. irrevocably: (a) consents to the acquisition of: (i) the Sale Shares by Httpool and (ii) the Swap Shares
by Aleph Cayman, as required by clause 11(j) of the Citi ULCA; and (b) waives any right that it has to object to the Latam Reorganization
pursuant to clause 7(a) of the Citi Security Agreement;

 

    2

     

    

 

“Citi
Grantors” means IMS, IMM Internet Media Mexico, S. de R.L. de C.V., Personal Corp. IMM
Mexico, S. de R.L. de C.V., IMS Chile SpA, IMS Media, LLC, IMS Internet Media Services Panama, S. De R.L., IMS-Internet Media Services
Ecuador S.A., Radobel S.A., Internet Media Services Colombia S.A.S., 10 Midia Publicidade e Propaganda Ltda., Blue Sky Servicos de Publicidade
Ltda, IMS-Brasil Marketing e Publicidade Ltda, IMS Argentina S.R.L., and “Citi Grantor”
shall be construed accordingly;

 

“Citi
Notification” means the written notification from IMS to Citibank, N.A. pursuant to
which IMS on behalf of itself and each other Citi Grantor gives written notice to Citibank, N.A. of the Transaction at least thirty (30)
days’ prior to Completion as required by clause 7(a) of the Citi Security Agreement;

 

“Citi
Security Agreement” means the security agreement between Latam, the Citi Grantors and
Citibank, N.A., dated November 26, 2019;

 

“Citi
ULCA” means the first amended and restated uncommitted line of credit between IMS and
Citibank, N.A., dated November 19, 2020;

 

“Claim”
means any claim against a Party arising out of or in connection with this Agreement, and “Claims”
shall mean all such claims;

 

“Commercial
Registration” means the issuance by the DMCCA of each of the documents referred to in
Clause 8 (Post Completion Obligations);

 

“Completion”
means the completion of the sale and purchase of the Sale Shares and the Swap Shares, and the allotment
and issuance of the Consideration Shares under this Agreement;

 

“Completion
Date” means:

 

		(a)	the
                                            date falling eight (8) Business Days after the day on which the last of the Pre-Completion
                                            Conditions has been satisfied or waived in accordance with this Agreement; or

 

		(b)	such
                                            other date as may be agreed in writing by the Parties;

 

“Connect
Ads Auditors” means Grant Thornton in respect of each member of the Connect Ads Group,
save for:

 

		(a)	Techno
                                            Dev LLC, in respect of which the auditor is Ashraf Abdel Ghani Accountants & Tax
                                            Consultants – ATC;

 

		(b)	4G
                                            for Advanced Technology LLC, in respect of which the auditor is Ashraf Abdel Ghani Accountants
                                            & Tax Consultants – ATC; and

 

		(c)	Connect
                                            Ads Italy S.r.l, in respect of which the auditor for FY2020 is a third party whose work is
                                            reviewed by Grant Thornton, with Grant Thornton serving as the auditor from FY2021 onwards;

 

“Connect
Ads Benefit Plan” means any Benefit Plan: (a) under which any current or former Connect
Ads Worker has any present or future right to benefits and that is maintained, sponsored or contributed to by a Connect Ads Group Company;
or (b) with respect to which a Connect Ads Group Company has any liability, including any Connect Ads Disclosed Plans;

 

“Connect
Ads Business” means the business of the Connect Ads Group comprising digital media representation
business, programmatic media advertising business and digital advertising sales business in, based on or through social media
platforms and websites, application programming interface (or API) or other platforms and/or websites, including but not limited to,
digital, audio and visual platforms and or websites in MENA, Turkey, Pakistan and Italy as conducted by it at the Signature Date;

 

    3

     

    

 

“Connect
Ads Business Intellectual Property” means the Intellectual Property owned by the Connect
Ads Group Companies and used or held for use for the purposes of the Connect Ads Business and required in all material respects to conduct
the Connect Ads Business;

 

“Connect
Ads Contract” has the meaning given in paragraph 1.1 of Schedule 6 (Earn Outs);

 

“Connect
Ads Data Room” means the virtual data room comprising copies of documents and other
information relating to the Connect Ads Business and the Connect Ads Group Companies made available to IMS and Httpool at https://americas.datasite.com/manda/project/5f5133861cacdd062ec5522d/content/5f5133bb4bd4e009c41e85de?mode=default&activeProjectId=5f5133861cacdd062ec5522d
a copy of which is contained on the Connect Ads Data Room USB Drive;

 

“Connect
Ads Data Room USB Drive” means the USB drive containing a copy of the Connect Ads Data
Room to be delivered by A15 to IMS and Httpool as soon as reasonably practicable after the Signature Date;

 

“Connect
Ads Disclosed Plans” has the meaning given in paragraph 26 of Schedule 9 (A15 Warranties);

 

“Connect
Ads Egypt” means Connect Ads for Advertising and Programming S.A.E.;

 

“Connect
Ads Final 2018 Outstanding Receivables” means the amount, in US$, equal to the aggregate
amount of the Connect Ads Preliminary 2018 Outstanding Receivables which remain outstanding and uncollected as at the commencement of
business on the first (1st) anniversary of the Completion Date;

 

“Connect
Ads Final 2019 Outstanding Receivables” means the amount, in US$, equal to the aggregate
amount of the Connect Ads Preliminary 2019 Outstanding Receivables which remain outstanding and uncollected as at the commencement of
business on the first (1st) anniversary of the Completion Date;

 

“Connect
Ads Group” means Connect Ads and the Connect Ads Subsidiary Undertakings, and “Connect
Ads Group Company” shall be construed accordingly;

 

“Connect
Ads Incoming Licenses” has the meaning given in paragraph 22.9 of Schedule 9 (A15
Warranties);

 

“Connect
Ads IT Contracts” means any material written agreements, arrangements or licenses relating
to the Connect Ads IT Systems, including all hire purchase contracts or leases of hardware owned or used by a Connect Ads Group Company
and licenses of software owned or used by a Connect Ads Group Company for the purposes of the Connect Ads Business (but excluding any
shrink-wrapped, click-wrapped or other software commercially available off the shelf) and which are required, in all material respects,
to conduct the Connect Ads Business;

 

“Connect
Ads IT Systems” means computer hardware and software (excluding shrink-wrapped, click-wrapped
or other software commercially available off the shelf) which, in each case, is owned by a Connect Ads Group Company and used or held
for use for the purposes of the Connect Ads Business and required, in all material respects, to conduct the Connect Ads Business;

 

“Connect Ads Italy”
means Connect Ads Italy S.r.l;

 

    4

     

    

 

“Connect Ads Key
Manager” means the CEO; VP Commercial; VP Technical Operations; VP Finance; VP Human Capital; Twitter Product Director; Non-Twitter
Sales Director GCC, Kuwait & Pakistan; General Counsel; CEO Turkey; and VP Organization Development;

 

“Connect Ads Leakage”
means, in each case, (a) by any member of the Connect Ads Group to, on behalf of or for the benefit of A15 or its Connected Persons (excluding,
for the avoidance of doubt, any member of the Connect Ads Group); and (b) during the period from (but excluding) the Connect Ads Locked-Box
Date to (and including) the Completion Date:

 

	 	(a)	any:

 

		(i)	dividend
                                            or distribution (whether in cash or in kind) or any payments in lieu of any dividend or distribution,
                                            declared, paid or made;

 

		(ii)	redemption,
                                            repurchase, repayment or return of shares or other securities, or return of capital (whether
                                            by reduction of capital or otherwise and whether in cash or in kind);

 

		(iii)	payment
                                            of any consultant, advisory, management, monitoring, service, shareholder, director or other
                                            fees, costs, charges, expenses, royalty payments, interest payments, loan payments, bonuses
                                            or compensation of a similar nature in connection with the Transactions;

 

		(iv)	payment
                                            of any external third-party or transaction fees of any kind;

 

		(v)	payment
                                            or incurrence of liability for any fees, costs or expenses in connection with the Transactions
                                            (including professional advisers’ fees, consultancy fees, transaction bonuses, finders’
                                            fees and brokers’ fees or similar commissions);

 

		(vi)	waiver,
                                            discount, deferral, release or forgiveness of any amount owed to a Connect Ads Group Company
                                            or release of any obligation;

 

		(vii)	assumption
                                            or incurrence of any liability or obligation (including the provision of any guarantee or
                                            indemnity or the creation of any Encumbrance); and

 

		(viii)	transfer
                                            or surrender of assets, rights or other benefits, including waiver, discount, deferral, release
                                            or discharge of any amount, obligation or liability; or any claim (howsoever arising);

 

	 	(b)	the entry into of any agreement to enter into or
                                            carry out any of the actions or transactions referred to in paragraph (a) above; and

 

	 	(c)	any Tax becoming payable at any time by any Connect
                                            Ads Group Company as a consequence of any of the matters referred to above, or which would
                                            have become payable in the absence of any applicable relief,

 

but, in each case, not
including any Connect Ads Permitted Leakage;

 

“Connect Ads Licenses”
has the meaning given in paragraph 10.1 of Schedule 9 (A15 Warranties);

 

“Connect Ads Locked-Box
Accounts” means the audited financial statements of Connect Ads and each member of the Connect Ads Group and the audited consolidated
financial statements of the Connect Ads Group for the accounting reference period ended on the Connect Ads Locked-Box Date, such financial
statements comprising, in each case, a balance sheet, profit and loss account and cash flow statement;

 

“Connect Ads Locked-Box
Date” means December 31, 2019;

 

    5

     

    

 

“Connect Ads Management
Accounts” means the unaudited balance sheet of each Connect Ads Group Company as at the Connect Ads Management Accounts Date
and the unaudited profit and loss account of each Connect Ads Group Company for the period ended on such date;

 

“Connect Ads Management
Accounts Date” means April 30, 2021;

 

“Connect Ads Material
Contract” has the meaning given in paragraph 5.1 of Schedule 9 (A15 Warranties);

 

“Connect Ads Outgoing
Licenses” has the meaning given in paragraph 22.10 of Schedule 9 (A15 Warranties);

 

“Connect Ads Outstanding
Receivables” means the Connect Ads Preliminary 2018 Outstanding Receivables and the Connect Ads Preliminary 2019 Outstanding
Receivables;

 

“Connect
Ads Permitted Dividends” means:

 

		(a)	the
                                            dividend of US$2,000,000 which was declared and paid by Connect Ads on January 19, 2020

 

		(b)	the
                                            dividend of US$110,339 which was declared and paid by Connect Ads on October 21, 2020;

 

		(c)	the
                                            dividend in the aggregate amount of US$13,082,691 declared by Connect Ads on 16 July 2021,
                                            US$5,000,000 of which was paid by Connect Ads to A15 immediately following such declaration;
                                            and US$8,082,691 was left outstanding; and

 

		(d)	the
                                            dividend in the aggregate amount of US$963,801 to be declared by Connect Ads prior to Completion;

 

“Connect
Ads Permitted Leakage” means:

 

		(a)	the
                                            Connect Ads Permitted Dividends;

 

		(b)	the
                                            amount of US$288,948 in aggregate owed by A15 to Connect Ads Egypt; and

 

		(c)	any
                                            Tax becoming payable at any time by any Connect Ads Group Company as a consequence of any
                                            of the matters referred to above;

 

“Connect Ads Preliminary
2018 Outstanding Receivables” means US$2,415,739, representing the aggregate amount of the receivables of Connect Ads listed
in Part 1 of Schedule 18 (Connect Ads Outstanding Receivables);

 

“Connect Ads Preliminary
2019 Outstanding Receivables” means US$261,678, representing the aggregate amount of the receivables of Connect Ads listed
in Part 2 of Schedule 18 (Connect Ads Outstanding Receivables);

 

“Connect Ads Properties”
means the land and premises currently used or occupied by the Connect Ads Group for the purposes of the Connect Ads Business, certain
details of which are set out in a table provided in Section 3.5.1 of the Connect Ads Data Room;

 

“Connect Ads Registered
Intellectual Property” means patents, registered trademarks and service marks, registered designs, domain name registrations
(and applications for any of the same), owned, used or held for use by a Connect Ads Group Company;

 

“Connect Ads Shareholders’
Agreement” means the shareholders’ agreement in respect of Connect Ads to be entered into at Completion between A15,
Aleph Cayman, Httpool and Connect Ads, in the agreed terms;

 

    6

     

    

 

“Connect Ads Subsidiary
Undertakings” means all Subsidiary Undertakings of Connect Ads, and “Connect Ads Subsidiary Undertaking”
shall be construed accordingly;

 

“Connect Ads Tax
Claim” means a claim under the Connect Ads Tax Covenant or the A15 Tax Warranties;

 

“Connect Ads Tax
Covenant” means the tax covenant set out in Schedule 17 (Connect Ads Tax Covenant);

 

“Connect Ads Territory”
means any country or territory or possession thereof in which any Connect Ads Group Company does business at the Signature Date;

 

“Connect Ads Warranties”
means the warranties set out in Schedule 10 (Connect Ads Warranties), and “Connect Ads Warranty” shall mean
any one of them;

 

“Connect Ads Workers”
means any employees, directors, officers, workers and self-employed contractors of the Connect Ads Group;

 

“Connected Person”
means, in relation to an Undertaking:

 

		(a)	any
                                            other person who has Control of that Undertaking (a “Controlling Person”);

 

		(b)	any
                                            Controlling Person’s own spouse or civil partner, parents and siblings (including step-siblings
                                            and half-siblings), linear ancestors and direct descendants, including adopted children,
                                            of that Controlling Person and of other such persons and their respective spouses or civil
                                            partners, parents and siblings (including step-siblings and half-siblings), linear ancestors
                                            and direct descendants, including adopted children (together, the “Controlling Person’s
                                            Family”);

 

		(c)	any
                                            trust established by or for the benefit of a Controlling Person or a member of a Controlling
                                            Person’s Family;

 

		(d)	any
                                            Undertaking in whose equity shares or partnership interests a Controlling Person and/or one
                                            or more members of a Controlling Person’s Family are, taken together, able to exercise
                                            or control the exercise of at least twenty per cent. (20%) of the votes able to be cast at
                                            general meetings, or to appoint or remove directors or equivalent officers holding a majority
                                            of voting rights at meetings of the board or equivalent management body, in each case on
                                            all, or substantially all, matters;

 

		(e)	any
                                            Undertaking whose directors or equivalent officers are accustomed to act in accordance with
                                            the directions or instructions of a Controlling Person and/or any one or more members of
                                            a Controlling Person’s Family;

 

		(f)	any
                                            Undertaking (other than any Connect Ads Group Company or IMS Group Company, as applicable)
                                            of which a Controlling Person or a member of a Controlling Person’s Family is a director
                                            or equivalent officer; and

 

		(g)	any
                                            nominee, trustee or agent or any other person acting on behalf of any person referred to
                                            in this definition;

 

“Consideration”
means an amount equal to the sum of the Sale Share Consideration and the Consideration Shares Value;

 

“Consideration
Shares” means newly issued ordinary shares in the share capital of Aleph Cayman in aggregate representing the Consideration
Shares Percentage of the entire issued share capital of Aleph Cayman on a Fully-Diluted Basis immediately following Completion and the
issuance of shares in Aleph Cayman to CVC in accordance with Clause 3.2(d);

 

    7

     

    

 

“Consideration
Shares Percentage” means 4.41% as may be reduced in accordance with Clause 3.2(e);

 

“Consideration
Shares Value” means US$14,067,556.51;

 

“Continuing Provisions”
means Clause 1 (Interpretation), Clause 17 (Failure to Complete) Clause 18 (Confidentiality), Clause 19 (Announcements),
Clause 22 (Assignment), Clause 24 (Costs and Expenses), Clause 25 (Notices), Clause 26 (Entire Agreement),
Clause 27 (Severance and Validity), Clause 28 (Variations), Clause 29 (Remedies and Waiver), Clause 30 (Third
Party Rights), Clause 31 (Counterparts), Clause 32 (Standstill) and Clause 33 (Governing Law and Submission to Jurisdiction),
all of which shall continue to apply after the termination of this Agreement without limit in time;

 

“Contract”
means any written or oral contract, agreement, lease, license, instrument, note, evidence of indebtedness or other legally binding commitment
or undertaking;

 

“CVC”
means Aleph Maradona LP, a limited partnership organized and existing under the Laws of Delaware;

 

“CVC Completion
Date” means 30 July 2021;

 

“CVC Escrow Amount”
has the meaning given in Clause 3.4 (Deferred Consideration);

 

“CVC SPA”
means the stock purchase agreement, dated 8 July 2021, between Aleph, Akuma, Aleph Cayman, IMS and CVC, as amended and restated on 28
July 2021;

 

“CVC Transaction”
means the transactions expressly provided for in the CVC SPA;

 

“Defaulting Party”
has the meaning given in Clause 7.3 (Completion);

 

“Deferred Consideration”
has the meaning given in Clause 3.4 (Deferred Consideration);

 

“Disclosed”
means fairly disclosed in the Connect Ads Data Room or in the IMS Data Room, or in the A15 Disclosure Letter, the A15 Supplemental Disclosure
Letter, the IMS Disclosure Letter, or the IMS Supplemental Disclosure Letter in sufficient detail to enable A15, Aleph Cayman, IMS or
Httpool (as appropriate) to understand the nature and scope of the relevant matter;

 

“Dispute”
has the meaning given in Clause 33.2 (Governing Law and Submission to Jurisdiction);

 

“Dispute Notice”
has the meaning given in Clause 33.2 (Governing Law and Submission to Jurisdiction);

 

“DMCC”
means Dubai Multi Commodities Centre;

 

“DMCCA”
means Dubai Multi Commodities Centre Authority;

 

“DMCCA Pre-Completion
Condition” means the Pre-Completion Condition set out in paragraph 1 of Part 3 of Schedule 4 (Pre-Completion Conditions);

 

“Earn Out 1 Period”
has the meaning given in paragraph 1.1 of Schedule 6 (Earn Outs);

 

“Earn Out 1 Statement”
has the meaning given in paragraph 1.2 of Schedule 6 (Earn Outs);

 

“Earn Out 2 Period”
has the meaning given in paragraph 2.1 of Schedule 6 (Earn Outs);

 

“Earn Out 2 Statement”
has the meaning given in paragraph 2.2 of Schedule 6 (Earn Outs);

 

“Earn Out Amount
1” has the meaning given in paragraph 1.1 of Schedule 6 (Earn Outs);

 

    8

     

    

 

“Earn Out Amount
2” has the meaning given in paragraph 2.1 of Schedule 6 (Earn Outs);

 

“Egyptian Competition
Filing” means the regulatory filing referred to in Clause 8.1 (Post Completion Obligations);

 

“Egyptian Competition
Law” means the Egyptian Law for the Protection of Competition and Combatting Monopolistic Practices, Law No. 3 of 2005, as
amended;

 

“Encumbrance”
means any pledge, charge, lien (other than a lien arising by operation of Law), mortgage, debenture, hypothecation, security interest,
pre-emption right or option;

 

“Environment”
means all or any of the following media (alone or in combination): air (including the air within buildings and the air within other natural
or manmade structures whether above or below ground); water (including water under or within land or in drains or sewers); soil and land
and any ecological systems and living organisms supported by these media;

 

“Environmental
Law” means any Law whose purpose is to protect, or prevent pollution of, the Environment or to regulate emissions, discharges
or releases of Hazardous Substances into the Environment, or to regulate the use, treatment, storage, burial, disposal, transport or
handling of Hazardous Substances, and all by-laws, codes, regulations with any of therein, decrees or orders issued or promulgated or
approved under or in connection with any of them;

 

“Environmental
Proceedings” means proceedings arising out of or based upon violations or breaches of Environmental Laws;

 

“Escrow Account
1” means the US$ denominated account in the name of A15 and/or Httpool with the Escrow Agent pursuant to the Escrow Agreement
for the purposes of the deposit of Escrow Amount 1;

 

“Escrow Account
2” means the US$ denominated account in the name of A15 and/or Httpool with the Escrow Agent pursuant to the Escrow Agreement
for the purposes of the deposit of Escrow Amount 2;

 

“Escrow Accounts”
means Escrow Account 1, Escrow Account 2 and the Cash Consideration Escrow Account;

 

“Escrow Agent”
means Citibank, New York branch;

 

“Escrow Agreement”
means the escrow agreement to be entered into by A15, Httpool and the Escrow Agent prior to Completion, in the agreed terms;

 

“Escrow Amount
1” means US$1,110, 410;

 

“Escrow Amount
2” means US$3,740,500;

 

“Escrow Amount
3” means US$5,000,000;

 

“Excess Cash”
means the cash held by Connect Ads at the end of each month minus the average of the last twelve months of working capital, excluding
funds otherwise committed (including, any cash held in respect of securing rent deposits, in respect of employee withholding taxes or
any other cash held as collateral in respect of obligations of any party);

 

“Exclusivity Period”
means the period commencing on the Signature Date and ending on the earlier of Completion or the termination of this Agreement in accordance
with Clause 16.1;

 

“Expert”
has the meaning given in paragraph 3.1 of Schedule 7 (A15 Put Option);

 

“First Long Stop
Date” means the date falling sixty (60) days after the Restatement Date, or such other date as Parties agree in writing;

 

    9

     

    

 

“Fully-Diluted
Basis” means the total of all classes and series of shares outstanding on a particular date, combined with all options (whether
granted, vested or exercised or not), warrants (whether exercised or not), LTIPs (long term incentive plans) and convertible securities
of all kinds, all on an “as if converted” basis. For the purpose of this Agreement, “as if converted” basis shall
mean as if such option, warrant or security had been converted into equity shares of the relevant person in accordance with their terms;

 

“Fundamental Warranties”
means the A15 Fundamental Warranties, the Connect Ads Fundamental Warranties, the Httpool Warranties and the IMS Fundamental Warranties;

 

“GDPR”
has the meaning given in Clause 11.1 (Indemnities);

 

“Google Non-Recurring
Non-Cash Event” means the non-payment by Google LLC to IMS of certain commission due in respect of Waze amounting to US$530,000
that was recorded by IMS as a loss in 2020 pursuant to the terms of a settlement and release agreement between Google LLC and IMS dated
1 September 2020;

 

“Government Official”
means: (a) any officer, director, employee, appointee or official representative of a Governmental Authority or of a public international
organization; (b) any political party or party official; and (c) any candidate for political or judicial office;

 

“Governmental
Authority” means: (a) any international, national, state, city or local governmental authority; (b) any commission, organization,
agency, department, board, bureau or instrumentality of any of the foregoing governmental authorities (and “instrumentality of
government of any of the foregoing governmental authorities” includes any entity owned or controlled by such governmental authorities);
(c) any stock exchange or similar self-regulatory or quasi-governmental agency; and (d) any court, arbitrator, arbitral body or other
tribunal having jurisdiction;

 

“Hazardous Substances”
means any wastes, pollutants, contaminants and any other natural or artificial substance (whether in the form of a solid, liquid, gas
or vapor) which is capable of causing harm or damage to the Environment or a nuisance to any person;

 

“Httpool’s
Designated Account” means the US$ denominated bank account of Httpool, details of which shall be notified in writing by Httpool
to A15 prior to Completion;

 

“Httpool Group”
means Httpool and each of its Subsidiary Undertakings;

 

“Httpool Warranties”
means the warranties set out in Schedule 14 (Httpool Warranties), and “Httpool Warranty” shall mean any one
(1) of them;

 

“Httpool’s
Lawyers” means Brabners, Fifth Floor, 55 King Street, Manchester M2 4LQ, United Kingdom, who for purposes of this definition
shall also be considered counsel for IMS;

 

“IFRS”
means International Financial Reporting Standards, as adopted by the European Union, in effect on the relevant dates thereof;

 

“IMS Acquisition”
has the meaning given in paragraph 1.1, Part 1 of Schedule 8 (A15 Anti-Embarrassment Protection);

 

“IMS Audited Accounts”
means the audited financial statements of IMS and each member of the IMS Group and the audited consolidated financial statements of the
IMS Group for the accounting reference period ended on the IMS Locked-Box Date, together with, in each case, the auditors’ and
directors’ reports and the notes to the audited financial statements, such financial statements comprising, in each case, a balance
sheet, profit and loss account and cash flow statement;

 

“IMS Business”
means the business of the IMS Group comprising digital media representation business, programmatic media advertising business and advertising
sales business in, based on or through social media platforms, application programming interface (or API) or other platforms that compete
with social media platforms in Latin America, Europe and Asia as conducted by it at the Signature Date;

 

    10

     

    

 

“IMS Business
Intellectual Property” means the Intellectual Property owned by the IMS Group Companies and used or held for use for the purposes
of the IMS Business and required in all material respects to conduct the IMS Business;

 

“IMS Data Room”
means the virtual data room comprising copies of documents and other information relating to the IMS Business and the IMS Group Companies
made available to A15 at https://americas.datasite.com/manda/project/5f5133861cacdd062ec5522d/content/index?mod e=index a copy
of which is contained on the IMS Data Room USB Drive;

 

“IMS Data Room
USB Drive” means the USB drive containing a copy of the IMS Data Room to be delivered by IMS to A15 as soon as reasonably practicable
after the Signature Date;

 

“IMS Disclosed
Plans” has the meaning given in paragraph 25 of Schedule 12 (IMS Warranties);

 

“IMS Disclosure
Letter” means the letter dated the Signature Date from IMS to A15 containing IMS’s disclosures in connection with this
Agreement given at the Signature Date;

 

“IMS Disposal”
has the meaning given in paragraph 1.1, Part 2 of Schedule 8 (A15 Anti-Embarrassment Protection);

 

“IMS Fundamental
Warranties” means the warranties set out in paragraphs 1 to 3 of Schedule 12 (IMS Warranties) and the warranties set
out in paragraphs 1 to 4 of Schedule 13 (Aleph Cayman Warranties);

 

“IMS Group”
means:

 

		(a)	in
                                            respect of any time prior to the CVC Completion Date, IMS and the IMS Subsidiary Undertakings;
                                            and

 

		(b)	in
                                            respect of any time on or after the CVC Completion Date, Aleph Cayman and the IMS Subsidiary
                                            Undertakings,

 

and “IMS Group
Company” shall be construed accordingly;

 

“IMS Incoming
Licenses” has the meaning given in paragraph 21.9 of Schedule 12 (IMS Warranties);

 

“IMS IT Contracts”
means any material written agreements, arrangements or licenses relating to the IMS IT Systems, including all hire purchase contracts
or leases of hardware owned or used by an IMS Group Company and licenses of software owned or used by an IMS Group Company for the purposes
of the IMS Business (but excluding any shrink-wrapped, click-wrapped or other software commercially available off the shelf) and which
are required, in all material respects, to conduct the IMS Business;

 

“IMS IT Systems”
means computer hardware and software (excluding shrink-wrapped, click-wrapped or other software commercially available off the shelf)
which, in each case, is owned by an IMS Group Company and used or held for use for the purposes of the IMS Business and required, in
all material respects, to conduct the IMS Business;

 

“IMS Key Manager”
means any employee of the IMS Group (a) whose annual salary is in excess of US$100,000 (or equivalent in the relevant local currency);
or (b) who holds a C-suite position within the IMS Group;

 

    11

     

    

 

“IMS Leakage”
means in each case (a) by any member of the IMS Group to, on behalf of or for the benefit of Aleph, Akuma, CVC or any of their respective
Connected Persons (excluding, for the avoidance of doubt, any member of the IMS Group); and (b) during the period from (but excluding)
the IMS Locked-Box Date to (and including) the Completion Date:

 

		(a)	any:

 

		(i)	dividend
                                            or distribution (whether in cash or in kind) or any payments in lieu of any dividend or distribution,
                                            declared, paid or made;

 

		(ii)	redemption,
                                            repurchase, repayment or return of shares or other securities, or return of capital (whether
                                            by reduction of capital or otherwise and whether in cash or in kind);

 

		(iii)	payment
                                            of any consultant, advisory, management, monitoring, service, shareholder, director or other
                                            fees, costs, charges, expenses, royalty payments, interest payments, loan payments, bonuses
                                            or compensation of a similar nature in connection with the Transactions;

 

		(iv)	payment
                                            of any external third-party or transaction fees of any kind;

 

		(v)	payment
                                            or incurrence of liability for any fees, costs or expenses in connection with the Transactions
                                            (including professional advisers’ fees, consultancy fees, consultancy fees, transaction
                                            bonuses, finders’ fees and brokers’ fees or similar commissions);

 

		(vi)	waiver,
                                            discount, deferral, release or forgiveness of any amount owed to an IMS Group Company or
                                            release of any obligation;

 

		(vii)	assumption
                                            or incurrence of any liability or obligation (including the provision of any guarantee or
                                            indemnity or the creation of any Encumbrance); and

 

		(viii)	transfer
                                            or surrender of assets, rights or other benefits, including waiver, discount, deferral, release
                                            or discharge of any amount, obligation or liability; or any claim (howsoever arising);

 

		(b)	the
                                            entry into of any agreement to enter into or carry out any of the actions or transactions
                                            referred to in paragraph (a) above; and

 

		(c)	any
                                            Tax becoming payable at any time by any IMS Group Company as a consequence of any of the
                                            matters referred to above, or which would have become payable in the absence of any applicable
                                            relief,

 

but, in each case, not
including any IMS Permitted Leakage;

 

“IMS Leased Properties”
means the leased land and premises currently used or occupied by the IMS Group for the purposes of the IMS Business, certain details
of which are set out in a table provided in Section 4 of the IMS Data Room;

 

“IMS Locked-Box
Accounts” means the audited financial statements of IMS and each member of the IMS Group and the audited consolidated financial
statements of the IMS Group for the accounting reference period ended on the IMS Locked-Box Date audited by BDO, such financial statements
comprising, in each case, a balance sheet, profit and loss account and cash flow statement;

 

“IMS Locked-Box
Date” means December 31, 2020;

 

    12

     

    

 

“IMS Management
Accounts” means the unaudited balance sheet of each IMS Group Company as at the IMS Management Accounts Date and the unaudited
profit and loss account of each IMS Group Company for the period ended on such date;

 

“IMS Management
Accounts Date” means 30 April 2021;

 

“IMS Material
Contract” has the meaning given in paragraph 4.1 of Schedule 12 (IMS Warranties);

 

“IMS Outgoing
Licenses” has the meaning given in paragraph 21.10 of Schedule 12 (IMS Warranties);

 

“IMS Permitted
Actions” means:

 

		(a)	subject
                                            to Clause 13 (Qualifying IPO), a Qualifying IPO;

 

		(b)	any
                                            actions expressly provided for in the CVC SPA;

 

		(c)	the
                                            allotment and issuance by Aleph Cayman to Imran Khan, immediately prior to a Qualifying IPO,
                                            of new ordinary shares in the share capital of Aleph Cayman representing, in aggregate, up
                                            to 0.75% of the entire issued share capital of Aleph Cayman;

 

		(d)	the
                                            transfer by Aleph to Mercado Libre (MELI) of existing ordinary shares in the share capital
                                            of Aleph Cayman representing, in aggregate, up to 1.25% of the entire issued share capital
                                            of Aleph Cayman;

 

		(e)	the
                                            allotment and issuance by Aleph Cayman to CVC, at Completion, of new ordinary shares in the
                                            share capital of Aleph Cayman in accordance with Clause 3.2(d);

 

		(f)	the
                                            allotment and issuance by Aleph Cayman to CVC, at any time prior to Completion, of new ordinary
                                            shares in the share capital of Aleph Cayman in accordance with Clause 3.2(e);

 

		(g)	the
                                            consolidation or redemption of the existing ordinary shares in the share capital of Aleph
                                            Cayman, in each case, on a pro rata basis amongst the existing shareholder of Aleph Cayman,
                                            in order to reduce the total number of issued and outstanding shares in the share capital
                                            of Aleph Cayman and any associated amendments to Aleph Cayman’s constitutional documents
                                            required to effect such consolidation or redemption;

 

		(h)	the
                                            allotment and issuance by Aleph Cayman to up to nine (9) commercial partners or prospective
                                            commercial partners of IMS Group, which may include, without limitation, Twitter, Inc. (or
                                            any of its group companies, Snap, Inc. (or any of its group companies) and/or Warner Music
                                            Group Corp (or any of its group companies)) of new ordinary shares in the share capital of
                                            Aleph Cayman, provided that (i) the number of shares issued to all such partners shall not
                                            exceed three per cent. (3%) of the entire issued share capital of Aleph Cayman in aggregate;
                                            and (ii) each such partner shall pay a subscription price for such shares calculated based
                                            on an enterprise value for the IMS Group of not less than US$2,000,000,000;

 

		(i)	the
                                            transfer of all the shares held by Sony in Aleph Cayman to a third party purchaser; and

 

		(j)	the
                                            creation of any IMS Permitted Encumbrance;

 

“IMS Permitted
Dividends” means the dividends in an aggregate amount not exceeding:

 

		(a)	US$7,200,000
                                            declared by IMS April 1, 2021 and paid to Aleph on April 26, 2021; and

 

		(b)	US$800,000
                                            declared by IMS on April 1, 2021 and paid to Sony on April 26, 2021;

 

    13

     

    

 

“IMS Permitted
Encumbrance” means:

 

		(a)	any
                                            Encumbrance created in connection with any borrowings of the IMS Group existing at the Signature
                                            Date, provided that such Encumbrance has been Disclosed to A15; or

 

		(b)	any
                                            Encumbrance created in connection with any borrowings of the IMS Group in accordance with
                                            Clause 5.2(e) or 5.2(i) (Pre-Completion Conduct of Business),

 

but, in each case, excluding
any Encumbrance over or in respect of the Consideration Shares;

 

“IMS Permitted
Leakage” means:

 

		(a)	the
                                            IMS Permitted Dividends;

 

		(b)	the
                                            loan from Httpool Latvia SIA of US$2,000,000 to Latam;

 

		(c)	any
                                            Tax becoming payable at any time by any IMS Group Company as a consequence of any of the
                                            matters referred to above; and

 

		(d)	the
                                            reasonable and documented third party fees, costs, and expenses payable by Aleph Cayman in
                                            connection with the CVC Transaction, a Qualifying IPO or this Transaction (excluding, for
                                            the avoidance of doubt, any fees, costs and expenses paid on behalf of the Aleph Group in
                                            connection with the same);

 

“IMS Proportion”
means, in the case of any reference to an IMS Group Company:

 

		(a)	in
                                            the case of Aleph Cayman, one hundred per cent. (100%); and

 

		(b)	in
                                            the case of any IMS Group Company other than Aleph Cayman, Aleph Cayman’s direct and
                                            indirect percentage of equity ownership in such IMS Group Company as at Completion;

 

“IMS Registered
Intellectual Property” means patents, registered trademarks and service marks, registered designs, domain name registrations
(and applications for any of the same), owned, used or held for use by an IMS Group Company;

 

“IMS Subsidiary
Undertakings” means:

 

		(a)	in
                                            respect of any time prior to the CVC Completion Date, all Subsidiary Undertakings of IMS;
                                            and

 

		(b)	in
                                            respect of any time on or after the CVC Completion Date, all Subsidiary Undertakings of Aleph
                                            Cayman (including, for the avoidance of doubt, IMS and all of its Subsidiary Undertakings),

 

and “IMS Subsidiary
Undertaking” shall be construed accordingly;

 

“IMS Tax Claim”
means a claim under the IMS Tax Warranties;

 

“IMS Tax Covenant”
means the tax covenant set out in Schedule 16 (IMS Tax Covenant);

 

“IMS Supplemental
Disclosure Letter” means the letter from Aleph Cayman to A15 containing Aleph Cayman’s disclosures in connection with
the Aleph Cayman Warranties given at Completion in respect of matters arising between the Signature Date and the date of such letter;

 

“IMS Tax Warranties”
means the warranties set out in paragraph 20 of Schedule 12 (IMS Warranties) and the warranties set out in paragraph 21 of Schedule
13 (Aleph Cayman Warranties);

 

    14

     

    

 

“IMS
Territory” means any country or territory or possession thereof in which any IMS Group
Company does business at the Signature Date;

 

“IMS
Warranties” means the warranties set out in Schedule 12 (IMS Warranties), and
“IMS Warranty” shall mean any one of
them;

 

“IMS
Warranty Claim” means a Claim under the IMS Warranties or the Aleph Cayman Warranties
(other than the IMS Fundamental Warranties);

 

“IMS
Workers” means any employees, directors, officers, workers and self-employed contractors
of the IMS Group;

 

“Indemnity
Claim” means a claim under any of the indemnities in Clause 11 (Indemnities);

 

“Intellectual
Property” means patents, utility models, trademarks, service marks, trade and business
names, registered designs, design rights, copyright and neighboring rights, database rights, domain names, semi-conductor topography
rights and rights in inventions, software, trade secrets, confidential information of all kinds and other similar proprietary rights
which may subsist in any part of the world and whether registered or not, including, where such rights are obtained or enhanced by registration,
any registration of such rights and rights to apply for such registrations;

 

“Interest”
means the aggregate of (a) any amount of accrued and outstanding interest owed to any banking, financial,
acceptance credit, lending or other similar institution or organization or general public on all borrowing and indebtedness (including,
but not limited to, by way of net debit balances, loan stocks, bonds, debentures, notes, commercial paper, finance leases or similar),
excluding any accrued interest on ‘right of use’ assets
capitalized as per IFRS 16; and (b)any bank charges or foreign exchange charges;

 

“Joinder
and Amendment Agreement to the Aleph Cayman Shareholders’ Agreement”
means the joinder and amendment agreement (in the agreed form which shall be substantially on the terms
set out in Schedule 20) to be executed by Aleph, Akuma, Sony, CVC, Aleph Cayman and A15 at Completion, pursuant to which (inter alia)
A15 shall adhere to the Aleph Cayman Shareholders’ Agreement;

 

“Knowledge”
means:

 

		(a)	when
                                            used in reference to A15 and/or Connect Ads, the knowledge, information and belief of each
                                            of Fadi Antaki, Mahmoud Abou El Makarem, Karim Beshara, Mohamed El Mehairy, Amgad Fahim,
                                            Noha Sharaf and Mohamed Megahed; and with respect to the A15 Warranties at paragraph 25 (Employment;
                                            Labor Matters) of Schedule 9 (A15 Warranties) only, Lamiaa Balbaa and with respect
                                            to the A15 Warranties to the extent that they relate to Genart Medya Reklamcilik İletişim
                                            Ticaret A.Ş.only, Cemal Burak Yilmaz;

 

		(b)	when
                                            used in reference to Aleph Cayman, IMS and/or Httpool, the knowledge, information and belief
                                            of each of Christian Gaston Taratuta, Juan Manual Ruiz, Steven Oppenheim, Ignacio Vidaguren,
                                            Carolina Suissis, Nina Maier, Aljoša Jenko,
                                            and Luka Kumer,

 

in each case, on the basis that they
have made reasonable inquiry of any individuals holding c-suite positions within each IMS Group Company or Connect Ads Group Company
(as appropriate);

 

“KSA”
means the Kingdom of Saudi Arabia;

 

“KYC”
means know your customer;

 

    15

     

    

 

“Law”
means any applicable law, statute, ordinance, rule, regulation, or other pronouncement having the effect
of law or any interpretation or adjudication having the force of law;

 

“Latam”
means Latam Media Holdings, LLC;

 

“Latam
Reorganization” means the reorganization effected in February 19, 2021 pursuant to which
Latam transferred its entire shareholding in IMS to Aleph;

 

“LCIA”
has the meaning given in Clause 33.3 (Governing Law and Submission to Jurisdiction);

 

“Leakage
Expert” has the meaning given in Clause 12.12 (Leakage);

 

“Loss”
or “Losses” means
any and all losses, liabilities, including charges, costs, damages, fines, penalties, interest and all legal and other reasonable and
documented professional fees and expenses, including, in each case, all related Taxes;

 

“Material
Contract” any contract involving revenue or expenditure in excess of fifty thousand
US Dollars (US$50,000);

 

“MENA”
means Middle East and North Africa;

 

“No
Injunction Pre-Completion Condition” means the Pre-Completion Condition set out in paragraph
1 of Part 4 of Schedule 4 (Pre-Completion Conditions);

 

“Non-Regulatory
Pre-Completion Conditions” means the Pre-Completion Condition set out in paragraphs
1 to 10 of Part 1 of Schedule 4 (Pre-Completion Conditions);

 

“Notice”
has the meaning given in Clause 25.1 (Notices);

 

“Order”
means any order, injunction, judgement, writ, assessment (other than a Tax assessment in the ordinary
course of business), award, determination or decree of any Government Authority or arbitrator or administrative guidance having the effect
of the foregoing;

 

“Organizational
Documents” means, with respect to any person that is not a natural person, such person’s
memorandum and articles of association, certificate of incorporation, articles or statement of incorporation or formation, bylaws, operating
agreement, limited liability company agreement, partnership agreement, limited partnership agreement, limited liability partnership agreement,
joint stock company agreement or other constituent or organizational documents of such person;

 

“Parent
Undertaking” means an Undertaking which, in relation to another Undertaking, a “Subsidiary
Undertaking”:

 

		(a)	holds
                                            a majority of the voting rights in the Undertaking; or

 

		(b)	is
                                            a member of the Undertaking and has the right to appoint or remove a majority of its board
                                            of directors (or analogous body, including a management board and supervisory council); or

 

		(c)	has
                                            the right to exercise a dominant influence over the Undertaking, by virtue of provisions
                                            contained in its constitutional documents or elsewhere; or

 

		(d)	is
                                            a member of the Undertaking and controls alone, pursuant to an agreement with the other shareholders
                                            or members, a majority of the voting rights in the Undertaking,

 

and
an Undertaking shall be treated as the Parent Undertaking of any Undertaking in relation to which any of its Subsidiary Undertakings
is, or is to be treated as, Parent Undertaking, and “Subsidiary Undertaking”
shall be construed accordingly;

 

    16

     

    

 

“Party”
means a party to this Agreement, and “Parties”
shall mean the parties to this Agreement;

 

“Pension
Benefits” means any pension, lump sum or other benefit payable on, in anticipation of,
or following retirement, death, reaching a particular age, illness or disability, or in similar circumstances;

 

“Portal”
has the meaning given in Clause 6.3 (Pre-Completion Arrangements);

 

“Potential
Opportunity” means the amount determined in accordance with paragraph 1.4 (Earn Out
1 – Facebook / Google Contract) of Schedule 6 (Earn Outs);

 

“Pre-Completion
Conditions” has the meaning given in Clause 4.1 (Pre-Completion Conditions);

 

“Pre-Completion
IPO Sale Shares” has the meaning given in Clause 13.2;

 

“Put
Option Trigger Event” has the meaning given in paragraph 1.1 of Schedule 7 (A15 Put
Option);

 

“Qualifying
IPO” means an initial public offering of ordinary shares in the share capital of Aleph
Cayman on a Recognized Investment Exchange, provided that the Qualifying IPO Multiple is greater than 8.5;

 

“Qualifying
IPO Multiple” has the meaning given in Schedule 7 (A15 Put Option);

 

“Recognized
Investment Exchange” means an investment exchange that is recognized under the Financial
Services and Markets Act 2000;

 

“Regulatory
Pre-Completion Conditions” means the Pre-Completion Conditions set out in paragraphs
1 to 2 of Part 2 (Regulatory Pre-Completion Conditions) of Schedule 4 (Pre-Completion Conditions);

 

“Released
Amount” has the meaning given in Clause 3.4 (Deferred Consideration);

 

“Relevant
Party’s Group” means:

 

		(a)	in
                                            respect of A15, any other member of the A15 Group;

 

		(b)	in
                                            respect of Httpool, any other member of the Httpool Group; and

 

		(c)	in
                                            respect of Aleph Cayman or IMS, any other member of the IMS Group;

 

“Relevant
Territory” means Egypt, Morocco, Tunisia, Algeria, Lebanon, Jordan, UAE, Saudi Arabia,
Kuwait, Qatar, Bahrain, Oman, Pakistan, Turkey and Italy;

 

“Relief”
includes any loss, relief, allowance, credit, exemption or set off for Tax or any deduction in computing
income, profits or gains for the purposes of Tax and any right to a repayment of Tax or to a payment in respect of Tax;

 

“Restatement
Date” means 29 September 2021;

 

“Restricted
Transaction” means each and any of the following:

 

		(a)	any
                                            investment in the Connect Ads Group;

 

		(b)	the
                                            disposal (whether by way of sale, offer, transfer or otherwise) of all or any part of, or
                                            any interest in, the issued share capital of Connect Ads or any other member of the Connect
                                            Ads Group;

 

    17

     

    

 

		(c)	the
                                            disposal (whether by way of sale, offer, transfer or otherwise) of all, or any part of, the
                                            business, assets or undertaking of the Connect Ads Group; or

 

		(d)	any
                                            other disposal, merger, business combination or similar transaction involving Connect Ads
                                            or any member of the Connect Ads Group;

 

“Rules”
has the meaning given in Clause 33.3 (Governing Law and Submission to Jurisdiction);

 

“Sale
Shares” means shares in the share capital of Connect Ads together representing fifty-one
per cent. (51%) of the entire issued share capital of Connect Ads on a Fully-Diluted Basis at Completion;

 

“Sale
Shares Consideration” has the meaning given in Clause 3.1(a) (Sale Shares Consideration);

 

“Saudi
Competition Filing” means the regulatory filing referred to in paragraph 1 of Part 2
(Regulatory Pre-Completion Conditions) of Schedule 4 (Pre-Completion Conditions);

 

“Saudi
Competition Law” means Royal Decree no. M/75 dated 29/06/1440H (corresponding to 06/03/2019G)
and the Implementing Regulations which entered into force on 25/01/1441H (corresponding to 24/09/2019G);

 

“Second
Long Stop Date” means the date falling one hundred and thirty (130) days after the Restatement
Date, or such other date as Parties agree in writing;

 

“Service
Request” has the meaning given in Clause 6.3 (Pre-Completion Arrangements);

 

“Signature
Date” means the July 5, 2021;

 

“Sony”
means Sony Pictures Television Advertising Sales Company, a corporation organized and existing under
the laws of Delaware, whose offices are at 10202 West Washington Blvd, Culver City, California, 90232;

 

“Specified
Customers and Agencies” means each of the Connect Ads Italy customers and/or umbrella
agencies listed in Schedule 19 (Specified Customers and Agencies);

 

“Swap
Shares” means shares in the share capital of Connect Ads, together representing thirty-five
per cent. (35%) of the entire issued share capital of Connect Ads on a Fully-Diluted Basis at Completion;

 

“Swap
Shares Consideration” has the meaning given in Clause 3.2 (Swap Shares Consideration);

 

“Tax”
or “Taxation” means
and includes all forms of taxation and statutory and governmental, state, provincial, local governmental or municipal charges, duties,
contributions and levies, withholdings and deductions, in each case wherever and whenever imposed and all related penalties, charges,
costs and interest;

 

“Taxation
Authority” means any Governmental Authority or other authority competent to impose,
administer, levy, assess or collect Tax whether in the Cayman Islands, the Netherlands, the UAE, the United Kingdom, the United States,
or elsewhere where any Connect Ads Group Company or IMS Group Company transacts business;

 

“Tax
Returns” means any report, return, declaration, certificate, statement, or other document
required to be supplied to a Governmental Authority in connection with Taxes;

 

“Third
Long Stop Date” means the date falling fifteen (15) UAE Business Days after the date
on which all Non-Regulatory Pre-Completion Conditions and Regulatory Pre-Completion Conditions have been satisfied or waived, or such
other date as Parties agree in writing;

 

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“Third
Party Claim” has the meaning given in paragraph 10 (Conduct of Claims) of Schedule
11 (A15 Limitations of Liability);

 

“Third
Party” means any person other than a member of the Aleph Group or the IMS Group or any
of their respective Agents;

 

“Third
Party Negotiations” means any discussions or negotiations relating to or otherwise concerning
a Restricted Transaction, between a Third Party and any of A15, Connect Ads or another member of the Connect Ads Group (or any of their
respective Agents);

 

“Transaction
Documents” means this Agreement, the A15 Disclosure Letter, the A15 Supplemental Disclosure
Letter, the IMS Disclosure Letter, the IMS Supplemental Disclosure Letter, the Escrow Agreement and any other document or instrument
entered into or to be entered into pursuant to this Agreement;

 

“Transactions”
means individually and collectively the (a) sale and purchase of the Sale Shares; and (b) the sale and
purchase of the Swap Shares;

 

“Turkish
Competition Filing” means the regulatory filing referred to in paragraph 2 of Part 2
(Regulatory Pre-Completion Conditions) of Schedule 4 (Pre-Completion Conditions);

 

“Turkish
Merger Approval Communiqué” means Communiqué No.
2010/4 on Mergers and Acquisitions Subject to the Approval of the Competition Board issued by the Turkish Competition Board;

 

“Twitter
Agreements” means the agreements between the relevant Connect Ads Group Companies and
Twitter in Egypt, Saudi Arabia, Turkey and the UAE;

 

“Twitter
Condition” means the Pre-Completion Condition referred to in paragraph 8 of Part 1 (Non-Regulatory
Pre-Completion Conditions) of Schedule 4 (Pre-Completion Conditions);

 

“UAE”
mean the United Arab Emirates;

 

“UAE
Business Day” means a day (other than a Friday or Saturday or a public holiday) when
commercial banks are open for ordinary banking business in Dubai (UAE);

 

“Undertaking”
means a body corporate or partnership or an unincorporated association carrying on trade or business;

 

“UniCredit
Consent and Waiver” means the written waiver and consent from UniCredit Bank Slovenia
pursuant to which UniCredit Bank Slovenia irrevocably: (a) consents to the Transaction; and (b) waives its rights to terminate the UniCredit
Framework Loan Agreement;

 

“UniCredit
Framework Loan Agreement” means the framework loan agreement between Httpool Internet
Marketing d.o.o. (Slovenia) and UniCredit Bank Slovenia, dated May 29, 2015;

 

“US
Dollars” or “US$” means
the lawful currency of the United States of America, being the United States Dollar; and

 

“US
GAAP” means United States Generally Accepted Accounting Standards.

 

		1.2	The
                                            expression “in the agreed terms”
                                            means in the form agreed by the Parties and initialed for
                                            the purposes of identification by or on behalf of the Parties.

 

		1.3	Any
                                            reference to “writing” or
                                            “written” means
                                            any method of reproducing words in a legible and non-transitory form.

 

		1.4	References
                                            to “include” or
                                            “including” are
                                            to be construed without limitation.

 

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		1.5	References
                                            to a “company” include
                                            any company, corporation or other body corporate wherever and however incorporated or established.

 

		1.6	References
                                            to a “person” include
                                            any individual, company, partnership, joint venture, firm, association, trust, governmental
                                            or regulatory authority or other body or entity (whether or not having separate legal personality).

 

		1.7	The
                                            table of contents and headings are inserted for convenience only and do not affect the construction
                                            of this Agreement.

 

		1.8	Unless
                                            the context otherwise requires, words in the singular include the plural and vice versa and
                                            a reference to any gender includes all other genders.

 

		1.9	References
                                            to Clauses, paragraphs and Schedules are to clauses and paragraphs of, and schedules to,
                                            this Agreement. The Schedules form an integral part of this Agreement.

 

		1.10	References
                                            to any statute or statutory provision include a reference to that statute or statutory provision
                                            as amended, consolidated or replaced from time to time (whether before or after the Signature
                                            Date) and include any subordinate legislation made under the relevant statute or statutory
                                            provision except to the extent that any amendment, consolidation or replacement arising after
                                            the Signature Date would create or increase a liability of any Party.

 

		1.11	References
                                            to any English legal term for any action, remedy, method of financial proceedings, legal
                                            document, legal status, court, official or any legal concept or thing shall, in respect of
                                            any jurisdiction other than England, be deemed to include what most nearly approximates in
                                            that jurisdiction to the English legal term.

 

		1.12	References
                                            to “substantiated” in
                                            the context of a Claim means a Claim for which A15, Aleph Cayman or IMS (as applicable) may
                                            be liable and which is admitted or proved before an arbitral tribunal constituted pursuant
                                            to Clause 33 (Governing Law and Submission to Jurisdiction).

 

		1.13	Any
                                            reference to currency in this Agreement shall be to US$, and all payments required in accordance
                                            with this Agreement shall be made in US$. For the purposes of applying a reference to a monetary
                                            sum expressed in US$, an amount in a different currency shall be converted into US$ on a
                                            particular date at an exchange rate equal to the mid-point closing rate for that currency
                                            into US$ on that date as quoted in the London edition of the Financial Times first next published
                                            (or, if no such rate is quoted in the Financial Times, the mid-point closing rate quoted
                                            by HSBC Bank PLC in London). In relation to a Claim, the date of such conversion shall be
                                            the date of receipt of notice of that Claim in accordance with Schedule 11 (A15 Limitations
                                            of Liability) or Schedule 15 (IMS and Aleph Cayman Limitations of Liability) (as
                                            applicable).

 

		1.14	This
                                            Agreement shall be binding on and be for the benefit of the successors of the Parties.

 

		2.	Sale
                                            and Purchase of the Sale Shares and the Swap Shares

 

		2.1	A15
                                            shall sell, and Httpool shall purchase, the Sale Shares, with all rights attaching to them
                                            at Completion (including, without limitation, and subject to Clause 3.3, the right to receive
                                            all dividends and distributions declared, made or paid on or after Completion), and A15 shall
                                            transfer legal and beneficial title to the Sale Shares to Httpool free from all Encumbrances,
                                            on the terms of this Agreement.

 

		2.2	A15
                                            shall sell, and Aleph Cayman shall purchase, the Swap Shares, with all rights attaching to
                                            them at Completion (including, without limitation, and subject to Clause 3.3, the right to
                                            receive all dividends and distributions declared, made or paid on or after Completion), and
                                            A15 shall transfer legal and beneficial title to the Swap Shares to Aleph Cayman free from
                                            all Encumbrances, on the terms of this Agreement.

 

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		2.3	A15
                                            hereby waives and shall procure the waiver of any restrictions on transfer (including all
                                            pre-emption rights) which may exist in relation to the Sale Shares and the Swap Shares.

 

		2.4	None
                                            of A15, Httpool nor Aleph Cayman shall be obliged to complete the sale and purchase of the
                                            Sale Shares and/or the Swap Shares unless the sale and purchase of all of the Sale Shares
                                            and the Swap Shares is completed simultaneously.

 

		3.	Consideration
                                            for the Sale Shares and the Swap Shares

 

		3.1	Sale
                                            Shares Consideration

 

		(a)	The
                                            aggregate consideration for the sale and purchase of the Sale Shares (the “Sale
                                            Shares Consideration”) shall be the payment
                                            by Httpool to A15 of an amount, in US$, equal to:

 

		(i)	the
                                            Cash Consideration; plus

 

		(ii)	Earn
                                            Out Amount 1, if applicable; plus

 

		(iii)	Earn
                                            Out Amount 2, if applicable; plus

 

		(iv)	any
                                            Deferred Consideration, if applicable,

 

in each case, in accordance with the
provisions of this Agreement.

 

		(b)	The
                                            Parties acknowledge that Httpool has transferred Escrow Amount 3 to the Cash Consideration
                                            Escrow Account.

 

		(c)	Httpool
                                            shall procure that, not later than one (1) Business Day prior to Completion:

 

		(i)	the
                                            Cash Consideration less Escrow Amount 3 is transferred to the Cash Consideration Escrow Account;

 

		(ii)	Escrow
                                            Amount 1 is transferred to Escrow Account 1; and

 

		(iii)	Escrow
                                            Amount 2 is transferred to Escrow Account 2,

 

in each case, by telegraphic transfer
in immediately available cleared funds.

 

		(d)	The
                                            Parties shall procure that the Cash Consideration shall be unconditionally released from
                                            the Cash Consideration Escrow Account to A15 upon the receipt by the Escrow Agent of evidence
                                            of transfer of the Sale Shares in the name of Httpool in accordance with the provisions of
                                            the Escrow Agreement.

 

		(e)	Earn
                                            Out Amount 1 and Earn Out Amount 2 shall be calculated, and Escrow Amount 1 and Escrow Amount
                                            2 shall be released, in accordance with Schedule 6 (Earn Outs).

 

		3.2	Swap
                                            Shares Consideration

 

		(a)	The
                                            consideration for the sale and purchase of the Swap Shares (the “Swap
                                            Shares Consideration”) shall be the allotment
                                            and issuance by Aleph Cayman to A15 of the Consideration Shares in accordance with the provisions
                                            of this Agreement.

 

		(b)	The
                                            Consideration Shares shall be allotted and issued free from all Encumbrances, shall be credited
                                            as fully paid, non-assessable, ordinary shares which shall rank pari passu in respects
                                            with, and carry all of the rights and preferences of, ordinary shares issued and outstanding
                                            in the share capital of Aleph Cayman, including the right to receive all dividends, distributions,
                                            or returns of capital declared, made or paid by Aleph Cayman on or after the date on which
                                            such shares are allotted and issued.

 

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		(c)	Each
                                            of Aleph and Aleph Cayman hereby irrevocably and unconditionally waives and shall procure
                                            the waiver of any and all restrictions (including pre-emption rights) which may exist in
                                            relation to the allotment and issuance of the Consideration Shares.

 

		(d)	The
                                            Parties acknowledge and agree that, at Completion and contemporaneously with the allotment
                                            and issuance of the Consideration Shares, Aleph Cayman shall allot and issue to CVC such
                                            number of ordinary shares in the share capital of Aleph Cayman, at nominal value, as is necessary
                                            to ensure that CVC’s shareholding in Aleph Cayman
                                            is not diluted as a result of the allotment and issuance of the Consideration Shares, such
                                            that following Completion:

 

		(i)	CVC
                                            shall be the legal and beneficial owner of 23.5% of the entire issued share capital of Aleph
                                            Cayman;

 

		(ii)	A15
                                            shall be the legal and beneficial owner of the Consideration Shares Percentage of the entire
                                            issued share capital of Aleph Cayman; and

 

		(iii)	each
                                            of Aleph, Akuma and Sony shall have been diluted accordingly;

 

		(e)	If,
                                            at any time after the date of this Agreement and prior to Completion:

 

		(i)	Aleph
                                            Cayman allots and issues any new ordinary shares to (a) Imran Khan in accordance with paragraph
                                            (e) of the definition of IMS Permitted Actions; and/or (b) to any commercial partner or prospective
                                            commercial partner in each case, in accordance with paragraph (h) of the definition of IMS
                                            Permitted Actions; and/or (c) to CVC to ensure that CVC’s
                                            shareholding in Aleph Cayman is not diluted as a result of the allotment and issuance of
                                            shares pursuant to the circumstances set out in (a) or (b) of this clause, and

 

		(ii)	as
                                            a result of the allotment and issuance of such shares each of the existing shareholders of
                                            Aleph Cayman (excluding CVC) is diluted on a pro rata basis, then the Consideration Shares
                                            Percentage shall be reduced by the same percentage that each existing shareholder in Aleph
                                            Cayman (other than CVC) has been diluted.

 

		3.3	Connect
                                            Ads Permitted Dividends

 

		(a)	Aleph
                                            Cayman and Httpool shall procure that any amount of the Connect Ads Permitted Dividends which
                                            has not been paid in full prior to Completion, is paid by Connect Ads to A15 as soon as reasonably
                                            practicable following Completion from any Excess Cash that Connect Ads holds from time to
                                            time. In order to facilitate such payment, the Parties shall use reasonable endeavors to
                                            maximize the cash available in Connect Ads (including by procuring that each Connect Ads’
                                            Subsidiary Undertaking distributes any free cash to Connect
                                            Ads) and shall procure that Connect Ads makes periodic instalments in respect of such amounts
                                            until all of the Connect Ads Permitted Dividends have been paid in full.

 

		(b)	With
                                            effect from Completion, Aleph Cayman and Httpool shall procure that:

 

		(i)	Connect
                                            Ads shall not, at any time, cancel the Connect Ads Permitted Dividends; and

 

		(ii)	unless
                                            and until Connect Ads has paid to A15, in full, all amounts outstanding pursuant to the Connect
                                            Ads Permitted Dividends:

 

		(A)	Connect
                                            Ads shall not declare any further dividend and/or other distribution; and/or

 

		(B)	no
                                            member of the Connect Ads Group shall repay any amounts due under any existing facility or
                                            loan agreement any member of the Connect Ads Group has with any member of the Aleph Group
                                            or the IMS Group and/or extend any loan or grant any facility from any member of the Connect
                                            Ads Group to any member of the Aleph Group and/or the IMS Group.

 

		(c)	A15
                                            shall procure that at Completion the total cash held by Connect Ads is not less than US$2,200,000.

 

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		3.4	Deferred
                                            Consideration

 

Pursuant
to the terms of the CVC SPA, a sum of US$20,000,000 (twenty million US dollars) is held in an escrow account (“CVC
Escrow Amount”). Following release of part or all of the CVC Escrow Amount pursuant
to clause 2.11 of the CVC SPA to Aleph, Akuma and Sony (the “Released Amount”),
Httpool shall pay to A15 an amount, in US$, equal to the Released Amount multiplied by the Consideration Shares Percentage (“Deferred
Consideration”) within 7 Business Days of the release by the escrow agent of the Released
Amount. For the avoidance of doubt, if the Released Amount is $0, the Deferred Consideration shall be $0.

 

		4.	Pre-Completion
                                            Conditions

 

		4.1	The
                                            obligations of the Parties to complete the sale and purchase of the Sale Shares and the Swap
                                            Shares, are conditional upon satisfaction (or waiver, in accordance with this Agreement)
                                            of the conditions set out in Schedule 4 (Pre-Completion Conditions) (“Pre-Completion
                                            Conditions”).

 

		4.2	A15
                                            shall use its reasonable endeavors to procure the fulfilment of the Non-Regulatory Pre-Completion
                                            Conditions set out in paragraphs 1, 2 and 8 of Part 1 of Schedule 4 (Pre-Completion Conditions),
                                            as soon as reasonably practicable, and in any event before the First Long Stop Date.

 

		4.3	Aleph
                                            Cayman and Httpool shall use their reasonable endeavors to procure the fulfilment of the
                                            Non-Regulatory Pre-Completion Conditions set out in paragraphs 3, 4, 5, 6, 7, 9 and 10 of
                                            Part 1 of Schedule 4 (Pre-Completion Conditions), as soon as reasonably practicable,
                                            and in any event before the First Long Stop Date.

 

		4.4	A15
                                            shall use its reasonable endeavors to procure the fulfilment of the Regulatory Pre-Completion
                                            Condition set out in paragraph 1 of Part 2 of Schedule 4 (Pre-Completion Conditions),
                                            as soon as reasonably practicable, and in any event before the Second Long Stop Date.

 

		4.5	Aleph
                                            Cayman and Httpool shall use their reasonable endeavors to procure the fulfilment of the
                                            Regulatory Pre-Completion Conditions set out in paragraphs 1 and 2 of Part 2 of Schedule
                                            4 (Pre-Completion Conditions), as soon as reasonably practicable, and in any event
                                            before the Second Long Stop Date.

 

		4.6	A15,
                                            Aleph Cayman and Httpool shall each use their reasonable endeavors to procure the fulfilment
                                            of the DMCCA Pre-Completion Condition, as soon as reasonably practicable following the fulfilment
                                            of the Non-Regulatory Pre-Completion Conditions and Regulatory Pre-Completion Conditions,
                                            and in any event before the Third Long Stop Date.

 

		4.7	Aleph
                                            Cayman and Httpool (acting jointly) may waive in whole or in part all or any of the Non-Regulatory
                                            Pre-Completion Conditions set out in paragraphs 1, 2 and 8 of Part 1 of Schedule 4 (Pre-Completion
                                            Conditions). The Parties (acting jointly) may waive in whole or in part all or any of
                                            the Regulatory Pre-Completion Conditions and the No Injunction Pre-Completion Condition.

 

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		4.8	The
                                            Parties agree that:

 

		(a)	the
                                            Saudi Competition Filing shall be jointly prepared by Aleph Cayman and Httpool on the one
                                            hand and A15 on the other; and

 

		(b)	the
                                            Turkish Competition Filing and the Egyptian Competition Filing shall be prepared by Aleph
                                            Cayman and Httpool.

 

		4.9	The
                                            Parties agree that:

 

		(a)	Aleph
                                            Cayman, Httpool and A15 shall jointly submit the Saudi Competition Filing to the Saudi General
                                            Authority for Competition as soon as reasonably practicable following Signature Date, and
                                            in any event on or prior to the date falling 5 Business Days after the Restatement Date;
                                            to the extent that fully notarised and attested documentation is required and cannot be obtained
                                            by such deadline, it shall follow as soon as reasonably practicable thereafter and the Parties
                                            acknowledge and agree that any delays in obtaining notarised and attested documentation shall
                                            not delay the submission of the filing;

 

		(b)	Aleph
                                            Cayman and Httpool shall submit all other notifications, filings or submissions to the applicable
                                            Governmental Authority (including the Turkish Competition Filing) as soon as reasonably practicable
                                            following Signature Date, and in any event on or prior to the date falling 5 Business Days
                                            after the Restatement Date; to the extent that fully notarised and attested documentation
                                            is required and cannot be obtained by such deadline, it shall follow as soon as reasonably
                                            practicable thereafter and the Parties acknowledge and agree that any delays in obtaining
                                            notarised and attested documentation shall not delay the submission of the filing; and

 

		(c)	all
                                            requests and enquiries from any Governmental Authority in respect of the Transactions shall
                                            be dealt with, in each case, by the Parties in consultation with each other and the Parties
                                            shall co-operate with each other and any Governmental Authority, to the extent necessary
                                            and on a confidential basis, and provide all necessary information and assistance reasonably
                                            required by the other or by any Governmental Authority as soon as reasonably practical upon
                                            being requested to do so.

 

		4.10	Each
                                            of Aleph Cayman and Httpool shall:

 

		(a)	allow
                                            A15 the opportunity to participate in any call or meeting with any Governmental Authority
                                            in connection with the Transactions (save to the extent that the Governmental Authority expressly
                                            requests that A15 should not participate in such call or meeting), promptly inform A15 of
                                            the content of any such call or meeting or other communication which takes place between
                                            Aleph Cayman and/or Httpool (or their respective Agents) and any Governmental Authority in
                                            which A15 did not participate and provide copies or, in the case of non-written communications,
                                            a written summary, to A15;

 

		(b)	procure
                                            that A15 is given a reasonable opportunity to review, comment on and approve drafts of all
                                            notifications, filings and submissions in connection with the Transactions before they are
                                            submitted to any Governmental Authority and provide A15 with final copies of all such notifications,
                                            filings and submissions (it being acknowledged that certain such drafts and/or documents
                                            may be shared on a confidential basis only with outside counsel) and take account of any
                                            reasonable comments; and

 

		(c)	notify
                                            A15 of any material communication (whether oral or written) from any Governmental Authority
                                            in connection with the Transactions and provide copies of any and all such communications
                                            received from any Governmental Authority.

 

    24

     

    

 

 

		4.11	A15 shall:

 

		(a)	allow Aleph Cayman and/or Httpool the
                                            opportunity to participate in any call or meeting with any Governmental Authority in connection
                                            with the Transactions (save to the extent that the Governmental Authority expressly requests
                                            that Aleph Cayman and/or Httpool should not participate in such call or meeting), promptly
                                            inform Aleph Cayman and/or Httpool of the content of any such call or meeting or other communication
                                            which takes place between A15 and/or Connect Ads Group (or their respective Agents) and any
                                            Governmental Authority in which Aleph Cayman and/or Httpool did not participate and provide
                                            copies or, in the case of non-written communications, a written summary, to Aleph Cayman
                                            and/or Httpool;

 

		(b)	procure
                                            that Aleph Cayman and/or Httpool is given a reasonable opportunity to review, comment on
                                            and approve drafts of all notifications, filings and submissions in connection with the Transactions
                                            before they are submitted to any Governmental Authority and provide Aleph Cayman and/or Httpool
                                            with final copies of all such notifications, filings and submissions (it being acknowledged
                                            that certain such drafts and/or documents may be shared on a confidential basis only with
                                            outside counsel) and take account of any reasonable comments; and

 

		(c)	notify
                                            Aleph Cayman and/or Httpool of any material communication (whether oral or written) from
                                            any Governmental Authority in connection with the Transactions and provide copies of any
                                            and all such communications received from any Governmental Authority.

 

		4.12	Each
                                            of Aleph Cayman and Httpool shall not, without the prior written consent of A15, withdraw
                                            any notification, filing or submission made to any Governmental Authority.

 

		4.13	A15
                                            shall not, without the prior written consent of Aleph Cayman and Httpool, withdraw the Saudi
                                            Competition Filing.

 

		4.14	Each Party undertakes to notify the other
                                            Parties in writing of anything which will or may prevent:

 

		(a)	any
                                            of the Non-Regulatory Pre-Completion Conditions (other than the Twitter Condition) from being
                                            satisfied on or before the First Long Stop Date;

 

		(b)	any
                                            of the Regulatory Pre-Completion Conditions from being satisfied on or before the Second
                                            Long Stop Date; and/or

 

		(c)	the
                                            DMCCA Pre-Completion Condition and/or the Twitter Condition from being satisfied on or before
                                            the Third Long Stop Date,

 

in each case, as soon as reasonably
practicable after it comes to its attention.

 

		4.15	Each
                                            Party undertakes to notify the other Parties as soon as reasonably practicable on becoming
                                            aware that any of the Pre-Completion Conditions has been satisfied and in any event within
                                            five (5) Business Days of such satisfaction.

 

4.16       If:

 

		(a)	any
                                            of the Non-Regulatory Pre-Completion Conditions (other than the Twitter Condition) is not
                                            fulfilled or waived on or before the First Long Stop Date;

 

		(b)	any
                                            of the Regulatory Pre-Completion Conditions is not fulfilled or waived on or before the Second
                                            Long Stop Date;

 

		(c)	the
                                            DMCCA Pre-Completion Condition is not fulfilled or waived on or before the Third Long Stop
                                            Date; and/or

 

    25

     

    

 

		(d)	the No Injunction Pre-Completion Condition
                                            or the Twitter Condition is not fulfilled or waived on the date the DMCCA Pre-Completion
                                            Condition is fulfilled or waived or, having been so fulfilled, does not continue to be up
                                            to Completion (unless waived),

 

then any Party may, by written notice
to the other Parties, terminate this Agreement with immediate effect, subject to, and on the basis set out in, Clause 16 (Termination).

 

	5.	Pre-Completion Conduct of Business

 

	5.1	A15 shall and shall procure that from the Signature
                                            Date until Completion, each Connect Ads Group Company will conduct its business in the ordinary
                                            course of the business of such Connect Ads Group Company and, without the prior written approval
                                            of Httpool, no Connect Ads Group Company will do or agree to do anything which is outside
                                            the ordinary course of the business of such Connect Ads Group Company, including:

 

		(a)	disposing
                                            of or granting any option in respect of any material part of its assets;

 

		(b)	acquiring
                                            or disposing of any fixed asset having a book value in excess of fifty thousand US Dollars
                                            (US$50,000);

 

		(c)	making
                                            any material change in the nature or organization of its business;

 

		(d)	discontinuing
                                            or ceasing to operate all or a material part of its business;

 

		(e)	borrowing
                                            money or incurring any financial indebtedness;

 

		(f)	granting
                                            any loan, advance or capital contribution to any other person that is in excess of five million
                                            US Dollars (US$5,000,000), other than to an existing Connect Ads Group Company (including,
                                            for the avoidance of doubt, any newly incorporated, or newly acquired wholly-owned subsidiary
                                            of any Connect Ads Group Company);

 

		(g)	reducing its share capital or purchasing or redeeming its own shares;

 

		(h)	acquiring any share or other interest
                                            in any person or other venture or acquiring any business carried on by any person;

 

		(i)	creating
                                            any Encumbrance or giving any guarantees (other than guarantees in the ordinary course of
                                            business to support obligations of any Connect Ads Group Company under a customer contract)
                                            or indemnities;

 

		(j)	declaring,
                                            making or paying any dividend or other distribution by Connect Ads (and not for the avoidance
                                            of doubt any Connect Ads Group Company which shall be permitted), save for any Connect Ads
                                            Permitted Dividend;

 

		(k)	creating,
                                            allotting or issuing any shares, loan capital or other securities other than in connection
                                            with the Transactions;

 

		(l)	creating,
                                            issuing, redeeming or granting any option or right to subscribe in respect of any share or
                                            loan capital or other securities;

 

		(m)	amending
                                            its articles of association, by-laws or equivalent constitutional documents, adopting further
                                            articles of association, by-laws or equivalent constitutional documents or passing resolutions
                                            which are inconsistent with them (save, for the avoidance of doubt, the adoption of initial
                                            articles of association, by-laws or equivalent constitutional documents by any newly incorporated,
                                            or newly acquired, wholly-owned subsidiary of any Connect Ads Group Company);

 

		(n)	making
                                            any change to the accounting procedures, policies, reference date or treatment by reference
                                            to which its accounts or other financial statements are prepared;

 

    26

     

    

 

		(o)	dismissing any Connect Ads Key Manager
                                            or directly or indirectly, inducing or attempting to induce any Connect Ads Key Manager to
                                            terminate his employment;

 

		(p)	changing
                                            its residence for Tax purposes;

 

		(q)	amending
                                            or terminating any insurance policies where the consequence of such amendment or cancellation
                                            will be materially detrimental to any Connect Ads Group Company;

 

		(r)	filing
                                            for bankruptcy or insolvency or dissolving or liquidating any Connect Ads Group Company;

 

		(s)	entering
                                            into, amending or modifying in any material respect or terminating any Material Contract
                                            or IP license, in each case other than in the ordinary course of business; or

 

		(t)	granting
                                            or increasing any severance or similar payments to any employee, director or officer earning
                                            one million US Dollars (US$1,000.000) per annum or more in salary and/or bonuses other than
                                            in the ordinary course of business or as may be required by Law, existing contract or as
                                            Disclosed.

 

		5.2	Aleph Cayman and IMS shall, and IMS shall
                                            procure that from the Signature Date until Completion and Aleph Cayman shall procure that
                                            from the Restatement Date until Completion, each IMS Group Company will conduct its business
                                            in the ordinary course of the business of such IMS Group Company and, without the prior written
                                            approval of A15, no IMS Group Company will do or agree to do anything which is outside the
                                            ordinary course of the business of such IMS Group Company, including:

 

		(a)	disposing
                                            of or granting any option in respect of any material part of its assets where the IMS Disposal
                                            Multiple is less than 6.5, unless IMS pays to A15 the amount of compensation determined in
                                            accordance with Schedule 8 (A15 Anti-Embarrassment Protection);

 

		(b)	acquiring
                                            or disposing of any fixed asset having a book value in excess of one million US Dollars (US$1,000,000);

 

		(c)	save
                                            for the CVC Transaction, making any material change in the nature or organization of its
                                            business;

 

		(d)	discontinuing
                                            or ceasing to operate all or a material part of its business;

 

		(e)	borrowing
                                            money or incurring any financial indebtedness in excess of 2 x the IMS Group EBITDA from
                                            time to time;

 

		(f)	granting any loan, advance to any other
                                            person that is in excess of two million US Dollars (US$2,000,000) other than to an existing
                                            IMS Group Company (including, for the avoidance of doubt, any newly incorporated, or newly
                                            acquired subsidiary of any IMS Group Company);

 

		(g)	reducing
                                            its share capital or purchasing or redeeming its own shares;

 

		(h)	acquiring
                                            any share or other interest in any person or other venture or acquiring any business carried
                                            on by any person for an amount where the IMS Acquisition Multiple is greater than eight (8),
                                            unless IMS pays to A15 the amount of compensation determined in accordance with Schedule
                                            8 (A15 Anti-Embarrassment Protection);

 

		(i)	creating
                                            any Encumbrance or giving any guarantees (other than guarantees in the ordinary course of
                                            business to support obligations of any IMS Group Company under a commercial contract or any
                                            third party bank facility agreement entered into in accordance with Clause 5.2(e) (Pre-Completion
                                            Conduct of Business)) or indemnities;

 

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		(j)	declaring, making or paying any dividend
                                            or other distribution by IMS (and not for the avoidance of doubt any IMS Group Company which
                                            shall be permitted), save for any IMS Permitted Dividends;

 

		(k)	creating, allotting or issuing any shares,
                                            or other securities, other than in connection with the Transactions and any IMS Acquisition;

 

		(l)	creating, issuing, redeeming or granting
                                            any option or right to subscribe in respect of any share capital or other securities;

 

		(m)	amending its articles of association,
                                            by laws or equivalent constitutional documents, adopting further articles of association,
                                            by laws or equivalent constitutional documents or passing resolutions which are inconsistent
                                            with them (save, for the avoidance of doubt, the adoption of initial articles of association,
                                            by laws or equivalent constitutional documents by any newly incorporated, or newly acquired,
                                            subsidiary of any IMS Group Company) if such amendment would introduce a new class or sub
                                            class of shares and/or amend the rights attaching to any shares;

 

		(n)	making
                                            any change to the accounting procedures, policies, reference date or treatment by reference
                                            to which its accounts or other financial statements are prepared other than the adoption
                                            of Rule ASC 606 and any other criteria adopted in connection with a Qualifying IPO provided
                                            that it does not have any adverse impact on A15;

 

		(o)	dismissing
                                            any IMS Key Manager or directly or indirectly, inducing or attempting to induce any IMS Key
                                            Manager to terminate his employment;

 

		(p)	changing
                                            its residence for Tax purposes where such change would affect A15;

 

		(q)	amending
                                            or terminating any insurance policies where the consequence of such amendment or cancellation
                                            will be materially detrimental to any IMS Group Company;

 

		(r)	filing
                                            for bankruptcy or insolvency or dissolving or liquidating any IMS Group Company;

 

		(s)	granting
                                            or increasing any severance or similar payments to any employee, director or officer earning
                                            one million US Dollars (US$1,000,000) per annum or more in salary and/or bonuses other than
                                            in the ordinary course of business or as may be required by Law, existing contract or as
                                            Disclosed unless IMS pays to A15 the amount of compensation determined in accordance with
                                            Clause 5.2(h) (Pre-Completion Conduct of Business).

 

		5.3	During
                                            the period between the Signature Date and Completion, each Connect Ads Group Company and
                                            IMS Group Company shall continue to maintain its books and records in accordance with past
                                            practice.

 

		5.4	The
                                            obligations of the Parties in this Clause 5 (Pre-Completion Conduct of Business) shall
                                            not apply in respect of and shall not operate so as to restrict or prevent the following:

 

		(a)	any
                                            action reasonably undertaken by any Connect Ads Group Company or any IMS Group Company in
                                            an emergency or disaster situation with the intention of minimizing any adverse effect thereof;

 

		(b)	any
                                            action provided for in or required by this Agreement or any of the other Transaction Documents;

 

		(c)	any
                                            matter to the extent required by applicable Laws;

 

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		(d)	any IMS Permitted Actions; or

 

		(e)	any A15 Permitted Actions,

 

provided, however, that the Party taking
any such action will notify the other Parties in writing of any such action as soon as reasonably practicable.

 

		5.5	In the event A15 does not provide its prior
                                            written approval in respect of any grant or increase of any severance or similar payments
                                            to any employee, director or officer in accordance with Clause 5.2 (Pre-Completion Conduct
                                            of Business), Httpool shall, subject to Completion and within ten (10) Business Days
                                            of Completion, pay to A15 an amount in US$ determined as follows:

 

(a)       the
aggregate amount of the proposed increase; and

 

(b)       multiplied
by the Consideration Shares Percentage.

 

		6.	Pre-Completion Arrangements

 

		6.1	The Parties agree that any document to be
                                            provided pursuant to this Clause 6 (Pre-Completion Arrangements) shall, if it is issued
                                            outside of the UAE and required by a Governmental Authority in the UAE, be provided at the
                                            relevant time following its legalization and notarization by the UAE Embassy in the country
                                            of issuance, the Ministry of Foreign Affairs of the country of issuance, and the UAE Ministry
                                            of Foreign Affairs.

 

		6.2	As soon as reasonably practicable following
                                            the Signature Date, and in any event no later than the date on which the final Regulatory
                                            Pre-Completion Condition is satisfied (or the final Non-Regulatory Pre-Completion Condition
                                            is satisfied, whichever is later), or such later date as may be agreed between A15, Httpool
                                            and Aleph Cayman in writing: (a) A15 shall obtain the original documents set out in Clause
                                            6.3(a) (Pre-Completion Arrangements) and provide copies to Httpool and Aleph Cayman;
                                            (b) Httpool shall obtain and submit to A15 the original documents set out in Clause 6.3(b)
                                            (Pre-Completion Arrangements); and (c) Aleph Cayman shall obtain and submit to A15
                                            the original documents set out in Clause 6.3(c) (Pre-Completion Arrangements).

 

		6.3	Provided that the Parties have provided to
                                            Connect Ads the documents set out in Clause 6.1(a) (Pre-Completion Arrangements) through
                                            (c), as soon as reasonably practicable following, and in any event no longer than two (2)
                                            Business Days after, the satisfaction of the final Regulatory Pre-Completion Condition (or
                                            the final Non-Regulatory Pre-Completion Condition is satisfied, whichever is later), A15
                                            shall: submit an online service request (the “Service Request”) on the
                                            DMCCA portal (the “Portal”) to upload documents required to obtain the
                                            DMCCA’s approval for the transfer and registration of the Sale Shares in the name of
                                            Httpool and the Swap Shares in the name of Aleph Cayman; top up Connect Ads’ account
                                            on the Portal by AED 4,515 or such other amount as may be required by the DMCCA (paid by
                                            Httpool); and upload copies of supporting documentation required by the DMCCA, including
                                            (but not limited to):

 

(a)       from
A15:

 

		(i)	a board resolution of A15, in the form acceptable
                                            to the DMCCA, approving: (A) the sale and transfer of the Sale Shares to Httpool and Swap
                                            Shares to Aleph Cayman; (B) the resignation of up to four members of the board of directors
                                            of Connect Ads as notified to A15 in advance of Completion; and (C) appointing up to four
                                            directors to the board of directors of Connect Ads as nominated in writing by Httpool; and
                                            (D) authorizing an individual to sign the relevant documents on behalf of A15 to undertake
                                            all steps and sign documents to effect such resolutions including without limitation signing
                                            the revised memorandum and articles of association of Connect Ads (which shall be legalized
                                            and notarized);

 

    29

     

    

 

		(ii)	the certificate of incumbency of A15 (which
                                            shall be legalized and notarized);

 

		(iii)	the memorandum and articles of association of Connect Ads;

 

		(iv)	an updated Ultimate Beneficial Owner Declaration;

 

		(v)	the original share certificates in respect
                                            of the shares held by A15 in Connect Ads; and

 

		(vi)	any and all other documents and forms required
                                            by the DMCCA or otherwise necessary in order to enable the DMCCA to register Httpool as the
                                            owner of the Sale Shares and Aleph Cayman as the owner of the Swap Shares in the company
                                            registry of the DMCCA.

 

(b)       from Httpool:

 

		(i)	a board resolution of Httpool, in the form
                                            acceptable to the DMCCA, approving: (A) the purchase of the Sale Shares; (B) appointment
                                            of four (4) out of five (5) directors to the board of directors of Connect Ads; and (C) authorizing
                                            an individual to sign the relevant documents on behalf of Httpool to undertake all steps
                                            and sign documents to effect such resolutions including without limitation signing the revised
                                            memorandum and articles of association of Connect Ads (which shall be legalized and notarized);

 

		(ii)	the memorandum of association of Httpool
                                            (which shall be legalized and notarized);

 

		(iii)	the articles of association of Httpool (which shall be notarized);

 

		(iv)	the certificate of good standing of Httpool (which shall be notarized);

 

		(v)	an Ultimate Beneficial Owner Declaration; and

 

		(vi)	any and all other documents and forms required
                                            by the DMCCA or otherwise necessary in order to enable the DMCCA to complete the Commercial
                                            Registration (including but, not limited to, any KYC requirements relating to the declaration
                                            of the ultimate beneficial owner of Httpool).

 

(c)       from
Aleph Cayman:

 

		(i)	a board resolution of Aleph Cayman, in the
                                            form acceptable to the DMCCA, approving: (A) the purchase of the Swap Shares; and (B) authorizing
                                            an individual to sign the relevant documents on behalf of Aleph Cayman to undertake all steps
                                            and sign documents to effect such resolutions including without limitation signing the revised
                                            memorandum and articles of association (as amended and restated) of Connect Ads (which shall
                                            be notarized);

 

		(ii)	the
                                            certificate of incorporation, as amended, of Aleph Cayman (which shall be legalized and notarized);

 

		(iii)	the
                                            memorandum and articles of association of Aleph Cayman (which shall be legalized and notarized);

 

		(iv)	the
                                            certificate of incumbency of Aleph Cayman (which shall be legalized and notarized);

 

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		(v)	the certificate of good standing of Aleph
                                            Cayman (which shall be legalized and notarized);

 

		(vi)	an Ultimate Beneficial Owner Declaration; and

 

		(vii)	any and all other documents and forms
                                            required by the DMCCA or otherwise necessary in order to enable the DMCCA to complete the
                                            Commercial Registration (including but, not limited to, any KYC requirements relating to
                                            the declaration of the ultimate beneficial owner of Aleph Cayman).

 

		6.4	Following the satisfaction of the requirements
                                            of Clause 6.3 (Pre-Completion Arrangements), the following steps shall be undertaken
                                            in chronological order:

 

		(a)	review by the DMCCA of the documents submitted
                                            to the DMCCA pursuant to Clause 6.3 (Pre-Completion Arrangements);

 

		(b)	the Parties shall obtain the approval
                                            of the DMCCA to the sale and purchase of the Sale Shares and Swap Shares in accordance with
                                            Part 3 of Schedule 4 (Pre-Completion Conditions); and

 

		(c)	the Parties shall submit to the DMCC following
                                            a request from the DMCCA:

 

		(i)	originals of the documents listed in Clause 6.3 (Pre-Completion Arrangements);
                                            and

 

		(ii)	sign:

 

		(A)	the share transfer form (in the standard
                                            format issued by the DMCCA) and the amendment to the memorandum of and articles of association
                                            of Connect Ads to effect the transfer of the Sale Shares from A15 to Httpool; and

 

		(B)	the share transfer form (in the standard
                                            format issued by the DMCCA) and the amendment to the memorandum of and articles of association
                                            of Connect Ads to effect the transfer of the Swap Shares from A15 to Aleph Cayman.

 

The representatives of each of A15,
Httpool and Aleph Cayman shall attend the DMCCA to effect actions applicable to them specified in: (1) paragraph 2 of Part 1 of Schedule
5 (Completion Arrangements); (2) paragraph 2 of Part 2 of Schedule 5 (Completion Arrangements); and (3) paragraph 1 of
Part 3 of Schedule 5 (Completion Arrangements).

 

		6.5	Subject to applicable Law, A15 and Connect
                                            Ads shall, from the date on which the Service Request is submitted to the DMCCA in accordance
                                            with Clause 6.3 (Pre-Completion Arrangements) until the occurrence of Completion (or,
                                            if earlier, the Third Long Stop Date (in case the DMCCA Pre-Completion Condition is not fulfilled
                                            or waived on or before the Third Long Stop Date)):

 

		(a)	inform Aleph Cayman and Httpool of any
                                            material update received from the DMCCA with respect to the Sale Share or Swap Share transfer
                                            process and respond to any reasonable request for information with respect to the status
                                            of the same that is received from Aleph Cayman or Httpool; and

 

		(b)	to the extent within its lawful control
                                            and possession, use all reasonable endeavors to provide to the DMCCA in the manner requested
                                            any document or information that is requested by the DMCCA in relation to the Sale Share
                                            and Swap Share transfer process.

 

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		6.6	Aleph Cayman and IMS shall, prior to Completion,
                                            use reasonable endeavors to obtain the Citi Consent and Waiver and the UniCredit Consent
                                            and Waiver.

 

		6.7	A15 shall, prior to Completion, use reasonable
                                            endeavors to procure that, to the extent required by applicable law Connect Ads Italy enters
                                            into a data processing agreement with each of the Specified Customers and Agencies.

 

		7.	Completion

 

		7.1	Completion shall take place at 10.00 a.m.
                                            on the Completion Date at the offices of Connect Ads at 306-307 Mazaya Business Avenue, BB2,
                                            Jumeirah Lakes Towers, Dubai, UAE or at such other time, date and/or place as is agreed in
                                            writing by Aleph Cayman and A15.

 

		7.2	At or prior to Completion, the Parties shall
                                            undertake their respective obligations in Schedule 5 (Completion Arrangements).

 

		7.3	If there is a material breach of Clauses 6
                                            (Pre-Completion Arrangements) and 7.2 (Completion) and Schedule 5 (Completion
                                            Arrangements), by a Party (the “Defaulting Party”) at Completion,
                                            then A15 (if either Httpool or Aleph Cayman is the Defaulting Party) or Httpool and Aleph
                                            Cayman (acting jointly) (if A15 is the Defaulting Party) may:

 

		(a)	defer Completion for a period of up to
                                            ten (10) Business Days (with the provisions of this Clause 7 (Completion) applying
                                            to Completion as so deferred);

 

		(b)	require the Parties to proceed to Completion
                                            as far as practicable (without limiting its rights and remedies under this Agreement), having
                                            regard to the defaults which have occurred; or

 

		(c)	terminate this Agreement with immediate
                                            effect by delivering written notice to the other Parties, subject to, and on the basis set
                                            out in, Clause 16 (Termination).

 

		7.4	Immediately following Completion, A15 shall
                                            offer all assistance as Httpool and Aleph Cayman may reasonably request so that Connect Ads
                                            can secure from the DMCCA the issuance of the following:

 

		(a)	the E-Share Certificate showing Httpool
                                            as the owner of the Sale Shares to Httpool;

 

		(b)	the E-Share Certificate showing Aleph
                                            Cayman as the owner of the Swap Shares to Aleph Cayman; and

 

		(c)	restated articles of association of Connect
                                            Ads reflecting each of Httpool, Aleph Cayman and A15 as shareholders in Connect Ads.

 

		7.5	As soon as practicable following Completion,
                                            A15, Httpool and Aleph Cayman shall procure that Connect Ads requests from the DMCCA that
                                            the following are issued to Httpool:

 

		(a)	a copy of Connect Ads’ revised memorandum and articles of association;
                                            and

 

		(b)	copy of the trade license and copy of
                                            certificate of registration of Connect Ads (updated, where applicable, to reflect the transfer
                                            of the Sale Shares to Httpool and the Swap Shares to Aleph Cayman).

 

 

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		7.6	Immediately following Completion, A15 shall
                                            provide to Httpool details of the username and password required for Connect Ads to access
                                            the Portal.

 

		8.	Post Completion Obligations

 

		8.1	Aleph Cayman and Httpool shall, within thirty
                                            (30) days of Completion, submit to the Egyptian Competition Authority on behalf of themselves,
                                            A15 and each relevant member of the Connect Ads Group, a merger filing notification pursuant
                                            to the Egyptian Competition Law, together with all necessary supporting documents (the “Egyptian
                                            Competition Filing”). A15 and Connect Ads shall use its best endeavors to provide
                                            all assistance reasonably requested by Aleph Cayman in connection with such filing.

 

		8.2	The Parties acknowledge and agree that the
                                            Egyptian Competition Law may be amended or replaced to require a mandatory pre-Completion
                                            filing, which may apply to any of the Transactions. In such circumstances each Party shall
                                            cooperate with each other (where necessary) and provide all reasonable assistance to satisfy
                                            any mandatory pre-Completion filing requirements of the Egyptian Competition Authority, to
                                            the extent: (a) the Egyptian Competition Law is amended or replaced in such manner that requires
                                            a pre-Completion filing and such changes have come into effect prior to the Completion Date;
                                            and (b) any of the Transactions meet the relevant filing threshold and/or requirements for
                                            a pre-Completion filing to be necessary.

 

		8.3	A15 and Connect Ads shall, following Completion,
                                            and subject to applicable law, provide reasonable assistance to Aleph Cayman and Httpool
                                            (including by the exercise of any voting rights within their control or direction) in relation
                                            to:

 

		(a)	the amendment of the Articles of Association
                                            of Connect Ads Egypt to reflect:

 

		(i)	Amendment of Article (55) to eliminate the
                                            distribution of dividends to its board members; and

 

		(ii)	Amendment of Article (26) to determine
                                            the minimum number for the convening of board meetings to be one (1) for each financial year;
                                            and

 

		(b)	the appointment and removal of the managers
                                            and directors in each of Connect Ads Group Company as nominated by Aleph Cayman and/or Httpool
                                            and granting them the authority powers as determined by Aleph Cayman and/or Httpool.

 

		9.	A15 Warranties and Connect Ads Warranties

 

		9.1	Connect Ads warrants to:

 

		(a)	Aleph Cayman, IMS and Httpool that each
                                            of the Connect Ads Warranties is (or in the case of Aleph Cayman, was) true and accurate
                                            as at the Signature Date (by reference to the facts and circumstances existing at the Signature
                                            Date); and

 

		(b)	Aleph Cayman and Httpool that each of
                                            the Connect Ads Warranties is true at Completion (by reference to the facts and circumstances
                                            existing at Completion).

 

		9.2	Each of the Connect Ads Warranties shall be
                                            separate and independent and (unless expressly provided otherwise) shall not be limited by
                                            reference to any other Connect Ads Warranty.

 

		9.3	A15 warrants to:

 

		(a)	Aleph Cayman, IMS and Httpool that each
                                            of the A15 Warranties is (or in the case of Aleph Cayman, was) true and accurate as at the
                                            Signature Date (by reference to the facts and circumstances existing at the Signature Date);
                                            and

 

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		(b)	Aleph Cayman and Httpool that each of
                                            the A15 Warranties is true at Completion (by reference to the facts and circumstances existing
                                            at Completion).

 

		9.4	Each of the A15 Warranties shall be separate
                                            and independent and (unless expressly provided otherwise) shall not be limited by reference
                                            to any other A15 Warranty.

 

		9.5	The disclosures made by A15 to IMS and Httppol
                                            in the A15 Disclosure Letter shall be deemed to have also been made by A15 to Aleph Cayman.

 

		9.6	A15 may, not later than five (5) Business
                                            Days prior to the Completion Date, deliver to Aleph Cayman and Httpool the A15 Supplemental
                                            Disclosure Letter containing specific disclosures against the A15 Warranties in relation
                                            to any matters or circumstances that have arisen after the Signature Date.

 

		9.7	Aleph Cayman and/or Httpool may terminate
                                            this Agreement with immediate effect by delivering a written notice to the other Parties,
                                            subject to, and on the basis set out in, Clause 16 (Termination), if:

 

		(a)	any matter (or matters) described in the
                                            A15 Supplemental Disclosure Letter (or which Aleph Cayman and/or Httpool otherwise become
                                            aware of at any time prior to Completion) would constitute a breach of any of the A15 Fundamental
                                            Warranties at or following Completion if Completion was to occur; or

 

		(b)	any matter (or matters) described in the
                                            A15 Supplemental Disclosure Letter (or which Aleph Cayman and/or Httpool otherwise become
                                            aware of at any time prior to Completion) is (are) reasonably likely to result in Aleph Cayman
                                            or Httpool suffering a loss in excess five million dollars US Dollars (US$5,000,000), in
                                            aggregate, at or following Completion, if Completion was to occur.

 

		9.8	If the matters disclosed in the A15 Supplemental
                                            Disclosure Letter do not give rise to a right to terminate this Agreement in accordance with
                                            Clause 9.7 (A15 Warranties and Connect Ads Warranties), the A15 Warranties shall not
                                            be qualified by any facts, matters and information contained in the A15 Supplemental Disclosure
                                            Letter and Httpool and Aleph Cayman shall have the right to bring a claim for breach of any
                                            of the A15 Warranties, notwithstanding the disclosure of such facts, matters or information
                                            in the A15 Supplemental Disclosure Letter.

 

		9.9	A15 undertakes to irrevocably waive any right
                                            and claim which it may have against the Connect Ads Group or any Agent of the Connect Ads
                                            Group arising in connection with this Agreement or any other Transaction Document, save in
                                            the case of fraud.

 

		10.	Httpool, IMS and Aleph Cayman Warranties

 

		10.1	Httpool warrants to A15 that each of the
                                            Httpool Warranties is true and accurate as at the Signature Date (by reference to the facts
                                            and circumstances existing at the Signature Date) and is true at Completion (by reference
                                            to the facts and circumstances existing at Completion).

 

		10.2	Each of the Httpool Warranties shall be separate
                                            and independent and (unless expressly provided otherwise) shall not be limited by reference
                                            to any other Httpool Warranty.

 

		10.3	IMS warrants to A15 that each of the IMS
                                            Warranties is true and accurate as at the Signature Date (by reference to the facts and circumstances
                                            existing at the Signature Date).

 

		10.4	Each of the IMS Warranties shall be separate
                                            and independent and (unless expressly provided otherwise) shall not be limited by reference
                                            to any other IMS Warranty.

 

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		10.5	Aleph Cayman warrants
                                            to A15 that:

 

		(a)	each
                                            of the IMS Warranties was true and accurate at the Signature Date (by reference to the facts
                                            and circumstances existing at the Signature Date); and

 

		(b)	each
                                            of the Aleph Cayman Warranties is true at Completion (by reference to the facts and circumstances
                                            existing at Completion).

 

		10.6	Each
                                            of the Aleph Cayman Warranties shall be separate and independent and (unless expressly provided
                                            otherwise) shall not be limited by reference to any other Aleph Cayman Warranty.

 

		10.7	The
                                            disclosures made by IMS to A15 in the IMS Disclosure Letter shall be deemed to have also
                                            been made by Aleph Cayman to A15.

 

		10.8	Aleph
                                            Cayman may, not later than five (5) Business Days prior to the Completion Date, deliver to
                                            A15 the IMS Supplemental Disclosure Letter containing specific disclosures against the Aleph
                                            Cayman Warranties in relation to any matters or circumstances that have arisen after the
                                            Signature Date.

 

		10.9	A15
                                            may terminate this Agreement with immediate effect by delivering a written notice to the
                                            other Parties, subject to, and on the basis set out in, Clause 16 (Termination), if:

 

		(a)	any
                                            matter (or matters) described in the IMS Supplemental Disclosure Letter (or which A15 otherwise
                                            becomes aware of at any time prior to Completion) would constitute a breach of any of the
                                            IMS Fundamental Warranties or following Completion if Completion was to occur; or

 

		(b)	any
                                            matter (or matters) described in the IMS Supplemental Disclosure Letter (or which A15 otherwise
                                            becomes aware of at any time prior to Completion) is (are) reasonably likely to result in
                                            A15 suffering a loss in excess of five million US Dollars (US$5,000,000), in aggregate, at
                                            or following Completion, if Completion was to occur.

 

		10.10	If
                                            the matters disclosed in the IMS Supplemental Disclosure Letter do not give rise to a right
                                            to terminate this Agreement in accordance with Clause 10.9, the Aleph Cayman Warranties shall
                                            not be qualified by any facts, matters and information contained in the IMS Supplemental
                                            Disclosure Letter and A15 shall have the right to bring a claim for breach of any of the
                                            Aleph Cayman Warranties, notwithstanding the disclosure of such facts, matters or information
                                            in the IMS Supplemental Disclosure Letter.

 

		10.11	Each
                                            of Aleph Cayman, IMS and Httpool undertakes to irrevocably waive any right and claim which
                                            it may have against any Agent of the IMS Group arising in connection with this Agreement
                                            or any other Transaction Document, save in the case of fraud.

 

		11.	Indemnities

 

		11.1	Without
                                            limiting any other rights or remedies Aleph Cayman, IMS or Httpool may have, A15 shall indemnify
                                            and hold Aleph Cayman, IMS and Httpool, Connect Ads and Connect Ads Italy harmless from and
                                            against in the case of Aleph Cayman, IMS and Httpool one hundred per cent. (100%) minus the
                                            Consideration Shares Percentage of all Losses and in the case of Connect Ads Italy and Connect
                                            Ads eighty-six per cent. (86%) of all Losses, suffered or incurred by them, arising out of
                                            or in connection with any failure by Connect Ads Italy to:

 

		(a)	enter
                                            into a data processing agreement with each Specified Customer and Agency prior to Completion;
                                            or

 

		(b)	otherwise
                                            establish a legitimate interest to process the relevant personal data of each Specified Customer
                                            and Agency prior to Completion, which results in a breach of any data privacy regulations
                                            applicable to Connect Ads Italy, including: (a) GDPR (Regulation EU/2016/679) (the “GDPR”)
                                            and (b) Italian Legislative Decree 101/2018 which harmonizes the Italian data protection
                                            laws with the GDPR.

 

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		11.2	Without
                                            limiting any other rights or remedies A15 may have, Aleph Cayman shall indemnify and hold
                                            harmless A15 from and against all Losses suffered or incurred by it, arising out of or in
                                            connection with any of the following matters:

 

		(a)	any
                                            failure by Aleph Cayman or IMS to obtain, prior to Completion, the Citi Consent and Waiver
                                            and/or the UniCredit Consent and Waiver; and

 

		(b)	any
                                            failure to pay the Akuma Outstanding Amount.

 

		11.3	Aleph
                                            Cayman covenants to pay to A15, on demand, an amount equal to US$2,000,000 multiplied by
                                            the Consideration Shares Percentage in the event that Httpool Latvia SIA fails to repay in
                                            full all amounts outstanding pursuant to the loan from Httpool Latvia SIA to Latam prior
                                            to December 31, 2021.

 

		11.4	A15
                                            covenants to pay to Aleph Cayman, on demand, an amount equal to US$288,948 multiplied by
                                            eighty six per cent. (86%) in the event that A15 fails to repay in full the US$288,948 owed
                                            to Connect Ads Egypt prior to December 31, 2021.

 

		11.5	The
                                            Connect Ads Tax Covenant and the IMS Tax Covenant shall apply with effect from Completion.

 

		12.	Leakage

 

		12.1	A15:

 

		(a)	warrants
                                            to each of Aleph Cayman and Httpool that from (but excluding) the Connect Ads Locked-Box
                                            Date to (and including) the Signature Date, there has been; and

 

		(b)	undertakes
                                            to each of Aleph Cayman and Httpool that from the Signature Date to (and including) the Completion
                                            Date, there will be,

 

no
Connect Ads Leakage.

 

		12.2	Aleph Cayman:

 

		(a)	warrants
                                            to A15 that from (but excluding) the IMS Locked-Box Date to (and including) the Signature
                                            Date, there has been; and

 

		(b)	undertakes to A15
                                            that from the Signature Date to (and including) the Completion Date, there will be,

 

no IMS
Leakage.

 

		12.3	A15
                                            undertakes to notify each of Aleph Cayman and Httpool in writing as soon as reasonably practicable
                                            upon becoming aware of any breach of Clause 12.1 (Leakage) including reasonable details
                                            (insofar as they are known to A15) of the Connect Ads Leakage concerned and, as far as is
                                            reasonably practicable, an estimate of the quantum of such Connect Ads Leakage and Aleph
                                            Cayman undertakes to A15 to notify A15 in writing as soon as reasonably practicable upon
                                            becoming aware of any breach of Clause 12.2 (Leakage) including reasonable details
                                            (insofar as they are known to Aleph Cayman) of the IMS Leakage concerned and, as far as is
                                            reasonably practicable, an estimate of the quantum of such IMS Leakage.

 

		12.4	If
                                            Httpool is notified of any Connect Ads Leakage by A15, or any Connect Ads Leakage otherwise
                                            comes to the attention of Httpool, prior to Completion, then, subject to A15 agreeing that
                                            such Connect Ads Leakage has occurred and agreeing the amount to be paid by A15 (as determined
                                            pursuant to Clause 12.7 (Leakage)), in respect of such Connect Ads Leakage (an “Agreed
                                            Connect Ads/Httpool Leakage Amount”), an amount corresponding to such Agreed Connect
                                            Ads/Httpool Leakage Amount shall be deducted from the Sale Share Consideration to be paid
                                            by Httpool to A15 (by reducing the amount of Cash Consideration to be paid to A15 at Completion).

 

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		12.5	If
                                            Aleph Cayman is notified of any Connect Ads Leakage by A15, or any Connect Ads Leakage otherwise
                                            comes to the attention of Aleph Cayman, prior to Completion then, subject to A15 agreeing
                                            that such Connect Ads Leakage has occurred and agreeing the amount to be paid by A15 (as
                                            determined pursuant to Clause 12.8 (Leakage)) in respect of such Connect Ads Leakage
                                            (an “Agreed Connect Ads/IMS Leakage Amount”), an amount corresponding
                                            to such Agreed Connect Ads/IMS Leakage Amount shall be paid by A15 to Aleph Cayman at Completion.

 

		12.6	If
                                            A15 is notified of any IMS Leakage by Aleph Cayman, or any IMS Leakage otherwise comes to
                                            the attention of A15, prior to Completion then, subject to Aleph Cayman agreeing that such
                                            IMS Leakage has occurred and agreeing the amount, to be paid by Aleph Cayman (as determined
                                            pursuant to Clause 12.9 (Leakage)) in respect of such IMS Leakage (an “Agreed
                                            IMS Leakage Amount”), an amount corresponding to such Agreed IMS Leakage Amount
                                            shall be paid by Aleph Cayman to A15 at Completion.

 

		12.7	If
                                            Httpool is notified of any Connect Ads Leakage by A15, or any Connect Ads Leakage otherwise
                                            comes to the attention of Httpool after the Completion Date, A15 covenants to pay to Httpool,
                                            on demand, an amount in cash, in US$, equal to:

 

		(a)	fifty-one
                                            per cent. (51%) of such Connect Ads Leakage, net of: (a) any actual cash Tax saving or benefit
                                            that has arisen as a result of any Relief that is or will be available after Completion to
                                            Httpool, any member of the Httpool Group or any Connect Ads Group Company in connection with
                                            such Connect Ads Leakage; and (b) any amount in respect of VAT which is recoverable by any
                                            Connect Ads Group Company in connection with such Leakage; plus

 

		(b)	an
                                            amount equal to all costs and expenses reasonably and properly incurred by Httpool in connection
                                            with Httpool bringing any claim for breach of Clause 12.1 (Leakage).

 

		12.8	If
                                            Aleph Cayman is notified of any Connect Ads Leakage by A15, or any Connect Ads Leakage otherwise
                                            comes to the attention of Aleph Cayman after the Completion Date, A15 covenants to pay to
                                            Aleph Cayman, on demand, an amount in cash, in US$, equal to:

 

		(a)	thirty-five
                                            per cent. (35%) of such Connect Ads Leakage, net of: (a) any actual cash Tax saving or benefit
                                            that has arisen as a result of any Relief that is or will be available after Completion to
                                            Aleph Cayman, any member of the IMS Group or any Connect Ads Group Company in connection
                                            with such Connect Ads Leakage; and (b) any amount in respect of VAT which is recoverable
                                            by any Connect Ads Group Company in connection with such Leakage, plus

 

		(b)	an
                                            amount equal to all costs and expenses reasonably and properly incurred by Aleph Cayman in
                                            connection with Aleph Cayman bringing any claim for breach of Clause 12.1 (Leakage).

 

		12.9	If
                                            A15 is notified of any IMS Leakage by Aleph Cayman, or any IMS Leakage otherwise comes to
                                            the attention of A15 after the Completion Date, Aleph Cayman covenants to pay to A15, on
                                            demand, an amount in cash, in US$, equal to:

 

		(a)	100%
                                            divided by (100% minus the Consideration Shares Percentage) of the Consideration Shares Percentage
                                            of such IMS Leakage (for example (100% / (100% - 4.41%) x 4.41%) x 100 = 4.61%), net of the
                                            Consideration Shares Percentage of (a) any actual cash Tax saving or benefit that has arisen
                                            as a result of any Relief that is or will be available after Completion to A15 or any member
                                            of the A15 Group; (b) the Consideration Shares Percentage multiplied by the IMS Proportion
                                            of any actual cash Tax saving or benefit that has arisen as a result of any Relief that is
                                            or will be available after Completion to any IMS Group Company in connection with such IMS
                                            Leakage; and (c) the Consideration Shares Percentage multiplied by the IMS Proportion of
                                            any amount in respect of VAT which is recoverable by any IMS Group Company in connection
                                            with such Leakage; plus

 

		(b)	an
                                            amount equal to all costs and expenses reasonably and properly incurred by A15 in connection
                                            with A15 bringing any claim for breach of Clause 12.2 (Leakage).

 

    37

     

    

 

		12.10	In
                                            the case of disagreement between the Parties as to any Connect Ads Leakage which cannot be
                                            resolved within thirty (30) Business Days after Httpool or Aleph Cayman (as applicable) is
                                            notified of or becomes aware of such Connect Ads Leakage, then the Parties shall submit such
                                            dispute to the Leakage Expert pursuant to Clause 12.12 (Leakage).

 

		12.11	In
                                            the case of disagreement between the Parties as to the IMS Leakage which cannot be resolved
                                            within thirty (30) Business Days after A15 is notified of or becomes aware of such IMS Leakage
                                            then the Parties shall submit such dispute to the Leakage Expert pursuant to Clause 12.12
                                            (Leakage).

 

		12.12	In
                                            the event there is no agreement as to the amount of any Connect Ads Leakage in accordance
                                            with Clause 12.10 (Leakage) or IMS Leakage in accordance with Clause 12.11 (Leakage),
                                            then A15, Httpool or Aleph Cayman may, at the later of (a) the expiry of such period; or
                                            (b) Completion, appoint Ernst & Young or another internationally-recognized independent
                                            accounting firm that is mutually approved by A15, Httpool and Aleph Cayman (or in the absence
                                            of such agreement within five (5) Business Days of any party’s request, designated
                                            by the then President of the Institute of Chartered Accountants in England and Wales or his
                                            deputy upon the application of either party) (the “Leakage Expert”) to
                                            resolve the disputed portion of the Connect Ads Leakage or the IMS Leakage, as applicable.
                                            The Leakage Expert shall act as an expert and not an arbitrator, and its determination shall
                                            be final and will be binding on the Parties, save for any manifest error. Each of A15, Httpool
                                            and Aleph Cayman shall be entitled to make written submissions to the Leakage Expert and
                                            shall provide the Leakage Expert with such information and assistance as it may reasonably
                                            require for purposes of reaching its decision. A15 and Aleph Cayman will each bear an equal
                                            portion of the fees and expenses of the Leakage Expert incurred in connection with any such
                                            determination.

 

		12.13	The
                                            liability of each of A15 and Aleph Cayman under this Clause 12 (Leakage) shall terminate
                                            on the expiry of the period of six (6) months following the Completion Date, save in respect
                                            of any claim for breach of this Clause 12 (Leakage) of which a Party has given notice
                                            in writing to the other Party before the expiry of that period containing reasonable details
                                            of the relevant breach and of the calculation of the amounts claimed, provided that any such
                                            claim shall (if not previously satisfied, settled or withdrawn) be deemed to have been withdrawn
                                            and shall determine absolutely unless arbitral proceedings in respect of it have been commenced
                                            (by a request for arbitration) within nine (9) months of such written notice being given
                                            to the relevant Party.

 

		12.14	Notwithstanding
                                            any other provision in this Agreement, no Party shall have any liability to any other Party
                                            under this Clause 12 (Leakage) if Completion does not occur.

 

		12.15	Nothing
                                            in this Clause 12 (Leakage) shall have the effect of limiting or excluding any liability
                                            arising as a result of fraud.

 

    38

     

    

 

		13.	Qualifying
                                            IPO

 

		13.1	The Parties acknowledge
                                            and agree that:

 

		(a)	Aleph Cayman may,
                                            at any time prior to Completion, undertake a Qualifying IPO; and

 

		(b)	Aleph Cayman shall:

 

		(i)	keep
                                            A15 reasonably informed in connection with the Qualifying IPO; and

 

		(ii)	provide
                                            A15 with a reasonable opportunity to review and comment on (A) the financial statements of
                                            the Connect Ads Group and IMS Group to be used as the basis for valuation for the Qualifying
                                            IPO; and (B) the prospectus and/or admission document in respect of the Qualifying IPO and
                                            take account of A15’s comments.

 

		13.2	If
                                            a Qualifying IPO occurs at any time prior to Completion, then immediately following Completion,
                                            A15 shall sell, and Aleph shall purchase, the number of shares in the share capital of Aleph
                                            Cayman equal to:

 

		(a)	the
                                            proportion that the total number of shares in the share capital of Aleph Cayman sold by all
                                            the shareholders of Aleph Cayman in the Qualifying IPO bears to the total number of shares
                                            in the share capital of Aleph Cayman held by such shareholders immediately prior to the Qualifying
                                            IPO; multiplied by

 

		(b)	the
                                            number of Consideration Shares,

 

(the
 “Pre-Completion IPO Sale Shares”) at the same price as the shares sold by the selling shareholders in the Qualifying
IPO.

 

The completion
of the sale and purchase of the Pre-Completion IPO Sale Shares, shall take place immediately following Completion on the Completion Date
at the registered offices of IMS at 1441 Brickell Avenue, Suite 1530, Miami, FL 33131, USA or such other time, date and/or place as is
agreed in writing by A15 and Aleph. The provision of Clauses 2 (Sale and Purchase of the Sale Shares and the Swap Shares) and
7.1 (Completion) and paragraphs 1.1, 1.2 and 3.4 of Part 2 of Schedule 5 (Completion Arrangements) shall apply mutatis
mutandis to the sale and purchase of the Pre-Completion IPO Sale Shares.

 

		13.3	If
                                            a Qualifying IPO occurs at any time after Completion, then Aleph shall procure that A15 is
                                            able to sell in the Qualifying IPO the number of shares in the share capital of Aleph Cayman
                                            equal to:

 

		(a)	the
                                            proportion that the total number of shares in the share capital of Aleph Cayman to be sold
                                            by all the shareholders of Aleph Cayman in the Qualifying IPO bears to the total number of
                                            shares in the share capital of Aleph Cayman held by such shareholders immediately prior to
                                            the Qualifying IPO; multiplied by

 

		(b)	the
                                            number of shares in the share capital of Aleph Cayman held by A15 immediately prior to the
                                            Qualifying IPO.

 

		14.	A15 Put Option
                                            and A15 Anti-Embarrassment Protection

 

		14.1	The Parties acknowledge
                                            and agree that:

 

		(a)	the
                                            provisions of Schedule 7 (A15 Put Option) shall apply in respect of any Put Option
                                            Trigger Event; and

 

		(b)	the
                                            provisions of Schedule 8 (A15 Anti-Embarrassment Protection) shall apply in respect
                                            of any IMS Acquisition and/or IMS Disposal.

 

    39

     

    

 

		14.2	Notwithstanding
                                            any other provision of this Agreement, Aleph Cayman shall procure that:

 

		(a)	in
                                            the case of a Qualifying IPO, the economic rights of A15 are not adversely affected; and
                                            (ii) in the case of an IMS Acquisition and/or IMS Disposal, any rights of A15 (including
                                            any economic rights) are not adversely affected;

 

		(b)	without
                                            limiting Clause 14.2(a) (A15 Put Option and A15 Anti-Embarrassment Protection), A15
                                            will not be disproportionately adversely affected in comparison with Aleph or any other shareholder
                                            in Aleph Cayman by any Put Option Trigger Event, IMS Acquisition and/or IMS Disposal; and

 

		(c)	until
                                            the later of the Put Option Completion Date and the second (2nd) anniversary of
                                            the Completion Date:

 

		(i)	the
                                            business of the Connect Ads Group is conducted in the ordinary course of business consistent
                                            with past practice and with a good faith view to maximizing the consolidated earnings before
                                            interest, tax depreciation and amortization of the Connect Ads Group;

 

		(ii)	no
                                            Connect Ads Group Company shall do any of the actions specified in Clauses 5.1 (a), (c),
                                            (d), (g), (k), (l) or (m);

 

		(iii)	no
                                            IMS Group Company shall acquire or incorporate any subsidiary or branch in any jurisdiction
                                            in which a Connect Ads Group Company is currently incorporated other than IMS’s current
                                            operations in Italy and Httpool’s current operation in Dubai; and

 

		(iv)	no
                                            enquiries, orders or contracts received relating to the business conducted by the Connect
                                            Ads Group are diverted, referred, transferred or reallocated to any entity that is not a
                                            member of the Connect Ads Group,

 

in each
case, without the prior written consent of A15.

 

		14.3	Following
                                            Completion and during the Put Option Period, Aleph Cayman shall deliver to A15, not later
                                            than twenty (20) Business Days after the end of each calendar month:

 

		(a)	consolidated
                                            financial statements for the IMS Group (including standalone financial statements for each
                                            member of the IMS Group), for the 12 month period ending on the last day of such calendar
                                            month, in the format and prepared in accordance with the policies agreed in accordance with
                                            paragraph 6 of Part 1 of Schedule 4 (Pre-Completion Conditions); and

 

		(b)	consolidated
                                            financial statements for the Connect Ads Group (including standalone financial statements
                                            for each member of the Connect Ads Group), for the 12 month period ending on the last day
                                            of such calendar month, in the format and prepared in accordance with the policies agreed
                                            in accordance with paragraph 7 of Part 1 of Schedule 4 (Pre-Completion Conditions).

 

		14.4	For
                                            the purposes of Clauses 14.2 (A15 Put Option and A15 Anti-Embarrassment Protection), and
                                            14.3 (A15 Put Option and A15 Anti-Embarrassment Protection), references to the “Connect
                                            Ads Group” and the “IMS Group” shall be deemed to include all subsidiaries
                                            of Connect Ads and Aleph Cayman respectively from time to time (including, for the avoidance
                                            of doubt any subsidiary acquired at any time after the Completion Date).

 

		14.5	IMS
                                            shall promptly provide to A15 any information reasonably requested by A15 in connection with
                                            any Put Option Trigger Event, any IMS Acquisition and/or IMS Disposal.

 

    40

     

    

 

		15.	Aleph
                                            Undertakings

 

		15.1	Aleph
                                            covenants and undertakes to A15 that save for the IMS Permitted Actions, during the period
                                            of 6 months following the Signature Date, it shall not, directly or indirectly sell, transfer
                                            or otherwise dispose of, nor create any Encumbrance over, any of the shares it owns in the
                                            share capital of Aleph Cayman, nor any interest in such shares, nor enter into any agreement
                                            to do the same, in each case, other than in connection with the CVC Transaction or a Qualifying
                                            IPO.

 

		15.2	Aleph
                                            covenants and undertakes to A15 that it shall procure that Aleph Cayman and IMS, at all times,
                                            comply in all respects with their obligations under:

 

		(a)	Clause
                                            3 (Consideration for the Sale Shares and the Swap Shares);

 

		(b)	Clause
                                            13 (Qualifying IPO);

 

		(c)	Clause
                                            14 (A15 Put Option and A15 Anti-Embarrassment Protection);

 

		(d)	Schedule
                                            7 (A15 Put Option); and

 

		(e)	Schedule
                                            8 (A15 Anti-Embarrassment Protection).

 

		16.	Termination

 

		16.1	This Agreement may be
                                            terminated:

 

		(a)	by
                                            mutual written agreement of the Parties; or

 

		(b)	in
                                            accordance with Clause 4.16 (Pre-Completion Conditions), Clause 7.3 (Completion),
                                            Clause 9.7 (A15 Warranties and Connect Ads Warranties), Clause 10.9 (Httpool, IMS
                                            and Aleph Cayman Warranties).

 

		16.2	Save
                                            for the Parties’ express rights to terminate this Agreement as set out in Clause 16.1
                                            (Termination), no Party shall be entitled to rescind or terminate this Agreement,
                                            whether before or after Completion, and each Party waives all and any rights of rescission
                                            which it may have in respect of any matter to the full extent permitted by law, other than
                                            such rights in respect of fraud. Without prejudice to the generality of the foregoing, the
                                            Parties agree that the remedy of rescission is excluded in relation to all matters and shall
                                            not be available, save in respect of fraud or willful misconduct.

 

		16.3	If this Agreement is
                                            terminated by:

 

		(a)	any
                                            Party pursuant to Clause 4.16 (Pre Completion Conditions), solely as a result of any
                                            Regulatory Pre Completion Conditions, the DMCCA Pre-Completion Condition, the No-Injunction
                                            Pre-Completion Condition or any Pre Completion Conditions in paragraphs 1, 2 or 8 of Part
                                            1 of Schedule 4 (Pre-Completion Conditions) not being satisfied; or

 

		(b)	Aleph
                                            Cayman, IMS and/or Httpool (as applicable) pursuant to:

 

		(i)	Clause
                                            7.3 (Completion) as a result of A15’s failure to fulfill its Completion obligations
                                            pursuant to Part 1 of Schedule 5 (Completion Arrangements); or

 

		(ii)	Clause
                                            9.7 (A15 Warranties and Connect Ads Warranties),

 

then
Escrow Amount 3 shall be released to Httpool.

 

		16.4	If
                                            this Agreement is terminated by any Party for any reason other than those specified in Clause
                                            16.3, then Escrow Amount 3 shall be released to A15 as liquidated damages and the Parties
                                            acknowledge and agree that such amount represents a genuine pre-estimate of the losses suffered
                                            or incurred by A15 in connection with its due diligence of the IMS Group and the negotiation,
                                            preparation and performance of this Agreement and each other Transaction Document.

 

		16.5	The
                                            rights and obligations of the Parties under this Agreement shall cease immediately, save
                                            in respect of antecedent breaches and under the Continuing Provisions.

 

    41

     

    

 

		17.	Failure to Complete

 

Subject
in all respects to all applicable law, in the event this Agreement is terminated in accordance with Clause 16 (Termination):

 

		(a)	A15
                                            shall, and shall procure that each member of the A15 Group (including each member of the
                                            Connect Ads Group) shall, not compete with any member of the IMS Group for any digital media
                                            company representation, which shall include but not be limited to, approaching or contacting,
                                            attempting to do business with or engaging, any of the commercial partners of any member
                                            of the IMS Group, in any Applicable IMS Territories;

 

		(b)	A15
                                            shall, and shall procure that each member of the A15 Group (including each member of the
                                            Connect Ads Group) shall, not approach or contact, attempt to do business with or engage,
                                            any of the existing commercial partners of any member of the IMS Group in Italy or the UAE;

 

		(c)	Aleph
                                            Cayman and IMS shall, and shall procure that each member of the Aleph Group, the IMS Group
                                            and Httpool shall, not compete with any member of the A15 Group (including any member of
                                            the Connect Ads Group) for any digital media company representation (which shall include
                                            but not be limited to, approaching or contacting, attempting to do business with or engaging,
                                            any of the commercial partners of any member of the A15 Group) (including any member of the
                                            Connect Ads Group) in any Applicable Connect Ads Territories; and

 

		(d)	Aleph
                                            Cayman and IMS shall, and shall procure that each member of the Aleph Group, the IMS Group
                                            and Httpool shall not approach or contact, attempt to do business with or engage, any of
                                            the existing commercial partners of any member of the A15 Group (including any member of
                                            the Connect Ads Group) in Italy or the UAE,

 

in
each case for a period of three (3) years from the Signature Date.

 

		18.	Confidentiality

 

		18.1	Save
                                            as expressly provided in Clause 18.3 (Confidentiality), A15 shall, and shall procure
                                            that each member of the A15 Group shall, treat as confidential the provisions of this Agreement
                                            and the other Transaction Documents and all information it has received or obtained relating
                                            to the Aleph Group and/or the IMS Group as a result of negotiating or entering into the Transaction
                                            Documents.

 

		18.2	Save
                                            as expressly provided in Clause 18.3 (Confidentiality), each of Aleph Cayman, IMS
                                            and Httpool shall, and IMS shall procure that each member of the Aleph Group and the IMS
                                            Group shall, treat as confidential the provisions of this Agreement and the other Transaction
                                            Documents and all information it has received or obtained about the A15 Group and prior to
                                            Completion, the Connect Ads Group as a result of negotiating or entering into the Transaction
                                            Documents.

 

    42

     

    

 

		18.3	A
                                            Party may disclose, or permit the disclosure of, information which would otherwise be confidential
                                            if and to the extent that it:

 

		(a)	is
                                            disclosed to Agents of that Party or the other members of the Relevant Party’s Group,
                                            if this is reasonably required in connection with this Agreement including the Transactions
                                            (and provided that such persons are required to treat that information as confidential);
                                            or

 

		(b)	is
                                            required by law or any securities exchange, regulatory or governmental body or Taxation Authority;
                                            or

 

		(c)	was
                                            already in the lawful possession of that Party or its Agents without any obligation of confidentiality
                                            (as evidenced by written records); or

 

		(d)	is
                                            in the public domain at the Signature Date or comes into the public domain other than as
                                            a result of a breach by a Party of this Clause 18 (Confidentiality); or

 

		(e)	is
                                            disclosed in connection with a Qualifying IPO; or

 

		(f)	is
                                            disclosed in connection with the CVC Transaction (provided that such persons to whom
                                            it is disclosed in connection therewith are required to treat that information as confidential),

 

provided
that, to the extent permitted by applicable Law, prior written notice of any confidential information to be disclosed pursuant to Clause
18.3(b) (Confidentiality) shall be given to the other Parties.

 

		18.4	The
                                            confidentiality restrictions in this Clause 18 (Confidentiality) shall continue to
                                            apply after the termination of this Agreement without limit in time.

 

		18.5	The
                                            Parties agree that without prejudice to any other rights or remedies that a Party may have
                                            in this Agreement, breach of this Clause 18 (Confidentiality) or Clause 19 (Announcements)
                                            may cause serious loss or damage to a Party and its Connected Persons and that monetary damages
                                            may not be an adequate remedy for any such breach or threatened breach of the provisions
                                            of this Clause 18 (Confidentiality) or Clause 19 (Announcements). Accordingly,
                                            each Party shall be entitled to apply for specific performance, injunctive relief and any
                                            other form of equitable relief or any combination of these remedies in order to enforce this
                                            Clause 18 (Confidentiality) or Clause 19 (Announcements) in addition to any
                                            other available remedies.

 

		19.	Announcements

 

		19.1	No
                                            announcement, communication or circular concerning the existence or provisions of this Agreement
                                            (including the Transactions) or any other Transaction Document shall be made or issued by
                                            or on behalf of any Party or any member of the Relevant Party’s Group (as applicable)
                                            without the prior written approval of each other Party (such consent not to be unreasonably
                                            withheld or delayed). This shall not affect any announcement, communication or circular required
                                            by law or any governmental or regulatory body, court order or the rules of any relevant stock
                                            exchange, but then only to the extent so required, and the Party with an obligation to make
                                            an announcement or communication or issue a circular shall consult with the other Party insofar
                                            as is reasonably practicable before complying with such an obligation.

 

		19.2	The
                                            Parties acknowledge and agree that IMS may, following receipt by A15 and IMS of written notice
                                            from the Escrow Agent confirming receipt of Escrow Amount 3 into the Escrow Account in accordance
                                            with the terms of the Escrow Agreement, make an announcement, which shall be in a form agreed
                                            to in writing by A15. If IMS makes an announcement in accordance with the preceding sentence,
                                            then A15 shall also be entitled to make an announcement in a form to be agreed in writing
                                            by IMS.

 

    43

     

    

 

		20.	Further Assurance

 

Each
Party undertakes that it shall execute and deliver or procure to be done, executed and delivered all such further acts, documents and
things reasonably required by any other Party in order to give full effect to this Agreement.

 

		21.	Effect of
                                            Completion

 

The
provisions of this Agreement and of the other Transaction Documents which remain to be performed following Completion shall continue
in full force and effect, notwithstanding Completion taking place.

 

		22.	Assignment

 

No Party
may assign, transfer, create an Encumbrance, declare a trust of or otherwise dispose of all or any part of its rights and benefits under
this Agreement (including any cause of action arising in connection with any of them) without the prior written consent of the other
Parties.

 

		23.	Payment

 

		23.1	Subject
                                            to Clause 23.2 (Payment), any payments pursuant to this Agreement shall be made in
                                            full, without any set-off, counterclaim and without any deduction or withholding, unless
                                            required by applicable law.

 

		23.2	For
                                            the three (3) year period following Completion, Httpool or Aleph Cayman (as the case may
                                            be) may set-off any dividends that would otherwise be payable by Connect Ads to A15 against
                                            any amount under this Agreement that is finally due and payable by A15 to Httpool or Aleph
                                            Cayman (as the case may be) pursuant to a final and binding arbitral award made in accordance
                                            with Clause 33 (Governing Law and Submission to Jurisdiction) in respect of which
                                            there is no further right of appeal. A15 agrees that any such payment by Connect Ads to Httpool
                                            or Aleph Cayman shall be deemed to be have been made as a result of a payment direction from
                                            A15 to Connect Ads.

 

		23.3	All
                                            payments to be made by A15 to Httpool, Aleph Cayman or IMS pursuant to this Agreement shall
                                            be made in US$ and transferred to a bank account notified in writing by Httpool, Aleph Cayman
                                            and/or IMS (as applicable) to A15 by wire transfer in immediately available cleared funds.

 

		23.4	All
                                            payments to be made by Httpool, Aleph Cayman or IMS to A15 pursuant to this Agreement shall
                                            be made in US$ and transferred to A15’s Designated Account by wire transfer in immediately
                                            available cleared funds.

 

		23.5	Any
                                            amount payable by A15, or at the direction of, A15 under this Agreement shall, so far as
                                            possible, be deemed to be a reduction of the Sale Share Consideration.

 

		23.6	Nothing
                                            contained in Clause 23.2 (Payment) shall:

 

		(a)	prejudice
                                            or limit any other rights or remedies that may be available to A15 or Aleph Cayman or IMS
                                            or Httpool to make any Claim or seek any other remedy in respect of any Claim or otherwise
                                            under the provisions of this Agreement; or

 

		(b)	limit
                                            the amount of any Claim which may be made under this Agreement by A15 or Aleph Cayman or
                                            IMS or Httpool.

 

    44

     

    

 

 

		23.7	If Aleph Cayman, IMS and/or Httpool is liable
                                            to make any payment in respect of any Claim (excluding any Claim pursuant to Clause 12.9),
                                            it shall pay to A15, an amount equal to:

 

		(a)	the
                                            amount of the Loss recovered pursuant to such Claim;

 

divided by:

 

		(b)	100%
                                            minus the Consideration Shares Percentage.

 

		24.	Costs
                                            and Expenses

 

		24.1	Except
                                            as provided otherwise, each Party shall pay its own costs and expenses (including taxation)
                                            in connection with the negotiation, preparation and performance of this Agreement and each
                                            other Transaction Document.

 

		24.2	Without
                                            limiting Clause 24.1, IMS shall bear all fees, costs and expenses (including with respect
                                            to notarizations, legislations, translations) of any filings, notifications or submissions
                                            made by Aleph Cayman and/or Httpool to any Governmental Authority in connection with the
                                            Transactions (including the costs of White & Case LLP in preparing the Turkish Competition
                                            Filing). A15 and Aleph Cayman will each bear an equal portion of the fees of White &
                                            Case LLP for the preparation of the Saudi Competition Filing and any associated filing fees,
                                            costs and expenses (including with respect to notarizations, legislations and translations).

 

		25.	Notices

 

		25.1	Any
                                            notice or other communication in connection with this Agreement (each, a “Notice”)
                                            shall be:

 

		(a)	in writing;

 

		(b)	in
                                            English; and

 

		(c)	delivered
                                            by hand or courier using an internationally recognized courier company or by email.

 

		25.2	A
                                            Notice shall be effective upon receipt and shall be deemed to have been received:

 

		(a)	at
                                            the time of delivery, if delivered by hand or courier; or

 

		(b)	at
                                            time of sending, if sent by email, provided that receipt shall not occur if the sender receives
                                            an automated message indicating that the message has not been delivered to the recipient,

 

provided that if deemed receipt of
any Notice occurs after 6.00 p.m. or is not on a Business Day, deemed receipt of the Notice shall be 9.00 a.m. on the next Business Day.
References to time in this Clause 25.2 (Notices) are to local time in the country of the addressee.

 

		25.3	The
                                            addresses and email addresses for service of Notice are:

 

A15:

 

	Name:	A15 Holding Netherlands B.V.
	Address:	                                      
	For the attention
    of:	                                      
	Email:	                                      

 

    45

     

    

 

Httpool:

 

	Name:	Httpool Holdings UK Limited
	Address:	                                      
	For the attention
    of:	                                      
	Email:	                                      

 

With Copy to:

 

	Name:	Httpool Holdings UK Limited
	Address:	                                      
	For the attention
    of:	                                      
	Email:	                                      

 

IMS:

 

	Name:	IMS Internet Media Services,
    Inc.
	Address:	                                      
	For the attention
    of:	                                      CEO
	Email:	                                      

 

With Copy to:

 

	Name:	IMS Internet Media Services,
    Inc.
	Address:	                                      
	For the attention
    of:	Legal Department
	Email:	                                      

 

Aleph:

 

	Name:	Aleph Internet Media Services, Inc.
	Address:	                                      
	For the attention of:	, Manager
	Email:	                                      

 

With Copy to:

 

	Name:	IMS Internet Media Services,
    Inc.
	Address:	                                      
	For the attention
    of:	Legal Department
	Email:	                                      

 

Aleph Cayman:

 

	Name:	Aleph Group, Inc.
	Address:	                                      
	For the attention
    of:	                                      ,
    Manager
	Email:	                                      

 

With Copy to:

 

	Name:	IMS Internet Media Services,
    Inc.
	Address:	                                      
	For the attention
    of:	Legal Department
	Email:	                                      

 

		25.4	A Party shall
                                            notify the other Parties of any change to its details in Clause 25.3 (Notices) in
                                            accordance with the provisions of this Clause 25 (Notices), provided that such notification
                                            shall only be effective on the later of the date specified in the notification and five (5)
                                            Business Days after deemed receipt.

 

    46

     

    

 

		26.	Entire Agreement

 

		26.1	This
                                            Agreement, together with the other Transaction Documents, constitutes the whole agreement
                                            between the Parties and supersedes any previous arrangements or agreements between them relating
                                            to the subject matter of this Agreement, including the Transactions.

 

		26.2	Each
                                            Party confirms that it has not entered into this Agreement or any other Transaction Document
                                            on the basis of any representation, warranty, undertaking or other statement whatsoever by
                                            another Party or any of its Related Parties which is not expressly incorporated into this
                                            Agreement or into any other Transaction Document and that, to the extent permitted by law,
                                            a Party shall have no right or remedy in relation to action taken in connection with this
                                            Agreement or any other Transaction Document other than pursuant to this Agreement or the
                                            relevant Transaction Document and each Party waives all and any other rights or remedies.

 

		26.2	A
                                            Party’s only right or remedy in respect of any
                                            provision of this Agreement or any other Transaction Document shall be for breach of this
                                            Agreement or that Transaction Document, and no Party shall have any right or remedy in respect
                                            of misrepresentation (whether negligent or innocent and whether made prior to and/or in this
                                            Agreement) and each Party waives all and any rights or remedies in respect of misrepresentation
                                            which it may have in relation to any matter to the fullest extent permitted by law.

 

		26.4	Save
                                            for any claim under or for breach of this Agreement or any other Transaction Document, no
                                            Party nor any of its Related Parties shall have any right or remedy, or make any claim, against
                                            another Party nor any of its Related Parties in connection with the subject matter of this
                                            Agreement or the Transactions.

 

		26.5	In
                                            this Clause 26 (Entire Agreement), “Related
                                            Parties” means, in relation to a Party,
                                            members of the Relevant Party’s Group and the
                                            Agents of that Party and of members of the Relevant Party’s
                                            Group.

 

		26.6	Nothing
                                            in this Agreement or the other Transaction Documents shall operate to limit or exclude any
                                            liability for fraud or wilful misconduct.

 

		27.	Severance
                                            and Validity

 

If any provision of this Agreement
is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, it shall be deemed to be severed from
this Agreement and the Parties shall use all reasonable endeavors to replace such provision with one having an effect as close as possible
to the deficient provision. The remaining provisions will remain in full force in that jurisdiction and all provisions will continue
in full force in any other jurisdiction.

 

		28.	Variations

 

No variation of this Agreement shall
be effective unless in writing and signed by or on behalf of the Parties.

 

		29.	Remedies
                                            and Waiver

 

		29.1	No
                                            waiver of any right under this Agreement shall be effective unless in writing. Unless expressly
                                            stated otherwise a waiver shall be effective only in the circumstances for which it is given.

 

		29.2	No
                                            delay or omission by any Party in exercising any right or remedy provided by law or under
                                            this Agreement, save to the extent provided for in Schedule 11 (A15 Limitations of Liability)
                                            or Schedule 15 (IMS and Aleph Cayman Limitations of Liability), shall constitute a
                                            waiver of such right or remedy.

 

    47

     

    

 

		29.3	The single
                                            or partial exercise of a right or remedy under this Agreement shall not preclude any other
                                            nor restrict any further exercise of any such right or remedy.

 

		29.4	The
                                            rights and remedies provided in this Agreement are cumulative and do not exclude any rights
                                            or remedies provided by law except as otherwise expressly provided.

 

		30.	Third
                                            Party Rights

 

		30.1	Save
                                            as expressly provided in this Clause 30 (Third Party Rights), a person who is not
                                            a Party or its successor or permitted assignee shall have no rights under the Contracts (Rights
                                            of Third Parties) Act 1999 to enforce any of the terms of this Agreement.

 

		30.2	Clause
                                            9.9 (A15 Warranties and Connect Ads Warranties) is intended to benefit the Connect
                                            Ads Group or any Agent of the Connect Ads Group and such Clause shall be enforceable by such
                                            persons under the Contracts (Rights of Third Parties) Act 1999, subject to the other terms
                                            and conditions of this Agreement.

 

		30.3	Clause
                                            10.11 (Aleph Cayman, IMS and Httpool Warranties) is intended to benefit any Agent
                                            of the IMS Group and such Clause shall be enforceable by such persons under the Contracts
                                            (Rights of Third Parties) Act 1999, subject to the other terms and conditions of this Agreement.

 

		30.4	Clauses
                                            13 (Qualifying IPO), 14 (A15 Put Option and A15 Anti-Embarrassment Protection)
                                            and 18 (Confidentiality) are intended to benefit members of the A15 Group, Aleph
                                            Group and the IMS Group and such Clauses shall be enforceable by such persons under the Contracts
                                            (Rights of Third Parties) Act 1999, subject to the other terms and conditions of this Agreement.

 

		30.5	Clause
                                            26 (Entire Agreement) is intended to benefit a Party’s
                                            Connected Persons, and such Clause shall be enforceable by such persons under the Contracts
                                            (Rights of Third Parties) Act 1999, subject to the other terms and conditions of this Agreement.

 

		30.6	The
                                            Parties may amend or vary this Agreement in accordance with its terms without the consent
                                            of any other person.

 

		31.	Counterparts

 

This Agreement may be entered into
in any number of counterparts, all of which taken together shall constitute one and the same instrument. The Parties may enter into this
Agreement by signing any such counterpart.

 

		32.	Standstill

 

		32.1	In
                                            consideration of IMS, Aleph Cayman and Httpool entering into this Agreement, A15 undertakes
                                            to IMS, Aleph Cayman and Httpool that for the duration of the Exclusivity Period it will
                                            not (and will procure that no other member of the A15 Group nor any of their respective Agents
                                            will), directly or indirectly:

 

		(a)	continue,
                                            re-start, enter into, initiate or participate in any Third Party Negotiations;

 

		(b)	invite,
                                            induce, encourage, solicit or respond to any approach that might lead to Third Party Negotiations;

 

		(c)	invite,
                                            induce, encourage or solicit any offer or expression of interest from a Third Party in relation
                                            to a Restricted Transaction;

 

		(d)	enter
                                            into any agreement, arrangement or understanding (whether or not legally binding) with a
                                            Third Party in connection with a Restricted Transaction; or

 

    48

     

    

 

		(e)	supply,
                                            disclose or otherwise make available to a Third Party any information concerning any part
                                            of the Connect Ads Group for the purpose of enabling it to evaluate, or decide whether to
                                            make an offer in connection with or otherwise pursue, a Restricted Transaction.

 

		32.2	Upon
                                            entering into this Agreement, A15 will immediately terminate, or procure the termination
                                            of, any Third Party Negotiations that are currently taking place.

 

		32.3	A15
                                            will immediately notify Aleph Cayman, IMS and Httpool in writing if, at any time during the
                                            Exclusivity Period, it or any other member of the A15 Group receives an offer (whether written
                                            or oral), indication of interest, proposal or enquiry from a Third Party concerning a Restricted
                                            Transaction.

 

		33.	Governing
                                            Law and Submission to Jurisdiction

 

		33.1	This
                                            Agreement, including the arbitration agreement at Clauses 33.3 (Governing Law and Submission
                                            to Jurisdiction) and 33.4 (Governing Law and Submission to Jurisdiction) and any
                                            non-contractual obligations arising out of or in connection with it, is governed by and shall
                                            be construed in accordance with English law.

 

		33.2	Save
                                            as expressly provided in Clause 12 (Leakage), Schedule 7 (A15 Put Option) and
                                            Schedule 8 (A15 Anti Embarrassment Protection), the Parties agree that if any claim,
                                            dispute or difference of whatever nature arises under or in connection with this Agreement
                                            or any other Transaction Document (including a claim, dispute or difference regarding its
                                            existence, termination or validity or any non-contractual obligations arising out of or in
                                            connection with this Agreement or any other Transaction Document) (a “Dispute”),
                                            the provisions of this Clause 33 (Governing Law and Submission to Jurisdiction) shall
                                            apply. Any Party may notify the other Parties in writing of a Dispute (a “Dispute
                                            Notice”), whereupon the Parties shall attempt
                                            to resolve the Dispute. If a full and final binding written agreement in settlement of any
                                            elements of the Dispute has not been entered into during the period of thirty (30) days following
                                            the date of service of the Dispute Notice, any Party shall be entitled to resort to arbitration
                                            under this Agreement in respect of those elements of the Dispute against any other Party.

 

		33.3	All
                                            Disputes which are unresolved pursuant to Clause 33.2 (Governing Law and Submission to
                                            Jurisdiction) and which a Party wishes to have resolved shall be referred upon the application
                                            of any Party to, and finally settled by, arbitration in accordance with the London Court
                                            of International Arbitration (“LCIA”)
                                            Rules (the “Rules”)
                                            as in force at the Signature Date and as modified by this Clause, which Rules are deemed
                                            incorporated into this Clause.

 

		22.4	The
                                            number of arbitrators shall be one (1). The Parties shall seek to agree upon the nomination
                                            of the arbitrator. If the Parties fail to agree upon an arbitrator within thirty (30) days
                                            of the notification of the request for arbitration, the LCIA Court shall, at the request
                                            of either Party, appoint the arbitrator on behalf of the Parties. The seat, or legal place,
                                            of arbitration shall be the London LCIA. The language of the arbitration shall be English.

 

		33.5	The
                                            arbitrators shall have the power to grant any legal or equitable remedy or relief available
                                            under the applicable law, including injunctive relief (whether interim and/or final) and
                                            specific performance and any measures ordered by the arbitrators may be specifically enforced
                                            by any court of competent jurisdiction. The Parties agree that any Party may have recourse
                                            to any court of competent jurisdiction to seek interim or provisional measures, including
                                            injunctive relief and pre-arbitral attachments or injunctions, and any such request shall
                                            not be deemed incompatible with the agreement to arbitrate or a waiver of the right to arbitrate.

 

    49

     

    

 

This Agreement has been entered into by the Parties on the
date first above written.

 

	Signed
    for and on behalf of		 
	Aleph Internet Media
    Services LLC	 
	by	 
	 	 
	 	 	Authorized
                                        Signatory

	 	 	 
	Signed for and on behalf
    of		 
	A15 Holding Netherlands
    B.V.	 
	by

     	 
	 	 	Authorized
    Signatory
	 	 	 
	Signed for and on behalf
    of		 
	IMS Internet Media
    Services, Inc.	 
	by	 
	 	Authorized Signatory
	 	 	 
	Signed for and on behalf
    of		 
	Httpool Holdings
    UK Limited	 
	by	 
	 	Authorized Signatory
	 	 	 
	Signed for and on behalf
    of		 
	Connect Ads DMCC	 
	by	 
	 	Authorized Signatory
	 	 	 
	Signed for and on behalf
    of		 
	Aleph Group, Inc.	 
	by	 
	 	Authorized Signatory

 

    50

     

    

 

Schedule 1

 

The Connect Ads Group

 

Part 1

Details of Connect Ads

 

	Company name	:	Connect Ads DMCC
	Company number	:	DMCC91896
	Date and place of incorporation	:	September 24, 2017, UAE
	Registered address	:	Unit 306, Mazaya Business Avenue BB2, JLTE-PH2-BB2, Jumeirah Lakes Towers,
    Dubai, UAE
	Authorized share capital	:	AED 170,000
	Issued share capital	:	AED 170,000
	Shareholder	:	A15 Holding Netherlands B.V.
	Directors	:	                                          i
    (Director)/                                          
     (Manager)
	Auditors	:	Grant Thornton
	Accounting reference date	:	December 31
	Tax residency	:	UAE

 

    51

     

    

 

Part 2

Details of the Connect Ads Subsidiaries

 

	Company name	:	Connect Ads KSA LLC
	Company number	:	1010442352
	Date and place of incorporation	:	April 18, 2018; Riyadh, KSA
	Registered address	:	Localizer Mall, Prince Mohamed Bin Abd El Aziz Street (Tahlia Street), Riyadh,
    KSA
	Authorized share capital	:	Not Applicable
	Issued share capital	:	SAR 500,000
	Shareholder	:	Connect Ads DMCC
	Directors	:	                                         
	Auditors	:	Al Dar Audit Bureau, Abdullah Al Basri & Co. (Grant Thornton)
	Accounting reference date	:	December 31
	Tax residency	:	KSA
	Company name	:	Genart Medya Reklamcilik İletişim Ticaret A.Ş.
	Company number	:	640732 – 0
	Date and place of incorporation	:	October 1, 2007; Turkey
	Registered address	:	Esentepe Mah.Harman Sok.No.5 Kat.11 D.21-22 Sisli, Istanbul, Turkey
	Authorized share capital	:	TL 200,000
	Issued share capital	:	TL 200,000
	Shareholder	:	Connect Ads DMCC (51%); Cemal Burak Yilmaz (49%)
	Directors	:	                                               
                                                        
                                     
	Auditors	:	Grant Thornton & PWC as tax advisor
	Accounting reference date	:	December 31
	Tax residency	:	Turkey

 

    52

     

    

 

	Company name	:	Techno Dev LLC
	Company number	:	102824
	Date and place of incorporation	:	February 28, 2017; Egypt
	Registered address	:	30, Street 21, Maadi, Al Sarayat, Cairo, Egypt
	Authorized share capital	:	Not applicable
	Issued share capital	:	EGP 5000 (quotas)
	Shareholder	:	Connect Ads DMCC (98%); 4G for Advanced Technology LLC (2%)
	Directors	:	                                                                       
	Auditors	:	Ashraf Abdel Ghani Accountants & Tax Consultants – ATC
	Accounting reference date	:	December 31
	Tax residency	:	Egypt

	Company name	:	Connect Ads for Advertising and Programming S.A.E
	Company number	:	30436
	Date and place of incorporation	:	February 17, 2008; Egypt
	Registered address	:	Plot 30, Street 21, Sarayat Maadi, Cairo, Egypt
	Authorized share capital	:	EGP 5,000,000
	Issued share capital	:	EGP 500,000
	Shareholder	:	Connect Ads DMCC (98%); Techno Dev LLC (1%); 4G for Advanced Technology LLC
    (1%)
	Directors	:	                                                             
                                                                                                         
	Auditors	:	Deloitte Saleh, Barsoum and Abdel Aziz at Signing

    Grant Thornton Mohamed Hilal at the Restatement Date

	Accounting reference date	:	December 31
	Tax residency	:	Egypt

	Company name	:	4G for Advanced Technology LLC
	Company number	:	102345

 

    53

     

    

 

	Date and place of incorporation	:	February 20, 2017; Egypt
	Registered address	:	30, Street 21, Maadi, Al Sarayat, Cairo, Egypt
	Authorized share capital	:	Not applicable
	Issued share capital	:	EGP 5000 (quotas)
	Shareholder	:	Connect Ads DMCC (98%); Techno Dev LLC (2%)
	Directors	:	                                         
	Auditors	:	Ashraf Abdel Ghani Accountants & Tax Consultants – ATC
	Accounting reference date	:	December 31
	Tax residency	:	Egypt

 

	Company name	:	Connect Ads Italy S.r.l
	Company number	:	PV-300834
	Date and place of incorporation	:	December 4, 2019; Italy
	Registered address	:	Via San Raffaele 1 – 20121 Milano, Italy
	Authorized share capital	:	EUR 10,000
	Issued share capital	:	EUR 10,000
	Shareholder	:	Connect Ads DMCC (95%); Cemal Burak Yilmaz (5%)
	Directors	:	                                         
	Auditors	:	FY2020 is audited by a third party and reviewed by Grant
    Thornton. FY2021 onwards will be audited by Grant Thornton
	Accounting reference date	:	December 31
	Tax residency	:	Italy

 

    54

     

    

 

Schedule 2

 

The IMS Group

 

Part 1

Details of IMS

 

	Company name	:	IMS Internet Media Services, Inc.
	Company number	:	P05000006068
	Date and place of incorporation	:	January 10, 2005; Florida, USA
	Registered address	:	1441 Brickell Ave, Suite 1530, Miami, FL 33131
	Authorized share capital	:	1,804,114 Shares
	Issued share capital	:	1,804,114 Shares
	Shareholders

     

    (a)  at the Signature
    Date

    (b)  at the Restatement Date and the Completion
    Date
	:	 

     

    (a)  90% Aleph; and
    10% Sony

    (b)  100% Aleph, Group
    Inc.

	Directors	:	                                                                                                                                                                 
	Auditors	:	BDO (Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	USA

 

    55

     

    

 

Part 2

Details of the IMS Subsidiaries

 

	Company name	:	IMS Media, LLC
	Company number	:	DE File # 5747088
	Date and place of incorporation	:	May 13, 2015; Delaware, USA
	Registered address	:	1441 Brickell Ave, Suite 1530, Miami, FL 33131
	Authorized share capital	:	N/A
	Issued share capital	:	N/A
	Shareholder	:	IMS Internet Media Services, Inc. (100%)
	Directors	:	                                         
	Auditors	:	N/A
	Accounting reference date	:	Jan – Dec
	Tax residency	:	USA

	Company name	:	IMM Internet Media Mexico, S. de R.L. de C.V.
	Company number	:	DGAJ.Permiso 0936642. Expediente 20090933267. Folio 091117091067

	Date and place of incorporation	:	February 19, 2010; Mexico
	Registered address	:	Bosque de Radiatas 44, Piso 1, Of. 103 y 104, Col. Bosques
    de las Lomas, Alc. Cuajimalpa de Morelos, C.P. 05120, Ciudad de Mexico, Mexico
	Authorized share capital	:	2 Partes Sociales (US$3,000.00 M.N.)
	Issued share capital	:	2 Partes Sociales (US$3,000.00 M.N.)
	Shareholders	:	IMS Internet Media Services, Inc. (99%); IMS Media, LLC (1%)
	Directors	:	                                                                       
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Mexico
	Company name	:	Personal Corp. IMM Mexico, S. de R.L. de C.V.
	Company number	:	RPCDF. Folio Mercantil Electronico 487.274-1
	Date and place of incorporation	:	September 28, 2012; Mexico

 

    56

     

    

 

 

	Registered address	:	Bosque de Radiatas 44, Piso 1, Of. 103 y
    104, Col. Bosques de las Lomas, Alc. Cuajimalpa de Morelos, C.P. 05120, Ciudad de Mexico, Mexico
	Authorized share capital	:	2 Partes Sociales (US$3,000.00 M.N.)
	Issued share capital	:	2 Partes Sociales (US$3,000.00 M.N.)
	Shareholders	:	IMS Internet Media Services, Inc. (99%); IMS Media, LLC (1%)
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Mexico
	Company name	:	Snack Media, S.A. de C.V.
	Company number	:	RPDF, Folio Mercantil 481204-1
	Date and place of incorporation	:	December 9, 2012; Mexico
	Registered address	:	Bosque de Radiatas 44, Piso 1, Of. 103 y 104, Col. Bosques
    de las Lomas, Alc. Cuajimalpa de Morelos, C.P. 05120, Ciudad de Mexico, Mexico
	Authorized share capital	:	100 Shares (US$100,000.00 M.N.)
	Issued share capital	:	100 Shares (US$100,000.00 M.N.)
	Shareholders	:	Neokei S.A. (95%); Social Media S.A. (5%)
	Directors	:	                                                                       
	Auditors	:	N/A (included in Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Mexico
	Company name	:	IMS Internet Media Services Panama, S. de R.L.
	Company number	:	Registro Público. Ficha 1314, Documento: 1578480
	Date and place of incorporation	:	“May 22, 2009 (Incorporation)

    July 31, 2014 (Name Change); Panama”

	Registered address	:	Torre de las Americas, Torre C, Piso 25, Punta Pacifica, Ciudad de Panama, Panama
	Authorized share capital	:	20 Cuotas de Participacion (US$2,000.00)
	Issued share capital	:	20 Cuotas de Participacion

 

    57

     

    

 

 

	Shareholders	:	IMS Internet Media Services, Inc. (95%) – IMS Media,
    LLC (5%)
	Directors	:	                                                                       
	Auditors	:	N/A (included in Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Panama
	Company name	:	Social Media, S.A.
	Company number	:	Registro Público. Ficha 675474, Documento: 1650151
	Date and place of incorporation	:	August 23, 2017; Panama
	Registered address	:	Torre de las Americas, Torre C, Piso 25, Punta Pacifica, Ciudad de Panama, Panama
	Authorized share capital	:	100 Shares (US$10,000.00)
	Issued share capital	:	100 Shares
	Shareholder	:	Neokei S.A. (100%)
	Directors	:	                                                                       
	Auditors	:	N/A (included in Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Panama
	Company name	:	Social Media, S.A.
	Company number	:	Registro Público. Ficha 675474, Documento: 1650151
	Date and place of incorporation	:	August 23, 2017; Panama
	Registered address	:	Torre de las Americas, Torre C, Piso 25, Punta Pacifica, Ciudad de Panama, Panama
	Authorized share capital	:	100 Shares (US$10,000.00)
	Issued share capital	:	100 Shares
	Shareholder	:	Neokei S.A. (100%)
	Directors	:	                                                                                                     
	Auditors	:	N/A (included in Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Panama

 

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	Company name	:	Internet Media Services Colombia S.A.S.
	Company number	:	CCBogota 01591159
	Date and place of incorporation	:	September 24, 2012; Colombia
	Registered address	:	Calle 99 14 49, Of 201, Bogota D.C., C.P. 0810, Colombia
	Authorized share capital	:	1,000,000 Shares
	Issued share capital	:	800,100 Shares
	Shareholder	:	IMS Internet Media Services, Inc. (100%)
	Directors	:	                                                                                                     
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Colombia
	Company name	:	Internet Media Services Peru S.R.L.
	Company number	:	Nro. Partida Registral:13214507
	Date and place of incorporation	:	April 11, 2014; Peru
	Registered address	:	Av. Santo Toribio No. 143, Piso 5, Oficina 502, San Isidro, Lima, C.P. 15073,
    Peru
	Authorized share capital	:	1,000 Participaciones (PEN $1,000.00)
	Issued share capital	:	1,000 Participaciones
	Shareholders	:	Radobel S.A. (99%); IMS Media, LLC (1%)
	Directors	:	                                         
	Auditors	:	N/A (included in Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Peru
	Company name	:	10 Midia Publicidade e Propaganda Ltda.
	Company number	:	NIRE 3.522.063.585-3
	Date and place of incorporation	:	May 3, 2006; Brazil
	Registered address	:	Avenida Brigadeiro Faria Lima, 1485 – 1o e 2o andares –
    CEP 01452-001 – São Paulo – S.P. – Brasil
	Authorized share capital	:	BRL $1,180,375.00
	Issued share capital	:	BRL $1,180,375.00

 

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	Shareholders	:	IMS Internet Media Services, Inc. (99.99%); IMS Media, LLC
    (0.01%)
	Directors	:	                                         
	Auditors	:	N/A (included in Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Brazil
	Company name	:	IMS-Brasil Serviços de Publicidade Ltda. (Former Name: Blue Sky Serviços
    de Publicidade Ltda.)
	Company number	:	NIRE 3.522.719.837-8
	Date and place of incorporation	:	December 21, 2012; Brazil
	Registered address	:	Avenida Brigadeiro Faria Lima, 1485 – 1o e 2o andares –
    CEP 01452-001 – São Paulo – S.P. – Brasil
	Authorized share capital	:	1,993,334 Quotas (BRL $1,993,334.00)
	Issued share capital	:	1,993,334 Quotas
	Shareholders	:	Radobel S.A. (78.63%); IMS Media, LLC (21.37%)
	Directors	:	                                         
	Auditors	:	N/A (included in Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Brazil
	Company name	:	IMS Chile SpA
	Company number	:	Fojas 38.322 Número 26.478 del Registro de Comercio del año 2010
	Date and place of incorporation	:	July 22, 2010; Chile
	Registered address	:	Av. Santa Maria 2670, Oficina 306, Comuna de Providencia, Santiago, C.P. 8320000,
    Chile
	Authorized share capital	:	1,000 Shares (CL$10,153,453)
	Issued share capital	:	1,000 Shares
	Shareholder	:	Radobel S.A. (100%)
	Directors	:	                                                                       
	Auditors	:	N/A (included in Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Chile

 

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	Company name	:	IMS Argentina S.R.L.
	Company number	:	IGJ 1814563
	Date and place of incorporation	:	March 25, 2009; Argentina
	Registered address	:	Echeverria 1515, Piso 11, Buenos Aires, Argentina
	Authorized share capital	:	ARS $34,093,051
	Issued share capital	:	ARS $34,093,052
	Shareholders	:	Radobel S.A. (99.99%); IMS Media, LLC (0.01%)
	Directors	:	                                                                       
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Argentina
	Company name	:	Socialmedia S.A.
	Company number	:	IGJ 1807762
	Date and place of incorporation	:	January 9, 2008; Argentina
	Registered address	:	Echeverria 1515, Piso 11, Buenos Aires, Argentina
	Authorized share capital	:	512,000 Cuotas Sociales
	Issued share capital	:	512,000 Cuotas Sociales
	Shareholders	:	Neokei S.A. (95%); Snack Media, S.A. de C.V. (5%)
	Directors	:	                    
                                                                      
                                             
                           
                             
           
	Auditors	:	BDO
	Accounting reference date	:	Jul – Jun
	Tax residency	:	Argentina
	Company name	:	Radobel S.A.
	Company number	:	RPJ 24152
	Date and place of incorporation	:	August 9, 2006; Uruguay
	Registered address	:	Boulevard 26 de Marzo 3438, Piso 3, Oficina 301, Montevideo, C.P. 11300, Uruguay
	Authorized share capital	:	UYU $500,000,000
	Issued share capital	:	UYU $137,788,960

 

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	Shareholder	:	IMS Internet Media Services, Inc. (100%)
	Directors	:	                                         
	Auditors	:	N/A (included in Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Uruguay
	Company name	:	Neokei S.A.
	Company number	:	RPJ 23696
	Date and place of incorporation	:	November 18, 2013; Uruguay
	Registered address	:	Boulevard 26 de Marzo 3438, Piso 3, Oficina 301, Montevideo, C.P. 11300, Uruguay
	Authorized share capital	:	UYU $11,500,000
	Issued share capital	:	UYU $7,901,801
	Shareholders	:	Radobel S.A. (75%); Bohemia Plus Inc. (25%)
	Directors	:	                                                                                                     
	Auditors	:	N/A (included in Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Uruguay
	Company name	:	Internet Media Services Europe, S.L.U. (Former Name: Maytown Spain, S.L.U.)
	Company number	:	Notaría de Francisco Javier Piera, Madrid. Documento
    número: 3477. Registro Mercantil de Madrid – Entrada 112.056,0/2017, Diario 87, Asiento 814
	Date and place of incorporation	:	August 23, 2017; Spain
	Registered address	:	Principe de Vergara 121, 4a Planta, 28002, Madrid, Spain
	Authorized share capital	:	3,000 Participaciones Sociales (EUR 3,000.00)
	Issued share capital	:	3,000 Participaciones Sociales
	Shareholder	:	IMS Media, LLC (100%)
	Directors	:	                                                                       
	Auditors	:	N/A (included in Group Audit)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Spain

 

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	Company name	:	Httpool Holdings UK Limited* (this is repeated as the main Httpool
    entity in Schedule 3 (The Httpool Group))
	Company number	:	10375627
	Date and place of incorporation	:	September 14, 2016; UK
	Registered address	:	Fifth Floor, 55 King Street, Manchester, United Kingdom
	Authorized share capital	:	N/A (*There is no Authorized Share Capital – the
    requirement was removed for private companies in the UK.)
	Issued share capital	:	GBP 1,006,442
	Shareholders	:	 
	(at Signature Date)	 	Akuma Ventures Ltd (24.5%); IMS Internet Media Services, Inc. (75.5%)
	(at Restatement Date and the Completion Date)	 	IMS Internet Media Services, Inc. (100%)
	Directors	:	                                   
                                       
                                          
                            
                                      
                        
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	United Kingdom

 

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Schedule 3

 

The Httpool Group

 

Part 1

Details of Httpool

 

	Company name	:	Httpool Holdings UK Limited* – (this is repeated as an IMS
    subsidiary in Part 2 of Schedule 2 (The IMS Group)
	Company number	:	10375627
	Date and place of incorporation	:	September 14, 2016; UK
	Registered address	:	Fifth Floor, 55 King Street, Manchester, United Kingdom
	Authorized share capital	:	N/A (*There is no Authorized Share Capital – the requirement
    was removed for private companies in the UK.)
	Issued share capital	:	GBP 1,006,442
	Shareholders	:	 
	(at Signature Date)	 	Akuma Ventures Ltd (24.5%); IMS Internet Media Services, Inc. (75.5%)
	(at Restatement Date)	 	IMS Internet Media Services, Inc. (100%)
	Directors	:	                                                                                                                                                                 
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	United Kingdom

 

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Part 2

Details of Httpool Subsidiaries

 

	Company name	:	Httpool Online Marketing GmbH
	Company number	:	304280x
	Date and place of incorporation	:	January 12, 2008; Austria
	Registered address	:	Taborstraße 7, Top 8, 1020 Vienna, Austria
	Authorized share capital	:	EUR 35.000
	Issued share capital	:	EUR 35.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Austria
	Company name	:	HTTPOOL Bangladesh Limited
	Company number	:	C-160104/2020
	Date and place of incorporation	:	March 8, 2020; Bangladesh
	Registered address	:	33 Shah Ali Tower, Karwan Bazar, 10th Floor, Dhaka, Bangladesh
	Authorized share capital	:	BDT 50,000
	Issued share capital	:	BDT 50,000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	KPMG
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Bangladesh
	Company name	  :	  Httpool BY LLC
	Company number	:	193560536
	Date and place of incorporation	:	June 17, 2021; Belarus
	Registered address	:	Logoiskii tract 22A, premises 171, office 4, 220090 Minsk, Belarus
	Authorized share capital	:	BYN 24,866

 

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	Issued share capital	:	BYN 24,866
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	Not decided yet
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Belarus
	Company name	:	Httpool Bulgaria EOOD
	Company number	:	BG175387409
	Date and place of incorporation	:	October 25, 2008; Bulgaria
	Registered address	:	104 Academic Ivan Evstratiev Geshov bul., office 3, Krasno Selo Region, 1612
    Sofia, Bulgaria
	Authorized share capital	:	BGN 5.000
	Issued share capital	:	BGN 5.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Bulgaria
	Company name	:	HTTPOOL (CAMBODIA) CO., LTD.
	Company number	:	00051326
	Date and place of incorporation	:	February 19, 2020 Cambodia
	Registered address	:	No. 82DE0, Street No. 426, Phum 4, Tuol Tumpung Pir, Chamkar Mon, Phnom
    Penh, Cambodia
	Authorized share capital	:	HKR 120,000,000

    equivalent: US$30,000

	Issued share capital	:	HKR 120,000,000

    equivalent: US$30,000

	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO

 

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	Accounting reference date	:	Jan – Dec
	Tax residency	:	Cambodia
	Company name	:	Httpool A.S.
	Company number	:	28537190
	Date and place of incorporation	:	February 27, 2009; Czech Republic
	Registered address	:	Rižská 1492/2, Hostivař, 10200 Prague, Czech Republic
	Authorized share capital	:	CZK 2,000,000
	Issued share capital	:	CZK 2,000,000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	Group BDO (UK)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Czech Republic
	Company name	:	Noovo Internet d.o.o.
	Company number	:	80673828
	Date and place of incorporation	:	May 9, 2008; Croatia
	Registered address	:	Draškovićeva 29, 10000 Zagreb, Croatia
	Authorized share capital	:	HRK 20.000
	Issued share capital	:	HRK 20.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Croatia
	Company name	:	Httpool Denmark ApS
	Company number	:	42170976
	Date and place of incorporation	:	March 1, 2021; Denmark
	Registered address	:	Pilestræde 58, 1112 København, Denmark
	Authorized share capital	:	DKK 40.000

 

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	Issued share capital	:	DKK 40.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Denmark
	Company name	:	Httpool Baltics OU
	Company number	:	12513561
	Date and place of incorporation	:	July 31, 2013; Estonia
	Registered address	:	Pärnu mnt 31-65, Tallinn, 10119, Estonia
	Authorized share capital	:	EUR 2.500
	Issued share capital	:	EUR 2.500
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Estonia
	Company name	:	Httpool OY
	Company number	:	3103847-4
	Date and place of incorporation	:	December 11, 2019; Finland
	Registered address	:	c/o Asianajotsto Waselius&Wist Oy Eteläesplanadi 24 A 00130 Helsinki,
    Finland
	Authorized share capital	:	0
	Issued share capital	:	0
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Finland

 

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	Company name	:	Httpool Hellas M.IKE
	Company number	:	134184103000
	Date and place of incorporation	:	April 16, 2015; Greece
	Registered address	:	172, Kifisias Av, Maroysi, Attiki 15126, Greece
	Authorized share capital	:	EUR 3.000
	Issued share capital	:	EUR 3.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	Group BDO (UK)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Greece
	Company name	:	Httpool Asia Limited
	Company number	:	50461109-000-03-19-3
	Date and place of incorporation	:	March 23, 2009; Hong Kong
	Registered address	:	9/F, Kai Tak Commercial Building, 66-72 Stanley Street Central, Hong Kong
	Authorized share capital	:	HKD 50,000.00
	Issued share capital	:	HKD 50,000.00
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Hong Kong
	Company name	:	Httpool Hungary Kft
	Company number	:	01-09-287647
	Date and place of incorporation	:	September 14, 2017; Hungary
	Registered address	:	Leonardo da Vinci u.41. 2.em.1., 1082 Budapest, Hungary
	Authorized share capital	:	HUF 3,325,000
	Issued share capital	:	HUF 3,325,000
	Shareholder	:	Httpool Holdings UK Limited

 

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	Directors	:	                                         
	Auditors	:	Group BDO (UK)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Hungary
	Company name	:	Httpool Digital Private Limited
	Company number	:	U72900MP2010FTC024043
	Date and place of incorporation	:	August 2, 2010; India
	Registered address	:	Registered Add: 303, Ganeshwari Apt., Manishpuri Annex,
    Near Saket Nagar, Indore-452001, Madhya Pradesh.
	Authorized share capital	:	INR 19,800,000
	Issued share capital	:	INR 19,800,000
	Shareholders	:	Httpool Holdings UK Limited (99.96%); Httpool d.o.o. SLO (0.04%)
	Directors	:	                                        
	Auditors	:	BDO
	Accounting reference date	:	April – March
	Tax residency	:	India
	Company name	:	PT Httpool Digital Indonesia
	Company number	:	4018011731102136
	Date and place of incorporation	:	February 5, 2018; Indonesia
	Registered address	:	Registered Add: Satrio Tower LT 6,
    Unit 1, JL.Prof.DR. Satrio KAV C4, Kuningan Timur, Setiabudi, Jakarta Selatan, DKI Jakarta, Indonesia 12950.

    Communication Address: DreamHub,
    Equity Tower 22nd Floor, Sudirman Central Business District, Lot 9, Senayan, Kebayoran Baru, Indonesia

	Authorized share capital	:	RP 2.500.000.000
	Issued share capital	:	RP 2.500.000.000
	Shareholders	:	Httpool Digital Malaysia (51%); PT Cahaya Utara Group (49%)
	Directors	:	                                         A
      (nominee director)
	Auditors	:	Group BDO (UK)

 

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	Accounting reference date	:	Jan – Dec
	Tax residency	:	Indonesia
	Company name	:	Httpool Kazakhstan LLC
	Company number	:	210440004882
	Date and place of incorporation	:	April 5, 2021; Kazakhstan
	Registered address	:	Medeu district, 128 Dostyk Avenue, flat 73, postal code 050051; Almaty city,
    Kazakhstan
	Authorized share capital	:	KZT 4,310,000
	Issued share capital	:	KZT 4,310,000
	Shareholders	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	not defined yet
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Kazakhstan
	Company name	:	Httpool ShpK
	Company number	:	70929406
	Date and place of incorporation	:	February 22, 2013; Kosovo
	Registered address	:	Sejdi Kryeziu 15, Pejton, Prishtinë, 10000, Kosovo
	Authorized share capital	:	EUR 5,000
	Issued share capital	:	EUR 5,000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	N/A
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Kosovo
	Company name	:	Httpool Lao Sole Co., Ltd.
	Company number	:	01-00023887
	Date and place of incorporation	:	April 28, 2020; Laos
	Registered address	:	Chansavang Village, Sikhottabong District, Vientiane Capital, Lao PDR.

 

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	Authorized share capital	:	LAK 1,700,000,000
	Issued share capital	:	LAK 1,700,000,000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Laos
	Company name	:	Httpool Latvia SIA
	Company number	:	40203196695
	Date and place of incorporation	:	February 21, 2019; Latvia
	Registered address	:	Mūkusalas iela 41, Rīga, 1004, Latvia
	Authorized share capital	:	EUR 2.800
	Issued share capital	:	2.800 shares
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Latvia
	Company name	:	Httpool Lithuania UAB
	Company number	:	305132382
	Date and place of incorporation	:	April 25, 2019; Lithuania
	Registered address	:	Vilnius Street 33, Vilnius, Lithuania
	Authorized share capital	:	EUR 2.800
	Issued share capital	:	EUR 2.800
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
     (proxy)
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Lithuania

 

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	Company name	:	Httpool DOOEL
	Company number	:	6028268
	Date and place of incorporation	:	July 18, 2005; Macedonia
	Registered address	:	Bul. Partizanski Odredi 62, 1000 Skopje, North Macedonia
	Authorized share capital	:	MKD 372.000
	Issued share capital	:	MKD 372.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                        
	Auditors	:	Group BDO (UK)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Macedonia
	Company name	:	Httpool Digital Malaysia Sdn Bhd
	Company number	:	1246587-M
	Date and place of incorporation	:	September 13, 2017; Malaysia
	Registered address	:	UNIT NO. 20-01,Level 20, Menara Centara No. 360, Jalan Tuanku Abdul Rahman, Kuala Lumpur W.P, Malaysia – 50100
	Authorized share capital	:	RM 500,000
	Issued share capital	:	RM 500,000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                          

Sunny Nagpal
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Malaysia
	Company name	:	HTTPOOL Myanmar Limited
	Company number	:	123723325
	Date and place of incorporation	:	December 4, 2019; Myanmar
	Registered address	:	No. 520, Kabar Aye Pagoda Road, Rm. 206, Excel Tower, 2nd Floor, Bahan Township, Yangon, Myanmar
	Authorized share capital	:	N/A

 

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	Issued share capital	:	N/A
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                        
	Auditors	:	BDO
	Accounting reference date	:	Oct – Sept
	Tax residency	:	Myanmar
	Company name	:	Httpool Norway AS
	Company number	:	926 292 285
	Date and place of incorporation	:	December 9, 2020; Norway
	Registered address	:	c/o Advokatfirmaet Haavind AS, Bygdøy allé 2, 0257, Oslo, Norway
	Authorized share capital	:	NOK 30.000
	Issued share capital	:	NOK 30.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Norway
	Company name	:	Httpool Polska sp. Z.o.o.
	Company number	:	146241816
	Date and place of incorporation	:	August 3, 2012; Poland
	Registered address	:	Krucza 16/22, 00-526 Warsaw, Poland
	Authorized share capital	:	ZL 5.000
	Issued share capital	:	ZL 5.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                        
	Auditors	:	Previous years Group BDO (UK)/audit for 2021 will be BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Poland

 

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	Company name	:	Httpool Online & Mobile Advertising Srl
	Company number	:	J40/6475/2003
	Date and place of incorporation	:	May 15, 2003; Romania
	Registered address	:	55 Panait Istrati, 1st District, Bucharest, Romania
	Authorized share capital	:	LEI 70.000
	Issued share capital	:	LEI 70.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	Group BDO (UK)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Romania
	Company name	:	Httpool LLC
	Company number	:	1127746057185
	Date and place of incorporation	:	February 2, 2012; Russia
	Registered address	:	Room 51-73, 1, 2, house 6 build 2, Turchaninov pereulok, Moscow, Russian Federation,
    119034
	Authorized share capital	:	RUB 10.000
	Issued share capital	:	RUB 10.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Russia
	Company name	:	Httpool d.o.o.
	Company number	:	20028416
	Date and place of incorporation	:	March 26, 2005; Serbia
	Registered address	:	Požarevačka 19-21, 11000 Beograd, Serbia
	Authorized share capital	:	RSD 1.209.139,00
	Issued share capital	:	RSD 1.209.139,00
	Shareholder	:	Httpool Holdings UK Limited

 

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	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Serbia
	Company name	:	Httpool d.o.o.
	Company number	:	1554301000
	Date and place of incorporation	:	August 9, 2000; Slovenia
	Registered address	:	Tacenska cesta 26, 1210 Ljubljana – Šentvid, Slovenia
	Authorized share capital	:	EUR 25.258
	Issued share capital	:	EUR 25.258
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Slovenia
	Company name	:	Httpool Digital Pte. Ltd.
	Company number	:	202120471G
	Date and place of incorporation	:	June 10, 2021; Singapore
	Registered address	:	24 Raffles, Place #15-00, Clifford - centre, Singapore
	Authorized share capital	:	USD 10.000
	Issued share capital	:	USD 10.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                                                             n
    

(nominee director)
	Auditors	:	Not decided yet
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Singapore
	Company name	:	Httpool Digital Marketing FZE
	Company number	:	14890

 

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	Date and place of incorporation	:	May 8, 2016; UAE
	Registered address	:	ELOB Office E-23G-14, Hamriyah Free Zone, Sharjah, UAE
	Authorized share capital	:	AED 25.000
	Issued share capital	:	AED 25.000
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BLS
	Accounting reference date	:	Apr – Mar
	Tax residency	:	UAE
	Company name	:	LLC “HTTPOOL UKRAINE”
	Company number	:	38871224
	Date and place of incorporation	:	October 10, 2017; Ukraine
	Registered address	:	Velyka Vasylkivska street 2, 01004, Kyiv, Ukraine
	Authorized share capital	:	UAH 20.000,00
	Issued share capital	:	UAH 20.000,00
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                       
	Auditors	:	Group BDO (UK)
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Ukraine
	Company name	:	Httpool AB
	Company number	:	556952-5693
	Date and place of incorporation	:	December 9, 2013; Sweden
	Registered address	:	Malmskillnadsgatan 32, 111 51 Stockholm, Sweden
	Authorized share capital	:	EUR 50.000
	Issued share capital	:	500 shares
	Shareholder	:	Httpool Holdings UK Limited
	Directors	:	                                         
	Auditors	:	BDO

 

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	Accounting reference date	:	Jan – Dec
	Tax residency	:	Sweden
	Company name	:	Social Snack, S.L.
	Company number	:	TBD
	Date and place of incorporation	:	29 June 2021; Spain
	Registered address	:	Calle Compostela, 8-4 izquierda, La Coruña, Spain
	Authorized share capital	:	EUR 3.000
	Issued share capital	:	EUR 3.000
	Shareholder	:	Neokei S.A.
	Directors	:	                                         

Bruno Mauricio Libonatti
	Auditors	:	TBD
	Accounting reference date	:	Jan – Dec
	Tax residency	:	Spain

 

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Schedule 4

 

Pre-Completion Conditions

 

Part 1 

Non-Regulatory Pre-Completion Conditions

 

		1.	Connect
                                            Ads having declared each of the Connect Ads Permitted Dividends.

 

		2.	A15
                                            having delivered to IMS:

 

		(i)	a
                                            copy of an executed amended shareholders’ agreement (in the agreed form agreed between
                                            the Parties to this Agreement) in relation to Genart Medya Reklamcilik İletişim
                                            Ticaret A.Ş., which shall include a waiver of the right of first refusal and consent
                                            to the Transaction from Cemal Burak Yilmaz;

 

		(ii)	a
                                            copy of the executed shareholders’ agreement between Connect Ads and Cemal Burak Yilmaz
                                            (in the form agreed between the Parties to this Agreement) in relation to Connect Ads Italy;
                                            and

 

		(iii)	a
                                            copy of quota-holders’ ledger of each of 4G for Advanced Technology LLC and Techno
                                            Dev LLC.

 

		3.	The
                                            Joinder and Amendment Agreement to the Aleph Cayman Shareholders’ Agreement having
                                            been agreed by each of the parties thereto, and in each case, such agreement being in a form
                                            reasonably acceptable to A15.

 

		4.	The
                                            form of the Connect Ads Shareholders’ Agreement (the “Agreed Form Connect
                                            Ads Shareholders’ Agreement”) having been agreed by the Parties thereto,
                                            and such agreement being in a form reasonably acceptable to A15.

 

		5.	The
                                            memorandum and articles of association (or equivalent constitutional documents) of Aleph
                                            Cayman being in a form reasonably acceptable to A15.

 

		6.	A15
                                            and IMS having agreed the format, and the specific accounting policies to be used in the
                                            preparation, of the consolidated financial statements for the IMS Group (including the standalone
                                            financial statements for each member of the IMS Group) to be delivered by Aleph Cayman to
                                            A15 in accordance with Clause 14.3.

 

		7.	A15
                                            and IMS having agreed the format, and the specific accounting policies to be used in the
                                            preparation, of the consolidated financial statements for the Connect Ads Group (including
                                            the standalone financial statements for each member of the Connect Ads Group) to be delivered
                                            by Aleph Cayman to A15 in accordance with Clause 14.3.

 

		8.	The
                                            Twitter Agreements being in full force and effect, no Twitter Agreement having a term which
                                            expires prior to Completion, no written notice of termination having been served under any
                                            Twitter Contract and A15 having delivered to IMS complete and accurate copies of the Twitter
                                            Agreements.

 

		9.	Written
                                            approval of CVC, pursuant to and in accordance with section 6.2(i) of the Aleph Cayman
                                            Shareholders’ Agreement and article 61(i) of Aleph Cayman’s memorandum and
                                            articles of association.

 

		10.	A
                                            waiver by each shareholder of Aleph Cayman of its rights of pre-emption under section 8.13
                                            of Aleph Cayman Shareholders’ Agreement.

 

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Part 2

Regulatory Pre-Completion Conditions

 

		1.	Merger
                                            control clearance pursuant to Article 7 of the Saudi Competition Law having been received
                                            from the Saudi General Authority for Competition in respect of the transactions contemplated
                                            by this Agreement, or any appropriate waiting periods (including any extensions) having expired,
                                            lapsed or been terminated (as appropriate).

 

		2.	Merger
                                            control clearance pursuant to the Turkish Merger Approval Communiqué, having been
                                            received from the Turkish Competition Board respectively in respect of the transactions contemplated
                                            by this Agreement, or any appropriate waiting periods (including any extensions) having expired,
                                            lapsed or been terminated (as appropriate).

 

Part 3

DMCCA Pre-Completion Condition

 

		1.	The DMCCA having approved
                                            the sale and purchase of the Sale Shares and Swap Shares.

 

Part 4

No Injunction Pre-Completion Condition

 

		1.	No injunction, restraining
                                            order or other order or any other legal or regulatory restraint or prohibition having been
                                            issued or made by any court of competent jurisdiction or any other person which prevents
                                            the consummation of the transactions contemplated by this Agreement.

 

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Schedule 5

 

Completion Arrangements

 

Part 1 

A15’s Obligations

 

At Completion A15 shall:

 

		1.	procure
                                            that a meeting of the board of Connect Ads is held at which:

 

		1.1	the
                                            sale of the Sale Shares to Httpool be approved;

 

		1.2	the
                                            sale of the Swap Shares to Aleph Cayman be approved;

 

		1.3	new
                                            directors shall be appointed in accordance with Httpool’s nominations;

 

		1.4	the
                                            resignations of the directors and Connect Ads Auditors referred to in paragraphs 6.1 and
                                            6.2 below shall be tendered and accepted with effect from the close of the meeting; and

 

		2.	(or
                                            its authorized representative carrying with them their original passport and/or UAE identification
                                            card (if applicable in the latter case)) shall:

 

		2.1	attend
                                            the DMCCA to deliver to the DMCCA the:

 

		(a)	original
                                            memorandum and articles of association of A15;

 

		(b)	original board resolution
                                            referred to in Clause 6.3(a)(i) (Pre-Completion Arrangements); and

 

		(c)	original
                                            of any other document requested of A15 by the DMCCA;

 

		2.2	sign
                                            and deliver to the DMCCA the share transfer form and the revised memorandum and articles
                                            of Connect Ads to effect the transfer of the Sale Shares from A15 to Httpool for the purpose
                                            of the Commercial Registration; and

 

		2.3	sign
                                            and deliver to the DMCCA the share transfer form and the revised memorandum and articles
                                            of Connect Ads to effect the transfer of the Swap Shares from A15 to Aleph Cayman for the
                                            purpose of the Commercial Registration; and

 

		3.	deliver
                                            to Httpool and Aleph Cayman or Httpool’s Lawyers:

 

		3.1	an
                                            original counterpart of the Joinder and Amendment Agreement to the Aleph Cayman Shareholders’
                                            Agreement, duly executed by A15;

 

		3.2	an
                                            original counterpart of the Connect Ads Shareholders’ Agreement duly executed by A15
                                            and Connect Ads;

 

		4.	deliver
                                            to Httpool:

 

		4.1	a
                                            certified copy of the minutes of the meeting of the board of directors of A15 authorizing
                                            the execution of this Agreement and the other Transaction Documents to which A15 is a party;
                                            and

 

		4.2	a
                                            certified copy of the power of attorney under which any document to be delivered to Httpool
                                            has been executed;

 

		4.3	a
                                            certified copy of the minutes of the meeting of the board of directors of Connect Ads referred
                                            to in paragraph 1 above;

 

		4.4	resolution
                                            approved by, the DMCCA to effect the change in directors of Connect Ads required by Clauses
                                            6.3(a)(i)  (Pre-Completion Arrangements) and 6.3(b)(i) (Pre-Completion
                                            Arrangements);

 

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		5.	deliver
                                            to Aleph Cayman:

 

		5.1	a
                                            certified copy of the minutes of the meeting of the board of directors of A15 authorizing
                                            the execution of this Agreement and the other Transaction Documents to which A15 is a party;

 

		5.2	a
                                            certified copy of any power of attorney under which any document to be delivered to Aleph
                                            Cayman has been executed;

 

		5.3	a
                                            certified copy of the minutes of the meeting of the board of directors of Connect Ads referred
                                            to in paragraph 1 above;

 

		6.	deliver
                                            to Httpool and Aleph Cayman (to the extent not already in the possession of the Connect Ads
                                            Group):

 

		6.1	written
                                            resignations in the agreed terms to take effect from Completion of up to four (4) directors
                                            of Connect Ads and such directors of each member of the Connect Ads Group as Aleph Cayman
                                            shall notify to A15 in writing not less than five (5) Business Days prior to the Completion
                                            Date, in each case executed as a deed; and

 

		6.2	written
                                            resignations from the Connect Ads Auditors, together with such further documents or confirmations,
                                            if any, as are needed to effect a valid and legally-binding resignation and satisfy all applicable
                                            legal and regulatory requirements in relation to that resignation;

 

		7.	deliver
                                            to Httpool and Aleph Cayman a copy of all bank statements of each Connect Ads Group Company
                                            dated not earlier than three (3) Business Days prior to the Completion Date.

 

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Part 2

Aleph Cayman’s Obligations

 

At Completion, Aleph Cayman shall:

 

		1.	procure
                                            that a board meeting of Aleph Cayman is held at which:

 

		1.1	the
                                            allotment and issue to A15 of the Consideration Shares in accordance with this Agreement
                                            is approved; and

 

		1.2	it
                                            shall be resolved to enter A15 in the register of members as a holder of the Consideration
                                            Shares and to issue a share certificate(s) to A15 in respect of the Consideration Shares;
                                            and

 

		2.	(or
                                            its authorized representative carrying with them their original passport and UAE identification
                                            card (if applicable in the latter case)) shall:

 

		2.1	attend
                                            the DMCCA to deliver to the DMCCA the original of any other document requested of Aleph Cayman
                                            by the DMCCA other than those mentioned under Clauses 6.3(c)(i) (Pre-Completion Arrangements)
                                            to 6.3(c)(vi) (Pre-Completion Arrangements); and

 

		2.2	sign
                                            and deliver to the DMCCA each of the share transfer form and the memorandum and articles
                                            of association (as amended and restated) of Connect Ads to effect the transfer of the Swap
                                            Shares from A15 to Aleph Cayman for the purpose of the Commercial Registration; and

 

		3.	deliver
                                            to A15 or A15’s Lawyers:

 

		3.1	a
                                            certified copy of the minutes of the meeting of the board of directors of Aleph Cayman referred
                                            to in paragraph 1, which also authorizes the execution of this Agreement and the other Transaction
                                            Documents to which Aleph Cayman is a party;

 

		3.2	an
                                            original counterpart of the Joinder and Amendment Agreement to the Aleph Cayman Shareholders’
                                            Agreement, duly executed by Aleph Cayman and all existing shareholders of Aleph Cayman;

 

		3.3	a
                                            certified copy of the minutes of the meeting of the board of directors of each of Aleph,
                                            Akuma, Sony, CVC and Aleph Cayman authorizing the execution of the Joinder and Amendment
                                            Agreement to the Aleph Cayman Shareholders’ Agreement;

 

		3.4	the
                                            memorandum and articles of association (as amended and restated) (or equivalent constitutional
                                            documents) of Aleph Cayman reflecting the provisions of the Joinder and Amendment Agreement
                                            to the Aleph Cayman Shareholders’ Agreement,

 

		3.5	a
                                            certified copy of each power of attorney under which any document to be delivered to A15
                                            has been executed;

 

		3.6	the
                                            share certificate(s) for the Consideration Shares;

 

		3.7	such
                                            waivers, consents, corporate approvals and other documents as A15 may require to enable A15,
                                            or such other person as A15 may nominate, to be registered as a holder of the Consideration
                                            Shares;

 

		3.8	an
                                            original counterpart of the Connect Ads Shareholders’ Agreement duly executed by Aleph
                                            Cayman.

 

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Part 3

Httpool’s Obligations

 

At Completion, Httpool shall:

 

		1.	(or
                                            its authorized representative carrying with them their original passport and UAE identification
                                            card (if applicable in the latter case)) shall:

 

		1.1	attend
                                            the DMCCA to deliver to the DMCCA the original of any other document requested of Httpool
                                            by the DMCCA other than those mentioned under Clauses 6.3(b)(i) (Pre-Completion Arrangements)
                                            to 6.3(b)(v) (Pre-Completion Arrangements); and

 

		1.2	sign
                                            and deliver to the DMCCA each of the share transfer form and the revised memorandum and articles
                                            of Connect Ads to effect the transfer of the Sale Shares from A15 to Httpool for the purpose
                                            of the Commercial Registration; and

 

		2.	deliver
                                            to A15 or A15’s Lawyers:

 

		2.1	a
                                            certified copy of the minutes of the meeting of the board of directors of Httpool authorizing
                                            the execution of this Agreement and the other Transaction Documents to which Httpool is a
                                            party;

 

		2.2	a
                                            certified copy of each power of attorney under which any document to be delivered to Httpool
                                            has been executed;

 

		2.3	an
                                            original counterpart of the Connect Ads Shareholders’ Agreement duly executed by Httpool;
                                            and

 

		2.4	the
                                            revised memorandum of association of Connect Ads reflecting the provisions of the Connect
                                            Ads Shareholders’ Agreement, to the extent permitted by the DMCCA.

 

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Part 4

IMS’s Obligations

 

At Completion, IMS shall:

 

		1.	deliver
                                            to A15 or A15’s Lawyers:

 

		1.1	a
                                            certified copy of the minutes of the meeting of the board of directors of IMS authorizing
                                            the execution of this Agreement and the other Transaction Documents to which IMS is a party;

 

		1.2	a
                                            certified copy of each power of attorney under which any document to be delivered to IMS
                                            has been executed.

 

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Schedule 6

 

Earn Outs

 

		1.	Earn
                                            Out Amount 1 – Facebook / Google Contract

 

		1.1	If
                                            at any time during the period commencing on the Completion Date and ending on the second
                                            (2nd) anniversary of the Completion Date (the “Earn
                                            Out 1 Period”), any Connect Ads Group Company enters into an agreement for reselling
                                            digital media advertisements with either Facebook or Google in any Relevant Territory (the
                                            “Connect Ads Contract”), Aleph Cayman shall immediately notify A15 in
                                            writing and deliver a copy of the Connect Ads Contract to an A15-nominated director of Connect
                                            Ads.

 

		1.2	If
                                            paragraph 1.1 applies:

 

		(a)	if
                                            the Connect Ads Contract is entered into on or prior to the date falling fifteen (15) months
                                            after the Completion Date, Aleph Cayman shall, within ten (10) Business Days of the
                                            date falling twelve (12) months after the date of entry into the Connect Ads Contract, deliver
                                            to A15 a written notice specifying:

 

		(i)	the
                                            total revenue earned by the relevant IMS Group Company pursuant to the terms of the Connect
                                            Ads Contract in each calendar month from the date of the execution of such contract until
                                            the date of such notice; and

 

		(ii)	Earn
                                            Out Amount 1, calculated in accordance with paragraph 1.3;

 

		(b)	if
                                            the Connect Ads Contract is entered into following the date falling fifteen (15) months after
                                            the Completion Date and prior to the second (2nd) anniversary
                                            of the Completion Date, Aleph Cayman shall, within ten (10) Business Days of the date
                                            falling twenty-seven (27) months after the Completion Date, deliver to A15 a written notice
                                            specifying:

 

		(i)	the
                                            total revenue earned by the relevant IMS Group Company pursuant to the terms of the Connect
                                            Ads Contract in each calendar month from the date of the execution of such contract until
                                            the date of such notice; and

 

		(ii)	Earn Out Amount 1, calculated
                                            in accordance with paragraph 1.3, (the “Earn Out 1 Statement”).

 

		1.3	Earn
                                            Out Amount 1 shall be the amount, in US$, determined as follows:

 

		(a)	if
                                            the amount of the Potential Opportunity is equal to or greater than US$20,000,000, Earn Out
                                            Amount 1 shall be US$0; and

 

		(b)	if
                                            the Potential Opportunity is less than twenty million US$20,000,000 but greater than zero,
                                            Earn Out Amount 1 shall be calculated as follows:

 

Earn Out Amount 1 = ((A – B)
/ A) x C

 

where:

 

“A” = US$20,000,000;

 

“B” = the Potential Opportunity;
and

 

“C” = US$1,110,410; or

 

		(c)	if
                                            no Connect Ads Contract is executed during the Earn Out 1 Period, Earn Out Amount 1 shall
                                            be US$1,110, 410.

 

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		1.4	For
                                            the purposes of paragraph 1.3(a) and (b), the Potential Opportunity shall be an amount,
                                            in US$, determined as follows:

 

		(a)	if
                                            paragraph 1.2(a) applies, the Potential Opportunity shall be an amount, in US$, equal
                                            to the total revenue earned in the final three (3) months of the first year of such
                                            contract multiplied by four (4); or

 

		(b)	if
                                            paragraph 1.2(b) applies, then the Potential Opportunity shall be an amount, in US$,
                                            equal to the total revenue earned during the period commencing on the second (2nd)
                                            anniversary of the Completion Date and ending on the date falling twenty-seven (27) months
                                            after the Completion Date multiplied by four (4).

 

		1.5	Within
                                            ten (10) Business Days after the date on which the Earn Out 1 Statement is delivered
                                            in accordance with paragraph 1.2, the Parties shall deliver joint written instructions to
                                            the Escrow Agent and shall procure that the Escrow Agent releases Earn Out Amount 1 from
                                            Escrow Account 1 to A15 and the balance of Escrow Account 1 (if any) to Httpool.

 

		2.	Earn
                                            Out Amount 2 – Connect Ads Outstanding Receivables

 

		2.1	If
                                            at any time during the period commencing on the Completion Date and ending on the first (1st)
                                            anniversary of the Completion Date (the “Earn Out 2 Period”), Connect
                                            Ads collects any of the Connect Ads Outstanding Receivables, Aleph Cayman shall immediately
                                            notify A15 in writing of such amount.

 

		2.2	If
                                            paragraph 2.2 applies, Aleph Cayman shall, within ten (10) Business Days of the end
                                            of the Earn Out 2 Period, deliver to A15 a written notice specifying:

 

		(a)	the
                                            Connect Ads Final 2018 Outstanding Receivables (together with a complete list of all of the
                                            receivables included within such amount);

 

		(b)	the
                                            Connect Ads Final 2019 Outstanding Receivables (together with a complete list of all of the
                                            receivables included within such amount); and

 

		(c)	Earn Out Amount 2 calculated
                                            in accordance with paragraph 2.3, (the “Earn Out 2 Statement”).

 

Earn Out Amount 2

 

		2.3	Earn
                                            Out Amount 2 shall be the amount, in US$, determined in accordance with the following formula:

 

A = [((((B – C) x 8) + (D
 – E)) x 0.51) + ((((B – C) x 6.5) + (D – E)) x 0.35)]

 

where:

 

“A” = Earn Out Amount 2;

 

“B” = the Connect Ads Preliminary
2019 Outstanding Receivables;

 

“C” = the Connect Ads Final
2019 Outstanding Receivables;

 

“D” = the Connect Ads Preliminary
2018 Outstanding Receivables; and

 

“E” = the Connect Ads Final
2018 Outstanding Receivables.

 

		2.4	Within
                                            ten (10) Business Days after the date on which the Earn Out 2 Statement is delivered
                                            in accordance with paragraph 2.2, the Parties shall deliver joint written instructions to
                                            the Escrow Agent and shall procure that the Escrow Agent releases Earn Out Amount 2 from
                                            Escrow Account 2 to A15 and the balance of Escrow Account 2 (if any) to Httpool.

 

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		2.5	Each
                                            Party undertakes to the others that during the Escrow Period it shall act in good faith in
                                            relation to the collection of the Connect Ads Outstanding Receivables and confirms that it
                                            shall: (a) not take any action during the Escrow Period that could reasonably be expected
                                            to frustrate the collection of the Connect Ads Outstanding Receivables; or (b) otherwise
                                            seek to unduly influence a decision by a customer to pay one invoice from Connect Ads over
                                            another to its own benefit.

 

		3.	Information
                                            Access Rights

 

		3.1	Aleph
                                            Cayman shall, without delay, supply to A15 (or otherwise procure the supply of) all information
                                            necessary for A15 to verify any amounts that may be payable with respect to Earn Out Amount
                                            1 or Earn Out Amount 2, including, without limitation:

 

		(a)	annual
                                            accounts on a consolidated basis for the Connect Ads Group;

 

		(b)	the
                                            annual budget for the Connect Ads Group;

 

		(c)	unaudited
                                            semi-annual and quarterly accounts for the Connect Ads Group;

 

		(d)	all
                                            information granted to the lenders of the Connect Ads Group; and

 

		(e)	all
                                            such other information as A15 may reasonably request in order verify any amounts that may
                                            be payable with respect to Earn Out Amount 1 or Earn Out Amount 2.

 

		3.2	Aleph
                                            Cayman shall without delay provide to A15 (or otherwise procure the provision of) all such
                                            information that A15 reasonably requests in order to verify any amounts payable with respect
                                            to Earn Out Amount 1 or Earn Out Amount 2.

 

		4.	Worked
                                            Examples

 

Annex 1 to this Schedule provides worked
examples of each of the calculations referred to in paragraph 2. Such worked examples are non-binding and for illustrative purposes only.

 

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Annex 1

 

Earn Out Amount 2 – Worked Examples

 

 

 

    89

     

    

 

 

Schedule 7

 

A15 Put Option

 

		1.	Definitions

 

		1.1	For
                                            the purposes of this Schedule 7 (A15 Put Option):

 

“Aleph
Cayman Change of Control” means Aleph and Httpool collectively ceasing to hold directly or indirectly at least 50.1% of the
entire issued share capital of Aleph Cayman on a Fully-Diluted Basis other than as a result of a Qualifying IPO;

 

“Aleph
Cayman Change of Control Multiple” means:

 

		(a)	in
                                            the case of an Aleph Cayman Change of Control which occurs as a result of the exercise by
                                            CVC of the CVC Call Option, 8.5 or any other multiple agreed in writing between A15 and Aleph
                                            Cayman; and

 

		(b)	in
                                            the case of any other Aleph Cayman Change of Control, the ratio of:

 

		(i)	the
                                            enterprise value of Aleph Cayman; to

 

		(ii)	if:

 

		(A)	the
                                            Aleph Cayman Change of Control occurs prior to Completion, the Put Option IMS EBITDA; or

 

		(B)	If
                                            the Aleph Cayman Change of Control occurs after Completion, the Put Option Connect Ads EBITDA
                                            plus the Put Option IMS EBITDA,

 

used
to determine/derived from the consideration payable in respect of the transaction or series of related transactions that results in the
Aleph Cayman Change of Control;

 

“Change
in CEO” means Christian Gaston Taratuta ceasing to be the CEO of Aleph Cayman;

 

“Change
in CEO Multiple” means 8.5 or any other multiple agreed in writing between A15 and Aleph Cayman;

 

“CVC
Call Option” means the call option granted to CVC pursuant to clause 9 (Buyer Value Protection) of the CVC SPA

 

“Draft Put Option
Statement” has the meaning given in paragraph 2.4 of this Schedule 7 (A15 Put Option);

 

“Expert”
has the meaning given to it in paragraph 3.1 of this Schedule 7 (A15 Put Option);

 

“Put Option”
has the meaning given in paragraph 2.1 of this Schedule 7 (A15 Put Option);

 

“Put Option Accounts”
means the Put Option Connect Ads Accounts and the Put Option IMS Accounts;

 

“Put
Option Completion Date” has the meaning given in paragraph 2.17 of this Schedule 7 (A15 Put Option);

 

“Put
Option Connect Ads Accounts” means, unless otherwise agreed in writing between A15 and Aleph Cayman, the most recent consolidated
financial statements of the Connect Ads Group delivered by Aleph Cayman to A15 in accordance with Clause 14.3 prior to the occurrence
of the relevant Put Option Trigger Event;

 

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“Put
Option Connect Ads Cash” means, in relation to the Connect Ads Group, and as specified in the Put Option Connect Ads Accounts,
the aggregate of its cash in hand or credited to any account with any banking, financial, acceptance credit, lending or other similar
institution or organisation, less:

 

		(a)	any
                                            cash which, is not capable of being lawfully spent, paid, distributed, loaned or released
                                            by a Connect Ads Group Company from the jurisdiction in which it is situated including (within
                                            90 calendar days), without limitation, any cash deposits with banks, rent deposits or any
                                            other cash held as collateral in respect of obligations of any party and any withholding
                                            tax in respect of which a refund has not been or will not be obtained; and

 

		(b)	the
                                            aggregate cash value of any declared but unpaid dividends and other distributions attributable
                                            to the shares in the share capital of Connect Ads, to the extent that a member of the A15
                                            Group is entitled to receive the relevant dividend or other distribution after the Put Option
                                            Reference Date and that dividend or other distribution is not a Connect Ads Permitted Dividend
                                            or forms part of the Put Option Connect Ads Indebtedness;

 

“Put
Option Connect Ads EBITDA” means the consolidated earnings before interest, tax, depreciation and amortization of the Connect
Ads Group as at the Put Option Reference Date determined on the basis of the Put Option Connect Ads Accounts;

 

“Put
Option Connect Ads Indebtedness” means, in relation to the Connect Ads Group, and as specified in the Put Option Connect Ads
Accounts, the aggregate of:

 

		(a)	all
                                            borrowings, and indebtedness in the nature of borrowings, of the Connect Ads Group (including
                                            by way of net debit balances, loan stocks, bonds, debentures, notes, commercial paper, finance
                                            leases or similar) owed to any banking, financial, acceptance credit, lending or other similar
                                            institution or organization, to a member of the A15 Group, the Aleph Group or any other person,
                                            and any accrued and outstanding interest thereon; and

 

		(b)	all
                                            indebtedness of the Connect Ads Group for unsatisfied deferred purchase consideration in
                                            respect of shares, assets or businesses owed to any person that is not a member of the Connect
                                            Ads Group;

 

“Put
Option Connect Ads Net Debt” means the Put Option Connect Ads Cash minus the Put Option Connect Ads Indebtedness;

 

“Put
Option Consideration Shares” means the number of newly issued ordinary shares in the share capital of Aleph Cayman determined
in accordance with paragraph 2.14 of this Schedule 7 (A15 Put Option) and specified in the Put Option Statement;

 

“Put
Option Consideration Shares Percentage” has the meaning given in paragraph 2.13 of this Schedule 7 (A15 Put Option);

 

“Put
Option Exercise Notice” means a notice substantially in the form set out in Annex 2 to this Schedule 7 (A15 Put Option);

 

“Put
Option IMS Accounts” means, unless otherwise agreed in writing between A15 and Aleph Cayman, the most recent consolidated financial
statements of the IMS Group delivered by Aleph Cayman to A15 in accordance with Clause 14.3 prior to occurrence of the relevant Put Option
Trigger Event;

 

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“Put
Option IMS Cash” means, in relation to the IMS Group, and as specified in the Put Option IMS Accounts, the aggregate of its
cash in hand or credited to any account with any banking, financial, acceptance credit, lending or other similar institution or organisation,
less:

 

		(a)	any
                                            cash which, is not capable of being lawfully spent, paid, distributed, loaned or released
                                            by an IMS Group Company from the jurisdiction in which it is situated including (within 90
                                            calendar days), without limitation, any cash deposits with banks, rent deposits or any other
                                            cash held as collateral in respect of obligations of any party and any withholding tax in
                                            respect of which a refund has not been or will not be obtained;

 

		(b)	the
                                            aggregate cash value of any declared but unpaid dividends and other distributions attributable
                                            to the shares in the share capital of Aleph Cayman, to the extent that a shareholder of Aleph
                                            Cayman is entitled to receive the relevant dividend or other distribution after the Put Option
                                            Reference Date and that dividend or other distribution is not an IMS Permitted Dividend or
                                            forms part of the IMS Indebtedness; and

 

		(c)	if
                                            the relevant Put Option Trigger Event occurs after Completion, the Put Option Connect Ads
                                            Cash;

 

“Put
Option IMS EBITDA” means the consolidated income from operations under US GAAP (excluding, the Connect Ads Group) less depreciation
and amortization and adjusted (add back) for lease expenses as per IFRS 16 of the IMS Group as at the Put Option Reference Date determined
on the basis of the Put Option IMS Accounts;

 

“Put
Option IMS Indebtedness” means, in relation to the IMS Group, and as specified in the Put Option IMS Accounts, the aggregate
of:

 

		(a)	all
                                            borrowings, and indebtedness in the nature of borrowings, of the IMS Group (including by
                                            way of net debit balances, loan stocks, bonds, debentures, notes, commercial paper, finance
                                            leases or similar) owed to any banking, financial, acceptance credit, lending or other similar
                                            institution or organization, to a member of the Aleph Group or any other person, and any
                                            accrued and outstanding interest thereon; and

 

		(b)	all
                                            indebtedness of the IMS Group for unsatisfied deferred purchase consideration in respect
                                            of shares, assets or businesses owed to any person that is not a member of the IMS Group
                                            (including, for the avoidance of doubt, the Akuma Outstanding Amount to the extent it remains
                                            outstanding at the relevant time),

 

but,
if the relevant Put Option Trigger Event occurs after Completion, excluding the Put Option Connect Ads Indebtedness;

 

“Put
Option IMS Net Debt” means the Put Option IMS Cash minus the Put Option IMS Indebtedness;

 

“Put
Option Non-Acceptance Notice” has the meaning given in paragraph 2.5(b) of this Schedule 7 (A15 Put Option);

 

“Put
Option Period” means:

 

		(a)	if
                                            the Connect Ads Put Option Trigger Event is a Qualifying IPO, the period:

 

		(i)	commencing
                                            on the later of:

 

		(A)	the
                                            date on which the Put Option Statement in respect of such Put Option Trigger Event is agreed
                                            or determined in accordance with paragraph 2.8 of this Schedule 7 (A15 Put Option);
                                            and

 

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		(B)	the
                                            Completion Date; and

 

		(ii)	ending
                                            forty (40) Business Days thereafter;

 

		(b)	if
                                            the Connect Ads Put Option Trigger Event is an Aleph Cayman Change of Control, the period:

 

		(i)	commencing
                                            on the later of:

 

		(A)	the
                                            date on which the Put Option Statement in respect of such Put Option Trigger Event is agreed
                                            or determined in accordance with paragraph 2.8 of this Schedule 7 (A15 Put Option);
                                            and

 

		(B)	the
                                            Completion Date; and

 

		(ii)	ending
                                            forty (40) Business Days thereafter; or

 

		(c)	if
                                            the Connect Ads Put Option Trigger Event is a Change in CEO, the period:

 

		(i)	commencing
                                            on the later of:

 

		(A)	the
                                            date on which the Put Option Statement in respect of such Put Option Trigger Event is agreed
                                            or determined in accordance with paragraph 2.8 of this Schedule 7 (A15 Put Option);
                                            and

 

		(B)	the
                                            Completion Date; and ending forty (40) Business Days thereafter; or

 

		(d)	if
                                            the Connect Ads Put Option Trigger Event is the second (2nd) anniversary of the Completion
                                            Date, the period:

 

		(i)	commencing
                                            on the date on which the Put Option Statement in respect of such Put Option Trigger Event
                                            is agreed or determined in accordance with paragraph 2.8 of this Schedule 7 (A15 Put Option);
                                            and

 

		(ii)	ending
                                            forty (40) Business Days thereafter;

 

“Put Option Reference
Date” means the last day of the accounting reference period covered by the Put Option Accounts;

 

“Put Option Shares”
has the meaning given in paragraph 2.1 of this Schedule 7 (A15 Put Option);

 

“Put Option Statement”
has the mean in given in paragraph 2.4 of this Schedule 7 (A15 Put Option);

 

“Put Option Trigger
Event” means:

 

		(a)	a
                                            Qualifying IPO;

 

		(b)	an
                                            Aleph Cayman Change of Control;

 

		(c)	a
                                            Change in CEO; or

 

		(d)	the
                                            second (2nd) anniversary of the Completion Date; 

 

“Put Option Valuation
Multiple” means:

 

		(a)	the
                                            Qualifying IPO Multiple;

 

		(b)	the
                                            Aleph Cayman Change of Control Multiple; or

 

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		(c)	the
                                            Change in CEO Multiple;

 

		(d)	the
                                            Second Anniversary Multiple, 

 

(as applicable);

 

“Qualifying IPO Multiple”
means the ratio of:

 

		(a)	the
                                            enterprise value of Aleph Cayman; to

 

		(b)	if:

 

		(i)	the
                                            Qualifying IPO occurs prior to Completion, the Put Option IMS EBITDA; or

 

		(ii)	if
                                            the Qualifying IPO occurs after Completion, the Put Option Connect Ads EBITDA plus the Put
                                            Option IMS EBITDA,

 

derived from the Qualifying
IPO; and

 

“Second Anniversary
Multiple” means 8.5 or any other multiple agreed in writing between A15 and Aleph Cayman.

 

		1.2	For
                                            the purposes of this Schedule 7 (A15 Put Option), references to:

 

		(a)	the
                                            “Connect Ads Group” shall be deemed to include Connect Ads and all of its subsidiaries
                                            from time to time; and

 

		(b)	the
                                            “IMS Group” shall be deemed to include Aleph Cayman and all of its subsidiaries
                                            from time to time,

 

in each
case, including, for the avoidance of doubt any subsidiary acquired at any time after the Completion Date.

 

		2.	Put
                                            Option

 

		2.1	In
                                            consideration for the entry into this Agreement, Aleph Cayman grants to A15 an option (the
                                            “Put Option”) to require Aleph Cayman to purchase all (and not some only)
                                            of the remaining shares in Connect Ads held by A15 (the “Put Option Shares”)
                                            on the terms and subject to the provisions of this Schedule 7 (A15 Put Option).

 

		2.2	Subject
                                            to paragraph 2.3 of this Schedule 7 (A15 Put Option), A15 may exercise the Put Option,
                                            once only and in respect of all and not some only of the Put Option Shares, by serving a
                                            Put Option Exercise Notice in accordance with paragraph 2.9 of this Schedule 7 (A15 Put
                                            Option).

 

		2.3	The
                                            Put Option may only be exercised if a Put Option Trigger Event occurs.

 

		2.4	If,
                                            at any time after the Signature Date, a Put Option Trigger Event occurs, Aleph Cayman shall
                                            within ten (10) Business Days of the date of such Put Option Trigger Event, deliver
                                            to A15 a notice in writing (the “Draft Put Option Statement”) specifying:

 

		(a)	reasonable
                                            details of the Put Option Trigger Event, including:

 

		(i)	in
                                            the case of a Qualifying IPO:

 

		(A)	the
                                            Qualifying Exchange;

 

		(B)	the
                                            number of primary shares in Aleph Cayman to be issued and sold by Aleph Cayman;

 

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		(C)	the
                                            number of secondary shares in Aleph Cayman to be sold by each shareholder in Aleph Cayman;
                                            and

 

		(D)	the
                                            offering price per share;

 

		(ii)	in
                                            the case of an Aleph Cayman Change of Control:

 

		(A)	the
                                            identity of the third party purchaser;

 

		(B)	the
                                            number of shares in Aleph Cayman to be sold by Aleph; and

 

		(C)	the
                                            purchase price per share in Aleph Cayman (including any deferred consideration or earn-outs);

 

		(iii)	in
                                            the case of a Change in CEO, the date on which Christian Gaston Taratuta ceased to be CEO
                                            of Aleph Cayman

 

		(b)	the
                                            Put Option Connect Ads EBITDA;

 

		(c)	the
                                            Put Option Connect Ads Cash;

 

		(d)	the
                                            Put Option Connect Ads Indebtedness;

 

		(e)	the
                                            Put Option Connect Ads Net Debt;

 

		(f)	the
                                            Put Option IMS EBITDA;

 

		(g)	the
                                            Put Option IMS Cash;

 

		(h)	the
                                            Put Option IMS Indebtedness;

 

		(i)	the
                                            Put Option IMS Net Debt;

 

		(j)	the
                                            Put Option Valuation Multiple;

 

		(k)	the
                                            Put Option Consideration Shares Percentage; and

 

		(l)	the
                                            number of Put Option Consideration Shares, 

 

and attaching complete and
accurate copies of:

 

		(a)	in
                                            the case of a Qualifying IPO, the admission document and/or prospectus;

 

		(b)	in
                                            the case of an Aleph Cayman Change of Control, the definitive transaction documents;

 

		(c)	the
                                            Put Option Connect Ads Accounts; and

 

		(d)	the
                                            Put Option IMS Accounts.

 

The Parties
acknowledge and agree that the Put Option Connect Ads EBITDA, the Put Option Connect Ads Cash, the Put Option Connect Ads Indebtedness,
the Put Option Connect Ads Net Debt, the Put Option IMS EBITDA, the Put Option IMS Cash, the Put Option IMS Indebtedness and the Put
Option IMS Net Debt shall exclude any inter-company transactions between the IMS Group and the Connect Ads Group other than any invoice
rendered by an IMS Group Company to a Connect Ads Group Company, to recharge the cost of any media purchased by an IMS Group Company,
in respect of a service rendered by such Connect Ads Group Company to a commercial partner in any Connect Ads Territory, as supported
by an arms' length partner agreement.

 

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		2.5	A15
                                            shall, within twenty (20) Business Days of receipt from Aleph Cayman of a Draft Put Option
                                            Statement, either:

 

		(a)	confirm
                                            to Aleph Cayman in writing its acceptance of the Draft Put Option Statement; or

 

		(b)	notify
                                            Aleph Cayman in writing of its non-acceptance of the Draft Put Option Statement (which, for
                                            the avoidance of doubt, may include its non-acceptance of the Put Option Connect Ads Accounts
                                            and/or the Put Option IMS Accounts) (a “Put Option Non-Acceptance Notice”),
                                            together with written details of each matter disputed and of its proposed modifications.

 

		2.6	If
                                            A15 serves a Put Option Non-Acceptance Notice pursuant to paragraph 2.5(b) of this Schedule
                                            7 (A15 Put Option), Aleph Cayman and A15 shall use all reasonable endeavours to meet
                                            and discuss the objections of A15 and to agree the adjustments (if any) required to be made
                                            to the Draft Put Option Statement within fifteen (15) Business Days after Aleph Cayman receives
                                            the Put Option Non-Acceptance Notice.

 

		2.7	If
                                            A15 confirms its acceptance of the Draft Put Option Statement (either as originally submitted
                                            to it or with such modifications as the Parties agree) or fails to notify Aleph Cayman of
                                            its non-acceptance in accordance with paragraph 2.5(b) of this Schedule 7 (A15 Put
                                            Option), the Draft Put Option Statement (incorporating any modifications agreed in writing)
                                            shall constitute the Put Option Statement for the purposes of this Agreement, which shall
                                            be final and binding on the Parties in the absence of manifest error or fraud.

 

		2.8	If
                                            Aleph Cayman and A15 are unable to agree the Draft Put Option Statement within fifteen (15)
                                            Business Days of Aleph Cayman’s receipt of A15’s Put Option Non-Acceptance Notice,
                                            the disputed matters may be referred for determination by an Expert appointed in accordance
                                            with paragraph 3 below.

 

		2.9	Following
                                            the agreement or determination of the Put Option Statement (as applicable), A15 may at any
                                            time during the Put Option Period deliver a Put Option Exercise Notice to Aleph Cayman. For
                                            the avoidance of doubt, if A15 does not exercise the Put Option in respect of any Put Option
                                            Trigger Event, the Put Option shall not lapse and A15 shall be entitled to exercise the Put
                                            Option in respect of any subsequent Put Option Trigger Event, and the provisions of this
                                            Schedule 7 (A15 Put Option) shall apply in respect of any such subsequent Put Option
                                            Trigger Event.

 

		2.10	The
                                            service of a Put Option Exercise Notice shall oblige Aleph Cayman to purchase, and A15 to
                                            sell, the Put Option Shares on the Put Option Completion Date.

 

		2.11	Once
                                            given, a Put Option Exercise Notice may not be revoked without the written consent of Aleph
                                            Cayman.

 

		2.12	A15
                                            shall sell, and Aleph Cayman shall purchase, the Put Option Shares, with all rights attaching
                                            to them at Put Option Completion (including, without limitation, the right to receive all
                                            dividends and distributions declared, made or paid on or after the Put Option Completion
                                            Date) and A15 shall transfer legal and beneficial title to the Put Option Shares to Aleph
                                            Cayman free from all Encumbrances, on the terms of this Agreement.

 

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		2.13	The
                                            aggregate consideration for the sale of the Put Option Shares shall be the allotment and
                                            issuance by Aleph Cayman to A15 of new ordinary shares in the share capital of Aleph Cayman,
                                            which immediately following their allotment and issuance will constitute the percentage of
                                            the entire issued share capital of Aleph Cayman determined in accordance with the following
                                            formula (the “Put Option Consideration Shares Percentage”):

 

A = {0.14 x ((B x C) –
D)} / {((B x C) + (E x C)) – (D + F)}

 

where:

 

“A” =   the
Put Option Consideration Shares Percentage;

 

“B” =   the
Put Option Connect Ads EBITDA;

 

“C” =   the
Put Option Valuation Multiple;

 

“D” =   the
Put Option Connect Ads Net Debt;

 

“E” =   the
Put Option IMS EBITDA; and

 

“F” =   the
Put Option IMS Net Debt.

 

		2.14	The
                                            aggregate number of Put Option Consideration Shares shall be determined in accordance with
                                            the following formula:

 

A = (B / (100% –
C)) x C

 

where:

 

“A” =   the
number of Put Option Consideration Shares;

 

“B”
=   the total number of shares in Aleph Cayman immediately prior to Put Option Completion; and

 

“C” =   the
Put Option Consideration Shares Percentage.

 

		2.15	The
                                            Put Option Consideration Shares shall be allotted and issued free from all Encumbrances and
                                            shall be credited as fully paid and shall rank pari passu in all respects with, and
                                            carry all of the rights and preferences of, the ordinary shares in the share capital of Aleph
                                            Cayman, including the right to receive all dividends, distributions, or returns of capital
                                            declared, made or paid by Aleph Cayman on or after the date on which such shares are allotted
                                            and issued.

 

		2.16	Each
                                            of Aleph and Aleph Cayman hereby irrevocably and unconditionally waives and shall procure
                                            the waiver of any and all restrictions (including pre-emption rights) which may exist in
                                            relation to the allotment and issuance of the Put Option Consideration Shares.

 

		2.17	The
                                            completion of:

 

		(a)	the
                                            sale and purchase of the Put Option Shares; and

 

		(b)	the
                                            allotment and issuance of the Put Option Consideration Shares,

 

		2.18	shall
                                            take place at 10.00 a.m. on the date falling ten (10) Business Days after the date
                                            on which A15 delivers the Put Option Exercise Notice (the “Put Option Completion
                                            Date”) in accordance with paragraph 2.18 of this Schedule 7 (A15 Put Option)
                                            at the registered offices of Connect Ads at 306 307 Mazaya Business Avenue, BB2, Jumeirah
                                            Lakes Towers, Dubai, UAE or such other time, date and/or place as is agreed in writing by
                                            the Parties. The provisions of Clauses 2 (Sale and Purchase of the Sale Shares and the
                                            Swap Shares) and 7.1 (Completion) and paragraphs 1.1, 1.2 and 3.4 of Part 2
                                            of Schedule 5 (Completion Arrangements) shall apply mutatis mutandis to the sale and
                                            purchase of the Put Option Shares and the allotment and issuance of the Put Option Consideration
                                            Shares.

 

		2.19	Aleph
                                            Cayman shall at all times maintain a standing authority to allot and issue new ordinary shares
                                            in Aleph Cayman representing not less than 10% of the entire issued share capital of Aleph
                                            Cayman in accordance with the provisions of this Schedule 7 (A15 Put Option).

 

		2.20	Annex
                                            1 to this Schedule provides worked examples of each of the calculations referred to in paragraph
                                            2. Such worked examples are non-binding and for illustrative purposes only.

 

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		3.	Disputes

 

		3.1	If
                                            Aleph Cayman and A15 are unable to agree the Put Option Statement, within fifteen (15) Business
                                            Days of Aleph Cayman’s receipt of A15’s Put Option Non-Acceptance Notice, the
                                            disputed matters may be referred for determination by either Aleph Cayman or A15 to Ernst &
                                            Young or, if Ernst & Young is unable or unwilling to act, an independent reputable
                                            firm of accountants of international standing to be agreed by Aleph Cayman and A15 in writing
                                            or, failing such agreement, appointed by the President for the time being of the Institute
                                            of Chartered Accountants in England and Wales (the “Expert”).

 

		3.2	The
                                            following provisions shall apply in relation to the Expert:

 

		(a)	within
                                            ten (10) Business Days of the Expert’s appointment, A15 and Aleph Cayman shall
                                            each prepare a statement in writing on the disputed matters which (together with the relevant
                                            supporting documents) shall be submitted to the Expert and simultaneously copied to the other
                                            Party;

 

		(b)	each
                                            of A15 and Aleph Cayman shall be entitled to comment in writing once only on the other’s
                                            submission by written notice to the Expert no later than five (5) Business Days after
                                            receiving that submission, following which neither Party shall be entitled to make further
                                            statements or submissions other than in response to a request from the Expert;

 

		(c)	in
                                            making its decision in relation to the dispute, the Expert shall be directed to apply:

 

		(i)	such
                                            terms of reference as are submitted jointly to it by the Parties in writing any time prior
                                            to its final decision in relation to the dispute; and

 

		(ii)	subject
                                            to paragraph 3.2(c)(i) above, such terms of reference as it deems reasonably appropriate;

 

		(d)	in
                                            giving its determination, the Expert shall state what adjustments (if any) are necessary
                                            to the Put Option Statement in relation to the disputed matters for the purposes of this
                                            Agreement;

 

		(e)	the
                                            Expert shall be requested to notify Aleph Cayman and A15 of its decision within thirty (30)
                                            Business Days of its appointment pursuant to this Schedule 7 (A15 Put Option), or
                                            such longer reasonable period as it may determine;

 

		(f)	the
                                            Expert shall act as an expert (and not as an arbitrator) in making its determination; and

 

		(g)	the
                                            Expert’s determination shall be final and binding on the Parties in the absence of
                                            manifest error or fraud and shall be applied to the Put Option Statement which, as adjusted
                                            in the manner which the Expert has determined is necessary, shall constitute the Put Option
                                            Statement for the purposes of this Agreement.

 

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Annex 1

 

Put Option – Second Anniversary – Worked Examples

 

 

 

    99

     

    

 

 

Annex 2

 

Form of Put Option Exercise Notice

   

	To:	[Aleph Group, Inc]

 

	 	[insert the Aleph Group, Inc’s address]

 

Date: [●]

 

Dear Sirs,

 

Put Option Shares in Aleph Group, Inc

  

We refer to the Amended and Restated Sale and
Purchase Agreement relating to shares in Connect Ads DMCC, dated [●] 2021, between A15 Holding Netherlands B.V., Aleph Group, Inc, IMS
Internet Media Services, Inc., Httpool Holdings UK Limited and Connect Ads DMCC (the “Agreement”). This is the
Put Option Exercise Notice pursuant to paragraph [●] of Schedule [●] to the Agreement. Unless otherwise defined in this Put
Option Exercise Notice, capitalised terms used in it shall have the meanings given to them in the Agreement.

 

We hereby give you notice pursuant to paragraph
[●] of Schedule [●] to the Agreement of our exercise of the Put Option in relation to the Put Option Shares.

 

In accordance with the Agreement, the number
of Put Option Shares to be acquired by you and the number of Put Option Consideration Shares to be allotted and issued by you to us is
set out below.

 

	Number of Put Option Shares to be acquired	[●]
	Number
    of Put Option Consideration Shares to be allotted and issued	[●]

 

In accordance with paragraph [●] of Schedule
[●] to the Agreement, Put Option Completion shall take place on the tenth (10th)
Business Day following the date on which you shall be deemed to have received this Put Option Exercise Notice in accordance with Clause
[●].

 

Yours faithfully,

 

For and on behalf of

 

A15 Holding Netherlands B.V.

 

 

[●]

 

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Schedule 8

 

A15 Anti-Embarrassment Protection

 

Part 1

 

IMS Acquisition - Anti-Embarrassment Protection

 

		1.	Definitions

 

		1.1	For
                                            the purposes of Part 1 of this Schedule 8 (A15 Anti-Embarrassment Protection):

 

“Draft IMS Acquisition Statement”
has the meaning given in paragraph 2.2 of Part 1 of this Schedule 8 (A15 Anti-Embarrassment Protection);

 

“IMS Acquisition”
has the meaning given in paragraph 2.1, Part 1 of this Schedule 8 (A15 Anti-Embarrassment Protection);

 

“IMS Acquisition Accounts”
means the financial statements of the IMS Acquisition Target Company used to establish the purchase price in the IMS Acquisition;

 

“IMS Acquisition Cash Multiple”
means the ratio of:

 

		(a)	the
                                            enterprise value of the IMS Acquisition Target Company; to

 

		(b)	the
                                            IMS Acquisition Target Company EBITDA,

 

used to determine/derived from the
cash consideration payable in respect of the IMS Acquisition;

 

“IMS Acquisition Cash Proportion”
means the proportion of the consideration for the IMS Acquisition satisfied in cash;

 

“IMS Acquisition Non-Acceptance
Notice” has the meaning given in paragraph 2.3, Part 1 of this Schedule 8 (A15 Anti-Embarrassment Protection);

 

“IMS Acquisition Reference
Date” means the last day of the accounting reference period covered by the IMS Acquisition Accounts;

 

“IMS Acquisition Share Multiple”
means the ratio of:

 

		(a)	the
                                            enterprise value of the IMS Acquisition Target Company; to

 

		(b)	the
                                            IMS Acquisition Target Company EBITDA,

 

used to determine/derived from the
share consideration payable in respect of the IMS Acquisition;

 

“IMS Acquisition Shares Proportion”
means the proportion of the consideration for the IMS Acquisition satisfied in shares;

 

“IMS Acquisition Statement”
has the meaning given in paragraph 2.5, Part 1 of this Schedule 8 (A15 Anti-Embarrassment Protection);

 

“IMS Acquisition Target Company”
means the company to be acquired by the IMS Group in the IMS Acquisition;

 

“IMS Acquisition Target Company
Cash” means, in relation to the IMS Acquisition Target Company, and as specified in the IMS Acquisition Accounts, the aggregate
of its cash in hand or credited to any account with any banking, financial, acceptance credit, lending or other similar institution or
organisation, less:

 

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		(a)	any
                                            cash which, is not capable of being lawfully spent, paid, distributed, loaned or released
                                            by the IMS Acquisition Target Company from the jurisdiction in which it is situated including
                                            (within 90 calendar days), without limitation, any cash deposits with banks, rent deposits
                                            or any other cash held as collateral in respect of obligations of any party and any withholding
                                            tax in respect of which a refund has not been or will not be obtained; and

 

		(b)	the
                                            aggregate cash value of any declared but unpaid dividends and other distributions attributable
                                            to the shares in the share capital of IMS Acquisition Target Company, to the extent that
                                            the relevant dividend or other distribution forms part of the IMS Disposal Target Company
                                            Indebtedness;

 

“IMS Acquisition Target Company
EBITDA” means the consolidated earnings before interest, tax depreciation and amortization of the IMS Acquisition Target Company
as at the IMS Acquisition Reference Date determined on the basis of the IMS Acquisition Accounts;

 

“IMS Acquisition Target Company
Indebtedness” means, in relation to the IMS Acquisition Target Company, and as specified in the IMS Acquisition Accounts, the
aggregate of:

 

		(a)	all
                                            borrowings, and indebtedness in the nature of borrowings, of the IMS Disposal Target Company
                                            (including by way of net debit balances, loan stocks, bonds, debentures, notes, commercial
                                            paper, finance leases or similar) owed to any banking, financial, acceptance credit, lending
                                            or other similar institution or organization or any other person, and any accrued and outstanding
                                            interest thereon; and

 

		(b)	all
                                            indebtedness of the IMS Acquisition Target Company for unsatisfied deferred purchase consideration
                                            in respect of shares, assets or businesses owed to any person;

 

“IMS Acquisition Target Company
Net Debt” means the IMS Acquisition Target Company Cash minus the IMS Acquisition Target Company Indebtedness; and

 

“IMS Acquisition Top-Up Amount”
has the meaning given in paragraph 2.7(a), Part 1 of this Schedule 8 (A15 Anti-Embarrassment Protection) or paragraph 2.7(c)(i),
Part 1of this Schedule 8 (A15 Anti-Embarrassment Protection) (as applicable).

 

		1.2	For
                                            the purposes of Part 1 of this Schedule 8 (A15 Anti-Embarrassment Protection),
                                            references to:

 

		(a)	the
                                            “Connect Ads Group” shall be deemed to include Connect Ads and all of its subsidiaries
                                            from time to time; and

 

		(b)	the
                                            “IMS Group” shall be deemed to include Aleph Cayman and all of its subsidiaries
                                            from time to time,

 

in each case, including, for the avoidance
of doubt any subsidiary acquired at any time after the Completion Date).

 

		2.	IMS
                                            Acquisition Top-Up

 

		2.1	If,
                                            at any time during the period commencing on the Signature Date and ending on the Completion
                                            Date, Aleph Cayman or any member of the IMS Group (including after Completion the Connect
                                            Ads Group), directly or indirectly, purchases any business, whether by means of a sale of
                                            shares, sale of assets, merger, a combination of the foregoing or otherwise, and whether
                                            by means of one or more than one transaction, (save for the avoidance of doubt, the acquisition
                                            of any or all of shares in Httpool held by Akuma in connection with the Akuma Flip-Up and
                                            CVC Transaction) (each such transaction, an “IMS Acquisition”) at an IMS Acquisition
                                            EBITDA multiple in excess of:

 

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		(a)	where
                                            the consideration for such IMS Acquisition is satisfied wholly in cash, 8;

 

		(b)	where
                                            the consideration for such IMS Acquisition is satisfied wholly in shares, 6.5; and

 

		(c)	where
                                            the consideration for such IMS Acquisition is satisfied by a combination of cash and shares:

 

		(i)	for
                                            the portion of the consideration satisfied in cash, 8; and

 

		(ii)	for
                                            the portion of the consideration satisfied in shares, 6.5,

 

then, Aleph Cayman shall, subject to
Completion, compensate A15 in accordance with Part 1 of this Schedule 8 (A15 Anti-Embarrassment Protection).

 

		2.2	IMS
                                            shall within ten (10) Business Days of date of such IMS Acquisition, deliver to A15
                                            a notice in writing (the “Draft IMS Acquisition Statement”) specifying:

 

		(a)	reasonable
                                            details of the IMS Acquisition, including:

 

		(i)	the
                                            IMS Acquisition Target Company/business;

 

		(ii)	the
                                            purchase price (including any deferred consideration or earn-outs);

 

		(iii)	the
                                            IMS Acquisition Reference Date;

 

		(iv)	the
                                            IMS Acquisition Target Company Cash;

 

		(v)	the
                                            IMS Acquisition Target Company Indebtedness;

 

		(vi)	the
                                            IMS Acquisition Target Company Net Debt; and

 

		(vii)	the
                                            IMS Acquisition Target Company EBITDA;

 

		(b)	where
                                            the consideration for such IMS Acquisition is satisfied wholly in cash:

 

		(i)	the
                                            IMS Acquisition Cash Multiple; and

 

		(ii)	the
                                            IMS Acquisition Top-Up Amount;

 

		(c)	where
                                            the consideration for such IMS Acquisition is satisfied wholly in shares:

 

		(i)	the
                                            IMS Acquisition Share Multiple; and

 

		(ii)	the
                                            IMS Acquisition Top-Up Amount,

 

		(d)	where
                                            the consideration for such IMS Acquisition is satisfied by a combination of cash and shares:

 

		(i)	the
                                            IMS Acquisition Cash Multiple;

 

		(ii)	the
                                            IMS Acquisition Cash Proportion;

 

		(iii)	the
                                            IMS Acquisition Top-Up Amount;

 

		(iv)	the
                                            IMS Acquisition Share Multiple; and

 

		(v)	the
                                            IMS Acquisition Shares Proportion,

 

and in each case, attaching a complete
and accurate copy of the IMS Acquisition Accounts and the definitive transaction documents in respect of such IMS Acquisition.

 

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		2.3	A15
                                            shall, within twenty (20) Business Days of receipt from Aleph Cayman of the Draft IMS Acquisition
                                            Statement, either:

 

		(a)	confirm
                                            to Aleph Cayman in writing its acceptance of the Draft IMS Acquisition Statement; or

 

		(b)	notify
                                            Aleph Cayman in writing of its non-acceptance of the Draft IMS Acquisition Statement (an
                                            “IMS Acquisition Non-Acceptance Notice”), together with written details
                                            of each matter disputed and of its proposed modifications.

 

		2.4	If
                                            A15 serves an IMS Acquisition Non-Acceptance Notice pursuant to paragraph 2.3(b), Part 1
                                            of this Schedule 8 (A15 Anti-Embarrassment Protection), Aleph Cayman and A15 shall
                                            use all reasonable endeavours to meet and discuss the objections of A15 and to agree the
                                            adjustments (if any) required to be made to the Draft IMS Acquisition Statement within fifteen
                                            (15) Business Days after Aleph Cayman receives the IMS Acquisition Non-Acceptance Notice.

 

		2.5	If
                                            A15 confirms its acceptance of the Draft IMS Acquisition Statement (either as originally
                                            submitted to it or with such modifications as the Parties agree) or fails to notify Aleph
                                            Cayman of its non-acceptance in accordance with paragraph 2.3(b), Part 1 of this Schedule
                                            8 (A15 Anti- Embarrassment Protection), the Draft IMS Acquisition Statement (incorporating
                                            any modifications agreed in writing) shall constitute the IMS Acquisition Statement for the
                                            purposes of this Agreement, which shall be final and binding on the Parties in the absence
                                            of manifest error or fraud.

 

		2.6	If
                                            Aleph Cayman and A15 are unable to agree the Draft IMS Acquisition Statement within fifteen
                                            (15) Business Days of Aleph Cayman’s receipt of A15’s IMS Acquisition Non-Acceptance
                                            Notice, the disputed matters may be referred for determination by an Expert and the provisions
                                            of paragraph 3 of Schedule 7 (A15 Put Option) shall apply mutatis mutandis as
                                            if all references to the “Put Option Statement” were references to the Draft
                                            IMS Acquisition Statement.

 

		2.7	Following
                                            the agreement or determination of the IMS Acquisition Statement (as applicable), Aleph Cayman
                                            shall pay to A15 immediately following the later of (a) Completion; and (b) completion
                                            of the IMS Acquisition, an amount, in cash, in US$, determined in accordance with the following
                                            formula (the “IMS Acquisition Top-Up Amount”):

 

		(a)	where
                                            the consideration for the IMS Acquisition is satisfied wholly in cash:

 

A = (((B – 8) x C) – D)
x E

 

where:

 

“A” = the IMS Acquisition
Top-Up Amount;

 

“B” = the IMS Acquisition
Cash Multiple;

 

“C” = the IMS Acquisition
Target Company EBITDA;

 

“D” = the IMS Acquisition
Target Company Net Debt; and

 

“E” =the Consideration
Shares Percentage;

 

		(b)	where
                                            the consideration for the IMS Acquisition is satisfied wholly in shares:

 

A = (((B – 6.5) x C) –
D) x E

 

where:

 

“A” = the IMS Acquisition
Top-Up Amount;

  

“B” = the IMS Acquisition
Share Multiple;

 

“C” = the IMS Acquisition
Target Company EBITDA;

 

“D” = the IMS Acquisition
Target Company Net Debt; and

 

“E” =the Consideration
Shares Percentage;

 

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		(c)	where
                                            the consideration for the IMS Acquisition is satisfied by a combination of cash and shares,
                                            Aleph Cayman shall:

 

A = (((((B – 8) x C) –
D) x E) x F) + (((((G – 6.5) x C) – D) x H) x F)

 

where:

 

“A” =     the
IMS Acquisition Top-Up Amount;

 

“B” =     the
IMS Acquisition Cash Multiple;

 

“C” =     the
IMS Acquisition Target Company EBITDA;

 

“D” =     the
IMS Acquisition Target Company Net Debt;

 

“E” =     the
IMS Acquisition Cash Proportion;

 

“F” =     the
Consideration Shares Percentage;

 

“G” =     the
IMS Acquisition Shares Multiple; and

 

“H” =     the
IMS Acquisition Shares Proportion.

 

		2.8	For
                                            the purposes of Part 1 of this Schedule 8:

 

		(a)	the
                                            IMS Acquisition shall be deemed to have taken place prior to the Completion Date if a letter
                                            of intent, offer to purchase, agreement to sell or other similar agreement has been concluded
                                            within such period; and

 

		(b)	in
                                            the event that all or any part of the IMS Acquisition does not comprise cash or shares, the
                                            value of such consideration shall be determined by the Expert appointed in accordance with
                                            paragraph 3 of Schedule 7. The decision of the Expert shall, in the absence of manifest error
                                            be final and binding on the Parties.

 

		2.9	Annex
                                            1 to Part 1 of this Schedule provides worked examples of each of the calculations referred
                                            to in paragraph 2. Such worked examples are non-binding and for illustrative purposes only.

 

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Annex 1

 

IMS Acquisition - Anti-Embarrassment Protection – Worked
Examples

 

 

 

 

 

    106

     

    

 

 

 

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Part 2

 

IMS Disposal - Anti-Embarrassment Protection

 

	1.	Definitions

 

	1.1	For the purposes of Part 2 of this Schedule 8 (A15 Anti-Embarrassment Protection):

 

“Draft IMS Disposal Statement”
has the meaning given in paragraph 2.2, Part 2 of this Schedule 8 (A15 Anti-Embarrassment Protection);

 

“IMS Disposal” has
the meaning given in paragraph 2, Part 2 of this Schedule 8 (A15 Anti- Embarrassment Protection);

 

“IMS Disposal Accounts”
means the most recent financial statements of the IMS Disposal Target Company delivered by Aleph Cayman to A15 in accordance with the
provisions of Clause 14.3;

 

“IMS Disposal Multiple”
means the ratio of:

 

		(a)	the enterprise value of the IMS Disposal Target Company; to

 

		(b)	the IMS Disposal Target Company EBITDA,

 

used to determine/derived from the
consideration payable in respect of the IMS Disposal Target Company;

 

“IMS Disposal Non-Acceptance
Notice” has the meaning given in paragraph 2.3(b), Part 2 of this Schedule 8 (A15 Anti-Embarrassment Protection);

 

“IMS Disposal Reference Date”
means the last day of the accounting reference period covered by the IMS Acquisition Accounts;

 

“IMS Disposal Statement”
has the meaning given in paragraph 2.3(b), Part 2 of this Schedule 8 (A15 Anti-Embarrassment Protection);

 

“IMS Disposal Target Company”
means the IMS Group Company sold in the IMS Disposal;

 

“IMS Disposal Target Company
Cash” means, in relation to the IMS Disposal Target Company, and as specified in the IMS Disposal Accounts, the aggregate of
its cash in hand or credited to any account with any banking, financial, acceptance credit, lending or other similar institution or organisation,
less:

 

		(a)	any cash which, is not capable of being
                                            lawfully spent, paid, distributed, loaned or released by the IMS Disposal Target Company
                                            from the jurisdiction in which it is situated including (within 90 calendar days), without
                                            limitation, any cash deposits with banks, rent deposits or any other cash held as collateral
                                            in respect of obligations of any party and any withholding tax in respect of which a refund
                                            has not been or will not be obtained;

 

		(b)	the aggregate cash value of any declared
                                            but unpaid dividends and other distributions attributable to the shares in the share capital
                                            of IMS Disposal Target Company, to the extent that the relevant dividend or other distribution
                                            after the IMS Disposal Reference Date forms part of the IMS Disposal Target Company Indebtedness;
                                            and

 

“IMS Disposal Target Company
EBITDA” means the consolidated Income from operations (under IFRS / US GAAP, as applicable) less depreciation and amortization
and adjusted (add back) for lease expenses as per IFRS 16 of the IMS Disposal Target Company as at the IMS Disposal Reference Date determined
on the basis of the IMS Disposal Accounts;

 

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“IMS Disposal Target Company
Indebtedness” means, in relation to the IMS Disposal Target Company, and as specified in the IMS Disposal Accounts, the aggregate
of:

 

		(a)	all borrowings, and indebtedness in the
                                            nature of borrowings, of the IMS Disposal Target Company (including by way of net debit balances,
                                            loan stocks, bonds, debentures, notes, commercial paper, finance leases or similar) owed
                                            to any banking, financial, acceptance credit, lending or other similar institution or organization,
                                            or any other person, and any accrued and outstanding interest thereon; and

 

		(b)	all indebtedness of the IMS Disposal Target
                                            Company for unsatisfied deferred purchase consideration in respect of shares, assets or businesses
                                            owed to any person that is not a member of the IMS Group;

 

“IMS Disposal Target Company
Net Debt” means the IMS Disposal Target Company Cash minus the IMS Disposal Target Company Indebtedness; and

 

“IMS Disposal Top-Up Amount” has the
meaning given in paragraph 2.7, Part 2 of this Schedule 8 (A15 Anti-Embarrassment Protection).

 

	1.2	For the purposes of Part 2 of this Schedule 8 (A15 Anti-Embarrassment Protection), references
                                 to:

 

		(a)	the “Connect Ads Group” shall be deemed to include Connect
                                            Ads and all of its subsidiaries from time to time; and

 

		(b)	the “IMS Group” shall be deemed to include Aleph Cayman
                                            and all of its subsidiaries from time to time,

 

in each case, including, for the avoidance of doubt any
subsidiary acquired at any time after the Completion Date).

 

	2.	IMS Disposal Top-Up

 

	2.1	If, at any time during the period commencing on the Signature Date and
                                 ending on the Completion Date, Aleph Cayman or any member of the IMS Group (including after Completion
                                 the Connect Ads Group), directly or indirectly, sells any business, whether by means of a sale of shares,
                                 sale of assets, merger, a combination of the foregoing or otherwise, and whether by means of one or
                                 more than one transaction, (each such transaction, an “IMS Disposal”) at an IMS Disposal
                                 Multiple of less than 6.5, then Aleph Cayman shall, subject to Completion, compensate A15 in accordance
                                 with Part 2 of this Schedule 8 (A15 Anti-Embarrassment Protection).

 

	2.2	Aleph Cayman shall within ten (10) Business Days of date of such
                                 IMS Disposal, deliver to A15 a notice in writing (the “Draft IMS Disposal Statement”)
                                 specifying:

 

		(a)	reasonable details of the IMS Disposal, including:

 

		(i)	the IMS Disposal Target Company/business; and

 

		(ii)	the purchase price (including any deferred consideration or earn-outs);

 

		(b)	the IMS Disposal Multiple;

 

		(c)	the IMS Disposal Top-Up Amount;

 

		(d)	the IMS Disposal Reference Date;

 

		(e)	the IMS Disposal Target Company Cash;

 

		(f)	the IMS Disposal Target Company Indebtedness;

 

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		(g)	the IMS Disposal Target Company Net Debt; and

 

		(h)	the IMS Disposal Target Company EBITDA;

 

and in each case, attaching a complete
and accurate copy of the IMS Disposal Accounts and the definitive transaction documents in respect of such IMS Disposal.

 

	2.3	A15 shall, within twenty (20) Business Days of receipt from Aleph Cayman of the Draft IMS Disposal
                                 Statement, either:

 

		(a)	confirm to Aleph Cayman in writing its acceptance of the Draft IMS
                                            Disposal Statement; or

 

		(b)	notify Aleph Cayman in writing of its
                                            non-acceptance of the Draft IMS Disposal Statement (which, for the avoidance of doubt, may
                                            include its non-acceptance of the IMS Disposal Accounts) (an “IMS Disposal Non-Acceptance
                                            Notice”), together with written details of each matter disputed and of its proposed
                                            modifications.

 

	2.4	If A15 serves an IMS Disposal Non-Acceptance Notice pursuant to paragraph
                                 2.3(b), Part 2 of this Schedule 8 (A15 Anti-Embarrassment Protection), Aleph Cayman and
                                 A15 shall use all reasonable endeavours to meet and discuss the objections of A15 and to agree the adjustments
                                 (if any) required to be made to the Draft IMS Disposal Statement within fifteen (15) Business Days after
                                 Aleph Cayman receives the IMS Disposal Non-Acceptance Notice.

 

	2.5	If A15 confirms its acceptance of the Draft IMS Disposal Statement (either
                                 as originally submitted to it or with such modifications as the Parties agree) or fails to notify Aleph
                                 Cayman of its non-acceptance in accordance with 2.3(b), Part 2 of this Schedule 8 (A15 Anti-
                                 Embarrassment Protection), the Draft IMS Disposal Statement (incorporating any modifications agreed
                                 in writing) shall constitute the IMS Disposal Statement for the purposes of this Agreement, which shall
                                 be final and binding on the Parties in the absence of manifest error or fraud.

 

	2.6	If Aleph Cayman and A15 are unable to agree the Draft IMS Disposal Statement
                                 within fifteen (15) Business Days of Aleph Cayman’s receipt of A15’s IMS Disposal Non-Acceptance
                                 Notice, the disputed matters may be referred for determination by an Expert and the provisions of paragraph
                                 3 of Schedule 7 (A15 Put Option) shall apply mutatis mutandis as if all references to
                                 the “Put Option Statement” were references to the Draft IMS Disposal Statement.

 

	2.7	Following the agreement or determination of the IMS Disposal Statement
                                 (as applicable), Aleph Cayman shall pay to A15 immediately following the later of (a) Completion;
                                 and (b) completion of the IMS Disposal, an amount, in cash, in US$, determined in accordance with
                                 the following formula (the “IMS Disposal Top-Up Amount”):

 

A = (((6.5 – B) x C) – D) x E

 

where:

 

“A” = the IMS Disposal Top-Up Amount;

 

“B” = the IMS Disposal Multiple;

 

“C” = the IMS Disposal Target Company EBITDA;

 

“D” = the IMS Disposal Target Company Net Debt;
and

 

“E” = the Consideration Shares Percentage.

 

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	2.8	For the purposes of Part 2 of this Schedule 8:

 

		(a)	the IMS Disposal shall be deemed to have
                                            taken place prior to the Completion Date if a letter of intent, offer to purchase, agreement
                                            to sell or other similar agreement has been concluded within such period; and

 

		(b)	in the event that all or any part of the
                                            IMS Disposal does not comprise cash or shares, the value of such consideration shall be determined
                                            by the Expert appointed in accordance with paragraph 3 of Schedule 7. The decision of the
                                            Expert shall, in the absence of manifest error be final and binding on the Parties.

 

	2.9	Annex 1 to Part 2 of this Schedule provides worked examples of
                                 the calculation referred to in paragraph 2. Such worked examples are non-binding and for illustrative
                                 purposes only.

 

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Annex 1

 

IMS Disposal - Anti-Embarrassment Protection – Worked Examples

 

 

 

 

    112

     

    

 

Schedule 9

 

A15 Warranties

 

	1.	Incorporation, Capacity and Authority

 

	1.1	A15 has been duly incorporated, and is validly existing under the laws of the Netherlands.

 

	1.2	A15 has full power, authority and capacity to enter into, deliver and
                                 perform this Agreement and each other Transaction Document to which it is a party.

 

	1.3	The execution, delivery and performance by A15 of this Agreement and the other Transaction Documents
  to which it is a party will not constitute a breach of (a) any Laws applicable to A15; (b) the provisions of its articles
  of association, by-laws or equivalent constitutional documents; or (c) any Orders against, or binding upon, A15 or (d) any
  other material agreements or instruments to which A15 is party or by which A15 is bound.

 

	1.4	Except for the Pre-Completion Conditions and the processes referred
                                 to in Clause 6 (Pre-Completion Arrangements), to the Knowledge of A15, the execution, delivery
                                 and performance by A15 of its obligations under this Agreement and the other Transaction Documents to
                                 which it is a party will not require it to obtain any consent or approval of, or give any notice to
                                 or make any registration or filing with, any Governmental Authority which has not been obtained or made
                                 at the Signature Date on a basis both unconditional and which cannot be revoked.

 

	1.5	This Agreement and each of the other Transaction Documents to which
                                 it is a party have been duly executed and delivered by A15, and this Agreement and each of the other
                                 Transaction Documents to which it is a party constitute the legal, valid and binding obligations of
                                 A15, enforceable against it in accordance with their terms, except as may be limited by bankruptcy or
                                 insolvency Laws or other similar Laws affecting creditors' rights in general.

 

	1.6	A15 is not insolvent or unable to pay its debts under the insolvency
                                 laws of the jurisdiction of its incorporation nor has it stopped paying debts as they fall due. No moratorium
                                 has been obtained nor any Order been made, petition presented or resolution passed for the winding-up
                                 or bankruptcy of A15. No administrator, receiver, monitor, manager or equivalent officer has been appointed
                                 by any person in respect of A15 or all or any material part of its assets and, to the Knowledge of A15,
                                 no steps have been taken to initiate any such appointment and no voluntary arrangement has been proposed
                                 relating to A15. A15 has not become subject to any analogous proceedings, appointments or arrangements
                                 under the laws of any applicable jurisdiction.

 

	1.7	A15 is not a Government Official, and no Government Official has any
                                 legal, financial or beneficial interest in A15 or in any Transaction Document, and none of the owners
                                 or directors of A15 is a Government Official.

 

	2.	The Sale Shares and the Swap Shares

 

	2.1	A15 is the sole legal and beneficial owner of all of the Sale Shares and Swap Shares.

 

	2.2	The Sale Shares constitute fifty-one per cent. (51%) of the entire issued share capital of Connect
                                 Ads on a Fully-Diluted Basis.

 

	2.3	The Swap Shares constitute thirty-five per cent. (35%) of the entire issued share capital of Connect
                                 Ads on a Fully-Diluted Basis.

 

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	2.4	A15 is the sole legal and beneficial owner of the
                                            remaining 24 shares in the share capital of Connect Ads, which together with the Sale Shares
                                            and Swap Shares constitute the entire issued share capital of Connect Ads on a Fully-Diluted
                                            Basis.

 

	2.5	A15 has good and valid title to the Sale Shares
                                            and the Swap Shares, free and clear of all Encumbrances and is free to transfer the legal
                                            and beneficial interest in the Sale Shares and the Swap Shares and there is no agreement
                                            or commitment to give or create any Encumbrance over or affecting the Sale Shares or the
                                            Swap Shares.

 

	2.6	The Sale Shares and the Swap Shares have been duly
                                            authorized, validly issued and allotted and are fully paid-up in accordance with applicable
                                            Law.

 

	2.7	There are no agreements or commitments outstanding
                                            which give to any person the right to call for the issue of any shares, debentures or other
                                            securities of Connect Ads or accord to any person the right to call for the issue of any
                                            such shares, debentures or other securities.

 

	3.	The Connect Ads Group

 

	3.1	The particulars of each Connect Ads Group Company
                                            set out in Part 2 of Schedule 1 (The Connect Ads Group) are true and accurate.

 

	3.2	The entity identified in Part 1 of Schedule
                                            1 (The Connect Ads Group) as the holder of the shares in a Connect Ads Subsidiary
                                            Undertaking is the legal and beneficial owner of such shares, which constitute the entire
                                            allotted and issued share capital of such Connect Ads Subsidiary Undertaking.

 

	3.3	The shares in each Connect Ads Group Company are
                                            free from all Encumbrances, and there is no agreement or commitment to give or create any
                                            Encumbrance over or affecting the shares of any Connect Ads Subsidiary Undertaking.

 

	3.4	The shares in each Connect Ads Subsidiary Undertaking
                                            have been duly authorized, validly issued and allotted and are fully paid-up in accordance
                                            with applicable Law.

 

	3.5	There are no agreements or commitments outstanding
                                            which call for the issue of any shares or debentures in or other securities of any Connect
                                            Ads Subsidiary Undertaking or accord to any person the right to call for the issue of any
                                            such shares, debentures or other securities.

 

	3.6	No Connect Ads Group Company has any interest in
                                            the share capital, loan capital or other securities or otherwise controls or takes part in
                                            the management of any other company which is not a Connect Ads Group Company.

 

	3.7	No Connect Ads Group Company has at any time had
                                            any subsidiary or subsidiary undertaking except for the Connect Ads Group Companies.

 

	3.8	No Connect Ads Group Company acts or carries on
                                            business together with any other person in any partnership or other unincorporated association,
                                            joint venture or consortium.

 

	3.9	No Connect Ads Group Company has any branch or
                                            agency in any jurisdiction other than in the jurisdiction of its incorporation.

 

	4.	Constitutional and Corporate Matters

 

	4.1	Connect Ads has been duly incorporated or organized,
                                            and is validly existing, under the Laws of the DMCC, and each other Connect Ads Group Company
                                            has been duly incorporated or organized, and is validly existing, under the laws of its jurisdiction
                                            of incorporation.

 

	4.2	Each Connect Ads Group Company has full power to
                                            carry on its business as it is carried on at the Signature Date.

 

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	4.3	The copies of each Connect Ads Group Company’s
                                            Organizational Documents contained in the Connect Ads Data Room are up-to-date, accurate
                                            and complete, reflect all amendments made until immediately preceding the Signature Date
                                            and are maintained in accordance with applicable Laws, in each case, in all material respects.

 

	4.4	The copies of the minute books of shareholder meetings
                                            and other records of the Connect Ads Group Company were properly maintained in all material
                                            respects.

 

	4.5	All filings and returns that each Connect Ads Group
                                            Company is required to file in accordance with applicable Laws have been correctly made and
                                            duly filed or delivered, in each case, in all material respects.

 

	4.6	All dividends or distributions declared, made or
                                            paid by any Connect Ads Group Company have been declared, made or paid in accordance with
                                            the applicable Organizational Documents and all applicable Laws, in each case, in all material
                                            respects.

 

	5.	Contracts

 

	5.1	Save for any partner agreements entered into by
                                            the Connect Ads Group, no Connect Ads Group Company is a party to any contract which:

 

		(a)	involves
                                            revenue or expenditure in excess of fifty thousand US Dollars (US$50,000) per annum; or

 

		(b)	is,
                                            in the reasonable opinion of A15, of an unusual or exceptional nature or is not in the ordinary
                                            course of business; or

 

		(c)	in
                                            the reasonable opinion of A15, cannot readily be performed by it on time except with undue
                                            effort or unusual expenditure; or

 

		(d)	restricts to a material extent the ability of any Connect Ads Group
                                            Company to carry on any part of its business in the jurisdictions in which it operates; or

 

	 	(e)	is an agency, distribution, franchise, licensing, joint venture or shareholders’ agreement,

 

(each such contract a “Connect Ads Material Contract”,
which term, for the avoidance of doubt, excludes insertion orders).

 

	5.2	A complete and accurate copy of each Connect Ads Material Contract (which,
                                 for the avoidance of doubt, does not include any insertion orders) is contained in the Connect Ads Data
                                 Room.

 

	5.3	A complete and accurate copy of each partner agreement, as amended,
                                 with revenue in excess of fifty thousand US Dollars (US$50,000), entered into by a Connect Ads Group
                                 Company is contained in the Connect Ads Data Room (each such agreement a “Connect Ads Partner
                                 Agreement”).

 

	5.4	Each of the Connect Ads Material Contracts and the Connect Ads Partner
                                 Agreements: (a) is in full force and effect; (b) no written notice alleging any breach or
                                 invalidity of any Connect Ads Material Contract or Connect Ads Partner Agreement has been sent or received
                                 by any Connect Ads Group Company in the twelve (12) months immediately preceding the Signature Date;
                                 and (c) no written notice of termination of any Connect Ads Material Contract or Connect Ads Partner
                                 Agreement has been served or received by any Connect Ads Group Company in the twelve (12) months immediately
                                 preceding the Signature Date and to the Knowledge of A15, there are no grounds for termination, rescission
                                 or repudiation of the Connect Ads Material Contracts or Connect Ads Partner Agreements.

 

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	5.5	To the Knowledge of A15, no Connect Ads Group Company is in default
                                 of any Connect Ads Material Contract or Connect Ads Partner Agreement where such default would be material
                                 having regard to the trading, profits or financial position of the Connect Ads Group.

 

	5.6	No guarantee, indemnity, mortgage, charge, pledge, lien or other security
                                 agreement has been given or entered into by a Connect Ads Group Company in respect of any obligations
                                 of another person (other than another member of the Connect Ads Group), including any member of the
                                 A15 Group.

 

	5.7	No guarantee, indemnity, mortgage, charge, pledge, lien or other security
                                 agreement or arrangement has been given or entered into by any person other than a Connect Ads Group
                                 Company, including any member of the A15 Group, in respect of any obligations of a Connect Ads Group
                                 Company.

 

	5.8	No Connect Ads Group Company is a party to a Connect Ads Material Contract
                                 which is not of an arm’s length nature to any material extent.

 

	5.9	There are no brokerage commissions, finder’s fees or similar fees
                                 or commissions payable by any Connect Ads Group Company in connection with the Transactions (excluding
                                 for the avoidance of doubt legal and other professional advisory fees).

 

	6.	Trading

 

	6.1	No customer or supplier of any Connect Ads Group Company which accounted
                                 for ten per cent. (10%) or more by value of the Connect Ads Group’s annual supply or sales, as
                                 the case may be, in the financial year ended 31 December 2020 has during the six (6) months
                                 immediately preceding the Signature Date ceased or substantially reduced its trading with or supplies
                                 to the Connect Ads Group. No such customer or supplier has given written notice of its intention to
                                 terminate or substantially reduce its business with any Connect Ads Group Company to such Connect Ads
                                 Group Company.

 

	6.2	No Connect Ads Group Company carries on business under any name other
                                 than its own corporate name.

 

	7.	Compliance with Laws

 

	7.1	Each Connect Ads Group Company has, in the three (3) years immediately
                                 preceding the Signature Date, carried out its business in all material respects in compliance with all
                                 applicable laws and regulations in any relevant jurisdictions.

 

	7.2	Each Connect Ads Group Company uses all personal data it holds, processes
                                 or uses, including without limitation, the customer information it receives through its website, or
                                 otherwise, in compliance in all material respects with applicable Law.

 

	7.3	Each Connect Ads Group Company has security measures in place that are,
                                 generally consistent with industry practices for similarly situated companies to protect the customer
                                 information it receives through its website, or otherwise, and which it stores in its computer systems
                                 to maintain the confidentiality and integrity of such customer information and to protect it from illegal
                                 use by third parties.

 

	7.4	No Connect Ads Group Company has, in the last three (3) years,
                                 received any:

 

		(a)	written notice, request, correspondence
                                            or other written communication from any governmental or state agency, body, department, board,
                                            official or entity exercising regulatory or supervisory authority pursuant to any applicable
                                            data protection Laws, or been subject to any enforcement action (including any fines or other
                                            sanctions), in each case relating to a breach or alleged breach of their obligations under
                                            the applicable data protection Laws; or

 

		(b)	written claim, complaint, correspondence
                                            or other written communication from a data subject or any other person claiming a right to
                                            compensation under the applicable data protection Laws, or alleging any material breach of
                                            the applicable data protection Laws.

 

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	8.	Anti-Bribery Laws

 

	8.1	No equity interests in any Connect Ads Group Company were acquired using
                                 proceeds that were obtained in violation of any Anti-Bribery Law applicable to the Connect Ads Group,
                                 and A15 has no Knowledge of any claim, charge or allegation by or on behalf of any Governmental Authority
                                 that any equity interests in any Connect Ads Group Company were acquired using proceeds that were, directly
                                 or indirectly, obtained from any action or activity in violation of any Anti-Bribery Law applicable
                                 to the Connect Ads Group.

 

	8.2	No Connect Ads Group Company has taken any action that caused any such Connect Ads Group Company
                                 to violate any Anti-Bribery Law applicable to them.

 

	8.3	No Connect Ads Group Company, nor, to the Knowledge of A15, any of their
                                 respective directors, officers, employees, agents or representatives, has, in connection with the Business,
                                 made or agreed to make any act corruptly in furtherance of an offer, payment, promise to pay, or authorization
                                 of the payment of any money, or offer, gift, promise to give, or authorization of the giving of anything
                                 of value to or releasing any liability of any Governmental Authority or Government Official for the
                                 purposes of unlawfully:

 

		(a)	influencing any act or decision of such
                                            Governmental Authority or Government Official in its or her official capacity;

 

		(b)	inducing such Governmental Authority or
                                            Government Official to do or omit to do an act in violation of the lawful duty of such Governmental
                                            Authority or Government Official;

 

		(c)	securing any improper advantage;

 

		(d)	inducing such Governmental Authority or
                                            Government Official to use its or his/her influence with a Governmental Authority to affect
                                            or influence any act or decision of such Governmental Authority, in order to assist any Connect
                                            Ads Group Company or its Connected Persons in obtaining or retaining business for or with,
                                            or directing business to, any person; or

 

		(e)	influencing any person, while knowing
                                            that all or a portion of such money or thing of value will be offered, given, or promised,
                                            directly or indirectly, to any Governmental Authority or Government Official for the purposes
                                            of influencing or inducing any act or decision of such Governmental Authority or Government
                                            Official, in its or his/her official capacity; or

 

		(f)	inducing such Governmental Authority or
                                            Government Official to do or omit to do any act in violation of the lawful duty of such Governmental
                                            Authority or Government Official.

 

	9.	Licences

 

	9.1	All material licences, registrations, consents and other authorizations
                                 required by each Connect Ads Group Company in order for it to conduct its business as it is currently
                                 conducted (the “Connect Ads Licences”) have been obtained.

 

	9.2	Each Connect Ads Licence is in full force and effect and, to the Knowledge
                                 of A15, there are no grounds for the suspension, cancellation, variation, revocation or termination
                                 of any Connect Ads Licences.

 

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	10.	Assets

 

	10.1	Save for assets that are leased or the subject of any hire purchase
                                  or rental agreement, all material assets used by any Connect Ads Group Company for or in connection
                                  with the Connect Ads Business which, in the reasonable opinion of A15, are required for the Business
                                  as it is currently conducted are legally and beneficially owned by a Connect Ads Group Company (with
                                  good, valid and marketable title) and, are free from all Encumbrances,.

 

	10.2	All assets referred to in paragraph 10.1 are included in the Connect
                                  Ads Locked-Box Accounts, except for any fixed asset or asset acquired, sold, realised or applied in
                                  the ordinary course of business since the Connect Ads Locked-Box Date.

 

	10.3	Each asset referred to in paragraph 10.1 capable of possession is in the possession of a Connect
                                  Ads Group Company.

 

	10.4	All assets referred to in paragraph 10.1 are used exclusively in connection with the Connect Ads
                                  Business.

 

	10.5	No Connect Ads Group Company owns (legally or beneficially) or leases
                                  any assets in any jurisdiction other than the jurisdictions included within the Connect Ads Territory.

 

	10.6	No Connect Ads Group Company has agreed to acquire any asset on terms
                                  that ownership of such asset does not pass until full payment is made, where payment is currently outstanding.

 

	11.	Debts Owed by Connect Ads Group Companies

 

No Connect Ads Group Company is party
to any overdraft, loan or other financial facility or any other form of debts (except as provided under the financial statements of the
relevant Connect Ads Group Company).

 

	12.	Debts Owed to Connect Ads Group Companies

 

	12.1	No Connect Ads Group Company has lent any money which has not been
                                  repaid to it, and there are no debts owing to any Connect Ads Group Company other than debts that have
                                  arisen in the ordinary course of business.

 

	12.2	None of the debts owing to any Connect Ads Group Company as reflected
                                  in the Connect Ads Locked-Box Accounts or any debts subsequently recorded in the books of any Connect
                                  Ads Group Company have been outstanding (in whole or in part) for more than twelve (12) months from
                                  its due date for payment.

 

	12.3	No Connect Ads Group Company has:

 

		(a)	factored or discounted any of its debts; or

 

		(b)	engaged in financing of a type which would not need to be shown or
                                            fully reflected in the Connect Ads Locked-Box Accounts.

 

	13.	Grants and Allowances

 

No Connect Ads Group Company has applied
for or received any grant, subsidy or allowance from any Governmental Authority or person in the twelve (12) months immediately preceding
the Signature Date, and no such grant, subsidy or allowance is pending as of the Signature Date.

 

	14.	Powers of Attorney

 

Except for powers of attorney contained
in other agreements as an incidental provision, no Connect Ads Group Company has given any power of attorney or other express authority
which is still in force to any person to enter into any contract or commitment, or to act, on its behalf, other than to officers, directors
or employees to enter into contracts in the normal course of their duties.

 

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		15.	Arrangements
                                            with A15’s Group

 

		15.1	Save
                                            for the Connect Ads Permitted Dividend, no indebtedness and no contract or arrangement is
                                            outstanding between any Connect Ads Group Company and any member of the A15 Group, other
                                            than on arm’s length commercial terms in the ordinary course of business.

 

		15.2	Save
                                            for the Connect Ads Permitted Dividend, no member of the A15 Group is entitled to a claim
                                            of any nature against any Connect Ads Group Company nor has it assigned to any person the
                                            benefit of any such claim.

 

		16.	Litigation
                                            and Investigations

 

		16.1	No
                                            Connect Ads Group Company is, or has been in the three (3) years immediately preceding
                                            the Signature Date, engaged in any material litigation, arbitration, mediation or other legal
                                            proceedings (whether as plaintiff, defendant or otherwise). To the Knowledge of A15, no such
                                            litigation, arbitration, mediation or other legal proceedings are pending or have been threatened
                                            in writing by or against a Connect Ads Group Company and there are no circumstances likely
                                            to give rise to any such proceedings.

 

		16.2	To
                                            the Knowledge of A15, no Connect Ads Group Company is the subject of any investigation, enquiry
                                            or enforcement proceedings by any governmental or other body and there are no circumstances
                                            likely to give rise to any such proceedings.

 

		16.3	To
                                            the Knowledge of A15, no current or former director or employee of any Connect Ads Group
                                            Company (in his or her capacity as such) is engaged in or subject to any of the matters referred
                                            to in paragraphs 16.1 and 16.2 for which any Connect Ads Group Company may be liable.

 

		16.4	No
                                            Connect Ads Group Company is affected to a material extent by any existing or pending judgments
                                            or rulings, orders or decrees of any court or governmental authority or any expert determination
                                            or arbitral award to which it is subject.

 

		17.	Insurance

 

		17.1	Complete
                                            and accurate copies of all material insurance policies maintained by each Connect Ads Group
                                            Company are contained in the Connect Ads Data Room.

 

		17.2	All
                                            premiums due and payable in respect of each insurance policy referred to in paragraph 17.1
                                            have been paid and, to the Knowledge of A15, each policy is in full force and effect and
                                            to the Knowledge of A15 there are no circumstances that are reasonably likely to make any
                                            policy void.

 

		17.3	To
                                            the Knowledge of A15, no claims are outstanding under any insurance policy referred to in
                                            paragraph 17.1, and to the Knowledge of A15, no event has occurred which might give rise
                                            to any claim under such insurance policies in excess of US$100,000 (one hundred thousand
                                            US Dollars).

 

		17.4	During
                                            the three (3) years immediately preceding the Signature Date no individual claim has
                                            been made by any Connect Ads Group Company under any insurance policy referred to in paragraph
                                            17.1.

 

		18.	Insolvency

 

No Connect Ads Group Company is insolvent
or unable to pay its debts under the insolvency laws of the jurisdiction of its incorporation nor has it stopped paying debts as they
fall due. No moratorium has been obtained nor any Order been made, petition presented or resolution passed for the winding-up or bankruptcy
of any Connect Ads Group Company. No administrator, receiver, monitor, manager or equivalent officer has been appointed by any person
in respect of any Connect Ads Group Company or all or any material part of its assets and, to the Knowledge of A15, no steps have been
taken to initiate any such appointment and no voluntary arrangement has been proposed relating to a Connect Ads Group Company. No Connect
Ads Group Company has become subject to any analogous proceedings, appointments or arrangements under the laws of any applicable jurisdiction.

 

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		19.	Accounts

 

		19.1	Complete
                                            and accurate copies of the Connect Ads Locked-Box Accounts are contained in the Connect Ads
                                            Data Room.

 

		19.2	The
                                            Connect Ads Locked-Box Accounts have been prepared in accordance with IFRS.

 

		19.3	The
                                            Connect Ads Locked-Box Accounts give a true and fair view of the assets, liabilities, financial
                                            position and profit or loss of each Connect Ads Group Company and of the Connect Ads Group
                                            as a whole at the Connect Ads as at the Connect Ads Locked-Box Date respectively.

 

		19.4	No
                                            change has been made to the accounting policies or to any other accounting treatment of any
                                            Connect Ads Group Company for at least two (2) years immediately preceding the Connect
                                            Ads Locked-Box Date.

 

		19.5	Save
                                            as Disclosed in the Connect Ads Locked-Box Accounts, the Connect Ads Locked-Box Accounts
                                            were not affected in any material respect by any unusual or non-recurring item.

 

		19.6	The
                                            Connect Ads Management Accounts fairly present in all material respects the assets, liabilities
                                            and financial position of each Connect Ads Group Company as at the Connect Ads Management
                                            Accounts Date.

 

		19.7	The
                                            Connect Ads Management Accounts have been prepared on a basis consistent with the management
                                            accounts of each Connects Ad Group Company prepared in the two (2) years immediately
                                            preceding the Signature Date.

 

		19.8	All
                                            financial and other records of the Connect Ads Group Companies:

 

		(a)	have
                                            been properly prepared and maintained; and

 

		(b)	are
                                            in the possession of a Connect Ads Group Company.

 

		20.	Events
                                            Since the Connect Ads Locked-Box Date

 

		20.1	Since
                                            the Connect Ads Locked-Box Date:

 

		(a)	the
                                            business of each Connect Ads Group Company has been conducted in the ordinary course in all
                                            material respects and as a going concern;

 

		(b)	there
                                            has been no material adverse change in the financial or trading position of the Connect Ads
                                            Group;

 

		(c)	no
                                            dividend or other distribution has been declared, made or paid by any Connect Ads Group Company
                                            (save for any Connect Ads Permitted Dividend);

 

		(d)	no
                                            Connect Ads Group Company has issued or agreed to issue any share capital or loan capital
                                            or other similar interest;

 

		(e)	no
                                            asset of a value in excess of fifty thousand US Dollars (US$ 50,000) has been acquired or
                                            disposed of nor has there been any agreement to acquire, dispose of, any such asset; and

 

		(f)	no
                                            liability (actual or contingent) has been incurred or has arisen which is of an amount in
                                            excess of $2,000,000.

 

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		21.	Taxation

 

		21.1	All
                                            material liabilities of each Connect Ads Group Company for Taxes as at the Connect Ads Locked-Box
                                            Date are provided for in the Connect Ads Locked-Box Accounts and all Tax for which each Connect
                                            Ads Group Company is liable or is liable to account for has been duly paid (insofar as it
                                            ought to have been paid) and each Connect Ads Group Company has made all material withholdings,
                                            deductions and retentions that it was legally required to make and has accounted in full
                                            to the appropriate authority for all amounts so withheld, deducted and retained.

 

		21.2	Each
                                            Connect Ads Group Company has maintained, in all material respects, all records in relation
                                            to Tax.

 

		21.3	No
                                            Connect Ads Group Company has in the three (3) years immediately preceding the Signature
                                            Date been involved, or is involved in any dispute as at the Signature Date in relation to
                                            any Taxes with any Taxation Authority and to the Knowledge of A15 there are no circumstances
                                            existing which make it likely that such a dispute will arise.

 

		21.4	All
                                            material returns to be submitted, all material information required to be supplied and all
                                            material notices and payments required to be made by each Connect Ads Group Company in each
                                            case for the purposes of Taxation have been submitted, supplied or made in accordance with
                                            applicable Laws, in each case in all material respects.

 

		21.5	Neither
                                            A15 nor any Connect Ads Group Company has received written notice of any intention to re-open
                                            any closed assessments of any Connect Ads Group Company or the Connect Ads Business, as the
                                            case may be, for any Tax period in respect of which Tax Returns have been filed.

 

		21.6	No
                                            Connect Ads Group Company has, within three (3) years immediately preceding the Signature
                                            Date, paid or become liable to pay any tax deficiency, penalty, fine, surcharge or interest
                                            in connection with any Tax.

 

		21.7	The
                                            amount of Tax chargeable on each Group Company during any accounting period ending on or
                                            within the three (3) years immediately preceding the Signature Date has not depended
                                            on any concessions, agreements or other formal or informal arrangements with any Taxation
                                            Authority.

 

		21.8	To
                                            the Knowledge of A15, no Connect Ads Group Company has, within the three (3) years immediately
                                            preceding the Signature Date, been the subject of an investigation, audit or visit of a non-routine
                                            nature by or involving any Taxation Authority.

 

		21.9	To
                                            the Knowledge of A15, no Connect Ads Group Company has been involved in any scheme, arrangement,
                                            transaction or series of transactions in which the main purpose or one of the main purposes
                                            was the evasion or avoidance of Tax.

 

		21.10	Each
                                            Connect Ads Group Company is, to the extent that it is required to be registered, a registered
                                            person for the purposes of the relevant value added tax applicable in any relevant jurisdiction
                                            and has not within three (3) years immediately preceding the Signature Date been treated
                                            as a member of a group for such value added or turnover tax.

 

		21.11	Each
                                            Connect Ads Group Company has complied in all material respects with all statutory provisions,
                                            rules, regulations, orders and directions concerning the relevant value added or turnover
                                            tax in any relevant jurisdiction.

 

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		21.12	To
                                            the Knowledge of A15, all transactions or arrangements made by any Connect Ads Group Company
                                            with a related person (under applicable law as it relates to transfer pricing or its equivalent
                                            in any jurisdiction) have been made on arm’s-length terms.

 

		21.13	All
                                            documents in the possession of a Connect Ads Group Company or to the production of which
                                            a Connect Ads Group Company is entitled and which attract stamp duty and which are necessary
                                            for any Connect Ads Group Company in proving title or which a Connect Ads Group Company may
                                            wish to rely upon for the purposes of any litigation in which a Connect Ads Group Company
                                            is or is, to the Knowledge of A15, reasonably likely to be involved or in connection with
                                            any Tax matter have been properly stamped.

 

		21.14	To
                                            the Knowledge of A15, with respect to any period for which Tax Returns have not yet been
                                            filed, or for which Taxes are not yet due or owing, Connect Ads for itself and the other
                                            Connect Ads Group Companies have each made accruals for such material Taxes in its books
                                            and records in accordance with applicable Law.

 

		21.15	To
                                            the Knowledge of A15, no proceeding by any Governmental Authority is pending or threatened
                                            with respect to (a) any material Taxes due from or with respect to any Connect Ads Group
                                            Company or (b) any material Tax Return filed by or with respect to any Connect Ads Group
                                            Company or the Connect Ads Business.

 

		21.16	To
                                            the Knowledge of A15, each Connect Ads Group Company has withheld from its employees, independent
                                            contractors, creditors, stockholders and third parties material amounts in all respects as
                                            at the Connect Ads Locked-Box Date to the extent required and in compliance (in all material
                                            respects) with all Tax withholding and remitting provisions of applicable Law.

 

		21.17	No
                                            Connect Ads Group Company is treated for any taxation purpose as resident in a country other
                                            than the country of its incorporation, and to the Knowledge of A15 no Connect Ads Group Company
                                            has had at any time, a branch, agency or permanent establishment in a country other than
                                            the country of its incorporation.

 

		22.	Intellectual
                                            Property and Information Technology

                                            

                                            Registered Intellectual Property

 

		22.1	A
                                            list of the Connect Ads Registered Intellectual Property is set out in Schedule 1 of the
                                            A15 Disclosure Letter.

 

		22.2	All
                                            registration, renewal and other maintenance fees in respect of the Connect Ads Registered
                                            Intellectual Property have been paid in full.

 

		22.3	No
                                            Connect Ads Group Company has received any written notice that the Connect Ads Registered
                                            Intellectual Property is being opposed, or that any third party is seeking its invalidation
                                            or revocation.

 

		22.4	All
                                            Connect Ads Registered Intellectual Property is registered in the name of a Connect Ads Group
                                            Company.

 

Business Intellectual Property

 

		22.5	All
                                            Connect Ads Business Intellectual Property used in the operation of any Connect Ads Group
                                            Company is either owned by the Connect Ads Group Company or is used by the Connect Ads Group
                                            Company pursuant to a valid license.

 

		22.6	Each
                                            Connect Ads Group Company has taken reasonable actions to protect its Connect Ads Business
                                            Intellectual Property.

 

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		22.7	To
                                            the Knowledge of A15, the use by any Connect Ads Group Company of the Business Intellectual
                                            Property does not infringe the Intellectual Property of any third party in any material respect.

 

		22.8	No
                                            Connect Ads Group Company has, in the three (3) years immediately preceding the Signature
                                            Date, issued any notice of any legal proceedings, claims or complaints against a third party
                                            regarding the infringement of the Connect Ads Business Intellectual Property. To the Knowledge
                                            of A15, in the three (3) years immediately preceding the Signature Date, no third party
                                            has infringed the Connect Ads Business Intellectual Property.

 

		22.9	A
                                            list of all material licences granted to any Connect Ads Group Company relating to the Connect
                                            Ads Business Intellectual Property (other than licences or agreements relating to shrink-wrapped,
                                            click-wrapped or other software commercially available off the shelf) (the “Connect
                                            Ads Incoming Licences”) is set out in Schedule 2 of the A15 Disclosure Letter.

 

		22.10	A
                                            list of all material licences granted by any Connect Ads Group Company relating to the Connect
                                            Ads Business Intellectual Property owned by such Connect Ads Group Company (the “Connect
                                            Ads Outgoing Licences”) is set out in Schedule 3 of the A15 Disclosure Letter.

 

		22.11	No
                                            written notice alleging any breach or invalidity of any Connect Ads Incoming Licence or any
                                            Connect Ads Outgoing Licence has been sent or received by any Connect Ads Group Company in
                                            the three (3) years immediately preceding the Signature Date.

 

		22.12	No
                                            employee or former employee of a Connect Ads Group Company has any right to payment with
                                            respect to the use of, or any interest in any Connect Ads Business Intellectual Property.

 

		22.13	With
                                            the exception of Connect Ads Business Intellectual Property that is the subject of the Licences,
                                            (a) the Connect Ads Business Intellectual Property has been developed by employees of
                                            a Connect Ads Group Company acting in the course of their employment; or (b) all consultants,
                                            contractors, and/or employees who have developed or who have contributed to the development
                                            of any Connect Ads Business Intellectual Property have assigned to a Connect Ads Group Company
                                            pursuant to a valid, legally binding, written assignment, any right, title, and interest
                                            in such Connect Ads Business Intellectual Property which did not automatically vest in a
                                            Connect Ads Group Company by virtue of any relevant law.

 

IT Systems / IT Contracts

 

		22.14	A
                                            list of all material Connect Ads IT Systems is set out in Schedule 4 of the A15 Disclosure
                                            Letter.

 

		22.15	A
                                            list of all material Connect Ads IT Contracts is set out in Schedule 5 of the A15 Disclosure
                                            Letter.

 

		22.16	A
                                            Connect Ads Group Company owns or has rights to use all material Connect Ads IT Systems.

 

		22.17	The
                                            Connect Ads IT Systems comprises all rights to computer hardware (including network and telecommunications
                                            equipment) and software (including associated preparatory manuals and other related documentation)
                                            and related services, which, in the reasonable opinion of A15, are necessary to operate the
                                            business of the Connect Ads Group Companies in the same manner and for the same purposes
                                            as the business of the Connect Ads Group was operated in the 12 month period immediately
                                            prior to Completion.

 

		22.18	To
                                            the Knowledge of A15, (a) all the material Connect Ads IT Contracts are valid and binding
                                            and (b) no written notice alleging any breach or invalidity of any Connect Ads IT Contract
                                            has been sent or received by any Connect Ads Group Company in the twelve (12) months immediately
                                            preceding the Signature Date.

 

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Computer Operation and Maintenance

 

		22.19	To
                                            the Knowledge of A15, no material part of the Connect Ads IT Systems has materially failed
                                            to function at any time during the two (2) years immediately preceding the Signature
                                            Date.

 

		22.20	To
                                            the Knowledge of A15, in the last twelve (12) months no part of the Connect Ads IT Systems
                                            has been infected by any virus or other extraneously induced malfunction which has had a
                                            material impact on the Connect Ads Business, and no person has had unauthorized access to
                                            the IT Systems or any data stored thereon. Each Group Company operates a procedure aimed
                                            at avoiding such infections and unauthorized access.

 

		22.21	The
                                            Connect Ads Group has taken steps which are aimed at ensuring that the Connect Ads Business
                                            can continue in the event of a failure of the Connect Ads IT Systems (whether due to natural
                                            disaster, power failure or otherwise).

 

		23.	Real
                                            Estate

 

		23.1	The
                                            Connect Ads Properties comprise all the material land and buildings controlled, occupied
                                            or used by any Connect Ads Group Company or in which any Connect Ads Group Company has any
                                            right, interest or liability.

 

		23.2	The
                                            information in respect of the Connect Ads Properties contained in the Connect Ads Data Room
                                            is accurate in all material respects.

 

		23.3	No
                                            Connect Ads Group Company owns any land or premises.

 

		23.4	Each
                                            lease of the Connect Ads Properties is: (a) in full force and effect; (b) no written
                                            notice alleging any breach or invalidity of any such lease has been sent or received by any
                                            Connect Ads Group Company in the twelve (12) months immediately preceding the Signature Date;
                                            and (c) no written notice of termination of any such lease has been served or received
                                            by any Connect Ads Group Company in the twelve (12) months immediately preceding the Signature
                                            Date.

 

		23.5	A
                                            Connect Ads Group Company is in exclusive possession of the whole of each of the Connect
                                            Ads Properties, and no other person is in or entitled to occupation of any of the Connect
                                            Ads Properties.

 

		23.6	There
                                            is no outstanding liability, including without limitation, for any rent, rates or taxes in
                                            respect of any of the Connect Ads Properties. No rent reviews and/or rent adjustments under
                                            any leases of the Connect Ads Properties are currently outstanding or in process.

 

		23.7	To
                                            the Knowledge of A15, no Connect Ads Group Company is actually or contingently liable in
                                            any material respect in relation to any freehold or leasehold property (whether as owner
                                            or former owner or as tenant or former tenant of any such property or as an original contracting
                                            party, or guarantor of any party, to any deed, document, lease or licence connected therewith)
                                            other than the Connect Ads Properties.

 

		24.	Environmental
                                            Matters

 

		24.1	Each
                                            Connect Ads Group Company is conducting, and has during the past three (3) years conducted,
                                            the Connect Ads Business in compliance with Environmental Law in all material respects.

 

		24.2	No
                                            Environmental Proceedings are pending, nor have any been threatened in writing, against any
                                            Connect Ads Group Company.

 

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		25.	Employment;
                                            Labor Matters

 

		25.1	Details
                                            of all remuneration and other benefits which each Connect Ads Group Company is bound to provide
                                            to each Connect Ads Key Manager are contained in the Connect Ads Data Room.

 

		25.2	Copies
                                            of all the standard terms and conditions, staff handbooks and policies and the Connect Ads
                                            Benefit Plans which apply to Connect Ads Key Managers and Connect Ads Key Workers are contained
                                            in the Connect Ads Data Room.

 

		25.3	The
                                            terms of employment or engagement of all Connect Ads Key Managers are such that their employment
                                            or engagement may be terminated by not more than three (3) months’ notice given
                                            at any time without liability for any payment, including by way of compensation or damages
                                            (except for any compensation under any applicable statutory regime in the relevant jurisdiction).

 

		25.4	Since
                                            the Connect Ads Locked-Box Date, no Connect Ads Group Company has made any announcement or
                                            proposal concerning any salaries of Connect Ads Key Managers, with or without retroactive
                                            action that would have a material impact on the salaries or other benefits of Connect Ads
                                            Key Managers.

 

		25.5	Since
                                            the Connect Ads Locked-Box Date, no Connect Ads Group Company has made a written offer of
                                            employment with an aggregate remuneration package of more than US$100,000 per annum (including
                                            all benefits and allowances).

 

		25.6	No
                                            Connect Ads Key Manager has given or received written notice to terminate his employment
                                            or engagement with a Connect Ads Group Company and, to the Knowledge of A15, there are no
                                            circumstances likely to give rise to such notice.

 

		25.7	No
                                            Connect Ads Group Company is currently engaged or involved in any material dispute with any
                                            Connect Ads Worker or any labour dispute involving any Connect Ads Group Company which is
                                            material.

 

		25.8	To
                                            the extent relevant, materially complete and accurate details of each trade union, works
                                            council, whether national or cross-border, special negotiating body, staff association or
                                            other body recognized by any Connect Ads Group Company for the purposes of representing any
                                            Connect Ads Workers are contained in the Connect Ads Data Room.

 

		25.9	Complete
                                            and accurate copies of all collective agreements and of any applicable information or consultation
                                            arrangement (whether legally binding or not) concerning any Connect Ads Worker and any Connect
                                            Ads Group Company are contained in the Connect Ads Data Room.

 

		25.10	All
                                            salaries, wages and fees and other benefits of all Connect Ads Workers have, to the extent
                                            due, been paid or discharged in full together with all related payments to third party benefit
                                            providers or relevant authorities.

 

		25.11	To
                                            the extent required by applicable Laws, each Connect Ads Group Company has maintained records
                                            regarding the service of each Connect Ads Worker (including details of the terms of employment,
                                            payments of statutory sick pay and maternity pay, disciplinary and grievance matters, health
                                            and safety matters, income tax and social security contributions, wage and time records)
                                            which are current, in each case in all material respects.

 

		25.12	To
                                            the extent required by applicable Laws, each employee is lawfully employed by Connect Ads
                                            or the applicable Subsidiary Undertaking.

 

		25.13	All
                                            Connect Ads Group Companies are in compliance in all material respects with all the laws,
                                            decrees, and regulations that govern the employees’ matters, such as the labor laws,
                                            social insurance laws and health and safety laws.

 

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		26.	Company
                                            Plans

 

For the purposes of this paragraph
26, the following expressions shall have the following meanings:

 

“Connect Ads Disclosed Plans”
means the Connect Ads Benefit Plans;

 

“Connect Ads Worker”
means a current or former worker of the Connect Ads Group; and

 

“Defined Contribution Plan”
means a plan that provides for an individual account for each participant and for Pension Benefits based solely on the amount contributed
to the participant’s account and any income, expenses, gains and losses and any forfeitures of accounts of other participants which
may be allocated to such participant’s account.

 

		26.1	A
                                            complete and accurate list of all Connect Ads Disclosed Plans is set out in Schedule 6 to
                                            the A15 Disclosure Letter.

 

		26.2	Other
                                            than the Connect Ads Disclosed Plans, there are no agreements, arrangements, obligations
                                            or commitments (whether funded or unfunded) under which any Connect Ads Group Company is
                                            required to make payment of a contribution towards, or other provision for, Pension Benefits
                                            for the benefit of a Connect Ads Worker or a Connect Ads Worker’s dependents.

 

		26.3	The
                                            Connect Ads Data Room contains complete and accurate copies of the following documents in
                                            relation to each Connect Ads Plan:

 

		(a)	the
                                            material governing documents;

 

		(b)	all
                                            policies of insurance currently in force;

 

		(c)	members’
                                            booklets currently in force and announcements to the relevant members made on the date the
                                            respective booklets were published;

 

		(d)	membership
                                            data and reasonable details of the rates and amounts of contributions payable by any Connect
                                            Ads Group Company to the Connect Ads Disclosed Plans; and

 

		(e)	in
                                            relation to any Connect Ads Disclosed Plan which is not a Defined Contribution Plan, the
                                            reports of the most recently performed actuarial valuation of the Connect Ads Disclosed Plan.

 

		26.4	To
                                            the Knowledge of A15, the Connect Ads Disclosed Plans have been operated in all material
                                            respects in accordance with their governing documents and all applicable laws and regulatory
                                            requirements, including any applicable laws or regulatory requirements relating to the funding
                                            of Pension Benefits.

 

		26.5	To
                                            the Knowledge of A15, there are no material outstanding contributions, costs (including levies)
                                            or expenses payable by any Connect Ads Group Company in respect of the Connect Ads Disclosed
                                            Plans.

 

		26.6	To
                                            the Knowledge of A15, no claim has been made or threatened in writing in the twelve

 

(12) months immediately preceding the
Signature Date against any Connect Ads Group Company or the trustees or administrators of any of the Connect Ads Disclosed Plans, or
against any person whom any Connect Ads Group Company is or may be liable to indemnify or compensate, in connection with any of the Connect
Ads Disclosed Plans (other than routine claims for benefits).

 

		27.	Exchange
                                            Matters

 

To the Knowledge of A15, each Connect
Ads Group Company has duly complied in all material respects with foreign exchange Laws, including compliance with all obligations arising
from currency imports and exports, external debt (assets and liabilities), international investment and clearing accounts.

 

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Schedule 10

 

Connect Ads
Warranties

 

		1.	Incorporation,
                                            Capacity and Authority

 

		1.1	Connect
                                            Ads has been duly incorporated, and is validly existing under the laws of the DMCC.

 

		1.2	Connect
                                            Ads has full power, authority and capacity to enter into, deliver and perform this Agreement
                                            and each other Transaction Document to which it is a party.

 

		1.3	The
                                            execution, delivery and performance by Connect Ads of this Agreement and the other Transaction
                                            Documents to which it is a party will not constitute a breach of (a) any Laws applicable
                                            to Connect Ads; (b) the provisions of its articles of association, by-laws or equivalent
                                            constitutional documents; or (c) any Orders against, or binding upon, Connect Ads or
                                            (d) any other material agreements or instruments to which Connect Ads is party of or
                                            by which Connect Ads is bound.

 

		1.4	Except
                                            for the Pre-Completion Conditions and the processes referred to in Clause 6 (Pre-Completion
                                            Arrangements), so far as Connect Ads is aware, the execution, delivery and performance
                                            by Connect Ads of its obligations under this Agreement and the other Transaction Documents
                                            to which it is a party will not require it to obtain any consent or approval of, or give
                                            any notice to or make any registration or filing with, any Governmental Authority which has
                                            not been obtained or made at the Signature Date on a basis both unconditional and which cannot
                                            be revoked.

 

		1.5	This
                                            Agreement and each of the other Transaction Documents to which it is a party have been duly
                                            executed and delivered by Connect Ads, and this Agreement and each of the other Transaction
                                            Documents to which it is a party constitute the legal, valid and binding obligations of Connect
                                            Ads, enforceable against it in accordance with their terms, except as may be limited by bankruptcy
                                            or insolvency Laws or other similar Laws affecting creditors' rights in general.

 

		1.6	Connect
                                            Ads is not insolvent or unable to pay its debts under the insolvency laws of the jurisdiction
                                            of its incorporation nor has it stopped paying debts as they fall due. No moratorium has
                                            been obtained nor any Order been made, petition presented or resolution passed for the winding-up
                                            or bankruptcy of Connect Ads. No administrator, receiver, monitor, manager or equivalent
                                            officer has been appointed by any person in respect of Connect Ads or all or any material
                                            part of its assets and, so far as Connect Ads is aware, no steps have been taken to initiate
                                            any such appointment and no voluntary arrangement has been proposed relating to Connect Ads.
                                            Connect Ads has not become subject to any analogous proceedings, appointments or arrangements
                                            under the laws of any applicable jurisdiction.

 

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Schedule 11

 

A15 Limitations
of Liability

 

		1.	Knowledge

 

		1.1	A15
                                            shall not be liable in respect of an A15 Warranty Claim for breach of the A15 Warranties
                                            to the extent that the facts giving rise to such A15 Warranty Claim were:

 

		(a)	Disclosed;
                                            or

 

		(b)	otherwise
                                            known at the Signature Date by any member of the IMS Group or Httpool Group.

 

		1.2	Httpool,
                                            Aleph Cayman or IMS (as applicable) shall give notice to A15 of the facts and matters that
                                            may give rise to a Claim as soon as reasonably practicable after it becomes aware of such
                                            facts and matters that may give rise to a Claim, and in any event within twenty (20) Business
                                            Days after it becomes aware. Failure to give such notice shall not of itself prevent Httpool,
                                            Aleph Cayman or IMS (as applicable) from bringing the relevant Claim, but A15 shall not be
                                            liable to Httpool, Aleph Cayman or IMS (as applicable) in respect of such Claim to the extent
                                            that the amount of it is increased or, as applicable, not reduced as a result of such failure.

 

		1.3	If
                                            the matter giving rise to a Claim (apart from in relation to a Connect Ads Tax Claim) is
                                            capable of remedy, Httpool, Aleph Cayman or IMS (as applicable) shall only be entitled to
                                            damages if the matter is not remedied within forty-five (45) days after the date on which
                                            the notice referred to in paragraph 1.2 of this Schedule 11 (A15 Limitations of Liability)
                                            is served on A15 at no cost, liability or loss to Httpool, Aleph Cayman or IMS (as applicable).

 

		2.	Limitations
                                            on Quantum

 

		2.1	The
                                            liability of A15 in respect of any Claim:

 

		(a)	shall
                                            not arise unless and until the amount of such Claim (together with all Claims arising out
                                            of the same set of circumstances), when substantiated, exceeds fifty thousand US Dollars
                                            (US$50,000), in which case Httpool, Aleph Cayman or IMS (as applicable) shall be entitled
                                            to claim the whole of such amount from the first US Dollar and not merely the excess; and

 

		(b)	shall
                                            not arise unless and until the amount of all Claims for which it would, in the absence of
                                            this provision be liable, when substantiated, exceeds five hundred thousand US Dollars (US$500,000),
                                            in which case Httpool, Aleph Cayman or IMS (as applicable) shall be entitled to claim the
                                            whole of such amount from the first US Dollar and not merely the excess.

 

		2.2	The
                                            aggregate liability of A15 in respect of:

 

		(a)	all
                                            Claims under the A15 Warranties (other than the A15 Fundamental Warranties), and including
                                            all legal and other professional fees and expenses payable by A15 in respect of all such
                                            Claims, shall not exceed an amount equal to thirty per cent. (30%) of the Consideration;
                                            and

 

		(b)	all
                                            Claims (including claims under the A15 Fundamental Warranties), and including all legal and
                                            other professional fees and expenses payable by A15 in respect of all such Claims, shall
                                            not exceed an amount equal to the Consideration.

 

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		2.3	In
                                            respect of any breach of this Agreement, A15 shall not be liable for any punitive, special,
                                            indirect or consequential loss or loss of profit or loss of goodwill or possible business,
                                            whether actual or prospective.

 

		3.	Time
                                            Limits

 

		3.1	A15
                                            shall not be liable in respect of any Claim unless written notice containing reasonable details
                                            (insofar as is known to IMS, Aleph Cayman and Httpool) of such Claim (including as far as
                                            is reasonably practicable Httpool’s, Aleph Cayman’s or IMS’s (as applicable)
                                            bona fide estimate of the amount of such Claim) is given by or on behalf of Httpool, Aleph
                                            Cayman or IMS (as applicable) to A15:

 

		(a)	in
                                            the case of a Claim (other than a Claim under the A15 Fundamental Warranties, the A15 Tax
                                            Warranties or the Connect Ads Tax Covenant), by no later than the date falling twenty-four
                                            (24) months after the Completion Date; and

 

		(b)	in
                                            the case of a Claim under the A15 Fundamental Warranties, the A15 Tax Warranties, or the
                                            Connect Ads Tax Covenant, by no later than the date falling six (6) years after the
                                            Completion Date,

 

provided
that any such Claim shall (if not previously satisfied, settled or withdrawn) be deemed to have been withdrawn and waived in full by
IMS, Aleph Cayman and Httpool unless proceedings in respect of it have been properly issued and validly served within nine (9) months
of such written notice being given to A15, or, in the case of a contingent liability, within nine (9) months of such contingent
liability becoming an actual liability.

 

		4.	Contingent
                                            Liability

 

A15 shall
not be liable for any Claim based upon a liability which is contingent unless and until such contingent liability becomes an actual liability
and is due and payable. For the avoidance of doubt, the fact that the liability may not have become an actual liability by the relevant
date provided in paragraph 3 of this Schedule 11 (A15 Limitations of Liability) shall not exonerate A15 in respect of any Claim
properly notified before that date, provided, however, that A15 shall not be liable for a Claim based upon a liability
which is contingent only, unless such contingent liability gives rise to an obligation to make a payment within twenty-four (24)
months of the expiry of the applicable limitation period set out in paragraph 3 of this Schedule 11 (A15 Limitations of Liability).

 

		5.	Retrospective
                                            Legislation

 

A15 shall
not be liable for any Claim (apart from in relation to a Connect Ads Tax Claim) to the extent that the liability arises or is increased
as a result of any legislation not in force at the Signature Date.

 

		6.	Voluntary
                                            Acts or Omissions

 

A15 shall
not be liable for any Claim (apart from in relation to a Connect Ads Tax Claim) to the extent that it arises or is increased directly
as a result of any voluntary act or omission of any member of the Httpool Group, Aleph Group or IMS Group (as applicable): (a) prior
to the Completion Date with the prior written consent of, or at the written instruction of, Httpool, Aleph Cayman or IMS, or any member
of the Httpool Group, Aleph Group or IMS Group; or (b) after the Completion Date except pursuant to a legally binding obligation
of Connect Ads or a member of the Connect Ads Group entered into prior to Completion or in the ordinary course of business.

 

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		7.	Duty
                                            to Mitigate

 

Httpool,
Aleph Cayman or IMS (as applicable) shall procure that all reasonable steps are taken to avoid or mitigate any loss or damage which it
may suffer as a result of a breach by A15 of this Agreement or as a result of any fact, matter, event or circumstance likely to give
rise to a Claim (apart from in relation to a Connect Ads Tax Claim).

 

		8.	Loss
                                            Otherwise Compensated

 

		8.1	A15
                                            shall not be liable for any Claim (apart from in relation to a Connect Ads Tax Claim) to
                                            the extent that:

 

		(a)	the
                                            matter giving rise to such Claim has been made good or is otherwise compensated for without
                                            loss to Httpool, Aleph Cayman or IMS (as applicable); or

 

		(b)	the
                                            Claim is actually recovered under any insurance policy.

 

		8.2	In
                                            assessing a Claim (apart from in relation to a Connect Ads Tax Claim), corresponding savings
                                            by, or net benefits to Httpool, Aleph Cayman or IMS (as applicable) in each case in respect
                                            of the matter giving rise to the Claim shall be taken into account (apart from in relation
                                            to a Connect Ads Tax Claim).

 

		9.	Recovery
                                            from Third Parties

 

Where
A15 has made a payment to Httpool, Aleph Cayman or IMS (as applicable) in relation to any Claim (apart from in relation to a Connect
Ads Tax Claim) and Httpool, Aleph Cayman or IMS (as applicable) or any member of Httpool Group or IMS’s Group recovers (whether
by insurance, payment, discount, credit, relief or otherwise) from a third party a sum which is referable to the matter giving rise to
the Claim or obtains any relief, saving or benefit which is so referable, Httpool, Aleph Cayman or IMS (as applicable) or the relevant
member of their respective Groups shall pay to A15 as soon as practicable after receipt:

 

		(a)	an
                                            amount equal to the amount actually recovered from the third party (net of taxation and less
                                            any reasonable costs of recovery) or the value of the relief, saving or benefit obtained,
                                            calculated by reference to the amount saved (less any reasonable costs of recovery); or

 

		(b)	if
                                            the amount referred to in sub-paragraph (a) above exceeds the amount paid by A15 to
                                            Httpool, Aleph Cayman or IMS (as applicable) or a member of Httpool Group or IMS’s
                                            Group in respect of the relevant Claim, such lesser amount as shall have been so paid by
                                            A15.

 

		10.	Conduct
                                            of Claims

 

If any
member of the IMS Group becomes aware of any matter which may result in a claim being brought against it by another person (a “Third
Party Claim”) which may lead to a Claim (apart from in relation to a Connect Ads Tax Claim), Aleph Cayman shall and shall procure
that each member of the IMS Group shall:

 

		(a)	make
                                            no admission of liability or settle or compromise the Third Party Claim without the prior
                                            consent in writing of A15, such consent not to be unreasonably withheld or delayed, provided
                                            that it will take all reasonable action to mitigate any loss that may arise in respect of
                                            any resulting Claim;

 

		(b)	for
                                            the duration of the Third Party Claim, provide A15 and its Agents with all information relevant
                                            to the Third Party Claim (including the right to examine at A15’s cost and expense
                                            all relevant documents and records), and shall preserve all such information;

 

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		(c)	consult
                                            with, give such information and assistance to and subject to being indemnified in relation
                                            to the same, take such action (including the appointment of professional advisers) as A15
                                            may reasonably request in order to avoid, defend, dispute, mitigate, appeal, settle or compromise
                                            the Third Party Claim provided that nothing in this paragraph 10 shall require any member
                                            of the IMS Group to take any action that would in the reasonable opinion of Aleph Cayman
                                            be materially detrimental to the goodwill or commercial interests of the IMS Group so long
                                            as A15 shall not be liable to Httpool, Aleph Cayman or IMS (as applicable) in respect of
                                            such Claim to the extent that the amount of such Claim is increased or, as applicable, not
                                            reduced as a result of the failure of any member of the IMS Group to comply with any such
                                            reasonable request of A15.

 

		11.	No
                                            Double Recovery

 

		12.	Any
                                            of Httpool, Aleph Cayman or IMS (as applicable) shall be entitled to make more than one Claim
                                            arising out of the same subject matter, fact event or circumstances but that company shall
                                            not be entitled to recover damages or obtain payment, reimbursement, restitution or indemnity
                                            more than once in respect of any one liability, loss, cost, shortfall, damage or deficiency
                                            suffered by it, regardless of whether more than one Claim arises in respect of it for the
                                            benefit of that company, and for this purpose recovery by one of IMS or Httpool against A15
                                            shall be deemed to be recovery by each of them.

 

		13.	Exclusion
                                            of Limitations

 

Nothing
in this Schedule 11 (A15 Limitations of Liability) applies to a Claim that arises or is delayed as a result of fraud, wilful misconduct
or dishonesty by A15, any other member of the A15 Group, or any of their respective officers or employees.

 

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Schedule 12

 

IMS Warranties

 

		1.	Incorporation,
                                            Capacity and Authority

 

		1.1	IMS
                                            has been duly incorporated, and is validly existing, under the laws of the State of Florida,
                                            United States.

 

		1.2	IMS
                                            has full power, authority and capacity to enter into, deliver and perform this Agreement
                                            and each other Transaction Document to which it is a party.

 

		1.3	The
                                            execution, delivery and performance by IMS of this Agreement and the other Transaction Documents
                                            to which it is a party will not constitute a breach of (a) any Laws applicable to IMS;
                                            (b) the provisions of its articles of association, by-laws or equivalent constitutional
                                            documents; or (c) any Orders against, or binding upon, IMS or (d) any other
                                            material agreements or instruments to which IMS is party or by which IMS is bound.

 

		1.4	Except
                                            for the Pre-Completion Conditions and the processes referred to in Clause 6 (Pre-Completion
                                            Arrangements), to the Knowledge of IMS, the execution, delivery and performance by IMS
                                            of its obligations under this Agreement and the other Transaction Documents to which it is
                                            a party will not require it to obtain any consent or approval of, or give any notice to or
                                            make any registration or filing with, any Governmental Authority which has not been obtained
                                            or made at the Signature Date on a basis both unconditional and which cannot be revoked.

 

		1.5	This
                                            Agreement and each of the other Transaction Documents to which it is a party have been duly
                                            executed and delivered by IMS, and this Agreement and each of the other Transaction Documents
                                            to which it is a party constitute the legal, valid and binding obligations of IMS, enforceable
                                            against it in accordance with their terms, except as may be limited by bankruptcy or insolvency
                                            Laws or other similar Laws affecting creditors’ rights in general.

 

		1.6	IMS
                                            is not insolvent or unable to pay its debts under the insolvency laws of the jurisdiction
                                            of its incorporation nor has it stopped paying debts as they fall due. No moratorium has
                                            been obtained nor any Order been made, petition presented or resolution passed for the winding-up
                                            or bankruptcy of IMS. No administrator, receiver, monitor, manager or equivalent officer
                                            has been appointed by any person in respect of IMS or all or any material part of its assets
                                            and, to the Knowledge of IMS, no steps have been taken to initiate any such appointment and
                                            no voluntary arrangement has been proposed relating to IMS. IMS has not become subject to
                                            any analogous proceedings, appointments or arrangements under the laws of any applicable
                                            jurisdiction.

 

		1.7	IMS
                                            is not a Government Official, and no Government Official has any legal, financial or beneficial
                                            interest in IMS or in any Transaction Document, and none of the owners or directors of IMS
                                            is a Government Official.

 

		2.	The
                                            IMS Group

 

		2.1	The
                                            particulars of each IMS Group Company set out in Part 2 of Schedule 2 (The IMS Group)
                                            are true and accurate.

 

		2.2	The
                                            entity identified in Part 2 of Schedule 2 (The IMS Group) as the holder of the
                                            shares in an IMS Subsidiary Undertaking is the legal and beneficial owner of such shares,
                                            which constitute the entire allotted and issued share capital of such IMS Subsidiary Undertaking.

 

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		2.3	The
                                            shares in each IMS Group Company are free from all Encumbrances, and there is no agreement
                                            or commitment to give or create any Encumbrance over or affecting the shares of any IMS Subsidiary
                                            Undertaking.

 

		2.4	The
                                            shares in each IMS Subsidiary Undertaking have been duly authorized and validly issued and
                                            are fully paid-up in accordance with applicable Law.

 

		2.5	There
                                            are no agreements or commitments outstanding which call for the issue of any shares or debentures
                                            in or other securities of any IMS Subsidiary Undertaking or accord to any person the right
                                            to call for the issue of any such shares, debentures or other securities.

 

		2.6	No
                                            IMS Group Company has any interest in the share capital, loan capital or other securities
                                            or otherwise controls or takes part in the management of any other company which is not an
                                            IMS Group Company.

 

		2.7	No
                                            IMS Group Company has at any time had any subsidiary or subsidiary undertaking except for
                                            the IMS Group Companies.

 

		2.8	No
                                            IMS Group Company acts or carries on business together with any other person in any partnership
                                            or other unincorporated association, joint venture or consortium.

 

		2.9	No
                                            IMS Group Company has any branch or agency in any jurisdiction other than in the jurisdiction
                                            of its incorporation.

 

		3.	Constitutional
                                            and Corporate Matters

 

		3.1	IMS
                                            has been duly incorporated or organized, and is validly existing, under the laws of Florida,
                                            and each other IMS Group Company has been duly incorporated or organized, and is validly
                                            existing, under the laws of its jurisdiction of incorporation.

 

		3.2	Each
                                            IMS Group Company has full power to carry on its business as it is carried on at the Signature
                                            Date.

 

		3.3	The
                                            copies of each IMS Group Company’s Organizational Documents contained in the IMS Data
                                            Room are up-to-date, accurate and complete, reflect all amendments made until immediately
                                            preceding the Signature Date and are maintained in accordance with applicable Laws, in each
                                            case, in all material respects.

 

		3.4	The
                                            copies of the minute books of shareholder meetings and other records of the IMS Group Company
                                            were properly maintained in all material respects.

 

		3.5	All
                                            filings and returns that each IMS Group Company is required to file in accordance with applicable
                                            Laws have been correctly made and duly filed or delivered, in each case, in all material
                                            respects.

 

		3.6	All
                                            dividends or distributions declared, made or paid by any IMS Group Company have been declared,
                                            made or paid in accordance with the applicable Organizational Documents and all applicable
                                            Laws, in each case, in all material respects.

 

		4.	Contracts

 

		4.1	Save
                                            for any partner agreements entered into by the IMS Group, no IMS Group Company is a party
                                            to any contract which:

 

		(a)	involves
                                            revenue or expenditure in excess of fifty thousand US Dollars (US$50,000) per annum; or

 

		(b)	is,
                                            in the reasonable opinion of IMS, of an unusual or exceptional nature or is not in the ordinary
                                            course of business; or

 

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		(c)	in
                                            the reasonable opinion of IMS, cannot readily be performed by it on time except with undue
                                            effort or unusual expenditure; or

 

		(d)	restricts
                                            to a material extent the ability of any IMS Group Company to carry on any part of its business
                                            in the jurisdictions in which it operates; or

 

		(e)	is
                                            an agency, distribution, franchise, licensing, joint venture or shareholders’ agreement,

 

(each
such contract a “IMS Material Contract”, which term, for the avoidance of doubt, excludes insertion orders).

 

		4.2	A
                                            complete and accurate copy of each IMS Material Contract (which, for the avoidance of doubt,
                                            does not include any insertion orders), is contained in the IMS Data Room.

 

		4.3	A
                                            complete and accurate copy of each partner agreement, as amended, with revenue in excess
                                            of fifty thousand US Dollars (US$50,000) entered into by an IMS Group Company is contained
                                            in the IMS Data Room (each such agreement an “IMS Partner Agreement”).

 

		4.4	Each
                                            of the IMS Material Contracts and the IMS Partner Agreements: (a) is in full force and
                                            effect; (b) no written notice alleging any breach or invalidity of any IMS Material
                                            Contract or IMS Partner Agreement has been sent or received by any IMS Group Company in the
                                            twelve (12) months immediately preceding the Signature Date; and (c) no written notice
                                            of termination of any IMS Material Contract or IMS Partner Agreement has been served or received
                                            by any IMS Group Company in the twelve (12) months immediately preceding the Signature Date
                                            and, to the Knowledge of IMS, there are no grounds for termination, rescission or repudiation
                                            of the IMS Material Contracts or IMS Partner Agreements.

 

		4.5	To
                                            the Knowledge of IMS, no IMS Group Company is in default of any IMS Material Contract or
                                            IMS Partner Agreement where such default would be material having regard to the trading,
                                            profits or financial position of the IMS Group.

 

		4.6	No
                                            guarantee, indemnity, mortgage, charge, pledge, lien or other security agreement has been
                                            given or entered into by an IMS Group Company in respect of any obligations of another person
                                            (other than another member of the IMS Group), including any member of the Aleph Group.

 

		4.7	No
                                            guarantee, indemnity, mortgage, charge, pledge, lien or other security agreement or arrangement
                                            has been given or entered into by any person other than an IMS Group Company, including any
                                            member of the Aleph Group, in respect of any obligations of an IMS Group Company.

 

		4.8	No
                                            IMS Group Company is a party to an IMS Material Contract which is not of an arm’s length
                                            nature to any material extent.

 

		4.9	There
                                            are no brokerage commissions, finder’s fees or similar fees or commissions payable
                                            by any IMS Group Company in connection with the Transactions (excluding for the avoidance
                                            of doubt legal and other professional advisory fees).

 

		5.	Trading

 

		5.1	No
                                            customer or supplier of any IMS Group Company which accounted for ten per cent. (10%) or
                                            more by value of the IMS Group’s annual supply or sales, as the case may be, in the
                                            financial year ended 31 December 2020 has during the six (6) months immediately
                                            preceding the Signature Date ceased or substantially reduced its trading with or supplies
                                            to the IMS Group. No such customer or supplier has given written notice of its intention
                                            to terminate or substantially reduce its business with any IMS Group Company to such IMS
                                            Group Company.

 

		5.2	No
                                            IMS Group Company carries on business under any name other than its own corporate name.

 

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		6.	Compliance
                                            with Laws

 

		6.1	Each
                                            IMS Group Company has, in the three (3) years immediately preceding the Signature Date,
                                            carried out its business in all material respects in compliance with all applicable laws
                                            and regulations in any relevant jurisdictions.

 

		6.2	Each
                                            IMS Group Company uses all personal data it holds, process or uses, including without limitation
                                            the customer information it receives through its website, or otherwise, in compliance in
                                            all material respects with applicable Law.

 

		6.3	Each
                                            IMS Group Company has security measures in place that are generally consistent with industry
                                            practices for similarly situated companies to protect the customer information it receives
                                            through its website, or otherwise, and which it stores in its computer systems to maintain
                                            the confidentiality and integrity of such customer information and to protect it from illegal
                                            use by third parties.

 

		6.4	No
                                            IMS Group Company has, in the last three (3) years, received any:

 

		(a)	written
                                            notice, request, correspondence or other written communication from any governmental or state
                                            agency, body, department, board, official or entity exercising regulatory or supervisory
                                            authority pursuant to any applicable data protection Laws, or been subject to any enforcement
                                            action (including any fines or other sanctions), in each case relating to a breach or alleged
                                            breach of their obligations under the applicable data protection Laws; or

 

		(b)	written
                                            claim, complaint, correspondence or other written communication from a data subject or any
                                            other person claiming a right to compensation under the applicable data protection Laws,
                                            or alleging any material breach of the applicable data protection Laws.

 

		7.	Anti-Bribery
                                            Laws

 

		7.1	No
                                            equity interests in any IMS Group Company were acquired using proceeds that were obtained
                                            in violation of any Anti-Bribery Law applicable to the IMS Group, and IMS has no Knowledge
                                            of any claim, charge or allegation by or on behalf of any Governmental Authority that any
                                            equity interests in any IMS Group Company were acquired using proceeds that were, directly
                                            or indirectly, obtained from any action or activity in violation of any Anti-Bribery Law
                                            applicable to the IMS Group.

 

		7.2	No
                                            IMS Group Company has taken any action that caused any such IMS Group Company to violate
                                            any Anti-Bribery Law applicable to them.

 

		7.3	No
                                            IMS Group Company, nor, to the Knowledge of IMS, any of their respective directors, officers,
                                            employees, agents or representatives, has, in connection with the Business, made or agreed
                                            to make any act corruptly in furtherance of an offer, payment, promise to pay, or authorization
                                            of the payment of any money, or offer, gift, promise to give, or authorization of the giving
                                            of anything of value to or releasing any liability of any Governmental Authority or Government
                                            Official for the purposes of unlawfully:

 

		(a)	influencing
                                            any act or decision of such Governmental Authority or Government Official in its or her official
                                            capacity;

 

		(b)	inducing
                                            such Governmental Authority or Government Official to do or omit to do an act in violation
                                            of the lawful duty of such Governmental Authority or Government Official;

 

		(c)	securing
                                            any improper advantage;

 

		(d)	inducing
                                            such Governmental Authority or Government Official to use its or his/her influence with a
                                            Governmental Authority to affect or influence any act or decision of such Governmental Authority,
                                            in order to assist any IMS Group Company or its Connected Persons in obtaining or retaining
                                            business for or with, or directing business to, any person; or

 

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		(e)	influencing
                                            any person, while knowing that all or a portion of such money or thing of value will be offered,
                                            given, or promised, directly or indirectly, to any Governmental Authority or Government Official
                                            for the purposes of influencing or inducing any act or decision of such Governmental Authority
                                            or Government Official, in its or his/her official capacity; or

 

		(f)	inducing
                                            such Governmental Authority or Government Official to do or omit to do any act in violation
                                            of the lawful duty of such Governmental Authority or Government Official.

 

		8.	Licences

 

		8.1	All
                                            material licences, registrations, consents and other authorizations required by each IMS
                                            Group Company in order for it to conduct its business as it is currently conducted (the “IMS
                                            Licences”) have been obtained.

 

		8.2	Each
                                            IMS Licence is in full force and effect and, to the Knowledge of IMS, there are no grounds
                                            for the suspension, cancellation, variation, revocation or termination of any IMS Licences.

 

		9.	Assets

 

		9.1	Save
                                            for assets that are leased or the subject of any hire purchase or rental agreement, all material
                                            assets used by any IMS Group Company for or in connection with the IMS Business which, in
                                            the reasonable opinion of IMS, are required for the Business as it is currently conducted
                                            are legally and beneficially owned by an IMS Group Company (with good, valid and marketable
                                            title) and, are free from all Encumbrances, save for any IMS Permitted Encumbrances.

 

		9.2	All
                                            assets referred to in paragraph 10.1 are included in the IMS Locked-Box Accounts, except
                                            for any fixed asset or asset acquired, sold, realised or applied in the ordinary course of
                                            business since the IMS Locked-Box Date.

 

		9.3	Each
                                            asset referred to in paragraph 10.1 capable of possession is in the possession of an IMS
                                            Group Company.

 

		9.4	All
                                            assets referred to in paragraph 10.1 are used exclusively in connection with the IMS Business.

 

		9.5	No
                                            IMS Group Company owns (legally or beneficially) or leases any assets in any jurisdiction
                                            other than the jurisdictions included within the IMS Territory.

 

		9.6	No
                                            IMS Group Company has agreed to acquire any asset on terms that ownership of such asset does
                                            not pass until full payment is made, where payment is currently outstanding.

 

		10.	Debts
                                            Owed by IMS Group Companies

 

		10.1	A
                                            list is set out in Schedule 2 to the IMS Disclosure Letter disclosing details of each overdraft,
                                            loan and other financial facility of each IMS Group Company.

 

		10.2	The
                                            total amount of the borrowings of each IMS Group Company does not exceed any limitations
                                            on the borrowing powers set out in its articles of association, by-laws or equivalent constitutional
                                            documents.

 

		10.3	No
                                            demand or notice to repay has been received under, and, so to the Knowledge of IMS, no event
                                            has occurred which is, or which will result in, an event of default, an early repayment or
                                            a breach of the terms of or under any borrowing or financial facility of any IMS Group Company.

 

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		11.	Debts
                                            Owed to IMS Group Companies

 

		11.1	No
                                            IMS Group Company has lent any money which has not been repaid to it, and there are no debts
                                            owing to any IMS Group Company other than debts that have arisen in the ordinary course of
                                            business.

 

		11.2	None
                                            of the debts owing to any IMS Group Company as reflected in the IMS Locked-Box Accounts or
                                            any debts subsequently recorded in the books of any IMS Group Company have been outstanding
                                            (in whole or in part) for more than twelve (12) months from its due date for payment.

 

		11.3	No
                                            IMS Group Company has:

 

		(a)	factored
                                            or discounted any of its debts; or

 

		(b)	engaged
                                            in financing of a type which would not need to be shown or fully reflected in the IMS Locked-Box
                                            Accounts.

 

		12.	Grants
                                            and Allowances

 

No IMS
Group Company has applied for or received any grant, subsidy or allowance from any Governmental Authority or person in the twelve (12)
months immediately preceding the Signature Date, and no such grant, subsidy or allowance is pending as of the Signature Date.

 

		13.	Powers
                                            of Attorney

 

Except
for powers of attorney contained in other agreements as an incidental provision, no IMS Group Company has given any power of attorney
or other express authority which is still in force to any person to enter into any contract or commitment, or to act, on its behalf,
other than to officers, directors or employees to enter into contracts in the normal course of their duties.

 

		14.	Arrangements
                                            with Aleph Group and Sony

 

		14.1	Save
                                            for the IMS Permitted Dividends, no indebtedness and no contract or arrangement is outstanding
                                            between any IMS Group Company and Aleph or Sony, other than on arm’s length commercial
                                            terms in the ordinary course of business.

 

		14.2	Save
                                            for the IMS Permitted Dividends, neither Aleph nor Sony is entitled to a claim of any nature
                                            against any IMS Group Company nor has it assigned to any person the benefit of any such claim.

 

		15.	Litigation
                                            and Investigations

 

		15.1	No
                                            IMS Group Company is, or has been in the three (3) years immediately preceding the Signature
                                            Date, engaged in any material litigation, arbitration, mediation or other legal proceedings
                                            (whether as plaintiff, defendant or otherwise). To the Knowledge of IMS, no such litigation,
                                            arbitration, mediation or other legal proceedings are pending or have been threatened in
                                            writing by or against an IMS Group Company and there are no circumstances likely to give
                                            rise to any such proceedings.

 

		15.2	To
                                            the Knowledge of IMS, no IMS Group Company is the subject of any investigation, enquiry or
                                            enforcement proceedings by any governmental or other body and there are no circumstances
                                            likely to give rise to any such proceedings.

 

		15.3	To
                                            the Knowledge of IMS, no current or former director or employee of any IMS Group Company
                                            (in his or her capacity as such) is engaged in or subject to any of the matters referred
                                            to in paragraphs 16.1 and 16.2 for which any IMS Group Company may be liable.

 

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		15.4	No
                                            IMS Group Company is affected to a material extent by any existing or pending judgments or
                                            rulings, orders or decrees of any court or governmental authority or any expert determination
                                            or arbitral award to which it is subject.

 

		16.	Insurance

 

		16.1	Complete
                                            and accurate copies of all material insurance policies maintained by each IMS Company are
                                            contained in the IMS Data Room.

 

		16.2	All
                                            premiums due and payable in respect of each insurance policy referred to in paragraph 17.1
                                            have been paid and, to the Knowledge of IMS, each policy is in full force and effect and
                                            to the Knowledge of A15 there are no circumstances that are reasonably likely to make any
                                            policy void.

 

		16.3	To
                                            the Knowledge of IMS, no claims are outstanding under any insurance policy referred to in
                                            paragraph 17.1, and to the Knowledge of IMS, no event has occurred which might give rise
                                            to any claim under such insurance policies in excess of US$100,000 (one hundred thousand
                                            US Dollars).

 

		16.4	During
                                            the three (3) years immediately preceding the Signature Date no individual claim has
                                            been made by any IMS Group Company under any insurance policy referred to in paragraph 17.1.

 

		17.	Insolvency

 

No IMS
Group Company is insolvent or unable to pay its debts under the insolvency laws of the jurisdiction of its incorporation nor has it stopped
paying debts as they fall due. No moratorium has been obtained nor any Order been made, petition presented or resolution passed for the
winding-up or bankruptcy of any IMS Group Company. No administrator, receiver, monitor, manager or equivalent officer has been appointed
by any person in respect of any IMS Group Company or all or any material part of its assets and, to the Knowledge of IMS, no steps have
been taken to initiate any such appointment and no voluntary arrangement has been proposed relating to any IMS Group Company. No IMS
Group Company has become subject to any analogous proceedings, appointments or arrangements under the laws of any applicable jurisdiction.

 

		18.	Accounts

 

		18.1	Complete
                                            and accurate copies of the IMS Locked-Box Accounts are contained in the IMS Data Room.

 

		18.2	The
                                            IMS Locked-Box Accounts have been prepared in accordance with US GAAP.

 

		18.3	The
                                            IMS Locked-Box Accounts give a true and fair view of the assets, liabilities, financial position
                                            and profit or loss of each IMS Group Company and of the IMS Group as a whole as at the IMS
                                            Locked-Box Date.

 

		18.4	No
                                            change has been made to the accounting policies or to any other accounting treatment of any
                                            IMS Group Company for at least two (2) years immediately preceding the IMS Locked-Box
                                            Date.

 

		18.5	Save
                                            as Disclosed in the IMS Locked-Box Accounts, the IMS Locked-Box Accounts were not affected
                                            in any material respect by any unusual or non-recurring item.

 

		18.6	The
                                            IMS Management Accounts fairly present in all material respects the assets, liabilities and
                                            financial position of each IMS Group Company as at the IMS Management Accounts Date.

 

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		18.7	The
                                            IMS Management Accounts have been prepared on a basis consistent with the management accounts
                                            of each IMS Group Company prepared in the two (2) years immediately preceding the Signature
                                            Date.

 

		18.8	All
                                            financial and other records of the IMS Group Companies:

 

		(a)	have
                                            been properly prepared and maintained; and

 

		(b)	are
                                            in the possession of an IMS Group Company.

 

		19.	Events
                                            Since the IMS Locked-Box Date

 

		19.1	Since
                                            the IMS Locked-Box Date:

 

		(a)	the
                                            business of each IMS Group Company has been conducted in the ordinary course in all material
                                            respects and as a going concern;

 

		(b)	there
                                            has been no material adverse change in the financial or trading position of the IMS Group;

 

		(c)	no
                                            dividend or other distribution has been declared, made or paid by any IMS Group Company (save
                                            for any IMS Permitted Dividend);

 

		(d)	no
                                            IMS Group Company has issued or agreed to issue any share capital or loan capital or other
                                            similar interest;

 

		(e)	no
                                            asset of a value in excess of one million US Dollars (US$ 1,000,000) has been acquired or
                                            disposed of nor has there been any agreement to acquire or dispose of any such asset; and

 

		(f)	no
                                            liability (actual or contingent) has been incurred or has arisen which is in excess of $2,000,000.

 

		20.	Taxation

 

For the purposes of this paragraph
20, the following expressions shall have the following meanings:

 

“Code”
means the U.S. Internal Revenue Code of 1986, as amended; and

 

“Treasury
Regulations” means the regulations promulgated by the United States Department of Treasury under and pursuant to the Code.

 

		20.1	All
                                            material liabilities of each IMS Group Company for Taxes as at the IMS Locked-Box Date are
                                            provided for in the IMS Locked-Box Accounts and all Tax for which each IMS Group Company
                                            is liable or is liable to account for has been duly paid (insofar as it ought to have been
                                            paid) and each IMS Group Company has made all material withholdings, deductions and retentions
                                            that it was legally required to make and has accounted in full to the appropriate authority
                                            for all amounts so withheld, deducted and retained.

 

		20.2	Each
                                            IMS Group Company has maintained, in all material respects, all records in relation to Tax.

 

		20.3	No
                                            IMS Group Company has in the three (3) years immediately preceding the Signature Date
                                            been involved, or is involved in any dispute as at the Signature Date in relation to any
                                            Taxes with any Taxation Authority and to the Knowledge of IMS there are no circumstances
                                            existing which make it likely that such a dispute will arise.

 

		20.4	All
                                            material returns to be submitted, all material information required to be supplied and all
                                            material notices and payments required to be made by each IMS Group Company in each case
                                            for the purposes of Taxation have been submitted, supplied or made in accordance with applicable
                                            Laws, in each case in all material respects.

 

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		20.5	Neither
                                            IMS nor any IMS Group Company has received written notice of any intention to re-open any
                                            closed assessments of any IMS Group Company or the IMS Business, as the case may be, for
                                            any Tax period in respect of which Tax Returns have been filed.

 

		20.6	No
                                            IMS Group Company has, within three (3) years immediately preceding the Signature Date,
                                            paid or become liable to pay any material tax deficiency, penalty, fine, surcharge or interest
                                            in connection with any Tax.

 

		20.7	The
                                            amount of Tax chargeable on each IMS Group Company during any accounting period ending on
                                            or within the three (3) years immediately preceding the Signature Date has not depended
                                            on any concessions, agreements or other formal or informal arrangements with any Taxation
                                            Authority.

 

		20.8	To
                                            the Knowledge of IMS, no IMS Group Company has, within the three (3) years immediately
                                            preceding the Signature Date, been the subject of an investigation, audit or visit of a non-routine
                                            nature by or involving any Taxation Authority.

 

		20.9	To
                                            the Knowledge of IMS, no IMS Group Company has been involved in any scheme, arrangement,
                                            transaction or series of transactions in which the main purpose or one of the main purposes
                                            was the evasion or avoidance of Tax.

 

		20.10	Each
                                            IMS Group Company is, to the extent that it is required to be registered, a registered person
                                            for the purposes of the relevant value added tax applicable in any relevant jurisdiction
                                            and has not within three (3) years immediately preceding the Signature Date been treated
                                            as a member of a group for such value added or turnover tax.

 

		20.11	Each
                                            IMS Group Company has complied in all material respects with all statutory provisions, rules,
                                            regulations, orders and directions concerning the relevant value added or turnover tax in
                                            any relevant jurisdiction.

 

		20.12	To
                                            the Knowledge of IMS, all transactions or arrangements made by any IMS Group Company with
                                            a related person (under applicable law as it relates to transfer pricing or its equivalent
                                            in any jurisdiction) have been made on arm’s-length terms.

 

		20.13	All
                                            documents in the possession of an IMS Group Company or to the production of which an IMS
                                            Group Company is entitled and which attract stamp duty and which are necessary for any IMS
                                            Group Company in proving title or which an IMS Group Company may wish to rely upon for the
                                            purposes of any litigation in which an IMS Group Company is or is, to the Knowledge of IMS,
                                            reasonably likely to be involved or in connection with any Tax matter have been properly
                                            stamped.

 

		20.14	To
                                            the Knowledge of IMS, with respect to any period for which Tax Returns have not yet been
                                            filed, or for which Taxes are not yet due or owing, IMS for itself and the other IMS
                                            Group Companies have each made accruals for such material Taxes in its books and records
                                            in accordance with applicable Law.

 

		20.15	To
                                            the Knowledge of IMS, no proceeding by any Governmental Authority is pending or threatened
                                            with respect to (a) any material Taxes due from or with respect to any IMS Group Company
                                            or (b) any material Tax Return filed by or with respect to any IMS Group Company or
                                            the IMS Business.

 

		20.16	To
                                            the Knowledge of IMS, each IMS Group Company has withheld from its employees, independent
                                            contractors, creditors, stockholders and third parties material amounts in all respects as
                                            at the IMS Locked-Box Date to the extent required and in compliance (in all material respects)
                                            with all Tax withholding and remitting provisions of applicable Law.

 

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		20.17	No
                                            IMS Group Company is treated for any taxation purpose as resident in a country other than
                                            the country of its incorporation, and to the Knowledge of IMS no IMS Group Company has had
                                            at any time, a branch, agency or permanent establishment in a country other than the country
                                            of its incorporation.

 

		20.18	No
                                            IMS Group Company will be required to include any item of income in, or exclude any item
                                            of deduction from, taxable income for any taxable period (or portion thereof) beginning after
                                            the Completion Date as a result of any: (a) change in method of accounting (including
                                            any change in method of Tax accounting under Section 481(a) of the Code or any
                                            corresponding or similar provision of U.S. state or local or non-U.S. Law) for a taxable
                                            period ending on or prior to the Completion Date made or requested on or prior to the Completion
                                            Date; (b) use of an improper method of accounting for a taxable period ending on or
                                            prior to the Completion Date; (c) “closing agreement” as described in Section 7121
                                            of the Code (or any corresponding or similar provision of U.S. state or local or non-U.S.
                                            Law) executed on or prior to the Completion Date; (d) intercompany transactions entered
                                            into on or prior to the Completion Date or any excess loss account described in Treasury
                                            Regulations under Section 1502 of the Code (or any corresponding or similar provision
                                            of U.S. state or local or non-U.S. Law) existing at Completion; (e) installment sale
                                            or open transaction disposition made on or prior to the Completion Date; (f) deferred
                                            revenue or prepaid amount received on or prior to the Completion Date; or (g) election
                                            under Section 965 of the Code (or any corresponding or similar provision of U.S. state
                                            or local or non-U.S. Law) made on or prior to the Completion Date.

 

		20.19	No
                                            IMS Group Company has been a party to any “reportable transaction,” as defined
                                            in Section 6707A(c) of the Code and Treasury Regulation Section 1.6011-4(b).

 

		20.20	There
                                            is no Tax ruling, request for Tax ruling or settlement, compromise, closing or collection
                                            agreement with respect to Taxes in effect or pending with respect to any IMS Group Company.
                                            No IMS Group Company is party to, is bound by or has any obligation under any Tax sharing,
                                            Tax indemnity, Tax allocation or similar agreement, arrangement or practice with respect
                                            to Taxes.

 

		20.21	No
                                            IMS Group Company (a) is a member of any affiliated group within the meaning of Section 1504
                                            of the Code, any group of persons filing an affiliated, consolidated, unitary or combined
                                            report for purposes of state franchise or income Tax or any similar group defined under a
                                            similar provision of U.S. state, local or non-U.S. Law (an “Affiliated Group”)
                                            (other than an Affiliated Group comprising solely of members of the IMS Group) or (b) has
                                            any liability for the Taxes of any person under Treasury Regulations Section 1.1502-6
                                            (or any similar provision of U.S. state or local or non-U.S. Law), as a result of being a
                                            transferee, successor or member of an Affiliated Group (other than an Affiliated Group comprising
                                            solely of members of the IMS Group), by Contract, pursuant to applicable Law, or otherwise.

 

		20.22	Within
                                            the past five (5) years, no IMS Group Company has distributed stock of another person,
                                            and has not had its securities distributed by another person, in a transaction that was purported
                                            or intended to be governed in whole or in part by Section 355 or Section 361 of
                                            the Code.

 

		20.23	No
                                            IMS Group Company is or has ever been a “United States real property holding corporation”
                                            within the meaning of Section 897(c)(2) of the Code.

 

		21.	Intellectual
                                            Property and Information Technology Registered Intellectual Property

 

		21.1	A
                                            list of the IMS Registered Intellectual Property is contained in the IMS Data Room.

 

		21.2	All
                                            registration, renewal and other maintenance fees in respect of the IMS Registered Intellectual
                                            Property have been paid in full.

 

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		21.3	No
                                            IMS Group Company has received any written notice that the IMS Registered Intellectual Property
                                            is being opposed, or that any third party is seeking its invalidation or revocation.

 

		21.4	All
                                            IMS Registered Intellectual Property is registered in the name of an IMS Group Company.

 

Business Intellectual Property

 

		21.5	All
                                            material IMS Business Intellectual Property used in the operation of any IMS Group Company
                                            is either owned by the IMS Group Company or is used by the IMS Group Company pursuant to
                                            a valid license.

 

		21.6	Each
                                            IMS Group Company has taken reasonable actions to protect its IMS Business Intellectual Property.

 

		21.7	To
                                            the Knowledge of IMS, the use by any IMS Group Company of the Business Intellectual Property
                                            does not infringe the Intellectual Property of any third party in any material respect.

 

		21.8	No
                                            IMS Group Company has, in the three (3) years immediately preceding the Signature Date,
                                            issued any notice of any legal proceedings, claims or complaints against a third party regarding
                                            the infringement of the IMS Business Intellectual Property. To the Knowledge of IMS, in the
                                            three (3) years immediately preceding the Signature Date, no third party has infringed
                                            the IMS Business Intellectual Property.

 

		21.9	A
                                            list of all material licences granted to any IMS Group Company relating to the IMS Business
                                            Intellectual Property (other than licences or agreements relating to shrink-wrapped, click-wrapped
                                            or other software commercially available off the shelf) (the “IMS Incoming Licences”)
                                            is contained in the IMS Data Room.

 

		21.10	There
                                            are no material licences granted by any IMS Group Company relating to the IMS Business Intellectual
                                            Property owned by such IMS Group Company (the “IMS Outgoing Licences”).

 

		21.11	No
                                            written notice alleging any breach or invalidity of any IMS Incoming Licence or any IMS Outgoing
                                            Licence has been sent or received by any IMS Group Company in the three (3) years immediately
                                            preceding the Signature Date.

 

		21.12	No
                                            employee or former employee of an IMS Group Company has any right to payment with respect
                                            to the use of, or any interest in any IMS Business Intellectual Property.

 

		21.13	With
                                            the exception of IMS Business Intellectual Property that is the subject of the Licences,
                                            (a) the IMS Business Intellectual Property has been developed by employees of an IMS Group
                                            Company acting in the course of their employment; or (b) all consultants, contractors,
                                            and/or employees who have developed or who have contributed to the development of any IMS
                                            Business Intellectual Property have assigned to an IMS Group Company pursuant to a valid,
                                            legally binding, written assignment, any right, title, and interest in such IMS Business
                                            Intellectual Property which did not automatically vest in an IMS Group Company by virtue
                                            of any relevant law.

  

IT Systems / IT Contracts

 

		21.14	A
                                            list of all material IMS IT Systems is contained in the IMS Data Room.

 

		21.15	A
                                            list of all material IMS IT Contracts is contained in the IMS Data Room.

 

		21.16	An
                                            IMS Group Company owns or has rights to use all material IMS IT Systems.

 

		21.17	The
                                            IMS IT Systems comprises all rights to computer hardware (including network and telecommunications
                                            equipment) and software (including associated preparatory manuals and other related documentation)
                                            and related services, which, in the reasonable opinion of IMS, are necessary to operate the
                                            business of the IMS Group Companies in the same manner and for the same purposes as the business
                                            of the IMS Group was operated in the 12 month period immediately prior to Completion.

 

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		21.18	To
                                            the Knowledge of IMS, (a) all the material IMS IT Contracts are valid and binding and
                                            (b) no written notice alleging any breach or invalidity of any IMS IT Contract has been
                                            sent or received by any IMS Group Company in the twelve (12) months immediately preceding
                                            the Signature Date.

 

Computer
Operation and Maintenance

 

		21.19	To
                                            the Knowledge of IMS, no material part of the IMS IT Systems has materially failed to function
                                            at any time during the two (2) years immediately preceding the Signature Date.

 

		21.20	To
                                            the Knowledge of IMS, in the last twelve (12) months no part of the IMS IT Systems has been
                                            infected by any virus or other extraneously induced malfunction which has had a material
                                            impact on the IMS Business, and no person has had unauthorized access to the IT Systems or
                                            any data stored thereon. Each Group Company operates a procedure aimed at avoiding such infections
                                            and unauthorized access.

 

		21.21	The
                                            IMS Group has taken steps which are aimed at ensuring that the IMS Business can continue
                                            in the event of a failure of the IMS IT Systems (whether due to natural disaster, power failure
                                            or otherwise).

 

		22.	Real
                                            Estate

 

		22.1	The
                                            IMS Properties comprise all the material land and buildings owned, controlled, occupied or
                                            used by any IMS Group Company or in which any IMS Group Company has any right, interest or
                                            liability.

 

		22.2	The
                                            information in respect of the IMS Properties contained in the IMS Data Room is accurate in
                                            all material respects.

 

		22.3	Each
                                            lease of the IMS Properties is: (a) in full force and effect; (b) no written notice
                                            alleging any breach or invalidity of any such lease has been sent or received by any IMS
                                            Group Company in the twelve (12) months immediately preceding the Signature Date; and (c) no
                                            written notice of termination of any such lease has been served or received by any IMS Group
                                            Company in the twelve (12) months immediately preceding the Signature Date.

 

		22.4	An
                                            IMS Group Company is in exclusive possession of the whole of each of the IMS Properties,
                                            and no other person is in or entitled to occupation of any of the IMS Properties.

 

		22.5	An
                                            IMS Group Company has in its possession and control all title deeds and documents to the
                                            IMS Owned Properties.

 

		22.6	There
                                            is no outstanding liability, including without limitation, for any rent, rates or taxes in
                                            respect of any of the IMS Properties. No rent reviews and/or rent adjustments under any leases
                                            of the IMS Properties are currently outstanding or in process.

 

		22.7	To
                                            the Knowledge of IMS, no IMS Group Company is actually or contingently liable in any material
                                            respect in relation to any freehold or leasehold property (whether as owner or former owner
                                            or as tenant or former tenant of any such property or as an original contracting party, or
                                            guarantor of any party, to any deed, document, lease or licence connected therewith) other
                                            than the IMS Properties.

 

		23.	Environmental
                                            Matters

 

		23.1	Each
                                            IMS Group Company is conducting, and has during the past three (3) years conducted,
                                            the IMS Business in compliance with Environmental Law in all material respects.

 

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		23.2	No
                                            Environmental Proceedings are pending, nor have any been threatened in writing, against any
                                            IMS Group Company.

 

		24.	Employment;
                                            Labor Matters

 

		24.1	Details
                                            of all remuneration and other benefits which each IMS Group Company is bound to provide to
                                            each IMS Key Manager are contained in the IMS Data Room.

 

		24.2	Copies
                                            of standard template terms and conditions, staff handbooks and policies and the IMS Benefit
                                            Plans which apply to IMS Key Managers and IMS Key Workers are contained in the IMS Data Room.

 

		24.3	The
                                            terms of employment or engagement of all IMS Key Managers are such that their employment
                                            or engagement may be terminated by not more than three (3) months’ notice given
                                            at any time without liability for any payment, including by way of compensation or damages
                                            (except for any compensation under any applicable statutory regime in the relevant jurisdiction).

 

		24.4	Since
                                            the IMS Locked-Box Date, no IMS Group Company has made any announcement or proposal concerning
                                            any salaries of IMS Key Managers, with or without retroactive action that would have a material
                                            impact on the salaries or other benefits of IMS Key Managers.

 

		24.5	Since
                                            the IMS Locked-Box Date, no IMS Group Company has made a written offer of employment with
                                            an aggregate remuneration package of more than US$100,000 per annum (including all benefits
                                            and allowances).

 

		24.6	No
                                            IMS Key Manager has given or received written notice to terminate his employment or engagement
                                            with an IMS Group Company and, to the Knowledge of IMS, there are no circumstances likely
                                            to give rise to such notice.

 

		24.7	No
                                            IMS Group Company is currently engaged or involved in any material dispute with any IMS Worker
                                            or any labour dispute involving any IMS Group Company which is material.

 

		24.8	To
                                            the extent relevant, materially complete and accurate details of each trade union, works
                                            council, whether national or cross-border, special negotiating body, staff association or
                                            other body recognized by any IMS Group Company for the purposes of representing any IMS Workers
                                            are contained in the IMS Data Room.

 

		24.9	Complete
                                            and accurate copies of all collective agreements and of any applicable information or consultation
                                            arrangement (whether legally binding or not) concerning any IMS Worker and any IMS Group
                                            Company are contained in folder “1.6.6 Employees” at “6.5” of the
                                            IMS Data Room, and in section “1.18.99” of the IMS Data Room.

 

		24.10	All
                                            salaries, wages and fees and other benefits of all IMS Workers have, to the extent due, been
                                            paid or discharged in full together with all related payments to third party benefit providers
                                            or relevant authorities.

 

		24.11	To
                                            the extent required by applicable Laws, each IMS Group Company has maintained records regarding
                                            the service of each IMS Worker (including details of the terms of employment, payments of
                                            statutory sick pay and maternity pay, disciplinary and grievance matters, health and safety
                                            matters, income tax and social security contributions, wage and time records) which are current,
                                            in each case in all material respects.

 

		24.12	To
                                            the extent required by applicable Laws, each employee is lawfully employed by IMS or the
                                            applicable Subsidiary Undertaking.

 

		24.13	All
                                            IMS Group Companies are in compliance with all the laws, decrees, and regulations that govern
                                            the employees’ matters, such as the labor laws, social insurance laws and health and
                                            safety laws.

 

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		25.	Company
                                            Plans

 

For the
purposes of this paragraph 25, the following expressions shall have the following meanings:

 

“IMS
Disclosed Plans” means the IMS Benefit Plans;

 

“IMS
Worker” means a current or former worker of the IMS Group; and

 

“Defined
Contribution Plan” means a plan that provides for an individual account for each participant and for Pension Benefits based
solely on the amount contributed to the participant’s account and any income, expenses, gains and losses and any forfeitures of
accounts of other participants which may be allocated to such participant’s account.

 

		25.1	A
                                            complete and accurate list of all IMS Disclosed Plans is contained in the IMS Data Room.

 

		25.2	Other
                                            than the IMS Disclosed Plans, there are no agreements, arrangements, obligations or commitments
                                            (whether funded or unfunded) under which any IMS Group Company is required to make payment
                                            of a contribution towards, or other provision for, Pension Benefits for the benefit of an
                                            IMS Worker or an IMS Worker’s dependents.

 

		25.3	The
                                            IMS Data Room contains complete and accurate copies of the following documents in relation
                                            to each IMS Plan:

 

		(a)	the
                                            material governing documents;

 

		(b)	all
                                            policies of insurance currently in force;

 

		(c)	members’
                                            booklets currently in force and announcements to the relevant members made on the date the
                                            respective booklets were published;

 

		(d)	membership
                                            data and reasonable details of the rates and amounts of contributions payable by any IMS
                                            Group Company to the IMS Disclosed Plans; and

 

		(e)	in
                                            relation to any IMS Disclosed Plan which is not a Defined Contribution Plan, the reports
                                            of the most recently performed actuarial valuation of the IMS Disclosed Plan.

 

		25.4	To
                                            the Knowledge of IMS, the IMS Disclosed Plans have been operated in all material respects
                                            in accordance with their governing documents and all applicable laws and regulatory requirements,
                                            including any applicable laws or regulatory requirements relating to the funding of Pension
                                            Benefits.

 

		25.5	To
                                            the Knowledge of IMS, there are no material outstanding contributions, costs (including levies)
                                            or expenses payable by any IMS Group Company in respect of the IMS Disclosed Plans.

 

		25.6	To
                                            the Knowledge of IMS, no claim has been made or threatened in writing in the twelve (12)
                                            months immediately preceding the Signature Date against any IMS Group Company or the trustees
                                            or administrators of any of the IMS Disclosed Plans, or against any person whom any IMS Group
                                            Company is or may be liable to indemnify or compensate, in connection with any of the IMS
                                            Disclosed Plans (other than routine claims for benefits).

 

		26.	Exchange
                                            Matters

 

To the
Knowledge of IMS, each IMS Group Company has duly complied in all material respects with foreign exchange Laws, including compliance
with all obligations arising from currency imports and exports, external debt (assets and liabilities), international investment and
clearing accounts.

 

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Schedule 13

 

Aleph Cayman Warranties

 

		1.	Incorporation,
                                            Capacity and Authority

 

		1.1	Aleph
                                            Cayman has been duly incorporated, and is validly existing, under the laws of the Cayman
                                            Islands.

 

		1.2	Aleph
                                            Cayman has full power, authority and capacity to enter into, deliver and perform this Agreement
                                            and each other Transaction Document to which it is a party.

 

		1.3	The
                                            execution, delivery and performance by Aleph Cayman of this Agreement and the other Transaction
                                            Documents to which it is a party will not constitute a breach of (a) any Laws applicable
                                            to Aleph Cayman; (b) the provisions of its articles of association, by-laws or equivalent
                                            constitutional documents; or (c) any Orders against, or binding upon, Aleph Cayman or
                                            (d) any other material agreements or instruments to which Aleph Cayman is party or by
                                            which Aleph Cayman is bound.

 

		1.4	Except
                                            for the Pre-Completion Conditions and the processes referred to in Clause 6 (Pre-Completion
                                            Arrangements), to the Knowledge of Aleph Cayman, the execution, delivery and performance
                                            by Aleph Cayman of its obligations under this Agreement and the other Transaction Documents
                                            to which it is a party will not require it to obtain any consent or approval of, or give
                                            any notice to or make any registration or filing with, any Governmental Authority which has
                                            not been obtained or made at the Restatement Date on a basis both unconditional and which
                                            cannot be revoked.

 

		1.5	This
                                            Agreement and each of the other Transaction Documents to which it is a party have been duly
                                            executed and delivered by Aleph Cayman, and this Agreement and each of the other Transaction
                                            Documents to which it is a party constitute the legal, valid and binding obligations of Aleph
                                            Cayman, enforceable against it in accordance with their terms, except as may be limited by
                                            bankruptcy or insolvency Laws or other similar Laws affecting creditors’ rights in
                                            general.

 

		1.6	Aleph
                                            Cayman is not insolvent or unable to pay its debts under the insolvency laws of the jurisdiction
                                            of its incorporation nor has it stopped paying debts as they fall due. No moratorium has
                                            been obtained nor any Order been made, petition presented or resolution passed for the winding-up
                                            or bankruptcy of Aleph Cayman. No administrator, receiver, monitor, manager or equivalent
                                            officer has been appointed by any person in respect of Aleph Cayman or all or any material
                                            part of its assets and, to the Knowledge of Aleph Cayman, no steps have been taken to initiate
                                            any such appointment and no voluntary arrangement has been proposed relating to Aleph Cayman.
                                            Aleph Cayman has not become subject to any analogous proceedings, appointments or arrangements
                                            under the laws of any applicable jurisdiction.

 

		1.7	Aleph
                                            Cayman is not a Government Official, and no Government Official has any legal, financial
                                            or beneficial interest in Aleph Cayman or in any Transaction Document, and none of the owners
                                            or directors of Aleph Cayman is a Government Official.

 

		1.8	Aleph
                                            Cayman has received a copy of the A15 Disclosure Letter and the Connect Ads Data Room USB
                                            Drive.

 

		2.	The
                                            Consideration Shares

 

		2.1	The
                                            Consideration Shares will, when issued, have been validly authorised and issued and be fully
                                            paid up and no further amounts will be payable to Aleph Cayman in respect of their issue.

 

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		2.2	Upon
                                            issue of the Consideration Shares A15 will be the sole legal and beneficial owner of, and
                                            have the right to exercise all voting and other rights over, the Consideration Shares.

 

		2.3	When
                                            issued, there will be no Encumbrance on, over or affecting any of the Consideration Shares
                                            nor will there be any commitment by Aleph Cayman to give or create any such Encumbrance,
                                            and, so far as Aleph Cayman is aware, no person has claimed to be entitled to any such Encumbrance.

 

		2.4	The
                                            Consideration Shares will constitute the Consideration Shares Percentage of the entire issued
                                            share capital of Aleph Cayman immediately following Completion.

 

		2.5	There
                                            are no agreements or commitments outstanding which give to any person the right to call for
                                            the issue of any shares, debentures or other securities of Aleph Cayman or accord to any
                                            person the right to call for the issue of any such shares, debentures or other securities.

 

		3.	The
                                            IMS Group

 

		3.1	The
                                            particulars of each IMS Group Company set out in Part 2 of Schedule 2 (The IMS Group)
                                            are true and accurate.

 

		3.2	The
                                            entity identified in Part 2 of Schedule 2 (The IMS Group) as the holder of the
                                            shares in an IMS Subsidiary Undertaking is the legal and beneficial owner of such shares,
                                            which constitute the entire allotted and issued share capital of such IMS Subsidiary Undertaking.

 

		3.3	The
                                            shares in each IMS Group Company are free from all Encumbrances, and there is no agreement
                                            or commitment to give or create any Encumbrance over or affecting the shares of any IMS Subsidiary
                                            Undertaking.

 

		3.4	The
                                            shares in each IMS Subsidiary Undertaking have been duly authorized and validly issued and
                                            are fully paid-up in accordance with applicable Law.

 

		3.5	There
                                            are no agreements or commitments outstanding which call for the issue of any shares or debentures
                                            in or other securities of any IMS Subsidiary Undertaking or accord to any person the right
                                            to call for the issue of any such shares, debentures or other securities.

 

		3.6	No
                                            IMS Group Company has any interest in the share capital, loan capital or other securities
                                            or otherwise controls or takes part in the management of any other company which is not an
                                            IMS Group Company.

 

		3.7	No
                                            IMS Group Company has at any time had any subsidiary or subsidiary undertaking except for
                                            the IMS Group Companies.

 

		3.8	No
                                            IMS Group Company acts or carries on business together with any other person in any partnership
                                            or other unincorporated association, joint venture or consortium.

 

		3.9	No
                                            IMS Group Company has any branch or agency in any jurisdiction other than in the jurisdiction
                                            of its incorporation.

 

		4.	Constitutional
                                            and Corporate Matters

 

		4.1	Aleph
                                            Cayman has been duly incorporated or organized, and is validly existing, under the laws of
                                            the Cayman Islands, and each other IMS Group Company has been duly incorporated or organized,
                                            and is validly existing, under the laws of its jurisdiction of incorporation.

 

		4.2	Each
                                            IMS Group Company has full power to carry on its business as it is carried on at the Signature
                                            Date.

 

		4.3	The
                                            copies of each IMS Group Company’s Organizational Documents contained in the IMS Data
                                            Room are up-to-date, accurate and complete, reflect all amendments made until immediately
                                            preceding the Signature Date and are maintained in accordance with applicable Laws, in each
                                            case, in all material respects.

 

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		4.4	The
                                            copies of the minute books of shareholder meetings and other records of the IMS Group Company
                                            were properly maintained in all material respects.

 

		4.5	All
                                            filings and returns that each IMS Group Company is required to file in accordance with applicable
                                            Laws have been correctly made and duly filed or delivered, in each case, in all material
                                            respects.

 

		4.6	All
                                            dividends or distributions declared, made or paid by any IMS Group Company have been declared,
                                            made or paid in accordance with the applicable Organizational Documents and all applicable
                                            Laws, in each case, in all material respects.

 

		5.	Contracts

 

		5.1	Save
                                            for any partner agreements entered into by the IMS Group, no IMS Group Company is a party
                                            to any IMS Material Contract, which term, for the avoidance of doubt, excludes insertion
                                            orders).

 

		5.2	A
                                            complete and accurate copy of each IMS Material Contract (which, for the avoidance of doubt,
                                            does not include any insertion orders), is contained in the IMS Data Room.

 

		5.3	A
                                            complete and accurate copy of each IMS Partner Agreement is contained in the IMS Data Room.

 

		5.4	Each
                                            of the IMS Material Contracts and the IMS Partner Agreements: (a) is in full force and
                                            effect; (b) no written notice alleging any breach or invalidity of any IMS Material
                                            Contract or IMS Partner Agreement has been sent or received by any IMS Group Company in the
                                            twelve (12) months immediately preceding the Signature Date; and (c) no written notice
                                            of termination of any IMS Material Contract or IMS Partner Agreement has been served or received
                                            by any IMS Group Company in the twelve (12) months immediately preceding the Signature Date
                                            and, to the Knowledge of Aleph Cayman, there are no grounds for termination, rescission or
                                            repudiation of the IMS Material Contracts or IMS Partner Agreements.

 

		5.5	To
                                            the Knowledge of Aleph Cayman, no IMS Group Company is in default of any IMS Material Contract
                                            or IMS Partner Agreement where such default would be material having regard to the trading,
                                            profits or financial position of the IMS Group.

 

		5.6	No
                                            guarantee, indemnity, mortgage, charge, pledge, lien or other security agreement has been
                                            given or entered into by an IMS Group Company in respect of any obligations of another person
                                            (other than another member of the IMS Group), including any member of the IMS Group.

 

		5.7	No
                                            guarantee, indemnity, mortgage, charge, pledge, lien or other security agreement or arrangement
                                            has been given or entered into by any person other than an IMS Group Company, including any
                                            member of the IMS Group, in respect of any obligations of an IMS Group Company.

 

		5.8	No
                                            IMS Group Company is a party to an IMS Material Contract which is not of an arm’s length
                                            nature to any material extent.

 

		5.9	There
                                            are no brokerage commissions, finder’s fees or similar fees or commissions payable
                                            by any IMS Group Company in connection with the Transactions (excluding for the avoidance
                                            of doubt legal and other professional advisory fees).

 

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		6.	Trading

 

		6.1	No
                                            customer or supplier of any IMS Group Company which accounted for ten per cent. (10%) or
                                            more by value of the IMS Group’s annual supply or sales, as the case may be, in the
                                            financial year ended 31 December 2020 has during the six (6) months immediately
                                            preceding the Signature Date ceased or substantially reduced its trading with or supplies
                                            to the IMS Group. No such customer or supplier has given written notice of its intention
                                            to terminate or substantially reduce its business with any IMS Group Company to such IMS
                                            Group Company.

 

		6.2	No
                                            IMS Group Company carries on business under any name other than its own corporate name.

 

		7.	Compliance
                                            with Laws

 

		7.1	Each
                                            IMS Group Company has, in the three (3) years immediately preceding the Signature Date,
                                            carried out its business in all material respects in compliance with all applicable laws
                                            and regulations in any relevant jurisdictions.

 

		7.2	Each
                                            IMS Group Company uses all personal data it holds, process or uses, including without limitation
                                            the customer information it receives through its website, or otherwise, in compliance in
                                            all material respects with applicable Law.

 

		7.3	Each
                                            IMS Group Company has security measures in place that are generally consistent with industry
                                            practices for similarly situated companies to protect the customer information it receives
                                            through its website, or otherwise, and which it stores in its computer systems to maintain
                                            the confidentiality and integrity of such customer information and to protect it from illegal
                                            use by third parties.

 

		7.4	No
                                            IMS Group Company has, in the last three (3) years, received any:

 

		(a)	written
                                            notice, request, correspondence or other written communication from any governmental or state
                                            agency, body, department, board, official or entity exercising regulatory or supervisory
                                            authority pursuant to any applicable data protection Laws, or been subject to any enforcement
                                            action (including any fines or other sanctions), in each case relating to a breach or alleged
                                            breach of their obligations under the applicable data protection Laws; or

 

		(b)	written
                                            claim, complaint, correspondence or other written communication from a data subject or any
                                            other person claiming a right to compensation under the applicable data protection Laws,
                                            or alleging any material breach of the applicable data protection Laws.

 

		8.	Anti-Bribery
                                            Laws

 

		8.1	No
                                            equity interests in any IMS Group Company were acquired using proceeds that were obtained
                                            in violation of any Anti-Bribery Law applicable to the IMS Group, and Aleph Cayman has no
                                            Knowledge of any claim, charge or allegation by or on behalf of any Governmental Authority
                                            that any equity interests in any IMS Group Company were acquired using proceeds that were,
                                            directly or indirectly, obtained from any action or activity in violation of any Anti-Bribery
                                            Law applicable to the IMS Group.

 

		8.2	No
                                            IMS Group Company has taken any action that caused any such IMS Group Company to violate
                                            any Anti-Bribery Law applicable to them.

 

		8.3	No
                                            IMS Group Company, nor, to the Knowledge of Aleph Cayman, any of their respective directors,
                                            officers, employees, agents or representatives, has, in connection with the Business, made
                                            or agreed to make any act corruptly in furtherance of an offer, payment, promise to pay,
                                            or authorization of the payment of any money, or offer, gift, promise to give, or authorization
                                            of the giving of anything of value to or releasing any liability of any Governmental Authority
                                            or Government Official for the purposes of unlawfully:

 

		(a)	influencing
                                            any act or decision of such Governmental Authority or Government Official in its or her official
                                            capacity;

 

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		(b)	inducing
                                            such Governmental Authority or Government Official to do or omit to do an act in violation
                                            of the lawful duty of such Governmental Authority or Government Official;

 

		(c)	securing
                                            any improper advantage;

 

		(d)	inducing
                                            such Governmental Authority or Government Official to use its or his/her influence with a
                                            Governmental Authority to affect or influence any act or decision of such Governmental Authority,
                                            in order to assist any IMS Group Company or its Connected Persons in obtaining or retaining
                                            business for or with, or directing business to, any person; or

 

		(e)	influencing
                                            any person, while knowing that all or a portion of such money or thing of value will be offered,
                                            given, or promised, directly or indirectly, to any Governmental Authority or Government Official
                                            for the purposes of influencing or inducing any act or decision of such Governmental Authority
                                            or Government Official, in its or his/her official capacity; or

 

		(f)	inducing
                                            such Governmental Authority or Government Official to do or omit to do any act in violation
                                            of the lawful duty of such Governmental Authority or Government Official.

 

		9.	Licences

 

		9.1	All
                                            IMS Licences have been obtained.

 

		9.2	Each
                                            IMS Licence is in full force and effect and, to the Knowledge of Aleph Cayman, there are
                                            no grounds for the suspension, cancellation, variation, revocation or termination of any
                                            IMS Licences.

 

		10.	Assets

 

		10.1	Save
                                            for assets that are leased or the subject of any hire purchase or rental agreement, all material
                                            assets used by any IMS Group Company for or in connection with the IMS Business which, in
                                            the reasonable opinion of Aleph Cayman, are required for the Business as it is currently
                                            conducted are legally and beneficially owned by an IMS Group Company (with good, valid and
                                            marketable title) and, are free from all Encumbrances, save for any IMS Permitted Encumbrances.

 

		10.2	All
                                            assets referred to in paragraph 10.1 are included in the IMS Locked-Box Accounts, except
                                            for any fixed asset or asset acquired, sold, realised or applied in the ordinary course of
                                            business since the IMS Locked-Box Date.

 

		10.3	Each
                                            asset referred to in paragraph 10.1 capable of possession is in the possession of an IMS
                                            Group Company.

 

		10.4	All
                                            assets referred to in paragraph 10.1 are used exclusively in connection with the IMS Business.

 

		10.5	No
                                            IMS Group Company owns (legally or beneficially) or leases any assets in any jurisdiction
                                            other than the jurisdictions included within the IMS Territory.

 

		10.6	No
                                            IMS Group Company has agreed to acquire any asset on terms that ownership of such asset does
                                            not pass until full payment is made, where payment is currently outstanding.

 

		11.	Debts
                                            Owed by IMS Group Companies

 

		11.1	A
                                            list is set out in Schedule 2 to the IMS Supplemental Disclosure Letter disclosing details
                                            of each overdraft, loan and other financial facility of each IMS Group Company.

 

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		11.2	The
                                            total amount of the borrowings of each IMS Group Company does not exceed any limitations
                                            on the borrowing powers set out in its articles of association, by-laws or equivalent constitutional
                                            documents.

 

		11.3	No
                                            demand or notice to repay has been received under, and, so to the Knowledge of Aleph Cayman,
                                            no event has occurred which is, or which will result in, an event of default, an early repayment
                                            or a breach of the terms of or under any borrowing or financial facility of any IMS Group
                                            Company.

 

		12.	Debts
                                            Owed to IMS Group Companies

 

		12.1	No
                                            IMS Group Company has lent any money which has not been repaid to it, and there are no debts
                                            owing to any IMS Group Company other than debts that have arisen in the ordinary course of
                                            business.

 

		12.2	None
                                            of the debts owing to any IMS Group Company as reflected in the IMS Locked-Box Accounts or
                                            any debts subsequently recorded in the books of any IMS Group Company have been outstanding
                                            (in whole or in part) for more than twelve (12) months from its due date for payment.

 

		12.3	No
                                            IMS Group Company has:

 

		(a)	factored
                                            or discounted any of its debts; or

 

		(b)	engaged
                                            in financing of a type which would not need to be shown or fully reflected in the IMS Locked-Box
                                            Accounts.

 

		13.	Grants
                                            and Allowances

 

No IMS Group Company has applied for
or received any grant, subsidy or allowance from any Governmental Authority or person in the twelve (12) months immediately preceding
the Signature Date, and no such grant, subsidy or allowance is pending as of the Signature Date.

 

		14.	Powers
                                            of Attorney

 

Except for powers of attorney contained
in other agreements as an incidental provision, no IMS Group Company has given any power of attorney or other express authority which
is still in force to any person to enter into any contract or commitment, or to act, on its behalf, other than to officers, directors
or employees to enter into contracts in the normal course of their duties.

 

		15.	Arrangements
                                            with Aleph Group, CVC, Akuma, Sony and Mercardo Libre (MELI)

 

		15.1	Save
                                            for the IMS Permitted Dividends, no indebtedness and no contract or arrangement is outstanding
                                            between any IMS Group Company and Aleph, CVC, Akuma, Sony or Mercardo Libre (MELI), other
                                            than on arm’s length commercial terms in the ordinary course of business.

 

		15.2	Save
                                            for the IMS Permitted Dividends, neither Aleph, CVC, Akuma, Sony or Mercardo Libre (MELI)
                                            is entitled to a claim of any nature against any IMS Group Company nor has it assigned to
                                            any person the benefit of any such claim.

 

		15.3	Complete
                                            and accurate copies of the CVC SPA and all agreements between: (a) CVC and its Related
                                            Parties on the one hand; and (b) any member of the Aleph Group and their respective
                                            Related Parties and/or any member of the IMS Group on the other hand with respect to the
                                            CVC Transaction have been disclosed to A15.

 

		16.	Litigation
                                            and Investigations

 

		16.1	No
                                            IMS Group Company is, or has been in the three (3) years immediately preceding the Signature
                                            Date, engaged in any material litigation, arbitration, mediation or other legal proceedings
                                            (whether as plaintiff, defendant or otherwise). To the Knowledge of Aleph Cayman, no such
                                            litigation, arbitration, mediation or other legal proceedings are pending or have been threatened
                                            in writing by or against an IMS Group Company and there are no circumstances likely to give
                                            rise to any such proceedings.

 

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		16.2	To
                                            the Knowledge of Aleph Cayman, no IMS Group Company is the subject of any investigation,
                                            enquiry or enforcement proceedings by any governmental or other body and there are no circumstances
                                            likely to give rise to any such proceedings.

 

		16.3	To
                                            the Knowledge of Aleph Cayman, no current or former director or employee of any IMS Group
                                            Company (in his or her capacity as such) is engaged in or subject to any of the matters referred
                                            to in paragraphs 16.1 and 16.2 for which any IMS Group Company may be liable.

 

		16.4	No
                                            IMS Group Company is affected to a material extent by any existing or pending judgments or
                                            rulings, orders or decrees of any court or governmental authority or any expert determination
                                            or arbitral award to which it is subject.

 

		17.	Insurance

 

		17.1	Complete
                                            and accurate copies of all material insurance policies maintained by each Aleph Cayman Company
                                            are contained in the IMS Data Room.

 

		17.2	All
                                            premiums due and payable in respect of each insurance policy referred to in paragraph 17.1
                                            have been paid and, to the Knowledge of Aleph Cayman, each policy is in full force and effect
                                            and to the Knowledge of A15 there are no circumstances that are reasonably likely to make
                                            any policy void.

 

		17.3	To
                                            the Knowledge of Aleph Cayman, no claims are outstanding under any insurance policy referred
                                            to in paragraph 17.1, and to the Knowledge of Aleph Cayman, no event has occurred which might
                                            give rise to any claim under such insurance policies in excess of US$100,000 (one hundred
                                            thousand US Dollars).

 

		17.4	During
                                            the three (3) years immediately preceding the Signature Date no individual claim has
                                            been made by any IMS Group Company under any insurance policy referred to in paragraph 17.1.

 

		18.	Insolvency

 

No IMS Group Company is insolvent or
unable to pay its debts under the insolvency laws of the jurisdiction of its incorporation nor has it stopped paying debts as they fall
due. No moratorium has been obtained nor any Order been made, petition presented or resolution passed for the winding-up or bankruptcy
of any IMS Group Company. No administrator, receiver, monitor, manager or equivalent officer has been appointed by any person in respect
of any IMS Group Company or all or any material part of its assets and, to the Knowledge of Aleph Cayman, no steps have been taken to
initiate any such appointment and no voluntary arrangement has been proposed relating to any IMS Group Company. No IMS Group Company
has become subject to any analogous proceedings, appointments or arrangements under the laws of any applicable jurisdiction.

 

		19.	Accounts

 

		19.1	Complete
                                            and accurate copies of the IMS Locked-Box Accounts are contained in the IMS Data Room.

 

		19.2	The
                                            IMS Locked-Box Accounts have been prepared in accordance with US GAAP.

 

		19.3	The
                                            IMS Locked-Box Accounts give a true and fair view of the assets, liabilities, financial position
                                            and profit or loss of each IMS Group Company and of the IMS Group as a whole as at the IMS
                                            Locked-Box Date.

 

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		19.4	No
                                            change has been made to the accounting policies or to any other accounting treatment of any
                                            IMS Group Company for at least two (2) years immediately preceding the IMS Locked-Box
                                            Date.

 

		19.5	Save
                                            as Disclosed in the IMS Locked-Box Accounts, the IMS Locked-Box Accounts were not affected
                                            in any material respect by any unusual or non-recurring item.

 

		19.6	The
                                            IMS Management Accounts fairly present in all material respects the assets, liabilities and
                                            financial position of each IMS Company as at the IMS Management Accounts Date.

 

		19.7	The
                                            IMS Management Accounts have been prepared on a basis consistent with the management accounts
                                            of each IMS Group Company prepared in the two (2) years immediately preceding the Signature
                                            Date.

 

		19.8	All
                                            financial and other records of the IMS Group Companies:

 

		(a)	have
                                            been properly prepared and maintained; and

 

		(b)	are
                                            in the possession of an IMS Group Company.

 

		20.	Events
                                            Since the IMS Locked-Box Date

 

		20.1	Since
                                            the IMS Locked-Box Date:

 

		(a)	the
                                            business of each IMS Group Company has been conducted in the ordinary course in all material
                                            respects and as a going concern;

 

		(b)	there
                                            has been no material adverse change in the financial or trading position of the IMS Group;

 

		(c)	no
                                            dividend or other distribution has been declared, made or paid by any IMS Group Company (save
                                            for any IMS Permitted Dividend);

 

		(d)	no
                                            IMS Group Company has issued or agreed to issue any share capital or loan capital or other
                                            similar interest;

 

		(e)	no
                                            asset of a value in excess of one million US Dollars (US$1,000,000) has been acquired or
                                            disposed of nor has there been any agreement to acquire or dispose of any such asset; and

 

		(f)	no
                                            liability (actual or contingent) has been incurred or has arisen which is in excess of US$2,000,000.

 

		21.	Taxation

 

For the purposes of this paragraph
20, the following expressions shall have the following meanings:

 

“Code” means the
U.S. Internal Revenue Code of 1986, as amended; and

 

“Treasury Regulations”
means the regulations promulgated by the United States Department of Treasury under and pursuant to the Code.

 

		21.1	All
                                            material liabilities of each IMS Group Company for Taxes as at the IMS Locked-Box Date are
                                            provided for in the IMS Locked-Box Accounts and all Tax for which each IMS Group Company
                                            is liable or is liable to account for has been duly paid (insofar as it ought to have been
                                            paid) and each IMS Group Company has made all material withholdings, deductions and retentions
                                            that it was legally required to make and has accounted in full to the appropriate authority
                                            for all amounts so withheld, deducted and retained.

 

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		21.2	Each
                                            IMS Group Company has maintained, in all material respects, all records in relation to Tax.

 

		21.3	No
                                            IMS Group Company has in the three (3) years immediately preceding the Signature Date
                                            been involved, or is involved in any dispute as at the Signature Date in relation to any
                                            Taxes with any Taxation Authority and to the Knowledge of Aleph Cayman there are no circumstances
                                            existing which make it likely that such a dispute will arise.

 

		21.4	All
                                            material returns to be submitted, all material information required to be supplied and all
                                            material notices and payments required to be made by each IMS Group Company in each case
                                            for the purposes of Taxation have been submitted, supplied or made in accordance with applicable
                                            Laws, in each case in all material respects.

 

		21.5	Neither
                                            Aleph Cayman nor any IMS Group Company has received written notice of any intention to re-open
                                            any closed assessments of any IMS Group Company or the IMS Business, as the case may be,
                                            for any Tax period in respect of which Tax Returns have been filed.

 

		21.6	No
                                            IMS Group Company has, within three (3) years immediately preceding the Signature Date,
                                            paid or become liable to pay any material tax deficiency, penalty, fine, surcharge or interest
                                            in connection with any Tax.

 

		21.7	The
                                            amount of Tax chargeable on each IMS Group Company during any accounting period ending on
                                            or within the three (3) years immediately preceding the Signature Date has not depended
                                            on any concessions, agreements or other formal or informal arrangements with any Taxation
                                            Authority.

 

		21.8	To
                                            the Knowledge of Aleph Cayman, no IMS Group Company has, within the three (3) years
                                            immediately preceding the Signature Date, been the subject of an investigation, audit or
                                            visit of a non-routine nature by or involving any Taxation Authority.

 

		21.9	To
                                            the Knowledge of Aleph Cayman, no IMS Group Company has been involved in any scheme, arrangement,
                                            transaction or series of transactions in which the main purpose or one of the main purposes
                                            was the evasion or avoidance of Tax.

 

		21.10	Each
                                            IMS Group Company is, to the extent that it is required to be registered, a registered person
                                            for the purposes of the relevant value added tax applicable in any relevant jurisdiction
                                            and has not within three (3) years immediately preceding the Signature Date been treated
                                            as a member of a group for such value added or turnover tax.

 

		21.11	Each
                                            IMS Group Company has complied in all material respects with all statutory provisions, rules,
                                            regulations, orders and directions concerning the relevant value added or turnover tax in
                                            any relevant jurisdiction.

 

		21.12	To
                                            the Knowledge of Aleph Cayman, all transactions or arrangements made by any IMS Group Company
                                            with a related person (under applicable law as it relates to transfer pricing or its equivalent
                                            in any jurisdiction) have been made on arm’s-length terms.

 

		21.13	All
                                            documents in the possession of an IMS Group Company or to the production of which an IMS
                                            Group Company is entitled and which attract stamp duty and which are necessary for any IMS
                                            Group Company in proving title or which an IMS Group Company may wish to rely upon for the
                                            purposes of any litigation in which an IMS Group Company is or is, to the Knowledge of Aleph
                                            Cayman, reasonably likely to be involved or in connection with any Tax matter have been properly
                                            stamped.

 

		21.14	To
                                            the Knowledge of Aleph Cayman, with respect to any period for which Tax Returns have not
                                            yet been filed, or for which Taxes are not yet due or owing, Aleph Cayman for itself and
                                            the other IMS Group Companies have each made accruals for such material Taxes in its books
                                            and records in accordance with applicable Law.

 

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		21.15	To
                                            the Knowledge of Aleph Cayman, no proceeding by any Governmental Authority is pending or
                                            threatened with respect to (a) any material Taxes due from or with respect to any IMS
                                            Group Company or (b) any material Tax Return filed by or with respect to any IMS Group
                                            Company or the IMS Business.

 

		21.16	To
                                            the Knowledge of Aleph Cayman, each IMS Group Company has withheld from its employees, independent
                                            contractors, creditors, stockholders and third parties material amounts in all respects as
                                            at the IMS Locked-Box Date to the extent required and in compliance (in all material respects)
                                            with all Tax withholding and remitting provisions of applicable Law.

 

		21.17	No
                                            IMS Group Company is treated for any taxation purpose as resident in a country other than
                                            the country of its incorporation, and to the Knowledge of Aleph Cayman no IMS Group Company
                                            has had at any time, a branch, agency or permanent establishment in a country other than
                                            the country of its incorporation.

 

		21.18	No
                                            IMS Group Company will be required to include any item of income in, or exclude any item
                                            of deduction from, taxable income for any taxable period (or portion thereof) beginning after
                                            the Completion Date as a result of any: (a) change in method of accounting (including
                                            any change in method of Tax accounting under Section 481(a) of the Code or any
                                            corresponding or similar provision of U.S. state or local or non-U.S. Law) for a taxable
                                            period ending on or prior to the Completion Date made or requested on or prior to the Completion
                                            Date; (b) use of an improper method of accounting for a taxable period ending on or
                                            prior to the Completion Date; (c) “closing agreement” as described in Section 7121
                                            of the Code (or any corresponding or similar provision of U.S. state or local or non-U.S.
                                            Law) executed on or prior to the Completion Date; (d) intercompany transactions entered
                                            into on or prior to the Completion Date or any excess loss account described in Treasury
                                            Regulations under Section 1502 of the Code (or any corresponding or similar provision
                                            of U.S. state or local or non-U.S. Law) existing at Completion; (e) installment sale
                                            or open transaction disposition made on or prior to the Completion Date; (f) deferred
                                            revenue or prepaid amount received on or prior to the Completion Date; or (g) election
                                            under Section 965 of the Code (or any corresponding or similar provision of U.S. state
                                            or local or non-U.S. Law) made on or prior to the Completion Date.

 

		21.19	No
                                            IMS Group Company has been a party to any “reportable transaction,” as defined
                                            in Section 6707A(c) of the Code and Treasury Regulation Section 1.6011-4(b).

 

		21.20	There
                                            is no Tax ruling, request for Tax ruling or settlement, compromise, closing or collection
                                            agreement with respect to Taxes in effect or pending with respect to any IMS Group Company.
                                            No IMS Group Company is party to, is bound by or has any obligation under any Tax sharing,
                                            Tax indemnity, Tax allocation or similar agreement, arrangement or practice with respect
                                            to Taxes.

 

		21.21	No
                                            IMS Group Company (a) is a member of an Affiliated Group (other than an Affiliated Group
                                            comprising solely of members of the IMS Group) or (b) has any liability for the Taxes
                                            of any person under Treasury Regulations Section 1.1502-6 (or any similar provision
                                            of U.S. state or local or non-U.S. Law), as a result of being a transferee, successor or
                                            member of an Affiliated Group (other than an Affiliated Group comprising solely of members
                                            of the IMS Group), by Contract, pursuant to applicable Law, or otherwise.

 

		21.22	Within
                                            the past five (5) years, no IMS Group Company has distributed stock of another person,
                                            and has not had its securities distributed by another person, in a transaction that was purported
                                            or intended to be governed in whole or in part by Section 355 or Section 361 of
                                            the Code.

 

		21.23	No
                                            IMS Group Company is or has ever been a “United States real property holding corporation”
                                            within the meaning of Section 897(c)(2) of the Code.

 

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		22.	Intellectual
                                            Property and Information Technology

                                                                                 

                                                                                Registered
                                            Intellectual Property

 

		22.1	A
                                            list of the IMS Registered Intellectual Property is contained in the IMS Data Room.

 

		22.2	All
                                            registration, renewal and other maintenance fees in respect of the IMS Registered Intellectual
                                            Property have been paid in full.

 

		22.3	No
                                            IMS Group Company has received any written notice that the IMS Registered Intellectual Property
                                            is being opposed, or that any third party is seeking its invalidation or revocation.

 

		22.4	All
                                            IMS Registered Intellectual Property is registered in the name of an IMS Group Company.

 

Business Intellectual Property

 

		22.5	All
                                            material IMS Business Intellectual Property used in the operation of any IMS Group Company
                                            is either owned by the IMS Group Company or is used by the IMS Group Company pursuant to
                                            a valid license.

 

		22.6	Each
                                            IMS Group Company has taken reasonable actions to protect its IMS Business Intellectual Property.

 

		22.7	To
                                            the Knowledge of Aleph Cayman, the use by any IMS Group Company of the Business Intellectual
                                            Property does not infringe the Intellectual Property of any third party in any material respect.

 

		22.8	No
                                            IMS Group Company has, in the three (3) years immediately preceding the Signature Date,
                                            issued any notice of any legal proceedings, claims or complaints against a third party regarding
                                            the infringement of the IMS Business Intellectual Property. To the Knowledge of Aleph Cayman,
                                            in the three (3) years immediately preceding the Signature Date, no third party has
                                            infringed the IMS Business Intellectual Property.

 

		22.9	A
                                            list of all IMS Incoming Licences is contained in the IMS Data Room.

 

		22.10	There
                                            are no IMS Outgoing Licences.

 

		22.11	No
                                            written notice alleging any breach or invalidity of any IMS Incoming Licence or any IMS Outgoing
                                            Licence has been sent or received by any IMS Group Company in the three (3) years immediately
                                            preceding the Signature Date.

 

		22.12	No
                                            employee or former employee of an IMS Group Company has any right to payment with respect
                                            to the use of, or any interest in any IMS Business Intellectual Property.

 

		22.13	With
                                            the exception of IMS Business Intellectual Property that is the subject of the Licences,
                                            (a) the IMS Business Intellectual Property has been developed by employees of an IMS Group
                                            Company acting in the course of their employment; or (b) all consultants, contractors,
                                            and/or employees who have developed or who have contributed to the development of any IMS
                                            Business Intellectual Property have assigned to an IMS Group Company pursuant to a valid,
                                            legally binding, written assignment, any right, title, and interest in such IMS Business
                                            Intellectual Property which did not automatically vest in an IMS Group Company by virtue
                                            of any relevant law.

 

IT Systems / IT Contracts

 

		22.14	A
                                            list of all material IMS IT Systems is contained in the IMS Data Room.

 

		22.15	A
                                            list of all material IMS IT Contracts is contained in the IMS Data Room.

 

		22.16	An
                                            IMS Group Company owns or has rights to use all material IMS Systems.

 

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		22.17	The
                                            IMS IT Systems comprises all rights to computer hardware (including network and telecommunications
                                            equipment) and software (including associated preparatory manuals and other related documentation)
                                            and related services, which, in the reasonable opinion of Aleph Cayman, are necessary to
                                            operate the business of the IMS Group Companies in the same manner and for the same purposes
                                            as the business of the IMS Group was operated in the 12 month period immediately prior to
                                            Completion.

 

		22.18	To
                                            the Knowledge of Aleph Cayman, (a) all the material IMS IT Contracts are valid and binding
                                            and (b) no written notice alleging any breach or invalidity of any IMS IT Contract has
                                            been sent or received by any IMS Group Company in the twelve (12) months immediately preceding
                                            the Signature Date.

 

Computer Operation and Maintenance

 

		22.19	To
                                            the Knowledge of Aleph Cayman, no material part of the IMS IT Systems has materially failed
                                            to function at any time during the two (2)  years immediately preceding the Signature
                                            Date.

 

		22.20	To
                                            the Knowledge of Aleph Cayman, in the last twelve (12) months no part of the IMS IT Systems
                                            has been infected by any virus or other extraneously induced malfunction which has had a
                                            material impact on the IMS Business, and no person has had unauthorized access to the IT
                                            Systems or any data stored thereon. Each Group Company operates a procedure aimed at avoiding
                                            such infections and unauthorized access.

 

		22.21	The
                                            IMS Group has taken steps which are aimed at ensuring that the IMS Business can continue
                                            in the event of a failure of the IMS IT Systems (whether due to natural disaster, power failure
                                            or otherwise).

 

		23.	Real
                                            Estate

 

		23.1	The
                                            IMS Properties comprise all the material land and buildings owned, controlled, occupied or
                                            used by any IMS Group Company or in which any IMS Group Company has any right, interest or
                                            liability.

 

		23.2	The
                                            information in respect of the IMS Properties contained in the IMS Data Room is accurate in
                                            all material respects.

 

		23.3	Each
                                            lease of the IMS Properties is: (a) in full force and effect; (b) no written notice
                                            alleging any breach or invalidity of any such lease has been sent or received by any IMS
                                            Group Company in the twelve (12) months immediately preceding the Signature Date; and (c) no
                                            written notice of termination of any such lease has been served or received by any IMS Group
                                            Company in the twelve (12) months immediately preceding the Signature Date.

 

		23.4	An
                                            IMS Group Company is in exclusive possession of the whole of each of the IMS Properties,
                                            and no other person is in or entitled to occupation of any of the IMS Properties.

 

		23.5	An
                                            IMS Group Company has in its possession and control all title deeds and documents to the
                                            IMS Owned Properties.

 

		23.6	There
                                            is no outstanding liability, including without limitation, for any rent, rates or taxes in
                                            respect of any of the IMS Properties. No rent reviews and/or rent adjustments under any leases
                                            of the IMS Properties are currently outstanding or in process.

 

		23.7	To
                                            the Knowledge of Aleph Cayman, no IMS Group Company is actually or contingently liable in
                                            any material respect in relation to any freehold or leasehold property (whether as owner
                                            or former owner or as tenant or former tenant of any such property or as an original contracting
                                            party, or guarantor of any party, to any deed, document, lease or licence connected therewith)
                                            other than the IMS Properties.

 

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		24.	Environmental
                                            Matters

 

		24.1	Each
                                            IMS Group Company is conducting, and has during the past three (3) years conducted,
                                            the IMS Business in compliance with Environmental Law in all material respects.

 

		24.2	No
                                            Environmental Proceedings are pending, nor have any been threatened in writing, against any
                                            IMS Group Company.

 

		25.	Employment;
                                            Labor Matters

 

		25.1	Details
                                            of all remuneration and other benefits which each IMS Group Company is bound to provide to
                                            each IMS Key Manager are contained in the IMS Data Room.

 

		25.2	Copies
                                            of standard template terms and conditions, staff handbooks and policies and the IMS Benefit
                                            Plans which apply to IMS Key Managers and IMS Key Workers are contained in the IMS Data Room.

 

		25.3	The
                                            terms of employment or engagement of all IMS Key Managers are such that their employment
                                            or engagement may be terminated by not more than three (3) months’ notice given
                                            at any time without liability for any payment, including by way of compensation or damages
                                            (except for any compensation under any applicable statutory regime in the relevant jurisdiction).

 

		25.4	Since
                                            the IMS Locked-Box Date, no IMS Group Company has made any announcement or proposal concerning
                                            any salaries of IMS Key Managers, with or without retroactive action that would have a material
                                            impact on the salaries or other benefits of IMS Key Managers.

 

		25.5	Since
                                            the IMS Locked-Box Date, no IMS Group Company has made a written offer of employment with
                                            an aggregate remuneration package of more than US$100,000 per annum (including all benefits
                                            and allowances).

 

		25.6	No
                                            IMS Key Manager has given or received written notice to terminate his employment or engagement
                                            with an IMS Group Company and, to the Knowledge of Aleph Cayman, there are no circumstances
                                            likely to give rise to such notice.

 

		25.7	No
                                            IMS Group Company is currently engaged or involved in any material dispute with any IMS Worker
                                            or any labour dispute involving any IMS Group Company which is material.

 

		25.8	To
                                            the extent relevant, materially complete and accurate details of each trade union, works
                                            council, whether national or cross-border, special negotiating body, staff association or
                                            other body recognized by any IMS Group Company for the purposes of representing any IMS Workers
                                            are contained in the IMS Data Room.

 

		25.9	Complete
                                            and accurate copies of all collective agreements and of any applicable information or consultation
                                            arrangement (whether legally binding or not) concerning any IMS Worker and any IMS Group
                                            Company are contained in folder “1.6.6 Employees” at “6.5” of the
                                            IMS Data Room, and in section “1.18.99” of the IMS Data Room.

 

		25.10	All
                                            salaries, wages and fees and other benefits of all IMS Workers have, to the extent due, been
                                            paid or discharged in full together with all related payments to third party benefit providers
                                            or relevant authorities.

 

		25.11	To
                                            the extent required by applicable Laws, each IMS Group Company has maintained records regarding
                                            the service of each IMS Worker (including details of the terms of employment, payments of
                                            statutory sick pay and maternity pay, disciplinary and grievance matters, health and safety
                                            matters, income tax and social security contributions, wage and time records) which are current,
                                            in each case in all material respects.

 

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		25.12	To
                                            the extent required by applicable Laws, each employee is lawfully employed by Aleph Cayman
                                            or the applicable Subsidiary Undertaking.

 

		25.13	All
                                            IMS Group Companies are in compliance with all the laws, decrees, and regulations that govern
                                            the employees’ matters, such as the labor laws, social insurance laws and health and
                                            safety laws.

 

		26.	Company
                                            Plans

 

For the purposes of this paragraph
26, the following expressions shall have the following meanings:

 

“IMS Disclosed Plans”
means the IMS Benefit Plans;

 

“IMS Worker” means
a current or former worker of the IMS Group; and

 

“Defined Contribution Plan”
means a plan that provides for an individual account for each participant and for Pension Benefits based solely on the amount contributed
to the participant’s account and any income, expenses, gains and losses and any forfeitures of accounts of other participants which
may be allocated to such participant’s account.

 

		26.1	A
                                            complete and accurate list of all IMS Disclosed Plans is contained in the IMS Data Room.

 

		26.2	Other
                                            than the IMS Disclosed Plans, there are no agreements, arrangements, obligations or commitments
                                            (whether funded or unfunded) under which any IMS Group Company is required to make payment
                                            of a contribution towards, or other provision for, Pension Benefits for the benefit of an
                                            IMS Worker or an IMS Worker’s dependents.

 

		26.3	The
                                            IMS Data Room contains complete and accurate copies of the following documents in relation
                                            to each IMS Disclosed Plan:

 

		(a)	the
                                            material governing documents;

 

		(b)	all
                                            policies of insurance currently in force;

 

		(c)	members’
                                            booklets currently in force and announcements to the relevant members made on the date the
                                            respective booklets were published;

 

		(d)	membership
                                            data and reasonable details of the rates and amounts of contributions payable by any IMS
                                            Group Company to the IMS Disclosed Plans; and

 

		(e)	in
                                            relation to any IMS Disclosed Plan which is not a Defined Contribution Plan, the reports
                                            of the most recently performed actuarial valuation of the IMS Disclosed Plan.

 

		26.4	To
                                            the Knowledge of Aleph Cayman, the IMS Disclosed Plans have been operated in all material
                                            respects in accordance with their governing documents and all applicable laws and regulatory
                                            requirements, including any applicable laws or regulatory requirements relating to the funding
                                            of Pension Benefits.

 

		26.5	To
                                            the Knowledge of Aleph Cayman, there are no material outstanding contributions, costs (including
                                            levies) or expenses payable by any IMS Group Company in respect of the IMS Disclosed Plans.

 

		26.6	To
                                            the Knowledge of Aleph Cayman, no claim has been made or threatened in writing in the twelve
                                            (12) months immediately preceding the Signature Date against any IMS Group Company or the
                                            trustees or administrators of any of the IMS Disclosed Plans, or against any person whom
                                            any IMS Group Company is or may be liable to indemnify or compensate, in connection with
                                            any of the IMS Disclosed Plans (other than routine claims for benefits).

 

		27.	Exchange
                                            Matters

 

To the Knowledge of Aleph Cayman, each
IMS Group Company has duly complied in all material respects with foreign exchange Laws, including compliance with all obligations arising
from currency imports and exports, external debt (assets and liabilities), international investment and clearing accounts.

 

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Schedule 14

 

Httpool Warranties

 

		1.	Incorporation,
                                            Capacity and Authority

 

		1.1	Httpool has
                                            been duly incorporated, and is validly existing, under the laws of England and Wales.

 

		1.2	Httpool
                                            has full power, authority and capacity to enter into, deliver and perform this Agreement
                                            and each other Transaction Document to which it is a party.

 

		1.3	The
                                            execution, delivery and performance by Httpool of this Agreement and the other Transaction
                                            Documents to which it is a party will not constitute a breach of (i) any Laws applicable
                                            to Httpool; (ii) the provisions of its articles of association, by-laws or equivalent
                                            constitutional documents; or (iii) any Orders against, or binding upon, Httpool.

 

		1.4	Except
                                            for the Pre-Completion Conditions and the processes referred to in Clause 6 (Pre-Completion
                                            Arrangements, including Schedule 4 (Pre-Completion Conditions) and Schedule 5 (Completion
                                            Arrangements)), so far as Httpool is aware, the execution, delivery and performance by
                                            Httpool of its obligations under this Agreement and the other Transaction Documents to which
                                            it is a party will not require it to obtain any consent or approval of, or give any notice
                                            to or make any registration or filing with, any Governmental Authority which has not been
                                            obtained or made at the Signature Date on a basis both unconditional and which cannot be
                                            revoked.

 

		1.5	This
                                            Agreement and each of the other Transaction Documents to which it is a party have been duly
                                            executed and delivered by Httpool, and this Agreement and each of the other Transaction Documents
                                            to which it is a party constitute the legal, valid and binding obligations of Httpool, enforceable
                                            against it in accordance with their terms, except as may be limited by bankruptcy or insolvency
                                            Laws or other similar Laws affecting creditors' rights in general.

 

		1.6	Httpool is not insolvent
                                            or unable to pay its debts under the insolvency laws of the jurisdiction of its incorporation,
                                            nor has it stopped paying debts as they fall due. No moratorium has been obtained nor any
                                            Order been made, petition presented or resolution passed for the winding-up or bankruptcy
                                            of Httpool. No administrator, receiver, monitor, manager or equivalent officer has been appointed
                                            by any person in respect of Httpool or all or any material part of its assets and, so far
                                            as Httpool is aware, no steps have been taken to initiate any such appointment and no voluntary
                                            arrangement has been proposed relating to Httpool. Httpool has not become subject to any
                                            analogous proceedings, appointments or arrangements under the laws of any applicable jurisdiction.

 

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Schedule 15

 

IMS and Aleph Cayman Limitations of Liability

 

		1.	Knowledge

 

		1.1	Neither
                                            IMS nor Aleph Cayman shall be liable in respect of an IMS Warranty Claim for breach of the
                                            IMS Warranties or the Aleph Cayman Warranties to the extent that the facts giving rise to
                                            such IMS Warranty Claim were:

 

		(a)	Disclosed;
                                            or

 

		(b)	otherwise
                                            known at the Signature Date by A15, or any member of the A15 Group.

 

		1.2	A15
                                            shall give notice to IMS or Aleph Cayman (as applicable) of the facts and matters that may
                                            give rise to a Claim as soon as reasonably practicable after it becomes aware of such facts
                                            and matters that may give rise to a Claim, and in any event, within twenty (20) Business
                                            Days after it becomes aware. Failure to give such notice shall not of itself prevent A15
                                            from bringing the relevant Claim, but neither IMS nor Aleph Cayman shall be liable to A15
                                            in respect of such Claim to the extent that the amount of it is increased or, as applicable,
                                            not reduced as a result of such failure.

 

		1.3	If
                                            the matter giving rise to a Claim (apart from in relation to an IMS Tax Claim) is capable
                                            of remedy, A15 shall only be entitled to damages if the matter is not remedied within forty-five
                                            (45) days after the date on which the notice referred to in paragraph 1.2 of this Schedule
                                            15 (IMS and Aleph Cayman Limitations of Liability) is served on IMS or Aleph Cayman
                                            (as applicable) at no cost, liability or loss to A15.

  

		2.	Limitations
                                            on Quantum

 

		2.1	The liability
                                            of IMS and Aleph Cayman in respect of any Claim:

 

		(a)	shall
                                            not arise unless and until the amount of such Claim, (together with all Claims arising out
                                            of the same set of circumstances) when substantiated, exceeds fifty thousand US Dollars (US$50,000),
                                            in which case A15 shall be entitled to claim the whole of such amount from the first US Dollar
                                            and not merely the excess; and

 

		(b)	shall
                                            not arise unless and until the amount of all Claims for which it would, in the absence of
                                            this provision be liable, when substantiated, exceeds five hundred thousand US Dollars (US$500,000),
                                            in which case A15 shall be entitled to claim the whole of such amount from the first US Dollar
                                            and not merely the excess.

 

		2.2	The aggregate
                                            liability of IMS and Aleph Cayman in respect of:

 

		(a)	all
                                            Claims under the IMS Warranties and the Aleph Cayman Warranties (other than the IMS Fundamental
                                            Warranties), and including all legal and other professional fees and expenses payable by
                                            IMS or Aleph Cayman (as applicable) in respect of all such Claims, shall not exceed an amount
                                            equal to US$3,516,889; and

 

		(b)	all
                                            Claims (including claims under the IMS Fundamental Warranties), and including all legal and
                                            other professional fees and expenses payable by IMS or Aleph Cayman (as applicable) in respect
                                            of all such Claims, shall not exceed an amount equal to the Consideration Shares Value.

 

		2.3	In
                                            respect of any breach of this Agreement, neither IMS nor Aleph Cayman shall be liable for
                                            any punitive, special, indirect or consequential loss or loss of profit or loss of goodwill
                                            or possible business, whether actual or prospective.

 

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		3.	Time
                                            Limits

 

		3.1	Neither
                                            IMS nor Aleph Cayman shall be liable in respect of any Claim unless written notice containing
                                            reasonable details (insofar as is known to A15) of such Claim (including as far as is reasonably
                                            practicable A15’s bona fide estimate of the amount of such Claim) is given by or on
                                            behalf of A15 to IMS or Aleph Cayman (as applicable):

 

		(a)	in
                                            the case of a Claim (other than a Claim under the IMS Fundamental Warranties, the IMS Tax
                                            Warranties or the IMS Tax Covenant), by no later than the date falling twenty-four (24) months
                                            after the Completion Date; and

 

		(b)	in
                                            the case of a Claim under the IMS Fundamental Warranties, the IMS Tax Warranties, or the
                                            IMS Tax Covenant by no later than the date falling six (6) years after the Completion
                                            Date,

 

provided that any such Claim shall
(if not previously satisfied, settled or withdrawn) be deemed to have been withdrawn and waived in full by A15 unless proceedings in
respect of it have been properly issued and validly served within nine (9) months of such written notice being given to IMS or Aleph
Cayman (as applicable), or in the case of a contingent liability, within nine (9) months of such contingent liability becoming an
actual liability.

 

		4.	Contingent
                                            Liability

 

Neither IMS nor Aleph Cayman shall
be liable for any Claim based upon a liability which is contingent unless and until such contingent liability becomes an actual liability
and is due and payable. For the avoidance of doubt, the fact that the liability may not have become an actual liability by the relevant
date provided in paragraph 3 of this Schedule 15 (IMS and Aleph Cayman Limitations of Liability) shall not exonerate IMS or Aleph
Cayman (as applicable) in respect of any Claim properly notified before that date, provided, however, that neither IMS nor Aleph
Cayman shall be liable for a Claim based upon a liability which is contingent only, unless such contingent liability gives rise to an
obligation to make a payment within twenty-four (24) months of the expiry of the applicable limitation period set out in paragraph 3
of this Schedule 15 (IMS and Aleph Cayman Limitations of Liability).

 

		5.	Retrospective
                                            Legislation

 

Neither IMS nor Aleph Cayman shall
be liable for any Claim (apart from in relation to an IMS Tax Claim) to the extent that the liability arises or is increased as a result
of any legislation not in force at the Signature Date.

 

		6.	Voluntary
                                            Acts or Omissions

 

Neither IMS nor Aleph Cayman shall
be liable for any Claim (apart from in relation to an IMS Tax Claim) to the extent that it arises or is increased directly as a result
of any voluntary act or omission of any member of the A15 Group: (a) prior to the Completion Date with the prior written consent
of, or at the written instruction of A15 or any member of the A15 Group; or (b) after the Completion Date except pursuant to a legally
binding obligation of IMS or Aleph Cayman (as applicable) or any member of the IMS Group entered into prior to Completion or in the ordinary
course of business.

 

		7.	Duty
                                            to Mitigate

 

A15 shall procure that all reasonable
steps are taken to avoid or mitigate any loss or damage which it may suffer as a result of a breach by IMS or Aleph Cayman of this Agreement
or as a result of any fact, matter, event or circumstance likely to give rise to a Claim (apart from in relation to an IMS Tax Claim).

 

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		8.	Loss
                                            Otherwise Compensated

 

		8.1	Neither IMS
                                            nor Aleph Cayman shall be liable for any Claim (apart from in relation to an IMS Tax Claim)
                                            to the extent that:

 

		(a)	the matter
                                            giving rise to such Claim has been made good or is otherwise compensated for without loss
                                            to A15; or

 

		(b)	the Claim
                                            is actually recovered under any insurance policy.

 

		8.2	In
                                            assessing a Claim (apart from in relation to an IMS Tax Claim), corresponding savings by,
                                            or net benefits to A15 shall in respect of the matter giving rise to the Claim be taken into
                                            account (apart from in relation to an IMS Tax Claim).

 

		9.	Recovery
                                            from Third Parties

 

Where IMS or Aleph Cayman has made
a payment to A15 in relation to any Claim (apart from in relation to an IMS Tax Claim) and A15 or any member of the A15 Group recovers
(whether by insurance, payment, discount, credit, relief or otherwise) from a third party a sum, which is referable to the matter giving
rise to the Claim or obtains any relief, saving or benefit which is so referable, A15 or the relevant member of the A15 Group shall pay
to IMS or Aleph Cayman (as applicable) as soon as practicable after receipt:

 

		(a)	an amount
                                            equal to the amount actually recovered from the third party (net of taxation and less any
                                            reasonable costs of recovery) or the value of the relief, saving or benefit obtained, calculated
                                            by reference to the amount saved (less any reasonable costs of recovery); or

 

		(b)	if
                                            the amount referred to in sub-paragraph (a) above exceeds the amount paid by IMS or
                                            Aleph Cayman (as applicable) to A15 or a member of the A15 Group in respect of the relevant
                                            Claim, such lesser amount as shall have been so paid by IMS or Aleph Cayman (as applicable).

 

		10.	No
                                            Double Recovery

 

A15 shall be entitled to make more
than one Claim arising out of the same subject matter, fact event or circumstances but shall not be entitled to recover damages or obtain
payment, reimbursement, restitution or indemnity more than once in respect of any one liability, loss, cost, shortfall, damage or deficiency
suffered by it, regardless of whether more than one Claim arises in respect of it, and for this purpose recovery by A15 against one of
Aleph Cayman or IMS shall be deemed to be recovery against each of them. .

 

		11.	Exclusion
                                            of Limitations

 

Nothing in this Schedule 15 (IMS
and Aleph Cayman Limitations of Liability) applies to a Claim that arises or is delayed as a result of fraud, wilful misconduct or
dishonesty by IMS or Aleph Cayman, any other member of the IMS Group, or any of their respective officers or employees.

 

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Schedule 16

 

IMS Tax Covenant

 

		1.	Interpretation

 

		1.1	The following
                                            definitions and rules of interpretation apply in this Schedule.

 

“Accounts Relief”
means any Relief (including the right to a repayment of Tax) shown as an asset in the IMS Locked-Box Accounts.

 

“Adjusted Proportion”
means:

 

		(a)	where
                                            a Liability for Tax, cost, expense, Relief, Overprovision or other liability or payment has
                                            been suffered by, incurred, received by or is available to Aleph Cayman, 100 per cent; and

 

		(b)	where
                                            a Liability for Tax, cost, expense, Relief, Overprovision or other liability or payment has
                                            been suffered by, incurred, received by or is available to any IMS Group Company other than
                                            Aleph Cayman, Aleph Cayman’s direct and indirect percentage of equity ownership in
                                            such IMS Group Company held by Aleph Cayman as at Completion.

 

“Buyer's Relief”
means:

 

		(a)	any Accounts
                                            Relief;

 

		(b)	any
                                            Relief arising in connection with any Event occurring in the ordinary course of an IMS Group
                                            Company’s business after the IMS Locked Box Date and before Completion;

 

		(c)	any Relief
                                            arising to an IMS Group Company in connection with any Event occurring after Completion;

 

		(d)	any
                                            Relief arising to a Connect Ads Group Company in connection with any Event occurring before
                                            the Connect Ads Locked Box Date;

 

		(e)	any
                                            Relief arising in connection with any Event occurring in the ordinary course of a Connect
                                            Ads Group Company’s business after the Connect Ads Locked Box Date and before Completion;

 

		(f)	any Relief
                                            arising to a Connect Ads Group Company in connection with any Event occurring after Completion;

 

		(g)	any
                                            Relief arising in connection with any Event occurring outside the ordinary course of a Connect
                                            Ads Group Company’s business after the Connect Ads Locked Box Date and before Completion;
                                            and

 

		(h)	any Relief,
                                            whenever arising, of any member of the Buyer’s Tax Group (excluding any Connect Ads
                                            Group Company).

 

“Buyer’s Tax Group”
means A15 and any other company or companies that are, from time to time, treated as members of the same group as, or otherwise connected
or associated in any way with A15 for any Tax purpose.

 

“Dispute” means
any dispute, appeal, negotiations or other proceedings in connection with a Tax Claim.

 

“Event” means an
event, transaction, action or omission whatsoever.

 

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“Group Relief” means
any Relief available between members of a group for Tax purposes.

 

“Liability for Tax”
means:

 

		(a)	any
                                            liability of an IMS Group Company to make an actual payment of, or in respect of, or on account
                                            of, Tax whether or not the same is primarily payable by the relevant IMS Group Company and
                                            whether or not the IMS Group Company has, or may have, any right of reimbursement against
                                            any other person, in which case the amount of the Liability for Tax will be the amount of
                                            the actual payment;

 

		(b)	the
                                            loss, otherwise than by use or setting off, of any Accounts Relief, in which case, the amount
                                            of the Liability for Tax will be the amount of Tax that would (on the basis of Tax rates
                                            current at the date of that loss) have been saved but for that loss, assuming for this purpose
                                            that the IMS Group Company had sufficient profits or was otherwise in a position to use the
                                            Relief, or where the Relief is the right to repayment of Tax or to a payment in respect of
                                            Tax, the amount of the repayment or payment; and

 

		(c)	the
                                            use or setting off of any Buyer's Relief where, but for that set off or use, the IMS Group
                                            Company would have had a liability to make a payment of or in respect of Tax for which A15
                                            would have been able to make a claim against Aleph Cayman under this Schedule, in which case,
                                            the amount of the Liability for Tax will be the amount of Tax for which Aleph Cayman would
                                            have been liable under this Schedule but for the setting off or use.

 

“Overprovision”
means the amount by which any provision for Tax in the IMS Locked-Box Accounts is overstated, except where that overstatement arises
due to:

 

		(a)	a change
                                            in law;

 

		(b)	a change
                                            in the accounting bases on which an IMS Group Company values its assets; or

 

		(c)	a voluntary
                                            act or omission of A15,

 

		(d)	that, in each case,
                                            occurs after Completion.

 

“Relevant Percentage” means:

 

		(a)	in
                                            respect of any Liability for Tax within the meaning of limbs (a) or (b) of the
                                            definition of Liability for Tax, the Consideration Shares Percentage multiplied by the Adjusted
                                            Proportion;

 

		(b)	in respect
                                            of any Liability for Tax within the meaning of limb (c) of the definition of Liability
                                            for Tax, 100%;

 

		(c)	in
                                            respect of costs and expenses (as described in paragraph 2.1(g)) incurred by an IMS Group
                                            Company, the Consideration Shares Percentage multiplied by the Adjusted Proportion;

 

		(d)	in
                                            respect of costs and expenses (as described in paragraph 2.1(g)) incurred by any member of
                                            the Buyer’s Tax Group (excluding any Connect Ads Group Company), 100%;

 

		(e)	in
                                            respect of any Buyer’s Relief (as the term is used in paragraph 4.2(g)) within limb
                                            (a), (b) or (c) of the definition of Buyer’s Relief, the Consideration Shares
                                            Percentage multiplied by the Adjusted Proportion;

 

		(f)	in respect
                                            of any Buyer’s Relief (as the term is used in paragraph 4.2(g)) within limb (d), (g) or
                                            (h) of the definition of Buyer’s Relief, 100%;

 

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		(g)	in
                                            respect of any Buyer’s Relief (as the term is used in paragraph 4.2(g)) within limb
                                            (e) or (f) of the definition of Buyer’s Relief, 14% plus the Consideration
                                            Shares Percentage; and

  

		(h)	in respect
                                            of any Overprovision or Saving, the Consideration Shares Percentage multiplied by the Adjusted
                                            Proportion.

 

“Saving” means any
Relief that has arisen as a result of or in connection with a Liability for Tax, or the Event which has given rise to such Liability
for Tax (including where a Liability for Tax has arisen because a deduction or other Relief assumed to be available in a period or part
period or periods on or prior to the Completion is in fact available only after Completion), and Aleph Cayman has made, or has a liability
to make, a payment to A15 in respect of such Liability for Tax pursuant to a Tax Claim.

 

“Tax Claim” means
any assessment, self-assessment, claim, notice, demand, letter or other document issued or action taken by or on behalf of any person
(including an IMS Group Company) or any Tax Authority from which it appears that an IMS Group Company or A15 is or may be subject to
a Liability for Tax or other liability for which Aleph Cayman is or may be liable under the IMS Tax Warranties or this Schedule.

 

“Tax Refund” means
a right to repayment of Tax or an actual repayment of Tax to which IMS Group Company becomes entitled or receives in relation to, in
connection with or in respect of:

 

		(a)	a period
                                            (or part period) on or before the IMS Locked Box Date;

 

		(b)	an Event
                                            occurring (or deemed to occur) on or before the IMS Locked Box Date;

 

		(c)	an
                                            Event occurring (or deemed to occur) outside the ordinary course of business of the IMS Group
                                            Company between the IMS Locked Box Date and Completion; or

 

		(d)	gross
                                            receipts, income, profits or gains earned, accrued or received outside the ordinary course
                                            of business of the IMS Group Company: (i) between the IMS Locked Box Date and Completion;
                                            or (ii) in respect of a period ending between the IMS Locked Box Date and Completion.

 

“Tax Statute” means
any directive, statute, enactment, law or regulation wherever enacted or issued, coming into force or entered into providing for or imposing
any Tax, including orders, regulations, instruments, bye-laws or other subordinate legislation made under the relevant statute or statutory
provision and any directive, statute, enactment, law, order, regulation or provision that amends, extends, consolidates or replaces the
same or that was amended, extended, consolidated or replaced by the same.

 

“True-Up Percentage”
means 100% divided by (100%) minus the Consideration Shares Percentage).

 

“VAT” means value
added tax or equivalent tax in any other jurisdiction.

 

		1.2	References
                                            to gross receipts, income, profits or gains earned, accrued or received shall include any
                                            gross receipts, income, profits or gains deemed under the relevant Tax Statute to have been,
                                            or treated or regarded as, earned, accrued or received.

 

		1.3	References to
                                            a repayment of Tax shall include any repayment supplement or interest in respect of it.

 

		1.4	Any
                                            reference to an Event occurring on or before a particular date shall include Events that
                                            for Tax purposes, are deemed to have, or are treated or regarded as having, occurred on or
                                            before that date.

 

		1.5	References to
                                            IMS Group Company shall exclude all Connect Ads Group Companies.

 

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		1.6	Any reference
                                            to something occurring in the ordinary course of business shall not include:

 

		(a)	anything
                                            that involves, or leads directly or indirectly to, any liability of an IMS Group Company
                                            to Tax that is (or but for an election would have been) the primary liability of, or properly
                                            attributable to, or due from another person (other than a member of the Buyer’s Tax
                                            Group);

 

		(b)	anything
                                            that relates to or involves the acquisition or disposal (or deemed acquisition or disposal)
                                            of an asset or the supply of services (including the lending of money, or the hiring or licensing
                                            of tangible or intangible property) in a transaction that is not entered into on arm's length
                                            terms;

 

		(c)	anything
                                            that relates to or involves the making of a distribution or deemed distribution for Tax purposes,
                                            the creation, cancellation or reorganization of share or loan capital, the creation, cancellation
                                            or repayment of any intra-group debt or an IMS Group Company becoming or ceasing to be, or
                                            being treated as ceasing to be, a member of a group of companies, or becoming or ceasing
                                            to be associated or connected with any other company for any Tax purposes;

 

		(d)	anything
                                            that relates to any scheme, transaction or arrangement that gives rise, or may give rise,
                                            to a Liability for Tax under any anti-avoidance legislation, that is designed partly or wholly
                                            (or contains steps or stages designed partly or wholly) to avoid, reduce or defer a Liability
                                            for Tax, or that gives rise to a duty to notify a Tax Authority under any legislation introduced
                                            to counter tax avoidance;

 

		(e)	anything
                                            that gives rise to a Liability for Tax on deemed (as opposed to actual) profits or if and
                                            to the extent that it gives rise to a Liability for Tax on an amount of profits greater than
                                            the difference between the sale proceeds of an asset and the amount attributable to that
                                            asset in the IMS Locked-Box Accounts or, in the case of an asset acquired since the IMS Locked
                                            Box Date, the cost of that asset;

 

		(f)	anything
                                            that involves, or leads directly or indirectly to, a change of residence of an IMS Group
                                            Company for Tax purposes; or

 

		(g)	any
                                            liability arising as a result of the failure to properly deduct or account for Tax, or to
                                            comply with the provisions of any Tax legislation or subordinate legislation (including regulations)
                                            and any act, omission or transaction that gives rise to any fine, penalty, surcharge, interest
                                            or other imposition relating to any Tax.

 

		1.7	References
                                            to the due date for payment of any Tax shall mean the last day on which that Tax may, by
                                            law, be paid without incurring any penalty, fine, surcharge, interest, charges, costs or
                                            other similar imposition (after taking into account any postponement of the date that was
                                            obtained for the payment of that Tax).

 

		1.8	References
                                            to “ordinary course” shall not include any IMS Acquisition or IMS Disposal.

 

		2.	Covenant

 

		2.1	Subject
                                            to the provisions of this Schedule and subject to Completion, Aleph Cayman covenants to pay
                                            to A15 an amount equal to the True-Up Percentage multiplied by the Relevant Percentage of
                                            any:

 

		(a)	Liability
                                            for Tax resulting from, or by reference to, any Event occurring on or before Completion or
                                            in respect of any gross receipts, income, profits or gains earned, accrued or received by
                                            an IMS Group Company on or before Completion;

 

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		(b)	Liability
                                            for Tax, including liability for payments in respect of Tax that arises solely due to the
                                            relationship for Tax purposes before Completion of an IMS Group Company with any person other
                                            than a member of the Buyer’s Tax Group;

 

		(c)	Liability
                                            for Tax that is a liability of an IMS Group Company to account for income tax or social security
                                            contributions, in respect of the grant, exercise, surrender, exchange or other disposal of
                                            an option or other right to acquire securities, where the acquisition of the security or
                                            the grant of the option, or other right to acquire the security occurred on or before Completion;

 

		(d)	Liability
                                            for Tax resulting from, by reference to, in relation to or in connection with the transfer
                                            the Swap Shares to Aleph Cayman in consideration for the allotment and issuance of further
                                            shares in Aleph Cayman;

 

		(e)	Liability
                                            for Tax in relation to, in connection with or arising from any restructuring of the IMS Group
                                            that was implemented, commenced or otherwise being carried out prior to Completion;

 

		(f)	Liability
                                            for Tax in relation to, in connection with or arising from the transactions contemplated
                                            by the CVC SPA; and

 

		(g)	any
                                            reasonable out-of-pocket costs and expenses reasonably incurred by a member of the Buyer’s
                                            Tax Group and/or an IMS Group Company to the extent that such costs and expenses were incurred
                                            directly in connection with, or would not have been so incurred but for:

 

		(i)	any Liability
                                            for Tax which gives rise to an obligation for Aleph Cayman to make a payment to A15 under
                                            this paragraph 2;

 

		(ii)	in satisfying
                                            or settling any Liability for Tax in respect of which a successful claim is made under this
                                            paragraph 2; or

 

		(iii)	in
                                            satisfying or settling any Liability for Tax in respect of which a successful claim would
                                            have been made under paragraph 2 of this Schedule but for any action taken by a member of
                                            the Buyer’s Tax Group and/or an IMS Group Company that results in Aleph Cayman no longer
                                            being liable under this paragraph 2.

 

		3.	Payment

 

		3.1	Payment
                                            by Aleph Cayman in respect of any liability under this Schedule must be made in cleared and
                                            immediately available funds on:

 

		(a)	in
                                            the case of a Liability for Tax that involves an actual payment of or in respect of Tax,
                                            the later of seven Business Days before the due date for payment and seven Business Days
                                            after the date on which A15 serves notice on Aleph Cayman requesting payment;

 

		(b)	in
                                            the case of the loss of a right to repayment of Tax or a liability under paragraph 2.1(d) seven
                                            Business Days following the date on which A15 serves notice on Aleph Cayman requesting payment;

 

		(c)	in
                                            a case that involves the loss of a Relief (other than a right to repayment of Tax), the later
                                            of seven Business Days after the date on which A15 serves notice on Aleph Cayman requesting
                                            payment and the last date on which the Tax is or would have been required to be paid to the
                                            relevant Tax Authority in respect of the earlier of:

 

		(i)	the period
                                            in which the loss of the Relief gives rise to an actual liability to pay Tax; or

 

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		(ii)	the
                                            period in which the loss of the Relief occurs (assuming for this purpose that the IMS Group
                                            Company had sufficient profits or was otherwise in a position to use the Relief).

 

		(d)	in
                                            a case that falls within paragraph (c) of the definition of Liability for Tax, the date
                                            on which the Tax saved by the IMS Group Company is or would have been required to be paid
                                            to the relevant Tax Authority.

 

		3.2	All
                                            payments made by Aleph Cayman to A15 in accordance with this Schedule will be treated, if
                                            possible, as an adjustment of consideration for the Swap Shares.

 

		4.	Exclusions

 

		4.1	The provisions
                                            of Schedule 15 (IMS and Aleph Cayman Limitations of Liability) of the SPA shall apply
                                            to this Schedule.

 

		4.2	The
                                            covenants contained in paragraph 2 above shall not cover any Liability for Tax or other liability
                                            (and neither IMS nor Aleph Cayman shall be liable for any breach under the IMS Tax Warranties)
                                            if and to the extent that:

 

		(a)	specific
                                            provision or reserve for the liability is made or reflected in the IMS Locked- Box Accounts;

 

		(b)	the liability
                                            was paid or discharged prior to the IMS Locked Box Date;

 

		(c)	the
                                            liability would not have arisen but for any Event which occurred in the ordinary course of
                                            business of an IMS Group Company after the IMS Locked Box Date and on or before Completion;

 

		(d)	the
                                            liability arises or is increased only as a result of any change in the law or rates of Tax
                                            (other than a change targeted specifically at countering a tax avoidance scheme) announced
                                            and coming into force after Completion, or the withdrawal of any extra- statutory concession
                                            previously made by a Tax Authority (whether or not the change is retrospective in whole or
                                            in part);

 

		(e)	the
                                            liability would not have arisen but for a change in accounting policies (including a change
                                            in accounting reference date) or the accounting bases on which an IMS Group Company values
                                            its assets (other than a change made to comply with generally accepted accounting principles)
                                            after Completion;

 

		(f)	recovery
                                            has already been made in respect of such liability by A15, any member of the Buyer’s
                                            Tax Group or any IMS Group Company under any provision of the SPA or any statutory or other
                                            right of recovery;

 

		(g)	a
                                            Relief, other than the Relevant Percentage of any Buyer’s Relief is available (or would
                                            have been so available had it not already been used to mitigate one or more Liabilities for
                                            Tax of any IMS Group Company which arose in relation to, in connection with or in respect
                                            of a period, an Event occurring or gross receipts, income, profits or gains earned, accrued
                                            or received: (i) on or after Completion; or (ii) in the ordinary course of the
                                            business of an IMS Group Company between after the IMS Locked Box Date and on or before Completion)
                                            to an IMS Group Company, such that any Relief that is so available in relation to more than
                                            one Liability for Tax or other liability shall be deemed, so far as possible, to be used
                                            in such a way as to reduce the maximum extent possible IMS and Aleph Cayman’s total
                                            liability under this Schedule; or

 

		(h)	the liability
                                            is IMS Permitted Leakage that does not constitute Connect Ads Permitted Leakage.

 

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		5.	Overprovisions

 

		5.1	If,
                                            on or before the date falling six months and seven years after Completion, an IMS Group Company’s
                                            auditors have been requested to determine (at the request and reasonable expense of Aleph
                                            Cayman (“IMS Overprovisions Costs”)) that there is an Overprovision and
                                            subsequently so determine (whether before or after the date falling six months and seven
                                            years after Completion), or if Aleph Cayman and A15 agree: (i) that there is an Overprovision;
                                            and (ii) the amount of such Overprovision, then:

 

		(a)	the
                                            Relevant Percentage of the amount of any Overprovision shall first be set off against any
                                            payment then due from Aleph Cayman under this Schedule;

 

		(b)	if
                                            there is an excess, a refund shall be made to Aleph Cayman of any previous payment or payments
                                            made by Aleph Cayman under this Schedule (and not previously refunded under this Schedule)
                                            up to the amount of that excess; and

 

		(c)	if the excess
                                            referred to in paragraph 5.1(b) is not exhausted, the remainder of that excess will
                                            be carried forward and set off against any future payment or payments that become due from
                                            Aleph Cayman under this Schedule,

 

		(d)	in
                                            each case, if such costs have been incurred, less the Consideration Shares Percentage of
                                            the relevant Aleph Cayman Overprovisions Costs.

 

		5.2	After
                                            an IMS Group Company’s auditors have made a determination under paragraph 5.1, or after
                                            Aleph Cayman and A15 have reached an agreement under paragraph 5.1, Aleph Cayman or A15 may
                                            at any time request the auditors for the time being of the relevant IMS Group Company to
                                            review and, if necessary and as appropriate, amend the original determination (at the expense
                                            of the party requesting the review, or where a payment becomes due under this paragraph 5.2,
                                            at the expense of the party required to make that payment) and an adjusting payment equal
                                            to the Relevant Percentage of the amount of any disparity between the original and revised
                                            determinations shall be made by or to Aleph Cayman as soon as reasonably practicable (the
                                            “Overprovisions Adjusting Payment”). In the event Aleph Cayman makes a
                                            request for a review under this paragraph 5.2, the amount of any Overprovisions Adjusting
                                            Payment A15 may be obliged to pay will be reduced by the Consideration Shares Percentage
                                            of the costs and expenses incurred by Aleph Cayman under this paragraph 5.2.

 

		6.	Savings

 

		6.1	If,
                                            on or before the date falling six months and seven years after Completion an IMS Group Company’s
                                            auditors have been requested to determine (at the request and reasonable expense of Aleph
                                            Cayman (“IMS Savings Costs”)) that a Saving has arisen or is available
                                            and subsequently actually so determine (whether before or after the date falling six months
                                            and seven years after Completion), or if Aleph Cayman and A15 agree: (i) that a Saving
                                            has arisen; and (ii) the amount of such Saving, then A15 shall, as soon as reasonably
                                            practicable, repay to Aleph Cayman, after deduction of any amounts then due by Aleph Cayman,
                                            the lesser of:

 

		(a)	the
                                            Relevant Percentage of the amount of any actual cash Tax benefit or saving that has arisen
                                            as a result of the Saving; and

 

		(b)	the
                                            amount paid by Aleph Cayman under paragraph 2 for the Liability for Tax which gave rise to
                                            the Saving less any part of that amount previously repaid to Aleph Cayman under any provision
                                            of this Schedule or otherwise,

 

		(c)	in
                                            each case, if such costs have been incurred, less the Consideration Shares Percentage of
                                            the relevant Aleph Cayman Savings Costs.

 

		6.2	After
                                            an IMS Group Company’s auditors have made a determination under paragraph 6.1, or after
                                            Aleph Cayman and A15 have reached an agreement under paragraph 6.1(b), A15 or Aleph Cayman
                                            may at any time request the auditors for the time being of the relevant IMS Group Company
                                            to review and, if necessary and as appropriate, amend the original determination (at the
                                            expense of the party requesting the review, or where a payment becomes due under this paragraph
                                            6.2, at the expense of the party required to make that payment) and an adjusting payment
                                            equal to the Relevant Percentage of the amount of any disparity between the original and
                                            revised determinations shall be made by or to A15 as soon as reasonably practicable (the
                                            “Savings Adjusting Payment”). In the event Aleph Cayman makes a request
                                            for a review under this paragraph 6.2, the amount of any Adjusting Payment A15 may be obliged
                                            to pay will be reduced by the Consideration Shares Percentage of the costs and expenses incurred
                                            by Aleph Cayman under this paragraph 6.2.

 

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		7.	Pre-Completion
                                            Tax Affairs

 

		7.1	Aleph Cayman
                                            shall have the conduct of all Tax affairs of all IMS Group Companies for:

 

		(a)	all accounting
                                            periods ended on or before Completion; and

 

		(b)	the
                                            part-accounting period commencing prior to and deemed to end before Completion (the “Pre-Completion
                                            Tax Affairs”).

 

		7.2	Aleph
                                            Cayman shall inform A15 of any intended submission of any material correspondence or other
                                            material document with respect to the Pre-Completion Tax Affairs to any Tax Authority within
                                            a reasonable period of time (and in any event not less than 15 Business Days prior to the
                                            date of intended submission) and, if requested by A15, promptly provide copies of drafts
                                            of such material correspondence or other material document to A15 for review.

 

		8.	Conduct
                                            of Tax Claims

 

		8.1	If
                                            Aleph Cayman or an IMS Group Company becomes aware of a Tax Claim, Aleph Cayman shall give
                                            or procure that notice in writing is given to A15 or to A15’s duly authorised agent
                                            as soon as reasonably practicable, provided that giving that notice shall not be a condition
                                            precedent to Aleph Cayman's liability under this Schedule.

 

		8.2	Aleph
                                            Cayman shall be entitled to avoid, dispute, defend, resist, appeal or request an internal
                                            Tax Authority review, or compromise any Tax Claim for and on behalf and in the name of any
                                            IMS Group Company, and shall keep A15 fully informed of and updated on all material matters
                                            pertaining to the Tax Claim.

 

		9.	Grossing
                                            up

 

		9.1	All
                                            amounts due by Aleph Cayman to A15 under this Schedule shall be paid in full, without any
                                            set-off, counterclaim, deduction or withholding (other than any deduction or withholding
                                            of tax required by law). If any deductions or withholdings are required by law to be made
                                            from any of the sums payable by Aleph Cayman to A15 under this Schedule, Aleph Cayman shall
                                            provide any evidence of the relevant withholding as A15 may reasonably require and shall
                                            pay to A15 the True-Up Percentage multiplied by any sum as will, after the deduction or withholding
                                            is made, leave A15 with the same amount as A15 would have been entitled to receive without
                                            that deduction or withholding.

 

		9.2	If
                                            any sum payable by Aleph Cayman under this Schedule is subject to Tax in the hands of A15,
                                            Aleph Cayman shall pay the True-Up Percentage multiplied by any additional amount required
                                            to ensure that the net amount received by A15 shall be the amount that A15 would have received
                                            if the payment was not subject to Tax.

 

		9.3	If
                                            a payee assigns the benefit of this Schedule, the payer shall not be liable under paragraph
                                            9.1 or paragraph 9.2, except if to the extent that the payer would have been so liable had
                                            that assignment not occurred.

   

		9.4	If
                                            a payer makes an increased payment pursuant to paragraphs 9.1 and/or 9.2 in respect of which
                                            the payee or any member of the same group or fiscal unity of the payee for Tax purposes receives
                                            or is granted any credit against, relief for or repayment of any Tax payable by it or other
                                            Relief which it would not otherwise have been granted, the payee shall reimburse the payer
                                            such amount as shall leave the payee in no better or worse position than it would have been
                                            in had there been no such deduction, withholding or Taxation on receipt. The payee shall
                                            promptly notify the payer of any such credit, relief, repayment or other Relief which it
                                            receives and such reimbursement shall be made no later than ten Business Days after the payee
                                            receives or is granted such credit, relief or repayment. The payee or the relevant member
                                            of the payee’s group or fiscal unity for Tax purposes shall use reasonable endeavours
                                            to obtain and utilize any such credit, relief or repayment to which it is or may become entitled.

 

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Schedule 17

 

Connect Ads
Tax Covenant

 

		1.	Interpretation

 

		1.1	The
                                            following definitions and rules of interpretation apply in this Schedule.

 

“Accounts
Relief” means any Relief (including the right to a repayment of Tax) shown as an asset in the Connect Ads Locked-Box Accounts.

 

“Adjusted
Proportion” means:

 

		(a)	where
                                            a Liability for Tax, cost, expense, Relief, Overprovision, Saving, Tax Refund or other liability
                                            or payment has been suffered by, incurred, received by or is available to Connect Ads, 100%;

 

		(b)	where
                                            a Liability for Tax, cost, expense, Relief, Overprovision, Saving, Tax Refund or other liability
                                            or payment has been suffered by, incurred, received by or is available to any Connect Ads
                                            Group Company other than Connect Ads, Connect Ads’ direct and indirect percentage of
                                            equity ownership in such Connect Ads Group Company held by Connect Ads as at Completion;
                                            and

 

		(c)	where
                                            an amount has been recovered by Httpool, IMS or Aleph Cayman as described in paragraph
                                            7.2, 100%.

 

“Buyer's
Relief” means:

 

		(a)	any
                                            Accounts Relief;

 

		(b)	any
                                            Relief arising in connection with any Event occurring in the ordinary course of a Connect
                                            Ads Group Company’s business after the Connect Ads Locked Box Date;

 

		(c)	any
                                            Relief arising to a Connect Ads Group Company in connection with any Event occurring after
                                            Completion; and

 

		(d)	any
                                            Relief, whenever arising, of any member of the Buyer’s Tax Group (excluding any Connect
                                            Ads Group Company).

 

“Buyer’s
Tax Group” means Httpool or Aleph Cayman (as the case may be) and any other company or companies that are, from time to time,
treated as members of the same group as, or otherwise connected or associated in any way with Httpool or Aleph Cayman (as the case may
be) for any Tax purpose.

 

“Dispute”
means any dispute, appeal, negotiations or other proceedings in connection with a Tax Claim.

 

“Event”
means an event, transaction, action or omission whatsoever.

 

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“Group
Relief” means any Relief available between members of a group for Tax purposes.

 

“Liability
for Tax” means:

 

		(a)	any
                                            liability of a Connect Ads Group Company to make an actual payment of, or in respect of,
                                            or on account of, Tax whether or not the same is primarily payable by the relevant Connect
                                            Ads Group Company and whether or not the Connect Ads Group Company has, or may have, any
                                            right of reimbursement against any other person, in which case the amount of the Liability
                                            for Tax will be the amount of the actual payment;

 

		(b)	the
                                            loss, otherwise than by use or setting off, of any Accounts Relief, in which case, the amount
                                            of the Liability for Tax will be the amount of Tax that would (on the basis of Tax rates
                                            current at the date of that loss) have been saved but for that loss, assuming for this purpose
                                            that the Connect Ads Group Company had sufficient profits or was otherwise in a position
                                            to use the Relief, or where the Relief is the right to repayment of Tax or to a payment in
                                            respect of Tax, the amount of the repayment or payment; and

 

		(c)	the
                                            use or setting off of any Buyer's Relief where, but for that set off or use, the Connect
                                            Ads Group Company would have had a liability to make a payment of or in respect of Tax for
                                            which Httpool and Aleph Cayman would have been able to make a claim against A15 under this
                                            Schedule, in which case, the amount of the Liability for Tax will be the amount of Tax for
                                            which A15 would have been liable under this Schedule but for the setting off or use.

 

“Overprovision”
means the amount by which any provision for Tax in the Connect Ads Locked-Box Accounts is overstated, except where that overstatement
arises due to:

 

		(a)	a
                                            change in law;

 

		(b)	a
                                            change in the accounting bases on which a Connect Ads Group Company values its assets,

 

that,
in each case, occurs after Completion.

 

“Relevant
Percentage” means:

 

		(a)	in
                                            respect of Httpool and:

 

		(i)	in
                                            respect of any Liability for Tax within the meaning of limbs (a) or (b) of the
                                            definition of Liability for Tax, 51% multiplied by the Adjusted Proportion;

 

		(ii)	in
                                            respect of any Liability for Tax within the meaning of limb (c) of the definition of
                                            Liability for Tax, 100%;

 

		(iii)	in
                                            respect of costs and expenses (as described in paragraph 2.1(d)) incurred by Httpool, 100%;

 

		(iv)	in
                                            respect of costs and expenses (as described in paragraph 2.1(d)) incurred by a Connect Ads
                                            Group Company, 51%) multiplied by the Adjusted Proportion;

 

		(v)	in
                                            respect of any Buyer’s Relief (as the term is used in paragraph 4.2(g)) within limb
                                            (a), (b) or (c) of the definition of Buyer’s Relief, 51%) multiplied by the
                                            Adjusted Proportion;

 

		(vi)	in
                                            respect of any Buyer’s Relief (as the term is used in paragraph 4.2(g)) within limb
                                            (d) of the definition of Buyer’s Relief and only where such Buyer’s Relief
                                            has arisen to a member of the Httpool Group, 100%;

 

		(b)	in
                                            respect of Aleph Cayman and:

 

		(i)	in
                                            respect of any Liability for Tax within the meaning of limbs (a) or (b) of the
                                            definition of Liability for Tax, 35% multiplied by the Adjusted Proportion;

 

		(ii)	in
                                            respect of any Liability for Tax within the meaning of limb (c) of the definition of
                                            Liability for Tax, 100%);

 

		(iii)	in
                                            respect of costs and expenses (as described in paragraph 2.1(d)) incurred by Aleph Cayman,
                                            100%;

 

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		(iv)	in
                                            respect of costs and expenses (as described in paragraph 2.1(d)) incurred by a Connect Ads
                                            Group Company, 35% multiplied by the Adjusted Proportion;

 

		(v)	in
                                            respect of any Buyer’s Relief (as the term is used in paragraph 4.2(g)) within limb
                                            (a), (b) or (c) of the definition of Buyer’s Relief, 35% multiplied by the
                                            Adjusted Proportion;

 

		(vi)	in
                                            respect of any Buyer’s Relief (as the term is used in paragraph 4.2(g)) within limb
                                            (d) of the definition of Buyer’s Relief and only where such Buyer’s Relief
                                            has arisen to a member of the IMS Group, 100%;

 

		(c)	in
                                            respect of any Overprovision, Saving, Tax Refund or amount recovered as described in paragraph
                                            7.2, 86% multiplied by the Adjusted Proportion; and

 

		(d)	in
                                            respect of any liability or increased liability to Tax (as described in paragraph 11.1),
                                            100%.

 

“Saving”
means any Relief that has arisen as a result of or in connection with a Liability for Tax, or the Event which has given rise to such
Liability for Tax (including where a Liability for Tax has arisen because a deduction or other Relief assumed to be available in a period
or part period or periods on or prior to the Completion is in fact available only after Completion), and A15 has made, or has a liability
to make, a payment to Httpool and Aleph Cayman in respect of such Liability for Tax pursuant to a Tax Claim.

 

“Tax
Claim” means any assessment, self-assessment, claim, notice, demand, letter or other document issued or action taken by or
on behalf of any person (including a Connect Ads Group Company) or any Tax Authority from which it appears that a Connect Ads Group Company,
Httpool and Aleph Cayman is or may be subject to a Liability for Tax or other liability for which A15 is or may be liable under the A15
Tax Warranties or this Schedule.

 

“Tax
Refund” means a right to repayment of Tax or an actual repayment of Tax to which a Connect Ads Group Company becomes entitled
or receives in relation to, in connection with or in respect of:

 

		(a)	a
                                            period (or part period) on or before the Connect Ads Locked Box Date;

 

		(b)	an
                                            Event occurring (or deemed to occur) on or before the Connect Ads Locked Box Date;

 

		(c)	an
                                            Event occurring (or deemed to occur) outside the ordinary course of business of the Connect
                                            Ads Group Company between the Connect Ads Locked Box Date and Completion; or

 

		(d)	gross
                                            receipts, income, profits or gains earned, accrued or received outside the ordinary course
                                            of business of the Connect Ads Group Company: (i) between the Connect Ads Locked Box
                                            Date and Completion; or (ii) in respect of a period ending between the Connect Ads Locked
                                            Box Date and Completion.

 

“Tax
Statute” means any directive, statute, enactment, law or regulation wherever enacted or issued, coming into force or entered
into providing for or imposing any Tax, including orders, regulations, instruments, bye-laws or other subordinate legislation made under
the relevant statute or statutory provision and any directive, statute, enactment, law, order, regulation or provision that amends, extends,
consolidates or replaces the same or that was amended, extended, consolidated or replaced by the same.

 

“VAT”
means value added tax or equivalent tax in any other jurisdiction.

 

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		1.2	References
                                            to gross receipts, income, profits or gains earned, accrued or received shall include any
                                            gross receipts, income, profits or gains deemed under the relevant Tax Statute to have been,
                                            or treated or regarded as, earned, accrued or received.

 

		1.3	References
                                            to a repayment of Tax shall include any repayment supplement or interest in respect of it.

 

		1.4	Any
                                            reference to an Event occurring on or before a particular date shall include Events that
                                            for Tax purposes, are deemed to have, or are treated or regarded as having, occurred on or
                                            before that date.

 

		1.5	References
                                            to Connect Ads Group Company shall include Genart Medya Reklamcilik Iletisim Ticaret Limited
                                            Sirketi.

 

		1.6	Any
                                            reference to something occurring in the ordinary course of business shall not include:

 

		(a)	anything
                                            that involves, or leads directly or indirectly to, any liability of a Connect Ads Group Company
                                            to Tax that is (or but for an election would have been) the primary liability of, or properly
                                            attributable to, or due from another person (other than a member of the Buyer’s Tax
                                            Group);

 

		(b)	anything
                                            that relates to or involves the acquisition or disposal (or deemed acquisition or disposal)
                                            of an asset or the supply of services (including the lending of money, or the hiring or licensing
                                            of tangible or intangible property) in a transaction that is not entered into on arm's length
                                            terms;

 

		(c)	anything
                                            that relates to or involves the making of a distribution or deemed distribution for Tax purposes,
                                            the creation, cancellation or reorganization of share or loan capital, the creation, cancellation
                                            or repayment of any intra-group debt or a Connect Ads Group Company becoming or ceasing to
                                            be, or being treated as ceasing to be, a member of a group of companies, or becoming or ceasing
                                            to be associated or connected with any other company for any Tax purposes;

 

		(d)	anything
                                            that relates to any scheme, transaction or arrangement that gives rise, or may give rise,
                                            to a Liability for Tax under any anti-avoidance legislation, that is designed partly or wholly
                                            (or contains steps or stages designed partly or wholly) to avoid, reduce or defer a Liability
                                            for Tax, or that gives rise to a duty to notify a Tax Authority under any legislation introduced
                                            to counter tax avoidance;

 

		(e)	anything
                                            that gives rise to a Liability for Tax on deemed (as opposed to actual) profits or if and
                                            to the extent that it gives rise to a Liability for Tax on an amount of profits greater than
                                            the difference between the sale proceeds of an asset and the amount attributable to that
                                            asset in the Connect Ads Locked-Box Accounts or, in the case of an asset acquired since the
                                            Connect Ads Locked Box Date, the cost of that asset;

 

		(f)	anything
                                            that involves, or leads directly or indirectly to, a change of residence of a Connect Ads
                                            Group Company for Tax purposes; or

 

		(g)	any
                                            liability arising as a result of the failure to properly deduct or account for Tax, or to
                                            comply with the provisions of any Tax legislation or subordinate legislation (including regulations)
                                            and any act, omission or transaction that gives rise to any fine, penalty, surcharge, interest
                                            or other imposition relating to any Tax.

 

		1.7	References
                                            to the due date for payment of any Tax shall mean the last day on which that Tax may, by
                                            law, be paid without incurring any penalty, fine, surcharge, interest, charges, costs or
                                            other similar imposition (after taking into account any postponement of the date that was
                                            obtained for the payment of that Tax).

 

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		2.	Covenant

 

		2.1	Subject
                                            to the provisions of this Schedule and subject to Completion, A15 covenants to pay to each
                                            of Httpool and Aleph Cayman an amount equal to the Relevant Percentage of any:

 

		(a)	Liability
                                            for Tax resulting from, or by reference to, any Event occurring on or before Completion or
                                            in respect of any gross receipts, income, profits or gains earned, accrued or received by
                                            a Connect Ads Group Company on or before Completion;

 

		(b)	Liability
                                            for Tax, including liability for payments in respect of Tax that arises solely due to the
                                            relationship for Tax purposes before Completion of a Connect Ads Group Company with any person
                                            other than a member of the Buyer’s Tax Group;

 

		(c)	Liability
                                            for Tax that is a liability of a Connect Ads Group Company to account for income tax or social
                                            security contributions, in respect of the grant, exercise, surrender, exchange or other disposal
                                            of an option or other right to acquire securities, where the acquisition of the security
                                            or the grant of the option, or other right to acquire the security occurred on or before
                                            Completion; and

 

		(d)	any
                                            reasonable out-of-pocket costs and expenses reasonably incurred by Httpool and/or Aleph Cayman
                                            (as the case may be) and/or a Connect Ads Group Company to the extent that such costs and
                                            expenses were incurred directly in connection with, or would not have been so incurred but
                                            for:

 

		(i)	any
                                            Liability for Tax which gives rise to an obligation for A15 to make a payment to Httpool
                                            and Aleph Cayman under this paragraph 2;

 

		(ii)	in
                                            satisfying or settling any Liability for Tax in respect of which a successful claim is made
                                            under this paragraph 2; or

 

		(iii)	in
                                            satisfying or settling any Liability for Tax in respect of which a successful claim would
                                            have been made under paragraph 2 of this Schedule but for any action taken by a member of
                                            the Buyer’s Tax Group and/or a Connect Ads Group Company that results in A15 no longer
                                            being liable under this paragraph 2.

 

		3.	Payment

 

		3.1	Payment
                                            by A15 in respect of any liability under this Schedule must be made in cleared and immediately
                                            available funds on:

 

		(a)	in
                                            the case of a Liability for Tax that involves an actual payment of or in respect of Tax,
                                            the later of seven Business Days before the due date for payment and seven Business Days
                                            after the date on which Httpool serves notice on A15 requesting payment;

 

		(i)	in
                                            the case of the loss of a right to repayment of Tax or a liability under paragraph 2.1(d) seven
                                            Business Days following the date on which Httpool serves notice on A15 requesting payment;

 

		(ii)	in
                                            a case that involves the loss of a Relief (other than a right to repayment of Tax), the later
                                            of seven Business Days after the date on which Httpool serves notice on A15 requesting payment
                                            and the last date on which the Tax is or would have been required to be paid to the relevant
                                            Tax Authority in respect of the earlier of:

 

		(iii)	the
                                            period in which the loss of the Relief gives rise to an actual liability to pay Tax; or

 

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		(iv)	the
                                            period in which the loss of the Relief occurs (assuming for this purpose that the Connect
                                            Ads Group Company had sufficient profits or was otherwise in a position to use the Relief).

 

		(b)	in
                                            a case that falls within paragraph (c) of the definition of Liability for Tax, the date
                                            on which the Tax saved by the Connect Ads Group Company is or would have been required to
                                            be paid to the relevant Tax Authority.

 

		3.2	All
                                            payments made by A15 to Httpool or Aleph Cayman in accordance with this Schedule will be
                                            treated, if possible, as an adjustment, reduction or repayment of consideration for the Sale
                                            Shares or the Swap Shares (as applicable).

 

		3.3	No
                                            amounts shall be payable by A15 in accordance with this Schedule to the extent that any such
                                            amount cannot be treated as an adjustment, reduction or repayment of the consideration for
                                            the Sale Shares or the Swap Shares (as applicable) pursuant to paragraph 3.2.

 

		3.4	Httpool,
                                            Aleph Cayman and A15 hereby agree that, to the extent that any payment that otherwise would
                                            have been made by A15 in accordance with this Schedule is not made because of paragraph 3.3,
                                            A15 shall satisfy any liability to make any such payment that otherwise would have been made
                                            by subscribing for a single fully paid up deferred share in Connect Ads for a nominal amount
                                            together with the share premium thereon equal to the amount of that liability.

 

		3.5	Httpool
                                            and Aleph Cayman agree to procure that Connect Ads creates the class of shares to be the
                                            deferred shares described in paragraph 3.4 and issues to A15 such number of deferred shares
                                            as may be required under this paragraph 3.

 

		3.6	If
                                            Connect Ads issues any deferred shares under paragraph 3.4 then Httpool shall have the option
                                            to acquire all or any of those deferred shares from Connect Ads for a consideration of £1.

 

		4.	Exclusions

 

		4.1	The
                                            provisions of Schedule 11 (A15 Limitations of Liability) of the SPA shall apply to
                                            this Schedule.

 

		4.2	The
                                            covenants contained in paragraph 2 above shall not cover any Liability for Tax or other liability
                                            (and A15 shall not be liable for any breach under the A15 Tax Warranties) if and to the extent
                                            that:

 

		(a)	the
                                            liability is in relation to, in connection with or arises as a result of any restructuring
                                            of the IMS Group implemented, commenced or otherwise being carried out prior to Completion;

 

		(b)	specific
                                            provision or reserve for the liability is made or reflected in the Connect Ads Locked-Box
                                            Accounts;

 

		(c)	the
                                            liability was paid or discharged prior to the Connect Ads Locked Box Date;

 

		(d)	the
                                            liability was paid to or discharged with the Egyptian Tax Authorities in the period from
                                            the Locked Box Date to Completion and where such payment has been included, specified as
                                            a deduction or otherwise taken into account in setting either the Sale Shares Consideration
                                            or Swap Shares Consideration;

 

		(e)	the
                                            liability would not have arisen but for any Event which occurred in the ordinary course of
                                            business of a Connect Ads Group Company after the Connect Ads Locked Box Date and on or before
                                            Completion;

 

		(f)	the
                                            liability arises or is increased only as a result of any change in the law or rates of Tax
                                            (other than a change targeted specifically at countering a tax avoidance scheme) announced
                                            and coming into force after Completion, or the withdrawal of any extra-statutory concession
                                            previously made by a Tax Authority (whether or not the change is retrospective in whole or
                                            in part);

 

    177

     

    

  

		(g)	the
                                            liability would not have arisen but for a change in accounting policies (including a change
                                            in accounting reference date) or the accounting bases on which a Connect Ads Group Company
                                            values its assets (other than a change made to comply with generally accepted accounting
                                            principles) after Completion;

 

		(h)	the
                                            liability is Connect Ads Permitted Leakage;

 

		(i)	recovery
                                            has already been made in respect of such liability by Httpool, IMS, Aleph Cayman or
                                            any member of the Buyer’s Tax Group or any Connect Ads Group Company under any provision
                                            of the SPA or any statutory or other right of recovery;

 

		(j)	a
                                            Relief, other than the Relevant Percentage of any Buyer's Relief is available (or would have
                                            been so available had it not already been used to mitigate one or more Liabilities for Tax
                                            of any Connect Ads Group Company which arose in relation to, in connection with or in respect
                                            of a period, an Event occurring or gross receipts, income, profits or gains earned, accrued
                                            or received: (i) on or after Completion; or (ii) in the ordinary course of the
                                            business of a Connect Ads Group Company between after the Connect Ads Locked Box Date and
                                            on or before Completion) to a Connect Ads Group Company, such that any Relief that is so
                                            available in relation to more than one Liability for Tax or other liability shall be deemed,
                                            so far as possible, to be used in such a way as to reduce the maximum extent possible A15’s
                                            total liability under this Schedule;

 

		(k)	the
                                            liability would not have arisen but for a voluntary act, transaction or omission of a Connect
                                            Ads Group Company, Httpool, IMS, Aleph Cayman or any member of the Buyer’s Tax
                                            Group and which Httpool, IMS, Aleph Cayman or a Connect Ads Group Company was aware,
                                            or ought reasonably to have been aware, would give rise to the Liability for Tax or other
                                            liability in question;

 

		(l)	the
                                            liability arises or is increased in relation to, as a result of or in connection with the
                                            transfer the Swap Shares to Httpool in consideration for the allotment and issuance of further
                                            shares in Httpool; or

 

		(m)	the
                                            liability is in relation to, in connection with or arises as a result of the transactions
                                            contemplated by the CVC SPA.

 

		4.3	For
                                            the purposes of paragraph 4.2(k), an act will not be regarded as voluntary if undertaken
                                            under a legally binding obligation entered into by a Connect Ads Group Company on or before
                                            Completion or imposed on a Connect Ads Group Company by any legislation whether coming into
                                            force before, on or after Completion, or to avoid or mitigate a penalty imposable by any
                                            legislation, or if carried out at the written request of A15.

 

		5.	Overprovisions

 

		5.1	If,
                                            on or before the date falling six months and seven years after Completion:

 

		(a)	Httpool
                                            believes that there is an Overprovision, Httpool shall notify A15 promptly in writing; or

 

		(b)	the
                                            auditors for the time being of a Connect Ads Group Company are requested to determine (at
                                            the request and reasonable expense of A15) that there is an Overprovision and subsequently
                                            so determine (whether before or after the date falling six months and seven years after Completion),
                                            then:

 

    178

     

    

 

		(i)	the
                                            Relevant Percentage of the amount of any Overprovision shall first be set off against any
                                            payment then due from A15 under this Schedule;

 

		(ii)	if
                                            there is an excess, a refund shall be made to A15 of any previous payment or payments made
                                            by A15 under this Schedule (and not previously refunded under this Schedule) up to the amount
                                            of that excess; and

 

		(iii)	if
                                            the excess referred to in paragraph 5.1(b) is not exhausted, the remainder of that excess
                                            will be carried forward and set off against any future payment or payments that become due
                                            from A15 under this Schedule.

 

		5.2	After
                                            a Connect Ads Group Company’s auditors have made a determination under paragraph 5.1,
                                            A15 or Httpool may at any time request the auditors for the time being of the relevant Connect
                                            Ads Group Company to review and, if necessary and as appropriate, amend the original determination
                                            (at the expense of the party requesting the review, or where a payment becomes due under
                                            this paragraph 5.2, at the expense of the party required to make that payment) and an adjusting
                                            payment equal to the Relevant Percentage of the amount of any disparity between the original
                                            and revised determinations shall be made by or to A15 as soon as reasonably practicable.

 

		6.	Savings
                                            and Tax Refunds

 

		6.1	If,
                                            on or before the date falling six months and seven years after Completion:

 

		(a)	Httpool
                                            believes that a Saving or Tax Refund has arisen or is available, Httpool shall inform A15
                                            promptly in writing; or

 

		(b)	a
                                            Connect Ads Group Company’s auditors have been requested to determine (at the request
                                            and reasonable expense of A15) that a Saving or Tax Refund has arisen or is available and
                                            subsequently actually so determine (whether before or after the date falling six months and
                                            seven years after Completion),

 

		(c)	then:

 

		(i)	in
                                            the case of a Saving, Httpool shall, as soon as reasonably practicable, repay to A15, after
                                            deduction of any amounts then due by A15, the lesser of:

 

		(ii)	the
                                            Relevant Percentage of the amount of the Saving; and

 

		(iii)	the
                                            amount paid by A15 under paragraph 2 for the Liability for Tax which gave rise to the Saving
                                            less any part of that amount previously repaid to A15 under any provision of this Schedule
                                            or otherwise; and

 

		(iv)	in
                                            the case of a Tax Refund, Httpool shall, subject to Httpool and the relevant Connect Ads
                                            Group Company being indemnified by A15 against any Tax that may be suffered on receipt of
                                            that amount and any reasonable costs and expenses incurred in recovering that amount, take,
                                            or procure that the relevant Connect Ads Group Company takes, all reasonable steps to obtain
                                            the cash benefit of such Tax Refund and account to A15 the Relevant Percentage of any amount
                                            recovered (including any related interest or related repayment supplement).

 

		6.2	After
                                            a Connect Ads Group Company’s auditors have made a determination under paragraph 6.1,
                                            A15 or Httpool may at any time request the auditors for the time being of the relevant Connect
                                            Ads Group Company to review and, if necessary and as appropriate, amend the original determination
                                            (at the expense of the party requesting the review, or where a payment becomes due under
                                            this paragraph 6.2, at the expense of the party required to make that
                                            payment) and an adjusting payment equal to the Relevant Percentage of the amount of any disparity
                                            between the original and revised determinations shall be made by or to A15 as soon as reasonably
                                            practicable.

 

    179

     

    

 

		7.	Recovery
                                            from third parties

 

		7.1	Where
                                            A15 has paid an amount under paragraph 2 for any Liability for Tax and Httpool, IMS,
                                            Aleph Cayman or a Connect Ads Group Company is, or becomes, entitled to recover from some
                                            other person that is not Httpool, IMS, Aleph Cayman, a Connect Ads Group Company or
                                            any other company in the Buyer’s Tax Group, any amount for any Liability for Tax, Httpool
                                            shall:

 

		(a)	notify
                                            A15 of such entitlement in writing as soon as reasonably practicable; and

 

		(b)	if
                                            required by A15 and, subject to Httpool and the relevant Connect Ads Group Company being
                                            indemnified by A15 against any Tax that may be suffered on receipt of that amount and any
                                            reasonable costs and expenses incurred in recovering that amount, take, or procure that the
                                            relevant Connect Ads Group Company takes, all reasonable steps to enforce that recovery against
                                            the person in question (keeping A15 fully informed of the progress of any action taken).

 

		7.2	If
                                            Httpool, IMS, Aleph Cayman or a Connect Ads Group Company recovers any amount referred
                                            to in paragraph 7.1, Httpool shall account to A15 for the lesser of:

 

		(a)	the
                                            Relevant Percentage of such amount recovered (including any related interest or related repayment
                                            supplement); and

 

		(b)	the
                                            amount paid by A15 under paragraph 2 in respect of the Liability for Tax in question.

 

		8.	Surrender
                                            of Group Relief or other Election

 

		8.1	Subject
                                            to, and in accordance with, the provisions of this paragraph 8, if any liability of A15 under
                                            this Schedule or for any claim under the A15 Tax Warranties can be reduced or eliminated
                                            by:

 

		(a)	the
                                            surrender of Group Relief by A15 or any other company (other than a member of the Buyer’s
                                            Tax Group), to a Connect Ads Group Company; or

 

		(b)	the
                                            making of an election for any gain on the disposal or notional disposal of an asset by a
                                            Connect Ads Group Company to be treated as accruing to a member of the A15 Group,

 

A15 may
make, or procure the making of, any surrender or election and Httpool shall procure that the relevant Connect Ads Group Company shall
take any action that A15 reasonably requests to ensure that the surrender or election is validly made.

 

		8.2	No
                                            Connect Ads Group Company shall be liable to give any consideration for any surrender of
                                            or election in relation to Group Relief under paragraph 8.1.

 

		9.	Pre-Completion
                                            Tax Affairs

 

		9.1	Subject
                                            to this paragraph 9.1, Httpool will have exclusive conduct of all Tax affairs of all Connect
                                            Ads Group Companies after Completion.

 

		9.2	A15
                                            or its duly authorised agent shall, at Connect Ads’ reasonable cost and expense, prepare
                                            the corporation tax returns and computations of all Connect Ads Group Companies for:

 

		(a)	all
                                            accounting periods ended on or before Completion; and

 

		(b)	the
                                            part-accounting period commencing prior to and deemed to end before Completion, if
                                            the same have not been prepared before Completion, and submit them to Httpool for review
                                            and comment at least fifteen Business Days before they are due to be submitted to the relevant
                                            Tax Authority.

 

    180

     

    

 

		9.3	Further
                                            to paragraph 9.2, Httpool shall review the returns and computations and provide comments
                                            to A15 at least ten Business Days before such returns and computations are due to be submitted
                                            to the relevant Tax Authority, following which A15 shall finalize the returns and computations
                                            referred to in paragraph 9.2. Httpool shall procure that the finalized returns and computations
                                            are authorised, signed and submitted to the relevant Tax Authority, save where the return
                                            or computation is not full, true and accurate in all material respects.

 

		9.4	A15
                                            or its duly authorised agent shall, at A15's reasonable cost and expense, prepare all documents
                                            and shall have conduct of all matters (including correspondence) relating to the corporation
                                            tax returns and computations of all Connect Ads Group Companies for:

 

		(a)	all
                                            accounting periods ended on or before Completion; and

 

		(b)	the
                                            part-accounting period commencing prior to and deemed to end before Completion, provided
                                            that:

 

		(i)	A15
                                            shall keep Httpool informed of all material developments known to it in relation to such
                                            matters; and

 

		(ii)	A15
                                            shall not, without the prior written consent of Httpool (not to be unreasonably withheld
                                            or delayed), transmit any communication (written or otherwise) to the relevant Tax Authority
                                            or agree any matter with the relevant Tax Authority.

 

		9.5	Httpool
                                            and Aleph Cayman shall, at A15's reasonable cost and expense, provide such reasonable assistance,
                                            and shall procure that all Connect Ads Group Companies provide such reasonable assistance,
                                            to enable A15 or its duly authorised agent to prepare the corporation tax returns and computations
                                            of all Connect Ads Group Companies for all accounting periods ended on or before Completion
                                            and conduct matters relating to them in accordance with this paragraph 9.5 (including providing
                                            access to employees, books, accounts and records).

 

		9.6	For
                                            the avoidance of doubt:

 

		(a)	where
                                            any matter gives rise to a Tax Claim, the provisions of paragraph 7.1 shall take precedence
                                            over the provisions of this paragraph 9.6; and

 

		(b)	the
                                            provisions of this paragraph 9.6 shall not prejudice the rights of Httpool or Aleph Cayman
                                            to make a claim under this Schedule for any Liability for Tax.

 

		10.	Conduct
                                            of Tax Claims

 

		10.1	Subject
                                            to paragraph 10.2, if Httpool, IMS, Aleph Cayman or a Connect Ads Group Company becomes
                                            aware of a Tax Claim, Httpool shall give or procure that notice in writing is given to A15
                                            or to A15's duly authorised agent as soon as reasonably practicable, provided that giving
                                            that notice shall not be a condition precedent to A15's liability under this Schedule.

 

		10.2	If
                                            A15 becomes aware of a Tax Claim, it shall notify Httpool in writing as soon as reasonably
                                            practicable, and, on receipt of the notice, Httpool shall be deemed to have given A15 notice
                                            of the Tax Claim in accordance with the provisions of paragraph 8.1.

 

    181

     

    

 

		10.3	Subject
                                            to paragraph 10.5, A15 shall be entitled to avoid, dispute, defend, resist, appeal or request
                                            an internal Tax Authority review, or compromise any Tax Claim for and on behalf and in the
                                            name of any Connect Ads Group Company, and shall:

 

		(a)	notify
                                            Httpool as soon as reasonably practicable in writing to this effect if they decide to do
                                            so; and

 

		(b)	keep
                                            Httpool fully informed of all material matters pertaining to the Tax Claim.

 

		10.4	Httpool
                                            shall, and shall procure that the relevant Connect Ads Group Company shall:

 

		(a)	take
                                            such action as A15 may request to avoid, dispute, defend, resist, appeal or request an internal
                                            Tax Authority review, or compromise any Tax Claim (or any determination or direction in respect
                                            of losses);

 

		(b)	not
                                            accept or pay or compromise any Tax Authority Claim without A15’s prior written consent;

 

		(c)	procure
                                            that the relevant Connect Ads Group Company shall keep A15 promptly informed as to all material
                                            developments in relation to any Tax Claim and promptly provide A15 with copies of all correspondence
                                            with any Tax Authority relating to the Tax Claim or the matters to which the Tax Claim relates;
                                            and

 

		(d)	not
                                            make any communication with any Tax Authority in relation to any Tax Claim or any matters
                                            to which any Tax Claim may relate without the prior written approval of the Seller (such
                                            approval not to be unreasonably withheld, conditioned or delayed).

 

		10.5	Httpool,
                                            or the relevant Connect Ads Group Company shall, without reference to A15, be entitled to
                                            admit, compromise, settle, discharge or otherwise deal with a Tax Claim on such terms as
                                            are reasonable:

 

		(a)	if
                                            A15 has not made the decision referred to in paragraph 8.2 or the request referred to in
                                            paragraph 10.4(a) by the earlier of the following dates:

 

		(i)	the
                                            date being fifteen Business Days after the date on which notice of the Tax Authority Claim,
                                            served pursuant to paragraph 8.1, is received by A15; and

 

		(ii)	the
                                            date being five Business Days prior to the last date on which an appeal may be made against
                                            the Liability for Tax to which the Tax Claim relates, provided that A15 has had at least
                                            ten Business Days’ notice of the Tax Claim;

 

		(b)	where
                                            A15 (or relevant Connect Ads Group Company before Completion) has been engaged in fraudulent
                                            conduct or deliberate default relating to the Liability for Tax that is the subject matter
                                            of the Dispute;

 

		(i)	if
                                            the Dispute involves an appeal in a higher court or higher tribunal, unless A15 has obtained
                                            the opinion of Tax counsel of at least ten years' standing that the appeal has a reasonable
                                            prospect of success;

 

		(ii)	if
                                            written notice is served on the Connect Ads Group Company or Httpool by A15 to the effect
                                            that it considers the Tax Claim should no longer be resisted; or

 

		(iii)	upon
                                            the expiry of any period prescribed by applicable legislation for the making of an appeal
                                            against either the Tax Claim in question or the decision of any court or tribunal in respect
                                            of any such Tax Claim, as the case may be.

 

		10.6	Httpool
                                            and Aleph Cayman shall provide and shall procure that the relevant Connect Ads Group Company
                                            provides to A15 and A15's professional advisors reasonable access to premises and personnel,
                                            and to any relevant assets, documents and records in their power, possession or control to
                                            investigate the matter and enable A15 to take any action referred to in this paragraph 7.1.

 

    182

     

    

 

		11.	Buyer’s
                                            Covenant

 

		11.1	Httpool
                                            covenants with A15 to pay to A15 on demand an amount equal to the Relevant Percentage of
                                            any liability or increased liability to Tax which any member of the A15 Group is required
                                            to pay which a Connect Ads Group Company is primarily or equally liable for (after Completion),
                                            and which the relevant member of the A15 Group would not have been required to discharge
                                            but for the failure of the Connect Ads Group Company to discharge that liability.

 

		11.2	Paragraph
                                            12.1 shall not apply to any Tax:

 

		(a)	to
                                            the extent that Httpool or Aleph Cayman could make a claim under paragraph 2 in respect of
                                            that Tax (save where Httpool or Aleph Cayman has received payment from A15 in respect of
                                            that Tax pursuant to such a claim or Connect Ads issues any deferred shares pursuant to paragraph
                                            3.4 in satisfaction of such a claim); or

 

		(b)	which
                                            A15 or a member of the A15 Group has already recovered under any relevant statutory provision
                                            (and A15 shall procure that no such recovery is sought by it or a member of the A15 Group
                                            to the extent that payment is made hereunder).

 

		11.3	Subject
                                            as provided in this Schedule, Httpool covenants with A15 to pay to A15 on demand an amount
                                            equal to any third party costs and expenses (including legal costs), reasonably incurred
                                            by A15 or any member of the A15 Group in connection with or in consequence of any liability
                                            to Tax or increased liability to Tax in respect of which Httpool is liable pursuant to paragraph
                                            11.1.

 

		12.	Grossing
                                            up

 

		12.1	All
                                            amounts due under this Schedule shall be paid in full, without any set-off, counterclaim,
                                            deduction or withholding (other than any deduction or withholding of tax required by law).
                                            If any deductions or withholdings are required by law to be made from any of the sums payable
                                            under this Schedule, the payer shall provide any evidence of the relevant withholding as
                                            the payee may reasonably require and shall pay to the payee any sum as will, after the deduction
                                            or withholding is made, leave the payee with the same amount as it would have been entitled
                                            to receive without that deduction or withholding.

 

		12.2	If
                                            any sum payable under this Schedule is subject to Tax in the hands of the payee, the payer
                                            shall pay any additional amount required to ensure that the net amount received by the payee
                                            shall be the amount that the payee would have received if the payment was not subject to
                                            Tax.

 

		12.3	If
                                            a payee assigns the benefit of this Schedule, the payer shall not be liable under paragraph
                                            9.1 or paragraph 9.2, except if to the extent that the payer would have been so liable had
                                            that assignment not occurred.

 

		12.4	If
                                            a payer makes an increased payment pursuant to paragraphs 9.1 and/or 9.2 in respect of which
                                            the payee or any member of the same group or fiscal unity of the payee for Tax purposes receives
                                            or is granted any credit against, relief for or repayment of any Tax payable by it or other
                                            Relief which it would not otherwise have been granted, the payee shall reimburse the payer
                                            such amount as shall leave the payee in no better or worse position than it would have been
                                            in had there been no such deduction, withholding or Taxation on receipt. The payee shall
                                            promptly notify the payer of any such credit, relief, repayment or other Relief which it
                                            receives and such reimbursement shall be made no later than ten Business Days after the payee
                                            receives or is granted such credit, relief or repayment. The payee or the relevant member
                                            of the payee’s group or fiscal unity for Tax purposes shall use reasonable endeavours
                                            to obtain and utilize any such credit, relief or repayment to which it is or may become entitled.

 

    183

     

    

 

Schedule 18

 

Connect Ads Outstanding Receivables

 

Escrow 2009-2018

 

	Customer ID	 	Customer
    Name	 	 	Amount
    over 356	 
	وزارة االعالم	 	 	CAD000997	 	 	 	243,232	 
	مؤسسة هايب
    السعودية لتقنية المعلومات	 	 	C0000000260	 	 	 	180,690	 
	وزارة الصحة	 	 	C0000000199	 	 	 	180,577	 
	IMA International	 	 	1009312252	 	 	 	125,857	 
	وزارة الثقافة
    و االعالم	 	 	CAD000776	 	 	 	116,403	 
	شركة مواصالت
    كريم لتقنية المعلومات
    (شركة شخص واحد)	 	 	CAD000633	 	 	 	87,519	 
	شركة المياه
    الوطنية	 	 	C000000095	 	 	 	81,812	 
	BrandCode	 	 	C0000000379	 	 	 	73,458	 
	Web-XM	 	 	C0000000389	 	 	 	72,827	 
	Matrix 360	 	 	1011110396	 	 	 	67,319	 
	 	 	 	CAD000556	 	 	 	66,433	 
	Search On	 	 	C000000086	 	 	 	59,566	 
	Resultrix	 	 	CAD000688	 	 	 	56,768	 
	Capital Market Authority	 	 	CAD000803	 	 	 	52,646	 
	الشركة السعودية
    للصناعات األساسية (سابك)	 	 	CAD000690	 	 	 	51,520	 
	شركة سهيل الدولية	 	 	C0000000188	 	 	 	50,428	 
	مطعم بيت الشطيرة
    للوجبات السريعة	 	 	C0000000264	 	 	 	21,234	 
	Hair & Skin Care Center	 	 	000000035	 	 	 	50,002	 
	Service Time Est.	 	 	C0000000399	 	 	 	49,873	 
	Al Tayer	 	 	CAD000795	 	 	 	49,765	 
	شركة ابريز
    السعودية للخدمات االلكترونية	 	 	CAD000598	 	 	 	49,258	 
	الشركة السعودية
    للكهرباء	 	 	1011800046	 	 	 	48,699	 
	Links Communication	 	 	1005421347	 	 	 	48,264	 
	Wunderman	 	 	1011710274	 	 	 	46,010	 
	مؤسسة الضغطة
    الصحيحة لتقنية المعلومات	 	 	CAD000479	 	 	 	45,974	 
	AlkahrabaCare	 	 	CAD000869	 	 	 	45,038	 
	OMNIA	 	 	CAD000673	 	 	 	44,039	 
	Tala Advertising	 	 	C0000000101	 	 	 	42,233	 
	أرقام لالستثمار
    و التجارة	 	 	CAD000528	 	 	 	42,045	 
	INGEUS K.S.A	 	 	CAD000817	 	 	 	39,923	 
	1st Arab Media Services	 	 	C0000000328	 	 	 	39,050	 
	Al-ELM	 	 	1108724043	 	 	 	37,627	 
	ALJ	 	 	0000000021	 	 	 	36,895	 
	الوسم الفريد
    للدعاية المحدودة	 	 	CAD000752	 	 	 	32,295	 
	ذا كومباريزون
    هاوس م.د.م.س	 	 	CAD000565	 	 	 	30,234	 
	شركة الخليج
    العربي السعودي االماراتية
    للإلعالن	 	 	CAD000839	 	 	 	29,069	 
	Saudi Export Development Authority	 	 	C0000000394	 	 	 	24,618	 
	وزارة الشباب
    - البحرين	 	 	CAD001106	 	 	 	24,448	 
	مجموعة عبدالصمد
    القرشي	 	 	C0000000134	 	 	 	22,667	 
	مركز الملك
    سلمان لالغاثة و المساعدات
    االنسانية	 	 	CAD001144	 	 	 	21,433	 
	Al riyadh newspaper	 	 	CAD000514	 	 	 	20,581	 
	شركة مبادرة
    للنشر و التوزيع	 	 	1011487670	 	 	 	20,157	 
	شركة الريف
    للخدمات التعليمية	 	 	CAD001271	 	 	 	19,980	 
	مجموعة الطيار
    للسفر القابضة	 	 	CAD000467	 	 	 	19,921	 
	المجموعة العربية
    لألبحاث و النشر	 	 	CAD000792	 	 	 	19,499	 

 

    184

     

    

 

	Customer ID	 	Customer
    Name	 	 	Amount
    over 356	 
	مجموعة اثراء
    المعرفة العربية لالستشارات
    االدارية و التسويقية	 	 	CAD000500	 	 	 	19,070	 
	Pro Digital	 	 	C0000000309	 	 	 	18,971	 
	Pup Online	 	 	1009787640	 	 	 	18,953	 
	Promotion of virtue & the prevention of vices	 	 	CAD000561	 	 	 	18,848	 
	شركة دار الضيافية
    للخدمات الغائية القابضة	 	 	CAD001201	 	 	 	18,744	 
	M2Network	 	 	1010546710	 	 	 	18,154	 
	Ministry of Civil Service	 	 	C0000000361	 	 	 	17,667	 
	Remal Online	 	 	1009871261	 	 	 	17,313	 
	Souq.com	 	 	C0000000127	 	 	 	17,158	 
	يورسوشيل ام
    إي منطقة حرة - ذ.م.م	 	 	CAD001049	 	 	 	16,932	 
	الهيئة الملكية
    للجبيل و ينبع	 	 	CAD000728	 	 	 	15,803	 
	شركة قسم العمليات
    التسويقية	 	 	C0000000250	 	 	 	15,201	 
	NGHA. CAG	 	 	CAD000451	 	 	 	15,000	 
	King Saud University ADS	 	 	C0000000296	 	 	 	15,000	 
	Al Sharq Al Awsat News	 	 	C0000000240	 	 	 	14,979	 
	نمشي للتجارة
    العامة. ذات مسؤلية محدودة	 	 	C20000000201	 	 	 	14,787	 
	ACCL	 	 	CAD000460	 	 	 	14,740	 
	Saudi Export Development Authority	 	 	CAD000480	 	 	 	14,735	 
	SAPTCO	 	 	CAD000534	 	 	 	4,000	 
	Protcol	 	 	CAD000492	 	 	 	14,391	 
	ePage Global	 	 	C0000000165	 	 	 	14,295	 
	جمعية االقتصاد
    السعودي	 	 	CAD000532	 	 	 	14,000	 
	شركة عقاري
    للتسويق المحدوده	 	 	CAD000649	 	 	 	13,984	 
	Operancy	 	 	1010890419	 	 	 	13,714	 
	Twitter Billimg Error	 	 	CAD000896	 	 	 	13,463	 
	هيئة تطوير
    المدينة المنورة	 	 	CAD001203	 	 	 	13,333	 
	Saudi Drugs & Foods Authority	 	 	C0000000405	 	 	 	12,726	 
	King Abdul Aziz Center for National Dialogue	 	 	CAD000629	 	 	 	12,712	 
	شركة سنمار
    لخدمات االستشارت في اإلدارة
    العليا	 	 	CAD001105	 	 	 	11,640	 
	شركة بيت الرياضة
    الفالح	 	 	C0000000156	 	 	 	12,481	 
	Digitalis Media	 	 	1011857985	 	 	 	11,692	 
	Al Watania Group	 	 	1007352761	 	 	 	10,667	 
	شركة أثال العربية
    التجارية	 	 	CAD001052	 	 	 	10,667	 
	Avis	 	 	CAD000718	 	 	 	10,347	 
	جمعية البر
    بمكه المكرمه	 	 	CAD000650	 	 	 	5,838	 
	Saudi Electronics and Home Appliances
    Institute (SEHAI)	 	 	CAD000639	 	 	 	10,053	 
	Middle East Consulting (MEC)	 	 	CAD000860	 	 	 	10,000	 
	Global Beverages Company	 	 	C0000000416	 	 	 	10,000	 
	Al Masarat Co. LTD.	 	 	1008186074	 	 	 	10,000	 
	WSI stream	 	 	CAD000621	 	 	 	10,000	 
	Alsabla Solutions	 	 	CAD000641	 	 	 	10,000	 
	Shoes steps	 	 	CAD000620	 	 	 	9,995	 
	Bare3	 	 	CAD000529	 	 	 	9,994	 
	Luminous Ideas	 	 	CAD000591	 	 	 	9,907	 
	Tatweer Company For Educational Service	 	 	C0000000278	 	 	 	9,867	 
	Umm Al-Qura University	 	 	CAD000487	 	 	 	9,800	 
	Arriyadh Development Authority	 	 	CAD000656	 	 	 	9,755	 
	Taghreed altasan	 	 	CAD000724	 	 	 	9,696	 
	Mobile Health Management Company Ltd. (MHC)	 	 	CAD000530	 	 	 	9,631	 
	Al Habib Co.	 	 	C0000000206	 	 	 	9,619	 
	322 Media	 	 	C000000077	 	 	 	9,563	 

 

    185

     

    

 

	Customer ID	 	Customer
    Name	 	 	Amount
    over 356	 
	33 Points Ads	 	 	C0000000396	 	 	 	9,336	 
	شركة الفصلة
    الحديثة المحدودة	 	 	CAD001120	 	 	 	9,273	 
	المركز العالمي
    لمكافحة الفكر المتطرف
    اعتدال	 	 	CAD000971	 	 	 	9,084	 
	King Khaled Foundation	 	 	CAD000671	 	 	 	8,569	 
	Media Edge	 	 	0000000014	 	 	 	8,500	 
	مؤسسة عبدالعزيز
    محمد عبدالرحمن الحسن
    للمقاوالت	 	 	CAD000955	 	 	 	8,200	 
	King AbdulAziz Foundation	 	 	CAD000872	 	 	 	8,146	 
	شركة المجلس
    العلمي للدعاية واالعالن	 	 	C0000000190	 	 	 	8,079	 
	SIMAH	 	 	CAD001048	 	 	 	8,000	 
	Genenral Authority For stat	 	 	CAD000697	 	 	 	7,989	 
	Integrel	 	 	CAD000864	 	 	 	7,688	 
	King Abd El Aziz Foundation	 	 	1108191411	 	 	 	7,508	 
	Streamerz	 	 	C000000057	 	 	 	7,500	 
	Wisdom of knowledge	 	 	CAD000485	 	 	 	7,297	 
	الهيئة العامة
    للترفيه	 	 	CAD000876	 	 	 	7,041	 
	WEEAM	 	 	CAD000941	 	 	 	6,919	 
	Ministry of Justice	 	 	C0000000417	 	 	 	6,667	 
	وكالة الصورة
    الرقمية	 	 	CAD001367	 	 	 	6,468	 
	WD-Adv Co	 	 	CAD001021	 	 	 	632	 
	Tribal DDB	 	 	1011342949	 	 	 	6,369	 
	شركة خليج الدانة
    للسياحة	 	 	CAD000733	 	 	 	6,273	 
	Romoz Alfikr	 	 	CAD000557	 	 	 	6,141	 
	الشركة السعودية
    للبحوث والنشر	 	 	C0000000294	 	 	 	5,873	 
	Taqnia for information technology	 	 	CAD000499	 	 	 	5,849	 
	شركة راية للتمويل
    (مساهمة مقفلة)	 	 	CAD001086	 	 	 	5,712	 
	الشركة الخماسية
    لخدمات التسويق	 	 	1007469256	 	 	 	5,686	 
	Emaar Makkah	 	 	CAD001097	 	 	 	5,312	 
	Prince Sultan University	 	 	CAD000836	 	 	 	5,259	 
	شركة حديقة
    الهدية	 	 	CAD001360	 	 	 	5,256	 
	ميناء الملك
    عبد هللا	 	 	CAD001154	 	 	 	5,256	 
	مؤسسة االنطالقة
    الرائدة للحلول التقنية	 	 	CAD000992	 	 	 	5,255	 
	Media Pan Arab	 	 	CAD001235	 	 	 	5,250	 
	غرفة الرياض	 	 	CAD001256	 	 	 	5,229	 
	فرصة السوق	 	 	CAD001092	 	 	 	5,180	 
	Abdulrahman Saeed Al Sayed	 	 	C0000000191	 	 	 	5,128	 
	Crossroads	 	 	C000000070	 	 	 	5,125	 
	شركة دراية
    المالية (مساهمه مقفله)	 	 	CAD000899	 	 	 	5,104	 
	الشركة الوطنية
    لخدمات االسكان	 	 	CAD001169	 	 	 	5,080	 
	MOW	 	 	C000000059	 	 	 	5,022	 
	ناففذة االعالم	 	 	CAD001269	 	 	 	5,002	 
	Vinci Ecole Superieure	 	 	C000000058	 	 	 	5,000	 
	MCI- SOCPA	 	 	CAD000648	 	 	 	4,800	 
	ELAF	 	 	CAD000634	 	 	 	4,800	 
	Twitte CR	 	 	CAD000526	 	 	 	4,456	 
	Corner Dialogue	 	 	CAD000952	 	 	 	4,359	 
	Modern Middle East Media	 	 	CAD000493	 	 	 	4,307	 
	Brand786	 	 	CAD000625	 	 	 	4,220	 
	Havas Media	 	 	CAD000732	 	 	 	4,154	 
	Wataniah Poetry	 	 	C0000000358	 	 	 	3,990	 
	UFM Radio	 	 	CAD000481	 	 	 	3,815	 
	Social Hub	 	 	C0000000336	 	 	 	3,679	 
	AMC	 	 	0000000024	 	 	 	3,413	 

 

    186

     

    

 

	Customer ID	 	Customer
    Name	 	 	Amount
    over 356	 
	Minstry of Higher Education	 	 	C0000000201	 	 	 	3,188	 
	LFG Investments LTD	 	 	CAD000573	 	 	 	2,928	 
	JAC Motors	 	 	C0000000202	 	 	 	2,835	 
	مجموعة ام بي
    سي	 	 	CAD001287	 	 	 	2,800	 
	شركة الحياة
    الطبية لصاحبها وليد امين
    الكيال و شركاه	 	 	CAD001143	 	 	 	2,672	 
	شركة الشرقية
    العظمى لتقنية المعلومات	 	 	CAD000826	 	 	 	2,388	 
	شركة تأثير
    المتحدة	 	 	CAD000935	 	 	 	2,351	 
	inspire	 	 	CAD000916	 	 	 	2,312	 
	انفو جرافيك
    السعودية	 	 	CAD000642	 	 	 	2,174	 
	شركة الخليج
    للتدريب و التعليم المحدودة	 	 	CAD001336	 	 	 	2,110	 
	Xforex	 	 	C000000067	 	 	 	2,074	 
	NSFX	 	 	C0000000324	 	 	 	2,000	 
	Tahweel	 	 	CAD000716	 	 	 	1,996	 
	جمعية كالنا	 	 	CAD000830	 	 	 	1,736	 
	وكالة المدار
    لإلعالن والعالقات العامة	 	 	1007265609	 	 	 	1,682	 
	جمعية مكارم
    االخالق	 	 	CAD001370	 	 	 	1,680	 
	Weber Shandwick	 	 	CAD001408	 	 	 	1,634	 
	ابكو السعودية	 	 	CAD000548	 	 	 	1,481	 
	Web Sqaure	 	 	C000000061	 	 	 	1,467	 
	AlBassam KSA (Hatrke)	 	 	CAD000901	 	 	 	1,288	 
	EFG Hermes	 	 	CAD000571	 	 	 	1,250	 
	شركة محمد ناصر
    الحجاج التجارية	 	 	CAD001177	 	 	 	1,225	 
	UFX	 	 	1011645898	 	 	 	1,169	 
	Obeikan	 	 	C0000000307	 	 	 	1,159	 
	مدينة األمير
    سلطان بن عبد العزيز اإلنسانية	 	 	CAD000874	 	 	 	1,128	 
	NQD Investment	 	 	CAD000831	 	 	 	1,067	 
	ركيزة	 	 	CAD001407	 	 	 	1,050	 
	الشركة الترفيهيه
    االولى	 	 	CAD000510	 	 	 	1,046	 
	COLLEGES OF EXCELLENCE COMPANY	 	 	CAD000613	 	 	 	1,023	 
	ELS Education	 	 	CAD000471	 	 	 	973	 
	KACST	 	 	CAD000807	 	 	 	899	 
	الشركة العربية
    لتجارة العود و العطورات
    الشرقية	 	 	CAD000578	 	 	 	835	 
	Face Event	 	 	CAD000610	 	 	 	760	 
	Ad Mark	 	 	0000000015	 	 	 	719	 
	مجمع التئام
    الجرح الطبي	 	 	CAD001102	 	 	 	719	 
	الجماز للتوزيع	 	 	1007439254	 	 	 	695	 
	مؤسسة خالد
    صالح محمد الحقباني التجارية	 	 	CAD001098	 	 	 	686	 
	شركة العجالن
    و اخوانه	 	 	C0000000143	 	 	 	673	 
	Finegr	 	 	C0000000256	 	 	 	540	 
	Al Andalusia Dental Centers Dr Hazem	 	 	CAD000976	 	 	 	440	 
	DBS Digital - KWI	 	 	CAD000897	 	 	 	427	 
	شركة ألف نون
    الدولية المحدودة	 	 	CAD001266	 	 	 	400	 
	Makkah Site	 	 	CAD000575	 	 	 	338	 
	Brad Buzz	 	 	CAD001025	 	 	 	260	 
	شركة العرفج
    للتجارة و االستثمار	 	 	CAD001158	 	 	 	250	 
	شركة التميز
    العقارية	 	 	CAD001190	 	 	 	250	 
	مؤسسة الخليجيون
    للتجاره	 	 	CAD000450	 	 	 	240	 
	Qadooa	 	 	CAD000948	 	 	 	232	 
	تي سي اي جي لمتد	 	 	CAD001181	 	 	 	171	 
	على عبد هللا
    القحطاني	 	 	CAD000651	 	 	 	153	 
	DHUFAIRY for Haj	 	 	CAD000841	 	 	 	133	 
	GO CLOUDING	 	 	CAD000653	 	 	 	133	 

 

    187

     

    

 

	Customer ID	 	Customer
    Name	 	 	Amount
    over 356	 
	Saudi Press Agency	 	 	CAD000942	 	 	 	133	 
	مؤسسة دولي
    للعطالت	 	 	CAD001246	 	 	 	131	 
	شركة ون لالستشمارات
    (شركة شخص واحد)	 	 	CAD001046	 	 	 	130	 
	The Meals KSA	 	 	CAD000928	 	 	 	125	 
	Y&D Agancy	 	 	C0000000409	 	 	 	96	 
	األهداف المميزة	 	 	CAD001035	 	 	 	92	 
	شركة القائد
    لالستثمار	 	 	CAD001160	 	 	 	90	 
	طبيبك اون الين	 	 	CAD001229	 	 	 	67	 
	Hoshan Pan Gulf	 	 	CAD001099	 	 	 	61	 
	الهيئة الملكية
    لمحافظة العال	 	 	CAD001404	 	 	 	56	 
	One Communication Point	 	 	CAD000699	 	 	 	55	 
	شركة االحساء
    للخدمات الطبية	 	 	CAD001219	 	 	 	52	 
	Connect to Net	 	 	1009949740	 	 	 	47	 
	Ibtikar Technologies	 	 	CAD000775	 	 	 	40	 
	IMC Digital	 	 	CAD001041	 	 	 	33	 
	Focus Agency	 	 	1008618902	 	 	 	32	 
	Gulf Business Trading & investment limited	 	 	C0000000237	 	 	 	32	 
	New Aeon	 	 	CAD001365	 	 	 	27	 
	Youtradefx	 	 	C0000000286	 	 	 	27	 
	Kapitalkitchen	 	 	CAD000771	 	 	 	27	 
	صندوق تنمية
    الموارد البشرية	 	 	CAD000827	 	 	 	26	 
	شركة مشبك التصميم
    لالتصاالت و تقنية المعلومات	 	 	CAD001211	 	 	 	26	 
	شركة تمويل
    البناء	 	 	CAD001014	 	 	 	25	 
	شركة رحماء
    الدولية للتجارة المحدودة	 	 	CAD001391	 	 	 	18	 
	Hash Tag	 	 	C0000000183	 	 	 	16	 
	االستشاريون
    لطب العيون	 	 	CAD001072	 	 	 	15	 
	شركه تجاري
    للتجاره المحدوده	 	 	CAD000852	 	 	 	12	 
	Amanah Capital	 	 	C0000000169	 	 	 	11	 
	Casa Piu	 	 	CAD000846	 	 	 	8	 
	حكيم عيون	 	 	CAD001153	 	 	 	8	 
	شركة روافد
    الدولية للمقاوالت	 	 	CAD001222	 	 	 	8	 
	STECH	 	 	CAD000547	 	 	 	7	 
	المسوق االلكتروني	 	 	CAD001315	 	 	 	6	 
	Media Marketing Online MMO	 	 	C000000081	 	 	 	5	 
	شركة وسيط العقارية	 	 	CAD000877	 	 	 	5	 
	ALKHALEEJONLINE.NET	 	 	CAD000602	 	 	 	5	 
	مؤسسة ابداعات
    الجزيره للتجارة	 	 	CAD001038	 	 	 	5	 
	مؤسسة شجرة
    ليمون لالتصاالت و تقنية
    المعلومات	 	 	CAD001243	 	 	 	5	 
	Khalijia online	 	 	1009863601	 	 	 	3	 
	Hisham Manpower solutins	 	 	CAD000721	 	 	 	2	 
	عيادات ميدي
    كير	 	 	C0000000119	 	 	 	2	 
	Store 2 Door	 	 	CAD000491	 	 	 	2	 
	شركة وسم المحدودة
    للدعاية و االعالن	 	 	CAD001055	 	 	 	2	 
	Bridges for Technology	 	 	CAD001015	 	 	 	1	 
	Omqura	 	 	CAD000954	 	 	 	1	 
	Grand Total	 	 	 	 	 	 	3,621,433	 
	Provision for Doubtful account	 	 	 	 	 	 	(1,205,694	)
	Net	 	 	 	 	 	 	2,415,739	 

 

    188

     

    

 

Escrow 2019

 

	Customer Name	 	Customer ID	 	 	Amount
    over 356	 
	مؤسسة زاد
    للتقنية االتصاالت و تقنية
    المعلومات	 	 	CAD001076	 	 	 	315,176	 
	المركز العالمي
    لمكافحة الفكر المتطرف
    اعتدال	 	 	CAD000971	 	 	 	105,357	 
	شركة وصل االولي
    لتقنية المعلومات	 	 	CAD001376	 	 	 	92,217	 
	Carriage Kuwait	 	 	CAD001481	 	 	 	85,271	 
	وزارة االعالم	 	 	CAD000997	 	 	 	84,000	 
	مؤسسة فوائد
    الشبكة لتقمية المعلومات	 	 	CAD000685	 	 	 	24,878	 
	خرابيش نتورك
    منطقة حرة ذ.م.م	 	 	CAD001485	 	 	 	33,005	 
	Cambly Organizations	 	 	CAD001474	 	 	 	29,432	 
	الشركة السعودية
    للبحوث والنشر	 	 	C0000000294	 	 	 	18,345	 
	شركة االجير
    المنتدب لالستقدام	 	 	CAD001540	 	 	 	11,459	 
	New Aeon	 	 	CAD001365	 	 	 	8,411	 
	البنك العربي
    الوطني	 	 	000000045	 	 	 	7,841	 
	فرع مجمموعة
    المدائن للدعاية و االعالن	 	 	CAD001387	 	 	 	5,817	 
	مركز االعتماد
    الخليجي	 	 	CAD001490	 	 	 	5,256	 
	وزارة الصحة	 	 	C0000000199	 	 	 	5,174	 
	شركة فاين جرافيكس
    السعودية العربية المحدودة	 	 	CAD001517	 	 	 	4,200	 
	شركة خطوط الطيران
    السعوديةالخليجية	 	 	CAD000819	 	 	 	4,200	 
	Ghalia Technology	 	 	C0000000132	 	 	 	3,813	 
	33 Points Ads	 	 	C0000000396	 	 	 	3,387	 
	مؤسسة محمد
    وجدي خاشقجي التجارية	 	 	CAD001058	 	 	 	3,033	 
	نمشي للتجارة
    العامة. ذات مسؤلية محدودة	 	 	C20000000201	 	 	 	2,822	 
	شركة الريف
    للخدمات التعليمية	 	 	CAD001271	 	 	 	2,535	 
	شركة مجمع عيادات
    الدولية الطبية	 	 	CAD001129	 	 	 	2,464	 
	وكالة جذور
    للدعاية و االعالن	 	 	CAD001145	 	 	 	2,000	 
	MITS	 	 	CAD000580	 	 	 	1,958	 
	مؤسسة توجان
    السعودية للخدمات التجارية	 	 	CAD001352	 	 	 	1,533	 
	الشركة الخماسية
    لخدمات التسويق	 	 	1007469256	 	 	 	1,488	 
	مركز ازاد للتدريب	 	 	CAD001368	 	 	 	1,400	 
	شركة المعرض
    العالمي لالثاث الحديث	 	 	CAD001011	 	 	 	1,400	 
	Palm Entertainment	 	 	CAD000909	 	 	 	1,333	 
	برند	 	 	CAD000722	 	 	 	1,333	 
	أرقام لالستثمار
    و التجارة	 	 	CAD000528	 	 	 	1,302	 
	شركة حركة لتنظيم
    المعارض و المؤتمرات	 	 	CAD001534	 	 	 	1,266	 
	Viral Corners	 	 	CAD001043	 	 	 	1,236	 
	شركة مطاعم
    اسماك عمو حمزة	 	 	CAD001037	 	 	 	1,120	 
	تمونيات متاجر
    اوفر للمواد الغذائية	 	 	CAD001412	 	 	 	1,053	 
	الشركة الوطنية
    لصناعة االسمدة الكيماوية	 	 	CAD000867	 	 	 	1,051	 
	Vinci Design	 	 	CAD001477	 	 	 	980	 
	مؤسسة الوقتو
    الزمان لتقنية المعلومات	 	 	CAD001466	 	 	 	957	 
	شركة صناعة
    المحتوى المحدودة	 	 	CAD001521	 	 	 	897	 
	مؤسسة هايب
    السعودية لتقنية المعلومات	 	 	C0000000260	 	 	 	805	 
	شركة سهيل الدولية	 	 	C0000000188	 	 	 	800	 
	وزارة الثقافة
    و االعالم	 	 	CAD000776	 	 	 	752	 
	مؤسسة داريد
    للصيانة و النظافة	 	 	CAD001094	 	 	 	700	 
	منصة المطورين
    لتقنية المعلومات	 	 	CAD001165	 	 	 	670	 
	شركة وسم المحدودة
    للدعاية و االعالن	 	 	CAD001055	 	 	 	622	 
	مطعم مندي الرياض
    لتقديم الوجبات	 	 	CAD001487	 	 	 	600	 
	wadi.com	 	 	CAD000520	 	 	 	568	 
	نادي المسافر	 	 	CAD000525	 	 	 	567	 
	شركة شاس للمقاوالت	 	 	CAD001434	 	 	 	560	 

 

    189

     

    

 

	Customer Name	 	Customer ID	 	 	Amount
    over 356	 
	Al Andalusia Dental Centers Dr Hazem	 	 	CAD000976	 	 	 	523	 
	شركة مفاهيم
    المدينة للتجارة	 	 	CAD001413	 	 	 	421	 
	مؤسسة تحالف
    الرعاية الطبية	 	 	CAD001000	 	 	 	399	 
	مؤسسة منعطف
    النجاح لالتصاالت وتقنية
    المعلومات	 	 	CAD000682	 	 	 	317	 
	السفارة النيوزيالندية	 	 	CAD000786	 	 	 	298	 
	Saudi Projects	 	 	CAD000940	 	 	 	296	 
	Rafal Clinics	 	 	CAD000888	 	 	 	280	 
	شركة البازعي
    للتجارة	 	 	C0000000319	 	 	 	250	 
	شركة حلول االعمال
    المهنية	 	 	CAD001189	 	 	 	210	 
	مشاريع السعودية	 	 	CAD000940	 	 	 	208	 
	مؤسسة الحقيبة
    الشتوية للتجارة	 	 	CAD001363	 	 	 	193	 
	مجمع عيادات
    شركة العناية المبتكرة	 	 	CAD001067	 	 	 	141	 
	مؤسسة المدينة
    للوسائل الدعائية واالعالنية	 	 	CAD000995	 	 	 	137	 
	شركة المسار
    االعالمية للعالقات العامة	 	 	CAD001507	 	 	 	133	 
	اكتشف العا??
    للسفر والسياحة	 	 	CAD000848	 	 	 	87	 
	قدوه	 	 	CAD000948	 	 	 	84	 
	هنجرستيشن
    المحدودة فرع شركة اجنبية
    المحدودة	 	 	CAD001406	 	 	 	72	 
	شركة مهارة
    للموارد البشرية	 	 	CAD001433	 	 	 	67	 
	شركة الموارد
    لالستقدام	 	 	CAD001028	 	 	 	29	 
	مكتب ريادة
    التدريب للخدمات التجارية	 	 	CAD001310	 	 	 	22	 
	Osool & Bakheet Investment Company	 	 	CAD000679	 	 	 	12	 
	Grand Total	 	 	 	 	 	 	891,222	 
	Provision for Doubtful account	 	 	 	 	 	 	(629,544	)
	Net	 	 	 	 	 	 	261,678	 

 

    190

     

    

 

Schedule 19

 

Specified Customers and Agencies

 

		1.	RAI Radiotelevisione Italiana SPA

 

		2.	VALENTINO SPA

 

		3.	Fondazione Barilla Center for Food & Nutrition

 

		4.	Myntelligence S.r.l.

 

		5.	Like Reply Srl con Socio Unico

 

		6.	IPG Italia S.r.l.

 

		7.	Interactive Thinking S.r.l.

 

		8.	Eolo SPA

 

		9.	Connexia Società Benefit S.r.l.

 

		10.	Caffeina Spa

 

		11.	BURSON COHN & WOLFE S.R.L.

 

		12.	MEDICI SENZA FRONTIERE ONLUS

 

		13.	Eureweb Srl

 

		14.	Prada USA

 

		15.	DN Agency srl

 

		16.	Euronics Italia S.p.A.

 

		17.	ROCK communications srl

 

		18.	RCS MEDIAGROUP S.p.A

 

		19.	PUBLICIS MEDIA ITALY S.R.L.

 

		20.	Personal Media Advisoring srl

 

		21.	SCUDERIA ALPHATAURI S.P.A.

 

		22.	PERFORMEDIA Srl unipersonale

 

		23.	Tinaba S.p.A.

 

		24.	Deliverti srl

 

		25.	Universal Music Italia S.r.l.

 

		26.	HT&T CONSULTING SRL

 

		27.	THIS IS HELLO S.R.L.

 

		28.	Imille srl

 

		29.	77Agency Srl

 

    191

     

    

 

Schedule 20

 

Joinder and Amendment Agreement to the Aleph Cayman Shareholders’
Agreement

 

		1.	A15 board representation – A15 shall have the right to designate
                                            one individual as its representative to: (a) attend and participate in all meetings
                                            of the board of directors of Aleph Cayman in a non-voting, observer capacity; and (b) receive
                                            copies of all notices, minutes, consents and other materials (whether in written, electronic
                                            or other form) that Aleph Cayman provides to its directors (the “Observer Right”).
                                            However, A15 shall lose its Observer Right if: (i) if it ceases to hold at least 3%
                                            of the entire issued share capital of Aleph Cayman; or (ii) a conflict of interest (as
                                            such term shall be defined in the Joinder and Amendment Agreement to the Aleph Cayman Shareholders’
                                            Agreement) arises between A15 and the IMS Group. A15 shall as soon as reasonably practicable
                                            notify Aleph Cayman if it becomes aware of potential conflict of interests which shall include
                                            any business opportunity that A15 is or may become interested in which competes with the
                                            IMS Group.

 

		2.	Non-Compete – A15 shall be carved out of the existing non-compete
                                            arrangements in the Aleph Cayman Shareholders’ Agreement and be subject to a non-complete
                                            on the following terms:

 

“A15 shall not, and shall procure
that each member of the A15 Group shall not:

 

(a)            compete
with any member of the IMS Group for any digital media company representation in any territory; or

 

(b)            approach
or contact, attempt to do business with or engage, any of the commercial partners of any member of the IMS Group in connection with digital
media company representation,

 

in each case for a period of five
years from the date that A15 ceases to hold any Shares in the Company.

 

For the purposes of this Section 7.5
only, the following definitions shall apply:

 

“A15 Group” means A15,
each of its Subsidiary Undertakings, any Parent Undertaking of A15 and all other Subsidiary Undertakings of any such Parent Undertaking
from time to time (excluding each member of the Connect Ads Group).

 

“IMS Group” means IMS
and the IMS Subsidiary Undertakings and “IMS Group Company” shall be construed accordingly.

 

“IMS Subsidiary Undertakings”
means all Subsidiary Undertakings of IMS, and “IMS Subsidiary Undertaking” shall be construed accordingly.”

 

“Parent Undertaking” means
an Undertaking which, in relation to another Undertaking, a “Subsidiary Undertaking”:

 

(a)             holds
a majority of the voting rights in the Undertaking; or

 

(b)            is
a member of the Undertaking and has the right to appoint or remove a majority of its board of directors (or analogous body, including
a management board and supervisory council); or

 

    192

     

    

 

(c)            has
the right to exercise a dominant influence over the Undertaking, by virtue of provisions contained in its constitutional documents or
elsewhere; or

 

(d)            is
a member of the Undertaking and controls alone, pursuant to an agreement with the other shareholders or members, a majority of the voting
rights in the Undertaking, and an Undertaking shall be treated as the Parent Undertaking of any Undertaking in relation to which any
of its Subsidiary Undertakings is, or is to be treated as, Parent Undertaking, and “Subsidiary Undertaking” shall be construed
accordingly.

 

“Undertaking” means a body corporate or partnership
or an unincorporated association carrying on trade or business.””

 

(the “A15 Non-Compete”)

 

The Parties acknowledge and agree that
in preparing the Joinder and Amendment to the Aleph Cayman Shareholders’ Agreement, they will work together to ensure the A15 non-compete
provisions are drafted in a form to ensure the enforceability of these provisions.

 

		3.	Right of First Offer – A15 shall be subject to the right of
                                            first offer in clause 8.5 of the Aleph Cayman Shareholders’ Agreement.

 

		4.	Drag-Along Right – A15 shall be subject to the drag-along
                                            in clause 8.6 of the Aleph Cayman Shareholders’ Agreement.

 

		5.	Tag-Along Right– A15 shall have the benefit of the tag-along
                                            right in clause 8.7 of the Aleph Cayman Shareholders’ Agreement, but no party to the
                                            Aleph Cayman Shareholders’ Agreement shall have a tag-along right with respect to any
                                            sale by A15 of its shares in Aleph Cayman.

 

		6.	Modifications – The Aleph Cayman Shareholders’ Agreement
                                            shall not be modified or amended in any way, except by an instrument in writing signed by:
                                            (a) shareholders of Aleph Cayman collectively holding at least a majority Ownership
                                            Percentage (as defined in the Aleph Cayman Shareholders’ Agreement) of Aleph Cayman,
                                            (b) CVC, for so long as CVC is a shareholder of Aleph Cayman, and (c) Aleph, for
                                            so long as Aleph is a shareholder of Aleph Cayman; provided however, that (i) no modification
                                            or amendment shall be made to the A15 Non-Compete without the prior written approval of A15
                                            and (ii) if any other modification or amendment to the Aleph Cayman Shareholders’
                                            Agreement would have a materially adverse or disproportionately adverse effect upon the rights
                                            of, or impose any additional obligations on, any other shareholder of Aleph Cayman, such
                                            instrument must be additionally signed by the affected shareholder(s) of Aleph Cayman.

 

		7.	Application of Seller Provisions – A15 shall be treated as
                                            a “Seller” for the purposes of Section 8.1 of the Aleph Cayman Shareholders’
                                            Agreement and the Call Option as defined in clause 9 (Buyer Value Protection) of the
                                            CVC SPA. Accordingly, if CVC exercises the Call Option in accordance with clause 9 (Buyer
                                            Value Protection) of the CVC SPA, A15 will be required to transfer to CVC the same proportion
                                            of the shares it holds in Aleph Cayman as is transferred by each of the other Sellers (as
                                            defined in clause 9 (Buyer Value Protection) of the CVC SPA) in accordance with the
                                            applicable provisions of clause 9 (Buyer Value Protection) of the CVC SPA. The parties
                                            to the Aleph Cayman Shareholders’ Agreement shall procure that no amendment is made
                                            to clause 9 clause 9 (Buyer Value Protection) of the CVC SPA without the prior written
                                            consent of A15. For the avoidance of doubt, no other provisions of the CVC SPA shall apply
                                            to A15.

 

    193

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