Document:

Form of Non-Qualified Stock Option Agreement

 Exhibit 10.5 
 Participant Name 
 Non-Qualified Stock Option Grant Agreement 

This Non-Qualified Stock Option Grant Agreement (the “Agreement”) is dated as of this
             of             , 20             and sets forth the terms
and conditions of the Award described below made by Heidrick & Struggles International, Inc. (the “Company”) to              (the “Participant”), pursuant to
the 2007 Heidrick & Struggles GlobalShare Program (the “Program”). 
 As of
            , 20             (the “Grant Date”), the Company has granted an option (the “Option”) to purchase
             shares of the Company’s common stock, par value $.01 (the “Shares”), at $             per
Share (the “Option Price”). This Option is granted pursuant to the Program and is governed by the terms and conditions of the Program. All defined terms used herein, unless specifically defined in this Agreement, have the meanings
assigned to them in the Program. The Participant agrees to be bound by all terms and conditions of the Agreement and the Program and has received and reviewed a copy of the Program and the Prospectus for the Program dated November 16, 2007.

 The Option granted under this Agreement shall not become valid or enforceable unless and until the Participant executes the
Agreement and it is accepted by the Company. By the Participant’s signature and the Company’s signature below, the Participant and the Company agree that this constitutes the signature page of the Agreement. Participant further agrees that
the Option is granted under and governed by the terms and conditions of the Agreement and the Program. Agreements that are not signed and returned are considered null and void. 
 IN WITNESS WHEREOF, the parties hereto have duly executed the Agreement as of the date first set forth above. 
  

	
	
	  
	Name:         Participant Name

 Heidrick & Struggles International, Inc. 
 By:
                                         
                
 Name: 

Title: General Counsel 

 NOW, THEREFORE, in consideration of the agreements of the Participant herein provided and
pursuant to the Program, the parties agree as follows: 
 1. Definitions. All capitalized terms used herein, unless
specifically defined herein, shall have the same meanings as established in the Program. 
 “Cause” means (a) the
willful and continued failure by the Participant to substantially perform his or her duties and obligations to the Company (other than any such failure resulting from any physical or mental condition, whether or not such condition constitutes a
Disability) or (b) the willful engaging by the Participant in misconduct that is materially injurious to the Company, monetarily or otherwise. 
 “Disability” means (a) a physical or mental condition entitling the Company to terminate the Participant’s employment pursuant to an employment agreement between the Participant and
the Company or (b) in the absence of such a provision, a physical or mental incapacity of a Participant which would entitle the Participant to benefits under the long term disability plan maintained by the Company for its U.S. employees
(regardless of whether the Participant is actually covered by such plan). 
 “Good Reason” means, without a
Participant’s express written consent, the occurrence of any of the following events: 
 (a) a material diminution in the
duties or responsibilities of the Participant ; 
 (b) a material reduction by the Company of the Participant’s base salary
or annual bonus opportunity; 
 (c) the failure by the Company to pay the Participant his or her current compensation, or any
compensation deferred under any plan, agreement or arrangement of or with the Company when such compensation is due; or 
 (d) a
change in the Participant’s principal work location to a location that is more than 50 miles from the Participant’s principal work location immediately prior to such change. 
 A Participant must deliver notice to the Company no later than 90 days following the occurrence of the circumstance that constitutes Good Reason. The Company shall be provided a 30-day period following
the receipt of such notice to cure the circumstances that give rise to Good Reason. If, during the cure period, such circumstance is remedied, the Participant will not be permitted to terminate employment for Good Reason as a result of such
circumstance. If, at the end of the cure period, the circumstance that constitutes Good Reason has not been remedied, the Participant will be entitled to terminate employment for Good Reason during the 30-day period that follows the end of the cure
period. If the Participant does not terminate employment during such 30-day period, the Participant will not be permitted to terminate employment for Good Reason as a result of such event. 

2. Participation. Pursuant to the Program and contingent upon the execution of the Agreement, the Company hereby grants to the
Participant an Option to purchase             Shares at $            per Share subject to the terms and conditions
herein. As a material condition and 

  
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inducement to the Company’s grant of the Option to the Participant, the Participant agrees that he or she has received and reviewed the Program and further agrees to be bound by all of the
terms and conditions of the Agreement and the Program, as may be amended by the Company from time to time. 
 3. Vesting and
Exercisability of Options. 
  

	 	a.	Subject to Sections 3(b), (c) and (d) below and Section 4, the Option granted under the Agreement shall vest in accordance with the schedule set forth
below; provided the Participant has been in Continuous Service through each vesting date. For purposes of the Agreement, “Continuous Service” shall mean the Participant’s service with the Company or any Subsidiary or Affiliate as an
employee, or the Participant’s service as a member of the Board of Directors of the Company, has not been interrupted or terminated, and shall include any period during which the Participant is on an approved leave of absence from the Company
or its Subsidiaries or Affiliates. 

  

			
	 Vesting Date
	  	Option Vesting

 
 The Participant may exercise the Option with respect to the number
of Shares that have vested, provided that the Option shall terminate at the close of business on             ,
20            (the “Option Termination Date”). The Option may be exercised in whole or in part, but only with respect to full Shares, and shall be void and of no effect after
the Option Termination Date, unless cancelled earlier pursuant to Section 3 (c) or (d) below. 
  

	 	b.	If the Participant’s Continuous Service is terminated as a result of the Participant’s death or Disability, the Option shall immediately vest. The
Participant’s estate or designated beneficiary shall be entitled to exercise the outstanding Option until the earlier of 180 days following the termination of such Continuous Service or the Option Termination Date. 

 

	 	c.	If the Participant’s Continuous Service is terminated for Cause, the outstanding Option shall be cancelled to the extent not previously exercised and all rights
hereunder and under the Program shall terminate on the date of such termination of Continuous Service. 

  

	 	d.	 If the Participant’s Continuous Service is terminated for any reason other than those specifically described in this Section 3 or
Section 4, the Participant’s Option shall terminate immediately to the extent not yet exercisable pursuant to Section 3 hereof, and the Participant shall be entitled to exercise the outstanding Option until the earlier of 60 days

  
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following such termination of Continuous Service or the Option Termination Date. 

  

	 	e.	In the case of a Participant who is both an employee of the Company or any Subsidiary or Affiliate and a member of the Board of Directors of the Company, Continuous
Service shall not end until the Participant’s service as both an employee and a director terminates. 

  

	 	f.	The foregoing provisions of this Section 3 shall be subject to the provisions of any Company plan or written employment, severance or similar agreement that has
been or may be executed by the Participant and the Company, and the provisions in such agreement concerning the vesting and exercise of the Option in connection with the Participant’s termination of Continuous Service shall supercede any
inconsistent or contrary provision of this Section 3. 

 4. Change-in-Control. 

 

	 	a.	Unless the Committee determines otherwise, upon the occurrence of a Change in Control, if the Option is Assumed (as defined below) by the entity effecting the Change in
Control (or a successor or parent corporation), the Option will vest as provided in Section 3(a) or, if earlier, will become fully vested upon the termination of the Participant’s employment during the two-year period beginning on the date
of a Change in Control, if such termination is due to: (i) a termination by the Company without Cause or (ii) a voluntary termination by the Participant due to the existence of Good Reason. Any Options that were or became vested on the
date of such termination of employment shall be exercisable until the earlier of six (6) months following the Participant’s termination of employment and the expiration date of the Option. 

 

	 	b.	Unless the Committee determines otherwise, upon the occurrence of a Change in Control, if the Option is not Assumed by the entity effecting the Change in Control (or a
successor or parent corporation), the Option will become fully vested on the date of the Change in Control. For each Option covered by this Award Agreement which then has not otherwise expired, the Participant will receive a payment equal to the
excess, if any, of the consideration (consisting of cash or other property (including securities of a successor or parent corporation)) which holders of Company Shares received (or will receive) in the Change-in-Control transaction over the exercise
price specified in this Agreement. Such payment shall be made in the same form as such consideration and at such date(s) as specified by the Committee. 

 For purposes of this Agreement, an Option will be considered assumed (“Assumed”) if the following conditions are met: (1) Options are converted into a replacement award in a manner that
complies with Section 409A of the Internal Revenue Code of 1986, as amended; (2) the 

  
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replacement award contains provisions for scheduled vesting and treatment on termination of employment (including the definition of Cause and Good Reason) that are no less favorable to the
Participant than those in this Agreement, and all other terms of the replacement award (other than the security and number of shares represented by the replacement award) are substantially similar to those of this Agreement; and (3) the
security represented by the replacement award is of a class that is publicly held and widely traded on an established stock exchange. 
 5. Exercise of the Option. Written notice of an election to exercise any portion of the Option shall be given by the Participant, or his or her personal representative in the event of the
Participant’s death, in accordance with procedures established by the Committee. At the time of exercise, payment of the purchase price for the Shares with respect to which the Option is being exercised must be made by (a) a cash payment,
(b) in cash received from the broker-dealer to whom the Participant has submitted an exercise notice and irrevocable instructions to deliver the purchase price to the Company from the proceeds of the sale of Shares subject to the Option,
(c) by having Shares withheld by the Company from any Shares that would otherwise be received upon exercise of the Option, or (d) by any other method approved by the Committee. 

6. Tax Withholdings and Payments. 
  

	 	a.	The Company or any Subsidiary or Affiliate is authorized to withhold from any payment to be made to the Participant, amounts of income tax withholding and other taxes
due in connection with the exercise of the Option. The Participant shall hold the Company harmless for any damages caused by his or her failure to so comply and for any other damages caused by his or her actions or inactions.

  

	 	b.	The Participant may pay such withholding taxes in any method specified in Section 5 above. If the Participant does not satisfy the withholding obligation within a
reasonable time established by the Committee, the Participant’s withholding obligation shall be satisfied by the Company’s withholding of Shares from the Shares that would otherwise be received upon exercise of the Option.

 7. Delivery of Shares to the Participant. As soon as practicable after the Participant’s payment of
the Option exercise price and withholding taxes, the custodian appointed by the Committee from time to time (the “Custodian”) shall, without transfer or issue tax or other incidental expense to the Participant, deliver to the Participant
by first-class insured mail addressed to the Participant at the address shown on page 1 or the last address of record on file with the Custodian, or direct deposit, if applicable, (a) a statement from the Custodian referencing the number of
Shares held in the Participant’s name in book entry account, or (b) at the Participant’s request, certificate(s) for the number of Shares as to which the Option has been exercised, and/or (c) the proceeds of the sale of Shares in
excess of the option exercise price and withholding tax obligation. 

  
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 8. Characteristics of Options. 

 

	 	a.	Options are not Shares and the grant of Options shall provide only those rights expressly set forth in the Agreement and the Program. The Participant is not deemed to
be a stockholder in the Company or have any of the rights of a stockholder in the Company until he or she acquires Shares upon exercise of the Option. 

  

	 	b.	The Participant does not have voting rights or any other rights inherent to the ownership of Shares, including the rights to dividends, or other liquidating or
non-liquidating distributions, by virtue of being granted the Option. 

  

	 	c.	The Option shall, during the Participant’s lifetime, be exercisable only by the Participant, and neither it nor any right hereunder or under the Program shall be
transferable otherwise than by will or the laws of descent and distribution, or be subject to attachment, execution or other similar process; provided, however, that to the extent permitted by applicable law, the Participant may designate a
beneficiary pursuant to procedures which may be established by the Committee. In the event of any attempt by the Participant to alienate, assign, pledge, hypothecate or otherwise dispose of the Option or of any right hereunder or under the Program,
except as provided for in the Program, or in the event of any levy or any attachment, execution or similar process upon the rights or interest conferred by the Option, the Company may terminate the Option by notice to the Participant and the Option
shall thereupon be cancelled. Any person or persons to whom the Participant’s rights under the Option have passed by will or by the applicable laws of descent and distribution shall be subject to all the terms and conditions of the Program and
the Agreement applicable to the Participant. 

 9. Compensation Recovery. The Option will be subject to any
clawback policy developed by the Board of Directors or Human Resources and Compensation Committee that is consistent with applicable law. 
 10. Miscellaneous. 
  

	 	a.	 The granting of an Award under the Program and the Agreement shall impose no obligation on the Company or any Subsidiary or Affiliate to continue the
employment relationship or any other relationship between it and the Participant and shall not lessen or affect the Company’s, Subsidiary’s or Affiliate’s right to terminate its relationship with the Participant. The Participant shall
have no claim to be granted any further or other Award under the Program, and there is no obligation for uniformity of treatment of the Participants. The Participant acknowledges and agrees that: (i) the Program is established voluntarily by
the Company, it is discretionary in nature and it may be modified, amended, suspended 

  
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or terminated by the Company at any time; (ii) the grant of an Option is voluntary and occasional and does not create any contractual or other right to receive future grants of Options,
or benefits in lieu of an Option, even if Options have been granted repeatedly in the past; (iii) all decisions with respect to future Option grants, if any, will be at the sole discretion of the Company; (iv) participation in the Program
is voluntary; (v) the Options are not a part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses,
long-service awards, pension or retirement benefits or similar payments; (vi) the future value of the underlying shares is unknown and cannot be predicted with certainty; and (vii) in consideration of the grant of an Option, no claim or
entitlement to compensation or damages shall arise from termination of the Option or diminution in value of the Option including (without limitation) any claim or entitlement resulting from termination of the Participant’s active employment by
the Company or a Subsidiary or Affiliate (for any reason whatsoever and whether or not in breach of local labor laws) and the Participant hereby releases the Company and its Subsidiaries and Affiliates from any such claim that may arise; if,
notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Agreement, the Participant shall be deemed irrevocably to have waived the Participant’s entitlement to pursue such
claim. 

  

	 	b.	The Agreement shall, subject the terms hereof, terminate upon the forfeiture and/or exercise of the entire Option granted to the Participant hereunder, unless otherwise
agreed upon by the parties hereto. 

  

	 	c.	The Agreement may be amended by the written agreement of the Company and the Participant. Notwithstanding the foregoing, (i) the Company may amend, alter or
discontinue the Agreement, without the consent of the Participant so long as such amendment, alteration or discontinuance would not impair any of the rights or obligations under any Award theretofore granted to the Participant under the Program; and
(ii) the Committee may amend the Agreement in such manner as it deems necessary to permit the granting of Awards meeting the requirements of the Code or other applicable laws. 

 

	 	d.	 The parties agree that the Agreement shall be governed by and interpreted and construed in accordance with the laws of the United States and, in
particular, those of the State of Illinois without regard to its conflict of law principles, as Illinois is the situs of the principal corporate office of the Company. Furthermore, to the extent not prohibited under applicable law, and unless the
Company affirmatively elects in writing to allow the proceeding to be brought (or itself brings such a proceeding) in a different venue, the parties agree that any suit, action or proceeding with respect to the Program, the Option or the Agreement
shall be brought in the state 

  
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courts in Chicago, Illinois or in the U.S. District Court for the Northern District of Illinois. The parties hereby accept the exclusive jurisdiction of those courts for the purpose of any such
suit, action or proceeding. Venue for any such action, in addition to any other venue required or otherwise mandated by statute, will be in Chicago, Illinois. Each party further agrees to waive any applicable right to a jury trial, and expressly
elects to have the matter heard as a bench trial. 

  

	 	e.	Unless waived by the Company, any notice to the Company required under or relating to the Agreement shall be in writing and addressed to: 

General Counsel 
 Heidrick & Struggles International, Inc. 
 233 South
Wacker Drive 
 Suite 4200 

Chicago, IL 60606-6303 
 11. Program Governs. All terms and conditions of the Program are incorporated herein and made part hereof as if stated herein. If there is any conflict between the terms and conditions of the
Program and the Agreement, the terms and conditions of the Program, as interpreted by the Committee, shall govern. 
 12.
Data Privacy. By signing below, the Participant voluntarily acknowledges and consents to the collection, use, processing and transfer of personal data as described in this Section 12. The Participant is not obliged to consent to such
collection, use, processing and transfer of personal data. However, the Participant’s failure to provide the consent may affect the Participant’s ability to participate in the Program. The Company and its Subsidiaries and
Affiliates hold certain personal information about the Participant, including the Participant’s name, home address and telephone number, date of birth, employee identification number, salary, nationality, job title, any shares of stock or
directorships held in the Company, details of all options or any other rights or entitlements to shares of stock in the Participant’s favor, for the purpose of managing and administering the Program (“Data”). The Company, its
Subsidiaries and its Affiliates will transfer Data amongst themselves as necessary for the purpose of implementation, administration and management of the Participant’s participation in the Program, and the Company and any of its Subsidiaries
or Affiliates may each further transfer Data to any third parties assisting in the implementation, administration and management of the Program. These recipients may be located in the European Economic Area, or elsewhere throughout the world,
such as the United States. The Participant authorizes them to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Participant’s participation in
the Program, including any requisite transfer of such Data as may be required for the administration of the Program and/or the subsequent holding of Shares on the Participant’s behalf to a broker or other third party with whom the Participant
may elect to deposit any Shares acquired pursuant to the Program. The Participant may, at any time, review Data, require any necessary amendments to it or withdraw the consents herein in writing by contacting the Company; however, by
withdrawing consent, the Participant will affect his or her ability to participate in the Program. 

  
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 13. Execution of the Agreement. 

 

	 	a.	The Parties agree that this Agreement shall be considered executed by both parties executing the Agreement as the first page hereof, which is a part hereof.

  

	 	b.	This Agreement, or any amendments thereto, may be executed in counterparts, each of which shall be deemed an original but all of which shall constitute one and the same
instrument. 

  
 9Exhibit 10.1

 Exhibit 10.1 
 PURCHASE AND SALE AGREEMENT 
 THIS AGREEMENT, dated as of the
29th day of December, 2011, between COMMONWEALTH BIOTECHNOLOGIES, INC., a Virginia corporation, debtor-in-possession in Bankruptcy No. 11-30381 presently pending in the United States Bankruptcy Court for the Eastern District of Virginia
(“Seller”), and AUDAZ GROUP, LLC, a Virginia limited liability company (“Purchaser”), provides: 

THAT for and in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser hereby agree as follows: 
 1. Purchase and
Sale. 
 (a) Property; Purchase Price. Seller agrees to sell and Purchaser agrees to purchase that certain real
property located in Chesterfield County, Virginia, with a street address of 601 Biotech Drive, Richmond, Virginia 23235, and more particularly described as a single-story office and laboratory building consisting of approximately 32,194+/- square
(the “Office Building”) situated on a parcel of land containing approximately 4.592 acres (the “Land”), the legal description of which is attached hereto as Exhibit “A”, for the purchase price comprising
(a) payment of Three Million Six Hundred Eighty-Five Thousand Dollars ($3,685,000) in cash, plus (b) release (valued at $115,000.00) by Purchaser and American International Biotech, LLC and Bostwick Laboratories, Inc., affiliates of
Purchaser, of any and all claims against Seller, whether or not presently asserted and whether presently known or unknown, from the beginning of time through the date hereof, including specifically but without limitation the claims asserted in Claim
No. 21 filed in the Bankruptcy Case (herein defined) (collectively, the “Purchase Price”), and in accordance with the other terms and conditions set forth herein.1 The Office Building and the Land are collectively referred to herein as the “Real Property.” 

(b) Existing Lease. The purchase and sale of the Real Property hereunder shall NOT include the assignment by Seller and the assumption by
Purchaser of all of Seller’s right, title and interest in and to the lease for tenant space at the Real Property (the “Existing Lease”). The Existing Lease is to be canceled by the parties thereto. 

(c) Personal Property. The purchase and sale of the Property hereunder shall include all personal property owned by Seller located in the common
areas of the Office Building as of the date hereof, including all furniture, fixtures, furnishings and decorations (the “Personal Property”) Seller’s interest in which shall be transferred to Purchaser by quitclaim at Closing.

 (d) Intangible Property. Any warranties, and guaranties (express or implied), permits, licenses, approvals, plans and specifications
relating to the Real Property (the “Intangibles”) shall be included in the purchase and sale of the Real Property hereunder and assigned to the Purchaser to the extent that they are assignable. 

(e) Property. The Real Property, Personal Property and Intangibles are collectively referred to herein as the “Property.” 

 
  

	1 	 Not included in the Purchase Price, but payable by Purchaser to Seller at Closing, shall be the additional sum of Sixteen Thousand Five Hundred
($16,500.00), representing an agreed adjustment with regard to real estate tax penalties, insurance premiums and owners’ association dues and assessments. 

 2. Payment of Purchase Price. The Purchase Price shall be paid to Seller in the
following manner: 
 (a) Deposit. Upon execution of this Agreement, Purchaser shall pay an earnest money deposit of Fifty
Thousand and 00/100 Dollars ($50,000.00) (the “Deposit” and/or the “Deposit”) to be held in escrow by counsel to Seller. The Deposit shall be non-refundable (subject, however, to the provisions of Section 14, infra)
upon the earlier of 48 hours from (i) execution of this Agreement or (ii) the approval of this Agreement by the Bankruptcy Court (as hereafter defined), as announced in open court. In the event that the Deposit has not been received as
provided herein, then this Agreement shall automatically terminate and become null and void, TIME BEING OF THE ESSENCE. 
 (b)
Deposit Applied to Purchase Price. The Deposit shall be (i) applied toward the Purchase Price in the event Closing (as hereinafter defined) occurs hereunder, or (ii) returned to Purchaser pursuant to Sections 5, 10, 12(b) or 13
hereof in the event this Agreement is terminated as provided therein, or (iii) delivered to and retained by Seller pursuant to Section 12(a) hereof in the event Purchaser defaults in its obligation to close hereunder. 

(c) Balance of Purchase Price. Purchaser shall pay, or cause to be paid, the balance of the Purchase Price, as adjusted pursuant
to Section 9 hereof, to Seller at Closing in cash by wire transfer of immediately available federal funds. 
 3.
Operation of Property. 
 (a) Seller shall manage and operate the Property in the ordinary and usual manner and consistent
with good management practices. Prior to the date of Closing, Seller shall not execute any new leases or enter into any new service contract without the prior written consent of Purchaser. 

4. Representations and Warranties. 
 (a) Purchaser’s Representations, Warranties and Covenants. Purchaser hereby makes the following representations, warranties and covenants: 

(i) Authorization, Execution and Delivery. Purchaser is a Virginia limited liability company duly organized and
legally existing; is duly qualified to do business in the Commonwealth of Virginia; has duly and validly authorized and executed this Agreement, and has the full right and authority to enter into, perform and consummate its obligations under this
Agreement without any qualification and without the necessity of any other consent or approval. This Agreement has been duly authorized, executed and delivered by all necessary action on the part of Purchaser, constitutes the valid and binding
agreement of Purchaser and is enforceable in accordance with its terms. 
 (ii) Conflict with Agreements.
The obligations and undertakings of Purchaser under this Agreement do not and will not violate or conflict with any agreement to which Purchaser is a party or by which Purchaser is bound. 

(iii) Acceptance of Property. Purchaser acknowledges and agrees that Purchaser is purchasing the Property by
Special Warranty deed “AS IS, WHERE 

  
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IS,” with any existing defects (either latent or patent) and in its present condition (environmental and otherwise) at Closing. Except as specifically provided herein and as provided by
Seller’s special warranty of title, Seller has not made and does not make any representations or warranties, either express or implied, with respect to (A) the Property, the operations of the Property or the physical condition, fitness for
a particular purpose or merchantability of the Property, or (B) the completeness or accuracy of any information furnished to Purchaser or otherwise obtained by Purchaser from any source, which are not expressly set forth herein, including
without limitation the Existing Leases or maintenance and service agreements. In entering into this Agreement, Purchaser has not been induced by, and has not relied upon, any representations, warranties or statements, whether express or implied,
made by Seller or any agent, employee or other representative of Seller or by any broker or any other person representing or purporting to represent Seller, which are not expressly set forth herein. Instead, Purchaser’s decision to purchase the
Property shall be based solely upon Purchaser’s own examination and inspection of the Property. 
 (iv)
Purchaser’s Title Insurance Commitment. Prior to Closing, Purchaser shall provide to Seller, at no cost or expense to Seller, a copy of Purchaser’s commitment for title insurance with respect to the Property. Seller reserves the
right, in its sole discretion, to modify the legal description attached to this Agreement, the Deed and any other documents delivered by Seller at Closing to conform to the legal description of the Property as set forth in such title insurance
commitment including, without limitation, excluding any previous out-conveyances or condemnations affecting the Property. Any such modification of the legal description of the Property shall not result in any adjustment to the Purchase Price payable
hereunder by Purchaser nor affect any other term or provision of this Agreement. 
 (v) OFAC Disclosure.
Purchaser is not a Blocked Person (as defined below). For purposes of this paragraph, a “Blocked Person” is any person or entity with whom U.S. persons or entities are restricted from doing business under regulations of the Office of
Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked Persons List) or under any statute, executive order (including the September 24, 2001,
Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action. 
 (b) Seller’s Representations, Warranties and Covenants. Seller hereby makes the following representations, warranties and covenants: 

(i) Authorization, Execution and Delivery. Seller is a Virginia corporation duly organized and legally existing; is
duly qualified to do business in the Commonwealth of Virginia; has duly and validly authorized and executed this Agreement, and has the full corporate right and authority to enter into, perform and consummate its obligations under this Agreement.
Upon entry of the Sale Order, this Agreement will have been duly authorized, executed and delivered by all necessary action on the part of Seller, and will constitute the valid and binding agreement of Seller enforceable in accordance with its
terms. 

  
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 (ii) Conflict with Agreements. The obligations and undertakings of
Seller under this Agreement do not and will not violate or conflict with any agreement to which Seller is a party or by which Seller or the Property is bound. 
 (iii) Representations. Seller has not received any written notice of (A) any unresolved violation of any ordinance, regulation, law or statute of any governmental agency pertaining to the
Property or any part thereof; (B) any uncorrected notice from any insurance company, governmental agency, adjacent landowners or any other party of any condition, defect, or inadequacy that, if not corrected, would result in termination of
insurance coverage or increase its costs; (C) any pending proceedings that could or would cause the change, redefinition, or other modification of the zoning classification, or of other legal requirements applicable to the Property or any part
thereof, or any property adjacent to the Property; (D) any pending actions or proceedings for the condemnation of any part of the Property, or for any acquisition in lieu thereof; or (E) any pending public improvements or special
assessments relating to the Property. 
 (iv) Personal Property. To the best of Seller’s knowledge
after reasonable inquiry, the Personal Property is not the subject of any unrecorded security agreements, equipment leases or other encumbrances granted by Seller. 

(v) Not a Foreign Person. Seller is not a “foreign person” within the meaning of the Internal Revenue
Code of 1986, as amended (hereinafter the “Code”), Sections 1445 and 7701. 
 (vi) OFAC
Disclosure. Seller is not a Blocked Person. 
 (vii) Property Information. Subject to the limitations
set forth herein, until Closing or the earlier termination of this Agreement, Seller shall make available to Purchaser at a mutually convenient location in Richmond, Virginia, the files maintained by Seller with respect to the Property including
specifically, but without limitation, all surveys, blueprints and warranties with respect to HVAC equipment and other contracts and communications directly affecting the Property (collectively, the “Property Information”). Purchaser shall
have reasonable opportunity to review the Property Information and to make, at Purchaser’s expense, photocopies of any of the Property Information that Purchaser desires. At Closing the originals of such documents shall be transferred to
Purchaser. Purchaser acknowledges that it has been and may in the future be provided with or otherwise obtain information regarding the Property. The information may be provided by or obtained from Seller or from other sources (including persons or
entities who may be agents, employees or contractors of Seller. It is expressly understood and agreed by the parties hereto that the foregoing representations and warranties (A) are limited to the knowledge of Richard J. Freer (in his capacity
as the Chief Executive Officer of Seller responsible for the asset management of the Property), (B) apply only to the period of time that Seller has owned the Property, (C) are made without any inquiry or investigation, and (D) shall
survive Closing or any termination of this Agreement for a period of twelve (12) months only. In addition, it is expressly understood and agreed by the parties hereto that in the event, prior to Closing, Purchaser obtains knowledge (from
whatever source, including without limitation, 

  
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any due diligence tests, investigations or inspections of the Property) that contradicts any of Seller’s representations and warranties, the sole and exclusive remedy of Purchaser shall be
either to (x) terminate this Agreement prior to Closing by providing written notice thereof to the Seller within ten (10) calendar days after Purchaser receives notice of any such contradiction of the representations and warranties, in
which event the Deposit shall be returned to Purchaser, and thereafter neither party shall have any further rights or obligations hereunder, except as expressly provided herein, or (y) waive such contradiction and proceed to Closing without any
reduction in the Purchase Price. 
 5. Condition Precedent. Purchaser’s obligation to purchase the Property under
this Agreement is subject to compliance with Section 14 herein and to Purchaser’s satisfaction that all of the representations, warranties and covenants of Purchaser and Seller contained in this Agreement remain true and correct as of the
Closing. 
 6. Closing. Closing of the purchase and sale of the Property pursuant to this Agreement (“Closing”)
shall be held no later than December 30, 2011, or as soon thereafter as Seller and Purchaser may in good faith deem practical. Closing shall be conducted in escrow by a person or entity that is reasonably acceptable to the parties hereto, as
settlement agent, and, prior to the date of Closing hereunder, each party shall deliver in escrow to such settlement agent all moneys and documents required to be delivered at Closing hereunder. 

7. Seller’s Deliveries. At Closing, Seller shall prepare, execute and deliver to Purchaser (a) a special warranty deed
(the “Deed”) conveying title to the Property to Purchaser subject to permitted title exceptions (the “Permitted Title Exception”) and the rights of any existing tenants and parties in possession thereof, (b) all necessary
information for IRS Form 1099-S, (c) an affidavit as to nonforeign status of Seller, (d) a Virginia Department of Taxation Form R-5E, (e) an owner’s affidavit regarding title matters, (f) an assignment agreement (the
“Assignment”), with respect to the Personal Property and Intangibles, and (g) written confirmation of the termination of both any property management agreement and all service and maintenance agreements relating to the Property.

 8. Purchaser’s Deliveries. At Closing, Purchaser shall pay to Seller the balance of the Purchase Price as
described in Section 2 above and execute and deliver to Seller counterparts of the Assignment. In addition, upon payment of the Purchase Price Purchaser’s waiver and release described in Section 1, Subsection (a) of this
Agreement shall become fully effective and enforceable. 
 9. Closing Costs; Prorations. 

(a) Closing Costs. Seller shall pay the cost of preparing the Deed, the Virginia grantor’s tax on the Deed, the Broker’s fee and the fees
and expenses of Seller’s counsel. Purchaser shall pay all other costs of Closing including, without limitation, the cost of any title examinations and title insurance premium, the cost of any surveys, inspections and investigations, the
Virginia recording tax on the Deed, cost to record any declaration, any fees of any title company, Purchaser’s attorneys’ fees and settlement costs. Real estate taxes, assessments and utilities, if any, shall be prorated as of the date of
Closing and shall thereafter be assumed and paid by Purchaser. 
 (b) Income and Expenses. The rent payable under the
Existing Leases shall be prorated as of 12:01 a.m. on the date of Closing. All security deposits held by Seller under the Existing Leases shall remain with Seller. All other income and expenses relating to the Property shall be prorated as of 12:01
a. m. on the dated of Closing. The provisions of this Section 9 shall survive Closing. 

  
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 10. Risk of Loss. The risk of any loss or damage to the Property prior to Closing
shall remain upon the Seller except as expressly provided herein. If the Property is damaged by fire or other casualty before Closing and cost of restoration does not exceed two percent (2%) of the Purchase Price, the obligations of the parties
hereunder shall not be affected by such damage, and Seller shall pay over or assign to Purchaser without recourse all rights to any proceeds of insurance payable with respect to such damage and a credit for any insurance deductible, and Purchaser
shall pay the Purchase Price without reduction and shall accept title to the Property in its damaged condition. If the cost of restoration exceeds two percent (2%) of the Purchase Price, then either party may terminate this Agreement by
providing written notice thereof to the other party within seven (7) calendar days after notice of the occurrence of such loss or damage, in which event the Deposit shall be returned to Purchaser and thereafter neither party shall have any
further rights or obligations hereunder, except as expressly provided herein. If the parties do not elect to so terminate this Agreement, the parties shall proceed to Closing without any reduction in the Purchase Price and Purchaser shall receive an
assignment at Closing of any insurance proceeds that may be available as a result of such loss or damage and a credit for any insurance deductible. 
 11. Brokers. 
 (a) Sales Commission. The parties acknowledge that CB
Richard Ellis of VA, Inc. (the “Broker”) represented Seller in connection with this Agreement. Seller shall pay the commission due to the Broker as approved by Bankruptcy Court (as hereafter defined), and Purchaser shall have no obligation
to see to such payment, nor shall Purchaser have any liability therefor. 
 (b) Indemnification. Each party represents
and warrants that, except for the Broker, it has not engaged the services of or dealt with any broker, salesperson or other person or entity who may claim a commission or other payment in conjunction with this Agreement. Each party hereto agrees to
indemnify, defend and hold the other party harmless from and against all loss, claims, costs and expenses (including reasonable attorneys’ fees) caused by a breach of the foregoing representations. This section 11 and the obligations hereunder
shall survive the delivery of the Deed and any termination of this Agreement. 
 12. Default. 

(a) By Purchaser. If Purchaser defaults in performing any of Purchaser’s obligations under this Agreement, Seller shall retain the Deposit to
be applied toward Seller’s damages for Purchaser’s breach. The amount of the Deposit shall be the minimum damages to which Seller shall be entitled should Closing not occur between Seller and Purchaser, but Seller shall be entitled to the
amount of damages it can prove even if such amount exceeds the amount of the Deposit, in which case the Deposit shall be credited against the total of Seller’s damages. 
 (b) By Seller. If Seller defaults in performing any of Seller’s obligations under this Agreement, Purchaser’s sole remedy shall be either to (i) terminate this Agreement by providing
written notice thereof to Seller and receive a refund of the Deposit, in which event neither party shall have any further rights or obligations hereunder, except as expressly provided herein, or (ii) seek specific performance of Seller’s
obligation to convey title to the Property hereunder. Purchaser hereby expressly waives any right Purchaser may have to any damages (compensatory, consequential or otherwise) as a result of such default. Any legal action for

  
 6 

 
specific performance initiated by Purchaser pursuant hereto may be brought in the Bankruptcy Court, and the parties stipulate and agree that such action will be a “core proceeding” as a
proceeding “arising in” the Bankruptcy Case. 
 13. Condemnation. If a substantial part of the Property (as
defined below) is taken prior to Closing pursuant to eminent domain proceedings (or private purchase in lieu thereof), or Seller has received written notice of an intent to condemn such part of the Property from the condemning authority, then either
party may terminate this Agreement by providing written notice thereof to the other party within seven (7) calendar days after the date of such taking or receipt of notice thereof. If the parties do not elect so to terminate this Agreement, the
parties shall proceed to Closing with an adjustment in the Purchase Price equal to any condemnation award or payment actually received by Seller. If Seller does not receive such award or payment by the date of Closing, Seller shall assign all of
Seller’s right, title and interest in such award or payment to Purchaser at Closing without an adjustment to the Purchase Price. For purposes of this section, “substantial part of the Property” means that portion of the Property that,
if taken pursuant to eminent domain proceedings (or private purchase in lieu thereof), would have a material adverse effect upon Purchaser’s intended use of the Property as an office building or would result in the loss of any parking below the
minimum amount required by the applicable local government authority for the Building, a material and adverse change in access to the Land or results in the termination of any lease. If either party elects to terminate this Agreement as provided in
this section, the Deposit shall be refunded to Purchaser and neither party shall have any further rights or obligations hereunder, except as may be expressly provided herein. 
 14. Bankruptcy Issues. 
 (a) Seller is a debtor in possession in a Chapter
11 bankruptcy case (the “Bankruptcy Case”) that is pending as Case No. 11-30381-KRH in the United States Bankruptcy Court for the Eastern District of Virginia, Richmond Division (the “Bankruptcy Court”). 

(b) The obligation of Seller to sell and convey the Property to Purchaser, and the obligation of Purchaser to purchase the Property from
Seller, are subject to the condition precedent that the Bankruptcy Court shall have entered an order in the Bankruptcy Case (the “Sale Order”) (i) approving this Agreement and the sale of the Property to Purchaser, free and clear of
liens, claims and encumbrances other than the Permitted Title Exceptions, (ii) incorporating the terms of this Agreement in the terms of the Sale Order so that the terms hereof constitute an integral part of the Sale Order, and
(iii) authorizing and directing Seller to consummate the transactions contemplated by this Agreement. Notwithstanding anything the contrary, upon entry of the Sale Order, Seller shall provide a copy of the Sale Order to Purchaser’s
counsel, and Purchaser shall have the right to terminate this Agreement at any time on or before Closing if such Sale Order is not in conformance herewith, as determined by the Bankruptcy Court, and upon such termination the Deposit shall be
promptly returned to Purchaser. Promptly following the execution by the parties of this Agreement and the delivery by Purchaser to Escrow Agent of the Deposit, Seller will seek approval of this Agreement from the Bankruptcy Court. At no cost to
Purchaser, Purchaser shall cooperate with Seller in good faith to obtain entry by the Bankruptcy Court of the Sale Order as soon as reasonably practicable. 
 15. (a) Release of Purchaser and Affiliates. As an integral part of Purchaser’s agreement to pay the Purchase Price, including the portion thereof related to the release of all

  
 7 

 
claims by Purchaser and its affiliates, including but not limited to American International Biotech, LLC and Bostwick Laboratories, Inc., against Seller, Seller agrees that upon payment of the
Purchase Price Seller shall be deemed to have released Purchaser and its affiliate entities, including specifically but without limitation American International Biotech, LLC and Bostwick Laboratories, Inc. and the officers, directors, agents and
employees of any of them from any and all claims, whether or not presently asserted and whether or not known, that Seller or any of its affiliates may have against any of the parties being released, any such claim with regard to any matter
whatsoever, whether or not related to the subject matter of this Purchase and Sale Agreement or any issues between Seller and the parties being released that has arisen or may arise in the Bankruptcy Case. 

(b) Release of Seller and Affiliates. In accordance with the provisions of section l (a) of this Agreement Purchaser agrees that upon
Seller’s receipt of the Purchase Price Purchaser and its affiliates, including without limitation American International Biotech, LLC and Bostwick Laboratories, Inc., shall be deemed to have released Seller and its affiliates, officers,
directors, agents and employees from all claims, whether or not presently asserted and whether or not known, that Purchaser or any of its affiliates may have against any of the parties being released and whether or not related to the subject matter
of this Purchase and Sale Agreement or any issues between Purchaser and its affiliates and the parties being released that have arisen or may arise in the Bankruptcy Case. American International Biotech, LLC and Bostwick Laboratories, Inc. have
executed this Agreement in order to evidence their intent to be bound by this release. 
 16. Miscellaneous Provisions.

 (a) Study Materials. In the event Purchaser does not close as provided herein, Purchaser shall (i) return to
Seller all of the information provided to Purchaser pursuant to Section 4(b) above (including any copies of the Property Information) and (ii) deliver to Seller, at no cost, the results of all tests, studies, examinations and
investigations that Purchaser caused to be performed with respect to the Property. 
 (b) Notices. All notices shall be
in writing and sent by hand delivery, facsimile transmission, overnight delivery service or certified mail, return receipt requested, to the following addresses: 
  

			
	If to Seller:	 	(by hand or overnight courier other than USPS)
		 	Commonwealth Biotechnologies, Inc.
		 	718 Grove Road
		 	Midlothian, Virginia 23114
		 	ATTN: Richard J. Freer
		 	Telephone: (804) 337 0784
		 	Facsimile: (804) 464-1605
		
		 	and
		
		 	(by USPS)
		 	Commonwealth Biotechnologies, Inc.
		 	P. O. Box 35042
		 	Richmond, Virginia 23235
		 	ATTN: Richard J. Freer
		 	Telephone: (804) 337 0784
		 	Facsimile: (804) 464-1605

  
 8 

			
	If to Purchaser:	 	AUDAZ Group, LLC and its affiliates
		 	601 Biotech Drive
		 	Richmond, Virginia 23235
		 	Facsimile: (804) 648-2641
		 	Attention: Elizabeth Rafferty, Manager
		
		 	with a copy to:
		 	Michael D. Mueller, Esquire
		 	Christian & Barton, L.L.P.
		 	909 East Main Street, Suite 1200
		 	Richmond, Virginia 23219
		 	Telephone: (804) 697-4147
		 	Facsimile: (804) 697-6396

 Notices shall be deemed received (i) if hand delivered, when received, (ii) if given by facsimile, when
transmitted to the facsimile number specified above during normal business hours and confirmation of complete receipt is received during normal business hours (provided a copy of the same is sent by overnight delivery service on the same day),
(iii) if given by overnight delivery service, the first business day after being sent prepaid by such overnight delivery service, or (iv) if given by certified mail, return receipt requested, postage prepaid, three (3) days after
posting with the United States Postal Service. Either party may change its address by notifying the other party in a manner described above. Any notice required or allowed under this Agreement may be given by counsel for the party giving such
notice. 
 (c) Assignment. This Agreement may be assigned by Purchaser without Seller’s prior written consent, and
the rights and obligations hereunder may be assigned by Purchaser at any time to any one or more single purpose limited liability companies or other entities affiliated with Purchaser or formed for the purpose of acquiring the Property that is
controlling, controlled by or under common control with Purchaser or its principals; provided that Purchaser delivers written notice and a copy of any such assignment to Seller no less than five (5) days prior to Closing. For purposes of the
preceding sentence, the terms “controlling”, “controlled” and “control” mean the power to direct the management and policies of an entity through voting securities, management ownership, contract or otherwise. Purchaser
may also assign this Agreement for the purposes of accommodating a tax-free exchange of Purchaser and/or its investors. Any agreements, waivers or consents made or given by Purchaser under this Agreement shall be binding upon any such assignee, and
such assignee shall assume Purchaser’s obligations hereunder. In the event of any such assignment, Seller agrees to close the transaction contemplated hereunder with the assignee of Purchaser. An assignment of this Agreement by Purchaser shall
not release Purchaser from its obligations hereunder until the completion of Closing, at which time Purchaser shall be automatically released from any further liability or obligation under this Agreement except for the indemnity obligations under
section 11 of this Agreement that survive Closing. 

  
 9 

 (d) Entire Agreement; Construction; Survival. This Agreement sets forth the entire
agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations and agreements, written or oral. This Agreement may be modified only by a written instrument duly executed by Seller and Purchaser. Each
provision contained in this Agreement shall be severable from all other provisions hereof, and the invalidity of any such provision shall not affect the enforceability of the other provisions of this Agreement. This Agreement shall be construed,
performed and enforced under the laws of the Commonwealth of Virginia. Except as provided in Section 14(b), this Agreement shall bind and inure to the benefit of the parties hereto and their respective affiliates, representatives, successors
and assigns. In addition, the provisions of this Agreement shall be binding upon any chapter 11 or chapter 7 trustee subsequently appointed in the Bankruptcy Case. Except as otherwise provided herein, this Agreement shall survive Closing and the
delivery of the Deed hereunder. IN THE EVENT OF ANY LEGAL PROCEEDINGS BETWEEN THE PARTIES ARISING OUT OF THIS AGREEMENT, EACH PARTY HEREBY WAIVES THE RIGHT TO TRIAL BY JURY. 
 (e) Counterparts. This Agreement may be executed in counterparts by the parties. It is not necessary that the signatures of the parties appear on the same counterpart or counterparts. All
counterparts shall collectively constitute a single agreement. 
 (f) Days. If any action is required to be performed, or
if any notice, consent or other communication is given, on a day that is a Saturday or Sunday or a legal holiday in the jurisdiction in which the action is required to be performed or in which is located the intended recipient of such notice,
consent or other communication, such performance shall be deemed to be required, and such notice, consent or other communication shall be deemed to be given, on the first business day following such Saturday, Sunday, or legal holiday. Unless
otherwise specified herein, all references herein to a “day” or “days” shall refer to calendar days and not business days. 
 [SIGNATURES ON FOLLOWING PAGE] 

  
 10 

 IN WITNESS WHEREOF, Seller and Purchaser have executed or caused this Agreement to be
executed on their behalf by their duly authorized representatives as of the dates indicated below. 
  

							
		 		 	SELLER
			
		 		 	COMMONWEALTH BIOTECHNOLOGIES, INC,
		 		 	a Virginia corporation
				
	Date: 12/29/2011	 		 	By:	 	 /s/ Richard J. Freer

		 		 		 	Richard J. Freer
		 		 	Title:	 	Chief Executive Officer

  

							
		 		 	PURCHASER:
			
		 		 	AUDAZ GROUP, LLC,
		 		 	a Virginia limited liability company
				
	Date: 12/29/2011	 		 	By:	 	 /s/ Elizabeth Rafferty

		 		 		 	Elizabeth Rafferty
		 		 	Title:	 	Manager

  
 11 

 American International Biotech, LLC and Bostwick Laboratories, Inc. join in the foregoing
Purchase and Sale Agreement solely for the purpose of granting the releases to Seller set forth in Section 1(a) of the Agreement 
  

							
		 		 	AMERICAN INTERNATIONAL BIOTECH, LLC
				
	Date: 12/29, 2011	 		 	By:	 	 /s/ Elizabeth Rafferty

		 		 	Title:	 	 Chairman

			
		 		 	BOSTWICK LABORATORIES, INC.
				
	Date: 12/29, 2011	 		 	By:	 	 /s/ David G. Bostwick

		 		 	Title:	 	 CEO

  
 12 

 ERRATA SHEET TO PURCHASE AND SALE AGREEMENT 

DATED DECEMBER 29, 2011 
 This
Errata Sheet is attached to and made a part of that Purchase and Sale Agreement dated December 29, 2011, by and between Commonwealth Biotechnologies, Inc., a Virginia corporation, and Audaz Group, LLC, a Virginia limited liability company (the
“Purchase Agreement”). Due to the fact that the Purchase Agreement was printed and executed by the parties in counterpart, different spacing and formatting of the counterparts has caused the pagination on each counterpart to be different.
The Purchase Agreement, as fully executed and assembled, to which this Errata Sheet is attached, represents the accurate and complete agreement between the parties with respect to the subject matter thereof.

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