Document:

Exhibit
10.1

 

EXECUTION
COPY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ASSET
PURCHASE AGREEMENT 

 

BY
AND AMONG 

 

HWN,
INC., 

 

ADEX
CORPORATION, 

 

AND

 

INTERCLOUD
SYSTEMS, INC.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

TABLE
OF CONTENTS

 

	 	 	Page No.
	ARTICLE
    1 	ACQUISITION
    OF THE BUSINESS	1
	Section
    1.1. 	Sale
    and Transfer of Certain Assets of the Business	1
	Section
    1.2.	Excluded
    Assets	2
	Section
    1.3. 	Liabilities	2
	Section
    1.4. 	Employees	3
	Section
    1.5.	Purchase
    Price for the Business	3
	ARTICLE
    2 	DUE
    DILIGENCE	5
	Section
    2.1.	Due
    Diligence Deliveries	5
	ARTICLE
    3 	REPRESENTATIONS
    AND WARRANTIES OF PURCHASER	6
	Section
    3.1. 	Organization	6
	Section
    3.2. 	Authority;
    Enforceability	6
	Section
    3.3. 	No
    Conflicts	6
	Section
    3.4. 	Consents	6
	Section
    3.5.	Brokers
    or Finders	6
	ARTICLE
    4 	REPRESENTATIONS
    AND WARRANTIES OF SELLER	7
	Section
    4.1. 	Organization	7
	Section
    4.2. 	Authority;
    Enforceability	7
	Section
    4.3. 	Consents	7
	Section
    4.4. 	No
    Conflicts	8
	Section
    4.5. 	Claims	8
	Section
    4.6. 	Ownership	8
	Section
    4.7. 	Financial
    Statements	8
	Section
    4.8. 	Key
    Employees	8
	Section
    4.9. 	No
    Material Adverse Change	8
	Section
    4.10. 	Brokers
    or Finders	8
	Section
    4.11. 	Solvency	9
	Section
    4.12. 	Tax
    Matters	9
	Section
    4.13. 	Employee
    Benefits	9
	Section
    4.14. 	Absence
    of Undisclosed Liabilities and Encumbrances	11
	Section
    4.15. 	Litigation	11
	Section
    4.16.	Intellectual
    Property	11
	ARTICLE
    5	CONDITIONS
    PRECEDENT TO PURCHASER’S OBLIGATION TO CLOSE	11
	Section
    5.1. 	Satisfaction
    of Due Diligence	11
	Section
    5.2. 	Key
    Employees	11
	Section
    5.3. 	Accuracy
    of Representations	11
	Section
    5.4. 	Seller’s
    Performance	11
	Section
    5.5. 	No
    Proceedings and No Material Adverse Changes	12
	Section
    5.6. 	Transition
    Assistance	12
	Section
    5.7. 	Additional
    Documentation	12
	Section
    5.8. 	Lender
    Approval	12
	Section
    5.9. 	Stop
    Orders	12
	Section
    5.10.	Schedule
    of Liabilities Known to Seller	12

 

     

     

    

 

	ARTICLE
    6	CONDITIONS
    PRECEDENT TO SELLER’S OBLIGATIONS TO CLOSE	12
	Section
    6.1. 	Accuracy
    of Representations	12
	Section
    6.2. 	Purchaser’s
    Performance	12
	Section
    6.3. 	Schedule
    of Liabilities Known to Purchaser	13
	Section
    6.4.	Additional
    Documentation	13
	ARTICLE
    7 	CLOSING
    AND CLOSING DELIVERIES	13
	Section
    7.1. 	Closing
    Date	13
	Section
    7.2.	Closing
    Deliveries	13
	ARTICLE
    8 	PRE-CLOSING
    COVENANTS OF SELLER	13
	Section
    8.1. 	No
    Transfer of the Purchased Assets	13
	Section
    8.2. 	Maintenance
    of Status	13
	Section
    8.3. 	Operation
    of Business	13
	Section
    8.4. 	Actions
    Before the Closing Date	14
	Section
    8.5. 	Access;
    Cooperation	14
	Section
    8.6. 	Notification
    of Certain Matters	14
	Section
    8.7.	Exclusivity	14
	ARTICLE
    9 	PRE-CLOSING
    COVENANTS OF PURCHASER	14
	Section
    9.1. 	Maintenance
    of Status	14
	Section
    9.2. 	Actions
    Before the Closing Date	15
	Section
    9.3. 	Confidentiality	15
	Section
    9.4. 	Additional
    Notices and Covenants	15
	Section
    9.5.	Notification
    of Certain Matters	15
	ARTICLE
    10 	POST-CLOSING
    COVENANTS	15
	Section
    10.1. 	Agreement
    Not to Compete	15
	Section
    10.2.	Agreement
    Not to Solicit	16
	ARTICLE
    11 	DISPUTE
    RESOLUTIONS	16
	Section
    11.1. 	Arbitration	16
	Section
    11.2.	Injunctive
    Relief	16
	ARTICLE
    12 	SURVIVAL;
    INDEMNIFICATION; TERMINATION	17
	Section
    12.1. 	Survival
    of Representations and Warranties Until Closing	17
	Section
    12.2. 	Indemnification
    by Seller	17
	Section
    12.3. 	Indemnification
    by Purchaser	17
	Section
    12.4. 	Inter-Party
    Claims	17
	Section
    12.5. 	Third
    Party Claims	18
	Section
    12.6. 	Indemnification
    Not Exclusive Remedy	18
	Section
    12.7. 	Events
    of Termination	18
	Section
    12.8. 	Effect
    of Termination	19
	Section
    12.9.	Limitation
    on Liability	19
	ARTICLE
    13 	MISCELLANEOUS	19
	Section
    13.1. 	Notices	19
	Section
    13.2. 	Binding
    Effect	20
	Section
    13.3. 	Headings	20
	Section
    13.4. 	Schedules
    and Exhibits	20
	Section
    13.5. 	Counterparts	20
	Section
    13.6.	Governing
    Law; Jurisdiction	20
	Section
    13.7.	Waivers	20
	Section
    13.8.	Pronouns	21
	Section
    13.9.	No
    Strict Construction	21
	Section
    13.10.	Modification	21
	Section
    13.11.	Miscellaneous
    Covenants	21
	Section
    13.12.	Further
    Assurances	21
	Section
    13.13. 	Public
    Announcements	21
	Section
    13.14. 	Entire
    Agreement	21

 

     

     

    

 

ASSET PURCHASE AGREEMENT

BY AND AMONG

HWN, INC.,

ADEX CORP.

AND

INTERCLOUD SYSTEMS, INC.

 

THIS
ASSET PURCHASE AGREEMENT (this “Agreement”) is dated as of February 28, 2017, and is made effective as
of February 1, 2017, and is made and entered into by and among HWN, INC., a Delaware corporation (the “Purchaser”),
ADEX CORP., a New York corporation (“ADEX”), INTERCLOUD SYSTEMS, INC., a Delaware corporation (“InterCloud,”
and together with ADEX, the “Seller”).

 

RECITALS:

 

A.       ADEX
is a wholly-owned subsidiary of InterCloud. ADEX, through its High Wire division, is in the business of contracting with telecommunications
infrastructure manufacturers to install the manufacturers’ products for end-users (the “Business”).
Seller desires to sell, and Purchaser desires to purchase, Seller’s assets related to the Business, subject to the terms
and conditions set forth herein.

 

B.       Subject
to the terms and conditions hereof (i) Purchaser will purchase the Business; (ii) Purchaser will agree to hire certain of Seller’s
employees; and (iii) Seller will agree not to compete with the Business being sold to Purchaser, and not to solicit the Business
clients being transferred to Purchaser in connection with this Agreement.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the mutual covenants and promises hereinafter contained, and for other good and valuable consideration,
the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE
1

ACQUISITION
OF THE BUSINESS

 

Section
1.1.       Sale
and Transfer of Certain Assets of the Business. Subject to the terms and conditions of this Agreement, Seller agrees to
transfer, and Purchaser agrees to acquire certain assets of the Business. Seller agrees that all conditions precedent related
to the transfer of the Business to Purchaser will have been completed by the Closing Date. In connection with such transfer, Seller
agrees to transfer and assign to Purchaser any and all right, title and interest currently owned or licensed by Seller in connection
with the Business, and described herein (the “Transferred Assets”) free and clear of all liens and encumbrances,
which shall be sold pursuant to and in accordance with the Bill of Sale, substantially in the form attached hereto as Exhibit
1.1.

 

(a)       Accounts
receivable listed on Schedule 1.1(a) attached hereto;

 

     

     

    

 

(b)       All
inventory and other assets of the Seller related to the Business, including all contracts, equipment and other fixed assets, software,
intellectual property and licenses and other assets related to the Business listed on Schedule 1.1(b).

 

(c)       All
files related to the Business, including, specifically, complete client files related to the Business, including contracts, purchase
orders, service contracts, licensing agreements, billing records, correspondence, and any other reasonable information that would
assist or benefit Purchaser in connection with the ongoing support, sales, and service of the Business;

 

(d)       Any
pre-paid contracts, deposits or service or maintenance renewal fees related to any period of time from the Closing Date onward;

 

(e)       The
right to the name “High Wire Networks” and derivatives thereof;

 

(f)       All
trademarks, trade, brand, assumed and domain names and websites of Seller associated with the Business listed on Schedule 1.1(f);

 

(g)       All
rights in, to and under the assigned contracts listed in Schedule 1.1(g) (the “Assigned Contracts”);

 

(h)       All
work in progress of the Business listed on Schedule 1.1(h); and

 

(i)       All
cash and cash equivalents and deposit accounts related to the Business.

 

Section
1.2.       Excluded Assets. Purchaser is purchasing only the Transferred Assets,
and will not be purchasing any other assets of Seller, which shall be excluded from the Transferred Assets, including, but not
limited to, the assets listed below (the “Excluded Assets”):

 

(a)       All
financial statements, tax returns and related financial information of the Seller;

 

(b)       All
insurance policies owned or maintained by Seller and all rights thereunder;

 

(c)       All
claims for refunds of taxes or governmental charges; and

 

(d)       Interest
on and principal amounts due and owing to Seller by any of its affiliates.

 

Section
1.3.       Liabilities. The
parties hereto agree as follows:

 

(a)       At
the Closing, Purchaser shall assume and agree to discharge only the following specifically enumerated liabilities of Seller (the
“Assumed Liabilities”):

 

(i)       those
liabilities arising under accounts payable set forth on Schedule 1.3(a)(i);

 

    	 	- 2 -	 

     

    

 

(ii)      those
liabilities relating to the Business for future payment or performance under the Assigned Contracts, including customer deposits
and deferred revenue which (A) initially accrue or arise after the Closing Date; (B) were incurred in the ordinary course of business;
and (C) are not the result of or caused by any breach, failure to perform, improper performance or default of, Seller thereunder
on or prior to the Closing Date;

 

(iii)     except
as otherwise set forth herein, any and all liabilities arising out of or related to the ownership of the Transferred Assets or
the operation of the Business arising or accruing from and after the Closing Date;

 

(iv)     all
obligations to complete work-in-progress; and

 

(v)      accrued
commissions and other unpaid accrued expenses as set forth in Schedule 1.3(a)(v).

 

(b)       All
other liabilities of the Seller that are not Assumed Liabilities, whether existing as of the Closing Date or incurred thereafter,
and whether direct or indirect, known or unknown, shall constitute excluded liabilities (the “Excluded
Liabilities”) All Excluded Liabilities remain the sole obligation of Seller and Purchaser shall not assume, and shall
not agree to assume, or pay or perform, or in any way be responsible for, any of the Excluded Liabilities. The Seller shall pay
and satisfy in due course all Excluded Liabilities which the Seller is obligated to pay and satisfy.

 

Section
1.4.       Employees. Purchaser and Seller also agree that Purchaser shall offer
current employment opportunities to certain key employees (“Key Employees”) who are identified and listed on
Schedule 1.4 effective as of Closing. Schedule 1.4 shall also include their current wages or salaries, and other
benefits. Purchaser shall have no obligation to match such wages, salaries or benefits. Seller will pay to the Key Employees the
amount of any accrued vacation time existing as of the date of Closing. Seller will make available to Purchaser, to the extent
allowed under law, a copy of all employment files related to the Key Employees who agree to work for Purchaser. Seller shall remain
liable for any and all obligations related to the Key Employees for periods prior to Closing, and will indemnify and hold Purchaser
harmless from same. Purchaser will be liable for any and all obligations related to the Key Employees who agree to work for Purchaser
for periods on or after Closing, and will agree to indemnify and hold Seller harmless from same. As further described in Section
5.6 hereof, the parties contemplate entering into a Services Agreement for transition services from the Closing Date until August
28, 2017, unless extended by mutual agreement of the parties pursuant to the terms of the Services Agreement.

 

Section
1.5.       Purchase
Price for the Business.

 

(a)       The
aggregate consideration (the “Purchase Price”) to be paid by Purchaser to Seller for the Transferred Assets
shall be an amount equal to the sum of: (a) Four Million Dollars ($4,000,000) (the “Base
Payment”); (b) plus the Adjusted Net Working Capital Amount.

 

    	 	- 3 -	 

     

    

 

(b)       The
Base Payment shall be paid at Closing to the Seller in cash in immediately available funds in accordance with the payment statement,
attached hereto as Exhibit 1.5(b)(i) (the “Payment
Statement”).

 

(c)       No
sooner than five (5) days and no later than two (2) days prior to the Closing Date, Seller shall prepare and deliver to the Purchaser
the calculation of the Closing Net Working Capital Amount, along with detailed supporting schedules and records for the Seller’s
calculation of the Closing Net Working Capital Amount. The Seller’s calculation of the Closing Net Working Capital Amount
shall be subject to approval by the Purchaser (which approval shall not be unreasonably withheld), and the Seller shall provide
the Purchaser with access to all books, records and personnel requested by Purchaser to verify and approve the Closing Net Working
Capital Amount. As used herein “Closing Net Working Capital Amount” shall mean the current assets of the Seller
(excluding cash on hand) to be received by the Purchaser at Closing less the current liabilities of Seller to be assumed by Purchaser
at Closing, prepared in conformity with generally accepted accounting principles in effect from time to time, consistently applied
(“GAAP”).

 

(d)       Six
(6) months following the Closing Date, Purchaser shall prepare and deliver to the Seller a statement setting forth Purchaser’s
calculation of the Adjusted Net Working Capital Amount. As used herein, “Adjusted Net Working Capital Amount”
shall mean the Closing Net Working Capital Amount, less any adjustments for (a) unrecorded liabilities related to pre-paid service
agreements as of the Closing Date, for which Seller has already received payment from the applicable customer as invoiced but
not collected accounts receivable related to prepaid services between January 10, 2017 and the Closing Date; (b) any commissions
incorrectly estimated, either over or under-estimated, on the Closing Date paid by Purchaser to sales staff for transactions completed
and invoiced prior to the Closing Date; (c) any funds collected in error by Purchaser or Seller and not returned; and (d) any
fees, taxes, costs or penalties incurred by Seller and paid by Purchaser deemed essential to business continuity relating to the
period up to the Closing Date and arising from Seller’s errors or omissions. Within thirty (30) days after delivery of Purchaser’s
calculation of the Adjusted Net Working Capital Amount (the “Objection Period”), the Seller shall notify Purchaser
in writing of any objections to the calculations contained therein, specifying in detail each objection and the basis for each
objection (an “Objection Notice”). If the Seller fails to deliver an Objection Notice to Purchaser within the
Objection Period, then Purchaser’s calculation of the Adjusted Net Working Capital Amount shall be deemed final, binding
and conclusive for all purposes hereunder. If the Seller delivers an Objection Notice to Purchaser within the Objection Period,
then Purchaser and the Seller shall use good faith efforts to resolve the disputed items during the thirty (30) day period after
the Objection Notice has been delivered to Purchaser (or within such extended time period as is mutually agreed by the Purchaser
and the Seller). Any disputed items resolved in writing between the Purchaser and the Seller within such thirty (30) day period
(or within such extended time period as is mutually agreed by the Purchaser and the Seller) shall be final and binding with respect
to such items. Any items which the Purchaser and the Seller are unable to so resolve shall be submitted for final determination
to an independent accounting firm acceptable to Purchaser and the Seller (the “Independent Accountant”).

 

    	 	- 4 -	 

     

    

 

The
Independent Accountant shall make a written determination as to each issue remaining in dispute and the amount of the Adjusted
Net Working Capital Amount and the effect thereof on the Purchase Price, which determination of the Independent Accountant shall
be final and binding upon the parties for all purposes hereunder. The Purchaser and the Seller shall use their commercially reasonable
efforts to cause the Independent Accountant to render a written decision resolving the matters submitted to it within thirty (30)
days following the submission thereof. The Independent Accountant shall be authorized to resolve only those issues remaining in
dispute between the Purchaser and the Seller submitted to it in accordance with this Section. The Purchaser and the Seller shall
instruct the Independent Accountant not to, and the Independent Accountant shall not, assign a value to any item in dispute greater
than the greatest value for such item assigned by Purchaser, on the one hand, or the Seller, on the other hand, or less than the
smallest value for such item assigned by Purchaser, on the one hand, or the Seller, on the other hand. The Purchaser and the Seller
shall also instruct the Independent Accountant to make its determination based solely on presentations by the parties which are
in accordance with the guidelines and procedures set forth in this Agreement, and not on the basis of any independent review by
the Independent Accountant. The Purchaser and the Seller agree that judgment may be entered upon the written determination of
the Independent Accountant in any court referred to in this Agreement. The fees and expenses of the Independent Accountant shall
be borne by the parties in inverse proportion as they may prevail on the issues resolved by the Independent Accountant, which
proportionate allocation shall be calculated on an aggregate basis based on the relative dollar values of the amounts in dispute
and shall be determined by the Independent Accountant at the time the Independent Accountant renders its determination on the
merits of the matters submitted thereto.

 

(e)       Within
five (5) Business Days following the date on which the calculation of the Adjusted Net Working Capital Amount become final and
binding pursuant to this Agreement, Purchaser shall pay to Seller (by wire transfer of immediately available funds pursuant to
instructions provided by the Seller) an amount equal to the Adjusted Net Working Capital Amount.

 

(f)       Allocation
of Purchase Price. The Purchase Price shall be allocated to the Transferred Assets using the methodology described on Exhibit
1.5(f) hereto.

 

ARTICLE
2

DUE
DILIGENCE

 

Section
2.1.       Due
Diligence Deliveries. Prior to the Closing Date, Seller
shall deliver to Purchaser information concerning Seller’s Business, including client information, financial statements,
and UCC lien, tax lien and judgment searches for the Seller and all of the Transferred Assets in a form and content satisfactory
to Purchaser obtained from a third party service company.

 

    	 	- 5 -	 

     

    

 

ARTICLE
3

REPRESENTATIONS
AND WARRANTIES OF PURCHASER

 

Purchaser
represents and warrants to Seller, that as of the date hereof, and as of the Closing Date, as follows:

 

Section
3.1.       Organization.
Purchaser is a Delaware corporation duly organized and existing under the laws of the state of Delaware with full corporate
and other power and authority to carry on its business as it is now being conducted.

 

Section
3.2.       Authority;
Enforceability. Purchaser has full power and authority to
execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby. All requisite actions to approve,
execute, deliver and perform this Agreement and each other agreement and document delivered or to be delivered by it in connection
herewith has been or will be taken by it. A copy of Purchaser’s Resolutions approving this transaction are attached hereto
as Exhibit 3.2. This Agreement and each other agreement and document delivered by Purchaser in connection herewith have
been or will be duly executed and delivered by it and constitute or will constitute the legal, valid and binding obligations of
it enforceable in accordance with their respective terms.

 

Section
3.3.       No
Conflicts. No action taken by or on behalf of Purchaser
in connection herewith, including, but not limited to, the execution, delivery and performance of this Agreement:

 

(a)       contravenes,
conflicts with or results in a violation or breach of any contract to which Purchaser is a party;

 

(b)       contravenes,
conflicts with or violates: (i) any law or (ii) any order, arbitration award, judgment, decree or other similar restriction to
which Purchaser or its respective assets is subject; or

 

(c)       constitutes
an event which, after notice or lapse of time or both, would result in any of the foregoing.

 

Section
3.4.       Consents.
Except for the ratification and approval of this Agreement by Purchaser’s board of directors, no approval or consent is
required to be made by it in connection with the transactions contemplated hereby or the execution, delivery or performance
by it of this Agreement or any other agreement or document delivered by or on behalf of it in connection herewith.

 

Section
3.5.       Brokers
or Finders. Purchaser has not incurred any obligation or
liability, contingent or otherwise, for brokerage or finders’ fees or agents’ commissions or other similar payment
in connection with the transactions contemplated hereunder.

 

    	 	- 6 -	 

     

    

 

ARTICLE
4

REPRESENTATIONS
AND WARRANTIES OF SELLER

 

Seller
represents and warrants to Purchaser that as of the date hereof, and as of the Closing Date, as follows:

 

Section
4.1.       Organization.
ADEX is a corporation duly organized, existing and in good standing under the laws of the State of New York. InterCloud
Systems, Inc. is a corporation duly organized, existing and in good standing under the laws of the State of Delaware. Each
Seller has full control and other power and authority to carry on its business as it is now being conducted. Each Seller is
duly qualified or authorized to do business and is in current status or good standing, as applicable, under the laws of each
jurisdiction in which the conduct of its business requires such qualification or authorization.

 

Section
4.2.       Authority;
Enforceability.

 

(a)       Each
Seller has full power and authority to execute, deliver and perform this Agreement and to consummate the transactions contemplated
hereby. All requisite actions to approve, execute, deliver and perform this Agreement and each other agreement and document delivered
or to be delivered by each Seller in connection herewith has been or will be taken by each Seller. A copy of Seller’s Resolutions
approving this transaction are attached hereto as Exhibit 4.2. This Agreement and each other agreement and document delivered
by Seller in connection herewith have been or will be duly executed and delivered by Seller and constitute or will constitute
the legal, valid and binding obligations of Seller enforceable in accordance with their respective terms.

 

(b)       Each
Seller has full capacity, power and authority to execute, deliver and perform this Agreement and to consummate the transactions
contemplated hereby. This Agreement and each other agreement and document delivered by Seller in connection herewith have been
or will be duly executed and delivered by them and constitute or will constitute the legal, valid and binding obligations of each
Seller enforceable in accordance with their respective terms.

 

Section
4.3.       Consents. Except for the ratification and approval of this Agreement
by Seller’s board of directors, and except as set forth on Schedule 4.3, no approval
or consent is required to be obtained by Seller in connection with the transactions contemplated hereby or the execution, delivery
or performance by Seller of this Agreement. . If the consent or approval of any third party is necessary for the assignment or
other transfer to Purchaser of any contract identified as an Assumed Contract, and such consent or approval has not been obtained
prior to Closing, then such Contract shall not be assigned to Purchaser and shall not be an Assumed Contract, unless otherwise
agreed to by the Purchaser. Following Closing, the parties shall use commercially reasonable efforts to obtain such consents or
approvals. If any such consent or approval cannot be obtained, the parties will cooperate in any reasonable arrangement designed
to obtain for Purchaser all benefits and privileges of the applicable contract.

 

    	 	- 7 -	 

     

    

 

Section 4.4.       No
Conflicts. No action taken by or on behalf of Seller in connection herewith, including, but not limited to, the execution,
delivery and performance of this Agreement:

 

(a)       contravenes,
conflicts with or results in a violation or breach of any contract to which Seller is a party;

 

(b)       contravenes,
conflicts with or violates: (i) any law or (ii) any order, arbitration award, judgment, decree or other similar restriction to
which Seller or its respective assets is subject; or

 

(c)       constitutes
an event which, after notice or lapse of time or both, would result in any of the foregoing.

 

Section
4.5.       Claims. There is no litigation, claim, governmental or other proceeding
or investigation pending or, to the knowledge of Seller, threatened against Seller which if adversely determined would have a
material adverse effect on the Business.

 

Section
4.6.       Ownership. On the Closing Date, Seller will sell the Transferred
Assets free and clear of all liens and encumbrances.

 

Section
4.7.       Financial Statements. The financial statements delivered to Purchaser
(the “Financial Statements”) and
which are attached as Schedule 4.7 fairly present the financial condition and the results of operations of the Business
as at the respective dates of and for the periods referred to in such Financial Statements, all in accordance with GAAP. The Financial
Statements referred to in this Section 4.7 reflect the consistent application of such accounting principles throughout
the periods involved, and have been prepared from the books and records of Seller and are in accordance with the accounting records
of Seller.

 

Section
4.8.       Key
Employees. None of the Key Employees have written employment
agreements or letter agreements that are intended to serve as employment agreements or contracts, or post-employment restrictive
covenants.

 

Section
4.9.       No
Material Adverse Change. Since the date of the Financial
Statements, there has not been any material adverse change in the business, operations, prospects, assets, results of operations
or condition (financial or other) of the Business, and no event has occurred or circumstance exists that may result in such a
material adverse change.

 

Section
4.10.       Brokers
or Finders. Seller has not incurred any obligation or liability,
contingent or otherwise, for brokerage or finders’ fees or agents’ commissions or other similar payments in connection
with the transactions contemplated hereunder.

 

    	 	- 8 -	 

     

    

 

Section
4.11.       Solvency. Seller hereby warrants and represents that neither its
execution of this Agreement nor consummation of the transactions contemplated by this Agreement shall constitute a fraudulent
transfer of Seller’s property, as defined in the Uniform Fraudulent Transfer Act, as promulgated in the State of Illinois
at 740 ILCS 160/1, et seq., as may be amended or supplemented from time to time (the “Act”). In this
regard, Seller specifically warrants and represents that:

 

(a)       Seller
has been for the one (1) year period ending on the date of this Agreement, and is on the date of this Agreement, solvent;

 

(b)       Seller
will not be made insolvent by its execution of this Agreement or its consummation of the transactions contemplated by this Agreement;

 

(c)       Purchaser
has given Seller, and Seller has received, property of a present value reasonably equivalent to the value of the present property
transferred to Purchaser; and

 

(d)       The
transfers of property contemplated in this Agreement, individually and collectively, are not fraudulent as to any one or more
of Seller’s creditors, regardless of whether the claims of such creditors arose before or arise after the consummation of
such transfers.

 

Section
4.12.       Tax
Matters. With respect to the Business: (i) Seller has filed
or caused to be filed on a timely basis all tax returns and all reports with respect to taxes that are or were required to be
filed pursuant to applicable Law; (ii) to Seller’s knowledge, all positions taken on such tax returns and reports filed
by Seller relating to the Business are true, correct and complete in all respects and were prepared in compliance with all applicable
laws and regulations; (iii) Seller has paid, or shall pay all filed or required to be filed taxes that have or may have become
due for all periods covered by all tax returns filed or required to be filed or otherwise, or pursuant to any assessment received
by Seller, including, without limitation, a tax liability to the State of Illinois in the amount of $21,970.76; (iv) Seller has
made all withholding of taxes required to be made under all applicable Laws including, without limitation, withholding with respect
to sales and use taxes and compensation paid to employees, and the amounts withheld have been properly paid over to the appropriate
tax authorities; (v) no claim has ever been made or could reasonably be made by any governmental entity in a jurisdiction where
Seller does not file tax returns with respect to the Business that it is or may be subject to taxation by that jurisdiction in
connection with the Business; (vii) there are no encumbrances on any of the Transferred Assets that arose in connection with any
failure (or alleged failure) to pay any tax and no basis exists for assertion of any claims attributable to taxes which, if adversely
determined, would result in any such encumbrance; (viii) Seller is not a “foreign person” within the meaning of Section
1445(f)(3) of the Code; and (ix) the transactions contemplated by this Agreement are not subject to the tax withholding provisions
of Section 3406 of the Code or of Sub-Chapter A or Chapter 3 of the Code, or of any other comparable provision of Law.

 

Section
4.13.       Employee
Benefits.

 

(a)       Schedule
4.13(a) set forth a complete list of all material benefit plans operated by Seller that cover the Key Employees (the “Company
Benefit Plans”). Apart from the Company Benefit Plans, there are no other benefit plans pertaining to the Business.
Seller is in compliance with its obligations under the Company Benefit Plans and has made all deposits required to be made with
respect to the Company Benefit Plans as of the Closing Date.

 

    	 	- 9 -	 

     

    

 

(b)       Schedule
4.13(b) sets forth the job titles, salaries, age and dates of commencement of continuous service for each Key Employee and the
amount of any bonuses due and payable. As of the date hereof, there are no proposals to change the terms, schemes, arrangements
or policies relating to Key Employees.

 

(c)       Benefits
Matters.

 

(i)       None
of Seller or any ERISA Affiliate thereof contributes or has been required to contribute (on a contingent basis or otherwise),
to any multiemployer plan pertaining to the Business within the meaning of Section 3(37) of ERISA. No Company Benefit Plan has
ever been subject to Title IV of ERISA and no event (including any action or any failure to take any action) has occurred with
respect to any Company Benefit Plan currently maintained by QAA or any ERISA Affiliate thereof that would subject QAA to any liability
under Title IV of ERISA.

 

(ii)       The
Company Benefit Plans have been maintained, in all material respects, in accordance with their terms and with all provisions of
ERISA, the Code and other applicable federal and state laws, and no Seller nor, to the Knowledge of the Seller, any other “party
in interest” or “disqualified person” with respect to the Company Benefit Plans has engaged in a non-exempt
“prohibited transactional” within the meaning of Section 4975 of the Code or Section 406 of ERISA. No fiduciary who
is an employee or director of the Seller, and no other fiduciary has any liability for breach of fiduciary duty or any other failure
to act or comply in connection with the administration or investment of the assets of any Company Benefit Plan.

 

(iii)       The
Company Benefit Plans intended to qualify under Section 401 of the Code are so qualified and the trusts maintained pursuant thereto
are exempt from federal income taxation under Section 501 of the Code, and nothing has occurred with respect to the operation
of such plans which could cause the loss of such qualification or exemption or the imposition of any liability, penalty or tax
under ERISA or the Code, except for insignificant operational errors which are eligible for self-correction under the terms of
the IRS’s Employee Plans Compliance Resolution System program.

 

(iv)       There
are no pending actions, claims or lawsuits which have been asserted or instituted against the Company Benefit Plans, the assets
of any of the trusts under such plans or the plan sponsor or the plan administrator; or against any fiduciary of the Company Benefit
Plans with respect to the operation of such plans (other than routine benefit claims), nor are there any facts which could form
the basis for any such claim or lawsuit.

 

    	 	- 10 -	 

     

    

 

Section
4.14.       Absence of Undisclosed Liabilities and Encumbrances. The Transferred
Assets shall be conveyed to Purchaser pursuant to this Agreement free and clear of all encumbrances, and except for the Assumed
Liabilities, Purchaser shall not incur any liability as a result of its acquisition of the Transferred Assets. Seller has no indebtedness,
obligation or liability relating to the Business (in any case, whether known or unknown, asserted or unasserted, absolute or contingent,
accrued or unaccrued, liquidated or unliquidated or due or to become due) which is not shown on the face of the most recent audited
balance sheets of Seller (or in the notes to the corresponding audited financial statements) and would reasonably be expected
to have a material adverse effect on the Business and there is no basis for any present or future action, suit, proceeding, hearing,
investigation, charge, complaint, claim or demand against Seller or the Business or otherwise affecting the Transferred Assets
giving rise to any such indebtedness, obligation or liability.

 

Section
4.15.       Litigation.
Other than those actions or proceedings previously disclosed
by the parties (a) there are no investigations, inquiries, audits or proceedings pending or overtly threatened against or affecting
the Business or any of the Transferred Assets, (b) there are no unsatisfied judgments of any kind against Seller, the Business
or any of the Transferred Assets, and (c) Seller is not subject to any judgment, order or decree of any court or governmental
entity.

 

Section
4.16.       Intellectual
Property. Seller is the owner or a licensee of all right,
title and interest in and to each of the Transferred Assets relating to intellectual property which shall be transferred to the
Purchaser on the Closing Date free and clear of all encumbrances.

 

ARTICLE
5

CONDITIONS
PRECEDENT TO PURCHASER’S OBLIGATION TO CLOSE

 

Purchaser’s
obligation to take the actions required to be taken by them at Closing is subject to the satisfaction, at or prior to Closing,
of each of the following conditions (any of which may be waived by Purchaser, in whole or in part):

 

Section
5.1.       Satisfaction
of Due Diligence. Purchaser shall have completed, and shall
be satisfied with, in its sole discretion, its due diligence review of the business and assets of Seller, provided, however, that
Purchaser shall have completed its due diligence review no later than the Closing Date. In connection therewith, Purchaser shall
have access to such information, books, records, facilities, personnel and certain clients of Seller as Purchaser may reasonably
request.

 

Section
5.2.       Key
Employees. Each of the Key Employees has agreed to be employed
by the Purchaser.

 

Section
5.3.       Accuracy
of Representations. Seller’s representations and warranties
in this Agreement (considered collectively), and each of such representations and warranties (considered individually), shall
have been accurate in all material respects as of the date of this Agreement, and shall be accurate in all material respects as
of the time of the Closing as if then made.

 

Section
5.4.       Seller’s
Performance. All of the covenants and obligations that Seller
are required to perform or to comply with pursuant to this Agreement at or prior to the Closing (to the extent such matters can
be done prior to Closing, and if not, within a reasonable period of time after Closing), and each of such covenants and obligations
(considered individually), shall have been duly performed and complied with in all material respects.

 

    	 	- 11 -	 

     

    

 

Section
5.5.       No
Proceedings and No Material Adverse Changes. As of the Closing
Date, there shall not have been commenced or threatened against Seller any proceeding (a) involving any challenge to, or seeking
damages or other relief in connection with, any of the transactions contemplated herein or (b) that may have the effect of preventing,
delaying, making illegal, imposing limitations or conditions or otherwise interfering with any of the transactions contemplated
herein. Likewise, there shall not be any material adverse change in the Business of Seller, its relationships with its clients,
its business prospects, its employees, its board, or other third parties with whom it conducts business, which would, in a material
respect, negatively and adversely impact or affect the Business on a go forward basis.

 

Section
5.6.       Transition
Assistance. The parties shall enter into a Services Agreement
to provide for the transition of certain services.

 

Section
5.7.       Additional
Documentation. Such other documents as Purchaser may reasonably
request from Seller for the purpose of facilitating the consummation or performance of any of the transactions contemplated hereunder.

 

Section
5.8.       Lender
Approval. Purchaser shall have received an executed letter
from the Seller’s senior secured lender reasonably satisfactory to Purchaser confirming that all liens upon any of the Transferred
Assets in favor of such lender have been released prior to the Closing Date, or will be released on the Closing Date.

 

Section
5.9.       Stop
Orders. Seller shall have delivered to Purchaser Stop Orders,
Releases or Clearance Letters, as the case may be, from the Illinois Department of Revenue and the Illinois Department of Employment
Security, and any other applicable jurisdictions, with respect to the transactions contemplated hereunder.

 

Section
5.10.       Schedule
of Liabilities Known to Seller. Seller shall have provided
Purchaser with a schedule of all liabilities related to the Business, whether such liabilities will be Assumed Liabilities or
not, detailing all known and contingent liabilities related to the Business. Seller shall certify that such schedule has been
prepared to the best of its knowledge, and is a material inducement to Purchaser entering into this Agreement.

 

ARTICLE
6

CONDITIONS
PRECEDENT TO SELLER’S OBLIGATIONS TO CLOSE

 

Seller’s
obligation to take the actions required to be taken by them at Closing is subject to the satisfaction, at or prior to Closing,
of each of the following conditions (any of which may be waived by Seller, in whole or in part):

 

Section
6.1.       Accuracy
of Representations. All of Purchaser’s representations
and warranties in this Agreement (considered collectively), and each of such representations and warranties (considered individually),
shall have been accurate in all material respects as of the date of this Agreement, and shall be accurate in all material respects
as of the time of the Closing as if then made.

 

Section
6.2.       Purchaser’s
Performance. All of the covenants and obligations that Purchaser
is required to perform or to comply with pursuant to this Agreement at or prior to the Closing (considered collectively),
and each of such covenants and obligations (considered individually), shall have been duly performed and complied with in all
material respects.

 

    	 	- 12 -	 

     

    

 

Section
6.3.       Schedule
of Liabilities Known to Purchaser. Purchaser shall have
provided Seller with a schedule of all liabilities related to the Business, whether such liabilities will be Assumed Liabilities
or not, detailing all known and contingent liabilities related to the Business. Purchaser shall certify that such schedule has
been prepared to the best of its knowledge, and is a material inducement to Seller entering into this Agreement.

 

Section
6.4.       Additional
Documentation. Such other documents as Seller may reasonably
request from Purchaser for the purpose of facilitating the consummation or performance of any of the transactions contemplated
hereunder, including the Services Agreement.

 

ARTICLE
7

CLOSING
AND CLOSING DELIVERIES

 

Section
7.1.       Closing Date. Subject to the terms and conditions hereof, consummation
of the transactions contemplated hereby (the “Closing”) shall take place on February 28, 2017, and is effective
as of February 1, 2017 (the “Closing Date”), or such other date upon which all conditions to Closing shall
be satisfied. The Closing shall take place by the electronic exchange of documents.

 

Section
7.2.       Closing
Deliveries. At Closing, each party will sign, execute and
deliver any and all necessary approvals, consents, bills of sale, assignments, or other documents reasonably required to complete
the transactions called for by this Agreement.

 

ARTICLE
8

PRE-CLOSING
COVENANTS OF SELLER

 

Seller
covenants and agrees to comply with each of the following provisions between the date hereof and the Closing Date:

 

Section
8.1.       No
Transfer of the Purchased Assets. Seller shall not enter
and has not entered into any agreement, arrangement, commitment or understanding to sell, transfer, assign, convey, pledge or
otherwise dispose of any interest in, or assets of, the Business except in the ordinary course of business.

 

Section
8.2.       Maintenance
of Status. Each Seller will be maintained at all times as
a duly organized corporation validly existing and in good standing under the laws of the State of Delaware.

 

Section
8.3.       Operation
of Business. Seller’s Business will operate and has
operated its business diligently and in the usual, regular and ordinary course and manner as it has been previously operated,
and (a) Seller will preserve Seller’s present business organization with respect to the Business intact; (b) preserve Seller’s
relationships with employees, owners, customers, clients, suppliers, and others having business dealings with the Business (except
as related to ordinary turnover); and (c) continue to provide the same kind, quality, frequency and timeliness of service
to each Business customer or client in a manner consistent with Seller’s past practices.

 

    	 	- 13 -	 

     

    

 

Section
8.4.       Actions Before the Closing Date. Seller will not take and has not
taken any action or permit any action to occur which shall cause Seller to be in breach of any representation, warranty, covenant
or agreement contained in this Agreement or cause Seller to be unable to perform in any material respect Seller’s obligations
hereunder and shall use commercially reasonable best efforts (subject to any conditions set forth in this Agreement) to perform
and satisfy all conditions to Closing to be performed or satisfied by Seller under this Agreement or any other agreement entered
into in connection herewith, including action necessary to obtain all consents and approvals of any person required to be obtained
by him or it to effect the transactions contemplated by this Agreement, or any other agreement entered into in connection herewith.

 

Section
8.5.       Access; Cooperation. Seller will provide and has provided Purchaser
and their accountants, attorneys and other authorized representatives, the right, upon reasonable notice and during normal business
hours, to enter Seller’s offices in order to inspect Seller’s records and business operations with respect to the
Business and to consult with the Seller officers and its legal and accounting advisors. Seller shall generally cooperate with
Purchaser and their officers, managers, employees, attorneys, accountants and other agents and, generally, do such other acts
and things in good faith as may be reasonable to timely effectuate the purposes of this Agreement and the consummation of the
transactions contemplated herein in accordance with the provisions of this Agreement.

 

Section
8.6.       Notification of Certain Matters. Seller shall give prompt notice
to Purchaser of:

 

(a)       the
occurrence, or failure to occur, of any event which occurrence or failure would be likely to cause any representations or warranties
contained in this Agreement to be untrue or inaccurate in any material respect at any time from the date hereof to the Closing
Date, and

 

(b)       any
failure to comply with or satisfy in any respect any covenant, condition or agreement to be complied with or satisfied by it hereunder.

 

Section
8.7.       Exclusivity. Seller shall not entertain, promote, seek, obtain, encourage,
or solicit any other third party to make a proposal or ascertain their interest in acquiring the assets, business, or client contacts
or information concerning the Business.

 

ARTICLE
9

PRE-CLOSING
COVENANTS OF PURCHASER

 

Purchaser
covenants and agrees to comply with each of the following provisions between the date hereof and the Closing Date:

 

Section
9.1.       Maintenance of Status. Purchaser will maintain or has maintained
itself, at all times as a duly organized corporation, validly existing under the laws of the State of Delaware.

 

    	 	- 14 -	 

     

    

 

Section
9.2.       Actions Before the Closing Date. Purchaser will not take and has
not taken any action or permit any action to occur which shall cause it to be in breach of any representation, warranty, covenant
or agreement contained in this Agreement or cause it to be unable to perform in any material respect its obligations hereunder
and shall use commercially reasonable best efforts (subject to any conditions set forth in this Agreement) to perform and satisfy
all conditions to Closing to be performed or satisfied by it under this Agreement or any other agreement entered into in connection
herewith, including action necessary to obtain all consents and approvals of any Person required to be obtained by it to effect
the transactions contemplated by this Agreement, or any other agreement entered into in connection herewith.

 

Section
9.3.       Confidentiality. Other than to Purchaser’s representatives
to whom disclosure is necessary in order for Purchaser to enter into this Agreement, such Purchaser has maintained, following
the Closing will maintain, the confidentiality of all disclosures made to it in connection with the transactions contemplated
by this Agreement.

 

Section
9.4.       Additional Notices and Covenants. Purchaser will give and has given
all notices to any governmental authority and other third parties required to be given by it in connection with the transactions
contemplated by this Agreement.

 

Section
9.5.       Notification of Certain Matters. Purchaser will give and has given
prompt notice to Seller of:

 

(a)       the
occurrence, or failure to occur, of any event which occurrence or failure would be likely to cause any of its representations
or warranties contained in this Agreement to be untrue or inaccurate in any material respect at any time from the date hereof
to the Closing Date, and

 

(b)       any
failure of it to comply with or satisfy in any respect any covenant, condition or agreement to be complied with or satisfied by
it hereunder. It shall use its commercially reasonable efforts to remedy promptly any such failure.

 

ARTICLE
10

POST-CLOSING
COVENANTS

 

Section
10.1.       Agreement Not to Compete. Seller and Purchaser acknowledge that
there are certain business overlaps between the Business and other partially or wholly-owned subsidiaries of Seller. Notwithstanding
these existing customer overlaps defined below, for a period of two (2) years from the Closing Date, Seller and Purchaser each
agree that it will not knowingly solicit, offer, perform or sell any of the identical products or services that are currently
sold directly to any existing active client of such other party in the continental United States (the “Restricted
Territory”). With regard to customers within the Defined Customer Overlap, Purchaser will not expand its current array
of services being performed for the overlapped customers in a way which would compete with the current business of the Seller,
or its partially or wholly-owned subsidiaries. Additionally, with regard to customers within the Defined Customer Overlap, Seller
will not expand its current array of services being performed for the overlapped customers in a way which would compete with the
Business. For purposes hereof, “Defined Customer Overlap” shall include AT&T, Juniper Networks, any and all clients
of SDN Essentials and any wholesale client of TNS, and Uline.Seller acknowledges that certain shareholders of Purchaser are
also shareholders of Carousel Industries of North America, Inc., a provider of telecommunication products and services. Seller
acknowledges that the restrictions in this Section shall not apply to any individual employee, shareholder, officer, director,
affiliate or agent of the Seller that is not a Key Employee.

 

    	 	- 15 -	 

     

    

 

Section
10.2.       Agreement
Not to Solicit. For a period of two (2) years from the Closing
Date, neither Seller nor Purchaser shall, directly or indirectly, solicit for employment or attempt to solicit otherwise, endeavor
to entice away, hire or retain any person who is an employee of such other party; further, if an employee of Seller or any partially
or wholly-owned subsidiary of Seller responds to a general solicitation or approaches Purchaser seeking employment without solicitation,
then Purchaser shall notify Seller within one business day, and not hire such person without Seller’s express written consent.
Seller acknowledges that certain shareholders of Purchaser are also shareholders of Carousel Industries of North America, Inc.,
a provider of telecommunication products and services. Seller acknowledges that the restrictions in this Section shall not apply
to any individual employee, shareholder, officer, director, affiliate or agent of the Seller that is not a Key Employee.

 

Section
10.3. Purchaser shall instruct all Key Employees to immediately return all customer lists and any other information related
to the Business which may have been gathered during the time that Seller has owned the Business, other than the Transferred Assets.
Further, Purchaser shall instruct all such Key Employees to maintain the confidentiality of all such information, and not share
such information with any other person. Such covenant is a material inducement to Seller entering into the transactions contemplated
by this Agreement.

 

ARTICLE
11

DISPUTE
RESOLUTIONS

 

Section
11.1.       Arbitration.
Except as hereinafter set forth in Section 11.2 below, if a dispute between the parties arises out of or is related to this
Agreement, or the breach of this Agreement, and if the dispute cannot be settled through direct discussions, the parties
agree to first endeavor to settle the dispute in an amicable manner by mediation under the Commercial Mediation Rules of the
American Arbitration Association. Thereafter, either party shall have the right to request arbitration by giving written
notice thereof to the other party, and in such event such arbitration shall be conducted by one arbitrator in accordance with
the rules of the American Arbitration Association. The arbitrator selected shall be a competent person experienced in the
subject matter of the issue in dispute to make such determination. The reasonable compensation of the arbitrator and the cost
of arbitration shall be borne equally by the parties. During arbitration, and as a condition to such arbitration, the parties
shall have limited discovery rights as directed by the arbitrator. Any award or determination made by the arbitrator may,
upon application of either party to any court of competent jurisdiction, be reduced to judgment by such court. The location
of any such arbitration hearing shall be in Chicago, Illinois.

 

Section
11.2.       Injunctive Relief. Notwithstanding the agreement to resolve disputes
and controversies by arbitration, as set forth and described in Section 11.1 above, Purchaser and Seller also agree that
they shall each have the right to seek injunctive relief in the event they believe they are about to suffer or incur irreparable
harm where money damages alone would be insufficient. In the event injunctive relief is sought and not obtained, then the party
who sought injunctive relief shall be obligated to reimburse the other party for any costs or expenses incurred by them, including
reasonable attorney fees and court costs, in defending against such action.

 

    	 	- 16 -	 

     

    

 

ARTICLE
12

SURVIVAL;
INDEMNIFICATION; TERMINATION

 

Section
12.1.       Survival
of Representations and Warranties Until Closing. The representations
and warranties of the parties in this Agreement shall terminate two (2) years after Closing.

 

Section
12.2.       Indemnification
by Seller. Seller agrees to indemnify and hold Purchaser
and their respective officers, managers, members, partners, employees, agents, successors and assigns, harmless against and in
respect of any and all damages, which Purchaser or any such indemnitee may suffer, incur or become subject to arising out of,
based upon or otherwise in respect of: (a) any inaccuracy in or breach of any representation or warranty of Seller made in or
pursuant to this Agreement or any other agreement, certificate or document entered into in connection with the transactions contemplated
hereunder; (b) any breach or nonfulfillment of any covenant or obligation of Seller contained in this Agreement or any other agreement,
certificate or document entered into in connection with the transactions contemplated hereunder; (c) any liability of Seller not
expressly assumed by Purchaser hereunder, including liabilities which are due by Seller to vendors or suppliers which are critical
to the continued business and success of the Business or (d) any liability relating to the UCC filings naming Bank Leumi as secured
party and either Seller as debtor, including, without limitation, all costs and expenses associated with releasing such filings.

 

Section
12.3.       Indemnification
by Purchaser. Purchaser shall indemnify and hold each Seller
and each of their officers, directors, shareholders, agents, successors, and assigns harmless against and in respect of any and
all damages which Seller or any such indemnitee may suffer, incur or become subject to arising out of, based upon or otherwise
in respect of: (a) any inaccuracy in or breach of any representation or warranty of Purchaser made in or pursuant to this Agreement
or any other agreement, certificate or document entered into in connection with the transactions contemplated hereunder, and (b)
any breach or nonfulfillment of any covenant or obligation of Purchaser contained in this Agreement or any other agreement, certificate
or document entered into in connection with the transactions contemplated hereunder.

 

Section
12.4.       Inter-Party Claims. Any party seeking indemnification pursuant to
this Section (the “Indemnified Party”) shall promptly notify in writing the other party or parties from whom
such indemnification is sought (the “Indemnifying
Party”) of the Indemnified Party’s assertion of such claim for indemnification, specifying the basis of such claim.
The Indemnified Party shall thereupon give the Indemnifying Party reasonable access to the books, records and assets of the Indemnified
Party which evidence or support such claim or the act, omission or occurrence giving rise to such claim and the right, upon prior
notice during normal business hours, to interview any appropriate personnel of the Indemnified Party related thereto.

 

    	 	- 17 -	 

     

    

 

Section
12.5.       Third
Party Claims.

 

(a)       Each
Indemnified Party shall promptly notify the Indemnifying Party of the assertion by any third party of any claim with respect to
which the indemnification set forth in this Section relates. The Indemnifying Party shall have the right, upon notice to the Indemnified
Party within twenty (20) business days after the receipt of any such notice, to undertake the defense of such claim with counsel
reasonably acceptable to the Indemnified Party, or, with the consent of the Indemnified Party (which consent shall not unreasonably
be withheld), to settle or compromise such claim. The failure of the Indemnifying Party to give such notice and to undertake the
defense of or to settle or compromise such a claim shall constitute a waiver of the Indemnifying Party’s rights under this
Section 12.5(a) and shall preclude the Indemnifying Party from disputing the manner in which the Indemnified Party may
conduct the defense of such claim or the reasonableness of any amount paid by the Indemnified Party in satisfaction of such claim.

 

(b)       The
election by the Indemnifying Party, pursuant to Section 12.5(a), to
undertake the defense of a third-party claim shall not preclude the party against which such claim has been made also from participating
or continuing to participate in such defense, so long as such party bears its own legal fees and expenses for so doing.

 

Section
12.6.       Indemnification Not Exclusive Remedy. The indemnification
obligations of the parties contained herein are not intended to waive or preclude any other claims, rights or remedies which
may exist at law (whether statutory or otherwise) or in equity with respect to the matters covered by the indemnifications.
Purchaser specifically reserves the right to set off against any amounts due to Seller for any indemnification claim
Purchaser may have against Seller.

 

Section
12.7.       Events
of Termination. This Agreement may, by notice given in the
manner hereinafter provided, be terminated and abandoned at any time prior to completion of the Closing, as follows:

 

(a)       by
Purchaser, if there has been a material misrepresentation or a material default or breach by Seller with respect to Seller’s
representations and warranties in Article 4 of this Agreement or the due and timely performance of any of the covenants or agreements
of Seller contained in this Agreement, and in the case of a covenant or agreement default or breach, such default or breach shall
not have been cured within thirty (30) days after receipt by Seller of notice specifying particularly such default or breach;

 

(b)       by
Seller if there has been a material misrepresentation or a material default or breach by Purchaser with respect to Purchaser’s
representations and warranties in Article 3 of this Agreement or the due and timely performance of any of the covenants
or agreements of Purchaser contained in this Agreement, and in the case of a covenant or agreement default or breach, such default
or breach shall not have been cured within thirty (30) days after receipt by Purchaser of notice specifying particularly such
default or breach;

 

    	 	- 18 -	 

     

    

 

(c)       by
either party at any time after February 28, 2017, if the Closing has not occurred and the party seeking to terminate this Agreement
is not in material breach or default of any provisions of this Agreement; or

 

(d)       by
unanimous agreement of both parties.

 

This Agreement may not be terminated after completion of the Closing.

 

Section
12.8.       Effect
of Termination. In the event this Agreement is terminated
pursuant to Section 12.7 of this Agreement, all obligations of the parties shall terminate without any liability of a party.

 

Section
12.9.       Limitation
on Liability. Notwithstanding anything to the contrary contained
herein, except as hereinafter provided, the aggregate liability of Purchaser for indemnification of losses and expenses pursuant
to Section 12.3 shall not exceed an amount equal to the Purchase Price actually paid through the date an indemnification
claim arises. Notwithstanding anything to the contrary contained herein, and except as hereinafter provided, the aggregate liability
of Seller for indemnification of losses and expenses pursuant to Section 12.2 shall not exceed an amount equal to the Purchase
Price actually paid through the date an indemnification claim arises. No limitation shall exist for any party for any claims based
on fraud. Likewise, no limitation shall exist for any party for any claims resulting from bad faith breaches of this Agreement.
Finally, no limitation shall apply for any breach of confidentiality or privacy issues.

 

ARTICLE
13

MISCELLANEOUS

 

Section
13.1.       Notices.
All notices shall be in writing and shall be delivered personally,
sent by e-mail transmission or sent by certified, registered or express mail, postage prepaid as follows:

 

	 	If
    to Purchaser:	HWN,
    Inc.
	 	 	 
	 	 	Attn:
    Mark Porter
	 	 	30
    N. Lincoln St. Suite G
	 	 	Batavia,
    IL 60510
	 	 	 
	 	with
    a copy to:	Daniel
    Coman, Esq.
	 	 	Ice
    Miller, LLP
	 	 	2300
    Cabot Drive, Ste. 455
	 	 	Lisle,
    IL 60532
	 	 	Daniel.Coman@icemiller.com
	 	 	 
	 	If
    to Seller:	InterCloud
    Systems, Inc.
	 	 	1030
    Broad Street, Suite 102 

Shrewsbury, NJ 07702
	 	 	Attn.:
    Tim Larkin
	 	 	E-mail:
    tlarkin@InterCloudsys.com

 

    	 	- 19 -	 

     

    

 

	 	with
    a copy to:	Pryor
    Cashman LLP
	 	 	7
    Times Square
	 	 	New
    York, NY 10036
	 	 	Attn.:
    M. Ali Panjwani, Esq.
	 	 	E-mail:
    ali.panjwani@pryorcashman.com

 

or
to such other address as may have been designated in a prior notice. Notices sent by registered or certified mail, postage prepaid,
return receipt requested, shall be deemed to have been given two (2) business days after being mailed, and otherwise notices shall
be deemed to have been given when received by the Person to whom the notice is addressed or any other Person with apparent authority
to accept notices on behalf of the Person to whom the notice is addressed.

 

Section
13.2.      Binding Effect. Except as may be otherwise provided herein, this Agreement
shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns. Nothing in
this Agreement is intended or shall be construed to confer on any Person other than the parties any rights or benefits hereunder.

 

Section
13.3.      Headings. The headings in this Agreement are intended solely for convenience
of reference and shall be given no effect in the construction or interpretation of this Agreement.

 

Section
13.4.      Schedules and Exhibits. The Schedules and Exhibits referred to in this
Agreement shall be deemed to be a part of this Agreement.

 

Section
13.5.      Counterparts. This Agreement may be executed in multiple

 

counterparts,
each of which shall be deemed an original, and all of which together shall constitute one and the same document.

 

Section
13.6.      Governing Law; Jurisdiction. This Agreement shall be governed by and construed
under Illinois law, without regard to conflict of laws principles. Except for injunctive relief, all disputes shall be resolved
by arbitration as provided in Section 11.1. In the event a party should seek injunctive relief or the enforcement of an
arbitrator’s award, each of the parties agrees that any such action may be commenced in the state courts located in DuPage
County, Illinois, or if there exists a basis for federal jurisdiction, the United States District Court for the Northern District
of Illinois, and such court shall have the sole and exclusive jurisdiction over any such proceeding. Any of these courts shall
be proper venue for any such lawsuit or judicial proceeding and the parties waive any objection to such venue. The parties consent
to and agree to submit to the jurisdiction of any of the courts specified herein and agree to accept service of process to vest
personal jurisdiction over them in any of these courts.

 

Section
13.7.      Waivers. Compliance with the provisions of this Agreement may be waived
only by a written instrument specifically referring to this Agreement and signed by the party waiving compliance. No course of
dealing, nor any failure or delay in exercising any right, shall be construed as a waiver, and no single or partial exercise of
a right shall preclude any other or further exercise of that or any other right.

 

    	 	- 20 -	 

     

    

 

Section
13.8.      Pronouns. The use of a particular pronoun herein shall not be restrictive
as to gender or number but shall be interpreted in all cases as the context may require.

 

Section
13.9.      No Strict Construction. The language used in this Agreement has been negotiated
by the parties and shall not be construed against either party.

 

Section
13.10.      Modification. No supplement, modification or amendment of this Agreement
shall be binding unless made in a written instrument which is signed by all of the parties and which specifically refers to this
Agreement. Further, this Agreement may be restated in its entirety if mutually agreed by all Parties.

 

Section
13.11.      Miscellaneous Covenants.

 

(a)       Expenses.
Each party shall pay all of its own expenses incident to the transactions contemplated by this Agreement.

 

(b)       No
Assignment. No assignment by any party of this Agreement or any right or obligation hereunder may be made without the prior
written consent of the other party and any assignment attempted without that consent will be void.

 

Section
13.12.      Further Assurances. The parties shall cooperate reasonably with each
other in connection with any steps required to be taken as part of their respective obligations under this Agreement, and shall
(a) furnish upon request to each other such further information; (b) execute and deliver to each other such other documents; and
(c) do such other acts and things, all as the other party may reasonably request for the purpose of carrying out the intent of
this Agreement and the transactions contemplated hereunder.

 

Section
13.13.      Public Announcements. Other than as may be required by federal securities
laws, any public announcement, press release or similar publicity with respect to this Agreement or the transactions contemplated
hereunder will be issued, if at all, at such time and in such manner as Purchaser and Seller determine. The parties will consult
with each other concerning and mutually agree upon the means by which Seller’s employees, customers, suppliers and others
having dealings with Seller will be infointed of the transactions contemplated hereunder.

 

Section
13.14.      Entire Agreement. This Agreement and the agreements and documents referred
to in this Agreement or delivered hereunder are the exclusive statement of the agreement among the parties concerning the subject
matter hereof. All negotiations among the parties are merged into this Agreement, and there are no representations, warranties,
covenants, understandings or agreements, oral or otherwise, in relation thereto among the parties other than those incorporated
herein and to be delivered hereunder.

 

    	 	- 21 -	 

     

    

 

INTENDING
TO BE LEGALLY BOUND, the parties have signed this Agreement as of the date first above written.

 

	HWN,
    INC.	 	ADEX
    CORPORATION
	 	 	 	 	 
	By:	/s/
    Mark W. Porter	 	By:	              
	Name	Mark
    W. Porter	 	Name	 
	Title:
    	President
    and CEO	 	Title:
    	 
	 	 	 	 	 
	 	 	 	INTERCLOUD
    SYSTEMS, INC.
	 	 	 	 	 
	 	 	 	By:	 
	 	 	 	Name	 
	 	 	 	Title:
    	 

 

Asset
Purchase Agreement

High Wire Networks, Inc.

 

     

     

    

 

INTENDING
TO BE LEGALLY BOUND, the parties have signed this Agreement as of the date first above written.

 

	HWN,
    INC.	 	ADEX
    CORPORATION
	 	 	 	 	 
	By:	               	 	By:	/s/
    Daniel  Sullivan
	Name	 	 	Name	Daniel
     Sullivan
	Title:
    	 	 	Title:
    	Chief
    Financial Officer
	 	 	 	 	 
	 	 	 	INTERCLOUD
    SYSTEMS, INC.
	 	 	 	 	 
	 	 	 	By:	/s/
    Daniel  Sullivan
	 	 	 	Name	Daniel
     Sullivan
	 	 	 	Title:
    	Chief
    Accounting Officer

 

Asset
Purchase Agreement

High Wire Networks, Inc.

 

     

     

    

 

SCHEDULES
AND EXHIBITS

 

	EXHIBITS:
    	 	 
	 	 	 
	Exhibit
    1.1	-	Bill
    of Sale
	 	 	 
	Exhibit
    1.5(b)(i)	-	Payment
    Statement
	 	 	 
	Exhibit
    1.5(f)	-	Purchase
    Price Allocation
	 	 	 
	Exhibit
    3.2	-	Purchaser
    Resolutions
	 	 	 
	Exhibit
    4.2	-	Seller
    Resolutions
	 	 	 
	SCHEDULES:
    	 	 
	 	 	 
	Schedule
    1.1(a)	-	Accounts
    Receivable
	 	 	 
	Schedule
    1.1(b)	-	Transferred
    Assets
	 	 	 
	Schedule
    1.1(f)	-	Intellectual
    Property
	 	 	 
	Schedule
    1.1(g)	-	Assigned
    Contracts
	 	 	 
	Schedule
    1.1(h)	-	Work-In-Progress
	 	 	 
	Schedule
    1.3(a)(i)	-	Accounts
    Payable
	 	 	 
	Schedule
    1.3(a)(v)	-	Accrued
    Commissions and Other Unpaid Accrued Expenses
	 	 	 
	Schedule
    1.4	-	Listing
    of Key Employees
	 	 	 
	Schedule
    4.3	-	Consents
	 	 	 
	Schedule
    4.7	-	Financial
    Statements of Seller
	 	 	 
	Schedule
    5.9	-	Seller’s
    Schedule of Liabilities
	 	 	 
	Schedule
    6.3	-	Purchaser’s
    Schedule of LiabilitiesExhibit 10.2

 

CONSENT

 

This
Consent (“Consent”), dated as of February 28, 2017, is made by JGB (Cayman) Waltham Ltd. (“JGBWL”) and
the JGB (Cayman) Concord Ltd. (“JGBCL” and together, the “Holders” and each a “Holder”) in
favor of interCloud Systems, Inc., a Delaware corporation (the “Company”) and the guarantor’s
executing this consent (the “Guarantors”).

 

WHEREAS,
JGBWL is the holder of that certain Third Amended and Restated Senior Secured Convertible Debenture due May 31, 2019 (the “Debenture”);

 

WHEREAS,
JGBCL is the holder of that certain Second Amended and Restated Senior Secured Convertible Note due May 31, 2019 (the “Note”);

 

WHEREAS,
the Company is liable to JGBCL in the amount of $814,500 pursuant to Section 4 of that certain Acknowledgement, dated as of June
23, 2016, by and among the Holders, the Company and VaultLogix, LLC (the “True-Up Payment”);

 

WHEREAS,
the Company, ADEX Corporation (a wholly-owned subsidiary of the Company and a guarantor of the Note and the True-Up Payment) (“Seller”)
and HWN, Inc. (“HWN”) intend to enter into an Asset Purchase Agreement in substantially the form attached
hereto as Exhibit A (the “High Wire Agreement”) whereby, among other things, Seller will sell certain
assets to HWN (the “High Wire Sale”);

 

WHEREAS,
each Article 7 of the Debenture and Article 7 of the Note prohibit the Company and Seller from entering into High Wire Agreement
and consummating the High Wire Sale without the prior written approval of the Holders;

 

WHEREAS,
the Company and Seller desire to apply a portion of the gross proceeds from the High Wire Sale equal to $3,625,000, first, to
the payment in full of the True-Up Payment, second, to accrued and unpaid interest under the Note, in the amount of $32,170, and
third, to the partial prepayment of $2,525,754.54 the Note pursuant to Section 2(d) thereof for a prepayment amount of $2,778,330
(together, the “Payments”);

 

WHEREAS,
the Holders are willing to consent to the High Wire Sale in consideration of JGBCL’s receipt of the Payments; and

 

WHEREAS,
pursuant to Section 9(e) of the Debenture and Section 9(e) of the Note, the consent requested by the Company to permit the
High Wire Sale and the Company’s and Seller’s entry into the High Wire Agreement must be contained in a written agreement
signed by the Company and the Holders;

 

    

     

    

 

NOW,
THEREFORE, in consideration of the premises set forth above and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:

 

I.           Consent.
As of the Effective Date (defined below), notwithstanding the provisions of Section 7(a)(iv) of the Debenture and Section 7(a)(iv)
of the Note, the Holders hereby consent to the Company’s and the Seller’s entry into the High Wire Agreement and the High Wire
Sale (collectively, the “Transaction”). The Holders further consent to the filing by Seller or any of its designees
of a partial release with the Delaware and New York Secretaries of State on form UCC-3 (which shall be subject to the prior review
and comment of the Holders), deleting from the collateral the Transferred Assets, as defined and described in the High Wire Agreement,
upon confirmation of receipt by Holders of the Payments.

 

2.           Limitation
of Consent. Without limiting the generality of Section 9(e) of the Debenture, the consent set forth above shall be limited
precisely as written and relates solely to the provisions of Section 7(a)(iv) of the Debenture and Section 7(a)(iv) of the Note
in the manner and to the extent described above and nothing in this Consent shall be deemed to:

 

(a)       Constitute
a waiver of compliance by the Company or any Guarantor with respect to any other term, provision or condition of the Debenture,
the Note or any other instrument or agreement executed by the Company or any Guarantor in connection therewith; or

 

(b)       Prejudice
any right or remedy the Holders may have in the future under or in connection with the Debenture, the Note or any other instrument
or agreement executed by the Company or any Guarantor in connection therewith.

 

3.           Conditions
Precedent. This Consent shall become effective upon the date (the “Effective Date”) on which the Company
has executed and delivered the High Wire Agreement and any and all documents, certificates, instructions, requests, or other instruments
required to be delivered thereunder, to HWN. The Company and Seller shall cause HWN’s lenders to deliver the Payments directly
JGBCL. This Consent shall automatically be deemed to be rescinded and of no further force and effect if the Payments have not
been received by JGBCL by February 28, 2017.

 

    2

     

    

 

4.          
Amendments.

 

		a.	Section
                                         1 of the Debenture is hereby amended by replacing the reference to “$0.2043”
                                         in the definition of “Fixed Conversion Price” with “$0.04.”

 

		b.	Section
                                         4(b) of the Debenture is amended and restated in its entirety as follows:

 

“(b)
Conversion Price. The conversion price (the “Conversion Price”) in effect on any Conversion Date shall
be equal to the lower of: (a) the Fixed Conversion Price and (b) 80% of the lowest daily VWAP for the thirty (30) consecutive
Trading Day period immediately preceding the applicable Conversion Date.”

 

		c.	Section
                                         1 of the Nate is hereby amended by replacing the reference to “$0.2043” in
                                         the definition of “Fixed Conversion Price” with “$0.04.”

 

		d.	Section
                                         4(b) of the Note is hereby amended and restated in its entirety as follows:

 

“(b)
Conversion Price. The conversion price (the “Conversion Price”) in effect on any Conversion Date shall
be equal to the lower of: (a) the Fixed Conversion Price and (b) 80% of the lowest daily VWAP for the thirty (30) consecutive
Trading Day period immediately preceding the applicable Conversion Date.”

 

		e.	Section
                                         15(e) of the Amended and Restated Senior Secured Note issued May 17, 2016, by the Company
                                         in favor of JGBWL (the “Baby Note”) is amended by replacing the reference
                                         to “$0.2043” therein with “$0.04.”

 

		f.	Section
                                         2(b) of the Baby Nate, is amended and restated in its entirety as follows:

 

“(b)
Conversion Price. The conversion price (the “Conversion Price”) in effect on any Conversion Date shall
be equal to the lower of: (a) the Fixed Conversion Price and (b) 80% of the lowest daily VWAP for the thirty (30) consecutive
Trading Day period immediately preceding the applicable Conversion Date.”

 

5.          
No Modifications. Except as set forth in Section 4, nothing contained in this Consent shall be deemed or construed to amend,
supplement or modify the Debenture, the Note or any other instrument or agreement executed by the Company or any Guarantor in
connection therewith, or otherwise affect the rights and obligations of any party thereto, all of which remain in full force and
effect.

 

    3

     

    

 

6.           Representations
and Warranties. The Company represents and
warrants to the Holders that, as of the date hereof, (i) no Event of Default under the Debenture or the Note has occurred or is
continuing and (ii) the Company and each Guarantor has complied in all material respects with their respective obligations under
any and all instruments or agreements executed by the Company or any Guarantor in connection with the transactions contemplated
by the Debenture and the Note.

 

7.           Successors and Assigns. This Consent shall inure to the benefit of and be binding upon the Company and the Holders, and
each of their respective successors and assigns.

 

8.           Governing
Law. This Consent shall be governed by, and
construed in accordance with, the laws of the State of New York. The parties agree that the state and federal courts located in
New York County, New York shall have exclusive jurisdiction over any action, proceeding or dispute arising out of this Consent
and the parties submit to the personal jurisdiction of such courts.

 

9.           Counterparts.
This Consent may be executed in any number of
counterparts, all of which shall constitute one and the same agreement, and any party hereto may execute this Consent by signing
and delivering one or more counterparts. Delivery of an executed counterpart of this Consent electronically or by facsimile shall
be effective as delivery of an original executed counterpart of this Consent.

 

10.         Disclosure.
Company confirms that neither it nor any other person or entity acting on its behalf has provided Holders or their counsel with
any information that constitutes or might constitute material, nonpublic information. The Company will disclose the material terms
of this Consent and the transactions contemplated hereby by not later than 8 a.m. on March 1, 2018, or such earlier time as may
be required by law, by means of a Current Report on Form 8-K filed with the Securities and Exchange Commission. Such Current Report
on Form 8-K shall include the High Wire Agreement, and any other material agreement related to the foregoing. The Current Report
on Form 8-K shall be subject to the prior review and comment of the Holders. From and after the filing of the Current Report on
Form 8-K with the Securities and Exchange Commission, the Company acknowledges and agrees that the Holders shall not be in possession
of any material, nonpublic information received from the Company or any person acting on its behalf.

 

11.         Expense Reimbursement. The Company shall have reimbursed the Holders for the fees of its outside counsel in the sum of
$65,000 by wire transfer of immediately available funds to the account of outside counsel provided to the Company.

 

[SIGNATURE
PAGE FOLLOWS]

 

    4

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Consent as of the date first above written.

 

	 	lnterCloud
    Systems, Inc., as Company
	 	 	 
	 	By	/s/
    Daniel Sullivan
	 	 	 
	 	Name:
    Daniel Sullivan
	 	Title:
    Chief Accounting Officer
	 	 	 
	 	JGB
    (Cayman) Waltham Ltd., as Holder
	 	 	 
	 	By	/s/
    Brett Cohen
	 	 	 
	 	Name:
    Brett Cohen
	 	Title:
    President
	 	 	 
	 	JGB
    (Cayman) Concord Ltd., as Holder
	 	 	 
	 	By	/s/
    Brett Cohen
	 	 	 
	 	Name:
    Brett Cohen
	 	Title:
    President

 

[Signature
page to Consent re: AWS and HighWire]

 

    

     

    

 

ACKNOWLEDGED:

 

	T
    N S, INC.	 	INTEGRATION
    PARTNERS – NY CORPORATION
	 	 	 	 	 
	By:	/s/
    Daniel Sullivan	 	By:	/s/
    Daniel Sullivan
	Name:	Daniel
    Sullivan	 	Name:	Daniel
    Sullivan
	Its:	Chief
    Accounting Officer	 	Its:	Chief
    Accounting Officer
	 	 	 	 	 
	ADEX
    CORPORATION	 	AW
    SOLUTIONS, INC.
	 	 	 	 	 
	By:	/s/
    Daniel Sullivan	 	By:	/s/
    Daniel Sullivan
	Name:	Daniel
    Sullivan	 	Name:	Daniel
    Sullivan
	Its:	Chief
    Financial Officer	 	Its:	Chief
    Accounting Officer
	 	 	 	 	 
	RENTYM
    INC.	 	ADEX
    PUERTO RICO LLC
	 	 	 	 	 
	By:	/s/
    Daniel Sullivan	 	By:	/s/
    Daniel Sullivan
	Name:	Daniel
    Sullivan	 	Name:	Daniel
    Sullivan
	Its:	Chief
    Accounting Officer	 	Its:	Chief
    Financial Officer
	 	 	 	 	 
	ADEXCOMM
    CORPORATION	 	TROPICAL
    COMMUNICATIONS, INC.
	 	 	 	 	 
	By:	/s/
    Daniel Sullivan	 	By:	/s/
    Daniel Sullivan
	Name:	Daniel
    Sullivan	 	Name:	Daniel
    Sullivan
	Its:	Chief
    Financial Officer	 	Its:	Chief
    Accounting Officer
	 	 	 	 	 
	AW
    SOLUTIONS PUERTO RICO, LLC	 	RIVES
    MONTEIRO LEASING, LLC
	 	 	 	 	 
	By:	/s/
    Daniel Sullivan	 	By:	/s/
    Daniel Sullivan
	Name:	Daniel
    Sullivan	 	Name:	Daniel
    Sullivan
	Its:	Chief
    Accounting Officer	 	Its:	Chief
    Accounting Officer
	 	 	 	 	 
	RIVES
    MONTEIRO ENGINEERING, LLC	 	NOTTINGHAM
    ENTERPRISES, LLC
	 	 	 	 	 
	By:	/s/
    Daniel Sullivan	 	By:	/s/
    Daniel Sullivan
	Name:	Daniel
    Sullivan	 	Name:	Daniel
    Sullivan
	Its:	Chief
    Accounting Officer	 	Its:	Chief
    Accounting Officer
	 	 	 	 	 
	VAULTLOGIX,
    LLC	 	 	 
	 	 	 	 	 
	By:	/s/
    Daniel Sullivan	 	 	 
	Name:	Daniel
    Sullivan	 	 	 
	Its:	Chief
    Accounting Officer	 	 	 

 

[GUARANTOR
ACKNOWLEDGEMENT TO CONSENT DATED FEBRUARY [__], 2017]

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