Document:

Asset Purchase Agreement

 Exhibit 4(a)21 
 Execution Copy 
 DATED 1 August, 2007 
 ASSETS PURCHASE AGREEMENT 
 By and
Among 
 ION GLOBAL (CALIFORNIA), INC. 
 CDC SOFTWARE CORPORATION 
 and 
 MOLECULAR, INC. 
 Jones Day 
 Solicitors and International Lawyers 
 29th Floor, Edinburgh Tower 
 The Landmark 
 15 Queen’s Road Central 
 Hong Kong 
 Telephone No.: (852) 2526-6895

 CAM No.: 113437-615014 
  

 TABLE OF CONTENTS 
  

					
	 Clause
	  	 	  	Page
	1.	  	INTERPRETATION	  	1
			
	2.	  	SALE AND PURCHASE OF PURCHASED ASSETS	  	9
			
	3.	  	PURCHASE PRICE	  	13
			
	4.	  	CONDITIONS	  	13
			
	5.	  	ACTION PENDING CLOSING	  	16
			
	6.	  	CLOSING	  	18
			
	7.	  	BULK SALES	  	22
			
	8.	  	EMPLOYMENT	  	22
			
	9.	  	ASSIGNMENT OF CONTRACTS AND RIGHTS	  	24
			
	10.	  	WARRANTIES BY SELLER AND CDC	  	25
			
	11.	  	INDEMNIFICATION – GENERAL AND TAX	  	42
			
	12.	  	BUYER’S RIGHTS	  	46
			
	13.	  	PROTECTION OF THE BUYER’S INTERESTS	  	46
			
	14.	  	GUARANTEE AND INDEMNITY BY CDC	  	48
			
	15.	  	WARRANTIES BY BUYER	  	49
			
	16.	  	MISCELLANEOUS	  	50
			
	17.	  	CONFIDENTIALITY OF INFORMATION RECEIVED	  	51
			
	18.	  	COSTS	  	52
			
	19.	  	NOTICES	  	52
			
	20.	  	GOVERNING LAW AND ARBITRATION	  	53

 THIS AGREEMENT is made on 1 August, 2007 
 BY AND AMONG: 
  

	(1)	ION GLOBAL (CALIFORNIA), INC., a company incorporated under the laws of California with its registered office as of the date hereof at 88 Kearny Street, 9th Floor, San
Francisco, California 94108, USA (the “Seller”); 

  

	(2)	CDC SOFTWARE CORPORATION, a company incorporated under the laws of the Cayman Islands with its registered office as at the date hereof at P.O. Box 309GT, Ugland House, South
Church Street, George Town, Grand Cayman, Cayman Islands (“CDC”); and 

  

	(3)	MOLECULAR, INC., a company incorporated under the laws of Delaware with its registered office as at the date hereof at 343 Arsenal Street, Watertown, Massachusetts 02472
U.S.A. (the “Buyer”). 

 RECITALS: 
  

	A.	The Seller has been carrying on the business of (i) providing Internet consulting services and website design and development under the name of Ion Global (the
“Business”) and (ii) providing Asian- American advertising and marketing consulting services under the name of Dae Advertising (“Dae Business”). Save for the Business and Dae Business, the Seller has not
carried on any other business. 

  

	B.	The Seller has agreed to sell and the Buyer has agreed to purchase all of the Purchased Assets (as hereinafter defined) related to the Business on the terms and conditions
hereinafter contained. All assets, liabilities and other rights and obligations of the Seller relating solely to the Dae Business are specifically excluded from the terms of this Agreement. 

  

	C.	CDC is an Affiliate of the Seller and has agreed to guarantee the performance of the Seller’s obligations hereunder as set forth in Clause 14. 

IT IS AGREED as follows: 
  

	1.	INTERPRETATION 

  

	1.1	In this Agreement and in the Schedules, the following definitions are used: 

  

			
	“AAA Rules”	  	has the meaning set forth in Clause 20.2.1.
		
	“Accounts”	  	means the unaudited financial statements of the Seller (including a balance sheet and profit and loss statement) made up to the Accounts Date and for the financial period from 1st January 2006 to the Accounts Date prepared in accordance with US GAAP and in manner consistent with past practice, copies of which are annexed hereto as
Exhibit A.
		
	“Accounts Date”	  	means 31st December 2006.

  

 - 1 - 

			
		
	“Acquisition Agreements”	  	means, collectively, (i) the assets purchase agreement dated the date of this Agreement and made by and among Ion Global Limited, CDC and wwwins Consulting Hong Kong Limited; (ii) the assets
purchase agreement dated the date of this Agreement and made by and among chinadotcom Strategic, Inc., CDC and Carat Korea Co., Ltd.; and (iii) the share purchase agreement dated the date of this Agreement and made by and among Ion Global (BVI)
Ltd., CDC and Group Carat (Nederland) BV.
		
	“Aegis Group”	  	means the group of companies comprising the Aegis Group plc and its Subsidiaries. The expression “member of the Aegis Group” shall be construed accordingly.
		
	“Affiliates”	  	in respect of any specified person or entity, means a person that directly or indirectly controls, is controlled by or is under common control with such specified person or entity or with
which such specified person or entity may be connected or may become connected as an officer, director, executive, principal, agent, representative, consultant or otherwise.
		
	“Agreed Form”	  	means, in relation to any document, such document in the terms agreed between the parties and signed by or on behalf of them for the purposes of identification.
		
	“Agreement”	  	has the meaning ascribed to such term in the heading of this Agreement.
		
	“Borrowing”	  	has the meaning set forth in Clause 10.1.15(a).
		
	“Business”	  	has the meaning ascribed to such term in Recital A of the Agreement.
		
	“Business Day”	  	means a day (not being a Saturday) on which banks are open for general banking business in San Francisco, California.
		
	“Buyer”	  	has the meaning ascribed to such term in the heading of this Agreement.
		
	“Buyer Disclosure Letter”	  	means the letter of even date herewith by the Buyer to the Seller (and acknowledged by the Seller) on the execution and delivery of this Agreement.

  

 - 2 - 

			
		
	“Buyer Indemnified Persons”	  	has the meaning set forth in Clause 11.1.2.
		
	“Buyer Liabilities”	  	means the liabilities of the Buyer under the Contracts for which Client Deposits have been paid to the Seller (the amounts as at the date hereof are set out in column 5 of Schedule
4).
		
	“Buyer Warranties”	  	has the meaning set forth in Clause 15.1.
		
	“Cash”	  	has the meaning set forth in Clause 2.1.8.
		
	“Claim”	  	has the meaning set forth in Clause 11.1.1(a).
		
	“Client Deposits”	  	has the meaning set forth in Clause 2.1.3.
		
	“Closing”	  	means the completion of the purchase by the Buyer from the Seller of the Purchased Assets in accordance with Clause 6.
		
	“Closing Date”	  	means 11 September, 2007 or such other date as is determined by the Seller and Buyer.
		
	“Closing Tangible Asset Balance Sheet”	  	means the balance sheet of the Tangible Asset made up to the Closing Date prepared in accordance with US GAAP and in manner consistent with past practice used to prepare the
Accounts.
		
	“Closing Tangible Asset Value”	  	means the value of the Tangible Asset as at the Closing Date as determined in accordance with Clause 6.6.
		
	“Contracts”	  	has the meaning set forth in Clause 2.1.3.
		
	“control”	  	means, in relation to any person at any time, the power (whether directly or indirectly and whether by ownership of share capital, possession of voting power, contract or otherwise) to
appoint the majority of the members of the governing body or management, or otherwise to control the affairs and policies of that other person.
		
	“Dae Business”	  	has the meaning ascribed to such term in Recital A of the Agreement.
		
	“Disclosed”	  	means referred to in the Disclosure Letter or the Buyer Disclosure Letter (as the case may be).

  

 - 3 - 

			
		
	“Disclosure Letter”	  	means the letter of even date herewith by the Seller to the Buyer (and acknowledged by the Buyer) on the execution and delivery of this Agreement.
		
	“Effective Employment Date”	  	has the meaning set forth in Clause 8.1.
		
	“Employees”	  	means the employees employed in the Business at Closing Date, a list of the employees employed in the Business as at the date of this Agreement is set out in Part 1 of Schedule
1.
		
	“Encumbrance”	  	means any mortgage, charge (fixed or floating), pledge, lien, hypothecation, trust, right of set off or other third party right or interest (legal or equitable) including any right of
pre-emption, assignment by way of security, reservation of title or any other security interest of any kind however created or arising or any other agreement or arrangement (including a sale and repurchase arrangement) having similar
effect.
		
	“Environment”	  	means the natural and man-made environment and all or any of the following media namely air, water and land including air within buildings and air within other natural or man-made structures
above or below ground.
		
	“Environmental Law”	  	means all laws, regulations, directives, statutes, subordinate legislation, common law and other national and local laws, all judgments, orders, instructions or awards of any court or
competent authority and all codes of practice and guidance notes which relate to the Environment or human health or the health of animals or plants.
		
	“Excluded Assets”	  	means the assets and properties of the Seller other than the Purchased Assets.
		
	“Excluded Liabilities”	  	has the meaning set forth in Clause 2.3.
		
	“Fixed Assets”	  	has the meaning set forth in Clause 2.1.2.
		
	“General Event of Indemnification”	  	has the meaning set forth in Clause 11.1.1(b).
		
	“Hong Kong”	  	means the Hong Kong Special Administrative Region of the People’s Republic of China

  

 - 4 - 

			
		
	“Independent Advisor”	  	KPMG International (San Francisco office), or in the event that either the Seller or the Buyer is engaging the services of KPMG International (San Francisco office) at the time of the request
made under Clause 6.6.3, a firm of independent nationally recognized chartered accountants agreed by the parties in writing or, failing such agreement, by Ernst & Young (San Francisco office).
		
	“Insurances”	  	means the policies of assurance and insurance in connection with the Business and the Purchased Assets and the Employees, particulars of which are set out in Schedule
3;
		
	“Intellectual Property”	  	means all of the following which is owned by, issued to or licensed to the Seller in connection with the Business, along with all income, royalties, damages and payments due or payable at
Closing or thereafter including, without limitation, damages and payments for past or future infringements or misappropriations thereof, the right to sue and recover for past infringements or misappropriations thereof and any and all corresponding
rights that, now or hereafter, may be secured throughout the world: patents, patent applications, patent disclosures and inventions (whether or not patentable and whether or not reduced to practice) and any reissue, continuation,
continuation-in-part, revision, extension or re-examination thereof; trademarks, service marks, logos, trade names, Internet domain names and corporate names together with all goodwill associated therewith, including, without limitation the use of
the current corporate name and all translations, adaptations, derivations and combinations of the foregoing; copyrights and copyrightable works (including without limitation, web sites); and all registrations, applications and renewals for any of
the foregoing; trade secrets and confidential information (including, without limitation, ideas, know-how, drawings, specifications, plans, proposals, financial, business and marketing plans, sales and promotional literature, and customer and
supplier lists and related information); information technologies (including, without limitation, software programs, data and related documentation); and all copies and tangible embodiments of the foregoing (in whatever form or
medium).

  

 - 5 - 

			
		
	“Losses”	  	means all losses, liabilities, costs (including, without limitation, reasonable attorney’s fees), charges and expenses.
		
	“Management Accounts”	  	means the unaudited balance sheet of the Seller as at the Management Accounts Date and the unaudited statements of profit and loss of the Seller for the period commencing from 1st January 2007 and ended on the Management Accounts Date prepared in accordance with US GAAP and in a manner consistent with past practice, copies of which are
annexed hereto as Exhibit B.
		
	“Management Accounts Date”	  	means 30 June, 2007.
		
	“Material Adverse Change”	  	means any material adverse change in the business, assets or position (financial, trading or otherwise), profits or prospects of the Business or any event or circumstance that may result in
such a material adverse change. Without prejudice to the generality of the foregoing and to the extent that any adverse change or series of adverse change can be quantified, any adverse change to the extent of more than US$25,000 or series of
adverse change to the aggregate extent of more than US$25,000 shall be deemed to be a material adverse change.
		
	“Payment Account Details”	  	means, in relation to any payment to be made under or pursuant to this Agreement, the name, account number, account location and other details specified by the payee and necessary to effect
payment by wire transfer to the payee.
		
	“Permit”	  	means any licence consent authorisation certification or permit required under Environmental Law.
		
	“Purchase Price”	  	has the meaning set forth in Clause 3.1.
		
	“Purchased Assets”	  	has the meaning ascribed to such term in Clause 2.1 of this Agreement.
		
	“Relief”	  	has the meaning set forth in Clause 11.2.1(b).
		
	“Seller”	  	has the meaning ascribed to such term in the heading of this Agreement.

  

 - 6 - 

			
		
	“Seller Indemnified Persons”	  	has the meaning set forth in Clause 11.1.2.
		
	“Service Agreement”	  	has the meaning set forth in Clause 6.2.1(i).
		
	“Special Event of Indemnification”	  	has the meaning set forth in Clause 11.1.1(c).
		
	“Subsidiary”	  	means any Affiliate of a company whose shares of more than fifty percent (50%) are owned by such company.
		
	“Tangible Assets”	  	means the amount by which the assets (comprising (i) Cash; (ii) Work-In Progress; and (iii) Fixed Assets) exceed the Buyer Liabilities. For the avoidance of doubt, the Tangible Asset shall be
calculated in the manner set forth on Schedule 8 and the amounts of the Cash, Fixed Assets and Buyer Liabilities estimated as at the Closing Date are set forth on Schedule 8.
		
	“Tax Authority”	  	means any local, municipal, governmental, state, federal or fiscal, revenue, customs or excise authority, body, agency or official anywhere in the world having or purporting to have power or
authority in relation to Tax, including without limitation the US Internal Revenue Service.
		
	“Tax Event”	  	has the meaning set forth in Clause 11.2.1(a).
		
	“Tax Legislation”	  	means all statutes, statutory instruments, orders, enactments, laws, by-laws, directives and regulations, whether domestic or foreign decrees, providing for or imposing any
Tax.
		
	“Taxation” or “Tax”	  	means all taxes, charges, duties, imposts, fees, levies or other assessments, and all estimated payments thereof, including without limitation income, business profits, branch profits,
excise, property, sales, use, value added (VAT), environmental, franchise, customs, import, payroll, transfer, gross receipts, withholding, social security, unemployment taxes, as well as stamp duties and other costs, imposed by any Tax Authority,
or any subdivision or agency thereof, and any interest and penalty relating to such taxes, charges, fees, levies or other assessments.

  

 - 7 - 

			
		
	“Transferred Employees”	  	has the meaning set forth in Clause 8.2.
		
	“US”	  	means the United States of America.
		
	“US$”	  	means the lawful currency of the United States of America.
		
	“US GAAP”	  	means the generally accepted accounting principles applicable in the United States, consistently applied.
		
	“Warranties”	  	has the meaning set forth in Clause 10.1.
		
	“Work-In-Progress”	  	the percentage of work completed by the Seller which has not been billed under (i) client projects which are billed on a milestone and fixed fee basis; and (ii) Contracts for which Client
Deposits have been paid to the Seller up to the Closing Date.

  

	1.2	In this Agreement, save where the context otherwise requires: 

  

	1.2.1	a reference to a statute or statutory provision shall include a reference: 

  

	 	(a)	to that statute or provision as from time to time consolidated, modified, re-enacted or replaced by any statute or statutory provision; and 

  

	 	(b)	any subordinate legislation made under the relevant statute; 

  

	1.2.2	words in the singular shall include the plural, and vice versa; 

  

	1.2.3	the masculine gender shall include the feminine and neutral and vice versa; 

  

	1.2.4	a reference to a person shall include a reference to a firm, a body corporate, an unincorporated association or to a person’s executors or administrators;

  

	1.2.5	a reference to a clause, sub-clause, Schedule and Exhibit shall be a reference to a clause, sub-clause, Schedule and Exhibit (as the case may be) of or to this Agreement;

  

	1.2.6	if a period of time is specified and commences from a given day or the day of an act or event, it shall be calculated inclusive of that day; 

  

	1.2.7	references to any legal term for any action, remedy, method or judicial proceeding, legal document, legal status, court, official or any legal concept or thing shall in respect of
any jurisdiction other than the State of Delaware be deemed to include what most nearly approximates in that jurisdiction to the Delaware legal term; 

  

	1.2.8	references to writing shall include any modes of reproducing words in a legible and non-transitory form; 

  

 - 8 - 

	1.2.9	a reference to a balance sheet or profit and loss account shall include a reference to any note forming part of it; 

  

	1.2.10	where any of the Warranties is qualified in this Agreement or in the Disclosure Letter by the expression “to the Seller’s knowledge” or “so far as the Seller is
aware” or any similar expression, that Warranty shall be deemed to include an additional statement that it has been made after due, diligent and careful enquiry to ensure that all information given in the Warranty is true, complete and accurate
in all respects; 

  

	1.2.11	any reference herein to “including” shall be construed as a reference to “including but not limited to”; 

  

	1.2.12	the headings in this Agreement are for convenience only and shall not affect the interpretation of any provision of this Agreement; and 

  

	1.2.13	references to this Agreement include this Agreement as amended or supplemented in accordance with its terms. 

  

	1.3	The designations adopted in the recitals and introductory statements preceding this clause apply throughout this Agreement and the Schedules. 

  

	2.	SALE AND PURCHASE OF PURCHASED ASSETS 

  

	2.1	The Buyer, relying on the agreements, covenants, representations, warranties, undertakings and indemnities of the Seller herein, hereby agrees to purchase from the Seller and the
Seller as legal and beneficial owner hereby agrees to sell to the Buyer on the Closing Date free and clear of all Encumbrances, the Purchased Assets (as defined below) together with all rights, title, benefits and interests of the Seller therein,
thereto and thereunder: 

  

	2.1.1	all customer accounts and mailing and prospect lists in respect of the customers of the Business listed in Part 3 of Schedule 1 together with all the Seller’s rights to service
those customers subject to Clause 9; 

  

	2.1.2	the machinery, equipment, software and computers (together with all the data stored therein) of the Business (“Fixed Assets”) listed on Schedule 2;

  

	2.1.3	all claims, benefits, rights and entitlements under the contracts, contract rights, agreements, licenses, commitments, sales and purchase orders and other instruments (whether
uncompleted or pending) of the Business (collectively, the “Contracts”) listed on Schedule 4 including all deposits or progress payments received prior to the Closing Date for services not yet provided by the Seller as at the
Closing Date in respect of the same (“Client Deposits”); 

  

	2.1.4	all of the Seller’s rights, claims, credits, causes of action or rights of set-off against third parties relating to the Purchased Assets, including, without limitation,
unliquidated rights under manufacturers’ and sellers’ warranties; 

  

	2.1.5	the Intellectual Property owned by or issued to the Seller or licensed to the Seller from a third party listed on Schedule 6; 

  

 - 9 - 

	2.1.6	all claims and rights (if any) under the transferable licenses, including, but not limited to, licenses, permits, consents, authorizations, certificates and approvals of any
governmental agency or other governmental authorizations listed on Schedule 7; 

  

	2.1.7	all books, accounts, records, files and papers, whether in hard copy or computer format, including, without limitation, sales and promotional literature, manuals and data, sales and
purchase correspondence, lists of present and former suppliers, lists of present and former customers, personnel and employment records (subject to all applicable laws), and any information relating to taxes imposed on the Business or the Purchased
Assets to the extent such materials relate directly to the Business or the Purchased Assets; 

  

	2.1.8	the cash on hand or deposit at banks representing all the Client Deposits (“Cash”), the amount as at the date hereof is set out in column 4 of Schedule 4;

  

	2.1.9	all of the assets, properties and rights related to the Business acquired by the Seller after the date of this Agreement; 

  

	2.1.10	all goodwill associated with the Business or the Purchased Assets, together with the right to represent to third parties that the Buyer is the successor to the Business,

 (collectively, the “Purchased Assets”). 
  

	2.2	Required Consent 

  

	2.2.1	Without prejudice to Clause 4, in the event that the Seller is unable to transfer to the Buyer a Contract on the Closing Date because consent from the relevant party to the
Contract (other than the Seller) for such transfer has not been obtained on or before that date, the Seller shall use its reasonable efforts to obtain such consent and transfer the full benefit and legal title of such Contract to the Buyer within 60
days from the Closing Date. 

  

	2.2.2	The Buyer shall use its reasonable efforts to assist the Seller in obtaining the consent for the purpose of Clause 2.2.1. Without prejudice to Clause 4, the Buyer may
at its absolute discretion waive any of the requirements under Clause 2.2.1. 

 No assumption of liabilities 
  

	2.3	Save as herein provided to the contrary, the Buyer is not assuming any obligation or liability of any kind or nature whatsoever of the Seller, whether or not related to the
Purchased Assets or the Business, including, without limitation, the following liabilities and obligations of the Seller: 

  

	2.3.1	all Claims, demands, obligations or liabilities for Tax for all periods prior to the Closing Date and all Claims, demands, obligations or liabilities for the payment of any transfer
tax, stamp duty or recording or filing fees, if any, imposed upon the sale, transfer, assignment and conveyance of the Purchased Assets; 

  

	2.3.2	 all Claims, demands, obligations, liabilities or indemnifications of any nature whatsoever, whether or not accrued, absolute, contingent, determined or
determinable, actual or threatened, known or unknown, which arose or were incurred on or before the Closing Date, or which are based on events occurring on or before the Closing 

  

 - 10 - 

	 	 
Date, or which are based on or related to the operation of the Business or ownership or use of the Purchased Assets on or before the Closing Date,
notwithstanding that the date on which the Claim, demand, liability or obligation is asserted is after the Closing Date; 

  

	2.3.3	all Claims, demands, obligations, liabilities or indemnifications of any nature whatsoever relating to or resulting from the bad faith, willful misconduct or negligence of any
Affiliate or other shareholders, managers, directors, officers, employees, agents or representatives of the Seller (including, but not limited to, sexual harassment, discrimination, wrongful termination or other claims involving the workplace),
whether actual or threatened, which arose or were incurred on or before the Closing Date, or which are based on events occurring on or before the Closing Date, or which are based on or related to the operation of the Business or ownership or use of
the Purchased Assets on or before the Closing Date, notwithstanding that the date on which the Claim, demand, obligation, liability or indemnification is asserted is after the Closing Date; 

  

	2.3.4	all Claims, demands, obligations, liabilities or indemnifications of any nature whatsoever relating to any rent, rate or service charge in respect of the premises used by the
Business; 

  

	2.3.5	all Claims, demands, obligations or liabilities of any nature whatsoever of the Seller to any of its Affiliates or shareholders; 

  

	2.3.6	all accounts payable of the Seller; 

  

	2.3.7	all indebtedness of the Seller or other liabilities of the Seller for any Borrowing; 

  

	2.3.8	any obligation or liability of the Seller which were required to be Disclosed, listed or described in this Agreement and which were not so Disclosed, listed or described;

  

	2.3.9	any obligation or liability of the Seller for fees, costs and expenses relating to the negotiation, execution and delivery of this Agreement and the consummation of the transactions
contemplated thereby, including, without limitation, any broker’s or finder’s fees or legal, accounting and other professional or consulting fees and expenses; 

  

	2.3.10	any Claim, demand, obligation or liability of the Seller existing at the Closing Date relating to accrued but unpaid salary or incentive, bonus or profit sharing compensation or
payments or vacation, holiday, severance pay or any equity or option grants or issuances; 

  

	2.3.11	any Claim, demand, obligation or liability relating to any accrued or other liability (as required by US GAAP) for premiums, contributions or payments (including matching
contributions or payments) required to be made by the Seller under or as a result of any pension, retirement, compensation or similar plan or for any penalties, interests or other charges relating thereto; 

  

	2.3.12	any obligation or liability of the Seller to (a) any of its employees who are offered employment with the Buyer but who on the Closing Date do not accept such employment, and
(a) any former employees of the Seller; 

  

 - 11 - 

	2.3.13	any obligation or liability of the Seller under any policies of insurance; 

  

	2.3.14	any obligation or liability of the Seller arising out of or resulting from the Seller’s noncompliance with any applicable law or regulation; 

  

	2.3.15	any liability, obligation or performance of the Seller under this Agreement; 

  

	2.3.16	any Claim, demand, liability or obligation of the Seller arising out of or resulting from the Seller’s acts or omissions occurring before, on or after the Closing Date;

  

	2.3.17	any liability under or related to the credit cards listed in Section 10.1.15(a)(i) of the Disclosure Letter; and 

  

	2.3.18	any liability or obligation of the Seller relating to the Excluded Assets, 

 (collectively the “Excluded Liabilities”). 
  

	2.4	The Seller shall promptly pay and discharge in full when due or required to be discharged, or contest in good faith, all Excluded Liabilities. 

  

	2.5	Save as provided herein to the contrary, after the Closing, any regular periodic charges with respect to the Business or the Purchased Assets, including amounts payable with respect
to personal property Taxes relating to the Purchased Assets, which become due and payable on or after the Closing Date and relate to periods that begin before and end after the Closing Date, shall be prorated and adjusted between the Seller and the
Buyer as of the Closing Date on a per diem basis, and the Seller shall be responsible for and pay to the Buyer the portion of such amounts allocable to the period prior to the Closing Date for which payment is due on or after the Closing Date within
five (5) Business Days of demand from the Buyer upon presentation of the relevant invoice(s) relating to such charges provided, however, that the Seller shall not be required to pay to the Buyer any amount it intends to dispute in good faith
and shall provide the Buyer written notice of its intention to dispute such amount within such five (5) Business Day period. 

  

	2.6	From and after the Closing, the Buyer shall have the right and authority to collect for its own account all receivables and other related items that are included in the Purchased
Assets. To the extent that, after the Closing, (i) the Buyer or any of its Affiliates receive any payment that is for the account of the Seller according to the terms of this Agreement, or the Seller makes a payment on behalf of the Buyer, the
Buyer shall deliver such amount to the Seller or (ii) the Seller or any of its Affiliates receives any payment that is for the account of the Buyer or any of its Affiliates according to the terms of this Agreement, or the Buyer makes a payment
on behalf of the Seller, the Seller shall deliver such amount to the Buyer. All amounts due and payable under this Clause 2.6, if any, shall be due and payable by the applicable party in immediately available funds, by wire transfer to an
account designated in writing by the other party and shall be delivered to the other party within ten (10) Business Days of receipt thereof. 

  

 - 12 - 

	3.	PURCHASE PRICE 

  

	3.1	As consideration for the purchase of the Purchased Assets, in reliance upon the representations and warranties, covenants, agreements and undertakings of the Seller made herein, and
subject to the terms and conditions of this Agreement, the Buyer shall pay to the Seller (or where applicable, the Buyer shall remit to the Seller), the sum of US$500,000 (the “Purchase Price”). 

  

	3.2	Any payments made to a party to this Agreement pursuant to this Agreement shall be made in cash in US$ and effected by crediting the account specified in the Payment Account Details
of the payee(s) by way of wire transfer in immediately available funds on or before the due date for payment which shall be a good discharge of the party required to make payment in respect of its obligations to make such payment.

  

	3.3	The Buyer shall be entitled to deduct or withhold from the Purchase Price such amount as the Buyer may be required to deduct or withhold on account of any Tax under any applicable
law or regulation and pay only the balance thereof to the Seller and in such event, the payment of such balance of the Purchase Price (after the deduction or withholding as aforesaid) shall be deemed to be a good discharge of the Buyer’s
obligations to make payment of the Purchase Price hereunder. 

  

	4.	CONDITIONS 

  

	4.1	Conditions Precedent of the Buyer 

 The obligations
of the Buyer under this Agreement are subject to the Buyer’s satisfaction that the following conditions have been duly fulfilled: 
  

	4.1.1	completion of satisfactory (in Buyer’s sole and discretionary judgment) legal, commercial, IT, human resources, taxation, financial and clients due diligence by Buyer;

  

	4.1.2	the completion of any formal internal corporate approvals as may be required by Aegis Group plc including approval by the board of directors and Chief Executive Office of Aegis
Group plc; 

  

	4.1.3	the parties to the Contracts set out in paragraphs (1) to (3) of Schedule 4 (other than the Seller) namely, (i) AIG.com, Inc. and Software Galeria, Inc.;
(ii) Walt Disney Parks and Resorts; and (iii) Medallurgy LLC having given each of their respective consents to the assignments or novations of the same in favour of the Buyer; 

  

					
	4.1.4	 	(a)	 	there having occurred no Material Adverse Change in the period between the date of this Agreement and Closing;

  

	 	(b)	nothing having occurred or been omitted which is, or had it occurred or been omitted on or before the date of this Agreement would have constituted, a breach of the Warranties;

  

	 	(c)	no order or judgement of any court or governmental, statutory or regulatory body having been issued or made prior to Closing, which has the effect of making unlawful or otherwise
prohibiting the purchase of the Purchased Assets by the Buyer; 

  

 - 13 - 

	 	(d)	each of the Seller and CDC having performed or complied with, in all material respects, all covenants, obligations and agreements contemplated by this Agreement to be performed or
complied with by it at or prior to Closing, including without limitations those set forth in Clause 5; 

  

	 	(e)	all necessary notification and filings having been made, the expiry, lapsing or termination of all applicable waiting periods (including extensions thereof) under any applicable
legislation or regulations and all the licences, authorisations, orders, grants, confirmations, permissions, registrations and other approvals necessary or desirable for or in respect of the proposed sale of the Purchased Assets by the Seller to the
Buyer having been obtained from appropriate governments, governmental, supranational or trade agencies, courts or other regulatory bodies on terms satisfactory to the Buyer and such licences, authorisations, orders, grants, confirmations,
permissions, registrations and other approvals remaining in full force and effect. 

  

	4.1.5	the Seller having certified in writing the matters mentioned under Clause 4.1.4. 

  

	4.1.6	the simultaneous and successful completion of the transactions contemplated under all the Acquisition Agreements to the satisfaction of the Buyer. 

  

	4.2	Conditions Precedent of the Seller 

 The obligations
of the Seller under this Agreement are subject to the Seller’s satisfaction that the following conditions have been duly fulfilled: 
  

	4.2.1	the completion of any formal internal corporate approvals as may required by the Seller including approval by the Seller’s and its Affiliates’ board of directors and
stockholders. 

  

					
	4.2.2	 	(a)	 	there having occurred no Material Adverse Change in the period between the date of this Agreement and Closing;

  

	 	(b)	nothing having occurred or been omitted which is, or had it occurred or been omitted on or before the date of this Agreement would have constituted, a breach of the Buyer
Warranties; 

  

	 	(c)	no order or judgement of any court or governmental, statutory or regulatory body having been issued or made prior to Closing, which has the effect of making unlawful or otherwise
prohibiting the purchase of the Purchased Assets by the Buyer; 

  

	 	(d)	the Buyer having performed or complied with, in all material respects, all covenants, obligations and agreements contemplated by this Agreement to be performed or complied with by
it at or prior to Closing; 

  

	 	(e)	 all necessary notification and filings having been made, the expiry, lapsing or termination of all applicable waiting periods (including extensions thereof) under
any applicable legislation or regulations and all the licences, authorisations, orders, grants, confirmations, permissions, registrations and other approvals necessary for or desirable for or in respect of the proposed sale 

  

 - 14 - 

	 	 
of the Purchased Assets by the Seller to the Buyer having been obtained from appropriate governments, governmental, supranational or trade agencies, courts
or other regulatory bodies on terms satisfactory to the Seller and such licences, authorisations, orders, grants, confirmations, permissions, registrations and other approvals, remaining in full force and effect. 

  

	4.2.3	the simultaneous and successful completion of the transactions contemplated under all the Acquisition Agreements to the satisfaction of the Seller. 

  

	4.3	Responsibility for Satisfaction 

  

	4.3.1	The Seller undertakes to use its reasonable endeavours to ensure the satisfaction of the conditions set out in Clauses 4.1.3 to 4.1.5 as soon as possible after the date of
this Agreement and before Closing, and shall promptly give notice to the Buyer upon satisfaction of the same. 

  

	4.3.2	The Buyer undertakes to use its reasonable endeavours to ensure the satisfaction of the conditions set out in Clauses 4.2.2 (b) and (d) as soon as possible after
the date of this Agreement and before Closing, and shall promptly give notice to the Seller upon satisfaction of the same. 

  

	4.3.3	Without prejudice to the foregoing, it is agreed that all requests and enquiries from any government, governmental, supranational or trade agency, court or regulatory body shall be
dealt with by the Seller and the Buyer in consultation with each other and each of the Seller and the Buyer shall upon mutual agreement, promptly co-operate with and provide all necessary information and assistance reasonably required by such
government, agency, court or body upon being requested to do so by the other. 

  

	4.3.4	The Buyer may at any time by notice in writing to the Seller, waive any of the conditions in Clause 4.1, in whole or in part, or extend the time set out in Clause 4.4
within which the conditions set out in Clause 4.1 shall be satisfied and such waiver may be made subject to such terms and conditions as are determined by the Buyer. 

  

	4.3.5	The Seller may at any time by notice in writing to the Buyer, waive any of the conditions in Clause 4.2, in whole or in part, or extend the time set out in Clause 4.4
within which the conditions set out in Clause 4.2 shall be satisfied and such waiver may be made subject to such terms and conditions as are determined by the Seller. 

  

	4.3.6	Should the Buyer or the Seller become aware of anything which will or may prevent any of the conditions set out in Clause 4.1 or Clause 4.2 from being satisfied by the
time and date required by Clause 4.4.1 and Clause 4.4.2 the relevant party shall forthwith notify the other in writing. 

  

	4.4	Non-Satisfaction 

  

	4.4.1	If any of the conditions in Clause 4.1 is not satisfied or waived by the Buyer on or before 11 September, 2007 or such other date as the parties may agree or the Buyer
becomes aware of any fact that would prevent any of the conditions in Clause 4.1 from being satisfied, the Buyer may, in its sole discretion, terminate this Agreement and no party shall have any claim against any other under it, save for any
claim arising from any antecedent breach (including breach of any undertaking contained in Clause 4.3.1). 

  

 - 15 - 

	4.4.2	If any of the conditions in Clause 4.2 is not satisfied or waived by the Seller on or before 11 September, 2007 or such other date as the parties may agree or the Seller
becomes aware of any fact that would prevent any of the conditions in Clause 4.2 from being satisfied, the Seller may, in its sole discretion, terminate this Agreement and no party shall have any claim against any other under it, save for any
claim arising from any antecedent breach (including breach of any undertaking contained in Clause 4.3.2). 

  

	4.4.3	In the event that the Buyer or Seller shall terminate this Agreement in accordance with Clause 4.4.1 or Clause 4.4.2 (as the case may be), and without limiting the
Buyer’s or Seller’s right to claim, all obligations of the Buyer and Seller under this Agreement shall, unless otherwise expressly stated, cease, but, for the avoidance of doubt, all rights and liabilities of the parties which have accrued
before such termination shall continue to exist. 

  

	5.	ACTION PENDING CLOSING 

  

	5.1	Seller’s General Obligations 

 The Seller
undertakes to procure that from the date of this Agreement until Closing: 
  

	5.1.1	the Seller will carry the Business only in the ordinary and usual course and in the manner and scope carried on as at the date of this Agreement, save insofar as agreed in writing
by the Buyer; 

  

	5.1.2	the Buyer and its agents will, upon reasonable notice, be allowed access to the clients, employees and premises of the Seller and shall also be allowed access to, and to take copies
of, the books and records of the Seller including, without limitation, the statutory books, minute books, leases, licences, contracts, details of receivables, Intellectual Property, tax records, supplier lists and customer lists in the possession or
control of the Seller which relate solely to the Business and the Purchased Assets, subject always to the applicable protections of confidentiality set forth in Clause 17 hereof; 

  

	5.1.3	such representatives and advisers as the Buyer requests may be designated to work with the Seller with regard to the management and operations of the Business. The Seller will
consult with such representatives and advisers with respect to any action which may materially affect the Business of the Seller taken as a whole. The Seller will furnish to such representatives and advisers such information as it may reasonably
request for this purpose; 

  

	5.1.4	the Seller shall take all commercially reasonable efforts consistent with past practices to maintain the present status of its property and assets (including the Purchased Assets);

  

	5.1.5	the Seller shall take all commercially reasonable efforts consistent with past practices to maintain the validity of its Intellectual Property set out in Schedule 6;

  

 - 16 - 

	5.1.6	save only as may be necessary to give effect to this Agreement, the Seller shall not commit, voluntarily permit or procure any act or omission which would render any of the
Warranties untrue, inaccurate or misleading in any respect upon Closing; 

  

	5.1.7	the Seller shall use its commercially reasonable efforts to promptly provide to the Buyer monthly management accounts in the usual form generated by the Seller;

  

	5.1.8	the Seller shall authorize the Buyer to obtain from the California State Board of Equalization (“State Board of Equalization”) a certificate stating that no taxes,
interest or penalties are due with regard to the Seller and shall permit the Buyer to provide the Seller’s details including its name, address, registration or permit number and a description of the transactions contemplated under this
Agreement to the State of Board of Equalization upon the Buyer’s application for such certification. 

  

	5.2	Restrictions on the Seller 

 Without prejudice to
the generality of Clause 5.1, except as may be expressly provided or contemplated in this Agreement or with the prior written consent of the Buyer (which consent shall not be unreasonably withheld), the Seller shall not between the date of
this Agreement and Closing with respect to the Business or the Purchased Assets: 
  

	5.2.1	incur or enter into any agreement or commitment involving any capital expenditure in excess of US$25,000; 

  

	5.2.2	enter into or amend any contract or commitment in respect of the Business: (i) which is not capable of being terminated without compensation at any time with one months’
notice or less; or (ii) which is not in the ordinary and usual course of business and on arms’ length terms or (iii) which involves or may involve total revenue or total expenditure in excess of US$25,000; 

  

	5.2.3	enter into any leasing, hire purchase or other agreement or arrangement for payment on deferred terms otherwise than in the ordinary course of business; 

  

	5.2.4	incur any indebtedness otherwise than in the ordinary and usual course of business; 

  

	5.2.5	save as required by law, make any amendment to the terms and conditions of employment or engagement (including, without limitation, remuneration, pension entitlements and other
benefits) of any employee, consultants or interns employed by the Seller under the Business, provide or agree to provide any gratuitous payment or benefit to any such person or any of their dependants, or dismiss or terminate (except with good
cause) the employment of any employee or engage or appoint any additional employee for the Business; 

  

	5.2.6	acquire or agree to acquire or sell, transfer, lease, assign or dispose any Purchased Assets or agree to sell, transfer, lease, assign or dispose of any Purchased Assets or enter
into or amend any material contract or arrangement in respect of the Purchased Assets; 

  

	5.2.7	sell, convey, lease, assign or otherwise transfer or dispose of any interest in any amounts receivable except in the ordinary course of business; 

  

 - 17 - 

	5.2.8	delay making payment to any trade creditors of the Business generally beyond the date on which payment of the relevant trade debt should be paid in accordance with credit periods
authorised by the relevant creditors (or (if different) the period extended prior to the date of this Agreement by creditors in which to make payment); 

  

	5.2.9	amend, to any material extent, any of the terms on which goods, facilities or services are supplied, such supplies being material in the context of the Business, except where
required to do so in order to comply with any applicable legal or regulatory requirement; 

  

	5.2.10	enter into any guarantee, indemnity or other agreement to secure any obligation of a third party or create or agree to create any Encumbrance over any of the Purchased Assets;

  

	5.2.11	amend or discontinue any Insurance contract, fail to notify any claim under the Insurances in accordance with the provisions of the relevant policy or settle any such claim below
the amount claimed; 

  

	5.2.12	make any change to its accounting practices or policies or accounting reference date or amend its memorandum or articles of association (or equivalent constitutional documents);

  

	5.2.13	make any substantial change in the nature or organisation of the Business; 

  

	5.2.14	discontinue or cease to operate all or a material part of the Business or resolve to be wound up; 

  

	5.2.15	change its residence for Taxation purposes; 

  

	5.2.16	grant a licence of or assign or otherwise dispose of or create any Encumbrance over any Purchased Assets in favour of any third party (not being the Buyer); or

  

	5.2.17	commence, compromise or discontinue any legal or arbitration proceedings relating to the Business and the Purchased Assets (other than in respect of the collection of debts which
are not material in the context of the Business in the ordinary and usual course of business). 

  

	5.3	Exercise of Buyer’s Rights 

 It is hereby
acknowledged (for the avoidance of doubt) that none of the provisions of this Clause 5 or the exercise or failure to exercise by the Buyer of its rights thereunder, shall give rise to any liability on the part of the Buyer or any of its
employees, consultants or representatives or any person connected with it (except to the extent that any losses or damages to the Seller are caused by the Buyer’s gross negligence or wilful misconduct in respect of the exercise of the
Buyer’s right under Clause 5.1.2). 
  

	6.	CLOSING 

  

	6.1	Closing shall take place at the offices of Jones Day at 29th Floor, Edinburgh Tower, The Landmark, 15 Queen’s Road Central, Hong Kong or such other place as the parties may
agree, on the Closing Date. 

  

 - 18 - 

	6.2	On the Closing Date: 

  

	6.2.1	the Seller shall deliver or cause to be delivered to the Buyer: 

  

	 	(a)	such conveyances, assurances, transfers, assignments, releases, novation agreements, consents and other documents duly executed by the relevant parties as the Buyer may require to
vest in the Buyer the full benefit of and valid legal title to the Purchased Assets and all other rights and assets hereby agreed to be sold and the full benefit of this Agreement including: 

  

	 	(i)	Bill of Sale and Assignment of the Purchased Assets in substantially the form attached as Schedule 12 duly executed by the Seller and CDC; 

  

	 	(ii)	duly executed assignments or novation agreements in the Agreed Form of the Contracts set out in paragraphs (1) to (3) of Schedule 4; 

  

	 	(b)	all subsisting contracts, licenses and permits in connection with the Purchased Assets and all books, accounts, papers, records and other documents (including financial records)
relating to the Purchased Assets and all lists of customers and suppliers and other information or documents in relation to the Business as the Buyer may require; 

  

	 	(c)	all the designs and drawings, plans, technical and sales publications, advertising material, brochures, catalogues and other technical and sales matter of the Seller in relation to
the Business together with any plates, blocks, negatives and other like material relating thereto; 

  

	 	(d)	any other documents of title or transfer of ownership relating to any of the other Purchased Assets; 

  

	 	(e)	such other documents as may be required to give to the Buyer good title to the Purchased Assets, to enable the Buyer or its nominees to become the registered owner thereof and to
consummate the transactions contemplated by this Agreement; 

  

	 	(f)	duly notarised power of attorney under which any document is executed on behalf of the Seller if applicable; 

  

	 	(g)	certificate in the form set out in Part 1 of Schedule 10 duly executed by the Seller confirming the Warranties; 

  

	 	(h)	certificate in writing duly executed by the Seller pursuant to Clause 4.1.5 confirming the matters mentioned thereunder; 

  

	 	(i)	the service agreement in substantially the form attached hereto as Schedule 11 (“Service Agreement”) duly executed by Wei-Tai Kwok, and the employment letters in
substantially the form attached hereto as Part 2 of Schedule 1 duly executed by Simon Mathews, James Douglas and Camila Carvalho; 

  

 - 19 - 

	 	(j)	legal opinion from Cayman counsel in the Agreed Form and dated as of the Closing Date; 

  

	 	(k)	duly executed release in the Agreed Form releasing the Transferred Employees from certain obligations and liabilities under the existing employment agreements (including any
non-compete or non-disclosure provisions and any non-solicitation undertakings thereunder) permitting the Transferred Employees to perform their obligations under the relevant employment agreements with the Buyer and, in the case of any
non-solicitation undertakings, only to the extent necessary to assist the Seller in compliance of its obligations under Clause 8.2; 

  

	 	(l)	[intentionally left blank] 

  

	 	(m)	a reasonably current long form Good Standing Certificate of the Seller issued by the California Secretary of State; 

  

	 	(n)	appropriate payoff letters and termination statements under the Uniform Commercial Code and other instruments as may be requested by the Buyer to extinguish all outstanding
indebtedness of the Seller (including indebtedness to Affiliates) in respect of the Purchased Assets and all Encumbrances related thereto as reasonably directed by the Buyer; 

  

	 	(o)	reasonably current Certificate of Good Standing and Incumbency of CDC; 

  

	 	(p)	signed copies of the resolutions duly passed by: 

  

	 	(i)	the board of directors and the shareholder of the Seller; and 

  

	 	(ii)	the board of directors of CDC, approving this Agreement, the transfer of the Purchased Assets and the transactions contemplated hereunder, and the execution, delivery and
performance of this Agreement by the Seller and CDC, in form and substance satisfactory to the Buyer; 

 a schedule prepared by
the Seller setting out the Work-In-Progress for the purpose of the Buyer’s preparation of the Calculation Statement. 
  

	6.2.2	the Seller shall permit the Buyer to take possession of the Purchased Assets. 

  

	6.3	Upon compliance by the Seller with the provisions of Clause 6.2, the Buyer shall at Closing pay the Purchase Price to the Seller in accordance with Clauses 3.2 and
3.3. 

  

	6.4	The Buyer shall provide Seller with a certificate in the form set out in Part 2 of Schedule 10 duly executed by the Buyer confirming the Buyer Warranties. 

 

	6.5	It is a condition to Closing that (and the Buyer and Seller shall have no obligation to complete the sale and purchase of the Purchased Assets hereunder unless) the transactions
contemplated under all the Acquisition Agreements shall be completed simultaneously and successfully with the completion of the sale and purchase of the Purchased Assets hereunder. 

  

 - 20 - 

	6.6	Closing Tangible Asset Value  

  

	6.6.1	Within a period of two (2) months after Closing, the Buyer shall at its sole cost and expense prepare the Closing Tangible Asset Balance Sheet and provide the Seller with a
written statement of its calculation of the Closing Tangible Asset Value (the “Calculation Statement”) according to the Closing Tangible Asset Balance Sheet. The Seller shall render reasonable assistance to the Buyer and provide
such information as the Buyer may reasonably require in order to enable the Buyer to prepare the Closing Tangible Asset Balance Sheet at the Buyer’s sole cost and expense. 

  

	6.6.2	Upon receiving a Calculation Statement, the Seller shall within thirty (30) days either (i) notify the Buyer in writing that they agree with the Calculation Statement or
(ii) notify the Buyer in writing that it does not agree with the Calculation Statement and stating the grounds of its disagreement and its own calculation of the Closing Tangible Asset Value together with a copy of any financial information
used in making such calculation (the “Dispute Notice”). The Buyer shall give reasonable assistance to the Seller and its representatives and agents including without limitation access to the books and records relating to the
Business and Purchased Assets necessary for the Seller to evaluate the Calculation Statement. If the Buyer does not receive any Dispute Notice from the Seller within such thirty (30) days period, the Seller shall be deemed to have agreed to the
Calculation Statement and the Buyer’s calculation of the Closing Tangible Asset Value. 

  

	6.6.3	In the event a Dispute Notice is given by the Seller according to Clause 6.6.2, the Seller and the Buyer shall meet and attempt in good faith to resolve the items or amounts
in dispute. If the Seller and the Buyer are unable to reach an agreement within five (5) days after receipt of the Dispute Notice by the Buyer, either party may request an Independent Advisor to review the disputed items or amounts and compute
the Closing Tangible Asset Value in question. In making its calculation, the Independent Advisor shall consider only the items or amounts in dispute (and to the extent required, any other items or amounts necessary to derive the disputed items or
amounts). Such determination shall be made within fourteen (14) days after such request and shall be conclusive and binding on the parties. The fees, costs and expenses of the Independent Advisor shall be borne by the party whose calculation of
the Closing Tangible Asset Value is furthest from the Independent Advisor’s calculation. 

 If the Closing Tangible Asset
Value is less than the sum of US$25,000, the Seller shall forthwith pay to the Buyer the amount of the deficit. If the Closing Tangible Asset Value is greater than the sum of US$25,000, the Buyer shall forthwith pay to the Seller the amount by which
the Closing Tangible Asset Value exceed US$25,000. 
  

	6.7	Client Billing and Work-In-Progress 

  

	6.7.1	Upon the execution of this Agreement by the parties, the Seller shall notify all of its clients that are billed on a monthly basis of the transactions contemplated by this
Agreement. The Seller shall bill such clients for all services provided through Closing Date and such amounts shall be paid by the clients directly to the Seller. If any client does not accept such billing arrangement, the Buyer shall bill the
relevant client and remit payment received from the client in accordance with Clause 2.6. 

  

 - 21 - 

	6.7.2	For all client projects which are billed on a milestone and fixed fee basis and Contracts for which Client Deposits have been paid to the Seller, the Seller and Buyer shall
negotiate in good faith to agree upon the Work-In-Progress for each such project and Contract. Any disagreements regarding calculation of the Work-In-Progress as set out in the Calculation Statement shall be resolved in accordance with the mechanism
set forth in Clause 6.6 of this Agreement. 

  

	6.7.3	The Seller warrants and agrees that the Buyer can bill the clients in full in respect of all account receivables for Work-In-Progress and that such accounts receivables shall be
collectable in full. The Seller shall reimburse the Buyer any amount of the account receivables included in the calculation of the Work-In-Progress which is not fully paid by the relevant debtor within a period of six (6) months after Closing
(“Outstanding Accounts Receivables”). Upon the Seller’s reimbursement of the Outstanding Accounts Receivables to the Buyer, the Buyer shall assign the right for collection of the Outstanding Account Receivables to the Seller.

  

	7.	BULK SALES 

 The Buyer hereby waives, in connection
with the transactions contemplated by this Agreement, compliance with the “bulk sales” provision of Article 6 of the Uniform Commercial Code as it is in effect in the states where the Seller owns assets to be conveyed to the Buyer
hereunder and other similar bulk transfer notice provisions other than bulk sale tax notice provisions. The Seller shall indemnify and hold harmless the Buyer against any and all liabilities that may be asserted by third parties against the Buyer as
a result of such non-compliance. 
  

	8.	EMPLOYMENT 

  

	8.1	 Prior to the Closing Date, the Seller shall give notice to the Employees terminating their employment in accordance with any applicable laws including but not
limited to any laws related to foreign national work visa, with effect from the Closing Date or such later date as shall be required in order to comply with the provisions of the applicable laws. On or before Closing, the Buyer shall offer to such
Employees employment with the Buyer on base salary terms no less favourable from those on which the Employees are currently employed by the Seller as set forth on Part 1 of Schedule 1, and on such additional terms as are set forth on Part 2 of
Schedule 1 with effect from the Closing Date or such later date as required by applicable laws (“Effective Employment Date”), such offer notices to be in Agreed Form. If the Effective Employment Date for any Employee shall fall on a
date after the Closing Date, then, for the period from the Closing Date to the Effective Employment Date, the Seller shall, upon the Buyer’s request, and pursuant to an agreement with terms and conditions reasonably satisfactory to the Buyer
and the Seller, second such Employee as the Buyer so requests to the Buyer. The Buyer will, during the term of secondment (“Secondment Period”) of each such Employee, be responsible for the payment of the salaries, expenses and
benefits of such Employee relating to and during such secondment (“Second Payments”). In addition, the Buyer shall, during the Secondment Period for any Seconded Employee, accrue bonuses for such Seconded Employee in accordance with
the Buyer’s bonus policies then in effect. Such bonuses shall be paid to the Seconded Employee in accordance with the Buyer’s bonus policies then in effect after the Seconded Employee becomes an employee of the Buyer. The Buyer may
terminate the secondment of any Employee at any time; 

  

 - 22 - 

	 	 
provided, however that the Buyer shall provide Seller five (5) days written notice prior to such termination; provided further, however, that Buyer
shall not be required to provide such notice to the Seller before terminating the secondment of such Employee if the Employee has engaged in any felony, fraud, dishonesty, gross negligence, misconduct or conduct that brings Buyer or any subsidiary
or affiliate of Buyer into substantial public disgrace or disrepute. The Buyer hereby undertakes to remit to the Seller any Secondment Payments paid by the Seller within ten (10) Business Days of the Buyer’s receipt of a statement from the
Seller setting out a breakdown of such payments relating to each seconded Employee. 

  

	8.2	The Seller shall use commercially reasonable efforts to procure the Employees to consider employment with the Buyer and will assist the Buyer in making offers and in hiring the
Employees, including by providing the Buyer with access to such Employees during the period from the effective date of this Agreement until Closing. The Seller shall not take, and shall cause each of its Affiliates not to take, any action that would
impede, hinder, interfere or otherwise compete with the Buyer’s effort to hire any Employees. Employees who receive and accept offers of employment from the Buyer are referred to as “Transferred Employees” as of the Effective
Employment Date and shall enter into such agreements as may be requested by the Buyer, which may include customary invention assignment, confidentiality, non-solicitation and non-compete provisions. The Seller shall be responsible for Employees who
do not become Transferred Employees and for all severance, costs and expenses related to such Employees. 

  

	8.3	Save as provided in the third to last sentence of Clause 8.1, no employment related liabilities arising through the Effective Employment Date with respect to any Transferred
Employees, any other Employees or employees of the Seller or any Subsidiary of the Seller or any of their respective beneficiaries shall be assigned to or assumed by the Buyer. The Seller shall pay each Transferred Employee any and all salary and
other employment related payments due to such Transferred Employee (a) through the Effective Employment Date in accordance with the Seller’s existing policies, including any payments with respect to accrued vacation time, bonuses agreed to
be paid by the Seller or otherwise promised by the Seller for the financial year 2007, severance or prior notice of termination, and (b) any payments required to be made to any such Employee as a result of the transactions contemplated hereby.
The Seller shall fully indemnify and keep indemnified the Buyer against any claim for wrongful dismissal or redundancy or otherwise that may be made against the Buyer by any person who was at any time an employee of the Seller in connection with the
Business including any claims arising out of their terms of employment or under the applicable laws and against any other claims arising from the termination of their employment, and the Seller shall also indemnify and keep indemnified the Buyer
against any such claims brought by any Employee who accepts employment with the Buyer to the extent that such claims relate or are referable to a period or periods of employment before the Effective Employment Date. Notwithstanding the foregoing,
the Buyer shall indemnify the Seller against any claim made by a customer or supplier of the Buyer based on work performed by a seconded Employee at the direction of the Buyer during the Secondment Period. 

  

 - 23 - 

	9.	ASSIGNMENT OF CONTRACTS AND RIGHTS 

  

	9.1	This Agreement shall not constitute an agreement to assign any Purchased Asset or any claim, right or any benefit arising thereunder or resulting therefrom if an attempted
assignment thereof, without consent of a third party thereto, would constitute a breach or other contravention thereof or in any way adversely affect the rights of the Buyer thereunder. 

  

	9.2	If any licenses, consents or agreements from third parties are required for the transfer, assignment or novation to or in favour of the Buyer of any Contracts under this Agreement,
the Seller shall use its reasonable efforts (but without any payment of money by the Buyer) to obtain such license, consents or agreement from the other parties on or before the Closing Date or claim any right or any benefit arising thereunder for
the assignment thereof to the Buyer as the Buyer may request. 

  

	9.3	Without prejudice to Clauses 2.2 and 4, if such license, consent or agreement is not obtained, or if an attempted assignment thereof would be ineffective or would adversely
affect the rights of the Seller thereunder so that Buyer would not in fact receive or otherwise be entitled to the full benefit of all such rights, the Seller shall, to the extent not prohibited under applicable agreements, enter into such
arrangement with the Buyer at the Buyer’s reasonable direction under which the Buyer will obtain the benefits and assume the obligations thereunder in accordance with this Agreement, including subcontracting, sub-licensing, or subleasing to the
Buyer, or under which the Seller would enforce for the benefit of the Buyer, with the Buyer assuming Seller’s obligations, any and all rights of the Seller against a third party thereto. The Seller shall promptly pay to the Buyer when received
all monies received by the Seller under any Purchased Asset or any claim, right or any benefit arising thereunder. The foregoing provisions do not affect Buyer’s rights and remedies against the Seller in respect of a Contract which they have
warranted is assignable, or may be performed by Buyer instead of the Seller without any novation or transfer agreement. 

  

	9.4	Subject to Clauses 9.1 to 9.4, with effect from the Closing Date, the Buyer shall observe and perform all obligations and commitments of the Seller under the Contracts and
the liabilities incurred from such obligations and commitments provided that nothing in this Agreement: 

  

	9.4.1	shall require the Buyer to perform any obligation falling due for performance or which should have been performed before the Closing Date; or 

  

	9.4.2	shall make the Buyer liable for any act, neglect, default or omission in respect of any Contracts or for any claim, expense, loss or damage arising from any failure to obtain the
consent or agreement of any third party to the entry into of this Agreement or from any breach of any of the Contracts caused by this Agreement or its Closing; or 

  

	9.4.3	shall impose any obligation on the Buyer for or in respect of any goods supplied by the Seller or any service performed by the Seller. 

  

	9.5	The Seller shall indemnify the Buyer against all actions, proceedings, costs, damages, claims and demands in respect of: 

  

	9.5.1	any act or omission on the part of the Seller in relation to the Contracts; 

  

 - 24 - 

	9.5.2	any alleged fault, defect or error of any kind arising from goods supplied or services provided by the Seller. 

  

	10.	WARRANTIES BY SELLER AND CDC 

  

	10.1	The Seller hereby warrants and represents to the Buyer that the matter set forth in Clauses 10.1.1 to 10.1.59 (“Warranties”) are true, accurate and complete
(a) as of the date of this Agreement and (b) as of the Closing Date. 

 GENERAL WARRANTIES 
 The Accounts 
  

	10.1.1	General 

 the Accounts and Management Accounts: 

 

	 	(a)	have been prepared in accordance with US GAAP; 

  

	 	(b)	are accurate and show a true and fair view of the affairs of the Seller and the Business as at the specified accounting date and of its results for the accounting reference period
ended on that date; 

  

	 	(c)	comply with the requirements of all applicable statutes, laws, rules and regulations; 

  

	 	(d)	are prepared on consistent bases and policies of accounting; and 

  

	 	(e)	are not affected by any unusual or non-recurring items except as may be referenced in the notes associated therewith. 

  

	10.1.2	Provision for liabilities, capital commitments and bad debts 

 the Accounts and Management Accounts make adequate provisions or reserves for, or disclose, all liabilities (including contingent, deferred and disputed liabilities) and whether liquidated or unliquidated and all
capital commitments of the Seller and the Business as at the specified accounting date, indicate clearly which of those liabilities are not usually provided for or reserved, and make adequate provision or reserve for all bad and doubtful debts. All
accounts and notes receivables of the Seller are, individually and in the aggregate, collectible in full, net of reserves therefore. All accounts and notes receivable of the Seller represent sales actually made in the ordinary course of business or
valid claims as to which full performance has been rendered by the Seller. To the Seller’s knowledge, no counter claims, defences or offsetting claims with respect to the accounts or notes receivable of the Seller are pending or threatened.
Save as Disclosed, all of the accounts and notes receivable of the Seller relate solely to sales of goods or services to customers of the Seller, none of whom are Affiliates of the Seller or any of its Affiliates. 
  

	10.1.3	[Intentionally left blank] 

  

 - 25 - 

	10.1.4	Valuation and depreciation as in previous accounts 

 the method of valuing work in progress adopted in the Accounts and Management Accounts and the basis of depreciation adopted in respect of fixed assets are the same as the corresponding accounts for the preceding years (if any). 

 

	10.1.5	Rate of depreciation 

 save as Disclosed, the rate
of depreciation adopted in the Accounts and Management Accounts is sufficient for the value of each of the fixed assets of the Business to be written down to nil by the end of its useful working life. 
  

	10.1.6	Profits 

 save as Disclosed, the profits shown in
the Accounts and Management Accounts have not to a material extent been affected (except as disclosed in those accounts) by any extraordinary or exceptional event or circumstance or by any other factor rendering them unusually high or low except as
may be referenced therein. 
  

	10.1.7	Position since Accounts Date 

 save as Disclosed,
since the Accounts Date: 
  

	 	(a)	the Business has been carried on in the ordinary course and so as to maintain it as a going concern; 

  

	 	(b)	there has been no Material Adverse Change in the financial or trading position or prospects of the Seller and the Business; 

  

	 	(c)	there has been no reduction amounting to a Material Adverse Change in the value of the net tangible assets of the Seller and the Business on the basis of the valuations adopted in
the Accounts; 

  

	 	(d)	the Seller has not entered into any transaction which has given rise or shall give rise to a liability to Taxation on the Seller (or would have done so or would or might do so but
for the availability of any relief, allowance, deduction or credit) other than profits tax on actual income (and not chargeable gains or deemed income) of the Seller arising from transactions entered into in the ordinary course of business;

  

	 	(e)	the Business has not been affected by the loss of any important customer or source of supply or by any abnormal factor not affecting similar businesses to a similar extent and the
Seller are not aware of any facts likely to give rise to any such effect whether before or after Closing; 

  

	 	(f)	the Seller has not acquired or disposed of or agreed to acquire or dispose of any business or any asset; 

  

	 	(g)	no debtor has been released by the Seller on terms that he pays less than the book value of any debt (subject to settlement discounts on the usual terms which have been Disclosed to
the Buyer) and no debt has been written off or has proved to be irrecoverable to any extent; 

  

 - 26 - 

	 	(h)	the Seller has not paid any service, management or similar charges or any interest or amount in the nature of interest to any other person or incurred any liability to make such a
payment other than in the ordinary course of business; 

  

	 	(i)	the Seller does not have any known, material liabilities (whether accrued, absolute, contingent, unliquidated or otherwise, whether due or to become due, regardless of when
asserted) arising out of transactions or events entered into prior to the date of this Agreement, or any action or inaction, or any state of facts existing, with respect to or based upon transactions or events occurring prior to the date of this
Agreement, except (i) liabilities reflected in the Accounts or Management Accounts, or (ii) liabilities that have arisen after the Accounts or Management Accounts Date in the ordinary course of business (none of which relates to breach of
contract, breach of warranty, tort, infringement, legal violation or environmental liability). 

  

	 	(j)	Schedule 9 sets forth a true, accurate and complete list of the name and address of each bank with which the Seller has an account or safe deposit box and the name of each person
authorized to draw thereon or have access thereto. 

 Assets 
  

	10.1.8	Title to Assets 

 the assets included in the
Accounts and Management Accounts or acquired by the Seller since the Accounts Date and all Purchased Assets are the absolute property of the Seller free from any mortgage, charge, lien, bill of sale or other Encumbrance and are not the subject of
any leasing, hiring or hire-purchase agreement or agreement for payment on deferred terms or assignment or factoring or other similar agreement or any interests of the third parties, and all such assets are in the possession or under the control of
the Seller. 
  

	10.1.9	Condition of plant machinery and equipment 

 the
machinery, office equipment, computer systems and vehicles used by the Seller for the Business are in good repair, regularly maintained and fully serviceable and comply in all material respects with any applicable legal requirement or restriction,
and the vehicles are duly licensed and suitable for the purposes for which they are used. 
  

	10.1.10	Control of records and information 

 all records and
information belonging to the Seller (whether or not held in written form) relating to the Business and the Purchased Assets are in its exclusive possession, under its direct control and subject to unrestricted access by it. 
  

	10.1.11	Acquisition at arm’s length 

 the Seller has
not acquired any Purchased Asset on terms which were not by way of bargain at arm’s-length. 
  

	10.1.12	[intentionally left blank] 

  

 - 27 - 

	10.1.13	Nature of debts 

 the Seller is not owed any money
other than trade debts incurred in the ordinary course of business and cash at bank under the Business. 
  

					
	10.1.14	 	(a)	 	Realisation of book debts

 the book debts shown in the Accounts and Management Accounts have realised, or shall realise
within twelve months from the date of this Agreement, their full nominal amount less any reserve for bad or doubtful debts included in the Accounts and Management Accounts; and the book debts of the Seller which have arisen since the Accounts Date
shall realise within the same period. 
  

	 	(b)	Sufficiency of Assets  

 the Purchased Assets
constitute assets, properties and rights used exclusively in the Business as heretofore conducted. 
 Borrowings, Grants and Loans to Directors

  

	10.1.15	Borrowings 

  

	 	(a)	save as Disclosed the Seller does not have outstanding any obligation for the payment or repayment of money, whether present or future, actual or contingent, relating to the
Business in respect of: 

  

	 	(i)	monies borrowed or raised (whether from banks or otherwise and including, without limitation, any revolving lines of credit or term loans); 

  

	 	(ii)	any recourse to a company selling or discounting receivables in respect of receivables sold or discounted; 

  

	 	(iii)	moneys raised under any bond, note, stock, or other security; 

  

	 	(iv)	moneys raised under or in respect of acceptance credit and documentary credit facilities; 

  

	 	(v)	the acquisition cost of assets or services to the extent payable after the time of acquisition or possession; 

  

	 	(vi)	rental payments under capital leases, chattel leases and hire purchase agreements; or 

  

	 	(vii)	any guarantee, indemnity or other assurance against or arrangement intended to prevent or limit loss in respect of any obligation for the payment or repayment of money described in
paragraphs (i) to (vii) above whether by the Seller, its Affiliates, shareholders, managers, officers, employees, agents, representatives or any other third party (any such obligation being referred to under this Agreement as a
“Borrowing”); 

  

 - 28 - 

	 	(b)	save as Disclosed the Seller does not have subsisting over the whole or any part of its present or future revenues or assets under the Business any Encumbrance, mortgage, charge,
pledge, lien or other security interest or any other agreement or arrangement having a similar effect. 

  

	 	(c)	save as Disclosed no Borrowing of the Seller relating to its Business has become or is now due and payable, or capable of being declared due and payable, before its normal or
originally stated maturity and no demand or other notice requiring the payment or repayment of money before its normal or originally stated maturity has been received by the Seller. 

  

	 	(d)	no event or circumstance has occurred, or may occur with the giving of notice or lapse of time determination of materiality or satisfaction of any other condition, such as to
entitle any person to require the payment or repayment of any Borrowing relating to the Seller’s Business before its normal or originally stated maturity or which is or shall be such as to terminate, cancel or render incapable of exercise any
entitlement to draw money or otherwise exercise the rights of the Seller under an agreement relating to Borrowing relating to the Seller’s Business. 

  

	10.1.16	Grants and subsidies 

 the Seller has not done or
agreed to do anything in respect of its Business as a result of which: 
  

	 	(a)	any investment grant or other grant or any subsidy received by the Seller is or may be liable to be refunded wholly or partly; or 

  

	 	(b)	any application made by the Seller for such a grant or subsidy shall or may be refused wholly or partly 

 and neither the signature nor the performance of the Agreement shall have any such result. 
  

	10.1.17	Connected transactions 

 there is not outstanding
any agreement or arrangement between the Seller and any company of which it is a subsidiary or another subsidiary of any such company relating to the Business (including, but not limited to, any such agreement or arrangement under which the Seller
is, or may in the future become, liable to pay any service, management or similar charge or to make any payment of interest or in the nature of interest). 
 Environment 
  

	10.1.18	the Seller has complied in all material respects with Environmental Law in respect of the Business and: 

  

	 	(a)	there are no circumstances in relation to the Seller or the Business which would reasonably be expected to give rise to or to the Seller’s knowledge have given rise to any
civil, criminal, administrative or other action, claim, suit, complaint, proceeding, investigation, decontamination, remediation or expenditure by any person or competent authority under Environmental Law in relation to any properties now owned or
formerly owned by the Seller or used in the Business; 

  

 - 29 - 

	 	(b)	the Seller has obtained and there are in full force and effect and the Seller has at all times complied in all material respects with all environmental Permits necessary for the
Business, there are no circumstances which could reasonably be expected to lead to the revocation, cancellation, suspension, modification, variation or alteration of such environmental Permits and there are no circumstances which necessitate any
works, remediation or expenditure (other than routine maintenance) in order to continue to comply with the environmental Permits; 

  

	 	(c)	at no time has the Seller received any notice alleging a breach of the terms of an environmental Permit or any other breach of Environmental Law; 

  

	 	(d)	all assessments reviews reports returns information and audits required by Environmental Law or any environmental Permit have been properly carried out and submitted to the
appropriate authorities and their recommendations and requirements implemented where required by Environmental Law; 

  

	 	(e)	to the Seller’s knowledge, there are no further environmental Permits to be obtained in connection with the current business of the Seller which require works, remediation or
additional expenditure to ensure compliance with such environmental Permits. 

 Intellectual Property Rights 
  

	10.1.19	Intellectual Property 

  

	 	(a)	the Intellectual Property as listed on Schedule 6 comprises all of the intellectual property rights necessary for the operation of the Business as conducted by the Seller prior to
the date hereof and the Closing Date; 

  

	 	(b)	Schedule 6 sets forth a complete and correct list of all: 

  

	 	(i)	patented or registered Intellectual Property and pending patent applications or other applications for registrations of Intellectual Property owned or filed by the Seller;

  

	 	(ii)	all trade names and unregistered trademarks, service marks and domain names owned or used by the Seller; 

  

	 	(iii)	all copyrights and copyrightable works owned or used by the Seller; and 

  

 - 30 - 

	 	(iv)	all licenses or similar agreements for the Intellectual Property to which the Seller is a party, either as licensee or licensor; 

  

	 	(c)	save as Disclosed the Seller owns and possesses all right, title and interest in and to, or has a valid and enforceable license to use, the Intellectual Property necessary for the
operation of its Business as conducted by it prior to the date hereof and the Closing Date, free and clear of all liens, licenses, security interests, encumbrances and other restrictions; 

  

	 	(d)	to the Seller’s knowledge no claim by any third party contesting the validity, enforceability, use or ownership of any of the Intellectual Property has been made, is currently
outstanding or, is threatened and to the Seller’s knowledge, there are no grounds for the same; 

  

	 	(e)	to the Seller’s knowledge, no loss or expiration of any part of the Intellectual Property is pending or reasonably foreseeable; 

  

	 	(f)	the Seller has not received any notices of, and is not aware of any facts which indicate a likelihood of, any infringement or misappropriation by, or conflict with, any third party
with respect to the Intellectual Property (including, without limitation, any demand or request that the Seller license any rights from a third party); 

  

	 	(g)	the Seller has not infringed, misappropriated or otherwise conflicted with any intellectual property rights or other rights of any third parties and the Seller is not aware of any
infringement, misappropriation or conflict which will occur as a result of the continued operation of its business as conducted by the Seller prior to the date hereof and the Closing Date; and 

  

	 	(h)	the transactions contemplated by this Agreement will have no effect on the Seller’s right, title and interest in and to the Intellectual Property. The Seller has taken all
necessary action, in its reasonable business judgment, to maintain and protect the Intellectual Property so as to not affect the validity or enforceability of the Intellectual Property. 

  

	10.1.20	Web site 

 save as Disclosed, with respect to the
Seller’s Web site used for the Business, the Seller has taken all commercially reasonable steps in connection with the creation and operation of the Web site, including, without limitation, the following: 
  

	 	(a)	the Seller (i) has obtained the following Universal Resource Locators (“URLs”): theglobe.ionglobal.com; (ii) has maintained adequate computer resources
and system redundancies to ensure that no service outages will occur due to insufficient data-storage, memory, server or other related reasons at operations levels consistent with the Business as currently conducted; and (iii) has in place,
prior to activation of the Web site, a plan to permit and accommodate anticipated increases in traffic levels (e.g., additional servers, hardware, software and/or personnel); and 

  

 - 31 - 

	 	(b)	to the Seller’s knowledge, the Seller has complied in all material respects with all current privacy standards regarding data collection of site visitors and customers,
including without limitation, obtaining certification from eTrust and BBBOnline as applicable (if global—then must also be in compliance with the European Privacy Directive and register accordingly, as well as other countries’ privacy
policies). 

 Commercial Arrangements and Conduct 
  

	10.1.21	Material contracts 

 save as Disclosed, in relation
to the Business and the Purchased Assets, there is not outstanding: 
  

	 	(a)	any contract of guarantee, indemnity or suretyship or any contract to secure any obligation of any person; 

  

	 	(b)	any agreement or arrangement between the Seller and a major distributor, supplier or customer of the Seller which involves total revenue or total expenditure in excess of US$25,000;

  

	 	(c)	any joint venture, consortium or partnership agreement or arrangement to which the Seller is a party; 

  

	 	(d)	any sale or purchase option or similar agreement or arrangement affecting any assets owned or used by the Seller or by which it is bound; 

  

	 	(e)	any liability, obligation or commitment of any kind (other than those listed in (a) to (d) above) on the part of the Seller (including a capital commitment) which:

  

	 	(i)	is incapable of complete performance within three months from the date of Agreement; or 

  

	 	(ii)	has not been incurred in the ordinary course of business; or 

  

	 	(iii)	is, or is likely to be, of major significance to the Company; or 

  

	 	(iv)	exceeds, or is likely to exceed, in aggregate a sum of US$25,000. 

  

	10.1.22	Effect of Agreement on other agreements 

 save as
Disclosed there is no agreement or arrangement in relation to the Business and the Purchased Assets involving a total revenue or total expenditure in excess of US$25,000 between the Seller and any other person which shall or may be terminated as a
result of this Agreement or Closing or which shall be affected by it or which includes any provision with respect to a change in the control, management or shareholders of the Seller. 
  

	10.1.23	Commercial position 

 save as Disclosed, so far as
the Seller is aware: 
  

	 	(a)	there is no substantial customer or supplier of the Seller in relation to the Business who has ceased purchasing or ordering from or supplying to it or who to the Seller’s
knowledge is likely after the date of this Agreement or Closing to reduce substantially or terminate purchases or orders from or supplies to it; 

  

 - 32 - 

	 	(b)	there are no special circumstances which might lead to the supply by the Seller or to it of any goods or services, in relation to the Business being restricted or hindered.

  

	10.1.24	Restrictive agreements and anti-competitive behaviour 

  

	 	(a)	the Seller does not violate and has not violated any law or regulation applicable in any jurisdiction relating to anti-competitive agreements or practices or behaviour or any
similar matter; 

  

	 	(b)	the Seller is not in relation to the Business, bound by or party to any order or decision made or undertakings (binding or not) given to or any court or tribunal of competent
jurisdiction or any similar authority in any jurisdiction, under or in any law, regulation or administrative process relating to unfair competition, anti-trust, monopolies, mergers or other similar matters; 

  

	 	(c)	except as contemplated by this Agreement and the related agreements, the Seller has not in relation to the Business, within the last two years been party to any merger, acquisition,
reorganization or other similar arrangement which was capable of review by any anti-trust or similar authorities in any jurisdiction. 

  

	10.1.25	Notice of official action 

 the Seller is not aware
of any process, notice or communication, formal or informal, by or on behalf of any authority of any country having jurisdiction in anti-trust matters, in relation to any aspect of the Business or the conduct of the Seller or any agreement or
arrangement to which the Seller is or was, or is alleged to be or have been, a party, and so far as the Seller are aware it is not likely to receive any such process, notice or communication. 
 Litigation, Defaults and Insurance 
  

	10.1.26	Legal proceedings 

 save as Disclosed the Seller is
not engaged or proposing to engage in any litigation, arbitration, prosecution or other legal proceedings, and there are no claims or actions (whether criminal or civil) in progress, outstanding, pending or threatened against the Seller, any of its
assets or to the Seller’s knowledge, against any of its directors or officers or in respect of which the Seller is liable to indemnify any party concerned. 
  

	10.1.27	Unlawful acts by the Seller 

 to the Seller’s
knowledge, neither the Seller nor any of its directors or any of its Affiliate’s, officers or employees has by any act or default committed: 
  

	 	(a)	any criminal or unlawful act in connection with the business of the Seller, other than minor road traffic offences; 

  

 - 33 - 

	 	(b)	any breach of trust, fraud or other willful misconduct in relation to the business or affairs of the Seller or misappropriation or infringement of any Intellectual Property; or

  

	 	(c)	any breach of contract or statutory duty or any tortious act which could entitle any third party to terminate any contract to which the Seller is a party or could lead to a claim
against the Seller for damages, compensation or an injunction. 

  

	10.1.28	Defaults by others 

 save as Disclosed no party with
whom the Seller has entered into any contract in relation to the Business or the Purchased Assets is in default under it, and there are no circumstances likely to give rise to such a default. 
  

	10.1.29	Official investigations 

 to the Seller’s
knowledge, no governmental or official investigation or inquiry concerning the Seller is in progress or threatened and, so far as the Seller is aware, there are no circumstances which are likely to give rise to any such investigation or inquiry.

  

	10.1.30	Adequacy of cover 

 the Seller has, and at all times
has had, valid insurance coverage in respect of the Business and Purchased Assets: 
  

	 	(a)	against all risks (including product liability and loss of profits for a period of at least six months) normally insured against by companies carrying on the same type of business
as the Seller or having similar assets; 

  

	 	(b)	for the full replacement value of its assets and for such amount in respect of its business as would in the circumstances be prudent for such a business; and

  

	 	(c)	from a well-established and reputable insurer. 

  

	10.1.31	Policies 

 all policies of insurance taken out in
connection with the Business or Purchased Assets of the Seller have been Disclosed to the Buyer, are written in the name of the Seller and are in full force and effect; and the Seller has not done or omitted to do or allowed anyone to do or not to
do anything which might render any of those policies void or voidable and has complied with all conditions attached to them. 
  

	10.1.32	Claims 

 no claim under any policy of insurance
taken out in connection with the Business or Purchased Assets of the Seller is outstanding and, so far as the Seller is aware, there are no circumstances likely to give rise to such a claim. 
  

 - 34 - 

 Corporate Organisation and Business 
  

	10.1.33	Corporate Status 

  

	 	(a)	the Seller (including any of its representative office or branch) has been duly incorporated and validly existing under the laws of the jurisdiction of its incorporation, and is
duly authorized, qualified or licensed to do business as a foreign corporation in each of the jurisdictions that it is now carrying on business; 

  

	 	(b)	there has been no resolution, petition or order nor has any step been taken for the winding-up of the Seller and no receiver has been appointed in respect thereof or any part of the
assets thereof and no such resolutions, orders and appointments are imminent or likely nor are there any grounds upon which such resolutions, orders and appointments could be based; 

  

	 	(c)	so far as the Seller is aware, no events or omissions which is not capable of remedy have occurred whereby the constitution subsistence or corporate status of the Seller has been or
is likely to be adversely affected; and 

  

	 	(d)	neither the execution of this Agreement or the other documents hereunder, nor the performance by the Seller or CDC of their respective obligations hereunder or thereunder will
(a) violate or conflict with the Articles of Incorporation or the bylaws of the Seller or any applicable law, (b) violate, conflict with or result in a breach or termination of, or otherwise give any person or entity additional rights or
compensation under, or the right to terminate or accelerate, or constitute (with notice or lapse of time, or both) a default under the terms of any note, deed, lease, instrument, security agreement, mortgage, commitment, contract, agreement, license
or other instrument or oral understanding to which the Seller or any of its Affiliates is a party or by which any of the assets or the properties of the Seller are bound or (c) result in the creation or imposition of any Encumbrance with
respect to, or otherwise have an adverse effect upon, any of the assets or properties of the Seller. 

  

	10.1.34	Articles of Incorporation 

 the copies of the
articles of incorporation, bylaws and other constitutional documents of the Seller delivered to the Buyer are true and complete copies, and the Seller has complied with all the provisions of its articles of incorporation, bylaws and constitutional
documents and, in particular, has not entered into any ultra vires transaction. 
  

	10.1.35	Minute books and registers 

 the minute books and
registers of the Seller and all current books of account are written up to date and all such documents and other necessary records, deeds, agreements and documents relating to its affairs are in its possession or under its control. 
  

 - 35 - 

	10.1.36	Compliance with applicable law and regulation 

 the
Seller and its officers have complied in all material respects with the provisions of all applicable law and regulation in its place of incorporation, and the places where it carries on its business. 
  

	10.1.37	Title to Business and Purchased Assets 

  

	 	(a)	the Seller has valid title to, and is the exclusive legal and beneficial owner of the Business and the Purchased Assets, and, therefore, has an absolute right to sell and transfer
the Business and the Purchased Assets. All the Purchased Assets will be sold and transferred to the Buyer free and clear of any Encumbrance together with all accrued beneficial rights attached to them at the date of this Agreement or subsequently
becoming attached to them; 

  

	 	(b)	save as Disclosed, no consent, approval, authorization, permit or licence from any third party, government agency or regulatory body is necessary for the sale and transfer of the
Business and the Purchased Assets by the Seller to the Buyer hereunder. 

  

	10.1.38	Powers of attorney 

 other than in the ordinary
course of business, there are no powers of attorney given by the Seller except any given incidental to and for the purposes only of enforcement of any security. 
  

	10.1.39	Licences permissions or consents 

 all material
licences, permissions and consents required for the carrying on of the Business of the Seller have been obtained by it and are in full force and effect and the Seller is not aware of any circumstances indicating that any of those licences,
permissions or consents is likely to be revoked or not renewed in the ordinary course. 
  

	10.1.40	Other aspects of carrying on business 

 the Seller:

  

	 	(a)	does not use on its stationery or vehicles or otherwise carry on Business under any name other than its corporate name and the name “Ion Global”; and

  

	 	(b)	has complied in all material respects with all requisite corporate powers, its articles of incorporation, bylaws and legal requirements applicable to its business, whether in the US
(including any state, municipality or any other jurisdiction thereof) or in any other country or jurisdiction. 

  

	10.1.41	Existence of Subsidiaries and other business 

 the
Seller` does not have, and has never had, any Subsidiary. Save for the Business and the Dae Business, the Seller has not carried on any other business. 
  

	10.1.42	[intentionally left blank] 

  

 - 36 - 

 Employees 
  

	10.1.43	Disclosure of Material Facts 

  

	 	(a)	the name and title of all existing employees of the Seller for the operation of the Business are set out in Part 1 of Schedule 1 and all the information set out thereunder are true
and accurate; 

  

	 	(b)	all facts and matters relating to the employment of all Employees of the Seller (including but not limited to their respective salaries, ages, length of service, notice periods,
terms and conditions of employment, employment or benefits policies, share incentive schemes, share option schemes or profit-share schemes and entitlements under these schemes, all rights, and any other agreement or arrangement relating to the
employment of the employees of the Seller) have been provided to the Buyer; 

  

	 	(c)	all facts and matters relating to all collective agreements, arrangements or other understandings with any trade union, staff association or other body representing the employees of
the Seller have been Disclosed to the Buyer; 

  

	 	(d)	the amounts of the bonuses for the financial year 2007 for Employees will be substantially similar to the amounts of the bonuses for the financial year 2006 granted to Employees.

  

	10.1.44	Compliance with Requirements 

 the Seller has in
relation to each of its Employees: 
  

	 	(a)	complied in all material respects with all law, regulations and codes of practice or employment rules relevant to its relations with the Employee and with any recognised trade union
representing him and all collective agreements from time to time in force relating to such relations or the conditions of service of the Employee and has maintained adequate and suitable records regarding the service of the Employee;

  

	 	(b)	discharged fully its obligations to pay or deduct, as applicable, all salaries, wages, withholdings, commissions, bonuses, overtime pay, holiday pay, sick pay, accrued entitlement
under incentive schemes and insurance contributions and other benefits of or connected with employment; 

  

	 	(c)	without prejudice to paragraph 10.1.44(a) above, complied in all material respects with all its obligations under statute and otherwise concerning the health and safety at work of
each of the Employees and has not incurred any liability to any Employee in respect of any accident or injury which is not fully covered by insurance. 

  

	10.1.45	Agreements 

 save as Disclosed, the Seller has not
entered into: 
  

	 	(a)	any agreement or arrangement to make any payments (other than emoluments) to or on behalf of any of its directors or Employees; 

  

 - 37 - 

	 	(b)	any contract of service with any Employee which is not terminable by the Seller by one month’s notice or less without payment of compensation (except as provided by statute);

  

	 	(c)	any agreement or arrangement for the provision of services in return for remuneration; 

  

	 	(d)	any agreement imposing an obligation on the Seller to increase the rates of remuneration of, or to make any bonus or incentive payments or any benefits in kind or any payments under
a profit-sharing scheme to or on behalf of, any of its Employees at any future date; 

  

	 	(e)	any negotiation for a change in the emoluments or other terms of engagement of any grade of any of the Seller’s Employees; 

  

	 	(f)	any agreement or arrangement for the provision of compensation on the termination of employment of any Employee of the Seller beyond the minimum required by law.

  

	10.1.46	Disputes 

  

	 	(a)	no material dispute has arisen since the date of incorporation of the Seller between the Seller and its Employees or former employees and there are no present circumstances which
are likely to give rise to any such dispute; 

  

	 	(b)	to the Seller’s knowledge there are no complaints pending or threatened against the Seller of whatsoever nature in relation to any of its Employees or former employees and
there is no industrial action or dispute threatened or existing or anticipated in respect of or concerning any of the Seller’s Employees or former employees; 

  

	 	(c)	no Employee or former employee has any right to ownership of any Intellectual Property in any invention or improvement made or discovered by him in the course of employment with the
Seller or otherwise any compensation or payment in respect of or right to use any such invention or improvement; 

  

	 	(d)	to the Seller’s knowledge there are no enquiries or investigations existing, pending or threatened affecting the Seller by any regulatory body or authority concerning any
Employee; 

  

	 	(e)	no Employee has given notice of termination of his contract of employment or is under notice of dismissal; 

  

	 	(f)	the Seller has not offered any contract of employment to any person under the Business, which offer remains outstanding; and 

  

	 	(g)	there is no person employed or previously employed by the Seller under the Business who is on maternity leave, absent on grounds of disability or other leave of absence and have a
statutory or contractual right to return to work for the Seller. 

  

 - 38 - 

 Miscellaneous 
  

	10.1.47	Insolvency 

  

	 	(a)	no order has been made and no resolution has been passed for the winding up of, or a provisional liquidator to be appointed in respect of, the Seller and no petition has been
presented and no meeting has been convened for the purpose of winding up the Seller; 

  

	 	(b)	no receiver has been appointed in respect of the Seller, the Business or the Purchased Assets; 

  

	 	(c)	the Seller is not insolvent or unable to pay its debts within the meaning of the applicable legislation to which it is subject and the Seller has not stopped paying its debts as
they fall due; 

  

	 	(d)	no event analogous to any of the foregoing has occurred in any jurisdiction outside of California; and 

  

	 	(e)	no unsatisfied judgment is outstanding against the Seller. 

  

	10.1.48	Consents 

 save as Disclosed, all consents,
permissions, approvals and agreements of third parties which are necessary for the Seller to obtain in order to enter into and perform this Agreement in accordance with its terms have been unconditionally obtained in writing and have been Disclosed
to the Buyer. 
  

	10.1.49	Material information 

 all material information
relating to the Seller, the Business and the Purchased Assets which is known or would on reasonable enquiry be known to the Seller and which should be known by a reasonable Buyer for value of the Purchased Assets has been Disclosed or provided to
the Buyer. 
  

	10.1.50	Brokers and Finders  

 No person or entity acting on
behalf or under the authority of the Seller is or will be entitled to any broker’s, finder’s or similar fee or commission in connection with the transactions contemplated hereby. 
  

	10.1.51	Recitals and disclosures 

 the recitals, Exhibits
and Schedules to the Agreement and all information and documents relating to the Business and Purchased Assets supplied by the Seller or any agent of any of them to the Buyer, its solicitors, accountants or other agents or advisers during or with a
view to the negotiations leading up to the Agreement, are true and accurate in all respects, and there is no fact not Disclosed which would render any such information or document inaccurate or misleading or which, if Disclosed, might reasonably
affect the willingness of the Buyer to purchase the Purchased Assets for the consideration or otherwise on the terms specified in the Agreement. All budgets and forecasts provided to the Buyer have been prepared using 

  

 - 39 - 

 
reasonable and customary assumptions. Neither the Seller nor CDC has withheld from the Buyer any material facts relating to the assets, properties,
liabilities, business operations, financial condition, results of operations or prospects of the Seller, the Business or the Purchased Assets. Neither this Agreement (including the Exhibits, Schedules, certificates and other documents delivered
hereto) nor any other agreement, document, certificate or written statement furnished to the Buyer by or on behalf of the Seller in connection with this Agreement, the other documents or the transactions contemplated hereunder or thereunder contains
any untrue statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not misleading. 
 Authority of the Seller and CDC 
  

	10.1.52	Each of the Seller and CDC has full power and authority to enter into and perform this Agreement and the provisions of this Agreement, when executed, will constitute valid and
binding obligations on the Seller and CDC, in accordance with its terms; 

  

	10.1.53	the execution and delivery of, and the performance by each of the Seller and CDC of its obligations under, this Agreement will not result in a breach of any order, judgment or
decree of any court or governmental agency to which the Seller or CDC is a party or by which it is bound; 

  

	10.1.54	neither the Seller nor any of its respective agents or advisers is aware of any fact or matter which would or may constitute a breach of any of the Warranties and which failure to
disclose by such agents or advisers is deemed fraudulent. 

 TAX WARRANTIES 
 Accounts 
  

	10.1.55	the Seller has no liability in respect of Taxation (whether actual or contingent) or any liability for interest, penalties or charges imposed in relation to any Taxation arising in
any part of the world that is not adequately Disclosed or provided for in full in the Accounts and Management Accounts. 

  

	10.1.56	the amount of the provision for deferred Taxation contained in the Accounts and Management Accounts was, at the date the Accounts and Management Accounts were prepared in accordance
with US GAAP. 

 Events since the Accounts Date 
 Since the Accounts Date: 
  

	10.1.57	the Seller has not been involved in any transaction outside the ordinary course of business which has given or may give rise to a liability to Taxation on the Seller or in relation
to the Business (or would have given or might give rise to such a liability but for the availability of any relief, allowance, deduction or credit). 

  

	10.1.58	no disposal has taken place or other event occurred which will or may have the effect of crystallising a liability to Taxation which should have been included in the provision for
deferred Taxation contained in the Accounts and Management Accounts if such a disposal or other event had been planned or predicted at the date on which the Accounts and Management Accounts were drawn up. 

  

 - 40 - 

 Payments by the Seller 
  

	10.1.59	the Seller have paid all Taxation in relation to or in connection with the Company for which it is liable to account to the Tax Authority on the due date for payment thereof and is
under no liability to pay any penalty or interest in connection therewith and without prejudice to the generality of the foregoing the Seller has made all deductions and withholdings in respect or on account of Taxation which it is required by any
relevant legislation to make from any payments made by it in relation to or in connection with the Seller and has accounted in full to the appropriate Tax Authorities for all amounts so deducted or withheld. 

  

	10.2	The Seller acknowledges that, in entering into this Agreement and in purchasing the Purchased Assets, the Buyer has relied and will rely upon the Warranties given herein and the
Warranties as confirmed by the Seller according to Clause 6.2.1(g). 

  

	10.3	The Warranties are given subject to the matters Disclosed in the Disclosure Letter but no other information relating to the Business, the Purchased Assets and the Seller of which
the Buyer has knowledge (actual or constructive) and no investigation by or on behalf of the Buyer shall prejudice any claim made by the Buyer in respect of the Warranties or operate to reduce any amount recoverable and it shall not be a defence to
any claim against the Seller that the Buyer knew or ought to have known or had constructive knowledge of any information (other than as Disclosed in the Disclosure Letter) relating to the circumstances giving rise to such claim.

  

	10.4	The Seller and CDC shall not (in the event of any claim being made against them in connection with the sale of the Purchased Assets to the Buyer) make any claim against its officer,
director, employee or Affiliate on whom the Seller and CDC may have relied before agreeing to any term of this Agreement. 

  

	10.5	Each of the Warranties shall be construed as a separate warranty and shall not be otherwise limited or restricted by reference to or inference from the terms of any other Warranty
or any other term of this Agreement. 

  

	10.6	The Seller shall procure that the Warranties are true, accurate and complete at the date of this Agreement and, for this purpose the Warranties shall be deemed to be repeated at the
Closing Date and any express or implied reference therein to the date of this Agreement shall be replaced by a reference to the Closing Date. Subject to Clause 11.1.7, the Warranties shall remain in full force and effect notwithstanding
Closing. 

  

	10.7	Except as may be provided herein, the rights and remedies of the Buyer in respect of a breach of any of the Warranties shall not be affected by Closing, by any investigation made by
or on behalf of the Buyer into the affairs of the Seller and the Business, by the giving of any time or other indulgence by the Buyer to any person, by the Buyer rescinding or not rescinding this Agreement, or by any other cause whatsoever except a
specific waiver or release by the Buyer in writing; and any such waiver or release shall not prejudice or affect any remaining rights or remedies of the Buyer. 

  

 - 41 - 

	10.8	All representations and warranties made by any party contained in this Agreement, any Exhibit, Schedule, certificate or other instrument specifically referred to in the Warranties
pursuant hereto or made in writing by or on behalf of a party in connection with the transactions contemplated by this Agreement, and all indemnification obligations under this Agreement shall survive the execution and delivery of this Agreement and
the Closing of the transactions contemplated hereunder until the expiration of the applicable statute of limitations or, if Clause 11.1.7 (subject to Clause 11.1.8) is applicable, until the expiry of the period of eighteen (18) months after the
date of this Agreement. 

  

	10.9	The Seller undertakes with the Buyer that it will before and after Closing promptly notify the Buyer in writing of any event or circumstance of which they become aware which is or
may be inconsistent with any of the Warranties or which might make any of the Warranties untrue or misleading if given at Closing. 

  

	11.	INDEMNIFICATION – GENERAL AND TAX 

  

	11.1	General Indemnification 

  

	11.1.1	As used in this Clause 11.1, the following terms shall have the following meanings: 

  

	 	(a)	“Claim” means any claim, demand, dispute, action, suit, investigation or legal or analogous proceedings. 

  

	 	(b)	“General Event of Indemnification” with respect to: 

  

	 	(i)	the Seller shall mean: 

  

	 	(aa)	any breach of any representation or Warranty, or any breach or failure of observance or performance of any agreement, undertaking, commitment, obligation, indemnity or covenant of
the Seller contained in this Agreement (including the Exhibits and Schedules) or in any certificate or other writing delivered in connection herewith at, before or after Closing or any facts or circumstances constituting such untruth, inaccuracy or
breach; 

  

	 	(bb)	any Claims, liabilities or obligations of any kind or nature relating to the Business or the Purchased Assets arising from, relating to or in connection with the Business,
operations or affairs of the Seller or any of the assets, properties, interests in assets or properties or rights of the Seller which were existing at or as of Closing or arising in whole or in part out of any acts, transactions, conditions,
circumstances or facts which occurred or existed on or prior to Closing, and which were not Disclosed on or before the execution of this Agreement; and 

  

	 	(cc)	any Claims, liabilities or obligations of any kind or nature arising from, relating to or in connection with the Excluded Assets or the Excluded Liabilities whether existing at or
as of Closing or at any time thereafter; 

  

 - 42 - 

	 	(ii)	the Buyer shall mean any breach of any representation, Buyer Warranty, or any breach or failure of observance or performance of any agreement, undertaking, commitment, obligation,
indemnity or covenant of the Buyer contained in this Agreement or in any certificate or other writing delivered in connection herewith at, before or after Closing or any facts or circumstances constituting such untruth, inaccuracy or breach.

  

	 	(c)	“Special Event of Indemnification” with respect to: 

  

	 	(i)	the Seller shall mean any Claims, liabilities or obligations of any kind or nature arising from, relating to or in connection with any of the events set out in Schedule 13 whether
existing at or as of Closing or at any time thereafter, and whether Disclosed or not on or before the execution of this Agreement; and 

  

	 	(ii)	the Buyer, shall mean any Claims, liabilities or obligations arising from the Buyer’s failure to pay the applicable Taxes to the appropriate tax authority in accordance with
Clause 3.3 after deducting or withholding such payment from the Purchase Price. 

  

	 	(d)	“Losses” in this Clause 11 shall mean any and all Losses (as defined in Clause 1.1) sustained, suffered or incurred by the Buyer Indemnified Person or Seller
Indemnified Person. 

  

	11.1.2	“Buyer Indemnified Persons” shall mean and include the Buyer and its respective officers, directors, employees, Affiliates, parents, subsidiaries, successors and
assigns; and “Seller Indemnified Persons” shall mean and include the Seller and its respective officers, directors, employees, Affiliates, parents, subsidiaries, successors and assigns. 

  

	11.1.3	The Seller shall indemnify, defend and hold harmless the Buyer Indemnified Persons, and each of them, from and against any and all Losses and Claims (including Claims by third
party) arising from or in connection with any General Event of Indemnification or Special Event of Indemnification except to the extent such Losses or Claims are due to fraud, gross negligence or wilful misconduct of any Buyer Indemnified Persons.

  

	11.1.4	The Buyer shall indemnify, defend and hold harmless the Seller Indemnified Persons, and each of them, from and against any and all Losses and Claims (including Claims by third
party) arising from or in connection with any General Event of Indemnification or Special Event of Indemnification, except to the extent any such Losses or Claims are due to fraud, gross negligence or wilful misconduct of any Seller Indemnified
Person. 

  

	11.1.5	This indemnity is to be a continuing security to the Buyer and Seller for all representations, Warranties, agreements, undertakings, commitments, obligations, indemnities or
covenants on the part of the Seller or the Buyer (as the case may be) under or pursuant to this Agreement notwithstanding settlement of account or other matter or thing whatsoever. 

  

 - 43 - 

	11.1.6	This indemnity is in addition and without prejudice to and not in substitution for any rights or security which the Buyer and the Seller may now or hereafter have or hold for
performance and observance of any agreement, undertaking, commitment, obligation, indemnity or covenant on the part of the Seller or the Buyer (as the case may be) under or in connection with this Agreement. 

  

	11.1.7	Limitation of Liability in respect of the Warranties or the Buyer Warranties  

 Notwithstanding anything contained herein to the contrary but subject to Clause 11.1.8, (i) neither the Buyer nor the Seller may make a claim for indemnification pursuant to Clause 11 or Clause 14.1 in respect of
a breach of any of the Warranties or the Buyer Warranties (as the case may be) for Losses the amount of which is less than US$35,000 (“Minor Losses”) even if such Minor Losses in the aggregate exceed the Basket (as defined below);
(ii) neither the Buyer nor the Seller may make a claim for indemnification pursuant to Clause 11 or Clause 14.1 in respect of a breach of any of the Warranties or the Buyer Warranties (as the case may be) unless and until Losses in an aggregate
amount (excluding the Minor Losses) exceed US$75,000 (the “Basket”) in which case the Buyer or the Seller may make such claim(s) for indemnification for any and all Losses (excluding the Minor Losses) and not merely for the excess
of the Basket; (iii) in no event shall the aggregate liability of (a) the Buyer or the Seller pursuant to this Clause 11.1 or (b) CDC pursuant to Clause 14.1 in respect of a breach of any of the Warranties or the Buyer Warranties (as
the case may be) exceed one hundred percent (100%) of the Purchase Price; and (iv) the period during which claims for any breach of a Warranty and/or indemnification pursuant to this Agreement in respect of a breach of any of the
Warranties or the Buyer Warranties (as the case may be) may be made shall commence from the date of this Agreement to the expiry of the period of eighteen (18) months after the date of this Agreement. 
  

	11.1.8	None of the limitations regarding any Loss or Claim in respect of a breach of any of the Warranties or the Buyer Warranties (as the case may be) whether as to the amount or time set
forth in Clause 11.1.7 shall apply if in any case the Losses and Claims have arisen from or in connection with: 

  

	 	(a)	any Special Event of Indemnification; 

  

	 	(b)	any breach of the Tax Warranties set out in Clauses 10.1.55 to 10.1.59; or 

  

	 	(c)	any breach of the Warranties set out in Clauses 10.1.14(b), 10.1.19, 10.1.33(a), 10.1.36, 10.1.37, 10.1.52 to 10.1.54. 

 For avoidance of doubt, no claim for any Loss or Claim arising from or in connection with items (a), (b) or (c) of this Clause 11.1.8 above
shall be brought after the expiry of the applicable statute of limitation. 
  

	11.2	Covenant in Respect of Tax 

  

	11.2.1	In this Clause unless the context otherwise requires: 

  

	 	(a)	 “Tax Event” includes (without limitation) any omission, event, action or transaction whether or not the Seller is a party thereto, the death of any
person, 

  

 - 44 - 

	 	 
a change in the residence of any person for any Tax purpose, a failure to make sufficient dividend payments to avoid an apportionment or deemed distribution
of income and the entering into and Closing of this Agreement and references to the result of events on or before Closing shall include the combined result of two or more events one or more of which shall have taken place on or before Closing;

  

	 	(b)	“relief” includes (without limitation) any relief, allowance, credit, set off, deduction or exemption for any Tax purpose; and 

  

	 	(c)	reference to income or profits or gains earned, accrued or received shall include income or profits or gains deemed to have been or treated as or regarded as earned, accrued or
received for the purposes of any legislation. 

  

	11.2.2	Subject as hereinafter provided, the Seller hereby covenants with and undertakes to indemnify the Buyer (at its election, for itself, its Affiliates and as trustee for its
successors in title) against: 

  

	 	(a)	any Tax liability of the Seller or in relation to the Business or Purchased Assets resulting from or by reference to any income, profits or gains earned accrued or received on or
before the Closing Date or any Tax Event on or before such date whether alone or in conjunction with other circumstances and whether or not such Tax is chargeable against or attributable to any other person; 

  

	 	(b)	any Tax liability of the Seller or in relation to the Business or Purchased Assets that arises after Closing as a result of an act, omission or transaction by a person other than
the Seller and which liability to Tax falls upon the Seller or in relation to the Business or Purchased Assets as a result of its having been in the same group for Tax purposes as that person at any time before Closing; 

  

	 	(c)	any Tax liability of the Seller or in relation to the Business or Purchased Assets that would not have been payable had there been no breach of any Tax Warranties and which is not
the subject of the covenants in sub-clauses (a) and (b) above; and 

  

	 	(d)	all costs and expenses which are incurred by the Buyer or any of its Affiliates or the Seller in connection with any of the matters referred to in this Clause 11.2 or in taking or
defending any action under the covenants contained in this Clause 11.2 (including, without prejudice to the generality of the foregoing, all legal and other professional fees and disbursements). 

  

	11.2.3	The Purchase Price shall be allocated among the Purchased Assets in accordance with their values as determined by the Buyer; provided that no portion of the Purchase Price beyond
the minimum portion required by the Buyer’s accountants shall be allocated to the non-solicitation provisions under Clause 13.1 hereof. Each of the parties hereto shall (i) report the purchase and sale of the Purchased Assets in accordance
with the allocations determined by the Buyer for all Tax purposes (including the filing of IRS Form 8594), (ii) not take a Tax position which is inconsistent with such allocation, and (iii) cooperate with each other in preparing IRS Form
8594 or any other statements, Tax returns or reports required by the IRS or any other Tax Authority. 

  

 - 45 - 

	12.	BUYER’S RIGHTS 

  

	12.1	Without prejudice to any other right or remedy of the Buyer hereunder, if before Closing: 

  

	 	(a)	the Buyer becomes aware that any of the Warranties was at the date of this Agreement, or has since become, untrue or misleading or that the Seller or CDC is in breach of any term of
this Agreement; or 

  

	 	(b)	any Tax Event occurs which has, or is likely to have, any effect on the financial position or business prospects of the Business or Purchased Assets as a whole, not being a Tax
Event which affects generally all companies carrying on business similar to that of the Seller in a part or parts of the world where the Business is conducted, 

 the Buyer shall be entitled to terminate this Agreement without incurring liability to the Seller or CDC. 
  

	12.2	Without prejudice to any other right or remedy of the Seller hereunder, if before Closing the Seller becomes aware that any of the Buyer Warranties was at the date of this
Agreement, or has since become, untrue or misleading or that the Buyer is in breach of any term of this Agreement, the Seller shall be entitled to terminate this Agreement without incurring liability to the Buyer. 

  

	12.3	The rights, including rights of rescission, conferred on the Buyer and Seller by this Agreement are in addition and without prejudice to all other rights and remedies available to
the Buyer and the Seller; and no exercise or failure to exercise a right under this Agreement or otherwise or to invoke a remedy shall constitute a waiver of that right or remedy by the Buyer or the Seller. 

  

	13.	PROTECTION OF THE BUYER’S INTERESTS 

  

	13.1	Competing Business and Restricted Services, etc. 

  

	13.1.1	In this clause: 

  

	 	(a)	“competing business” means any business which competes with the Business. 

  

	 	(b)	“restricted services” means services of the same type as or similar to or performs the same or similar functions of any services provided by the Seller under the
Business at Closing. 

  

	 	(c)	“Restricted Period” means the period of 3 years commencing from the Closing Date. 

  

	 	(d)	references to acting directly or indirectly include (without prejudice to the generality of that expression) references to acting alone or jointly with or by means of any other
person. 

  

 - 46 - 

	13.1.2	Each of the Seller and CDC covenants with the Buyer that during the Restricted Period: 

  

	 	(a)	it shall not directly or indirectly: 

  

	 	(i)	solicit, canvass or approach or endeavour to solicit, canvass or approach any person, firm or company for the purpose of offering to that person, firm or company restricted services
or provide on behalf of a competing business any restricted services to any person, firm or company: 

  

	 	(aa)	who was provided with services under the Business by the Seller or the Buyer at any time during the previous two (2) year period immediately preceding Closing; or

  

	 	(bb)	who was negotiating with the Seller or the Buyer for the provision of services under the Business at any time during the previous twelve (12) month period immediately preceding
Closing. 

  

	 	(ii)	solicit or entice away or endeavour to solicit or entice away from the Buyer any person employed by the Buyer in any capacity with a view to inducing that person to leave such
employment and to act for another person in the same or a similar capacity in relation to a competing business or restricted services whether or not such person would commit a breach of contract by reason of leaving such employment except that the
foregoing restriction does not apply to any general solicitation for employees or public advertising of employment opportunities not specifically directed at any person employed by the Buyer; 

  

	 	(b)	it shall not at any time disclose or use, for his own benefit or that of any other person any confidential information which it possesses concerning the Business or of any person
having dealings with the Business. 

  

	13.1.3	Each of the restrictions set out in Clause 13.1.2 above are separate and severable and in the event of any such restriction being determined as unenforceable in whole or in part for
any reason, such unenforceability shall not affect the enforceability of the remaining restrictions or (in the case of restrictions unenforceable in part) the remainder of that restriction. 

  

	13.1.4	 The parties agree that in connection with the circumstances and transactions contemplated by this Agreement, the restrictive covenants herein contained are
reasonable in time and scope, necessary for the protection of the Business and the legitimate interests of the Buyer, and supported by adequate consideration and further agree that having regard to those circumstances the said covenants do not work
harshly or unreasonably upon the parties. However, it is recognized that restrictions of the nature in question may fail for technical reasons currently unforeseen and accordingly it is hereby agreed and declared that if any of such restrictions
shall be adjudged to be void as going beyond what is reasonable in all the circumstances for the protection of the Business or the Buyer’s legitimate interests but would be valid if 

  

 - 47 - 

	 	 
part of the wording thereof were deleted or the periods thereof reduced or the range of activities or area dealt with thereby reduced in time or scope the
said restriction shall apply with such modifications as may be necessary to make it valid and effective under applicable law. 

  

	13.2	Trademarks, Tradenames, etc. 

  

	13.2.1	Each of the Seller and CDC hereby covenants with the Buyer that save as required for the performance of their obligations as contemplated in this Agreement, immediately after
Closing and except as otherwise directed by the Buyer, the Seller and CDC shall cease and shall procure that each of their respective Affiliates and other persons authorized by them or such Affiliates shall cease the use of all or any of the
trademarks, service marks, logos, trade names, Internet domain names and corporate names forming part of the Purchased Assets or otherwise used in the Business (including without limitation “Ion Global” or any part of parts thereof), in
any of their forms or spellings (or in forms or spellings similar or resemble to the same) (whether registered or unregistered) for any purpose whatsoever. 

  

	13.3	The obligations and liabilities of the Seller and CDC under this Clause 13 are the joint and several obligations and liabilities of the Seller and CDC. 

  

	14.	GUARANTEE AND INDEMNITY BY CDC 

  

	14.1	In consideration of the Buyer entering into this Agreement, CDC hereby unconditionally and irrevocably guarantees to the Buyer the due and punctual performance and observance by the
Seller of all the Seller’s obligations, commitments, undertakings, warranties, indemnities and covenants under or pursuant to this Agreement and subject to the provisions of Clauses 11.1.7 and 11.1.8 agrees to indemnify the Buyer and its
Affiliates against all Losses, damages, costs and expenses (including reasonable legal costs and expenses) which the Buyer or any of its Affiliates may suffer through or arising from any breach by the Seller of such obligations, commitments,
warranties, undertakings, indemnities or covenants. The liability of CDC as aforesaid shall not be released or diminished by any arrangements or alterations of terms (whether of this Agreement or otherwise) or any forbearance, neglect or delay in
seeking performance of the obligations hereby imposed or any granting of time for such performance. 

  

	14.2	If and whenever the Seller defaults for any reason whatsoever in the performance of any obligation or liability undertaken or expressed to be undertaken by the Seller under or
pursuant to this Agreement, CDC shall forthwith upon demand unconditionally perform (or procure performance of) and satisfy (or procure the satisfaction of) the obligation or liability in regard to which such default has been made in the manner
prescribed by this Agreement and so that the same benefits shall be conferred on the Buyer and its Affiliates as they would have received if such obligation or liability had been duly performed and satisfied by the Seller. CDC hereby waives any
right which it may have to require the Buyer to proceed first against or claim payment from the Seller to the intent that as between the Buyer and CDC the latter shall be liable as principal debtor as if CDC had entered into all undertakings,
agreements and other obligations jointly and severally with the Seller. 

  

 - 48 - 

	14.3	This guarantee and indemnity is to be a continuing security to the Buyer for all obligations, commitments, warranties, undertakings, indemnities and covenants on the part of the
Seller under or pursuant to this Agreement notwithstanding any settlement of account or other matter or thing whatsoever. 

  

	14.4	This guarantee and indemnity is in addition to and without prejudice to and not in substitution for any rights or security which the Buyer may now or hereafter have or hold for the
performance and observance of the obligations, commitments, undertakings, covenants, indemnities and warranties of the Seller and CDC under or in connection with this Agreement. 

  

	14.5	CDC shall not, after any claim has been made pursuant to this Clause 14, claim from the Seller any sums which may be owing to them from the Seller or have the benefit of any
set-off, counter-claim or proof against or dividend, composition or payment by the Seller until all sums owing to the Buyer in respect hereof shall have been paid in full. 

  

	14.6	As a separate and independent stipulation, CDC agree that any obligation expressed to be undertaken by the Seller under this Agreement (including, without limitation, any moneys
expressed to be payable under this Agreement) which may not be enforceable against or recoverable from the Seller by reason of any legal limitation, disability or incapacity of any of them or any other fact or circumstance shall nevertheless be
enforceable against or recoverable from CDC as though the same had been incurred by CDC and CDC was sole or principal obligors in respect thereof and shall be performed or paid by CDC on demand. 

  

	15.	WARRANTIES BY BUYER 

  

	15.1	The Buyer hereby warrants and represents to the Seller that the matter set forth below (“Buyer Warranties”) are true and accurate (a) as of the date of this
Agreement and (b) as of the Closing Date: 

  

	15.1.1	Corporate Status 

  

	 	(a)	the Buyer has been duly incorporated and constituted, and is legally subsisting under the laws of its place of incorporation; 

  

	 	(b)	there has been no resolution, petition or order nor has any step been taken for the winding-up of the Buyer and no receiver has been appointed in respect thereof or any part of the
assets thereof and no such resolutions, orders and appointments are imminent or likely nor are there any grounds upon which such resolutions, orders and appointments could be based; and 

  

	 	(c)	so far as the Buyer is aware after making all due enquires, no events or omissions which is not capable of remedy have occurred whereby the constitution subsistence or corporate
status of the Buyer has been or is likely to be adversely affected. 

  

 - 49 - 

	15.1.2	Insolvency 

  

	 	(a)	no order has been made and no resolution has been passed for the winding up of, or a provisional liquidator to be appointed in respect of, the Buyer and no petition has been
presented and no meeting has been convened for the purpose of winding up the Buyer; 

  

	 	(b)	no receiver has been appointed in respect of the Buyer; 

  

	 	(c)	the Buyer is not insolvent or unable to pay its debts within the meaning of the applicable legislation to which it is subject and the Buyer has not stopped paying its debts as they
fall due; 

  

	 	(d)	no event analogous to any of the foregoing has occurred in any jurisdiction outside Hong Kong; 

  

	 	(e)	no unsatisfied judgment is outstanding against the Buyer. 

  

	15.1.3	Authority of the Buyer 

  

	 	(a)	the Buyer has full power and authority to enter into and perform this Agreement and the provisions of this Agreement, when executed, will constitute valid and binding obligations on
the Buyer, in accordance with its terms; 

  

	 	(b)	the execution and delivery of, and the performance by the Buyer of its obligations under, this Agreement will not result in a breach of any order, judgment or decree of any court or
governmental agency to which the Seller or CDC is a party or by which it is bound. 

  

	15.1.4	The Buyer acknowledges that, in entering into this Agreement and in selling the Purchased Assets, the Seller has relied and will rely upon the Buyer Warranties given herein and the
Buyer Warranties as confirmed by the Buyer according to Clause 6.4 upon Closing. 

  

	15.1.5	The Buyer Warranties are given subject to the matters Disclosed in the Buyer Disclosure Letter. 

  

	15.1.6	Each of the Buyer Warranties shall be construed as a separate warranty and shall not be otherwise limited or restricted by reference to or inference from the terms of any other
Buyer Warranty. 

  

	15.1.7	The Buyer represents that the Buyer Warranties are true, accurate and complete at the date of this Agreement and, for this purpose, such Buyer Warranties shall be deemed to be
repeated at the Closing Date. 

  

	16.	MISCELLANEOUS 

  

	16.1	Where in this Agreement, any liability is undertaken by two or more persons, the liability of each of them shall be joint and several. 

  

	16.2	 No party may assign or transfer, or purport to assign or transfer, any of its rights or obligations under this Agreement without prior written consent of the other
parties (except for an assignment or transfer by the Buyer to any of its Affiliates) and this 

  

 - 50 - 

	 	 
Agreement shall be binding on and enure for the benefit of the parties’ successors, permitted assigns and personal representatives. In the event that an
Affiliate of the Buyer to whom the Buyer’s rights or obligations under this Agreement have been assigned, ceases to be an Affiliate of the Buyer, the Buyer shall promptly procure such entity to assign or transfer such rights or obligations back
to the Buyer (as the case may be). 

  

	16.3	This Agreement may be amended, supplemented or modified only by a written instrument duly executed by or on behalf of each party hereto. 

  

	16.4	This Agreement represents the entire understanding, and constitutes the whole agreement, in relation to its subject matter and supersedes any previous agreement between the parties
with respect thereto and, without prejudice to the generality of the foregoing, excludes any warranty, condition or other undertaking implied at law or by custom. 

  

	16.5	Each party confirms that, except as provided in this Agreement, no party has relied on any representation or warranty or undertaking which is not contained in this Agreement,
without prejudice to any liability for fraudulent misrepresentation, no party shall be under any liability or shall have any remedy in respect of misrepresentation or untrue statement unless and to the extent that a claim lies under this Agreement.

  

	16.6	Subject to the terms hereof, so far as it remains to be performed, this Agreement shall continue in full force and effect notwithstanding Closing. 

  

	16.7	The Seller shall after Closing execute all such deeds and documents and do all such things as the Buyer may require for perfecting the transactions intended to be effected under or
pursuant to this Agreement and for vesting in the Buyer the full benefit of the Purchased Assets. Furthermore, the parties hereto hereby agree to be bound by the provisions set forth in this Agreement even in the event that any provision set forth
herein were determined to be unenforceable or ineffective vis-à-vis third parties. 

  

	16.8	In the case that any provision or part of a provision of this Agreement is declared invalid, not binding or not enforceable, then, such declaration shall be effective only in
connection with such provision or part of a provision and therefore shall not impair the validity, binding effects and enforceability of the other parts of such provision and/or the other provisions of this Agreement. 

  

	16.9	The transfer of any Purchased Assets pursuant to this Agreement shall be together with all rights and benefits attached thereto as at the date of transfer and shall be free from all
liens, charges and Encumbrance. 

  

	16.10	This Agreement may be executed in any number of counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.
Facsimile or electronic signatures shall be treated as original signatures. 

  

	17.	CONFIDENTIALITY OF INFORMATION RECEIVED 

  

	17.1	 The parties undertake with each other that they shall treat as strictly confidential all proprietary, non-public information received or obtained by them or their
employees, 

  

 - 51 - 

	 	 
agents or advisers as a result of entering into or performing this Agreement including information relating to the provisions of this Agreement, the
negotiations leading up to this Agreement, the subject matter of this Agreement or the business or affairs of the Seller, the Buyer or any member of Aegis Group and that it will not at any time hereafter make use of or disclose or divulge to any
person any such information without consent of the other parties and shall use its best endeavours to prevent the publication or disclosure of any such information. 

  

	17.2	The restrictions contained in Clause 17.1 shall not apply so as to prevent the parties from making any disclosure required by law or by any securities exchange or supervisory or
regulatory or governmental body pursuant to rules to which the parties are subject or from making any disclosure to any professional adviser for the purposes of obtaining advice (providing always that the provisions of this Clause 17 shall apply to
and the parties shall procure that they apply to and are observed in relation to, the use or disclosure by such professional adviser of the information provided to them) or from making any disclosure for the purpose of exercising their rights or
performing their obligations hereunder, nor shall the restriction apply in respect of any information which comes into the public domain otherwise than by a breach of this Clause 17 by any party. 

  

	17.3	For a period of six (6) months after Closing, the Seller shall procure an announcement to be posted on the website www.dae.com in relation to the sale of the Business to the
Buyer the content of which shall be mutually agreed between the Buyer and Seller and shall procure a link to website www.molecular.com to be posted on the website www.dae.com. 

  

	18.	COSTS 

  

	18.1	The parties shall pay their own costs in connection with the preparation, negotiation, execution and completion of this Agreement. Notwithstanding the foregoing, the Buyer agrees to
pay 50% of the costs for preparation of the legal opinion by Cayman counsel required to be delivered by the Seller pursuant to Clause 6.2.1(j). 

  

	18.2	Any stamp or transfer duty or similar tax of and incidental to this Agreement and the transfer of the Purchased Assets hereunder shall be borne by the Seller absolutely. The Buyer
shall be entitled to deduct or withhold from the Purchase Price on account of such tax according to Clause 3.3. 

  

	19.	NOTICES 

  

	19.1	A notice, approval, consent or other communication in connection with this Agreement: 

  

	19.1.1	must be in writing; and 

  

	19.1.2	must be left at the address of the addressee, or sent by prepaid registered post (airmail if posted to or from a place outside the US) to the address of the addressee or sent by
facsimile to the facsimile number of the addressee which is specified in this clause or if the addressee notifies another address or facsimile number in the US then to that address or facsimile number. 

  

 - 52 - 

 The address and facsimile number of each party is: 
  

					
	 The Seller
	  		  	
	Address	  	:	  	 88 Kearny St., 9th Floor
 San Francisco, CA
94108

	Facsimile	  	:	  	1-415-398-2940
	Attn	  		  	Managing Director
			
	 CDC
	  		  	
	Address	  	:	  	 2 Concourse Parkway, Ste 800
 Atlanta GA
30328

	Facsimile	  	:	  	1-678-259-8737
	Attn	  		  	General Counsel
			
	 The Buyer
	  		  	
	Address	  	:	  	 343 Arsenal Street
 Watertown, MA
02472

	Facsimile	  	:	  	617-218-6500
	Attn	  	:	  	Chief Financial Officer
	
	 With a copy to

	Address	  	:	  	 Three Park Avenue, 32nd Floor
 New York, NY 10016 USA

	Facsimile	  	:	  	1 310 907 1345
	Attn	  	:	  	Head of Legal Affairs, Aegis Media

  

	19.2	A notice, approval, consent or other communication shall take effect from the time it is received (or, if earlier, the time it is deemed to be received in accordance with Clause
19.3) unless a later time is specified in it. 

  

	19.3	A letter or facsimile is deemed to be received: 

  

	19.3.1	in the case of a posted letter, unless actually received earlier, on the third (seventh, if posted to or from a place outside the US) day after posting; and

  

	19.3.2	in the case of facsimile, on production of a transmission report from the machine from which the facsimile was sent which indicates that the facsimile was sent in its entirety to
the facsimile number of the recipient. 

  

	20.	GOVERNING LAW AND ARBITRATION 

  

	20.1	This Agreement shall be governed by, and construed in accordance with, Delaware law without reference to any conflicts of law principles thereto. 

  

	20.2	Arbitration 

  

	20.2.1	 Save for the matters provided under Clause 6.6, any and all disputes arising out of or in connection with the negotiation, execution, interpretation, performance or
non-performance of this Agreement shall be solely and finally settled by binding arbitration conducted pursuant to the rules of the American Arbitration Association 

  

 - 53 - 

	 	 
(the “AAA Rules”) by one or more arbitrators appointed in accordance with the AAA Rules. The parties agree that the award of the arbitrators
shall be the sole and exclusive remedy between them regarding any claims, counterclaims, issues or accountings presented to the arbitrators, irrespective of the magnitude thereof. 

  

	20.2.2	All arbitration proceedings shall be conducted in the English language pursuant to the AAA Rules. The arbitration shall take place in San Francisco, California or such other place
as the parties may mutually agree in writing. The parties hereto agree to facilitate the arbitration by (i) making available to each other and to the arbitrators all documents, books, records and personnel under their control as the arbitrators
shall determine to be relevant to the dispute; (ii) conducting arbitration hearings to the greatest extent possible on successive, contiguous days; and (iii) observing strictly the time periods established by the AAA Rules or by the
arbitrators for the submission of evidence and briefs. 

  

	20.2.3	Any decision or award of the arbitral tribunal shall be final and binding upon the parties to the arbitration proceeding. The parties hereby waive to the fullest extent permitted by
law any rights to appeal or to review such award by any court or tribunal. The parties agree that the arbitral award may be enforced against the parties to the arbitration proceeding or their assets wherever they may be found and that a judgement on
the arbitration award may be entered in any court having jurisdiction over the parties or their assets. 

  

	20.2.4	Notwithstanding anything herein contained, either party shall be entitled to seek injunctive relief, if possible, from any court of competent jurisdiction to protect its rights
under this Agreement pending the constitution of the arbitral tribunal pursuant to this Clause 20.2. 

  

 - 54 - 

 IN WITNESS WHEREOF the parties hereto have caused this Agreement to be signed on their behalf in the places and on
the date hereinafter written. 
  

					
	The Seller	  		  	
			
	SIGNED by	  	)	  	
	on behalf of	  	)	  	/s/ Robert B. Webster
	ION GLOBAL (CALIFORNIA), INC.	  	)	  	
	in the presence of:        /s/ Christine Wienand	  	)	  	
			
	The Buyer	  		  	
			
	SIGNED by /s/ David Bruce Holtham, CFO	  	)	  	
	on behalf of MOLECULAR, INC.	  	)	  	
	in the presence of:        /s/ Donald S. Bell	  	)	  	
			
	CDC	  		  	
			
	SIGNED by	  	)	  	
	on behalf of	  	)	  	/s/ Simon Wong
	CDC SOFTWARE CORPORATION	  	)	  	
	in the presence of:        /s/ Nicole Lo	  	)	  	

  

 - 55 -Merger Agreement

 Exhibit 4(a).22 
  
  
 MERGER AGREEMENT 
 BY AND AMONG 
 CDC SOFTWARE
CORPORATION 
 AND 
 C I ACQUISITION CORPORATION 
 AND 
 CATALYST INTERNATIONAL, INC. 
 AND 
 THE STOCKHOLDERS OF CATALYST 
 September 4, 2007 
  
  
  

 1 

 MERGER AGREEMENT 
 This MERGER AGREEMENT (this “Agreement”) is made and entered into as of September 4, 2007 by and among CDC Software Corporation (“Buyer”), C I Acquisition
Corporation, a Delaware corporation (“Merger Subsidiary” or “Merger Sub”), Catalyst International, Inc, a Delaware corporation (the “Company”) and the stockholders of the
Company listed on Schedule A attached hereto (collectively the “Stockholders”). 
 RECITALS 
 A. The Board of Directors of the Company has determined that the merger of Merger Subsidiary with and into the Company (the
“Merger”) and this Agreement are fair to, and in the best interests of, the Company and the Stockholders and has declared its advisability to recommend that the Stockholders vote their shares in favor of the Merger;
and 
 B. The Board of Directors of the Buyer and Merger Subsidiary have determined that the Merger and this Agreement are fair to, and in
the best interests of, the Buyer and the Merger Subsidiary; and 
 C. As at the date of the Agreement, the Stockholders are the record
holders and beneficial owners of 100% of the issued and outstanding shares in the capital of the Company as set out in Schedule 3.4(a) of the Company Disclosure Schedule (as defined herein) and have agreed to enter into this Agreement and the
Merger on the terms and conditions contained in this Agreement; and 
 NOW, THEREFORE, in consideration of the foregoing and the mutual
promises, covenants and conditions contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, each intending to be bound hereby, agree as follows: 
 ARTICLE I 
 DEFINITIONS 

 1.1 Certain Defined Terms. As used in this Agreement, the following terms shall have the following meanings: 
 “Affiliate” means an “affiliate” within the meaning of Rule 144 promulgated under the Securities Act of 1933, as
amended, and the rules and regulations promulgated thereunder. 
 “Audited Financial Statements” shall mean the
audited consolidated financial statements of the Company comprising a consolidated balance sheet, profit and loss account, notes and reports thereon and a cashflow statement and the audited financial statements of the Company and each of the
Subsidiaries, in each case for the period ended on December 31, 2006. 
 “Business” means any business conducted
by the Company and/or any of its Subsidiaries as at the date of this Agreement and during the preceding calendar year. 
 “Business Day” shall mean a day other than Saturday, Sunday or any day on which banks located in California are authorized or obligated to close. 
 “Closing” shall have the meaning given to such term in Section 2.2(f). 
 “Closing Balance Sheet” means the unaudited consolidated balance sheet of the Company and its Subsidiaries prepared in accordance
with GAAP as at Closing, including, without limitation, all accruals and prepared as if such Closing Balance Sheet was a year end balance sheet. 
  

 2 

 “Closing Date” shall have the meaning given to such term in Section 2.2(f)
“Closing Net Asset Value” means the Net Asset Value as of the Closing Date. “Code” means the Internal Revenue Code of 1986, as amended. 
 “Option” shall mean each outstanding stock option or similar rights to purchase shares of Company Stock and
“Options” shall have a corresponding meaning. 
 “Company Balance Sheet” shall have the
meaning set forth in Section 3.6. 
 “Company Stock” means the common stock of the Company, par value $.01 per
share. 
 “Contract” means any contract, agreement, arrangement, commitment, undertaking, instrument, permit,
mortgage, license, sublicense, lease, letter of intent, quotation or purchase order (in each case, whether oral or in writing). 
 “Effective Time” shall mean the time at which the Surviving Corporation files the Certificate of Merger with the Secretary of State of Delaware. 
 “Encumbrance” means, with respect to any asset, any mortgage, deed of trust, lien, pledge, charge, security interest, title
retention device, conditional sale or other security arrangement, collateral assignment, claim, charge, adverse claim of title, ownership or right to use, restriction or other encumbrance of any kind in respect of such asset (including any
restriction on (a) the voting of any security or the transfer of any security or other asset, (b) the receipt of any income derived from any asset, (c) the use of any asset, or (d) the possession, exercise or transfer of any
other attribute of ownership of any asset). 
 “Environmental Laws” means any federal, state, local or foreign law
(including, without limitation, common law), treaty, judicial decision, regulation, rule, judgement, order, decree, injunction, permit or governmental restrictions or requirement or any agreement with any governmental authority, whether now or
hereafter in effect, relating to human health and safety, the environment or to pollutants, contaminants, wastes or chemicals or any toxic, radioactive, ignitable, corrosive, reactive or otherwise hazardous substances, wastes or materials.

 “Estimated Closing Net Asset Value” shall mean (negative) $2.4 million. 
 “Estimated Closing Net Asset Adjustment” shall have the meaning given to such term in Section 2.7(a). 
 “Escrow Account” shall mean the “Catalyst – CDC Escrow Account” held in an interest bearing account by the Escrow
Agent for the benefit of the Stockholders and the Buyer jointly with Mellon Bank, N.A. 
 “Escrow Agent” shall mean
Mellon Bank, N. A. 
 “Escrow Agent Fees” shall mean the fees of the Escrow Agent associated or in connection with
the operation of the Escrow Account for the Holdback Period. 
 “Escrow Sum” shall mean the balance of the Escrow
Account from time to time. 
  

 3 

 “GAAP” means United States generally accepted accounting principles. 

“Governmental Entity” means any supranational, national, state, municipal, local or foreign government, any court, tribunal,
arbitrator, administrative agency, commission or other governmental official, authority or instrumentality, in each case whether domestic or foreign, any stock exchange or similar self-regulatory organization or any quasi-governmental or private
body exercising any regulatory, Tax or other governmental or quasi-Governmental Entity. 
 “Holdback Consideration”
shall mean $4,500,000. 
 “Holdback Period” shall mean the period starting on the day following the Closing
Date and ending of the day following twenty-four (24) months thereafter. 
 “Intellectual Property Rights” means
worldwide industrial and intellectual property rights and all rights associated therewith, including all patents and applications therefor and all reissues, divisions, renewals, extensions, provisionals, continuations and continuations-in-part
thereof, all inventions (whether patentable or not), invention disclosures, improvements, trade secrets, proprietary information, know how, technology, technical data, proprietary processes and formulae, algorithms, specifications, customer lists
and supplier lists, all industrial designs and any registrations and applications therefor, all trade names, logos, common law trademarks and service marks, trademark and service mark registrations and applications therefor, Internet domain names,
Internet and World Wide Web URLs or addresses, all copyrights, copyright registrations and applications therefor, and all other rights corresponding thereto, all mask works, mask work registrations and applications therefor, and any equivalent or
similar rights in semiconductor masks, layouts, architectures or topology, all computer software, including all source code, object code, firmware, development tools, files, records and data, all schematics, netlists, test methodologies, test
vectors, emulation and simulation tools and reports, hardware development tools, and all rights in prototypes, breadboards and other devices, all databases and data collections and all rights therein, all moral and economic rights of authors and
inventors, however denominated, and any similar or equivalent rights to any of the foregoing, and all tangible embodiments of the foregoing. 
 “IRS” means the Internal Revenue Service. 
 “Independent Expert” shall have the
meaning set forth in Section 2.7(c). 
 “Knowledge” means, with respect to any fact, circumstance, event or
other matter in question, the actual knowledge of such fact, circumstance, event or other matter of (a) an individual, if used in reference to an individual, or (b) with respect to any Person that is not an individual, the directors and
officers of such Person including, without limitation, with respect to the Company the actual knowledge of the Executives, the Stockholders, or any employee, consultant or representative of the Company. Any such individual or Person shall be deemed
to have actual knowledge of a particular fact, circumstance, event or other matter if such fact, circumstance, event or other matter is reflected in one or more documents (whether written or electronic) in, or that have been in, the possession of
such individual or Person. 
 “Liability” shall mean any direct or indirect liability, indebtedness, obligation,
expense, debt, claim, loss, damage, deficiency, guaranty or endorsement of any nature, of or by any Person, whether absolute or contingent, known or unknown, secured or unsecured, recourse or non-recourse, filed or unfiled, accrued or unaccrued, due
or to become due, or liquidated or unliquidated. 
 “Loss” shall mean any and all damages, fines, fees, penalties,
deficiencies, losses and expenses (including without limitation interest, reasonable court costs, reasonable fees of attorneys, reasonable retainers, reasonable fees of accountants and other experts or other reasonable expenses of litigation,
reasonable witness costs/expenses or other proceedings or of any claim, default or assessment). 
  

 4 

 “Material Adverse Change” or “Material Adverse Effect”
means when used with reference to (i) any Person, shall mean any event, change, violation, circumstance or effect (regardless of whether such event, change, violation, circumstance or effect is inconsistent with any representations or
warranties made in this Agreement) that is or is reasonably likely to be, individually or in the aggregate, materially adverse to the condition (financial or otherwise), properties, assets (including intangible assets), business, operations or
results of operations of such Person and its Subsidiaries, taken as a whole, and (ii) the Business, shall mean a material diminution in the value or condition (financial or otherwise) of such Business; provided, however, that none
of the following, either alone or in combination, shall be deemed to be a ‘Material Adverse Change” or a “Material Adverse Effect”: (a) events, circumstances, changes or effects that generally affect the industries in which
the Company and its Subsidiaries operate (including legal and regulatory changes), (b) general economic or political conditions or events, circumstances, changes or events affecting the securities markets generally, (c) changes arising
from the consummation of the transactions contemplated by, or the announcement of the execution of, this Agreement, (d) any circumstance, change or effect that results from any action taken pursuant to or in accordance with this Agreement or at
request of the Buyer and/or Merger Subsidiary and (e) changes caused by a material worsening of current conditions caused by acts of terrorism or war (whether or not declared) occurring after the date hereof. 
 “Merger” shall have the meaning set forth in the Recitals. 
 “Closing Consideration” shall have the meaning set forth in Section 2.2. 
 “Net Receivables” shall mean gross receivables less an allowance for uncollected receivables as determined in accordance with
GAAP. 
 “NAV Adjustment” shall have the meaning set forth in Section 2.7. 
 “NAV Notice of Objection” shall have the meaning set forth in Section 2.7(b). 
 “Net Asset Value” shall mean the Company’s and its Subsidiaries’ total consolidated current assets less total current
liabilities, as determined in accordance with GAAP excluding any debt, accrued and unpaid interest on debt, loans, bank overdrafts, credit lines, Transaction Incentives, all fees and expenses of any legal advisor, investment banker, broker, finder,
accountant, financial advisor, tax advisor, or similar advisor. 
 “Person” means any natural person, company,
corporation, limited liability company, general partnership, limited partnership, trust, proprietorship, joint venture, business organization or Governmental Entity. 
 “Permitted Encumbrances” means (i) statutory liens for Taxes to the extent that the payment thereof is not due, (ii) encumbrances in the nature of zoning restrictions, easements,
rights or restrictions of record on the use of real property if the same do not impair its use in the Company’s business as currently conducted, (iii) statutory or common law liens to secure landlords, lessors or renters under leases or
rental agreements confined to the premises rented to the extent that no payment or performance under any such lease or rental agreement is in arrears or is otherwise due, (iv) deposits or pledges made in connection with, or to secure payment
of, worker’s compensation, unemployment insurance, pension programs mandated under applicable laws or regulations or other social security, and (v) statutory or common law liens in favor of carriers, warehousemen, mechanics and
materialmen, statutory or common law liens to secure claims for labor, materials or supplies and other similar, non-consensual liens arising in the ordinary course of business, which secure obligations to the extent that payment thereof is not in
arrears or otherwise due. 
  

 5 

 “Review Period” shall have the meaning set forth in Section 2.7(b).

 “Software” means, collectively, all of the software of the Company and/or its Subsidiaries in any form (including
all software programs, objects, modules, routines, algorithms and code, in both source code and object code form) and includes without limitation (a) all past and current versions and releases software products, all work-in-process and
developed but unreleased code, and all versions or releases under development as of the Closing Date, (b) any other software owned by the Company and/or any of its Subsidiaries or to which the Company (and/or its Subsidiaries) otherwise has
rights that is, has been or is intended to be used by the Company (and/or its Subsidiaries) in connection with the Business and/or the design, development, testing, maintenance or utilization of the software described in this paragraph, and
(c) all derivative works of any of the software described in this paragraph. 
 “Stockholders” shall mean the
individuals and entities listed on Schedule A to this Agreement being the registered holders and beneficial owners of 100% of the issued and outstanding shares in the capital of the Company immediately prior to the Effective Time and
“Stockholder” shall have a corresponding meaning. 
 “Stockholders’ Representative”
shall mean ComVest Investment Partners II, LLC. 
 “Subsidiary” of a specified entity means any corporation,
association, business entity, partnership, limited liability company or other Person of which the specified entity, either alone or together with one or more Subsidiaries or by one or more other Subsidiaries (a) directly or indirectly owns or
controls securities or other interests representing more than 50% of the voting power of such Person or (b) is entitled, by contract or otherwise, to elect, appoint or designate directors constituting a majority of the members of such
Person’s board of directors or other governing body. 
 “Surviving Corporation” means the Company as the
surviving corporation in the Merger. 
 “Tax” (and, with correlative meaning, “Taxes” and
“Taxable”) means (a) any income, alternative or add-on minimum tax, gross income, estimated, gross receipts, sales, use, ad valorem, value added, transfer, franchise, capital stock, profits, license, registration,
withholding, payroll, social security (or equivalent), employment, unemployment, disability, excise, severance, stamp, occupation, premium, property (real, tangible or intangible), environmental or windfall profit tax, custom duty or other Tax,
governmental fee or other like assessment or charge of any kind whatsoever, together with any interest or any penalty, addition to Tax or additional amount (whether disputed or not) imposed by any Governmental Entity responsible for the imposition
of any such Tax (domestic or foreign), (b) any Liability for the payment of any amounts of the type described in clause (a) of this sentence as a result of being a member of an affiliated, consolidated, combined, unitary or aggregate group
for any Taxable period, and (c) any Liability for the payment of any amounts of the type described in clause (a) or (b) of this sentence as a result of being a transferee of or successor to any Person or as a result of any express or
implied obligation to assume such Taxes or to indemnify any other Person. 
 “Total Consideration” means,
collectively, the Closing Consideration and the Holdback Consideration. 
 “Transaction Incentives” shall mean all
amounts payable to current or former employees of the Company and/or any Subsidiary by way of bonuses, commissions, and other incentives associated with and payable as a result of transactions contemplated under this Agreement. 
  

 6 

 “True-Up Net Asset Value” shall have the meaning set forth in
Section 2.7(b). 
 “Warrants” shall mean a warrant (if any) or other contractual right to purchase or acquire
shares of Company Stock; provided, however, that the Options shall not be considered Warrants. 
 Other capitalized terms defined elsewhere
in this Agreement and not defined in this Article I shall have the meanings assigned to such terms in this Agreement. 
 ARTICLE II

 THE MERGER 
 2.1 The Merger. Upon and subject to the terms and conditions of this Agreement, Merger Subsidiary shall merge with and into the Company at the Effective Time. From and after the Effective Time, the separate corporate
existence of Merger Sub shall cease and the Company shall continue as the Surviving Corporation. The Merger shall have the effects set forth in the Delaware General Corporation Law (the “DGCL”). 
 2.2 Closing Consideration and Conversion of Shares. 
 (a) The aggregate amount to be paid by Buyer on the Closing Date with respect to the outstanding shares of Company Stock on a fully-diluted basis (to be allocated as set forth in Sections 2.2(b),(c) and (d))
shall equal (such amount, as adjusted pursuant to Section 2.7, Section 2.8, Section 2.9, Section 2.10 and Section 2.11) (the “Closing Consideration”) $29,500,000, minus (i) the unpaid
principal amount of, and accrued interest on, all indebtedness for borrowed money of the Company and/or its Subsidiaries not satisfied on or prior to the Closing by the Company or Buyer on behalf of the Company including, without limitation all
outstanding debts, loans, bank facilities, credit facilities, lines of credit and similar liabilities of the Company and/or its Subsidiaries, minus (ii) the amount of all fees and expenses of the Company and/or its Subsidiaries payable, and due
to be payable, in connection with the transactions contemplated by this Agreement including, without limitation, all fees and expenses associated with or relating to any legal advisor, investment banker, broker, finder, accounting advisor, financial
advisor, tax advisor or similar party, minus (iii) the Estimated Closing Net Asset Adjustment, minus (iv) the Holdback Consideration, minus (v) one half of the Escrow Agents Fees, and minus (vi) any other adjustments
provided for in Section 2.9, Section 2.10 and Section 2.11, minus (vii) amounts payable by Stockholders pursuant to Sections 6.6 and 7.3(i), minus any additional severance and benefit payments to be made to Douglas B. Coder and
James G. Stowers pursuant to their respective agreements with the Company, and minus severance as a sale bonus payments made to Michael Eleftheriou after the Closing . Schedule 2.2(a) hereto sets forth (i) the estimated amount of the
Closing Consideration calculated in accordance with this Section 2.2(a), and (ii) the estimated amount of Closing Consideration payable to each Stockholder (on a fully-diluted basis). To the extent an amount to be deducted under
this section 2.2 is not known at the Closing, the stockholders authorize the Stockholders’ Representative to determine an amount to reserve from the Total Consideration for that deduction, and authorize the Stockholders Representative to
maintain that reserve until such time that amount is known and paid. 
 (b) At the Effective Time, each share of Company Stock
issued and outstanding immediately prior to the Effective Time shall automatically be converted into the right to receive an amount in cash equal to the amount set forth in Schedule 2.2(a) hereto. Upon receipt of each Stockholders bank
account details, the Buyer shall pay to each Stockholder (by wire transfer) in accordance with Sections 2.2(a) and 2.2(d), the pro-rata portion of the Closing Consideration as set forth in Schedule 2.2(a), in cash. 
  

 7 

 (c) At the Effective Time, by virtue of the Merger and without any action on the part of
any party or the holder of any of the following securities (A) each of the Company Stock held in the Company’s treasury immediately prior to the Effective Time shall be cancelled and retired without payment of any consideration thereto
except as may be expressly set forth in this Agreement, (B) all Company Stock shall no longer be outstanding and shall automatically be cancelled and shall cease to exist, and each holder of a certificate representing any such share of Company
Stock shall cease to have any rights with respect thereto, except the right to receive such holder’s share of the Closing Consideration pursuant to this Section 2.2 upon the surrender of such certificate in accordance with this Agreement,
without interest, and (C) each share of common stock, no par value per share, of Merger Subsidiary issued and outstanding immediately prior to the Effective Time shall be converted into and thereafter evidence one share of common stock, $0.01
par value per share, of the Surviving Corporation. 
 (d) At the Effective Time, but prior to the distribution of any Closing
Consideration to the Stockholders, the Buyer shall have received, in addition to all required closing documentation as set forth in Article VII hereto, the surrender of the certificates representing all Company Stock, along with a customary letter
of transmittal, from the Stockholders for cancellation. If payment under this Section 2.2 is to be made to a Person other than the Person in whose name the surrendered certificate formerly evidencing Company Stock is registered in the stock
transfer books of the Company, it shall be a condition of payment that the certificate so surrendered shall be endorsed properly or otherwise be in proper form for transfer and that the Person requesting such payment shall have paid all transfer and
other taxes required by reason of the payment of the Closing Consideration to a Person other than the registered holder of the certificate surrendered. After the Effective Time, the holders of the certificates representing all of the Company Stock
shall cease to have any rights whatsoever with respect to such certificates. 
 (e) All amounts paid to the Stockholders under
this Agreement (including both the Closing Consideration and the Holdback Consideration (if any)) shall be apportioned between the Stockholders in accordance with their pro-rata shareholding in the Company immediately prior to the Effective Time as
set forth in Schedule 2.2(a). 
 (f) The closing of the Merger (the “Closing”) shall take place
as soon as practicable after the satisfaction or waiver of each of the conditions set forth in Article VII or at such other time as the parties hereto agree in writing. The Closing shall take place at the offices of the Buyer, located at Two
Concourse Parkway, Suite 800, Atlanta, GA, or at such other location as the parties hereto agree. The date on which the Closing actually occurs is herein referred to as the “Closing Date.” 
 (g) Subject to Closing, each Stockholder hereby releases and forever discharges any and all known or unknown claims, causes of action,
promises or similar rights of any type (however described and however arising) that existed prior to the Effective Time that it or any of its Affiliates may have against or relating to the Company or any Subsidiaries including without limitation
those existing under (i) the Stockholders Agreement dated September 8, 2004, by and among William G. Nelson, Terrance L. Mealy, the Stockholders’ Representative, and any other signatories to such agreement; (ii) the Subscription
and Stockholders’ Agreement, dated November 30, 2004, by and among James Treleaven, John Gorman, David Jacobson, Nigel Davies, S. Michael Godshall, the Company, and the Stockholders’ Representative, and (iii) the Subscription and
Stockholders’ Agreement, dated August 15, 2004, by and between Peter Kight, CLYS Holdings, LLC, a Nevada limited liability company, CAT Acquisition Corp., a Delaware corporation, and the 

  

 8 

 
Stockholders’ Representative (collectively, the “Stockholders Agreements”) other than such claims or causes of action relating to or
arising out of this Agreement and/or the transactions contemplated hereby. Without limiting the preceding sentence, each Stockholder hereby confirms that he is not, and will not following Closing, in any way be entitled to any payment from the
Company or any Subsidiary except as may be expressly set forth in this Agreement. The Stockholders hereby covenant and agree that effective as at the Effective Time, the Stockholders Agreements shall be terminated and have no further force or
effect. 
 2.3 No Dissenting Shares – Stockholders Consent. 
 (a) The Stockholders, being the holders of 100% of the issued and outstanding Company Stock immediately prior to Effective Time, hereby
consent to the Merger. Accordingly, the Company and each Stockholder hereby covenant and agrees that no Stockholder shall be exercising its appraisal rights under the DGCL and each Stockholder’s Company Stock shall be converted into the
right to receive the respective portion of the Closing Consideration determined pursuant to this Agreement and each of such Stockholder’s Company Stock shall upon Closing be deemed to have been converted into and to have become, as of the
Effective Time, the right to receive, without interest or dividends thereon, the respective portion of the Closing Consideration determined pursuant to this Agreement. 
 2.4 Options and Company Stock Plans. 
 (a) Release. In connection with the
Merger, effective at the Effective Time, each of the Company and each Stockholder hereby covenants and agrees that each holder of an Option shall (in a form reasonably acceptable to the Buyer) release and forever discharge the Company, its
Subsidiaries, the Buyer, the Merger Subsidiary and the Surviving Corporation from any and all known or unknown claims, causes of action, promises or similar rights of any type (however described and however arising) that such holder of an Option may
have against such entities in relation to, or in connection with, any Option. 
 (b) Cancellation. The Company and each
Stockholder covenants and agrees to use their respective best efforts to cause each Option to be cancelled in accordance with its terms and, prior to the Effective Time, the Stockholders and the Board of Directors of the Company shall adopt
appropriate resolutions and take all other actions necessary to terminate all equity-compensation plans maintained by the Company and/or its Subsidiaries including without limitation to Catalyst International, Inc. 2004 Stock Option Plan (the
“Company Stock Plans”) and all individual option agreements outside of the Company Stock Plans as of the Effective Time. Each Option, to the extent unexercised as of the Effective Time, shall thereafter cease to be
exercisable, and shall entitle the holder of such option (“Optionholder”), in cancellation and settlement therefor, to a payment in cash, at the Effective Time, equal to the extent to which the per share Total Consideration
exceeds the per share “strike” or “exercise” price of such Option “share”. Such payment, if any, shall be made by the Company at the Effective Time of the Merger. 
 2.5 Certificate of Incorporation and By-laws. 
 (a) The Certificate of Incorporation (as amended) of the Company (the “Company Certificate”) shall be amended at the Effective Time and, as so amended, such Company Certificate shall be the
Restated Certificate of Incorporation of the Surviving Corporation until thereafter changed or amended as provided therein or by applicable law. 
 (b) The By-laws of the Company as in effect immediately prior to the Effective Time, shall be the By-laws of the Surviving Corporation until thereafter changed or amended as provided therein or by applicable law.

  

 9 

 2.6 Closing of Transfer Books. At the Effective Time, the stock transfer books of the Company
shall be closed and no transfer of Company Stock shall thereafter be made. If, after the Effective Time, certificates formerly representing Company Stock are presented to Buyer or the Surviving Corporation, they shall be cancelled. 
 2.7 NAV Adjustment. The “NAV Adjustment” (if any) shall be determined as follows: 
 (a) Immediately prior to the Effective Time, the Buyer and the Stockholders shall together prepare and agree a good faith estimate of the
Closing Net Asset Value determined in accordance with GAAP (the “Estimated Closing Net Asset Value”) and the Closing Balance Sheet. 
 (b) If the Estimated Closing Net Asset Value is less than (worse than) negative $2,400,000, then such difference shall be deducted from the Closing Consideration to be paid by Buyer at Closing (such amount deducted to
be the “Estimated Closing Net Asset Adjustment”). 
 (c) Within 75 days after the Closing Date, Buyer shall use
reasonable best efforts to prepare, or cause to be prepared, and deliver to the Stockholders’ Representative an unaudited statement which shall set forth Buyer’s calculation of the Closing Net Asset Value (which shall include where
possible, actual numbers rather than accruals) (the “True-up Net Asset Value”). Upon receipt from Buyer, the Stockholders’ Representative shall have 10 days to review the True-Up Net Asset Value (the “Review
Period”). If the Stockholders’ Representative disagrees with the True-Up Net Asset Value, the Stockholders’ Representative may, on or prior to the last day of the Review Period, deliver a notice to Buyer (the “NA V
Notice of Objection”), which sets forth the Stockholders’ Representative’s objection to the True-Up Net Asset Value. Any NAV Notice of Objection shall specify those items or amounts with which the Stockholders’
Representative disagrees, and shall set forth the Stockholders’ Representative’s calculation of the Closing Net Asset Value and the Closing Balance Sheet based on such objections. 
 (d) Unless the Stockholders’ Representative delivers the NAV Notice of Objection to Buyer within the Review Period, the
Stockholders’ Representative and the Stockholders shall be deemed to have accepted the True-Up Closing Net Asset Value, and the True-Up Net Asset Value shall be final, conclusive and binding and the Escrow Agent shall be immediately directed by
the Stockholders and the Buyer to release to the Buyer the difference (if any) between the Estimated Closing Net Asset Value and the True-up Net Asset Value. If the Stockholders’ Representative delivers the NAV Notice of Objection to Buyer
within the Review Period, Buyer and the Stockholders’ Representative shall, during the 30 days following such delivery (or any mutually agreed extension thereof), use their commercially reasonable efforts to reach agreement on the disputed
items and amounts in order to determine the amount of the Closing Net Asset Value and the Closing Balance Sheet. If, at the end of such period (or any mutually agreed extension thereof), Buyer and the Stockholders’ Representative are unable to
resolve their disagreements, they shall jointly retain and refer their disagreements to an independent certified public accounting firm mutually acceptable to Buyer and the Stockholders’ Representative (the “Independent
Expert”). The parties shall instruct the Independent Expert promptly to review this Section 2.7 and to determine solely with respect to the disputed items and amounts so submitted whether and to what extent, if any, the Closing Net
Asset Value and the Closing Balance Sheet set forth in the True-Up Net Asset Value requires adjustment. The Independent Expert shall base its 

  

 10 

 
determination solely on written submissions by Buyer and the Stockholders’ Representative and not on an independent review. Buyer and the
Stockholders’ Representative shall make available to the Independent Expert all relevant books and records and other items reasonably requested by the Independent Expert. As promptly as practicable, but in no event later than 30 days after its
retention, the Independent Expert shall deliver to Buyer and the Stockholders’ Representative a report which sets forth its resolution of the disputed items and amounts and its calculation of the Closing Net Asset Value and the Closing Balance
Sheet. The decision of the Independent Expert shall be final, conclusive and binding on the parties. The costs and expenses of the Independent Expert shall be shared equally by Buyer and the Stockholders, provided, however, that if the
Independent Expert determines a less than or equal to 10% variation in the Buyer’s calculation of the Closing Net Asset Value, the Stockholders’ shall pay the costs and expenses of the Independent Expert in full. 
 (e) Within ten (10) Days after the final determination of the Closing Net Asset Value and the Closing Balance Sheet if (x) the
finally determined Closing Net Asset Value is worse than (y) the Estimated Net Asset Value, (i.e., the finally determined Net Asset Value is a greater negative number (i.e., -$2,400,001, -2,400,002, etc.), the Escrow Agent shall be immediately
directed to release to the Buyer such difference between the Estimated Closing Net Asset Value and the finally determined Closing Net Asset Value on a dollar for dollar basis. If the Closing Net Asset Value is negative (-$2,400,000) or better (e.g.
-$2,399,999) there will be no additional adjustments, no claims against the Holdback Consideration and no action required by the Escrow Agent. 
 2.8 Holdback, Escrow and Release of Escrow. 
 (a) The Buyer and the Stockholders agree to execute the Escrow
Agreement as attached hereto as Exhibit A as required by the Escrow Agent in relation to the establishment and dealings of the Escrow Account. 
 (b) The Holdback Consideration shall be paid by Buyer to the Escrow Account on the Closing Date and shall be held for the purpose and to the extent and satisfaction of any Loss arising during the
Holdback Period in respect of the amount of any claim by the Buyer: (i) for breaches of, or inaccuracies in, the representations and warranties given by the Company and/or the Stockholders herein or the nonfulfillment of, or failure to perform,
any covenant or agreement on the part of the Stockholders and/or the Company contained in this Agreement; and/ or (ii) pursuant to the indemnifications granted under Section 9.; and/or (iii) pursuant to Sections 2.9, 2.10 and/or 2.11
hereof (a “Claim”). 
 (c) At any time during the Holdback Period, the Buyer may forward to the
Stockholders’ Representative a notice of a Claim (“Claim Notice”) which sets forth in reasonable detail the nature and amount of the Claim (“Amount Claimed”). Upon receipt from Buyer, the
Stockholders’ Representative shall have 10 days to review the Claim Notice (the “Claim Review Period”). If the Stockholders’ Representative disagrees with the Amount Claimed, the Stockholders’ Representative
may, on or prior to the last day of the Review Period, deliver a notice to Buyer (the “Claim Notice of Objection”) (with a copy to the Escrow Agent), which sets forth the Stockholders’ Representative’s objection to
the Amount Claimed. Any Claim Notice of Objection shall specify those items and amounts with which the Stockholders’ Representative disagrees and detailed reasons for such disagreement. If the Stockholders’ Representative fails to deliver
a Claim Notice of Objection within the Review Period, the Stockholders’ Representative and the Stockholders shall be deemed to have accepted the Claim and the Amount Claimed shall be final, conclusive and binding and the Escrow Agent shall be
immediately directed by the Buyer and the Stockholders to release to the Buyer the Amount Claimed. If the Stockholders’ Representative 

  

 11 

 
delivers a Claim Notice of Objection to Buyer within the Claim Review Period, and such Claim Notice of Objection shows that only a portion of the Amount
Claimed is disputed, then such undisputed portion of the Amount Claimed shall be deemed to have been accepted by the Stockholders and the Escrow Agent shall be immediately directed by the Buyer and the Stockholders to release to the Buyer the
undisputed portion of the Amount Claimed. Buyer and the Stockholders’ Representative shall, during the 30 days following delivery of a Claim Notice of Objection (or any mutually agreed extension thereof), use their commercially reasonable
efforts to reach agreement on the disputed items and amounts in order to agree upon the disputed Amount Claimed. If, at the end of such period (or any mutually agreed extension thereof) Buyer and the Stockholders’ Representative are unable to
resolve their disagreements, either shall be entitled to refer the matter to the American Arbitration Association of Delaware for determination (“AAA”), in accordance with the commercial arbitration rules of the AAA governing
the arbitration, and if following either agreement between the Buyer and the Stockholders’ Representative or a determination by the AAA, the Buyer and the Stockholders’ Representative shall jointly instruct the Escrow Agent in writing to
release the agreed or determined Amount Claimed to the Buyer. In the event that either the Stockholders or the Buyer fails to give direction to the Escrow Agent in accordance with this Section, for whatever reason, the other may obtain an order from
a court of competent jurisdiction that such instructions are given or treated as given. 
 (d) Each of the Buyer and the
Stockholders shall ensure, during such period of time as the Escrow Agent is holding any Escrow Sum, that all of its respective rights to such Escrow Sum remain free from any Encumbrance (other than that such Escrow Sums are held in escrow), set off
or counterclaim. 
 (e) Interest accruing from time to time on the Escrow Sum shall be added to the money standing to the
credit of the Escrow Account. Any portion of interest shall be owned by and attributed to the party or parties who are ultimately adjudged in accordance with this Section to be the rightful owner of the respective amounts so held in escrow.

 (f) The Buyer, on the one hand, and the Stockholders, on the other hand, shall equally pay the Escrow Agent’s Fees.

 (g) The Escrow Agent may withdraw from the Escrow Account an amount equal to any tax payable in respect of the interest
earned in respect of the Escrow Sum for which it is or may become liable. 
 (h) In the event that the Buyer has not issued,
or has no outstanding Claim Notices or Claimed Amounts at the end of the Holdback Period, the Escrow Agent shall be directed by both the Buyer and the Stockholders Representative to return any remaining Escrow Sum to the Stockholders in accordance
with their pro-rata shareholdings in the Company immediately prior to the Effective Time as set forth in Section 2.2(e). 
 2.9
Transaction Incentives. The Stockholders covenant and agree to pay from the proceeds of the Closing Consideration all amounts (if any) payable to current employees of the Company and/or any of its Subsidiaries (“Transaction
Incentives”) by way of bonuses, commissions, and other incentives associated with the transactions contemplated under this Agreement as set out in Schedule 2.9. Except as set out in Schedule 2.9, the Company and each
Stockholder represents and warrants to Buyer that the Company has no obligations to any of its current employees, officers or directors for any bonus, commission, option payment or similar incentive associated with or relating to the transactions
contemplated under this Agreement. 
 2.10 Receivables. In the event that less than the full amount of the Net Receivables contained
in 

  

 12 

 
the finally determined Company Balance Sheet (“Company Balance Sheet Net Receivables”) are actually received by the Company within
one hundred eighty (180) days following Closing, the difference between the Company Balance Sheet Net Receivables and the portion of the Net Receivables actually received by the Company shall be released to the Buyer on a one-to-one basis from
the Holdback Consideration and the Escrow Agent shall be immediately directed by the Stockholders and the Buyer accordingly. During the 180 day period of time referred to above, Buyer shall allow the Stockholders at their own expense to designate a
collection agent suitable to Buyer, who shall be provided with all books and records related to the Net Receivables, including an account receivables ledgers, and contact lists, and shall be permitted to contact related third party accounts, for
purposes of collecting said receivables so long as such appointed agent complies with Buyers procedures. With respect to any receivables which are not so collected during said 180 day period of time, Buyer shall cause the Company to immediately
transfer (by way of assignment and any other instrument reasonably requested by the Stockholder Representative) all right, title and interest in and to such receivable to the Stockholders. During such 180 day period of time, the Company shall use
all commercially reasonable best efforts to pursue the collection of Company accounts receivable existing as of the Closing Date. 
 2.11
Severances. 
 (a) If the employment of any of the employees of the Business is terminated prior to the expiration of
twelve (12) months following Closing, Buyer shall be entitled to immediately receive from the Holdback Consideration any severance, notice and/or other similar payment required to be paid to such employee which is over and above the minimum
statutory obligations (if any) and the Escrow Agent shall immediately be directed by the Stockholders and the Buyer accordingly. 
 (b) Notwithstanding anything to the contrary contained herein, Buyer shall not be entitled to receive from the Holdback or elsewhere an amount (in the aggregate) in excess of $250,000 pursuant to the provisions set forth in this
Section 2.11. 
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES OF THE COMPANY 
 The Company and each Stockholder jointly and
severally represents and warrants to the Buyer that each statement contained in this Article III is true and correct as of the date hereof, except for the exceptions set forth in the disclosure letter of the Company (the “Company
Disclosure Letter”) (each of which exceptions, in order to be effective, shall clearly indicate the section and, if applicable, the subsection to which it relates; however, any information disclosed under any section number shall be
deemed to be disclosed and incorporated into any other section number where there is an appropriate cross reference or where it would otherwise be reasonably appropriate): 
 3.1 Organization and Good Standing. 
 (a) The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. Except as set forth on Section 3.1 of the Company Disclosure Letter. The Company has the corporate power
and authority to own, operate and lease its properties and to carry on its business as now conducted. The Company is duly qualified to do business, and is in good standing, in each jurisdiction in which it owns or leases property or conducts any
business so as to require such qualification. 
  

 13 

 (b) Each of the Companies’ Subsidiaries are corporations duly organized, validly
existing, and in good standing under laws of their jurisdictions of incorporation and have all corporate powers and all governmental licenses, authorizations, permits, consents and approvals required to carry on their businesses as now conducted and
to own, use and lease their assets and properties. Each of the Companies’ Subsidiaries is duly qualified to do business in each jurisdiction where they carry on business and are in good standing in each jurisdiction where they carry on
business. 
 (c) During the preceding twelve (12) months from the Closing Date, the Company and its Subsidiaries have
only conducted business in the countries listed in Section 3.1 of the Company Disclosure Letter and are duly qualified, licensed or admitted to do business in each of such jurisdiction to the extent that such qualification, license or admission
is required by that jurisdiction’s laws. The Company and its Subsidiaries have full corporate power to own their properties, assets and business and to carry on their business operations. 
 (d) The name of each director and officer of the Company and its Subsidiaries on the Closing Date, and the position with the Company
and/or Subsidiaries held by each, are listed in Schedule 3.1(d) of the Company Disclosure Letter. 
 (e) The
Company and its Subsidiaries have filed and/or registered all company filings where required to be filed and/or registered. 
 3.2 No
Subsidiaries. Except as set forth in Schedule 3.2 of the Company Disclosure Letter, the Company does not have any Subsidiaries or any equity or ownership interest, whether direct or indirect, in any Person. The Company is not
obligated to make, and is not bound by any agreement or obligation to make, any investment in or capital contribution in or on behalf of any other Person, and the Company is not a party to any joint venture. 
 3.3 Authorization; Noncontravention; Enforceability. 
 (a) Authorization. The Company has all requisite corporate power and authority to enter into, execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated
hereby. The execution, delivery and performance by the Company of this Agreement and all other agreements, transactions and actions contemplated hereby have been duly and validly approved and authorized by the Company’s Board of Directors, and
will be on the Closing Date, duly and validly approved and authorized by the Company’s stockholders. 
 (b)
Noncontravention. The execution and delivery by the Company of this Agreement does not, and the consummation of the transactions contemplated hereby will not, (i) result in the creation of any Encumbrance, other than Permitted
Encumbrances, on any of the asset of the Company, or (ii) conflict with, or result in any violation of or default under (with or without notice or lapse of time, or both), or give rise to a right of termination, cancellation or acceleration of
any obligation or loss of any benefit under, or require any consent, approval or waiver from any Person pursuant to, (A) any provision of the Certificate of Incorporation or Bylaws of the Company, in each case as amended to date, or
(B) any material Contract, concession, franchise, judgment, order, decree, statute, law, ordinance, rule or regulation applicable to the Company. Except as listed in Section 3.3 of the Company Disclosure Letter. No consent, approval, order
or authorization of, or registration, declaration or filing with, any Governmental Entity or any other Person is required by or with respect to the Company in connection with the execution and delivery of this Agreement or the consummation of the
transactions contemplated hereby. 
  

 14 

 (c) Enforceability. This Agreement has been duly executed and delivered by the
Company and the Stockholders. This Agreement is a valid and binding obligation of the Company and the Stockholders, enforceable against the Company and the Stockholders in accordance with its terms, subject only to the effect, if any, of
(i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect relating to rights of creditors generally and (ii) rules of law and equity governing specific performance, injunctive relief
and other equitable remedies. 
 (d) No Liens. Except as listed in Schedule 3.3(d) of the Company Disclosure
Letter, the Company Stock and any ownership interest in any Subsidiary is not, and shall not be, encumbered by any lien, encumbrance or other interests of any other third party whatsoever. The Stockholders, collectively, are the registered and
beneficial owners of all of the Company Stock, and the Company is the registered and beneficial owner of all of the ownership interests in the Subsidiaries, free and clear of any lien, encumbrance and any other limitation or restriction (including
without limitation, any restriction on the right to vote, sell or otherwise dispose of such ownership interests). None of the Company Stock or any ownership interest in any Subsidiary has been transferred, sold, exchanged, assigned or given as a
gift, granted as a security interest, pledged or encumbered, made part of any voting trust or other agreement or arrangement with respect to the transfer of voting rights therein. 
 3.4 Capitalization. 
 (a) The authorized capital stock of the Company consists solely of 1,000 shares of preferred stock and 1,000,000 shares of common ordinary shares of Company Stock, of which a total of 1,097.84 shares of Common Stock are issued and
outstanding. Subject to the preceding sentence, there are no other types of shares in the Company whatsoever including without limitation any preferred stock. The number of issued and outstanding shares of Company Stock held by each Stockholder are
set forth on Schedule 3.4(a) of the Company Disclosure Letter, and no shares of Company Stock are issued or outstanding as of the date of this Agreement, or will be at the Closing Date, that are not set forth on Schedule 3.4(a) of the
Company Disclosure Letter and no such shares will be issued or outstanding as of the Closing Date that are not set forth on Schedule 3.4(a) of the Company Disclosure Letter. Except as set forth on Schedule 3.4(a), there are no
outstanding options or Warrants to purchase any shares of the Company, including without limitation, any Company Stock. Except as set forth on Schedule 3.4(b) of the Company Disclosure Letter, there are no stock appreciation rights, options,
warrants, calls, rights, commitments, conversion privileges or preemptive or other rights or agreements outstanding to purchase or otherwise acquire any shares of the Company capital stock or any securities or debt convertible into or exchangeable
for the Company capital stock. Except as contemplated by this Agreement, there are no voting agreements, voting trusts or proxies applicable to any of the Company’s outstanding capital stock or to the conversion of any shares of the
Company’s capital stock to which the Company is a party or pursuant to any other agreement or obligation. 
 (b) The
authorized capital stock of Catalyst WMS International Limited consists solely of 500,000 ordinary shares, of which a total of 1,000 shares are issued and outstanding. Subject to the preceding sentence, there are no other types of shares each of the
Company’s Subsidiaries whatsoever including without limitation any preferred stock. Except as set forth on Schedule 3.4(a), there are no outstanding options or Warrants to purchase any shares 

  

 15 

 
of any of the Company’s Subsidiaries. Except as set forth on Schedule 3.4(b) of the Company Disclosure Letter, there are no stock appreciation
rights, options, warrants, calls, rights, commitments, conversion privileges or preemptive or other rights or agreements outstanding to purchase or otherwise acquire any shares of any of the Company Subsidiaries’ capital stock or any securities
or debt convertible into or exchangeable for Subsidiaries such capital stock. Except as contemplated by this Agreement, there are no voting agreements, voting trusts or proxies applicable to any of the Company’s Subsidiaries’ outstanding
capital stock or to the conversion of any such shares. 
 3.5 Litigation. 
 (a) Except as set forth on Schedule 3.5 of the Company Disclosure Letter, there is no action, suit, arbitration, proceeding,
inquiry, claim or investigation pending against, or threatened against or affecting either the Company, any Subsidiary, any Stockholder or any of their respective properties or assets before any court or arbitrator or any governmental body, agency
or official (whether or not the defense thereof or liabilities in respect thereof are covered by insurance) whatsoever and there is no reasonable basis for any such action, suit, proceeding, claim, arbitration, mediation or investigation (any
“Proceeding”). To the Company’s Knowledge, there are no facts existing as at the Closing Date which would likely give rise to any material Proceeding. 
 (b) There is no judgment, decree, injunction, rule or order against the Company. To the Company’s Knowledge, there is no reasonable
basis for any Person to assert a claim against the Company based upon: (A) the Company entering into this Agreement or any of the other transactions or agreements contemplated hereby; (B) any confidentiality or similar agreement entered
into by the Company; or (C) any claim that the Company has agreed to sell or dispose of its assets to any party other than Buyer, whether by way of merger, consolidation, sale of assets or otherwise. Except as set forth on Schedule 3.5
of the Company Disclosure Letter, the Company has no action, suit, proceeding, claim, arbitration or mediation against any other Person. Neither the Company nor any Subsidiary have commenced or settled any legal proceedings within the last five
(5) years. 
 (c) Except as set forth on Section 3.5 of the Company Disclosure Letter. No claim has been made
against the Company or any Subsidiary in connection with any defective product or services supplied by it in the course of carrying on its business and the Company and each Subsidiary has maintained insurance that is customary to the applicable
industry and type of business, for at least the last five (5) years against any such claim. 
 (d) Except as set forth on
Section 3.5 of the Company Disclosure Letter. Each of the products produced or sold by the Company and each Subsidiary is, and at all times up to and including the Closing Date, has been: (i) in compliance in all material respects with all
applicable federal, state, local and foreign Laws and regulations; and (ii) fit for the ordinary purposes for which it is intended to be used and conforms to any promises or affirmations of fact made in respect of such product or in connection
with such sale. There is no design defect with respect to any such products the existence of which could have a Material Adverse Effect on the Company and each of such products contains adequate warnings, presented in a reasonably prominent manner,
in accordance with all applicable laws, rules and regulations and current industry practice with respect to its content and use. 
  

 16 

 3.6 Financial. 
 (a) The Company has delivered to Buyer as attachments to Schedule 3.6 of the Company Disclosure Letter (i) an unaudited
consolidated balance sheet for the Business dated June 30, 2007 (the “Balance Sheet Date” and such unaudited consolidated balance sheet, the “Company Balance Sheet”), (ii) an unaudited
consolidated income statement and statement of cash flows for the seven months ended June 30, 2007, (iii) audited consolidated balance sheets of the Company dated December 31, 2005 and 2006, and (iv) audited consolidated income
statements and statements of cash flows for the years ended December 31, 2005 and 2006 (all such financial statements of the Company and any notes thereto are hereinafter collectively referred to as the “Company Financial
Statements”). The Company Financial Statements for June 30, 2007 and year end audited statements: (i) correct and complete in all material respects, (ii) are derived from and are in accordance with the books and records
of the Company in all material respects; (iii) fairly and accurately represent in all material respects the financial condition of the Business or the Company, as the case may be, at the respective dates specified therein and the results of
operations for the respective periods specified therein in conformity with GAAP applied on a consistent basis; and (iv) have been prepared in accordance with GAAP applied on a basis consistent with prior periods, except for any absence of notes
thereto and normal year-end adjustments. There has been no material change in the Company’s accounting policies other than as specifically described in the notes to the Company Financial Statements. The Company has no Liabilities other than
(a) Liabilities set forth on the Company Balance Sheet or elsewhere in the Company’s Financial Statements, and (b) Liabilities set forth on Schedule 3.6. 
 (b) The Maintenance Revenue projections for calendar year 2007 and 2008 provided to the Buyer by or on behalf of the Company or any
Subsidiary, were prepared in good faith and were based upon reasonable assumptions. There was at the time of the Closing no matters or circumstances that were known by the Company, or any Stockholder that would reasonably have had a material impact
on the actual and projected financial results of the Company or any Subsidiary set forth therein. For the avoidance of doubt, financial results for calendar year 2007 have differed from those projections set forth on the Company’s 2007 calendar
year budget, a copy of which has been provided to Buyer. 
 (c) The Company and each of its Subsidiaries is not directly or
indirectly obliged in any way to guarantee, assume or provide funds to satisfy an obligation of any Person. No letter of comfort has been given by the Company or any of its Subsidiaries. 
 3.7 Taxes. Except as set forth on Schedule 3.7: 
 (a) The Company and each Subsidiary (i) has properly completed and timely filed all Tax and information returns and reports
(collectively, “Tax Returns”) required to be filed by it, (ii) has timely paid all Taxes required to be paid in respect of all periods whether or not shown on a Tax Return, (iii) has established an adequate accrual
or reserve for the payment of all unpaid Taxes up to the Balance Sheet Date, and (iv) has withheld all amounts required by any applicable laws or regulations to be withheld from compensation paid or owed to the Company’s (or respective
Subsidiaries’) employees, consultants, directors or other third parties. 
 (b) Neither the Company nor any Subsidiary
has received any written notice that a Tax Return is under audit by the IRS or other Governmental Entity, and any such past audits (if any) have been completed and fully resolved to the satisfaction of the applicable Governmental Entity conducting
such audit and all Taxes and any penalties or interest determined by such audit to be due from the Company (or such Subsidiary) have been paid in full to the applicable Governmental Entities. 
  

 17 

 (c) No Tax liens are currently in effect against the Company or any Subsidiary, except
Permitted Encumbrances and Encumbrances for such Taxes not yet due and payable. 
 (d) There is not in effect any waiver by
the Company or any Subsidiary of any statute of limitations with respect to any Taxes nor has the Company (or any Subsidiary) agreed to any extension of time for filing any such Tax Return that has not been filed, and neither the Company nor any
Subsidiary has not consented to extend to a date later than the date hereof the period in which any such Tax may be assessed or collected by any Governmental Entity; and 
 (e) No benefit payable or which may become payable by the Company or any Subsidiary pursuant to any employee plan or as a result of or
arising under this Agreement will constitute an “excess parachute payment” (as defined in Section 280G(b)(1) of the Code) which is subject to the imposition of an excise Tax under Section 4999 of the Code or which would not be
deductible by reason of Section 280G of the Code. 
 3.8 Title to Assets; Sufficiency of Assets; Permits; Compliance. The Company
and each of its Subsidiaries has good and marketable title to, or a valid leasehold interest in, all of the Company’s (and such Subsidiary’s) assets, free and clear of any Encumbrances except Permitted Encumbrances, and as otherwise set
forth in the Company Balance Sheet or on Schedule 3.8 of the Company Disclosure Letter. All of the Company’s and each of its Subsidiaries’ tangible personal property is in good operating condition and repair, normal wear and tear
excepted. All leases of real or personal property to which the Company or any Subsidiary is a party are fully effective. The Company and its Subsidiaries do not own any real property, and, since its inception, the Company has not been a “United
States real property holding corporation,” as defined in Section 897(c)(2) of the Code. Neither the Company nor any Subsidiary is in violation of any zoning, building, safety or environmental ordinance, regulation or requirement applicable
to the operation of its owned or leased properties or of any other applicable material law, nor has the Company or any Subsidiary received any written notice of any such violation. Except as set forth in Schedule 3.8 of the Company Disclosure
Letter, none of the Company’s (or any Subsidiaries’) assets is licensed or leased from any third party and no royalties, license fees or similar payments are due or payable (or may become due or payable) to any third party under any
contract. The Company and each of its Subsidiaries is in possession of all registrations, , authorizations, licenses, permits, easements, variances, exceptions, consents, certificates, approvals and others of any Government Entity necessary for the
Company (and such Subsidiary) to own, lease and operate its properties or to carry on its business as it is now being conducted (“Permits”). As of the date hereof, no suspension or cancellation of any of the Permits is
pending, or to the Company’s Knowledge, threatened. 
 3.9 Absence of Certain Changes. Except as set forth on Schedule 3.9
of the Company Disclosure Letter, since the Balance Sheet Date, the Company and each of its Subsidiaries has conducted the Business in the ordinary course substantially in accordance with the procedures and practices in effect on the Balance Sheet
Date, and since the Balance Sheet Date there has not been with respect to the Company and each Subsidiary any: 
 (a) Material
Adverse Change; 
 (b) material revaluation by the Company of any of the Company’s or its Subsidiaries’ assets;

  

 18 

 (c) incurrence, creation or assumption by the Company or any Subsidiary of (i) any
Encumbrance on any of the Company’s (or Subsidiary’s) assets, other than Permitted Encumbrances and as set forth in Schedule 3.9, (ii) any Liability or any indebtedness for borrowed money, or (iii) any contingent liability
as a guarantor or surety with respect to the obligations of others; 
 (d) purchase, license, sale, assignment or other
disposition or transfer, or any contract or other arrangement for the purchase, license, sale, assignment or other disposition or transfer, of any of the Company’s or any Subsidiaries’ assets outside the ordinary course of business;

 (e) damage, destruction or loss of any of the Company’s (or any Subsidiaries’) assets, whether or not covered by
insurance; 
 (f) payment or discharge by the Company (or any Subsidiary) of any Encumbrance on any of the Company’s (or
any Subsidiaries’) assets or payment or discharge of any Liability of the Company (or such Subsidiary), in each case that was not shown on the Company Financial Statements; outside the ordinary course of business; 
 (g) entering into, amendment of, relinquishment, termination or non-renewal by the Company or any Subsidiary of any material Contract,
transaction, commitment or other right or obligation (or any waiver by the Company or any Subsidiary of a valuable right or of a material debt) or any written or oral indication or assertion by the other party thereto of any material problems with
the Company’s (or any Subsidiaries’) products or services or performance under such Contract, transaction, commitment or other right or obligation or its desire to so amend, relinquish, terminate or not renew any such Contract,
transaction, commitment or other right or obligation outside the ordinary course of business; 
 (h) license, transfer or
grant of a right under any Company or any of its Subsidiaries’ IP Rights (as defined in Section 3.12(a)) outside the ordinary course of business; 
 (i) change or amendment to the Company’s or any Subsidiaries’ Certificate of Incorporation or Bylaws; 
 (j) material change in the manner in which the Company or any Subsidiary extends discounts, credits or warranties to its customers or otherwise deals with its customers; 
 (k) change or increase in the compensation payable or to become payable to any of the directors, officers, employees or consultants of the
Company or any Subsidiary or in any bonus, pension, severance, retention, insurance or other benefit payment or arrangement (including stock awards, stock option grants, stock appreciation rights or stock option grants) made to or with any of such
directors, officers, employees or consultants; or 
 (l) other event or condition of any character which would materially and
adversely affect the Company or any Subsidiary. 
  

 19 

 3.10 Material Contracts. Except as specifically identified in subsections (a) through
(l) of Schedule 3.10 of the Company Disclosure Letter, neither the Company nor any Subsidiary is a party or subject to any of the following in connection with the Business: 
 (a) any Contract providing for payments (whether fixed, contingent or otherwise) by or to the Company in an aggregate amount of $75,000 or
more; 
 (b) any dealer, distributor, OEM (original equipment manufacturer), VAR (value added reseller), marketing, sales
representative or similar agreement under which any third party is authorized to sell, sublicense, lease, distribute, market or take orders for, any product, service or technology of the Company; 
 (c) any Contract providing for the development of any software, content (including textual content and visual, photographic or graphics
content), technology or Intellectual Property Right for (or for the benefit or use of) the Company or any Subsidiary, or providing for the purchase by (or for the benefit or use of) or license to the Company or any Subsidiary of any software,
content (including textual content and visual, photographic or graphics content), technology or Intellectual Property Right, which software, content, technology or Intellectual Property Right is in any manner used or incorporated (or is presently
contemplated by the Company or any Subsidiary to be used or incorporated) in connection with any aspect or element of any Software, product, service or technology of the Company or any Subsidiary (other than software generally available to the
public at a per copy license fee of less than $500 per copy); 
 (d) any Contract which has involved, or is reasonably
expected to involve, a sharing of revenues, profits, cash flows, expenses or losses by the Company or any Subsidiary with any other Person; 
 (e) any Contract for or relating to the employment of any officer, employee or consultant of the Company or any Subsidiary or any other type of Contract with any officer, employee or consultant of the Company or any
Subsidiary; 
 (f) any Contract pursuant to which the Company or any Subsidiary has acquired a business or entity, or material
portion of the assets of a business or entity, whether by way of merger, consolidation, purchase of stock, purchase of assets, exclusive license or otherwise; 
 (g) any lease or other agreement under which the Company or any Subsidiary is lessee of or holds or operates any items of tangible
personal property or real property owned by any other Person; 
 (h) any Company IP Rights Agreement (as defined in
Section 3.12(b)); 
 (i) any Governmental Permit (as defined in Section 3.13); or 
 (j) any other Contract to which the Company or any Subsidiary is a party or by which the Company, any Subsidiary or any of its assets or
properties are bound. 
 A true and complete copy of each Contract and document (or, with respect to subsection (i), Governmental Permit) required by
subsections (a) through (j) of this Section 3.10 to be listed on Schedule 3.10 of the Company Disclosure Letter (the “Material Contracts”) has been made available to Buyer. 
  

 20 

 3.11 No Default; No Restrictions. 
 (a) Except as set forth on Section 3.11 of the Company Disclosure Letter. Each Material Contract is valid and in full force and
effect. Neither the Company nor any Subsidiary, nor to the Company’s Knowledge, any other party is in material breach or default under any Material Contract. To the Company’s Knowledge, no event has occurred, and no circumstance or
condition exists, that (with or without notice or lapse of time, or both) will (i) result in a material violation or breach by the Company, any of its Subsidiaries or any other party of any of the provisions of any Material Contract or
(ii) give any third party (A) the right to declare a default or exercise any remedy under any Material Contract, (B) the right to a rebate, chargeback or penalty under any Material Contract, (C) the right to accelerate the
maturity or performance of any obligation of the Company or any Subsidiary under any Material Contract, or (D) the right to cancel, terminate or modify (in a manner materially adverse to the Company or any of its Subsidiaries) any Material
Contract. Neither the Company nor any Subsidiary has received any written notice regarding any actual or possible material violation or breach of, or default under, any Material Contract and to the Company’s Knowledge, does not reasonably
expect to receive any such notice. 
 (b) Except as set forth on Section 3.11 of the Company Disclosure Letter. Neither
the Company nor any Subsidiary is a party to, and none of the Company’s (or any Subsidiaries’) assets is bound or affected by, any judgment, injunction, order, decree, covenant or Contract (noncompete or otherwise) that materially
restricts or prohibits, or purports to materially restrict or prohibit, the Company or its Subsidiaries from freely engaging in any business now conducted by the Company or any of its Subsidiaries or from competing anywhere in the world (including
any covenants or Contracts restricting the geographic area in which the Company or any of its Subsidiaries may sell, license, market, distribute or support any products or technology or provide services or restricting the markets, customers or
industries that the Company or any of its Subsidiaries may address in operating the Business or restricting the prices that the Company or any of its Subsidiaries may charge for its products, technology or services) or includes any grants by the
Company or any of its Subsidiaries of exclusive rights or licenses. 
 (c) To the extent any Material Contract provides for
services to be performed by the Company or any of its Subsidiaries: (i) such services have been timely and properly completed in all material respects in accordance with the terms of such Material Contracts, and to the Company’s Knowledge,
it has no liability arising out of any prior deliverables; (ii) neither the Company nor any of its Subsidiaries have received any written communication of non-compliance in relation to any Material Contract; and (iii) the Company and its
Subsidiaries are in material compliance with all maintenance and enhancement obligations contained in all Material Contracts. 
 3.12
Intellectual Property Rights. 
 (a) The Company (i) owns, or (ii) has the valid right or license to use,
possess, develop, sell, license, copy, distribute, market, advertise and/or dispose of, all Intellectual Property Rights and Software used in the conduct of the Business (such Intellectual Property Rights being hereinafter collectively referred to
as the “Company IP Rights”). Such Company IP Rights are sufficient for the conduct of the Business as conducted prior to the Closing. 
  

 21 

 (b) Neither the execution, delivery and performance of this Agreement nor the
consummation of the transactions contemplated by this Agreement will, in accordance with their terms: (i) constitute a material breach of or default under any Material Contract governing any Company IP Right (collectively, the
“Company IP Rights Agreements”); (ii) cause the forfeiture or termination of, or give rise to a right of forfeiture or termination of, any Company IP Right; or (iii) materially impair the right of the Company or
Buyer, to use, possess, sell or license any Company IP Right or portion thereof. There are no royalties, honoraria, fees or other payments payable by the Company to any third Person (other than salaries payable to employees and independent
contractors not contingent on or related to use of their work product) as a result of the ownership, use, possession, license-in, sale, marketing, advertising or disposition of any Company IP Rights by the Company, and none will become payable as a
result of the consummation of the transactions contemplated hereby. 
 (c) To the Company’s Knowledge, neither the use,
marketing, license, sale, distribution or intended use of any product or service currently licensed, utilized, sold, provided or distributed by the Company: (i) violates any license or other Contract between the Company and any third party, or
(ii) infringes or misappropriates any Intellectual Property Right of any other party. 
 (d) Schedule 3.12(d) of
the Company Disclosure Letter contains a true and complete list of all registered Intellectual Property Rights, as well as all pending applications to register any of the same that are owned by the Company. To the Company’s Knowledge, all
registered Intellectual Property Rights owned by the Company are valid, enforceable and subsisting. 
 (e) To the
Company’s Knowledge, there has not been any infringement of any Company IP Rights. 
 (f) To the Company’s
Knowledge, there has not been any infringement by the Company of any third party’s Intellectual Property rights. 
 (g)
Schedule 3.12(g) of the Company Disclosure Letter lists all software or other material that is distributed as “free software”, “open source software” or under a similar licensing or distribution model
(“Open Source Materials”) that is included in any Software or other intellectual property assets owned by the Company or any of its Subsidiaries, or that, to Company’s Knowledge, is included in any Software
or other intellectual property assets used by Company or any of its Subsidiaries in any way, and describes the manner in which such Open Source Materials were used (such description shall include whether (and, if so, how) the Open Source Materials
were modified and/or distributed by Company or any of its Subsidiaries.) Except as explicitly set forth in the Disclosure Letter, the Company or any of its Subsidiaries has not (i) incorporated Open Source Materials into, or combined Open
Source Materials with, any Software or other intellectual property assets owned or licensed by the Company or any of its Subsidiaries; (ii) distributed Open Source Materials in conjunction with any Software or other intellectual property assets
owned or licensed by the Company or any of its Subsidiaries; or (iii) used Open Source Materials that create, or purport to create, obligations for Company or any Subsidiary with respect to any of its/their Software or Company IP Rights or
grant, or purport to grant, to any third party, any rights or immunities under any Software or Company IP Rights (including using any Open Source Materials that require, as a condition of use, modification and/or distribution of such 

  

 22 

 
Open Source Materials that other software incorporated into, derived from or distributed with such Open Source Materials be (A) disclosed or distributed
in source code form, (B) be licensed for the purpose of making derivative works, or (C) be redistributable at no charge.) 
 3.13
Compliance with Laws. Except as set forth on Section 3.13 of the Company Disclosure Letter the Company and its Subsidiaries have complied in all material respects with, and to its knowledge, has not received any written notices of
violation with respect to, any federal, state, local or foreign statute, law or regulation, including United States export control laws and regulations. The Company and each of its Subsidiaries has obtained each federal, state, county, local or
foreign governmental consent, license, permit, grant or other authorization of a Governmental Entity (i) pursuant to which the Company and/or such Subsidiary currently operates or holds any interest in any of its assets or (ii) that is
required for the operation of the Business in material compliance with all applicable federal, state, local or foreign statutes, laws or regulations (all of the foregoing consents, licenses, permits, grants and other authorizations, collectively,
the “Governmental Permits”), and all of the Governmental Permits are in full force and effect, except where the failure to have such Governmental Permits or for such Governmental permits to be in full force and effect, as
applicable, would not have a Material Adverse Effect on the Company or any of its Subsidiaries. Neither the Company nor any Subsidiary has received any written notice from any Governmental Entity regarding (i) any actual or possible violation
of any Governmental Permit or any failure to comply with any term or requirement of any Governmental Permit or (ii) any actual or possible revocation, withdrawal, suspension, cancellation, termination or modification of any Governmental Permit.
The Company and each of its Subsidiaries are in compliance in all material respects with the terms of all Governmental Permits. Since inception, neither the Company, any Subsidiary, nor, to the Company’s Knowledge, any director, officer, agent
or employee of the Company or any of its Subsidiaries, has given, offered, paid, promised to pay or authorized payment of any money, any gift or anything of value, with the purpose of influencing any act or decision of the recipient in his or her
official capacity or inducing the recipient to use his or her influence to affect an act or decision of a government official or employee, to any (i) governmental official or employee, (ii) political party or candidate thereof, or
(iii) Person while knowing that all or a portion of such money or thing of value would be given or offered to a governmental official or employee or political party or candidate thereof. 
 3.14 Employee Matters. 
 (a) General. 
 (i) The Company and each of its Subsidiaries is in material compliance with all applicable laws and Contracts
relating to employment, employment practices, immigration, wages, hours and terms and conditions of employment, including employee compensation matters, and has correctly classified employees as exempt employees and non-exempt employees under the
Fair Labor Standards Act. 
 (ii) Neither the Company nor any of its Subsidiaries is liable for any arrears of wages or any employee related
Taxes or any penalty for failure to comply with any of the foregoing. 
 (iii) Neither the Company nor any of its Subsidiaries is liable for
any payment to any trust or other fund or to any Governmental Entity with respect to unemployment compensation contributions, social security or other benefits or obligations for any of its employees (other than routine payments to be made in the
ordinary course of business and consistent with its past practice). Schedule 3.14(a) of the Company Disclosure Letter contains true and correct details of all remuneration payable (including any bonus or commission entitlements) and any other
benefits provided or which the Company or any of its Subsidiaries is bound to provide (whether now or in the future) for all employees and consultants, other than those employees and consultants are to be terminated prior to Closing, including

  

 23 

 
without limitation, accrued vacation and accrued sick leave. There are no controversies or claims pending or, to the Company’s Knowledge, threatened
between the Company, any of its Subsidiaries and any of its respective employees, other than as listed on Schedule 3.14(a). 
 (b) Employee Plans. Schedule 3.14(b) of the Company Disclosure Letter sets forth a complete list or summary of each “employee pension benefit plan,” as defined in Section 3(2) of the Employee Retirement Income Security
Act of 1974, as amended (“ERISA”), each material “employee welfare benefit plan,” as defined in Section 3(1) of ERISA, each material employment, consulting, severance or similar contract, plan, program,
arrangement or policy and each other material plan, program, policy or arrangement providing for benefits, compensation, retention payments, bonuses, fees, profit-sharing, stock option, stock purchase or other stock related rights or other forms of
incentive or deferred compensation, change in control benefits, vacation benefits, other “fringe” benefits, insurance (including any self-insured arrangements), health or medical benefits, employee assistance programs, disability or sick
leave benefits, workers’ compensation, supplemental unemployment benefits, severance benefits and post-employment or retirement benefits that is has been, within the six calendar years preceding the Closing Date, maintained, administered or
contributed to by the Company or any of its Subsidiaries (such plans, collectively, the “Company Benefit Plans”). The Company has made available to Buyer true and complete copies of each Company Benefit Plan or a summary of
such plan. 
 (c) Except as set forth on Schedule 3.14 of the Company Disclosure Letter, to the Company’s
Knowledge, all Company Benefit Plans are, by their terms and in operation, in material compliance with ERISA and the Code (as amended through the Closing Date), the regulations and published authorities thereunder, and all other applicable legal
requirements. 
 (d) Neither the Company nor any Subsidiaries maintains or contributes to, and neither have maintained or
contributed to (or been obligated to contribute to) within the six calendar years preceding the Closing Date, any employee pension benefit plan (within the meaning of Section 3(2) of ERISA) that is a defined benefit plan, any multiemployer plan
(within the meaning of Section 3(37) of ERISA), any “multiple employer plan” (within the meaning of Section 4063 or 4064 of ERISA or Section 413(c) of the Code), any employee benefit plan, fund, program, contract or
arrangement that is subject to Section 302 of ERISA or Title IV of ERISA or Section 412 of the Code, or any “multiple employer welfare arrangements” (within the meaning of Section 3(40) of ERISA). Except as set forth on
Schedule 3.14 of the Company Disclosure Letter, none of the Company Benefit Plans provides for post-termination benefits of any kind with respect to any of the Company’s or any of its Subsidiaries’ current or former officers,
employees, agents, directors or independent contractors, except as otherwise required by Sections 601 through 608 of ERISA and Section 4980B(f) of the Code or comparable state laws. 
 3.15 No Brokers. Except as set forth on Schedule 3.15, none of the Company, or any of its Subsidiaries or any Affiliate of the Company or
any of its Subsidiaries is obligated for the payment of any fees or expenses of any investment banker, broker, finder or similar party in connection with the origin, negotiation or execution of this Agreement or in connection with the transactions
contemplated hereby. None of the Buyer, Merger Subsidiary, Surviving Corporation or the Company will incur any Liability, either directly or indirectly, to any such investment banker, broker, finder or similar party as a result of this Agreement,
the transactions contemplated hereby or any act or omission of the Company or any of its employees, officers, directors, stockholders, agents or Affiliates. 
 3.16 Books and Records. The minute books of the Company and each of its Subsidiaries in all material respects reflect all meetings of directors and stockholders or actions by written consent since the 

  

 24 

 
time of incorporation of such entity. The minute books, statutory books and registers and other similar records of the Company and its Subsidiaries:
(i) are true and complete in all material respects, and (ii) have been maintained in accordance with reasonable business practices on a basis consistent with prior years. 
 3.17 Insurance. The Company and its Subsidiaries maintain policies of insurance and bonds (each, an “Insurance Policy”) of
the type and in amounts reasonably and customarily carried by Persons conducting businesses or owning assets similar in type and size to those entities, including all legally required workers’ compensation insurance and errors and omissions,
casualty, fire and general liability insurance. Each Insurance Policy now held by the Company and/or its Subsidiaries is set forth on Schedule 3.17 of the Company Disclosure Letter, together with the name of the insurer, the type of policy or
bond and the coverage amount. There is no claim pending under any of such policies or bonds as to which coverage has been questioned, denied or disputed by the underwriters of such policies or bonds, and all such policies and bonds are in full force
and effect. All premiums due and payable under all such policies and bonds have been paid, and the Company and its Subsidiaries are otherwise in material compliance with the terms of such policies and bonds. 
 3.18 Certain Transactions. Except as set forth on Schedule 3.18, to the Company’s Knowledge, none of the directors or officers of the
Company or its Subsidiaries (i) has or ever had any direct or indirect ownership, participation, royalty or other interest in, or is a director, officer, employee, consultant or contractor for, any firm, partnership, entity or corporation that
competes with, or does business with, or has any contractual arrangement with, the Company or any of its Subsidiaries (except with respect to any interest in less than 1% of the stock of any corporation whose stock is publicly traded), (ii) is
or ever was a party to, or is or ever was otherwise directly or indirectly interested in, any Contract or formal or informal arrangement or understanding with the Company or any of its Subsidiaries, except for normal compensation for services as a
director, officer or employee that has previously been disclosed in writing to Buyer, (iii) has or ever had any interest in any of the Company’s (and/or its Subsidiaries’) assets, except for the rights of stockholders under applicable
law, or (iv) has or ever had, either directly or indirectly, a material interest in any Contract to which the Company or any of its Subsidiaries is a party or by which the Company (or any of its Subsidiaries) or any of their assets or
properties may be bound or affected. 
 3.19 Real Property and Business Premises. Neither the Company nor any of its Subsidiaries owns
any real property whatsoever. All commercial leases and subleases executed by the Company and/or any of its Subsidiaries are in full force and effect, and neither the Company nor any of its Subsidiaries has received written notice of any claim of
any sort that is currently outstanding and that has been asserted by anyone adverse to the rights of the Company (or such Subsidiary) under any of the leases or subleases mentioned above, or affecting or questioning the rights of the Company (or
such Subsidiary) to the continued possession of the commercial leases or subleases premises under any such commercial lease or sublease. 
 3.20 Powers of Attorney. There are no outstanding powers of attorney executed on behalf of the Company and/or any of its Subsidiaries. 
 3.21 No Bankruptcy or Insolvency. No order has been made, or petition presented, for the winding-up or bankruptcy of any of the Stockholders, the Company or any of its Subsidiaries. None of the Company, any of
its Subsidiaries or any Stockholder has had: (i) any petition or order for winding-up or bankruptcy filed against it; (ii) any appointment of a receiver over the whole or part of the undertaking of its assets; (iii) any petition or
order for administration against it; (iv) any distress or execution or other process levied in respect of it which remain undischarged; or (v) any unfulfilled or unsatisfied judgment or court order against it over the amount of $5,000.

 3.22 Dividends. All dividends payable with respect to the Company Stock have been fully and properly paid to the holders of such
Company Stock. 
  

 25 

 3.23 Environmental Matters. No written notice, notification, demand, request for information,
citation, summons or order has been received, no complaint has been filed, no penalty has been assessed and no investigation, action, claim, suit, proceeding or review is pending, or threatened by any government entity or other Person with respect
to any matters relating to the Company or any Subsidiary and relation to or arising out of any Environmental Law. There are no facts, conditions, situations or set of circumstances which could reasonably be expected to result in or be the basis for
any liability of or relating to the Company or any Subsidiary arising under or relating to any Environmental Law. 
 3.24 Disclosure.
To the Company’s Knowledge, none of the representations or warranties made herein contains any untrue statement of material fact or omits to state any material fact necessary in order to make the statements contained herein, in the light of the
circumstances under which such statements were made, not misleading. There have been no events or transactions or information that, to the Company’s Knowledge, could reasonably be expected to have a Material Adverse Effect on the Company or any
of its Subsidiaries. 
 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES OF BUYER AND MERGER SUBSIDIARY 
 Each of Buyer and Merger Subsidiary
jointly and severally represents and warrants to the Stockholder Parties that each statement contained in this Article IV is true and correct as of the date hereof, except as set forth in the disclosure letter of the Buyer (collectively, the
“Buyer Disclosure Letter”). The Buyer Disclosure Letter has been arranged for purposes of convenience only, as sections corresponding to the Sections of this Article IV. Each section of the Buyer Disclosure Letter shall be
deemed to incorporate by reference all information disclosed in any other section of the Buyer Disclosure Letter. 
 4.1 Organization and
Good Standing. Each of Buyer and Merger Subsidiary is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation. Buyer has the corporate power to own, lease and operate its
properties and to carry on its business as now being conducted, and is duly qualified to do business and is in good standing as a foreign corporation in each jurisdiction in which it owns or leases property or conducts any business so as to require
such qualification. 
 4.2 Authorization. The Buyer and Merger Subsidiary have all requisite corporate power and authority to enter
into, execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby. The execution, delivery and performance by the Buyer and Merger Subsidiary of this Agreement and all other agreements,
transactions and actions contemplated hereby have been duly and validly approved and authorized by the Buyer and Merger Subsidiary’s Board of Directors. 
 4.3 No Brokers. None of the Buyer or Merger Subsidiary, or any Affiliate of the Buyer or Merger Subsidiary is obligated for the payment of any fees or expenses of any investment banker, broker, finder or
similar party in connection with the origin, negotiation or execution of this Agreement or in connection with the transactions contemplated hereby. Neither Buyer or Merger Subsidiary will incur any Liability, either directly or indirectly, to any
such investment banker, broker, finder or similar party as a result of this Agreement, the transactions contemplated hereby or any act or omission of the Buyer or Merger Subsidiary or any of its employees, officers, directors, stockholders, agents
or Affiliates. 
 4.4 Closing Consideration. Each of Buyer and Merger Subsidiary has available to it, and at the 

  

 26 

 
Closing will have available to it, sufficient cash and other financial resources sufficient to make full payment of the aggregate Closing Consideration and
pay all associated costs and expenses contemplated by this Agreement. 
 ARTICLE V 
 CONDUCT PRIOR TO THE CLOSING 
 5.1
Company Stockholder Approval. Promptly after the date of this Agreement, the Company will take all action necessary in accordance with its Certificate of Incorporation and Bylaws, each as currently in effect, and all applicable laws to call, notice,
convene, hold and conduct a meeting of the Company’s stockholders (the “Company Stockholders Meeting”) to be held as soon as practicable for the purpose of voting upon the Merger. In lieu of the Company Stockholders Meeting, such
approval by the Company’s stockholders may be obtained by the written consent of the Company’s stockholders (the “Company Stockholders Consent”) where authorized by the Certificate of Incorporation and Bylaws of the Company. The
Board of Directors of the Company will recommend that the Company’s stockholders vote in favor of the Merger at the Company Stockholders Meeting or pursuant to the Company Stockholders Consent and will not change such recommendation.

 5.2 Advice of Changes. The Company will promptly advise Buyer in writing of any (a) event occurring subsequent to the date of
this Agreement that would render any representation or warranty of the Company contained in this Agreement, if made on or as of the date of such event or the Closing Date, materially untrue or inaccurate, (b) material breach of any covenant or
obligation of the Company pursuant to this Agreement, or (c) Material Adverse Change in the Business or operations. The Buyer will promptly advise Company in writing of any (a) event occurring subsequent to the date of this Agreement that
would render any representation or warranty of the Buyer contained in this Agreement, if made on or as of the date of such event or the Closing Date, materially untrue or inaccurate, or (b) material breach of any covenant or obligation of the
Company pursuant to this Agreement. 
 5.3 Conduct of Business. During the time period from the date of this Agreement until the
earlier to occur of (i) the Closing and (ii) the termination of this Agreement in accordance with the provisions of Article VIII, the Company covenants and agrees that, except as expressly contemplated by this Agreement, or by the Company
or any of its Subsidiaries in accordance with their ordinary course of business, the Company and each Subsidiary will continue to conduct the Business in the ordinary and usual course, and neither the Company or any of its Subsidiaries will, without
Buyer’s prior written consent except as may occur in the ordinary course of business: (i) enter into any material transaction or agreement or take any other action not in the ordinary course of business, consistent with its past practice;
(ii) grant or permit any Encumbrance on any of its assets; (iii) sell, transfer, assign, convey, lease, license, move, relocate or otherwise dispose of any of its assets; (iv) enter into any material Contract for the purchase or sale
of any of its assets; (v) amend or terminate any material Contract to which the Company or any of its Subsidiaries is a party; (vi) waive or release any material right or claim; (viii) license any of its technology or Intellectual
Property Rights or acquire any Intellectual Property Rights (or any license thereto) from any third party; or (viii) agree to do any of the things described in the preceding clauses (i) through (vii). 
 5.4 No Other Negotiations. 
 (a) The Company will not, and will not authorize, encourage or permit any other Person, including any of its directors, officers, agents, advisors and other representatives (all of the foregoing Persons collectively being the
“Company Representatives”), on its behalf to, directly or indirectly: (i) solicit, initiate, encourage, induce or facilitate the making, submission or 

  

 27 

 
announcement of any inquiry, expression of interest, offer or proposal from any Person concerning any Alternative Transaction (as defined below) or take any
other action that could reasonably be expected to lead to an Alternative Transaction or a proposal therefor; (ii) furnish any information regarding the Business to any Person (other than Buyer) in connection with, or enter into, participate in,
maintain or continue, any discussions or negotiations with any Person (other than Buyer) regarding, any inquiry, offer or proposal concerning any Alternative Transaction; (iii) cooperate with, facilitate or encourage any effort or attempt by
any Person (other than Buyer) to effect any Alternative Transaction; or (iv) enter into or become bound by any letter of intent, agreement, commitment or understanding between the Company and any Person (other than Buyer) that is related to,
provides for or concerns any Alternative Transaction. As used herein, the term “Alternative Transaction” means any commitment, agreement or transaction with any party other than Buyer or any of its Affiliates involving or
providing for the possible disposition of the Business, whether by way of merger, consolidation, sale of assets, sale of stock, stock exchange, tender offer and/or any other form of business combination or strategic transaction. 

(b) The Company shall immediately notify Buyer after receipt by the Company (or, to the Company’s Knowledge, by any of the Company
Representatives) of any inquiry, expression interest, offer or proposal that constitutes, or could reasonably be expected to lead to, an Alternative Transaction or any other notice that any Person is considering an Alternative Transaction or any
request for information relating to the Company or the Business or for access to any of the properties, books or records of the Company by any Person or Persons other than Buyer (which notice shall identify the Person or Persons making, or
considering making, such inquiry, expression of interest, proposal, offer or request) and shall keep Buyer fully informed of the status and details of any such inquiry, expression of interest, proposal, offer or request and any correspondence or
communications related thereto and shall provide to Buyer a true, correct and complete copy of such inquiry, expression of interest, proposal, offer or request and any amendments, correspondence and communications related thereto, if it is in
writing, or a written summary thereof, if it is not in writing. The Company shall immediately cease and cause to be terminated any and all existing activities, discussions and negotiations with any Persons conducted heretofore with respect to an
Alternative Transaction. 
 ARTICLE VI 
 ADDITIONAL AGREEMENTS 
 6.1 Access to Information. During the period commencing on the date of
this Agreement and continuing until the earlier of the termination of this Agreement in accordance with the provisions of Article VIII and the Closing, the Company shall afford Buyer and its accountants, counsel and other representatives reasonable
access during normal business hours to all of the Company’s properties, books, Contracts and records and all other information concerning the Business as Buyer may reasonably request. Subject to compliance with applicable law, from the date of
this Agreement until the earlier of the termination of this Agreement in accordance with the provisions of Article VIII and the Closing, the Company shall confer from time to time as reasonably requested by Buyer with one or more representatives of
Buyer to discuss any material changes or developments in the Business. No information or knowledge obtained in any investigation pursuant to this Section 6.1 shall affect or be deemed to modify any representation or warranty contained herein or
the conditions to the obligations of the parties hereto to consummate the Merger. 
 6.2 Confidentiality. The Company and each
Stockholder covenants and agrees with Buyer that, from and at all times after the Closing, all confidential and/or proprietary information relating to the Company and the Business, including any trade secrets, will be held in strict confidence by
the Company and will not be disclosed by the Company, any Subsidiary, any Stockholder or any director, officer, 

  

 28 

 
employee or agent of or on behalf of the Company, and Subsidiary or any Stockholder, other than as may be required under applicable law. The Buyer and Merger
Subsidiary covenants and agrees with Company and the Stockholders that, from and at all times after the date hereof, all confidential and/or proprietary information relating to the Company and the Business, including any trade secrets, will be held
in strict confidence by the Buyer and Merger Subsidiary and will not be disclosed by the Buyer, the Merger Subsidiary or any director, officer, employee or agent of or on behalf of the Buyer or Merger Subsidiary, other than as may be required under
applicable law. 
 6.3 Public Disclosure. The Company shall not directly or indirectly, issue any press release or other public
statement relating to the terms of this Agreement or the transactions contemplated hereby without Buyer’s prior written approval. The Company shall not directly or indirectly, use Buyer’s name or refer to Buyer directly or indirectly in
connection with Buyer’s relationship with the Company in any media interview, advertisement, news release, press release or professional or trade publication, or in any print media, whether or not in response to an inquiry, unless otherwise
required by applicable law or with Buyer’s prior written consent. Buyer shall provide the Company with an advance copy of any press releases issued by Buyer pertaining to this Agreement or the transactions contemplated hereby at least 24 hours
prior to its release, for the Company’s approval, which approval shall not be unreasonably withheld. 
 6.4 Consents. The Company
shall use its commercially reasonable efforts to obtain at or prior to Closing, the consents, waivers and approvals set forth on Schedule 6.4, in each case in a form that is reasonably acceptable to Buyer. 
 6.5 Legal Requirements. Buyer and the Company shall (i) take all reasonable actions necessary to comply promptly with all legal requirements
which may be imposed on it with respect to the consummation of the transactions contemplated by this Agreement (ii) promptly cooperate with and furnish information to the other party hereto necessary in connection with any such requirements
imposed upon such other party in connection with the consummation of the transactions contemplated by this Agreement, and (iii) take all reasonable actions necessary to obtain (and shall cooperate with the other party hereto in obtaining) any
consent, approval, order or authorization of, or any registration, declaration or filing with, any Governmental Entity or other Person required to be obtained or made in connection with the taking of any action contemplated by this Agreement.

 6.6 Expenses. Whether or not the Merger is consummated, all costs and expenses incurred in connection with this Agreement and the
transactions contemplated hereby shall be paid by the party incurring such expense provided however, that if the Merger is consummated, all costs and expenses incurred by the Company in connection with this Agreement and the
transactions contemplated hereby shall be paid by the Stockholders and shall be deducted from the Closing Consideration. 
 6.7 Further
Assurances. On the terms and subject to the conditions set forth in this Agreement, each of the parties hereto shall use commercially reasonable efforts, and shall cooperate with each other party hereto, to take, or cause to be taken, all
actions, and to do, or cause to be done, all things reasonably necessary, reasonably appropriate or reasonably desirable to consummate and make effective, in the most expeditious manner practicable, the Merger and the other transactions contemplated
hereby. Notwithstanding the foregoing, none of the Buyer, the Company or the Stockholders shall be obligated to contest or litigate any proposed injunction or other order preventing the consummation of the Merger. Each party hereto, at the
reasonable request of any other party hereto, shall execute and deliver such other instruments and do and perform such other acts and things as may be reasonably necessary or reasonably desirable to the consummation of the Merger and the other
transactions contemplated hereby. In addition to the foregoing the Company and the Stockholders shall use commercially reasonable efforts to cause Michael Eleftheriou to remain employed by the Company until September 15, 2007 
 6.8 Cooperation on Tax Matters. Buyer, the Company and the Stockholders shall cooperate 

  

 29 

 
fully, as and to the extent reasonably requested by the other party, in connection with the filing of Tax Returns and any audit, litigation or other
proceeding with respect to Taxes. Such cooperation shall include the retention and (upon another party’s request) the provision of records and information which are reasonably relevant to any such Tax Return, audit, litigation or other
proceeding and making employees available on a mutually convenient basis to provide additional information and explanation of any material provided hereunder. The Company and the Stockholders agree (A) to retain all books and records with
respect to Tax matters pertinent to the Company relating to any taxable period beginning before the Closing Date until the expiration of the statute of limitations (and any extensions thereof) of the respective taxable periods, and to abide by all
record retention agreements entered into with any taxing authority, and (B) to give the other party reasonable written notice prior to transferring, destroying or discarding any such books and records and, if the other party so requests, to
allow the other party to take possession of such books and records. With respect to any and all tax matters set forth on Schedule 3.7(a), on and after the Closing, the Surviving Corporation and Buyer shall promptly confer and consult with the
Stockholders’ Representative, with respect to any potential liability exceeding $50,000, as to the status of the negotiations with respect to these matters. Buyer and Surviving Corporation agree to use their reasonable best efforts when working
with taxing authorities and other governmental entities to which the tax matters relate so as to minimize the amount of interest, penalties and taxes due. This covenant shall survive the closing. 
 In the case of any taxable period that includes (but does not end on) the Closing Date (a “Straddle Period”), the amount of any Taxes based on or
measured by income or receipts of the Company for the Pre-Closing Tax Period shall be determined based on an interim closing of the books as of the close of business on the Closing Date (and for such purpose, the taxable period of any partnership or
other pass-through entity in which the Company or any of its Subsidiaries holds a beneficial interest shall be deemed to terminate at such time) and the amount of other Taxes of the Company for a Straddle Period that relates to the Pre-Closing Tax
Period shall be deemed to be 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 ending on the Closing Date, and the denominator of which is the number of
days in such Straddle Period. 
 Buyer shall prepare or cause to be prepared and file or cause to be filed all Tax Returns for the Company
that are filed after the Closing Date other than income Tax Returns with respect to periods for which a consolidated, unitary or combined income Tax Return of Seller will include the operations of the Company. Buyer shall permit Sellers to review
and comment on each such Tax Return described in the preceding sentence prior to filing. 
 All transfer, documentary, sales, use, stamp,
registration and other such Taxes and fees (including any penalties and interest) incurred in connection with this Agreement shall be paid by the Stockholders when due, and the Stockholders shall, at their own expense, file all necessary Tax Returns
and other documentation with respect to all such transfer, documentary, sales, use, stamp, registration and other Taxes and fees, and, if required by applicable law, Buyer shall, and shall cause its affiliates to, join in the execution of any such
Tax Returns and other documentation. 
 ARTICLE VII 
 CONDITIONS TO THE MERGER 
 7.1 Conditions to Obligations of Each Party.
The respective obligations of each party hereto to consummate the transactions contemplated hereby shall be subject to the fulfillment or satisfaction, at or prior to the Closing, of each of the following conditions, any of which, to the extent
lawful, may be waived, in writing, by agreement of the parties hereto (it being understood that each such condition is solely for the benefit of the parties hereto and may be so waived in writing by their mutual agreement without notice, Liability
or obligation to any Person): 
 (a) No Injunctions or Restraints; Illegality. No temporary restraining order, 

  

 30 

 
preliminary or permanent injunction or other order issued by any court of competent jurisdiction or other legal or regulatory restraint or prohibition
preventing the consummation of the Merger shall be in effect, nor shall any proceeding seeking any of the foregoing be pending. No action taken by any Governmental Entity, and no statute, rule, regulation or order shall have been enacted, entered,
enforced or deemed applicable to the Merger, which makes the consummation of the Merger illegal. 
 (b) Governmental
Approvals. Buyer and the Company shall have timely obtained from each Governmental Entity all approvals, waivers and consents, if any, necessary for the consummation of, the Merger and the other transactions contemplated hereby. 
 (c) Company Stockholder Approval. The Company Stockholder Approval shall have been obtained. 
 (d) Certificate of Merger. At the Effective Time, the Certificate of Merger shall be accepted for filing with the Secretary of
State of the State of Delaware. 
 7.2 Additional Conditions to Obligations of the Company. The obligations of the Company to
consummate the transactions contemplated hereby shall be subject to the fulfillment or satisfaction, at or prior to the Closing, of the following conditions, each of which, to the extent lawful, may be waived, in writing, by the Company (it being
understood that such conditions are solely for the benefit of the Company and may be so waived in writing by the Company in its sole discretion without notice, Liability or obligation to any Person): 
 (a) Representations and Warranties. The representations and warranties of Buyer and Merger Subsidiary in this Agreement shall be
true and correct in all material respects (except for such representations and warranties that are qualified by their terms by a reference to materiality, which representations and warranties as so qualified shall be true and correct in all
respects) on and as of the date of this Agreement and on and as of the Closing Date as though such representations and warranties were made on and as of such date (except for representations and warranties which address matters only as to a
specified date, which representations and warranties shall be true and correct with respect to the specified date) and at the Closing the Company will have received a certificate to such effect executed by the Buyer’s President. 
 (b) Covenants. Buyer and Merger Subsidiary shall have performed and complied in all material respects with all covenants,
obligations and conditions of this Agreement required to be performed and complied with by it at or prior to the Closing and at the Closing the Company will have received a certificate to such effect executed by the Buyer’s President.

 7.3 Additional Conditions to Obligations of Buyer. The obligations of Buyer to consummate the transactions contemplated hereby
shall be subject to the fulfillment or satisfaction, at or prior to the Closing, of each of the following conditions, any of which may be waived, in writing, by Buyer (it being understood that each such condition is solely for the benefit of Buyer
and may be waived by Buyer in its sole discretion without notice, Liability or obligation to any Person): 
 (a)
Representations and Warranties. The representations and warranties of the Company and the Stockholders in this Agreement shall be true and correct in all material respects (except for such representations and warranties that are qualified by
their terms by a reference to materiality, which representations and warranties as so qualified shall be true and correct in all respects) on and as of the date of this Agreement and on and as of the Closing Date as though such representations and
warranties were made on and as of such date (except for representations and warranties which address matters only as to a specified date, which 

  

 31 

 
representations and warranties shall be true and correct with respect to the specified date), and at the Closing Buyer will have received a certificate to
such effect executed by the Company’s Chief Executive Officer. 
 (b) Covenants. The Company and each Stockholder
shall have performed and complied in all material respects with all covenants, obligations and conditions of this Agreement required to be performed and complied with by it at or prior to the Closing, and at the Closing Buyer will have received a
certificate to such effect executed by the Company’s Chief Executive Officer. 
 (c) Release of Encumbrances.
Buyer shall have received a release of any and all Encumbrances (other than Permitted Encumbrances) on the Company’s or any of its Subsidiaries’ assets. 
 (d) Change of Directors. The members of the board of directors of the Company in office immediately prior to the Effective Date
shall have resigned. 
 (e) Cancellation/Termination of Options. Buyer shall have received evidence that all
outstanding Options of the Company and any of its Subsidiaries have been fully exercised, cancelled or terminated in accordance with their terms. 
 (f) Delivery of Company Seal and Books & Records. Buyer shall have received the Company’s (and each of its Subsidiaries’) original corporate books and records and any company seals of the
Company (and its Subsidiaries). 
 (g) Material Adverse Effect. No Material Adverse Effect in relation to the Company
shall have occurred since the date of this Agreement. 
 (h) Dissenting Shares. There shall be no Dissenting Shares.

 (i) Termination of Certain Employees. Each of the Chief Executive Officer of the Company shall have been terminated
by the Company, and the Stockholders’ shall be responsible for a severance payment to be made to such employee from the Closing Consideration. 
 (j) Company Board Approval. The board of directors of the Company shall have approved the execution of this Agreement and the transactions contemplated hereby. 
 (k) Secretary Certificate. The Company shall have delivered to Buyer a certificate, dated the Closing Date, signed by the company
secretary of the Company in form reasonably acceptable to Buyer. 
 (l) Financial Statements. On the Closing Date, the
Stockholders shall deliver to the Buyer true and complete copies of the Audited Financial Statements and other financial statements contemplated to be delivered at the Closing pursuant to Section 2.7 hereof. 
 (m) Termination of Rights and Certain Securities. Any and all registration rights, rights of first refusal, rights of first offer,
co-sale, tag-along, drag-along, voting rights, rights to any liquidation preference or redemption rights, or any similar rights relating to the Company Stock or any of the Company’s or any Subsidiary’s capital, will either be fully
terminated, satisfied or irrevocably waived as of the Closing Date. 
 (n) Third Party Consents. The Buyer shall have
received copies of the consents to the change of control of the Company from each third party contract requiring such consent. 
  

 32 

 (o) Surrender of Certificates and Customary Letter of Transmittal. At the Closing,
the Buyer shall receive the documents required to be received by it in accordance with Section 2.2(d) hereto, including, but not limited to, a standard letter of transmittal. 
 (p) Legal Opinion. The Buyer shall have a received a legal opinion substantially in the form of Exhibit B. 
 (q) United Kingdom Premises Lease. The Company shall have terminated the real property lease covering the premises occupied by the
Company in the United Kingdom. 
 ARTICLE VIII 
 TERMINATION 
 8.1 Termination by Mutual Consent. This Agreement may be terminated at any time
prior to the Closing by the mutual written consent of Buyer and the Company. 
 8.2 Unilateral Termination. 
 (a) Either Buyer, on the one hand, or the Company, on the other hand, by giving written notice to the other, may terminate this Agreement
if a court of competent jurisdiction or other Governmental Entity shall have issued an injunction, order, decree or ruling or taken any other action to restrain, enjoin, make illegal or otherwise prohibit the Merger. 
 (b) Either Buyer, on the one hand, or the Company, on the other hand, by giving written notice to the other, may terminate this Agreement
if the Merger shall not have been consummated by midnight Pacific Time on September 15, 2007; provided, however, that the right to terminate this Agreement pursuant to this Section 8.2(b) shall not be available to any party
whose failure to perform in any material respect any of its obligations or covenants under this Agreement results in the failure of any condition set forth in Article VII or if the failure of such condition results from facts or circumstances that
constitute a material breach of a representation or warranty or covenant made under this Agreement by such party. 
 (c)
Either Buyer, on the one hand, or the Company, on the other hand, by giving written notice to the other, may terminate this Agreement at any time prior to the Closing if the other has committed a material breach of (i) any of such party’s
representations and warranties contained in this Agreement or (ii) any of such party’s covenants contained in this Agreement, and has not cured such material breach within twenty days after the party seeking to terminate this Agreement has
given the other party written notice of the material breach and its intention to terminate this Agreement pursuant to this Section 8.2(c). 
 8.3 No Liability for Termination. Termination of this Agreement by a party (the “Terminating Party”) in accordance with the provisions of this Article VIII will not give rise to any Liability on the part of
the Terminating Party on account of such termination; provided, however, that nothing herein shall relieve a party from liability for a willful breach of this Agreement. The provisions of this Article VIII and Article IX shall survive
any termination of this Agreement. 
  

 33 

 ARTICLE IX 
 INDEMNIFICATION 
 9.1 Survival of Representations. The representations and warranties of the
Company and Buyer contained in this Agreement (including the Exhibits to this Agreement) shall survive the Closing and shall remain operative and in full force and effect, from the Closing Date until the end of the Holdback Period (the
“Release Date”); provided, however, that such expiration shall not affect claims of fraud, willful misrepresentation, willful misconduct or any criminal activity. 
 9.2 Indemnification. 
 (a) (i) By the Stockholders. Subject to the limitations set forth in this Article IX, from and after the Closing, by virtue of the Merger, the Stockholders shall jointly and severally, to the extent of their interest in the
Holdback and not personally, indemnify and hold harmless Buyer, the Merger Subsidiary, the Company and the Surviving Corporation and its directors, officers and agents (each of the foregoing being referred to individually as an
“Indemnified Buyer Party” and collectively as “Indemnified Buyer Parties”) from and against any and all Losses, Liabilities, damages, costs and expenses, including reasonable costs of investigation and
defense, reasonable legal fees and expenses and other professionals’ and experts’ reasonable fees and reasonable expenses (collectively, “Damages”) arising from assessments, claims, demands, assertions of liability
or actual or threatened actions, suits or proceedings (whether civil, criminal, administrative or investigative) directly or indirectly incurred, paid or accrued in connection with, resulting from or arising out of (i) any breach of any
representation or warranty made by the Company and/or any of the Stockholders in this Agreement (and the Schedules and Exhibits to this Agreement), (ii) any breach of or default in connection with any of the covenants or agreements made by the
Company and/or any Stockholders in this Agreement, (iii) any of the matters set forth on Schedule 3.5 of the Company Disclosure Letter, (iv) any Liability of the Business not set forth on the Company Balance Sheet,
(v) any suit, action, claim or Loss by any holder of any Options, and/or (vi) any suit, action, proceeding, claim or Loss resulting from an action initiated by any State of the United States of America for unpaid sales tax on all
software license, service and maintenance sells conducted by the Company prior to the Closing. 
 (ii) By the Buyer and Merger
Subsidiary. Subject to the limitations set forth in this Article IX, from and after the Closing, by virtue of the Merger, the Buyer and the Surviving Corporation shall jointly and severally indemnify and hold harmless the Stockholders (the
“Indemnified Seller Party” “Indemnified Seller Parties”) from and against any and all Losses, Liabilities and Damages arising from assessments, claims, demands, assertions of liability or actual or threatened
actions, suits or proceedings (whether civil, criminal, administrative or investigative) directly or indirectly incurred, paid or accrued in connection with, resulting from or arising out of (i) any breach of any representation or warranty made
by the Buyer and/or Merger Subsidiary in this Agreement (and the Schedules and Exhibits to this Agreement) and (ii) any breach of or default in connection with any of the covenants or agreements made by the Buyer and/or Merger Subsidiary in
this Agreement. 
 (b) Limitations. In no event shall the Stockholders’ or the Company’s obligations pursuant
to this Article IX exceed the Holdback Consideration with respect to all Indemnified Buyer Party claims for indemnification for damages (the “Indemnification Cap”) provided, however, that the Indemnification Cap
shall not apply to claims of fraud, willful misrepresentation, willful misconduct or any criminal activity. 
 (c)
Exclusive Remedy. The indemnification remedies provided in this Article IX shall not create any personal liability for the Stockholders, other than to the extent of their interest in the Holdback and shall constitute the sole and exclusive
remedy of the parties for any claim in 

  

 34 

 
connection with this Agreement or any other transaction documents, including any claim for any Damages resulting from a breach of any party of any
representation, warranty, covenant or agreement. 
 9.3 Claims Period. The period during which claims of an Indemnified Buyer Party
for indemnification pursuant to this Agreement may be initiated (the “Claims Period”), shall commence at the Closing and terminate on the Release Date. 
 9.4 Resolution of Objections to Claims. 
 (a) Any Person who desires to seek indemnification under any part of this Article IX (each, an “Indemnified Party”) shall give written notice in reasonable detail (a “Indemnification
Claim Notice”) to the party responsible or alleged to be responsible for indemnification hereunder (an “Indemnitor”) prior to the end of any applicable Claims Period. Such notice shall briefly explain the nature
of the claim and the parties known to be involved, and shall specify the amount thereof. If the matter to which a claim relates shall not have been resolved as of the date of the Indemnification Claim Notice, the Indemnified Party shall estimate the
amount of the claim in the Indemnification Claim Notice. Each Indemnitor to which an Indemnification Claim Notice is given shall respond to any Indemnified Party that has given a Indemnification Claim Notice (a “Claim Response”)
within fifteen (15) days (the “Response Period”) after the date that the Indemnification Claim Notice is given. Any Claim Response shall specify whether or not the Indemnitor giving the Claim Response disputes
the claim described in the Indemnification Claim Notice. If any Indemnitor fails to give a Claim Response within the Response Period, such Indemnitor shall be deemed not to dispute the claim described in the related Indemnification Claim Notice. If
any Indemnitor elects not to dispute a claim described in an Indemnification Claim Notice, whether by failing to give a timely Claim Response in accordance with the terms hereof or otherwise, then the amount of such claim shall be conclusively
deemed to be an obligation of such Indemnitor. 
 (b) If, during the Response Period, an Indemnified Party receives a Claim
Response from the Indemnitor, then for a period of twenty (20) days (the “Resolution Period”) after the Indemnified Party’s receipt of such Claim Response, the Indemnified Party and the Indemnitor shall endeavor to
resolve any dispute arising therefrom. If such dispute is resolved by the parties during the Resolution Period, the amount that the parties have specified in writing as the amount to be paid by the Indemnitor, if any, as settlement for such dispute
shall be conclusively deemed to be an obligation of such Indemnitor. If the parties are unable agree upon a resolution to such dispute prior to the expiration of the Resolution Period (or any extension thereto to which the Indemnitor and Indemnified
Party agree in writing), the issue shall be presented to the AAA for determination. The arbitration shall be before a panel of three arbitrators, one selected by Buyer, one selected by the Stockholders’ Representative and one selected by
the two selected arbitrators, and the commercial arbitration rules of the AAA shall govern such arbitration. The written determination of the AAA shall be binding upon the parties and not subject to any appeal. 
 9.5 Third-Party Claims. An Indemnified Party that desires to seek indemnification under any part of this Article IX with respect to any actions,
suits or other administrative or judicial proceedings (each, an “Action”) that may be instituted by a third party shall give each Indemnitor notice after having knowledge of such Action, of a third party’s institution of
such Action, and copies of all documents and information relating to such Action after receipt thereof. After such notice, any Indemnitor may, at its sole option and expense, participate in such Action or assume the defense thereof, with counsel of
its own choice. The Indemnified Party shall not consent to the entry of any judgment or enter into any settlement, except with the written consent of the Indemnitor. Any failure to give notice under this Section 9.5 shall not bar an 

  

 35 

 
Indemnified Party’s right to claim indemnification under this Article IX, except to the extent that an Indemnitor shall have been harmed by such
failure. If a firm written offer is made to settle any such Action, the Indemnitor proposes to accept such settlement and the Indemnified Party refuses to consent to such settlement, then: (i) the Indemnitor shall be excused from, and the
Indemnified Party shall be solely responsible for, all further defense of such Action, and (ii) provided that only monetary damages may be recovered in such Action (and the Indemnified Party is not subject to any injunctive relief, equitable or
other non-monetary relief in connection with such Action), the maximum liability of the Indemnitor relating to such Action shall be the amount of the proposed settlement if the actual monetary amount thereafter recovered from the Indemnified Party
on such Action is greater. 
 9.6 Stockholders’ Representative. 
 (a) Upon approval of the Merger and this Agreement by the Stockholders, each Stockholder will be deemed to have irrevocably appointed
ComVest Investment Partners II LLC, as its, his or her true and lawful attorney-in-fact and agent (the “Stockholders’ Representative”), each with full power of substitution or resubstitution, to act solely and
exclusively on behalf of such Stockholder with respect to the transactions contemplated by this Agreement, including the Merger, and to act on behalf of such Stockholder in any litigation or arbitration involving this Agreement, to do or refrain
from doing all such further acts and things, and to execute all such documents as the Stockholders’ Representative shall deem necessary or appropriate in connection with the transactions contemplated hereby, including the power: 
 (i) to act for such Stockholder with regard to matters pertaining to indemnification referred to in this Agreement, including the power to compromise any
indemnity claim on behalf of such Stockholder; 
 (ii) to act for such Stockholder with regard to matters pertaining to litigation;

 (iii) to execute and deliver all documents in connection with the transactions contemplated hereby or amendments thereto that the
Stockholders’ Representative deems necessary or appropriate; 
 (iv) to receive funds, make payments of funds, and give receipts for
funds; 
 (v) to receive funds for the payment of expenses of such Stockholder and apply such funds in payment for such expenses;

 (vi) to do or refrain from doing any further act or deed on behalf of such Stockholder that the Stockholders’ Representative deems
necessary or appropriate in his sole discretion relating to the subject matter of this Agreement as fully and completely as such Stockholder could do if personally present; and 
 (vii) to receive service of process in connection with any claims under this Agreement. 
 (b) The appointment of the Stockholders’ Representative shall be deemed coupled with an interest and shall be irrevocable, and Buyer,
Merger Subsidiary and Surviving Corporation and any other person may conclusively and absolutely rely, without inquiry, upon any action of the Stockholders’ Representative in all matters referred to herein. Any notices required to be made or
delivered to the Company or any of the Stockholders shall be made to the Stockholders’ Representative and shall discharge in full all notice requirements, as applicable, to such 

  

 36 

 
Stockholder and/or the Company with respect thereto. By their appointment of the Stockholders’ Representative, the Stockholders thereby confirm all that
the Stockholders’ Representative shall do or cause to be done by virtue of his appointment as the representatives of the Stockholders hereunder. The Stockholders’ Representative shall act for the Stockholders on all of the matters set
forth in this Agreement in the manner the Stockholders’ Representative believes to be in the best interest of the Stockholders and consistent with the obligations of the Stockholders under this Agreement, but the Stockholders’
Representative shall not be responsible to any Stockholder for any damages which the Stockholders may suffer by the performance of the Stockholders’ Representative’s duties under this Agreement, other than damages arising from willful
violation of applicable law or gross negligence in the performance of such duties under this Agreement. The Stockholders’ Representative shall not have any duties or responsibilities except those expressly set forth in this Agreement, and no
implied covenants, functions, responsibilities, duties or liabilities shall be read into this Agreement or shall otherwise exist against the Stockholders’ Representative. 
 ARTICLE X 
 GENERAL PROVISIONS 
 10.1 Governing Law; Dispute Resolution; Waiver of Jury Trial. This Agreement shall be governed by, and construed in accordance with, the laws of
the State of Delaware applicable to contracts executed in and to be performed in that state and without regard to any applicable conflicts of law. Except as otherwise provided in Sections 2.7, 2.8 and 9.4, any dispute directly or indirectly based
upon, arising out of, connected to or relating to this Agreement, the transactions contemplated hereby or any right or obligation created hereby, irrespective of the legal theory or claims underlying any such dispute (including any tort and
statutory claims), shall be resolved in any court of competent jurisdiction located in the County of New Castle, Delaware. Each of the parties to this Agreement hereby irrevocably (a) consents to submit itself to the personal jurisdiction of
any state or federal court located in the State of Delaware in the event any dispute arises out of this Agreement or any of the transactions contemplated hereby, (b) agrees that it will not attempt to deny or defeat such personal jurisdiction
by motion or other request for leave from any such court, including a motion for forum of non conveniens or other actions or other motions asserting the aforementioned forum is inconvenient, and (c) agrees that it will not bring any action in
relation of this Agreement or any of the other transactions contemplated hereby in any court other than a state or federal court located in the State of Delaware. Each party acknowledges and agrees that any controversy which may arise under this
Agreement is likely to involve complicated and difficult issues, and therefore EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ISSUE WITHIN ANY ACTION AT LAW OR SUIT IN
EQUITY DIRECTLY OR INDIRECTLY BASED UPON, ARISING OUT OF, CONNECTED TO OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, OR ANY RIGHT OR OBLIGATION CREATED HEREBY. 
 10.2 Notices. All notices and other communications required or Permitted under this Agreement will be in writing and will be either hand delivered
in person, sent by facsimile, sent by certified or registered first-class mail, postage pre-paid, or sent by nationally recognized express courier service. Such notices and other communications will be effective upon receipt if hand delivered or
sent by facsimile, five days after mailing if sent by mail, and one day after dispatch if sent by express courier, to the following addresses, or such other addresses as any party may notify the other parties in writing in accordance with this
Section 10.2. 
  

 37 

	 	(i)	if to Buyer: 

 Two Concourse Parkway 
 Suite 800 
 Atlanta, Georgia 30328

 Attn: Eric Musser 
 With a
copy to: 
 Two Concourse Parkway 
 Suite 800 
 Atlanta, Georgia 30328 
 Attn: Verome Johnston 
  

	 	(ii)	if to the Stockholders’ Representative: 

 ComVest
Partners II LLC 
 One North Clematis Street 
 Suite 300 
 West Palm Beach, FL 33401 
 Attn: Inder Tallur 
 10.3 Interpretation;
Rules of Construction. When a reference is made in this Agreement to Articles, Sections or Exhibits, such reference shall be to an Article or Section of, or an Exhibit to, this Agreement unless otherwise indicated. The words “include,”
“includes” and “including” when used herein shall be deemed in each case to be followed by the words “without limitation.” Unless the context of this Agreement otherwise requires: (i) words of any gender include
each other gender; (ii) words using the singular or plural number also include the plural or singular number, respectively; and (iii) the terms “hereof,” “herein,” “hereunder” and derivative or similar words
refer to this entire Agreement. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. The parties hereto have been represented by counsel during the
negotiation, preparation and execution of this Agreement and, therefore, hereby waive, with respect to this Agreement and each Exhibit attached hereto, the application of any law, regulation, holding or rule of construction providing that
ambiguities in an agreement or other document shall be construed against the party drafting such agreement or document. Each reference herein to a law, statute, regulation, document or agreement will be deemed in each case to include all amendments
thereto. 
 10.4 Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by
any rule of law or public policy, all other conditions and provisions of this Agreement will nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any
manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto will negotiate in good faith to modify this Agreement so as to effect the
original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible. 
 10.5 Entire Agreement; Parties in Interest. This Agreement and the documents and instruments and other agreements specifically referred to herein
or delivered pursuant hereto, including all the Exhibits attached hereto and the Company Disclosure Letter, (i) constitute the entire agreement among the parties hereto with respect to the subject matter hereof and supersede all prior
agreements and understandings, both written and oral, among the parties hereto with respect to the subject matter hereof and (ii) are not intended to confer, and shall not be construed as conferring, upon any Person other than the parties
hereto any rights or remedies hereunder unless specifically provided otherwise herein. The express terms of this Agreement control and supersede any course of performance or usage of the trade inconsistent with any of the terms hereof. 

 

 38 

 10.6 Assignment. Neither this Agreement nor any of the rights, interests or obligations under this
Agreement may be assigned or delegated, in whole or in part, by operation of law or otherwise by any of the parties hereto without the prior written consent of the other parties hereto, and any such assignment without such prior written consent
shall be null and void, except that Buyer may assign this Agreement to any direct or indirect wholly owned subsidiary of Buyer without the Company’s prior consent; provided, however, that Buyer shall remain liable for all of its
obligations under this Agreement. Subject to the preceding sentence, this Agreement shall be binding upon, inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns. 
 10.7 Amendment; Extension; Waiver. Subject to the provisions of applicable law, the parties hereto may amend this Agreement at any time pursuant
to an instrument in writing signed on behalf of each of the parties hereto. At any time, either Buyer or the Company may, to the extent legally allowed, (i) extend the time for the performance of any of the obligations or other acts of the
other party hereto, (ii) waive any inaccuracies in the representations and warranties made to such party contained herein or in any document delivered pursuant hereto, and (iii) waive compliance with any of the agreements or conditions for
the benefit of such party contained herein. Any agreement on the part of a party hereto to any such extension or waiver shall be valid only if set forth in an instrument in writing signed on behalf of such party. Without limiting the generality or
effect of the preceding sentence, no delay in exercising any right under this Agreement shall constitute a waiver of such right, and no waiver of any breach or default shall be deemed a waiver of any other breach or default of the same or any other
provision in this Agreement. 
 10.8 No Joint Venture. Nothing contained in this Agreement will be deemed or construed as creating a
joint venture or partnership between any of the parties hereto. No party is by virtue of this Agreement authorized as an agent, employee or legal representative of any other party. No party will have the power to control the activities and
operations of any other, and their status is, and at all times will continue to be, that of independent contractors with respect to each other. No party will have any power or authority to bind or commit any other party. No party will hold itself
out as having any authority or relationship in contravention of this Section 10.8. 
 10.9 Counterparts; Facsimile. This
Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original, and all of which together shall constitute one and the same agreement. This Agreement may be executed and delivered by
facsimile and upon such delivery the facsimile signature will be deemed to have the same effect as if the original signature had been delivered to the other parties. 
 [Signature Page Follows] 
  

 39 

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

			
	COMPANY:
	
	CATALYST INTERNATIONAL, INC.
		
	By:	 	 /s/ Michael Eleftheriou

	Name:	 	Michael Eleftheriou
	Title:	 	President & CEO
	
	MERGER SUBSIDIARY:
	
	C I ACQUISITION CORPORATION
		
	By:	 	 /s/ Eric Musser

	Name:	 	Eric Musser
	Title:	 	President
	
	BUYER:
	
	CDC SOFTWARE CORPORATION
		
	By:	 	 /s/ Eric Musser

	Name:	 	Eric Musser
	Title:	 	President and Chief Executive Officer
	
	STOCKHOLDERS
	
	COMVEST INVESTMENT PARTNERS II LLC
		
	By:	 	 /s/ Inder Tallur

	Name:	 	Inder Tallur
	Title:	 	Partner
	
	CLYS HOLDINGS, LLC
		
	By:	 	 /s/ Michael T. Davies

	Name:	 	Michael T. Davies
	Title:	 	Secretary & Treasurer
		
		 	 /s/ Terrance L. Mealy

	Name:	 	TERRANCE L. MEALY

 CDC/Catalyst – Merger Agreement 

			
		 	 /s/ Peter Kight

	Name:	 	PETER KIGHT
		
		 	 /s/ William G. Nelson

	Name:	 	WILLIAM G. NELSON
		
		 	 /s/ John Gorman

	Name:	 	JOHN GORMAN
		
		 	 /s/ Nigel Davies

	Name:	 	NIGEL DAVIES
		
		 	 /s/ S. Michael Godshall    9/4/07

	Name:	 	S. MICHAEL GODSHALL

 Merger Agreement Signature Pages 
 CDC/Catalyst – Merger Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}]]