Document:

ARC Group Worldwide 8-K

 

Exhibit
10.28

 

ARC Group
Worldwide, Inc.

 

3D Material
Technologies, LLC

 

Advance
Tooling Concepts, LLC

 

Advanced
Forming Technology, Inc.

 

ASSIGNMENT
AND ASSUMPTION agreement

 

THIS ASSIGNMENT AND ASSUMPTION
AGREEMENT (this “Agreement”) is made effective this 7th day of April, 2014 by and between
ARC Group Worldwide, Inc. (“ARC”), 3D Material Technologies, LLC (“3D Material”), Advance Tooling
Concepts, LLC (“ATC”) and Advanced Forming Technology, Inc. (“AFT”).

 

WITNESSETH:

 

WHEREAS, ARC entered
into that certain Membership Interest Purchase Agreement by and among ARC, Nigel Sutton, Gregory Curtis, Frank Ferree, and Dermot
Rafferty having an effective date of April 7, 2014, with respect to the acquisition of all of the membership interests of Advance
Tooling Concepts, LLC, a Colorado limited liability company, attached hereto as Exhibit A and made a part hereof (the “MIPA”),
whereby ARC agreed to, among other things, acquire the Interests (as such term is defined in the MIPA) from Nigel Sutton, Gregory
Curtis, Frank Ferree, and Dermot Rafferty, upon the terms and conditions set forth in the MIPA; and

 

WHEREAS, pursuant
to Section 11.11 of the MIPA, ARC has the right, upon notice to Sellers at any time at or prior to Closing, without consent of
Sellers and without any further action required on the part of Sellers, to assign any and all rights of ARC to any subsidiary of
ARC; and

 

WHEREAS, Except
with respect to the Lease Agreements (as such term is defined in the MIPA), ARC desires to assign all of its rights, interests
and obligations under the MIPA to 3D Material, and 3D Material is willing to accept the assignment of ARC’s rights, interests
and obligations under the MIPA pursuant to the terms and conditions hereinafter set forth; and

 

WHEREAS, ARC desires
to assign its rights, interests and obligations with respect to the Lease Agreements to AFT, a wholly owned subsidiary of ARC and
affiliate of 3D Material, and AFT desires to assume any and all such rights, interests and obligations with respect to the Lease
Agreements pursuant to the terms and conditions hereinafter set forth.

 

NOW, THEREFORE,
the parties hereto, intending to be legally bound hereby, agree as follows:

 

    	 

    	 

    

 

1.         Defined Terms.
All capitalized terms used but not otherwise defined herein shall have the meaning ascribed to such terms in the MIPA, the terms
and conditions of which are incorporated herein by reference.

 

2.         Assignment
and Acceptance. Except with respect to all rights and interests under the MIPA to the Lease Agreements, ARC hereby assigns
all of its rights and interests under the MIPA to 3D Material, and 3D Material accepts the assignment of all ARC rights and interests
under the MIPA (the “Global Assignment”). ARC hereby assigns all of its rights and interests with respect to the Lease
Agreements under the MIPA to AFT, and AFT accepts the assignment of all ARC rights and interests under the MIPA (the “Lease
Assignment”).

 

3.         Assumption
of Obligations. Except for obligations with respect to the Lease Agreements assumed by AFT, 3D Material hereby
assumes and undertakes to perform any and all obligations of ARC under the MIPA, provided, however, nothing herein shall be
construed to release ARC from any representations, warranties, covenants or other obligations to the Sellers under the MIPA,
in the event that 3D Material does not perform any and all such obligations of ARC under the MIPA. ARC hereby delegates all
of its obligations with respect to the Lease Agreements under the MIPA to AFT, and AFT hereby assumes and undertakes to
perform any and all obligations of ARC under the MIPA with respect to the Lease Agreements, including, without limitation,
the assumption of all obligations in connection with the assignment of personal guaranty thereof as contemplated in the MIPA,
and ARC is hereby released from any and all representations, warranties, covenants or other obligations to the Sellers under
the MIPA in respect of the Lease Agreements. AFT undertakes and agrees to make any and all lease payments in connection with
the Lease Agreements quarterly in advance. Except with respect to the Global Assignment and the Lease Assignment set forth in
Paragraph 2 above, and the provisions of this Paragraph 3, this Agreement is not intended and shall not be construed or
deemed to amend, modify or supercede any terms or conditions of the MIPA.

 

4.         Applicable
Law. This Agreement shall be governed, construed, and enforced in accordance with the laws of the State of New York without
regard to any choice of law or conflict of law provisions that would cause the application of laws of any other jurisdiction other
than the State of New York.

 

5.         Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute
one and the same instrument. This Agreement may be delivered via facsimile or any other mode of electronic transmission, each of
which shall be an original for all purposes.

 

[Signature Page Follows]

 

    	2

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be signed as of the date and year first above written.

 

	ARC GROUP WORLDWIDE, INC.,	 
	a Utah corporation	 
	 	 	 
	By:	/s/ Jason Young	 
		Name: Jason Young	 
		Title: Chief
Executive Officer	 
	 	 	 
	3D MATERIAL TECHNOLOGIES, LLC,	 
	a Delaware limited liability company	 
	 	 	 
	By:	/s/ Jason Young	 
		Name: Jason Young	 
		Title: Chief
Executive Officer	 
	 	 	 
	ADVANCED FORMING TECHNOLOGY, INC.	 
	a Colorado limited liability company	 
	 	 	 
	By:	/s/ Jason Young	 
		Name: Jason Young	 
		Title: Chief
Executive Officer	 

 

	/s/ Nigel Sutton	 
	Nigel Sutton	 
	 	 
	/s/ Frank Ferree	 
	Frank Ferree	 
	 	 
	/s/ Gregory Curtis	 
	Gregory Curtis	 
	 	 
	/s/ Dermot Rafferty	 
	Dermot Rafferty	 

 

[Signature page to the Assignment and Assumption
Agreement]

 

    	3ARC Group Worldwide 8-K 

 

Exhibit 10.29

 

EXECUTION COPY

 

 

 

 PURCHASE AGREEMENT

 

 

among

 

PRECISION CASTPARTS CORP.

 

THIXOFORMING LLC

 

and

 

ADVANCED
FORMING TECHNOLOGY, INC.

 

April 7, 2014

 

* Information marked with an asterisk
herein has been omitted and filed separately with the Commission pursuant to a request for confidential treatment.

 

    	 

    	 

    

 

	ARTICLE 1	PURCHASE AND SALE	 	1
	 	 	 	 
	1.1	Definitions	 	1
	1.2	Purchase and Sale	 	1
	1.3	Purchase Price	 	1
	1.4	Closing	 	1
	1.5	Closing Deliveries	 	1
	1.6	Operating Cash	 	2
	1.7	Post-Closing Payment	 	2
	 	 	 	 
	ARTICLE 2	REPRESENTATIONS AND WARRANTIES OF SELLER		4
	 	 	 	 
	2.1	Existence; Authority	 	4
	2.2	Capitalization	 	4
	2.3	No Adverse Consequences	 	5
	2.4	Litigation	 	5
	2.5	Compliance with Laws	 	5
	2.6	Absence of Certain Changes	 	5
	2.7	Real Property	 	7
	2.8	Assets	 	8
	2.9	Certain Contracts and Arrangements	 	8
	2.10	Taxes	 	9
	2.11	Reference Financial Statements	 	9
	2.12	Environmental Conditions	 	10
	2.13	Intellectual Property	 	10
	2.14	Brokers and Finders	 	11
	2.15	Inventory	 	11
	2.16	Accounts Receivable	 	11
	2.17	Powers of Attorney	 	11
	2.18	Insurance	 	11
	2.19	Employees	 	12
	2.20	Employee Benefits	 	12
	2.21	Customers and Suppliers	 	14
	2.22	Certain Business Relationships With Affiliates	 	14
	2.23	Books and Records	 	14
	2.24	No Undisclosed Material Liabilities	 	14
	2.25	Product Liability	 	15
	2.26	Permits and Licenses	 	15
	2.27	Disclaimer of Other Representations and Warranties	 	15
	 	 	 	 
	ARTICLE 3	REPRESENTATIONS AND WARRANTIES OF BUYER	 	16
	 	 	 	 
	3.1	Existence	 	16
	3.2	Authorization and Binding Obligation	 	16
	3.3	Absence of Conflicting Agreements or Required Consents	 	16
	3.4	Brokers and Finders	 	16
	3.5	Litigation and Administrative Proceedings	 	16
	3.6	Purchase for Investment	 	16
	3.7	Due Diligence Investigation	 	17

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	 

    	 

    

 

	3.8	Disclaimer of Other Representations and Warranties	 	17
	 	 	 	 
	ARTICLE 4	POST-CLOSING COVENANTS	 	17
	 	 	 	 
	4.1	General	 	17
	4.2	Litigation Support	 	18
	4.3	Access to Information	 	18
	4.4	Employee Matters	 	18
	4.5	Medical and Dental Plan Coverage	 	19
	4.6	Other Transition Services	 	19
	4.7	Accounts	 	20
	 	 	 	 
	ARTICLE 5	TAX MATTERS	 	20
	 	 	 	 
	5.1	Returns and Payment of Taxes	 	20
	5.2	Cooperation on Tax Matters	 	21
	5.3	Transfer Taxes	 	22
	5.4	Tax Refunds	 	22
	 	 	 	 
	ARTICLE 6	INDEMNIFICATION	 	22
	 	 	 	 
	6.1	Survival of Representations and Warranties	 	22
	6.2	Indemnification by Seller	 	23
	6.3	Indemnification by Buyer	 	23
	6.4	Limits on Indemnification	 	24
	6.5	Notice of Loss; Third Party Claims	 	25
	6.6	Character of Indemnification Payments	 	26
	6.7	Exclusive Remedy	 	26
	 	 	 	 
	ARTICLE 7	GENERAL PROVISIONS	 	26
	 	 	 	 
	7.1	Expenses	 	26
	7.2	Confidentiality	 	26
	7.3	Notices	 	27
	7.4	Public Announcements; Use of Seller’s Name, Logo or Trade Dress	 	28
	7.5	Severability	 	28
	7.6	Entire Agreement	 	29
	7.7	Assignment	 	29
	7.8	Amendment	 	29
	7.9	Waiver	 	29
	7.10	No Third Party Beneficiaries	 	29
	7.11	Specific Performance	 	29
	7.12	Governing Law	 	30
	7.13	Arbitration	 	30
	7.14	Further Action	 	30
	7.15	Counterparts; Facsimiles	 	30
	 	 	 	 
	Exhibit A	Definitions	 	 

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	 

    	 

    

 

PURCHASE AGREEMENT

 

This PURCHASE AGREEMENT
(this “Agreement”), dated as of April 7, 2014, is among Thixoforming LLC, a Colorado limited liability company (the “Company”),
Precision Castparts Corp., an Oregon corporation (“Seller”), and Advanced Forming Technology, Inc., a Colorado
corporation (“Buyer”). Each of Seller, the Company and Buyer sometimes referred to herein as a “Party”
and, collectively, as the “Parties”.

 

Recitals

 

		A.	The Company has settled all of its obligations to Seller and its Affiliates.

 

		B.	Buyer wishes to purchase the Company. Seller wishes to transfer or cause to be transferred to Buyer all of its interest in the Company.

 

Agreement

 

In consideration of the
covenants and agreements contained herein and the other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Company, Seller and Buyer agree as follows:

 

Article 1

PURCHASE AND SALE

 

		1.1	Definitions. Unless defined elsewhere in this Agreement, capitalized terms have the meaning
set forth in Exhibit A. 

 

		1.2	Purchase and Sale. Upon the terms and subject to the conditions of this Agreement, at the
Closing, Seller shall sell, assign, transfer, convey and deliver to Buyer, and Buyer shall purchase and acquire, all right, title
and interest in and to the Interest, in each case free and clear of any and all Encumbrances.

 

		1.3	Purchase Price. [______________]*. At the Closing, Buyer shall pay the Estimated Purchase
Price by wire transfer of immediately available funds to an account designated by Seller.

 

		1.4	Closing. Subject to the terms and conditions of this Agreement, the sale and purchase of
the Interest contemplated by this Agreement will take place at a closing (the “Closing”) held at the offices of
Stoel Rives LLP, 900 SW Fifth Avenue, Portland, Oregon concurrent with the signing of this Agreement. The Closing is deemed to
have occurred at 12:01 a.m. Pacific time on the Closing Date.

 

		1.5	Closing Deliveries.

 

		(a)	At the Closing, Seller shall deliver to Buyer (i) an Interest Assignment in a form mutually agreed
upon between the Seller and Buyer (“Interest Assignment”) duly signed by an officer of Seller, and (ii) evidence
that the officers and directors of the Company have resigned or been removed from those positions on or before the Closing.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	1

    	 

    

 

		(b)	At the Closing, Buyer shall deliver to Seller or cause to be delivered to Seller (i) an Interest
Assignment duly signed by an officer of Buyer and (ii) the payoff letter in a form mutually agreed upon between the Seller and
Buyer (the “Payoff Letter”) duly signed by an officer of ARC Group Worldwide, Inc. and payment of the amounts
described therein by wire transfer of immediately available funds to an account designated by Seller.

 

		1.6	Operating Cash. At Closing, the Company shall have not less than Ten Thousand Dollars ($10,000)
in Acquired Company Cash.

 

		1.7	Post-Closing Payment. 

 

		(a)	Preparation of Closing Statement. Within five days after the Closing Date, Buyer shall deliver
to Seller its proposed (i) Closing Balance Sheet, prepared in accordance with the Accounting Standards, (ii) calculation of Closing
Net Book Value, derived from the Closing Balance Sheet and prepared consistent with the Closing Net Book Value Example, and (iii)
Post-Closing Adjustment, each prepared in good faith. The “Post-Closing Adjustment” is an amount equal to Closing
Net Book Value, as finally determined pursuant to this Section 1.7, minus the Estimated Purchase Price. If the Post-Closing Adjustment
is a positive number, Buyer shall pay Seller an amount equal to the Post-Closing Adjustment in accordance with Section 1.7(g).
If the Post-Closing Adjustment is a negative number, Seller shall pay Buyer an amount equal to the Post-Closing Adjustment in accordance
with Section 1.7(g).

 

		(b)	Examination. Seller will have ten days after receipt of the Closing Statement (the “Review
Period”) to review the Closing Statement.

 

		(c)	Objection. On or before the last day of the Review Period, Seller may object to Buyer’s
proposed Closing Balance Sheet, Closing Net Book Value, and Post-Closing Adjustment by delivering to Buyer a written statement
setting forth Seller’s objections in reasonable detail, indicating each disputed item or amount and the basis for Seller’s disagreement
(the “Statement of Objections”). If Seller fails to deliver the Statement of Objections before the expiration
of the Review Period, the proposed Closing Balance Sheet, Closing Net Book Value, and Post-Closing Adjustment reflected in the
Closing Statement are deemed accepted by Seller. If Seller delivers a Statement of Objections before the expiration of the Review
Period, Seller and Buyer shall negotiate in good faith to resolve such objections within 15 days after the delivery of the Statement
of Objections (the “Resolution Period”). If the objections are resolved within the Resolution Period, the Closing
Balance Sheet, Closing Net Book Value, and Post-Closing Adjustment, with changes agreed in writing by Seller and Buyer, will be
final and binding.

 

* Information marked with an asterisk
herein has been omitted and filed separately with the Commission pursuant to a request for confidential treatment.

 

    	2

    	 

    

 

		(d)	Resolution of Disputes. If Buyer and Seller fail to reach an agreement with respect to all
of the matters set forth in the Statement of Objections before the Resolution Period expires, Buyer and Seller shall submit any
amounts remaining in dispute (“Disputed Amounts”) for resolution to an impartial nationally recognized firm of
independent certified public accountants other than Buyer’s or Seller’s accountants (the “Independent Accountant”).
The Independent Account will act as an expert subject to the terms of this Section 2.4 and not an arbitrator, and shall resolve
the Disputed Amounts only and make any adjustments to the Closing Balance Sheet, Closing Net Book Value, and Post-Closing Adjustment
in accordance with the Accounting Standards. Buyer and Seller agree that all adjustments will be made without regard to materiality.
The Independent Accountant shall only decide the specific items under dispute by Buyer and Seller, and its decision for each Disputed
Amount must be within the range of values assigned to each item in the Closing Balance Sheet, Closing Net Book Value, and Post-Closing
Adjustment set forth in the Closing Statement and the Statement of Objections, respectively.

 

		(e)	Fees of the Independent Accountants. Buyer shall pay a portion of the fees and expenses
of the Independent Accountant equal to 100% multiplied by a fraction, the numerator of which is the amount of Disputed Amounts
submitted to the Independent Accountant that are resolved in favor of Seller (i.e., the difference between the Independent
Accountant’s determination and Buyer’s determination) and the denominator of which is the total amount of Disputed Amounts submitted
to the Independent Accountant (i.e., the sum total by which Seller’s determination and Buyer’s determination differ from
the determination of the Independent Accountant). Seller shall pay that portion of the fees and expenses of the Independent Accountant
that Buyer is not required to pay under this paragraph.

 

		(f)	Determination by Independent Accountant. The Independent Accountant shall make a determination
as soon as practicable within 30 days (or such other time as Buyer and Seller agree in writing) after its engagement. The Independent
Accountant’s resolution of the Disputed Amounts and adjustments to Closing Balance Sheet, Closing Net Book Value, and Post-Closing
Adjustment is conclusive and binding upon the Parties.

 

		(g)	Payments of Post-Closing Adjustment. Payment of the Post-Closing Adjustment, together with
interest calculated as set forth below, is due (i) within three Business Days of acceptance of the Closing Statement or (ii) if
there are Disputed Amounts, then within three Business Days of the resolution of the Disputed Amounts. The Post-Closing Adjustment
must be paid by wire transfer of immediately available funds to the account directed by Buyer or Seller, as the case may be. The
amount of any Post-Closing Adjustment bears interest from and including the Closing Date to, but excluding, the date of payment
at a rate per year equal to the rate of interest published by the Wall Street Journal as the “prime rate” at large
U.S. money center banks. Interest is calculated daily on the basis of a 365 day year and the actual number of days elapsed, compounded
daily.

 

* Information
marked with an asterisk herein has been omitted and filed separately with the Commission pursuant to a request for confidential
treatment.

 

    	3

    	 

    

 

Article 2

REPRESENTATIONS AND WARRANTIES

OF SELLER

 

Except as set forth in
the Due Diligence Schedules delivered to the Buyer at Closing (the “Due Diligence Schedules”), Seller hereby represents
and warrants with respect to the Company to Buyer as follows:

 

		2.1	Existence; Authority.

 

		(a)	Seller is a corporation duly organized and validly existing under the Laws of the state of Oregon.
Seller has full corporate power and authority, as applicable, to enter into this Agreement and to carry out its respective terms.
Seller has taken all corporate action necessary to authorize the execution, delivery, and performance of this Agreement. This Agreement
has been duly and validly executed and delivered by Seller. This Agreement is binding upon and enforceable against Seller in accordance
with its terms, except as enforceability may be limited or affected by (i) applicable bankruptcy, insolvency, reorganization, moratorium,
or other Laws of general application relating to or affecting creditors’ rights and remedies generally and (ii) rules of Law governing
specific performance, injunctive relief, or other equitable remedies.

 

		(b)	The Company is a limited liability company duly organized and validly existing under the Laws of
Colorado. The Company is duly qualified or licensed to do business as a foreign entity in each jurisdiction in which it owns or
leases real property and each other jurisdiction in which the conduct of its business requires such qualification, except where
the failure to be so qualified would not, individually or in the aggregate, be reasonably expected to cause a Material Adverse
Effect on the Company, taken as a whole. The Company has all necessary limited liability company power and authority to own, lease,
and operate its properties and assets and to carry on its business as now conducted. The Company has no subsidiaries.

 

		2.2	Capitalization. Seller has (a) the entire right, title, and interest in and to the Interest,
and (b) full right, power, capacity, and authority to validly sell, assign, convey, and transfer the Interest to Buyer. If and
when transferred to Buyer as provided in this Agreement, the Interest will be transferred free and clear of all Encumbrances (other
than Encumbrances granted by Buyer). Seller has not granted or agreed, directly or indirectly, to grant to any other Person a right,
whether absolute or contingent, to purchase or acquire any Interest, and no Person (other than Buyer) has any such right, through
the exercise of any convertible instrument or rights under any agreement, pledge, or by operation of Law or otherwise.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	4

    	 

    

 

		2.3	No Adverse Consequences. The execution, delivery, and performance of this Agreement by Seller
(a) does not require Seller or the Company (i) to obtain the consent, approval, or authorization of any Governmental Authority
having jurisdiction over Seller other than such filings as may be required under any reports under the Securities Exchange Act
of 1934, as amended, filings with the New York Stock Exchange, and consents, approvals, or authorization not required to be obtained
until after Closing or (ii) to submit or file of any notice, report, or other filing with any Governmental Authority having jurisdiction
over Seller other than such filings as may be required under any Competition Law, reports under the Securities Exchange Act of
1934, as amended, filings with the New York Stock Exchange, and filings not required to be obtained until after Closing; (b) will
not violate any Law, judgment, order, injunction, decree, or ruling of any Governmental Authority applicable to Seller; and (c)
will not, either alone or with the giving of notice or the passage of time or both, conflict with, constitute grounds for termination
of, or result in a breach of the terms, conditions or provisions of, or constitute a default under any Material Contract or Permit
that would, individually or in the aggregate, have a Material Adverse Effect on the Company, taken as a whole.

 

		2.4	Litigation. There is no litigation, proceeding, or investigation pending or, to Seller’s
Knowledge, threatened, against the Company, which, if decided adversely, would have a Material Adverse Effect on the Company, taken
as a whole.

 

		2.5	Compliance with Laws. The Company is in compliance in all material respects with all Laws
applicable to the conduct of the Business as in effect on the date of this Agreement, or applicable to its employees, except where
the failure to be in compliance would not have a Material Adverse Effect on the Company, taken as a whole.

 

		2.6	Absence of Certain Changes. Since the date of the Reference Financial Statements through
the date hereof, the Company has conducted its business and operations in the Ordinary Course of Business and the Company has not:

 

		(a)	amended its certificate of formation or operating agreement (or similar organizational documents);

 

		(b)	merged or consolidated with any other Person or acquired any material assets of any other Person
or purchase of a substantial portion of the assets or stock of, or by any other manner, any business or any Person or any division
thereof (other than the acquisition of inventory in the ordinary course), or adopted any plan of reorganization, liquidation or
dissolution or filing of a petition in bankruptcy under any provisions of federal or state bankruptcy Law or consent to the filing
of any bankruptcy petition against it under any similar Law;

 

		(c)	issued, granted, delivered or sold, or authorized or proposed the issuance, grant, delivery or
sale of, any membership interests or any other securities of the Company or any securities or other instruments of any nature or
kind convertible into or exchangeable for, or any rights, warrants or options to acquire, any membership interests or any other
securities of the Company, or authorized the split, combination or reclassification of any membership interests, or authorized
the declaration or payment of any dividends or distributions on or in respect of any of its membership interests or redemption,
purchase or acquisition of its membership interests;

 

* Information
marked with an asterisk herein has been omitted and filed separately with the Commission pursuant to a request for confidential
treatment.

 

    	5

    	 

    

 

		(d)	entered into any agreement, understanding or arrangement with respect to the sale or voting of
any of its equity interests (including, without limitation, any trusts, shareholders agreements, proxies, pledge agreements or
any similar instruments or agreements);

 

		(e)	made any loans, guarantees, advances or capital contributions to, or investments in, any other
Person other than (i) loans, advances or capital contributions to or from the Company which have been duly recorded and properly
reflected on the Reference Financial Statements, or (ii) loans or advances to employees in the ordinary course;

 

		(f)	adopted, modified or terminated any: employment, severance, retention or other agreement with any
current or former employee, officer, director, independent contractor or consultant, or adopted any material employee benefit plan,
program or arrangement or amended or modified, any existing Company Benefit Plan or benefit arrangement in any material respect;

 

		(g)	authorized, recommended, proposed or announced an intention to adopt a plan of complete or partial
liquidation or dissolution or any plan of division or share exchange;

 

		(h)	incurred or committed to any obligation to make any capital expenditure (or series of capital expenditures)
in excess of $15,000;

 

		(i)	made any material change in any method of accounting or accounting practice of the Company;

 

		(j)	made any material change in the Company’s cash management practices and its policies, practices
and procedures with respect to collection of accounts receivable, establishment of reserves for uncollectible accounts, accrual
of accounts receivable, inventory control, prepayment of expenses, payment of trade accounts payable, accrual of other expenses,
deferral of revenue and acceptance of customer deposits;

 

		(k)	made any transfer, assignment, sale or other disposition of any of the assets shown or reflected
in the Reference Financial Statements or made any cancellation of any debts or entitlements, other than sales of inventory in the
Ordinary Course of Business;

 

		(l)	made any transfer, assignment or grant of any license or sublicense of any material rights under
or with respect to any Intellectual Property;

 

		(m)	suffered any material damage, destruction or loss (whether or not covered by insurance) to its
property;

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	6

    	 

    

 

		(n)	been subject to any acceleration, termination, material modification to or cancellation of any
Material Contract to which the Company is a party or by which it is bound;

 

		(o)	been subject to the imposition of any Encumbrance upon any of the Company properties, capital stock
or assets, tangible or intangible, other than Permitted Liens;

 

		(p)	authorized any bonuses, whether monetary or otherwise, or increased any wages, salary, severance,
pension or other compensation or benefits in respect of its employees, independent contractors or consultants, or changed the terms
of employment for any employee or any with respect to the termination of any employees, or taken action to accelerate the vesting
or payment of any compensation or benefit for any employee, independent contractor or consultant;

 

		(q)	entered into a new line of business or abandoned or discontinued an existing lines of business;

 

		(r)	purchased, leased or otherwise acquired the right to own, use or lease any property or assets,
except for purchases of inventory or supplies in the Ordinary Course of Business; or

 

		(s)	committed to do any of the foregoing, or taken any action or omitted to take any action that would
result in any of the foregoing.

 

		2.7	Real Property. Section 2.7 of the Due Diligence Schedules contains a list of all Owned Real
Property. The Company leases no real property, either as a tenant or a landlord. The improvements on the Owned Real Property are
adequate and suitable for the purposes presently being used. With respect to each piece of Owned Real Property. Except as would
not have, individually or in the aggregate, a Material Adverse Effect:

 

		(a)	there are no (i) pending or, to the Seller’s Knowledge, threatened condemnation proceedings relating
to such Owned Real Property, (ii) pending or, to the Seller’s Knowledge, threatened litigation or administrative actions relating
to such Owned Real Property or (iii) to the Seller’s Knowledge, other matters affecting materially and adversely the Company’s
use of the Owned Real Property for the operation of the Business as conducted on the date of this Agreement;

 

		(b)	there are no outstanding options or rights of first refusal to purchase such Owned Real Property,
or any portion thereof or interest therein;

 

		(c)	the Company has not received notice of, and to the Seller’s Knowledge, there is no proposed or
pending proceeding to change or redefine the zoning classification of all or any portion of such Owned Real Property; and

 

		(d)	all facilities located on such Owned Real Property are supplied with utilities and other services
necessary for the operation of such facilities as operated on the date of this Agreement, including gas, electricity, water, telephone,
sanitary sewer and storm sewer.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	7

    	 

    

 

The representations
and warranties in this Section 2.7 are the sole and exclusive representations and warranties of Seller regarding real property
matters.

 

		2.8	Assets.

 

		(a)	The Company is the true and lawful owner of, and has good title to, all of the assets (tangible
or intangible) used in its business that are material to the operation of its business, free and clear of all encumbrances other
than Permitted Liens. Except for tangible assets that Company has use of through participation in an enterprise arrangement arranged
by Seller or an Affiliate of Seller, which are not subject to this transaction and are listed in Section 2.22 of the Due Diligence
Schedules, the Company owns or leases all tangible assets sufficient for the conduct of its businesses as presently conducted.
Each such tangible asset is suitable for the purposes for which it presently is used. Section 2.8 of the Due Diligence Schedules
sets forth accurate lists as of February 28, 2014 of all vehicles, machinery, equipment, supplies and all other tangible personal
property (collectively, the “Personal Property”) owned by, in the possession of, or used by the Company in its
business that are material to the operation of the business, except for individual items of Personal Property carried on Company’s
books of account at a value of less than Five Thousand Dollars ($5,000) individually.

 

		(b)	To the Seller’s Knowledge, each item of Personal Property that the Company has possession of pursuant
to a lease agreement or other contractual arrangement is in such condition that, upon its return to its lessor or owner in its
present condition at the end of the relevant lease term or as otherwise contemplated by the applicable lease or contract, the obligations
of the Company to such lessor or owner will have been discharged in full.

 

		2.9	Certain Contracts and Arrangements. Section 2.9 of the Due Diligence Schedules lists
all written contracts to which the Company is a party that are material to its conduct other than purchase orders entered into
in the Ordinary Course of Business (any such contract, a “Material Contract”). The Company has delivered to Buyer
copies of all Material Contracts (including any and all amendments and other modifications to those Material Contracts). The Material
Contracts are valid and binding obligations of the Company, and, to Seller’s Knowledge, the other parties thereto, enforceable
against those parties in accordance with their respective terms except as they may be limited by (a) applicable bankruptcy, insolvency,
reorganization, moratorium, or other Laws relating to or affecting the enforcement of creditors’ rights generally and (b) Laws
governing specific performance, injunctive relief, or other equitable remedies. The Company and, to Seller’s Knowledge, each other
party thereto, have complied in all material respects with each Material Contract, and the Company and, to Seller’s Knowledge,
each other party thereto have not caused or permitted to occur a material default under any of Material Contracts, nor has the
Company granted or been granted any material waiver or forbearance with respect to any of Material Contracts. To the Seller’s Knowledge,
no event has occurred that, with the passing of time or the giving of notice, would result in a material default or breach of any
such Material Contract, or allow for termination or cancellation thereof. The Company has not received any written notice from
any party to any such Material Contract of any intention to terminate, cancel or otherwise materially fail to perform any obligations
of such party under any such Material Contract.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	8

    	 

    

 

		2.10	Taxes.

 

		(a)	The Company has filed all material Tax Returns required to be filed by the Company (taking into
account all valid extensions). Those Tax Returns are complete and correct in all material respects. The Company is not currently
the beneficiary of any extension of time within which to file any material Tax Return other than extensions of time to file Tax
Returns obtained in the Ordinary Course of Business.

 

		(b)	All material Taxes due and owing by the Company have been paid or accrued, including all Taxes
which the Company is obligated to withhold from amounts paid to any employee, creditor or other third party for all periods for
which statutory periods of limitations for assessment of such Taxes have not yet expired.

 

		(c)	No extensions or waivers of statutes of limitations have been given or requested with respect to
any material Taxes of the Company that are still in effect.

 

		(d)	There are no ongoing Actions by any taxing authority against the Company.

 

		(e)	The Company is not a party to any Tax-sharing or similar agreement the principal subject of which
is Tax matters.

 

		(f)	The representations and warranties set forth in this Section 2.10 are the Seller’s sole and
exclusive representations and warranties regarding Tax matters.

 

		(g)	The Company has not made an election to be treated as an association taxable as a corporation for
U.S. federal income tax purposes.

 

		2.11	Reference Financial Statements. The Reference Financial Statements were prepared using materially accurate data derived
from the books and records of the Company, in the ordinary course of business and fairly present the financial condition of the
Company as of its date and the results of its operations for the periods indicated, on a basis consistent with prior periods. The
Reference Financial Statements are not audited, reviewed, or compiled.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	9

    	 

    

 

		2.12	Environmental Conditions. Except as would not have, individually or in the aggregate, a
Material Adverse Effect:

 

		(a)	No written notice, notification, demand, request for information, citation, summons or order has
been received by the Company, no complaint has been filed against and received by the Company, no penalty has been assessed, and
no action or review is pending before any Governmental Authority or, to Seller’s Knowledge, threatened by any Governmental Authority
or other Person with respect to any matters relating to the Company and arising out of any Environmental Law or Environmental Permit;

 

		(b)	To Seller’s Knowledge, the Company is in material compliance with all terms, conditions and provisions
of all applicable Environmental Laws and Environmental Permits;

 

		(c)	The Company has obtained all material Environmental Permits for the ownership, lease, operation
or use of the business or assets of the Company and, to Seller’s Knowledge, all such material Environmental Permits shall remain
in full force and effect immediately following the Closing;

 

		(d)	The Business has not previously involved the use, handling, manufacture, treatment, processing,
storage, generation, release, discharge, or disposal of any Hazardous Substances, except for the use, handling, manufacture, treatment,
processing, storage, generation, release, discharge, or disposal in material compliance with Environmental Laws of those Hazardous
Substances;

 

		(e)	To Seller’s Knowledge, no real property currently or formerly owned, operated or leased or used
for storage or as disposal facilities by the Company is listed on, or has been proposed for listing on, the National Priorities
List (or CERCLIS) under CERCLA, or any similar state list;

 

		(f)	To Seller’s Knowledge, there has been no Release of Hazardous Materials in contravention of Environmental
Laws caused by the business or assets of the Company, and neither the Company nor the Seller has received any notice that any real
property currently or formerly owned, operated or leased in connection with the business of the Company (including soils, groundwater,
surface water, buildings and other structure located on any such real property) has been contaminated with any Hazardous Material
which could result in any claim against, or a violation of any Environmental Laws or term of any Environmental Permit by, Seller
or the Company;

 

The representations
and warranties in this Section 2.12 are the sole and exclusive representations and warranties of Seller regarding environmental
matters.

 

		2.13	Intellectual Property.

 

		(a)	The Company owns, free and clear of any lien or other encumbrance or restriction, or has the right
to use, the Company Intellectual Property. The Company Intellectual Property is adequate for the Company to fulfill its obligations
under the Material Contracts and to conduct the Business as conducted on the date of this Agreement. Other than the Company Intellectual
Property, no Intellectual Property is material to the conduct of the Business.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	10

    	 

    

 

		(b)	The Company has not received any written claim or demand of any Person, and is not a party to any
proceeding pending or, to Knowledge of the Seller threatened, which challenges the rights of the Company or Seller in respect of
(i) the Company Intellectual Property or (ii) the rights of the Company in respect of any material trade secret owned or used by
them in the conduct of the Business. The Company Intellectual Property is not subject to any outstanding order, ruling, decree,
judgment, or stipulation by or with any court, arbitrator or administrative agency. To the Knowledge of the Seller, the Company
is not infringing on the intellectual property rights of any Person.

 

		2.14	Brokers and Finders. Neither Seller nor any of its officers, directors, or employees have
employed any broker, finder, or investment banker or incurred any Liability for any commission, brokerage, or investment-banking
fee, or finder’s fee in connection with the transactions contemplated by this Agreement.

 

		2.15	Inventory. All inventory of the Company, whether or not reflected on the Reference Financial
Statements, to the Seller’s Knowledge, consists of a quality and quantity usable and saleable in the Ordinary Course of Business,
except for obsolete items and items of below-standard quality, all of which have been written-off or written-down in accordance
with the Accounting Standards.

 

		2.16	Accounts Receivable. All accounts receivable of the Company reflected on the Reference Financial
Statements (other than those reserved for bad debts or collected since such date) constitute valid claims arising from bona fide
transactions consistent with past practice and, to the Knowledge of the Seller, are collectible in accordance with their terms
at their recorded amounts, net of the applicable reserve for bad debts on the Reference Financial Statements. All accounts receivable
of the Company that have arisen since the Reference Financial Statements constitute valid claims arising from bona fide transactions
consistent with past practice, and to the Knowledge of the Seller, are collectible in accordance with their terms at their recorded
amounts. Reserves for doubtful accounts have been established in accordance with the Accounting Standards. All accounts receivable
which are thirty (30) days or more past due as of March 7, 2014 are identified on Section 2.16 of the Due Diligence Schedules.

 

		2.17	Powers of Attorney. There are no outstanding powers of attorney executed on behalf of the
Company.

 

		2.18	Insurance. Section 2.18 of the Due Diligence Schedules contains a true and complete list
specifying the type of coverage and the insurer of all liability, property, workers’ compensation, directors and officers liability
and other insurance policies (including any self-insurance programs, if any) currently in effect that insure the Business of the
Company or employees of the Company or relate to the ownership, use or operation of any of the assets and properties of the Company.
Except as set forth in Section 2.18 of the Due Diligence Schedules, all of these policies are maintained by Seller or its Affiliates
and will not continue to cover the Company, the Business, or the assets and properties of the Company after Closing. None of Seller,
the Company, or any Person to whom such policy has been issued has failed to give any material notice or present any material claim
under any such policy in due and timely fashion.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	11

    	 

    

 

		2.19	Employees.

 

		(a)	Seller has provided to Buyer a complete and accurate list of (i) all employees of the Company and
(ii) the current annual compensation (and the portions thereof attributable to salary, bonus and other compensation respectively)
of each employee of the Company as of March 7, 2014. Such list also shows totals, for each listed employee, of (x) accrued but
unused vacation and sick leave and (y) accrued but unpaid bonuses and commissions.

 

		(b)	To the Seller’s Knowledge, there are no Actions against the Company pending or overtly threatened
to be brought or filed, by or with any Governmental Authority in connection with the employment of any current or former employee
of the Company.

 

		(c)	Each of the Company’s employees is an “at-will” employee, and there are no written employment,
commission or compensation agreements of any kind between the Company and any of its employees.

 

		(d)	The Company is not a party, or otherwise subject, to any labor or collective bargaining agreement
and there are no labor unions or other organizations representing, purporting to represent or, to Seller’s Knowledge, attempting
to represent any employees of the Company. There is no representation petition respecting the employees of the Company pending
before any Governmental Authority or, to Seller’s Knowledge, threatened to be brought or filed.

 

		(e)	Section 2.19 of the Due Diligence Schedules contains a listing (by fiscal quarter) of workers’
compensation claims of the Company since May 21, 2012.

 

		(f)	No individuals are employed by the Company outside of the United States

 

		2.20	Employee Benefits. With respect, as applicable, to Benefit Plans and Benefit Arrangements:

 

		(a)	Section 2.20 of the Due Diligence Schedules sets forth a separate list, as of the date hereof,
of (i) all Benefit Plans or Benefit Arrangements that relate solely or primarily to current or former employees of the Company
and their spouses and eligible dependents or beneficiaries (“Company Benefit Plans”), and (ii) all other Benefit
Plans or Benefit Arrangements sponsored by Seller or an ERISA Affiliate in which the Company participates (the “Seller
Benefit Plans”). The Company has made available to the Buyer complete and accurate copies of the following documents with
respect to the Company’s participation in each material Company Benefit Plan and Seller Benefit Plan, to the extent applicable:
(i) all plan or arrangement documents; (ii) the most recent Form 5500 or other comparable documents and any attached financial
statements; (iii) summary plan descriptions, summaries of material modifications, and any prospectuses that describe the Company
Benefit Plans or Seller Benefit Plans (iv) all notices that the IRS, Department of Labor or any other Governmental Authority issued
to the Company on or after May 21, 2012; and (v) employee manuals or handbooks containing personnel or employee relations policies.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	12

    	 

    

 

		(b)	All Seller Benefit Plans that are intended to meet the requirements of Section 401(a) of the Code
have received determination letters from the IRS to the effect that such plans are qualified and the plans and trusts related thereto
are exempt from federal income taxes under Sections 401(a) and 501(a), respectively, of the Code, and to the Seller’s Knowledge,
no fact or event has occurred since the date of such determination letter that would adversely affect such qualification or exemption,
as the case may be. The Company Benefit Plans and Seller Benefit Plans comply in form and in operation, in all material respects,
with the requirements of the Code, ERISA and all applicable Laws.

 

		(c)	To Seller’s Knowledge, there are no pending claims (other than routine benefit claims and proceedings
with respect to qualified domestic relations orders) or lawsuits that have been asserted or instituted by, against or relating
to, any Company Benefit Plan.

 

		(d)	To the Seller’s Knowledge, the Company has paid all amounts they are required to pay as contributions
to the Company Benefit Plans; all benefits accrued under any unfunded Company Benefit Plan will have been paid, accrued or otherwise
adequately reserved in accordance with GAAP as of the date of the Reference Financial Statements; the assets of each Company Benefit
Plan that is funded are reported at their fair market value on the books and records of such Company Benefit Plan; no Company Benefit
Plan in which the Company’s employee’s participate that is subject to Part 4 of Title I of ERISA has assets that include securities
issued by the Company or any of their ERISA Affiliates.

 

		(e)	The execution of this Agreement or the occurrence of the Closing will not (A) entitle any
employee to severance payable by the Company, (B) accelerate the time of funding, vesting or payment of any benefits under any
of the Company Benefit Plans or (C) result in any payment in the nature of compensation that would, either alone or in combination
with any other payment, result in an “excess parachute payment” within the meaning of Section 280G(b) of the Code to
any person.

 

		(f)	The Company has no arrangements or obligation to provide health or medical benefits or payments
to or with respect to any former employee or retiree, except as required by COBRA.

 

		(g)	The Company is not a party to any agreement under which any employee or independent contractor
is entitled to any “gross-up” payment in respect of Taxes under Sections 4999 or 409A of the Code. To the Seller’s Knowledge,
each Plan that is a “nonqualified deferred compensation plan” within the meaning of Section 409A of the Code has been
operated and administered in all material respects in accordance with the applicable requirements of Section 409A of the Code.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	13

    	 

    

 

		(h)	There are no loans or extensions of credit from the Company to any employee of or independent contractor
of the Company.

 

		(i)	There is no Company owned life insurance (COLI), split-dollar life insurance policy or any other
life insurance policy on the life of any employee of the Company.

 

		2.21	Customers and Suppliers. Section 2.21 of the Due Diligence Schedules sets forth a list of
(a) the top fifteen (15) parts customers of the Company during the last full fiscal year, as applicable, and the interim period
through the date of the Reference Financial Statements, and the amount of revenues accounted for by such customer during each such
period and (b) each supplier that is the sole supplier of any significant product or service to the Company. No such customer or
supplier has provided written notice within the past year that it will stop, or decrease the rate of, buying materials, products
or services or supplying materials, products or services, as applicable, to the Company. To the Knowledge of the Seller, the Company
has good relations with its customers.

 

		2.22	Certain Business Relationships With Affiliates. No Affiliate of the Company (a) owns
any property or right, tangible or intangible, which is used in the business of the Company, (b) has any claim or cause of action
against the Company, (c) owes any money to, or is owed any money by, the Company or (d) is a party to any contract or other arrangement
(written or oral) with the Company.

 

		2.23	Books and Records. To the Knowledge of the Seller, the minute books and other similar records
of the Company contain complete and accurate records of all formal actions taken at any meetings of the Company’s equity holders,
board of directors, members, managers or any committee thereof and of all written consents executed in lieu of the holding of any
such meeting. Section 2.23 of the Due Diligence Schedules contains a list of any bank accounts and safe deposit boxes of the Company
as of the Closing Date and the names of persons having signature authority with respect thereto or access thereto.

 

		2.24	No Undisclosed Material Liabilities.

 

		(a)	As of the date of the Reference Financial Statements, there are no material expenses incurred in
the Business that are not reflected as an expense of the Company in the Reference Financial Statements.

 

* Information
marked with an asterisk herein has been omitted and filed separately with the Commission pursuant to a request for confidential
treatment.

 

    	14

    	 

    

 

 

		(b)	As of the date of the Reference Financial Statements, the Company did not have, and, on the Closing
Date, the Company will not have, Liabilities with respect to the Business, including, without limitation, Liabilities for borrowed
money, Taxes, accounts payable (including rent arrears), amounts owed to any member (or any member’s Affiliates or relatives) or
Affiliates of the Company, customer orders, customer advances and deposits, open purchase orders of the Company (including, without
limitation, commitments to suppliers of the Company for work-in-process), advances and deposits paid to suppliers of the Company
commissions or other compensation owed to employees of the Company, customer claims, product liability or personal injury claims,
and warranty claims, except (i) Liabilities reflected, reserved for or disclosed in the balance sheet included in the Reference
Financial Statements, (ii) Liabilities disclosed on the Due Diligence Schedules, (iii) Liabilities incurred in the Ordinary
Course of Business since the date of the Reference Financial Statements, or (iv) Liabilities or obligations that are not,
individually or in the aggregate, material to the Business up to $50,000 in the aggregate.

 

		2.25	Product Liability. To the Seller’s Knowledge, no product manufactured, sold, leased or delivered
by the Company is subject to any material guaranty, warranty or other indemnity beyond the applicable standard terms and conditions
of sale or lease. The Seller has furnished Buyer with copies of the standard terms and conditions of sale for the Company. To the
Seller’s Knowledge, the Company has no material Liability for any design defect, product failure or other material product Liability
claim arising from or related to any product of the Company.

 

		2.26	Permits and Licenses. Except as would not reasonably be expected, individually or in the
aggregate, to result in a Material Adverse Effect: the Company holds all Permits that are material to the Business and necessary
for the lawful conduct of the Business as currently conducted pursuant to the Laws applicable to the Company; Each such Permit
is in full force and effect, and the Company has not received any written notice from any Governmental Authority alleging the violation
of, or failure to comply with, any material term or requirement of any of its Permits, or regarding the revocation, withdrawal,
suspension, cancellation, termination or material modification of any of its Permits; To the Knowledge of the Seller, no event
has occurred that, with or without notice or lapse of time or both, would result in the revocation, suspension, lapse or limitation
of any Permit.

 

		2.27	Disclaimer of Other Representations and Warranties. Except for the representations and warranties
contained in this Article 2 (as modified by the Due Diligence Schedules), neither the Seller nor any other Person makes any
other express or implied representation or warranty with respect to the Company, the Business, the Seller, or transactions contemplated
by this Agreement. Seller disclaims any other representations or warranties, whether made by the Seller or any of its Affiliates,
officers, directors, employees, agents or representatives. Except for the representations and warranties contained in Article 2
hereof (as modified by the Due Diligence Schedules), Seller hereby disclaims all liability and responsibility for any representation,
warranty, projection, forecast, statement, or information made, communicated, or furnished (orally or in writing) to Buyer or its
Affiliates or representatives (including any opinion, information, projection, or advice that may have been or may be provided
to Buyer by any director, officer, employee, agent, or representative of Seller or any of its Affiliates).

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	15

    	 

    

 

Article 3

REPRESENTATIONS AND WARRANTIES

OF BUYER

 

Buyer hereby represents and warrants to Buyer
as follows:

 

		3.1	Existence. Buyer is a corporation duly organized, validly existing, and in good standing
under the laws of the State of Colorado.

 

		3.2	Authorization and Binding Obligation. Buyer has full corporate power and authority to enter
into this Agreement and to carry out its respective terms. Buyer has taken all corporate action necessary to authorize the execution,
delivery, and performance of this Agreement. This Agreement has been duly and validly executed and delivered by Buyer. This Agreement
is binding upon and enforceable against Buyer in accordance with its respective terms, except as enforceability may be limited
or affected by (a) applicable bankruptcy, insolvency, reorganization, moratorium, or other Laws of general application relating
to or affecting creditors’ rights and remedies generally and (b) rules of Law governing specific performance, injunctive relief,
or other equitable remedies.

 

		3.3	Absence of Conflicting Agreements or Required Consents. The execution, delivery and performance
of this Agreement by Buyer (a) do not require (i) the consent, approval, or authorization of any Governmental Authority having
jurisdiction over Buyer (other than such approvals as may be required under any Competition Law) or of any third party or (ii)
the submission or filing of any notice, report, or other filing with any Governmental Authority having jurisdiction over Buyer;
(b) will not violate the corporate charter and other organizational documents of Buyer; (c) will not violate any Law, judgment,
order, injunction, decree, or ruling of any Governmental Authority applicable to Buyer; and (d) will not, either alone or with
the giving of notice or the passage of time or both, conflict with, constitute grounds for termination of, or result in a breach
of the terms, conditions or provisions of, or constitute a default under any agreement, instrument, license, or permit individually
or in the aggregate material to the transactions contemplated hereby and to which Buyer is subject.

 

		3.4	Brokers and Finders. Neither Buyer nor any of its respective officers, directors, or employees
have employed any broker, finder, or investment banker or incurred any Liability for any commission, brokerage, or investment-banking
fee, or finder’s fee in connection with the transactions contemplated by this Agreement.

 

		3.5	Litigation and Administrative Proceedings. There is no Action pending or threatened against
Buyer that seeks to enjoin or prohibit, or otherwise questions the validity of, any action taken or to be taken pursuant to or
in connection with this Agreement.

 

		3.6	Purchase for Investment. Buyer is not acquiring the Interest with a view to, or for sale
in connection with, any distribution thereof within the meaning of the Securities Act of 1933, as amended or any comparable state
securities laws.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	16

    	 

    

 

		3.7	Due Diligence Investigation. Buyer has had an opportunity to discuss the Company, management,
operations and finances of the Company with Seller and the Company’s officers, directors, employees, agents, representatives and
Affiliates, and has had an opportunity to inspect the Company’s facilities. Buyer has conducted its own independent investigation
of the Company. In making its decision to execute and deliver this Agreement and to complete the transactions contemplated by this
Agreement, Buyer has relied solely upon the representations and warranties of Seller set forth in Article 2 (and acknowledges
that those representations and warranties are the only representations and warranties made by Seller) and has not relied upon any
other information provided by, for or on behalf of the Company or Seller, or their agents or representatives, to Buyer in connection
with the transactions contemplated by this Agreement. Buyer has no knowledge of the existence or nonexistence or occurrence or
nonoccurrence of any event, condition or circumstance the existence, nonexistence, occurrence or nonoccurrence of which would cause
any representation or warranty of Seller contained in this Agreement to be untrue or inaccurate in any respect. Buyer has entered
into the transactions contemplated by this Agreement with the understanding, acknowledgement and agreement that no representations
or warranties, express or implied, are made with respect to future prospects (financial or otherwise) of the Company. Buyer acknowledges
that no current or former stockholder, director, officer, employee, Affiliate or advisor of Seller has made or is making any representations,
warranties or commitments whatsoever regarding the subject matter of this Agreement, express or implied.

 

		3.8	Disclaimer of Other Representations and Warranties. Except for the representations and warranties
contained in this Article 3, neither the Buyer nor any other Person makes any other express or implied representation or warranty
with respect to the transactions contemplated by this Agreement. The Buyer disclaims any other representations or warranties, whether
made by the Buyer or any of its Affiliates, officers, directors, employees, agents or representatives. Except for the representations
and warranties contained in this Article 3, Buyer hereby disclaims all Liability and responsibility for any representation,
warranty or information made, communicated, or furnished (orally or in writing) to Seller or its Affiliates or representatives
(including any opinion, information, projection, or advice that may have been or may be provided to Seller by any director, officer,
employee, agent, or representative of the Buyer or any of its Affiliates).

 

Article 4

POST-CLOSING COVENANTS

 

		4.1	General. If after the Closing any further action is necessary to carry out the purposes
of this Agreement, each of the Parties will take further action (including the execution and delivery of further instruments and
documents) as any other Party reasonably may request, all at the sole cost and expense of the requesting Party (unless the requesting
party is entitled to indemnification therefor under Article 6).

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	17

    	 

    

 

		4.2	Litigation Support. If, and for so long as, any Party is actively contesting or defending
against any Action in connection with any fact, situation, circumstance, status, condition, activity, practice, plan, occurrence,
event, incident, action, failure to act, or transaction on or before the Closing Date involving the Company (other than Actions
between Buyer or the Company or any of their Affiliates, on the one hand, and Seller and any of its Affiliates, on the other hand),
each other Party shall reasonably cooperate with it and its counsel in the defense or contest, make available its personnel, and
provide such testimony and access to its books and records as may be necessary in connection with the defense or contest.

 

		4.3	Access to Information. Subject to any additional requirements of Section 5.2, each
Party agrees to retain its books and records relating to the Company for the periods before the Closing for a period of at least
three years. For a period of at least three years after the Closing Date, (a) Seller will provide Buyer and its representatives
with reasonable access, at Buyer’s cost, to any books and records in the possession of Seller to the extent those books and records
relate to the Company, and (b) Buyer will provide Seller and its representatives with reasonable access, at Seller’s cost, to any
books and records in Buyer’s possession to the extent such books and records relate to the Company.

 

		4.4	Employee Matters.

 

		(a)	For 12 months after Closing (or if earlier, the date of the employee’s termination of employment
with the Company), Buyer shall, and shall cause the Company to, provide each of the Company’s employees with: (i) base salary or
hourly wages which are no less than the base salary or hourly wages provided by the Company consistent with past Company practice
before Closing; (ii) target bonus opportunities (excluding equity-based compensation), if any, which are no less than the target
bonus opportunities (excluding equity-based compensation) provided by the Company consistent with past Company practice before
Closing; (iii) retirement and welfare benefits that are no less favorable in the aggregate than those provided by the Company consistent
with past Company practice before Closing; and (iv) severance benefits that are no less favorable than the practice, plan or policy
in effect for the employee consistent with past Company practice before Closing. Notwithstanding the foregoing, nothing in this
Section 4.4(a) or any other provision of this Agreement shall be construed as a contract of employment with respect to any
employee and the Company may terminate any employee at any time for any reason on or after the Closing Date as determined at its
sole discretion.

 

		(b)	As of the Closing Date, the Company’s employees shall cease to accrue benefits, if any, under the
Seller Benefit Plans. Effective as of the Closing Date, Seller and its Affiliates shall take all necessary action, if any, to effect
such cessation of participation as of the Closing Date. No assets or liabilities with respect to the Seller Benefit Plans shall
be transferred to Buyer or its Affiliates. The Seller or its Affiliates, as applicable, shall pay directly to the Company employees
(including their surviving spouses and beneficiaries, if applicable) any vested benefits to which they are entitled under the Seller
Benefit Plans when eligible under the terms of such plans to receive such payments.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	18

    	 

    

 

		(c)	With respect to any employee benefit plan maintained by Buyer or its Affiliates (collectively,
“Buyer Benefit Plans”), Buyer shall, or shall cause the Company to, recognize all service of the employee with
the Company as if the service were with Buyer, for vesting and eligibility purposes in any Buyer Benefit Plan in which the employee
may be eligible to participate after Closing. However, that service need not be recognized to the extent that recognition would
result in a duplication of benefits.

 

		(d)	Notwithstanding any other provision of this Agreement, Seller and Buyer intend that all employee
benefit matters covered in this Agreement comply with the applicable Laws of the affected jurisdiction and, to the extent of any
noncompliance, the provisions of this Agreement will be reformed to achieve compliance in accordance with the intent of the parties
to this Agreement. Moreover, Seller and Buyer do not intend to create any third party beneficiary rights as to any employees respecting
any provisions of this Agreement. Nothing in this Section 4.4, whether express or implied, confer upon any Person (including
any current or former director, officer or employee of, or consultant or independent contractor to, the Seller) any third party
beneficiary or other rights or remedies, including any right to employment or continued employment for any specified period or
continued participation in any benefit plan, of any nature or kind whatsoever under or by reason of this Section 4.4.

 

		4.5	Medical and Dental Plan Coverage. From the Closing Date through May 31, 2014, Seller will
provide each of the Company’s employees with benefits under the medical and dental plans in which the Company’s employees participate
at the Closing consistent with Company practice before Closing. Seller will bill Buyer for the actual cost of such benefits from
the Closing Date through May 31, 2014. Seller shall pay such amount within five business days of receipt of invoice.

 

		4.6	Other Transition Services. 

 

		(a)	Seller will use commercially reasonable efforts to provide to the Company, in materially the same
manner and extent as provided prior to the Closing, from the Closing Date through May 31, 2014 (i) IT (information technology)
support, (ii) finance/accounting support, and (iii) ordinary course of business payroll administration (together, the “Services”).
Seller will invoice the Company $1,544.00 on the first day of each month for the Services. The Company shall pay for the Services
within thirty calendar days of receipt of invoice.

 

		(b)	The relationship of Seller, on the one hand, and the Company, on the other hand, pursuant to this
Section 4.6 is that of an independent contractor. Nothing in this Section 4.6 is intended or will be deemed to constitute a partnership,
agency, franchise, joint venture, trust, or other association of any kind between Seller, on the one hand, and the Company, on
the other hand.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	19

    	 

    

 

		(c)	If Seller is unable to perform, or is delayed in the performance of, its obligations under this
Section 4.6 by reason of war, riot, storm, fire, flood, earthquake, strike, lockout or other labor unrest, accident, breakdown
of equipment or machinery, government act, or any other contingencies beyond the control of Seller which interfere with the production
or transport of goods or with the supply of raw materials or energy source, Seller will be relieved from its obligations under
this Section 4.6 for as long as it is justified by the event. Seller shall promptly notify the Company in writing of the cause
affecting the performance of its obligations. When the event terminates, Seller shall promptly resume performance and shall notify
the Company thereof in writing without delay.

 

		4.7	Accounts. After the Closing Date, (a) if the Company receives any amounts from Seller or its Affiliates in the accounts
set forth in Section 2.23 of the Due Diligence Schedules, the Company shall promptly wire such amounts to an account designated
by Seller and (b) if Seller or its Affiliates automatically draws amounts from the accounts set forth in Section 2.23 of the Due
Diligence Schedules, Seller shall promptly wire such amounts to an account designated by the Company.

 

Article 5

TAX MATTERS

 

		5.1	Returns and Payment of Taxes.

 

		(a)	The Parties acknowledge and agree that because the Company will be treated as an entity disregarded
as separate from its owner both before and immediately after the purchase and sale of the Interest, the purchase and sale of the
Interest will be treated for U.S. federal income tax purposes as a purchase and sale of all of the assets owned by the Company.
Seller and its Affiliates shall report on their U.S. federal income Tax Returns and all applicable state and local income
Tax Returns all income, gain, loss, deduction, credit and other tax items for all Pre-Closing Tax Periods. Buyer and its Affiliates
shall report on their U.S. federal income Tax Returns and all applicable state and local income Tax Returns all income, gain,
loss, deduction, credit and other tax items for all Post-Closing Tax Periods.

 

		(b)	Seller or its Affiliates shall (i) prepare and timely file (or cause to be prepared and timely
filed) all Tax Returns required to be filed by the Company for all Tax Periods ending on or before the Closing Date, and (ii) timely
pay all Taxes due with respect thereto.

 

* Information
marked with an asterisk herein has been omitted and filed separately with the Commission pursuant to a request for confidential
treatment.

  

    	20

    	 

    

 

		(c)	Buyer shall (i) prepare and timely file (or cause to be prepared and timely filed) all Tax Returns
of the Company required to be filed after the Closing Date other than those Tax Returns described in Section 5.1(a), and (ii)
timely pay all Taxes due with respect thereto. To the extent any such Tax Return includes a Pre-Closing Tax Period or is a return
for which the Seller could otherwise have an indemnification obligation pursuant to Article 8, Buyer shall (i) prepare such Tax
Returns consistent with past practices unless a contrary position is required by applicable Law, and (ii) allow Seller a reasonable
time, and in no event less than 20 Business Days, to review and comment on the Tax Returns prior to filing, and (iii) not file
such Tax Returns without Seller’s prior consent, which shall not be unreasonably withheld. Seller shall reimburse Buyer for the
portion of the Taxes shown as due on any Straddle Period Tax Return that are attributable to the Pre-Closing Tax Period on or before
the later ten Business Days after request from Buyer for such reimbursement and five Business Days before such Tax is due and payable.

 

		(d)	For purposes of this Agreement, in the case of any Straddle Period, the amount of Taxes attributable
to the Pre-Closing Tax Period shall be calculated as follows: (i) in the case of any Taxes that are based upon or measured
by income, receipts, profits or wages, that are imposed in connection with the sale or other transfer of property or services,
or that are required to be withheld and collected, the amount of such Taxes that are attributable to the Pre-Closing Tax Period
shall be determined on the basis of a closing of the books as of the end of the Closing Date (and for such purpose, the taxable
period of any partnership or other pass-through entity in which the Company holds a beneficial interest shall to the extent practical
be deemed to terminate at such time); and (ii) in the case of other Taxes, the amount of such Taxes that are attributable to the
Pre-Closing Tax Period shall equal the amount of such Tax for the entire taxable period multiplied by a fraction, the numerator
of which is the number of days in the taxable period through and including the Closing Date, and the denominator of which is the
total number of days in the taxable period.

 

		(e)	Neither Buyer nor any of its Affiliates, including the Company, shall file any amended Tax Return
for or including any Pre-Closing Tax Period without Seller’s express written consent.

 

		5.2	Cooperation on Tax Matters. Seller, the Company and Buyer shall reasonably cooperate, and
shall cause their respective Affiliates, officers, employees, agents, auditors and other representatives reasonably to cooperate,
in preparing, executing and filing all Tax Returns relating to the Company and in resolving all disputes and audits relating to
Taxes of the Company. Such cooperation shall include maintaining and making available to each other all records relating to Taxes
of the Company and making employees available on a mutually convenient basis to provide additional information or explanation of
any materials provided hereunder or to testify at any Actions relating to Taxes of the Company. Seller and Buyer agree (a) to retain
all books and records with respect to Tax matters pertinent to the Company relating to any Tax Period beginning before the Closing
Date until the applicable statute of limitations (as may be extended) has expired and to abide by all record retention agreements
entered into with any Governmental Authority; and (b) to allow the other Party and its representatives at times and dates mutually
acceptable to the Parties, to inspect, review and make copies of such records as such Party may deem necessary or appropriate from
time to time, such activities to be conducted during normal business hours at such Party’s expense. Seller shall have the right
to control any audit, litigation, or other proceeding with respect to any tax Return of the Company relating exclusively to a Pre-Closing
Tax Period, provided that (i) Seller must act in a manner consistent with the Company’s prior practices, except to the extent required
by applicable Law and the terms of this Agreement and (ii) Buyer shall have the right to notice of, and if and to the extent such
audit, litigation, or other proceeding could result in Losses to Buyer in a Post-Closing Tax Period, to participate in, any such
audit, litigation, or other proceeding at Buyer’s expense. Buyer shall have the right to control any other audit, litigation, or
other proceeding, including the entire Tax Return for any Straddle Period, provided that Seller shall have the right to notice
of, and to participate in, any such audit, litigation, or other proceeding at Seller’s expense, if and to the extent Seller would
have Liability as a result of such audit, litigation, or other proceeding.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	21

    	 

    

 

		5.3	Transfer Taxes. Each of Buyer and Seller shall equally pay any and all Transfer Taxes incurred
in connection with Buyer’s acquisition of the Interest. To the extent Seller or any of its Affiliates pays any portion of the Transfer
Tax to be paid by Buyer, Buyer shall reimburse the Seller for such portion of the Transfer Tax within 10 Business Days of delivery
to Buyer of evidence of payment of such Transfer Tax to the applicable Governmental Authority. To the extent Buyer or any of its
Affiliates pays any portion of the Transfer Tax to be paid by Seller, the Seller shall reimburse the Buyer for such portion of
the Transfer Tax within 10 Business Days of delivery to Seller of evidence of payment of such Transfer Tax to the applicable Governmental
Authority.

 

		5.4	Tax Refunds. Any Tax refunds (whether by payment, credit, offset, reduction in Tax or otherwise)
relating to any Pre-Closing Tax Period received by Buyer, the Company or any of their Affiliates after the Closing Date shall be
for the account of Seller, and Buyer shall pay over to Seller the amount of any such refund within 10 Business Days after its receipt.

 

Article 6

INDEMNIFICATION

 

		6.1	Survival of Representations and Warranties.

 

		(a)	The representations and warranties of Seller contained in this Agreement survive the Closing until
the 18-month anniversary of the Closing, but (i) the representations and warranties made pursuant to Section 2.1 (Existence;
Authority), Section 2.2 (Capitalization) and Section 2.14 (Brokers and Finders) survive indefinitely (the representations
and warranties made pursuant to Section 2.1, Section 2.2, and Section 2.14 the “Seller Fundamental Reps”)
and (ii) the representations and warranties made pursuant to Section 2.12 (Environmental Conditions) and Section 2.25 (Product
Liability) survive until the six-year anniversary of the Closing, and (iii) the representations and warranties made pursuant to
Section 2.10 (Taxes) survive until 60 days after the expiration of the applicable statute of limitations. If written notice
of a claim is given before the expiration of the applicable representations and warranties by Buyer to Seller, then the relevant
representations and warranties survive as to that claim, until the claim is finally resolved.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	22

    	 

    

 

		(b)	The representations and warranties of Buyer contained in this Agreement survive the Closing until
the 18-month anniversary of the Closing, but the representations and warranties made pursuant to Section 3.1 (Existence) and
Section 3.4 (Brokers and Finders) survive indefinitely (the representations and warranties made pursuant to Section 3.1
and Section 3.4, the “Buyer Fundamental Reps”). If written notice of a claim is given before the expiration
of the applicable representations and warranties by any Seller to Buyer, then the relevant representations and warranties survive
as to that claim, until the claim is finally resolved.

 

		(c)	The representations and warranties set forth in this Agreement speak only as of the date of this
Agreement and the Closing Date (except for representations and warranties that are made as of a specific date, which speak only
as of that date). Claims for breach of representations and warranties may only be brought before the expiration of the applicable
survival periods specified in Section 6.1. No claim for breach of a representation or warranty may be brought after the expiration
of the survival period that is applicable to that representation or warranty as specified in Section 6.1.

 

		6.2	Indemnification by Seller. Seller shall indemnify and hold harmless Buyer and its respective
Affiliates (including the Company), officers, directors, employees, agents, successors and assigns (each a “Buyer Indemnified
Party”) from and against any and all Losses, arising out of or resulting from:

 

		(a)	the breach of any representation or warranty made by Seller contained in this Agreement;

 

		(b)	the breach of any covenant or agreement by any of Seller (or, with respect to periods before Closing,
by the Company) contained in this Agreement;

 

		(c)	any Liability of the Company to the PBGC with respect to any plan of Seller or an ERISA Affiliate
subject to Title IV of ERISA, any withdrawal Liability of the Company associated with participation by Seller or an ERISA Affiliate
in a multi-employer plan as defined in Section 4001(a)(3) of ERISA, any Liability of the Company related to participation by Seller
or an ERISA Affiliate in a multiple employer plan as defined in Section 413(c) of the Code, or any Liability of the Company related
to participation in a multiple employer welfare arrangement by Seller or an ERISA Affiliate within the meaning of Section 3(40)(A)
of the Code; or

 

		(d)	any Liability for Taxes of the Company for all Pre-Closing Tax Periods to the extent Buyer was
not credited for such amount in the purchase of the Interest.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	23

    	 

    

 

		6.3	Indemnification by Buyer. Buyer shall indemnify and hold harmless Seller and its respective
Affiliates, officers, directors, employees, agents, successors and assigns (each a “Seller Indemnified Party”)
from and against any and all Losses, arising out of or resulting from:

 

		(a)	the breach of any representation or warranty made by Buyer contained in this Agreement;

 

		(b)	the breach of any covenant or agreement by the Buyer (or, with respect to periods after Closing,
by the Company) contained in this Agreement; or

 

		(c)	all Liability for Taxes of the Company for all Post-Closing Tax Periods.

 

		6.4	Limits on Indemnification.

 

		(a)	Notwithstanding anything to the contrary contained in this Agreement: (i) except with respect to
claims relating to the Seller Fundamental Reps, Seller is not liable for any claim for indemnification pursuant to Section 6.2
unless and until the aggregate amount of indemnifiable Losses under that section equals or exceeds 1% of the Purchase Price,
after which point the Seller is obligated to indemnify the Buyer Indemnified Party from and against any and all amounts of indemnifiable
Losses that exceed 1% of the Purchase Price; (ii) except with respect to claims relating to the Seller Fundamental Reps, the maximum
amount of indemnifiable Losses that may be recovered from the Seller is an amount equal to 20% of the Purchase Price; (iii) the
maximum aggregate amount of indemnifiable Losses that may be recovered from the Seller arising out of or resulting from a breach
of a Seller Fundamental Rep is an amount equal to 100% of the Purchase Price; and (iv) Buyer is not entitled to indemnification
for breach of Section 2.10 (Taxes) with respect to any Post-Closing Tax Period. This section does not apply with respect
to indemnification under Section 6.3.

 

		(b)	In calculating the indemnifiable Losses suffered by the Indemnified Party, the amount of any claim
is calculated net of any Tax benefit to the Indemnified Party as a result of the Loss and is reduced by any amounts the Indemnified
Party has received from third parties in connection with the matter, including any indemnification or other recovery under any
contract, agreement, or arrangement between a Buyer Indemnified Party and any third party and any insurance proceeds. The Indemnified
Party shall take, and cause its Affiliates to take, all reasonable steps to mitigate any Loss upon becoming aware of any event
or circumstance that would be reasonably expected to, or does, give rise thereto, including pursuing third party recoveries and
incurring costs only to the minimum extent necessary to remedy the breach that gives rise to such Loss. Nothing in this section precludes
an Indemnified Party from giving notice of its indemnity claim before exhausting its remedies. If the Indemnified Party receives
any third party payments after an indemnification payment is made that relates thereto, the Indemnified Party shall promptly repay
to the Indemnifying Party the amount of the indemnification payment the Indemnifying Party would not have paid had the third-party
payment reduced the original indemnification payment.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	24

    	 

    

 

		(c)	An Indemnified Party shall not assert claims with respect to, or recover damages for, Losses for
any punitive, incidental, consequential, special or indirect damages, including loss of future revenue or income, loss of business
reputation or opportunity relating to the breach or alleged breach of this Agreement, or diminution of value or any damages based
on any type of multiple, except to the extent the Indemnified Party is required to pay punitive damages to a third party pursuant
to a Third Party Claim.

 

		(d)	Buyer is not entitled to indemnification under this Article 6 arising out of breach of representations
or warranties made in this Agreement by the Seller, to the extent Buyer, or any of the Buyer’s Affiliates, advisors, agents, consultants
or representatives, had knowledge as of the date the representation or warranty was made that any representation and warranty made
in this Agreement by the Seller was inaccurate or untrue.

 

		(e)	An Indemnified Party may not recover duplicative indemnifiable Losses in respect of a single set
of facts or circumstances under more than one representation, warranty, covenant, or agreement in this Agreement.

 

		6.5	Notice of Loss; Third Party Claims.

 

		(a)	An Indemnified Party shall give the Indemnifying Party prompt notice of any matter that an Indemnified
Party has determined has given or could give rise to a right of indemnification under this Agreement, as soon as practicable, stating
the amount of the Loss, if known, and method of computation of the Loss, and containing a reference to the provisions of this Agreement
in respect of which the right of indemnification is claimed or arises.

 

		(b)	If an Indemnified Party receives notice of any Action, demand or assessment (each, a “Third
Party Claim”) against it or that may give rise to a claim for Loss under this Section 6.5, the Indemnified Party
shall give the Indemnifying Party notice of the Third Party Claim within 30 days (10 days in the case of any Third Party Claim
relating to Tax) of the receipt of notice. The failure to provide notice does not release the Indemnifying Party from any of its
obligations under this section except to the extent that the Indemnifying Party is prejudiced by the failure. The Indemnifying
Party is entitled to assume and control the defense of the Third Party Claim at its expense and through counsel of its choice if
it gives notice of its intention to do so to the Indemnified Party within 10 Business Days of the receipt of notice from the Indemnified
Party. However, the Indemnified Party is entitled, at its own expense, to participate in the defense of the Third Party Claim subject
to the Indemnifying Party’s right to control the defense of the Third Party Claim.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	25

    	 

    

 

		(c)	If the Indemnifying Party exercises the right to undertake the defense against a Third Party Claim
as provided above, the Indemnified Party shall reasonably cooperate with the Indemnifying Party in the defense and make available
to the Indemnifying Party, at the Indemnifying Party’s expense, all witnesses, pertinent records, materials, and information in
the Indemnified Party’s possession or under the Indemnified Party’s control relating thereto as the Indemnifying Party reasonably
requires. Similarly, if the Indemnified Party is, directly or indirectly, conducting the defense against a Third Party Claim, the
Indemnifying Party shall reasonably cooperate with the Indemnified Party in the defense and make available to the Indemnified Party,
at the Indemnifying Party’s expense, all witnesses, records, materials, and information in the Indemnifying Party’s possession
or under the Indemnifying Party’s control relating thereto as the Indemnified Party reasonably requires.

 

		(d)	The Indemnified Party shall not consent to the entry of any judgment or enter into any settlement
with respect to the Third-Party Claim without the prior written consent of the Indemnifying Party, which consent shall not be withheld
unreasonably.

 

		6.6	Character of Indemnification Payments. Seller and Buyer agree to treat all payments made
pursuant to this Article 6 (Indemnification) as adjustments to the Purchase Price for Tax purposes, unless otherwise required
by applicable Law.

 

		6.7	Exclusive Remedy. Except in the case of fraud, the sole remedy of an Indemnified Party for
all indemnifiable Losses with respect to the transactions contemplated by this Agreement is the indemnity set forth in Article 6
(Indemnification) (it being understood that nothing in this Article 6 limits the Parties’ rights to specific performance or
other equitable remedies with respect to the covenants referred to in Article 5 (Tax Matters) and Section 7.2 (Confidentiality)).

 

Article 7

GENERAL PROVISIONS

 

		7.1	Expenses. Except as otherwise specified in this Agreement, all costs and expenses, including
fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and the transactions
contemplated by this Agreement must be paid by the Party incurring such costs and expenses, whether or not the Closing has occurred.

 

		7.2	Confidentiality. No information concerning Seller or any of its current or former Affiliates
that has been furnished to or obtained by Buyer under this Agreement or in connection with the transactions contemplated by this
Agreement may be (a) used by Buyer or Buyer’s Affiliates other than in connection with the transactions contemplated by this Agreement
or (b) disclosed by Buyer to any Person other than in confidence to employees, legal counsel, financial advisers, or independent
public accountants of Buyer who Buyer reasonably determines have a need to know such information in connection with the transactions
contemplated by this Agreement.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	26

    	 

    

 

		7.3	Notices. All notices and correspondence with respect to matters related to this Agreement
must be in writing and are deemed received by a Party when (a) delivered to the appropriate address by hand or by nationally recognized
overnight courier service (costs prepaid); (b) sent by facsimile, or by electronic or digital transmission, with confirmation of
transmission by the transmitting equipment; or (c) received or rejected by the addressee, if sent by certified mail, return receipt
requested, in each case to the following address or facsimile number (or to such other address or facsimile number as a Party may
designate by giving written notice to the other Party in accordance with this Section 7.3):

 

if to Seller:

 

Precision Castparts Corp. 

11721 Sea Star Drive 

Indianapolis, IN 46256 

Attention: Greg Delaney 

Email: gdelaney@precastcorp.com

 

and to:

 

Precision Castparts Corp. 

4650 SW Macadam Avenue, Suite 400 

Portland, OR 97239-4262 

Fax: 503.946.4817 

Attention: Ruth Beyer 

Email: rbeyer@precastcorp.com

 

With a copy sent simultaneously to: 

 

Precision Castparts Corp. 

4650 SW Macadam Avenue, Suite 400 

Portland, OR 97239-4262 

Fax: 503.946.4817 

Attention: Sara Gray 

Email: sgray@precastcorp.com

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	27

    	 

    

 

if to Buyer:

 

Advanced Forming Technology, Inc. 

7040 Weld County Rd. 20 

Longmont, CO 80504

Attention: Jason Young, CEO

e-mail: jyoung@arcgroupworldwide.com

Fax: +1 (212) 231-3939

 

With a copy sent simultaneously to:

 

Wuersch & Gering LLP

100 Wall Street, 10th Fl.

New York, NY 10005

Attention: Travis L. Gering, Esq.

e-mail: travis.gering@wg-law.com

Fax: 610-819-9104

 

		7.4	Public Announcements; Use of Seller’s Name, Logo or Trade Dress.

 

		(a)	No Party shall make, or cause to be made, any press release or public announcement in respect of
this Agreement or the transactions contemplated herby this Agreement or otherwise communicate with any news media without the prior
written consent of the other Parties, unless otherwise required by Law or applicable stock exchange regulation, and the Parties
shall cooperate as to the timing and contents of any such press release, public announcement or communication. Unless otherwise
required by Law, the Parties shall treat and hold as confidential (and not disclose or provide access to any Person to) all terms
and conditions of this Agreement, including the existence thereof.

 

		(b)	Buyer shall not and, immediately after the Closing, shall cause the Company not to use Seller’s
name (including any derivations thereof such as “PCC”), logo or trade dress (including but not limited to colors and
logo lines) in any form or fashion.

 

		7.5	Severability. If any term or other provision of this Agreement is invalid, illegal or incapable
of being enforced by any Law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full
force and effect for so long as the economic or legal substance of the transactions contemplated by this Agreement is not affected
in any manner materially adverse to any Party. Upon determination that any term or other provision is invalid, illegal or incapable
of being enforced, the Parties shall negotiate in good faith to modify this Agreement to effect the original intent of the Parties
as closely as possible in an acceptable manner in order that the transactions contemplated by this Agreement are completed as originally
contemplated to the greatest extent possible.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	28

    	 

    

 

		7.6	Entire Agreement. This Agreement, including Exhibit A, and the Due Diligence Schedules,
the Interest Assignment, the Payoff Letter, the Closing Net Book Value Example, and the Reference Financial Statements constitute
the entire agreement of the Parties with respect to the subject matter hereof and supersede all prior agreements and undertakings,
both written and oral, between Seller and Buyer with respect to the subject matter hereof.

 

		7.7	Assignment. This Agreement may not be assigned by operation of law or otherwise without
the express written consent of Seller (which consent may be granted or withheld in the sole discretion of Seller). However, Buyer
may assign this Agreement or any of its rights and obligations hereunder to one or more wholly-owned subsidiaries without the consent
of Seller, but only if the Buyer remains obligated under this Agreement.

 

		7.8	Amendment. This Agreement may not be amended or modified except (a) by an instrument in
writing signed by, or on behalf of, Seller and Buyer or (b) by a waiver in accordance with Section 7.9.

 

		7.9	Waiver. Any Party may (a) extend the time for the performance of any of the obligations
or other acts of the other Parties, (b) waive any inaccuracies in the representations and warranties of the other Parties contained
in this Agreement or in any document delivered by the other Parties pursuant to this Agreement or (c) waive compliance with any
of the agreements of the other Parties or conditions to such Parties’ obligations contained in this Agreement. Any extension or
waiver is valid only if set forth in an instrument in writing signed by the Party to be bound thereby. Any waiver of any term or
condition will not be construed as a waiver of any subsequent breach or a subsequent waiver of the same term or condition, or a
waiver of any other term or condition of this Agreement. The failure of any Party to assert any of its rights under this Agreement
does not constitute a waiver of those rights. All rights and remedies existing under this Agreement are cumulative to, and not
exclusive of, any rights or remedies otherwise available.

 

		7.10	No Third Party Beneficiaries. Except for the provisions of Section 6.5 relating to
indemnified parties, this Agreement is binding upon, and inures solely to the benefit of, the Parties and their respective successors
and permitted assigns. Nothing herein, express or implied, is intended to or confers upon any other Person, including any union
or any employee or former employee of Seller, any legal or equitable right, benefit or remedy of any nature whatsoever, including
any rights of employment for any specified period, under or by reason of this Agreement.

 

		7.11	Specific Performance. The Parties acknowledge and agree that each Party would be irreparably
damaged if any of the provisions of this Agreement are not performed in accordance with their specific terms and that any breach
of this Agreement by any Party could not be adequately compensated in all cases by monetary damages alone. Accordingly, in addition
to any other right or remedy to which each Party may be entitled, at law or in equity, it shall be entitled to enforce and provision
of this Agreement by a decree of specific performance and to temporary, preliminary, and permanent injunctive relief to prevent
breaches or threatened breaches of any of the provisions of this Agreement, without posting any bond or other undertaking.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	29

    	 

    

 

		7.12	Governing Law. This Agreement (including any claim or controversy arising out of or relating
to this Agreement) is governed by, and construed in accordance with, the laws of the state of Delaware, without giving effect to
conflicts of laws principles that would result in the application of the law of any other state.

 

		7.13	Arbitration. The Parties agree to submit to arbitration any and all matters in dispute or
in controversy among them concerning the terms and provisions of this Agreement. All such disputes and controversies shall be determined
and adjudged by the decision of an arbitrator (the “Arbitrator”) selected by mutual agreement of the Parties or if the
Parties fail to reach agreement on the Arbitrator within ten (10) days after a party has notified the other of its interest to
submit a matter to arbitration, the Arbitrator shall be selected by the American Arbitration Association upon application made
to it for such purpose by the Parties. Arbitration shall take place in Denver, Colorado or such other place as the parties hereto
may agree in writing. The Arbitrator shall reach and render a decision in writing with respect to the amount, if any, of payment
respecting the disputed matter. The arbitration proceedings shall be held in accordance with the applicable rules of the American
Arbitration Association. Any award rendered shall be final and conclusive upon the parties and a judgment thereon may be entered
in the highest court of the forum, state or federal, having jurisdiction. The fees and expenses of the Arbitrator and the respective
fees and expenses of the parties hereto in connection with any such arbitration (including, without limitation, reasonable fees
and expenses of legal counsel and consultants) shall be paid by the party against whom a decision by the Arbitrator is rendered.

 

		7.14	Further Action. Each of the Parties shall use all reasonable efforts to take, or cause to
be taken, all appropriate action, do or cause to be done all things necessary, proper or advisable under applicable Law, and to
execute and deliver such documents and other papers, as may be required to carry out the provisions of this Agreement and complete
and make effective the transactions contemplated hereby.

 

		7.15	Counterparts; Facsimiles. This Agreement may be executed and delivered in one or more counterparts,
and by the different Parties in separate counterparts, each of which when executed is deemed an original, and all of which taken
together constitute one and the same agreement. For purposes of this Agreement, facsimile, scanned or digitally transmitted signatures
are deemed to be original signatures.

 

[Signature page follows]

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	30

    	 

    

 

The Parties have caused
this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

 

	 	PRECISION CASTPARTS CORP.
	 	 	 
	 	By:	/s/ Ruth Beyer
	 	Name:	Ruth Beyer
	 	Title:	Senior Vice President, General Counsel
	 	 	 
	 	ADVANCED FORMING TECHNOLOGY, INC.
	 	 	 
	 	By:	/s/ Jason Young
	 	Name:	Jason Young
	 	Title:	Chief Executive Officer

  

Signature Page to Purchase
Agreement

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	 

    	 

    

 

Exhibit
A

 

DEFINITIONS

 

For purposes of this Agreement:

 

“$” or
“Dollars” means United States dollars.

 

“Accounting Standards”
means the principles, policies, procedures, practices, applications, methodologies and any other discretionary elections used by
the Company in preparing the Reference Financial Statements.

 

“Acquired Company
Cash” means cash and cash equivalents (including marketable securities and short-term investments) on hand in the Company
as of the close of business on the day before the Closing Date.

 

“Action”
means any claim, action, suit, arbitration, inquiry, audit, examination, proceeding or investigation by or before any Governmental
Authority.

 

“Affiliate”
means, with respect to any specified Person, any other Person that directly, or indirectly through one or more intermediaries,
controls, is controlled by, or is under common control with, such specified Person. For purposes of this definition, “control”
(including the terms “controlled by” and “under common control with”), as applied to any Person,
means the possession, directly or indirectly, of the power to direct or cause the direction of the affairs or management of that
Person, whether through the ownership of voting securities, by contract, or otherwise.

 

“Agreement”
is defined in the preamble.

 

“Arbitrator”
is defined in Section 7.13.

 

“Benefit Arrangement”
means any benefit arrangement, obligation, custom or practice, whether or not legally enforceable, to provide benefits, other than
salary or under a Benefit Plan, as compensation for services rendered, including employment or consulting agreements, severance
agreements or pay policies, stay or retention bonuses or compensation, executive or incentive compensation programs or arrangements,
incentive programs or arrangements, sick leave, vacation pay, plant closing benefits, patent award programs, salary continuation
for disability, consulting or other compensation arrangements, workers’ compensation, retirement, deferred compensation, bonus,
stock option or purchase plans or programs, hospitalization, medical insurance, life insurance, tuition reimbursement or scholarship
programs, employee discount programs, meals, travel or vehicle allowances, any plans subject to Section 125 of the Code and
any plans providing benefits or payments in the event of a change of control, change in ownership or effective control, or sale
of a substantial portion (including all or substantially all) of the assets of any business or portion thereof.

 

“Benefit Plan”
has the meaning given in Section 3(3) of ERISA, together with plans or arrangements that would be so defined if they were not (a)
otherwise exempt from ERISA by that or another section, (b) maintained outside the United States or (c) individually negotiated
or applicable only to one person.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	 

    	 

    

 

“Business”
means the business operated by the Company.

 

“Business Day”
means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized by Law to be closed in New
York, New York USA.

 

“Buyer”
is defined in the preamble.

 

“Buyer Benefit
Plans” is defined in Section 4.4(c).

 

“Buyer Fundamental
Reps” is defined in Section 6.1(b).

 

“Buyer Indemnified
Party” is defined in Section 6.2.

 

“Closing”
is defined in Section 1.4.

 

“Closing Balance
Sheet” means the unaudited balance sheet of the Company measured as of 12:01 a.m. as of the Closing Date, prepared in
accordance with the Accounting Standards.

 

“Closing Date”
means the date of the Closing.

 

“Closing Net Book
Value” means the Net Book Value of the Company derived from the Closing Balance Sheet.

 

“Closing Net Book
Value Example” means the example of Net Book Value derived from the balance sheet of the Reference Financial Statements,
as prepared by Seller and delivered to Buyer at Closing.

 

“Closing Statement”
has the meaning set forth in Section 1.7(a).

 

“COBRA”
means Part 6 of Title I of ERISA, as amended.

 

“Code”
means the United States Internal Revenue Code of 1986, as amended.

 

“Company”
means Thixoforming LLC, a Colorado limited liability company.

 

“Company Benefit
Plans” is defined in Section 2.20(a).

 

“Company Intellectual
Property” means the Intellectual Property owned by the Company.

 

“Disputed Amounts”
has the meaning set forth in Section 1.7(d).

 

“Due Diligence
Schedules” is defined in the preamble to Article 2.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	 

    	 

    

 

“Encumbrance”
means any mortgage, pledge, assessment, security interest, lease, lien, adverse claim, levy, charge or other encumbrance of any
kind, or any conditional sale contract, title retention contract or contract committing to grant any of the foregoing.

 

“Environment”
means surface waters, ground waters, soil, subsurface strata, ambient air and all outdoor areas of any real property.

 

“Environmental
Laws” means all Laws and any Environmental Permit or condition thereof, relating to the Environment, health, safety, natural
resources or Hazardous Materials.

 

“Environmental
Permits” means all permits, approvals, licenses, registrations and other authorizations required under or issued pursuant
to any applicable Environmental Law.

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended.

 

“ERISA Affiliate”
means any Person that, together with the Company, would be or was at any time treated as a single employer under Section 414 of
the Code or Section 4001 of ERISA.

 

“Estimated Purchase
Price” means [______________]*.

 

“Governmental Authority”
means any federal, national, state, provincial, local, or similar United States or foreign government, governmental, regulatory
or administrative authority (including any Taxing authority), agency or commission or any court, tribunal, or judicial or arbitral
body.

 

“Governmental Order”
means any order, writ, judgment, injunction, decree, consent decree, stipulation, determination or award entered by or with any
Governmental Authority.

 

“Hazardous Materials”
means (a) any petroleum or petroleum products, radioactive materials, asbestos in any form that is or could become friable,
urea formaldehyde foam insulation and transformers or other equipment that contain dielectric fluid containing levels of polychlorinated
biphenyls (PCBs), hydrogen 3, and tritium (b) any other chemicals, materials or substances defined as or included in the definition
of “hazardous substances”, “hazardous wastes”, “hazardous materials”, “extremely hazardous wastes”,
“restricted hazardous wastes”, “toxic substances”, “toxic pollutants”, “contaminants” or
“pollutants”, or words of similar import, under any applicable Environmental Law, (c) any other chemical, material
or substance which is regulated by any Environmental Law or Governmental Authority and (d) a Hazardous Substance.

 

“Hazardous Substance”
has the meaning as defined in 42 USC § 9601(14) and as defined in any applicable state or local legislation or regulations.

 

“Interest Assignment”
is defined in Section 1.5(a).

 

“Indemnified Party”
means a Buyer Indemnified Party or a Seller Indemnified Party, as the case may be.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	 

    	 

    

 

“Indemnifying Party”
means Seller pursuant to Section 6.2 or Buyer pursuant to Section 6.3, as the case may be.

 

“Independent Accountant”
has the meaning set forth in Section 1.7(d).

 

“Intellectual Property”
means any and all: (a) trademarks and service marks, including all applications and registrations and goodwill related to the foregoing;
(b) copyrights, including all applications and registrations related to the foregoing; (c) trade secrets and confidential know-how;
(d) patents and patent applications; and (e) internet domain name registrations.

 

“Interest”
means all of the limited liability company membership interests of the Company.

 

“IRS”
means the United States Internal Revenue Service.

 

“Law”
means any federal, national, state, provincial, local or similar United States or foreign statute, law, ordinance, regulation,
rule, code, order, requirement or rule of law.

 

“Liability”
means any obligation or liability of any nature (including any known, unknown, undisclosed, unaccrued, unasserted, contingent,
indirect, conditional, implied, vicarious, derivative, joint, several or secondary liability), absolute or contingent, accrued
or unaccrued, mature or unmatured, due or to become due, regardless of whether such debt, obligation, duty or liability is immediately
due and payable.

 

“Losses”
means actual out-of-pocket losses, damages, liabilities, costs or expenses, including reasonable attorneys’ fees.

 

“Material Adverse
Effect” means any result, occurrence, condition, fact, change, violation, event or effect that, individually or in the
aggregate with any other result, occurrence, condition, fact, change, violation, event or effect, has a material adverse effect
or impact on the assets, liabilities, financial condition, business, results of operations of the Company taken as a whole, or
on the ability of Seller to complete the Closing pursuant to the terms hereof or comply with their obligations hereunder, other
than to the extent such effects are due to, relate to or arise from: (a) any general economic, capital market, financial, political
or regulatory conditions, worldwide or in the United States; (b) factors generally affecting the industry or markets in which the
Company operates or to which its products are sold; (c) an outbreak, escalation or material worsening of hostilities, war, acts
of terrorism (including cyber terrorism), or other national or international calamity, crisis or emergency (including natural disasters)
or any governmental or other response to any of the foregoing, in each case whether or not involving the United States; (d) changes,
or proposed changes, in Law or interpretations or implementation thereof between the date hereof and the Closing; (e) the transactions
contemplated by this Agreement and the public announcement thereof; (f) actions by customers or suppliers; (g) loss of personnel,
suppliers, or customers; (h) the delay or cancellation of orders for services and products; (i) the taking of any action (or omitting
to take action) to the extent required by this Agreement or consented to in writing by Buyer; (j) any event, change or effect resulting
from the identity of Buyer or its Affiliates; (k) any failure of the Company to meet financial projections (but not excluding any
of the reasons for or factors contributing to the failure); (l) any event, change or effect resulting from the breach of this Agreement
by Buyer; and (m) any matter disclosed in the Due Diligence Schedules; except, in the case of (a) through (b), as may have a material
disproportionate effect on the Company relative to other comparable companies operating in the industry in which the Company operates.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	 

    	 

    

 

“Material Contracts”
is defined in Section 2.9.

 

“Net Book Value”
means a sum equal to the aggregate amount of the total assets (including the Acquired Company Cash) less the current liabilities
as derived from a balance sheet of the Company.

 

“Ordinary Course
of Business” means the ordinary course of business of the Company consistent with past custom and practice (including
with respect to quantity and frequency).

 

“Owned Real Property”
means each item of real property owned by the Company.

 

“Permits”
means any permit, license, certificate, franchise, concession, ratification, permission, clearance, confirmation, endorsement,
waiver, certification, designation, rating, registration, qualification or authorization issued, granted, given or otherwise made
available by or under the authority of any Governmental Authority or pursuant to any applicable Law.

 

“Permitted Liens”
means (a) minor imperfections of title that do not materially detract from the value or impair the use of any asset; (b) liens
for Taxes, assessments, and other governmental charges or levies not yet due and payable or delinquent or which are being contested
in good faith by appropriate action and as to which adequate reserves have been established in accordance with the Accounting Standards;
(c) statutory liens of mechanics, materialmen, warehousemen or carriers, and similar liens arising by operation of Law in
the ordinary course of business for sums not yet due or being contested in good faith and as to which adequate reserves have been
established in accordance with the Accounting Standards; and (d) applicable zoning laws and ordinances and municipal regulations
and rights reserved to or vested in any Governmental Authority to control or regulate real property and realty rights.

 

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

 

“Personal Property”
is defined in Section 2.8.

 

“Post-Closing Adjustment”
has the meaning set forth in Section 1.7(a).

 

“Post-Closing Tax
Period” means any Tax Period beginning after the Closing Date and that portion of any Straddle Period from and after the
day immediately following the Closing Date as well as any extraordinary actions taken by Buyer or its Affiliates on the Closing
Date but after the time of Closing and not expressly contemplated by this Agreement.

 

“Pre-Closing Tax
Period” means any Tax Period ending on or before the Closing Date and that portion of any Straddle Period through the
Closing Date, but shall not in any event include any extraordinary actions taken by Buyer or its Affiliates on the Closing Date
but after the time of Closing and not expressly contemplated by this Agreement.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	 

    	 

    

 

“Purchase Price”
is defined in Section 1.3.

 

“Qualified Plan”
means any Company Benefit Plan that meets, purports to meet or is intended to meet the requirements of Section 401(a) of the
Code, including any previously terminated plan.

 

“Reference Financial
Statements” means the unaudited balance sheet of the Company as at December 29, 2013 and the income statement for the
9 month year to date fiscal period ending on that date, delivered to the Buyer at Closing.

 

“Resolution Period”
has the meaning set forth in Section 1.7(c).

 

“Review Period”
has the meaning set forth in Section 1.7(b).

 

“Seller Benefit
Plans” is defined in Section 2.20(a).

 

“Seller Fundamental
Reps” is defined in Section 6.1(a).

 

“Seller Indemnified
Party” is defined in Section 6.3.

 

“Seller”
is defined in the preamble.

 

“Seller’s Knowledge”
including all similar uses of the concept, including “aware,” “known to” and “knowledge of” means
the actual knowledge of the Seller after having made reasonable enquiries of Al Totten, Barry Mikucki, and Eric Podtburg, such
enquiries having regard always to their respective positions within the Company’s organization.

 

“Services”
is defined in Section 4.6.

 

“Statement of Objections”
has the meaning set forth in Section 1.7(c).

 

“Straddle Period”
means any Tax Period beginning on or before the Closing Date and ending after the Closing Date.

 

“Taxes”
means any and all taxes, charges, fees, levies, tariffs, duties, liabilities, impositions or other assessments in the nature of
a tax (together with any and all interest, penalties and additions thereto) imposed by any Governmental Authority, including, without
limitation, income, estimated income, alternative minimum, gross receipts, margin, profits, excise, real or personal property,
environmental, sales, use, value-added, ad valorem, withholding, social security, retirement, employment, unemployment, workers’
compensation, occupation, service, license, net worth, capital stock, payroll, franchise, gains, stamp, transfer and recording
taxes.

 

“Tax Period”
means any period prescribed by any Governmental Authority for which a Tax Return is required to be filed or a Tax is required to
be paid.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

 

    	 

    	 

    

 

“Tax Return”
means any report, return, information return, claim for refund, election, estimated Tax filing or payment, request for extension,
document, declaration, statement or certification filed with or submitted to, or required to be filed with or submitted to, any
Governmental Authority with respect to any Tax, including all attachments thereto and amendments thereof.

 

“Third Party Claim”
is defined in Section 6.5.

 

“Transfer Taxes”
means any and all transfer, documentary, sales, use, stamp, registration, value added, recording, escrow and other similar Taxes
incurred in connection with the transactions contemplated by this Agreement (including recording and escrow fees and any real property
or leasehold interest transfer or gains tax and any similar Tax).

 

“Treasury Regulation” means
the Treasury Regulation promulgated under the Code by the United States Department of Treasury.

 

* Information marked with an asterisk herein has been omitted and
filed separately with the Commission pursuant to a request for confidential treatment.

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