Document:

ex1013RPEmpAgmt-WilliamChaney

Exhibit 10.13

AMENDED AND RESTATED EMPLOYMENT AGREEMENT
THIS AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”), is made as of the 1st day of March, 2015 (the “Effective Date”) by and between William Chaney (the “Executive”), and RealPage, Inc., a Delaware company (the “Employer”), located at 4000 International Parkway, Carrollton, TX 75007.  
WHEREAS, Executive is employed by Employer and party to an Employment Agreement, dated August 1, 2012 with Employer, as amended (the “Prior Agreement”), there has been no disruption in the employment relationship, and the Parties desire to enter into this Agreement setting forth the terms and conditions of the employment relationship between Executive and Employer and superseding the Prior Agreement; and
NOW, THEREFORE, in consideration of the premises and the mutual agreements set forth below, the parties hereby agree as follows:
1.Employment and Consideration.  Employer hereby agrees to employ Executive, and Executive hereby accepts such employment, on the terms and conditions hereinafter set forth.  In consideration of the promises of Executive contained in this Agreement, Employer agrees to employ Executive, and to provide Executive with confidential information of Employer necessary for the performance of Executive’s position.
2.    Employment Screening.  Executive has successfully completed a pre-employment consumer report verification, and Employer new hire paperwork, each of which was to be conducted in accordance with applicable state and/or federal law.  Executive understands and agrees that Executive will be subject to Employer’s general policies and practices concerning applicants for senior executive positions and new senior executive employees.
3.    Employment Period.  The period during which Executive shall furnish services to Employer hereunder (the “Employment Period”) shall commence on the Effective Date and shall end on the Date of Termination (as defined in Section 8(b) below).  Nothing in this Section 3 shall limit the right of Employer or Executive to terminate Executive’s employment hereunder on the terms and conditions set forth in Section 7 hereof.
4.    Position and Duties.
(a)    Office; Reporting; Duties.  During the Employment Period, Executive shall serve as Executive Vice President, Enterprise Solutions of Employer.  Executive shall report directly to the Chief Executive Officer of Employer or such other executive as the Chief Executive Officer of Employer shall designate (“Supervisory Executive”).  Executive shall have those powers, duties and perquisites consistent with a senior management position and such other powers and duties as may be prescribed by the Supervisory Executive, provided 

    

that such other powers and duties are consistent with Executive’s position within the management structure of Employer.
(b)    Commitment of Full Time Efforts.  Executive agrees to devote substantially his or her full working time, attention and energies to the performance of Executive’s duties for Employer, provided, however, that it shall not be a violation of this Agreement for Executive to (i) serve on civic or charitable boards or committees, (ii) serve on non-public corporate boards or committees, (iii) manage personal investments,   or (iv) give speeches and make media appearances in Executive’s individual capacity to discuss matters of public interest (so long as such shall not involve any illegal conduct), so long as the foregoing activities comply with the RealPage, Inc. Code of Business Conduct and Ethics and do not interfere materially with the performance of Executive’s responsibilities for Employer.
5.    Place of Performance.  Executive shall perform Executive’s duties for Employer from the offices of Employer, located at 4000 International Parkway, Carrollton, Texas 75007 or such other location as is either within a 25-mile radius thereof or within a 25-mile radius of the Executive’s principal residence (at the time the applicable location becomes Executive’s principal office).
6.    Compensation and Related Matters.
(a)    Base Salary.  As compensation for the performance by Executive of Executive’s obligations hereunder, during the Employment Period, Employer shall pay Executive a base salary at a rate not less than $30,833.33 per month, or $370,000 on an annualized basis (the base salary, at the rate in effect from time to time, is hereinafter referred to as the “Base Salary”).  Base Salary shall be paid in approximately equal installments in accordance with Employer’s customary payroll practices and legal requirements regarding withholding and deductions.  During the Employment Period, the Base Salary shall be reviewed no less frequently than annually to determine whether or not the same should be adjusted in light of the duties, responsibilities and performance of Executive and other relevant factors.
(b)    Annual Bonus.  During the Employment Period, Executive shall be eligible for an annual bonus under the terms of the RealPage Management Incentive Plan (“MIP Target”) of 50% of Executive’s Base Salary for achievement of MIP Target at 100%.  The performance criteria shall be as established by the Compensation Committee of Employer’s Board of Directors.  To be eligible for the Annual Bonus, Executive must be employed by Employer on December 31 of the year with regard to which the Annual Bonus is applicable and must be employed on the date the Annual Bonus is paid.  Annual Bonuses shall be paid according to the RealPage Management Incentive Plan.
(c)    Equity Grants.  Executive shall be eligible for equity compensation grants pursuant to the RealPage, Inc. Amended and Restated 2010 Equity Incentive Plan (the “Plan”) or any successor thereto.  
(d)    Expenses and Vacations.  Employer, according to its standard travel policy, shall reimburse Executive for all reasonable, in-policy business expenses upon the 

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presentation of itemized statements of such expenses.  Executive shall be entitled to three weeks’ paid vacation per year, in accordance with Employer’s vacation policy and practice applicable to senior executives of Employer; provided that following Executive’s fifth anniversary of employment with Employer, Executive shall be entitled to four weeks’ paid vacation per year.
(e)    Fringe Benefits and Perquisites.  During the Employment Period, Employer shall make available to Executive all the fringe benefits and perquisites that are made available to other senior executives of Employer, including an additional $3500 payment towards medical expenses.
(f)    Other Benefits.  During the Employment Period, Executive shall be eligible to participate in all other employee welfare benefit plans and other benefit programs (including group life insurance, medical and dental insurance, and accident and disability insurance) made available generally to employees or senior executives of Employer.
7.    Termination.  Executive’s employment hereunder may be terminated under the following circumstances, in each case subject to the provisions of this Agreement:
(a)    Death.  Executive’s employment hereunder shall terminate upon Executive’s death.
(b)    Disability.  If, as a result of Executive’s incapacity due to physical or mental condition and, if reasonable accommodation is required by law, after any reasonable accommodation, Executive shall have been absent from Executive’s duties hereunder on a full-time basis (i) for a period of six consecutive months or (ii) for shorter periods aggregating six months during any 12 month period, and, in either case, within 30 days after written Notice of Termination (as described in Section 8(a) hereof) is given, Executive shall not have returned to the performance of Executive’s duties hereunder on a full-time basis, Employer may terminate Executive’s employment hereunder for “Disability.”
(c)    Cause.  Employer may terminate Executive’s employment hereunder for Cause.  In the event of a termination under this Section 7(c), the Date of Termination shall be the date set forth in the Notice of Termination.  For purposes of this Employment Agreement, “Cause” means the occurrence of any of the following events which are not cured by Executive within ten days after receipt of written notice of such alleged cause from Employer or, if such event cannot be corrected within such ten-day period, if Executive does not commence to correct such default within said ten-day period and thereafter diligently prosecute the correction of same to completion within a reasonable time, provided, however, for no period greater than 30 days: (i) Executive’s conviction for any acts of fraud or breach of trust or any felony criminal acts; (ii) Executive’s knowingly making a materially false written statement to Employer’s auditors or legal counsel; (iii) Executive’s willful and material falsification of any corporate document or form; (iv) any material breach by Executive of any Employer published policy received and acknowledged by Executive in writing; (v) any material breach by Executive of a material provision of this Employment Agreement; (vi) Executive’s making a material misrepresentation of fact or omission to 

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disclose material facts in relation to transactions occurring in the business and financial matters of Employer; or (vii) Executive’s repeated and material failure substantially to perform Executive’s duties.  Notwithstanding the foregoing, during the two-year period following a Change of Control (the “Protected Period”), a termination for Cause (other than pursuant to Section 7(c)(i)) shall require a showing by Employer that the actions giving rise to such termination resulted in material and demonstrable harm to Employer. 
(d)    Good Reason.  For purposes of this Agreement, “Good Reason” shall mean, without Executive’s written consent: (i) a material reduction in Executive’s base salary or incentive compensation opportunity, (ii) a material reduction in Executive’s responsibilities or authority; (iii) a material breach by Employer of a material provision of this Agreement, or (iv) a material change in the geographic location at which Executive must perform Executive’s services (except as provided in Section 5 above); provided, that in no instance will the relocation of Executive to a facility or a location that is either 25 miles or less from Executive’s then-current office or 25 miles or less from Executive’s then-current primary residence be deemed material for purposes of this Agreement.
In the event of a resignation for Good Reason, Executive must provide Employer with written notice of the acts or omissions constituting the grounds for Good Reason within 90 days of the initial existence of the grounds for Good Reason and a reasonable opportunity for Employer to cure the conditions giving rise to such Good Reason, which shall not be less than 30 days following the date of notice from Executive.  If Employer cures the conditions giving rise to such Good Reason within 30 days of the date of such notice, Executive will not be entitled to severance payments and/or benefits contemplated by Section 9(a) below if Executive thereafter resigns from Employer based on such grounds.  Any termination for Good Reason must be effectuated within 90 days of the expiration of such cure period.
(e)    Other Terminations.  Notwithstanding the foregoing provisions, Employer may terminate Executive’s employment at any time, for any reason, with or without Cause, and Executive may terminate Executive’s employment at any time, with or without cause, in accordance with applicable state and federal law.  The parties acknowledge that Executive is an at-will employee of Employer.
8.    Termination Procedure.
(a)    Notice of Termination.  Any termination of Executive’s employment by Employer or by Executive (other than termination pursuant to Section 7(a) hereof) shall be communicated by written Notice of Termination to the other party hereto in accordance with Section 15.
(b)    Date of Termination.  “Date of Termination” shall mean (i) if Executive’s employment is terminated by Executive’s death, the date of Executive’s death; (ii) if Executive’s employment is terminated pursuant to Section 7(b), 30 days after Notice of Termination is given (provided that Executive shall not have returned to the performance of Executive’s duties on a full-time basis during such 30-day period); (iii) if Executive’s employment is terminated pursuant to Section 7(c), the date specified in the Notice of 

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Termination; (iv) if Executive terminates Executive’s employment for Good Reason, upon expiration of the 30-day cure period set forth in Section 7(d) if Employer’s breach shall be uncured; and (v) if Executive’s employment is terminated pursuant to Section 7(e), immediately upon written notice delivered by the terminating party to the other, unless such notice designates a different termination date (in the case of a termination by Executive pursuant to Section 7(e), Employer may elect to accelerate the Date of Termination to any date following receipt of such notice, and such acceleration shall not be deemed a termination by Employer without Cause).
9.    Compensation Upon Termination.
(a)    Death; Disability; Termination By Employer without Cause or By Executive for Good Reason.  If Executive’s employment is terminated during the Employment Period by reason of Executive’s death or Disability or by Employer without Cause or by Executive for Good Reason, Employer shall pay to Executive (or Executive’s legal representatives or estate or as may be directed by the legal representatives of Executive’s estate, as the case may be) (i) the Severance Amount (defined in Section 9(b)), payable in 12 equal monthly installments on the applicable monthly anniversaries of the Date of Termination; (ii) a payment, payable on the 60th day following the Date of Termination equal to the product of (x) the excess of the monthly COBRA premium required for Executive to continue health insurance coverage at the level in effect as of the Date of Termination over the employee premium Executive would be required to pay for such coverage were Executive still actively employed by Employer (each determined as of the Date of Termination) multiplied by (y) 12 (or, if the Date of Termination occurs during the Protected Period other than due to death or Disability, 24); and (iii) a lump sum cash payment, payable within five days following such Date of Termination, of an amount equal to any earned but unpaid Base Salary or bonus (in the case of an annual bonus, such payment may be made on the date annual bonuses for the applicable year are to be made generally, if such year ended prior to the Date of Termination but such general payment date is to occur subsequent to the fifth day following the Date of Termination) due to Executive in respect of periods through the Date of Termination plus accrued vacation in accordance with Employer’s vacation policy -- subject to all required deductions and withholdings (the amounts due pursuant to this clause (iii), the “Accrued Amounts”).  The amounts set forth in Section 9(a)(i)-(ii) shall be payable if and only if Executive shall have executed on or before the 50th day following the Date of Termination, and not subsequently revoked, a mutual release and covenant agreement substantially in the form set forth as Exhibit A (the “Release Agreement”).  For the avoidance of doubt, in the event that Executive is willing to execute the Release Agreement and the Company is not, the Company shall not be required to sign the Release Agreement, but, so long as Executive timely delivers an executed Release Agreement, the amounts set forth in Section 9(a)(i)-(ii) shall be payable to Executive.  In the event Executive does not timely execute (or revokes) the Release Agreement, Executive shall repay to Employer, within five days prior following the 60th day following the Date of Termination, any payments previously made to Executive pursuant to Section 9(a)(i).  For purposes of this Section 9, if Executive’s employment is terminated without Cause or by Executive for Good Reason prior to a Change in Control but proximate to, or following, 

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Employer’s (as defined in the Plan) entry into an agreement to enter into a transaction that would constitute a Change in Control, and such termination (or the event giving rise to the Good Reason claim) is made at the direction of the third-party effectuating such Change in Control, such termination shall be deemed to have occurred during the Protected Period.
(b)    Severance Amount.  For the purposes of Section 9(a), “Severance Amount” means an amount equal to 
		
	(i)
	if Executive’s employment is terminated by reason of Executive’s death or Disability, six months of Executive’s Base Salary (determined as of the Date of Termination),

		
	(ii)
	if, other than during the Protected Period, Executive’s employment is terminated by Employer without Cause or by Executive with Good Reason, one multiplied by Executive’s Base Salary  (determined as of the Date of Termination), or 

		
	(iii)
	if, during the Protected Period, Executive’s employment is terminated by Employer without Cause or by Executive with Good Reason, two multiplied by Executive’s Base Salary (determined  as of the Date of Termination).

(c)    Cause or By Executive Other than for Good Reason.  If Executive’s employment is terminated by Employer for Cause or by Executive other than for Good Reason, then Employer shall pay Executive, within five days following such Date of Termination, in a lump sum cash payment, the Accrued Amounts (other than annual bonuses with respect to which Executive did not satisfy the continued service requirements of Section 6(b)).  
(d)    Certain Reductions.  Anything in this Agreement to the contrary notwithstanding, in the event that the Accounting Firm (as defined below) determines that receipt of all Payments (as defined below) would subject Executive to the tax under Section 4999 of the Code, the Accounting Firm shall determine whether to reduce any of the Agreement Payments (as defined below) to Executive so that the Parachute Value (as defined below) of all Payments to Executive, in the aggregate, equals the applicable Safe Harbor Amount (as defined below).  Agreement Payments shall be so reduced only if the Accounting Firm determines that Executive would have a greater Net After-Tax Receipt (as defined below) of aggregate Payments if the Agreement Payments were so reduced.  If the Accounting Firm determines that Executive would not have a greater Net After-Tax Receipt of aggregate Payments if the Agreement Payments were so reduced, Executive shall receive all Agreement Payments to which Executive is entitled hereunder.
		
	(i)
	If the Accounting Firm determines that the aggregate Agreement Payments to Executive should be reduced so that the Parachute Value of all Payments to Executive, in the aggregate, equals the applicable Safe Harbor Amount, Employer shall promptly give Executive notice to that effect and a copy of the detailed calculation thereof.  All determinations made by the Accounting 

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Firm under this Section 9(d) shall be binding upon Employer and Executive and shall be made as soon as reasonably practicable and in no event later than 15 days following the Date of Termination.  For purposes of reducing the Agreement Payments to Executive so that the Parachute Value of all Payments to Executive, in the aggregate, equals the applicable Safe Harbor Amount, only Agreement Payments (and no other Payments) shall be reduced.  The reduction contemplated by this Section 9(d), if applicable, shall be made by reducing payments and benefits (to the extent such amounts are considered Payments) under the following sections in the following order:  (i) Section 9(a)(i); (ii) Section 9(a)(ii); and (iii) Section 9(a)(iii).
		
	(ii)
	As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that amounts will have been paid or distributed by Employer to or for the benefit of Executive pursuant to this Agreement that should not have been so paid or distributed (each, an “Overpayment”) or that additional amounts that will have not been paid or distributed by Employer to or for the benefit of Executive pursuant to this Agreement could have been so paid or distributed (each, an “Underpayment”), in each case consistent with the calculation of the applicable Safe Harbor Amount hereunder.  In the event that the Accounting Firm, based on the assertion of a deficiency by the Internal Revenue Service against Employer or Executive which the Accounting Firm believes has a high probability of success, determines that an Overpayment has been made, any such Overpayment paid or distributed by Employer to or for the benefit of Executive shall be repaid by Executive to Employer, together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code; provided, however, that no such repayment shall be required if and to the extent such deemed repayment would not either reduce the amount on which Executive is subject to tax under Sections 1 and 4999 of the Code or generate a refund of such taxes.  If the Accounting Firm, based on controlling precedent or substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by Employer to or for the benefit of Executive, together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code.

		
	(iii)
	In connection with making determinations under this Section 9(d), the Accounting Firm shall take into account the value of any reasonable compensation for services to be rendered by Executive before or after the applicable transaction giving rise to application of Section 4999 of the Code, including any noncompetition provisions that may apply to Executive (whether set forth in this Agreement or otherwise), and Employer shall cooperate in the valuation of any such services, including any noncompetition provisions.

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	(iv)
	All fees and expenses of the Accounting Firm in implementing the provisions of this Section 9(d) shall be borne by Employer.

		
	(v)
	The following terms shall have the following meanings for purposes of this Section 9(d).

		
	(1)
	“Accounting Firm” shall mean a nationally recognized certified public accounting firm (which accounting firm shall in no event be the accounting firm for the entity seeking to effectuate such change of control) or other professional services organization that is a certified public accounting firm recognized as an expert in determinations and calculations for purposes of Section 280G of the Code that is selected by Employer (as it exists prior to a change of control) and reasonably acceptable to Executive for purposes of making the applicable determinations hereunder.

		
	(2)
	“Agreement Payment” shall mean a Payment paid or payable pursuant to this Agreement.

		
	(3)
	“Net After-Tax Receipt” shall mean the Present Value of a Payment net of all taxes imposed on Executive with respect thereto under Sections 1 and 4999 of the Code and under applicable state, local, and foreign laws, determined by applying the highest marginal rate under Section 1 of the Code and under state, local, and foreign laws that applied to Executive’s taxable income for the immediately preceding taxable year, or such other rate as such Executive shall certify, in Executive’s sole discretion, as likely to apply to Executive in the relevant tax year.

		
	(4)
	“Parachute Value” of a Payment shall mean the present value as of the date of the change in control for purposes of Section 280G of the Code of the portion of such Payment that constitutes a “parachute payment” under Section 280G(b)(2) of the Code, as determined by the Accounting Firm for purposes of determining whether and to what extent the excise tax under Section 4999 of the Code will apply to such Payment.

		
	(5)
	A “Payment” shall mean any payment, benefit or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of Executive, whether paid or payable pursuant to this Agreement or otherwise.

		
	(6)
	“Present Value” of a Payment shall mean the economic present value of a Payment as of the date of the change in control for purposes of Section 280G of the Code, as determined by the Accounting Firm using the discount rate required by  Section 280G(d)(4) of the Code.

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	(7)
	“Safe Harbor Amount” means (x) 3.0 times Executive’s “base amount,” within the meaning of Section 280G(b)(3) of the Code, minus (y) $1.00.

10.    No Mitigation.  Executive shall not be required to mitigate amounts payable pursuant to Section 9 of this Agreement by seeking other employment or otherwise, nor shall such payments be reduced on account of any remuneration earned by Executive attributable to employment by another employer, by retirement benefits, by offset against any amount claimed to be owed by Executive to Employer or otherwise.
11.    Confidentiality, Non-Compete, and Non-Solicitation.
(a)    Non-Disclosure and Non-Use of Confidential Information.  Executive shall not disclose any Employer Confidential Information (as defined below) to any third party (other than accountants, lawyers and other third parties engaged by and working at the behest of Employer) without the specific written consent of Employer and shall use Employer Confidential Information solely for the benefit of Employer.  Following the termination of Executive’s employment with Employer (regardless of whether termination is voluntary or involuntary and with or without cause), Executive will not, without the written consent of Employer, use, disclose, reproduce, or distribute any Employer Confidential Information.
(b)    Definition of Employer Confidential Information.  For purposes of this Agreement, “Employer Confidential Information” shall mean all information, regardless of its form or format, about Employer, its customers and employees that is not readily accessible to the public and not a matter of common knowledge in Employer’s business trade or industry and that is disclosed to or learned by Executive as a direct or indirect consequence of or through Executive’s employment with Employer — about Employer, its parents or subsidiaries, including information about Employer’s technology, finances, business methods, plans, operations, services, products and processes (whether existing or contemplated), or any of its executives, clients, agents or suppliers, information relating to software programs, source codes or object codes; computer systems; computer systems analyses; testing results; flow charts and designs; product specifications and documentation; user documentation; sales plans; sales records; sales literature; customer lists and files; research and development projects or plans; marketing and merchandising plans and strategies; pricing strategies; price lists; sales or licensing terms and conditions; consulting sources; supply and service sources; procedure or policy manuals; legal matters; financial statements; financing methods; financial projections; and the terms and conditions of business arrangements with its parent, clients, suppliers, banks, or other financial institutions.
(c)    Covenant Not To Compete.  In exchange for the consideration payable to Executive pursuant to Sections 9(a)-(c), Executive hereby agrees that during employment and for a period of two years thereafter (the “Restricted Period”) (other than on behalf of Employer or its affiliates), Executive shall not provide the same or substantially the same services to a Competing Business (as defined below) anywhere in the Restricted Area (as 

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defined below), regardless of whether these services are provided as a principal, agent, employee executive, consultant, or volunteer; provided, however, that mere ownership of securities having no more than one percent of the outstanding voting power of any Competing Business listed on any national securities exchange or traded actively in the national over-the-counter market shall not be deemed to be in violation of this Agreement so long as Executive otherwise complies with the terms of this provision.
“Restricted Area” shall mean each and every current market throughout the United States in which Employer conducts business.  The term “Restricted Area” shall also include any potential markets that Executive is directly or indirectly involved in helping develop on behalf of Employer during the 12 months immediately preceding Executive’s termination of employment.  The term “Competing Business” shall have the same definition as set forth in Section (d) below.
(d)    Non-Solicitation of Customers.  Executive hereby agrees that, during the Restricted Period (other than on behalf of Employer or its affiliates), Executive shall not in any way directly or indirectly, for the purpose of conducting or engaging in a Competing Business:
		
	(i)
	solicit any business from, or attempt to sell any products or services, or to call upon or solicit any customer or client of Employer then-existing, or any Past customer of Employer, or any affiliate of Employer that Executive had direct or indirect contact while employed with Employer;

		
	(ii)
	assist, cooperate or encourage any third party to do any of the foregoing.

For purposes of this Section 11(c) and (d), the term “Past” customer or “Past” licensee shall refer to any former customer or licensee of Employer or any affiliate within one year of their having ceased to be a customer or licensee of Employer or any affiliate.  “Competing Business” means the business of developing, designing, publishing, marketing, maintaining or distributing databases and software applications which are competitive with products or services of Employer, are generally referred to as “single family or multi-tenant real estate management applications” and are generally used at apartment communities by personnel engaged in the operation, screening, call center, leasing, pricing, promotion and maintenance of apartment units.  Without limitation of the foregoing, single family or multi-tenant real estate management applications, data bases, software and services shall include software used in prospecting, selling or screening potential residents, performing property management or accounting functions, providing pricing information or performing market research, communicating via the Internet with applicants, residents, service providers, suppliers and advertising providers, facilitating or providing billing, payments and cash management services, vendor screening and vendor compliance services, providing energy management or convergent billing services and producing, soliciting and/or assisting with the solicitation of insurance products or services or developing, marketing or selling a single family or multi-tenant vendor network solution.

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(e)    Non-Solicitation of Licensees.  Executive hereby agrees that, during the Restricted Period (other than on behalf of Employer or its affiliates), Executive shall not in any way directly or indirectly, for the purpose of conducting or engaging in a Competing Business:
		
	(i)
	solicit any business from, or attempt to sell any products or services, or to call upon or solicit any licensee of Employer then-existing, or any Past licensee of Employer, or any affiliate of Employer that Executive had direct or indirect contact while employed with Employer;

		
	(ii)
	assist, cooperate or encourage any third party to do any of the foregoing.

For purposes of this Section 11(e), the term “Past” customer or “Past” licensee shall refer to any former customer or licensee of Employer within one year of their having ceased to be a customer or licensee of Employer.
(f)    Non-Interference with Employees.  Executive hereby agrees, during the Restricted Period, not to, directly or indirectly, solicit or induce any of Employer’s or any affiliate of Employer’s then-existing employees, representatives, consultants or agents to give up employment with or representation of Employer or any affiliate.  If Employer terminates the employment or services of any such individual, Executive may thereafter hire such individual.
(g)    Non-Interference with Business Relationships.  Executive hereby agrees, during the Restricted Period, that Executive shall not, directly or indirectly, for the purpose of conducting or engaging in a Competing Business, utilize Employer Confidential Information to interfere with, impair, or adversely affect any contractual relationships or business relationships between Employer and any of the technology or distribution companies with whom Employer or any affiliate has strategic relationships.
(h)    Non-Disparagement.  Executive hereby agrees that during the Employment Period and at all times thereafter, Executive shall not disparage either orally or in writing Employer or any affiliate, their products or services, or their officers, directors, or employees.  Employer hereby agrees that during the Employment Period and at all times thereafter it shall instruct its directors and officers not to disparage Executive orally or in writing.   This Section 11(h) shall not be violated by truthful statements in response to legal process, testifying in any legal or administrative proceeding, or responding to inquiries or requests for information by any regulator or auditor.
(i)    Injunctive Relief.  Executive recognizes and agrees that the injury Employer will suffer in the event of a breach of this Section 11 may cause Employer irreparable injury that cannot adequately be compensated by monetary damages alone.  Therefore, in the event of a breach of this Section 11 by Executive, or any attempted or threatened breach, Executive agrees that Employer, without limiting any legal or equitable remedies available to it, may be entitled to equitable relief by preliminary and permanent injunction or otherwise, without the necessity of posting any bond or undertaking, against Executive and/or the business 

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enterprise with which Executive may have become associated, from any court of competent jurisdiction.
12.    Reasonableness of Restrictions.  Executive understands and acknowledges that Employer would not have entered into the Employment Agreement, unless and until it had secured from Executive assurance that Executive would become and remain, until the Date of Termination, as an executive of Employer in accordance with the terms and conditions hereof including the specific restriction on disclosure of confidential information in accordance with the terms of Section 11 hereof.  Executive expressly acknowledges and agrees that the covenants and restrictive agreements contained in this Agreement are reasonable as to scope, location, and duration and that observation thereof will not cause Executive undue hardship or unreasonably interfere with Executive’s ability to earn a livelihood and practice Executive’s present skills and trades.  Executive has consulted with legal counsel of Executive’s own selection regarding the meaning of such covenants and restrictions, which have been explained to Executive’s satisfaction.
13.    Successors; Binding Agreement.
(a)    Employer’s Successors.  Employer shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of its businesses and/or assets (“Transaction”) to assume and agree to perform this Agreement in the same manner and to the same extent that Employer would be required to perform it if no such succession had taken place.  Employer may honor the obligation set forth in the preceding sentence through execution in the course of consummating the Transaction of either a specific assignment and assumption agreement relating to the obligations set forth herein, or a general assignment and assumption agreement.  Failure of Employer to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a material breach of a material provision of this Agreement.  As used in this Agreement, the “Employer” shall mean Employer as hereinbefore defined and any successor to the business and/or assets as aforesaid which executes and delivers the agreement provided for in this Section 13 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law.
(b)    Executive’s Successors.  This Agreement shall not be assignable by Executive.  This Agreement and all rights of Executive hereunder shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.  If Executive should die while any amounts would still be payable to Executive hereunder if Executive had continued to live, all such amounts unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee, or other designee or, if there be no such designee, to Executive’s estate.
14.    Indemnification.  To the fullest extent permitted by law, Employer shall indemnify Executive (including the advancement of legal, accounting and other expert expenses) for any judgments, fines, amounts paid in settlement and reasonable expenses, including attorneys’ fees, incurred by Executive in connection with the defense of any lawsuit or other claim to which 

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Executive is made a party by reason of performing Executive’s responsibilities as an officer or executive of Employer or any of its subsidiaries; except that, Employer shall have no such duty of indemnification with regard to claims or suits brought, for any reason, against Executive by any former employer of Executive.
15.    Notice.  For the purposes of this Agreement, notices, demands and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given either (a) when delivered to a national overnight delivery service or (unless otherwise specified) mailed by United States certified or registered mail, return receipt requested, postage prepaid, addressed (i) in the case of notice to Employer, as set forth in the Preamble of this Agreement, attention of Employer’s Chief Executive Officer and Employer’s Chief Legal Officer and (ii) in the case of notice to Executive, to the address then current in Employer’s records, or to such other address as any party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt, or (b) by e-mail to Employer e-mail address of (i) in the case of notice to Employer, Employer’s Chief Executive Officer and Employer’s Chief Legal Officer and (ii) in the case of notice to Executive, Executive.  No notices may be given via facsimile transmission.
16.    Severability.  Should any term, condition, provision or part of this Agreement be found to be unlawful, invalid, illegal or unenforceable, that portion shall be deemed null and void and severed from the Agreement for all purposes, but such illegality, or invalidity or unenforceability shall not affect the legality, validity or enforceability of the remaining parts of this Agreement, and the remainder of the Agreement shall remain in full force and effect, unless such would be manifestly inequitable or would serve to deprived either party of a material part of what it bargained for in entering in this Agreement.
17.    Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.
18.    Withholding.  Notwithstanding any other provision of this Agreement, Employer may withhold from amounts payable under this Agreement all federal, state, local and foreign taxes that are required to be withheld by applicable laws or regulations.
19.    Confidential Information and Invention Assignment.  Executive acknowledges that the Confidential Information, Invention Assignment and Arbitration Agreement that Executive has previously executed in Employer’s favor is not superseded hereby and remains in full force and effect.
20.    Outside Fees.  Executive agrees and covenants not to solicit or receive, in connection with Executive’s employment with Employer, any income or other compensation from any third party doing business with Employer, including, without limitation, any supplier, client, customer, or executive of Employer.
21.    Miscellaneous.  No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing signed by Executive and an authorized officer of Employer.  No waiver by any party hereto at any time of any breach by the 

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other parties hereto of, or compliance with, any condition or provision of this Agreement to be performed by any such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.  Any termination of Executive’s employment or of this Agreement shall have no effect on any continuing obligations arising under this Agreement, including without limitation, the right of Executive to receive payments pursuant to Section 9 hereof and the obligations of Executive described in Section 11 hereof.
22.    Applicable Law, Venue, Jurisdiction and Arbitration.  This Agreement shall be governed, construed, and enforced in accordance with the laws of the State of Texas, or U.S.  federal law when applicable and supreme (without regard to the principles of conflicts of law).  Any action or proceeding concerning, related to, regarding, or commenced in connection with the Agreement must be brought in a state or federal court located in Dallas, Texas, and the parties to the Agreement hereby irrevocably submit to the personal jurisdiction of such courts and waive any objection they may now or hereafter have as to the venue of any such action or proceeding brought in any such court, or that any such court is an inconvenient forum.
(a)    Arbitration Option.  Either party shall also have the option to submit any disputes between Executive (and Executive’s attorneys, successors, and assigns) and Employer (and its Affiliates, shareholders, directors, officers, employees, agents, successors, attorneys, and assigns) relating in any manner whatsoever to Executive’s employment or termination thereof by either party, including, without limitation, all disputes arising under this Agreement (“Arbitrable Claims”), to binding arbitration in Denton County, Texas, pursuant to the rules of the American Arbitration Association and the arbitration rules set forth in Texas Code of Civil Procedure (the “Rules”).  The arbitrator shall administer and conduct any arbitration in accordance with Texas law, including the Texas Code of Civil Procedure, or U.S. federal law when applicable and supreme.  To the extent that the AAA Employment Rules conflict with Texas or U.S. federal law, Texas or U.S. federal law shall take precedence.  All persons and entities specified in this Section (other than Employer and Executive) shall be considered third-party beneficiaries of the rights and obligations created by this Section on Arbitration.  The decision of the Arbitrator shall be final and binding on the parties and judgment upon the award may be entered in any of the aforementioned courts having jurisdiction over this Agreement.
(b)    Arbitrable Claims.  Arbitrable Claims shall include, but are not limited to, contract (express or implied) and tort claims of all kinds, as well as all claims based on any federal, state, or local law, statute, or regulation, excepting only claims under applicable workers’ compensation law and unemployment insurance claims.  By way of example and not in limitation of the foregoing, Arbitrable Claims shall include (to the fullest extent permitted by law) any claims arising under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act, as well as any claims asserting wrongful termination, harassment, breach of contract, breach of the covenant of good faith and fair dealing, negligent or intentional infliction of emotional distress, negligent or intentional misrepresentation, negligent or intentional interference with contract or prospective economic advantage, defamation, invasion of privacy, and claims related to disability.  The parties shall be eligible to recover in arbitration any and all types 

-14-

of relief that would otherwise be available to them if they brought their claims in a judicial forum.  Executive understands that this Agreement does not prohibit Executive from pursuing an administrative claim with a local, state, or federal administrative body or government agency that is authorized to enforce or administer laws related to employment, including, but not limited to, the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission, the National Labor Relations Board, or the Workers’ Compensation Appeals Board.  This Agreement does, however, preclude Executive from pursuing court action regarding any such claim, except as permitted by law.
(c)    Procedure.
		
	(i)
	Initiation.  Arbitration of Arbitrable Claims shall be in accordance with the Employment Rules and Mediation Procedures of the American Arbitration Association as amended (“AAA Employment Rules”), as augmented in this Agreement.  Arbitration shall be initiated as provided by the AAA Employment Rules, although the written notice to the other party initiating arbitration shall also include a statement of the claim(s) asserted and the facts upon which the claim(s) are based.  Either party may bring an action in court to compel arbitration under this Agreement and to enforce an arbitration award.

		
	(ii)
	Binding Arbitration.  Arbitration shall be final and binding upon the parties and shall be the exclusive forum for all Arbitrable Claims, except for any appeals or enforcement of an arbitration award.  Should one party select arbitration pursuant to this Agreement, then no other party shall initiate or prosecute any lawsuit or administrative action on overlapping issues of law or fact, unless the rights or obligations of third parties not subject to being determined in such arbitration are affected or must be determined in order for there to be a complete determination of the controversy, in which event the arbitration may be stayed or dismissed pending determination of the parties’ rights in a different forum where appropriate third parties are joined.

		
	(iii)
	Venue.  All arbitration hearings under this Agreement shall be conducted in Denton County, Texas.

		
	(iv)
	Arbitrator’s Decision Must Be In Writing.  The decision of the arbitrator shall be in writing and shall include a statement of the essential conclusions and findings upon which the decision is based.

(d)    Waiver of Jury Trial.  THE PARTIES HEREBY WAIVE ANY RIGHTS THEY MAY HAVE TO TRIAL BY JURY IN REGARD TO ARBITRABLE CLAIMS, INCLUDING WITHOUT LIMITATION ANY RIGHT TO TRIAL BY JURY AS TO THE MAKING, EXISTENCE, VALIDITY, OR ENFORCEABILITY OF THE AGREEMENT TO ARBITRATE.

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(e)    Arbitrator Selection and Authority.  All disputes involving Arbitrable Claims shall be decided by a single arbitrator.  The arbitrator shall be selected by mutual agreement of the parties within 30 days of the effective date of the notice initiating the arbitration.  If the parties cannot agree on an arbitrator, then the complaining party shall notify the AAA and request selection of an arbitrator in accordance with the AAA Employment Rules.  The arbitrator shall have only such authority to award equitable relief, damages, costs, and fees as a court would have for the particular claim(s) asserted.  The arbitrator shall have exclusive authority to resolve all Arbitrable Claims, including, but not limited to, whether any particular claim is arbitrable and whether all or any part of this Agreement is void or unenforceable.
(f)    Arbitration Fees.  Employer shall pay the expenses and fees of the arbitrator, together with other expenses of the arbitration incurred or approved by the neutral arbitrator, but excluding an initial filing fee of $100 (payable to AAA), and counsel fees or witness fees or other expenses incurred by a party for Executive’s own benefit.  If the allocation of responsibility for payment of the arbitrator’s fees would render the obligation to arbitrate unenforceable, the parties authorize the arbitrator to modify the allocation as necessary to preserve enforceability.
(g)    Confidentiality.  All proceedings and all documents prepared in connection with any Arbitrable Claim shall be confidential and, unless otherwise required by law, the subject matter thereof shall not be disclosed to any person other than the parties to the proceedings, their counsel, witnesses and experts, tax and financial advisors and immediate family members of Executive, the arbitrator, and, if involved, the court and court staff.  All documents filed with the arbitrator or with a court shall be filed under seal.  The parties shall stipulate to all arbitration and court orders necessary to effectuate fully the provisions of this subsection concerning confidentiality.
(h)    Continuing Obligations.  The rights and obligations of Executive and Employer set forth in this Section on Arbitration shall survive the termination of Executive’s employment and the expiration of this Agreement.
23.    Section 409A.
(a)    Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified employee” within the meaning of Section 409A of the Code and the final regulations and any guidance promulgated thereunder (“Section 409A”) at the time of Executive’s termination (other than due to death), and the severance payable to Executive, if any, pursuant to this Agreement, when considered together with any other severance payments or separation benefits which may be considered deferred compensation under Section 409A (together, the “Deferred Compensation Separation Benefits”) will not and could not under any circumstances, regardless of when such termination occurs, be paid in full by March 15 of the year following Executive’s termination, then only that portion of the Deferred Compensation Separation Benefits which do not exceed the Section 409A Limit (as defined below) may be made within the first six months following Executive’s termination of employment in accordance with the payment schedule applicable to each 

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payment or benefit (and such portion shall be payable within such period only to the extent permissible without resulting in tax under Section 409A).  For these purposes, each severance payment is hereby designated as a separate payment and will not collectively be treated as a single payment.  Any portion of the Deferred Compensation Separation Benefits that cannot be paid during such six-month period due to Section 409A shall accrue and, to the extent such portion of the Deferred Compensation Separation Benefits would otherwise have been payable within such six-month period, will become payable on the first payroll date that occurs on or after the date six months and one day following the date of Executive’s termination.  All subsequent Deferred Compensation Separation Benefits, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit.  Notwithstanding anything herein to the contrary, if Executive dies following Executive’s termination but prior to the six-month anniversary of Executive’s termination, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of Executive’s death and all other Deferred Compensation Separation Benefits will be payable in accordance with the payment schedule applicable to each payment or benefit.
(b)    The foregoing provision is intended to comply with the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply.  Employer and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to Executive under Section 409A.
(c)    For purposes of this Agreement, “Section 409A Limit” will mean the lesser of two times: (A) Executive’s annualized compensation based upon the annual rate of pay paid to Executive during Employer’s taxable year preceding Employer’s taxable year of Executive’s termination of employment as determined under Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (B) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which Executive’s employment is terminated.
24.    Entire Agreement.  This sets forth the entire agreement of the parties hereinafter in respect of the subject matter contained herein and supersedes all prior agreements, letters of intent, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by an officer, executive or representative of any party hereto; and any prior agreement of the parties hereto in respect to the subject matter contained herein, including the Prior Agreement.  Executive acknowledges and agrees that no officer, executive or representative of Employer is authorized to offer any term or condition of employment which is in addition to or different than those set forth in this Agreement.
[Signature Page Follows]

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-18-

IN WITNESS WHEREOF, the parties, intending to be legally bound, have executed this Agreement as of the Effective Date.
REALPAGE, INC.

By: /s/ Stephen T. Winn    
Name:        Stephen T. Winn
Title:        Chief Executive Officer

EXECUTIVE: 

/s/ William Chaney                    
William Chaney

    

Exhibit A

[See attached form of General Release and Separation Agreement.] 

-2-

FORM OF GENERAL RELEASE AND SEPARATION AGREEMENT
This General Release and Separation Agreement (“Agreement”) is made and entered into by and between [NAME], a resident of [STATE] (“Employee”), and RealPage, Inc., a Delaware corporation (“Company”), in full and final settlement of any and all claims that Employee may have against Company and any and all claims that Company may have against Employee.  This Agreement shall become effective on the eighth day after Employee signs and delivers this Agreement to Company (the “Effective Date”), provided that Employee does not revoke this Agreement prior to such date pursuant to Paragraph 3(f)(iv) below and provided further that Employee signs this Agreement on or before the fiftieth day following the Termination Date (as defined below).   
1.    Termination as Executive of RealPage, Inc.  Employee acknowledges and agrees that Employee’s employment with Company  in any capacity terminated effective [DATE] (the “Termination Date”).  Regardless of whether Employee executes this Agreement, (a) Company will pay Employee, on or before the Termination Date, the Accrued Amounts (as defined in the Amended and Restated Employment Agreement, dated as of January 1, 2015, by and among Company and Employee (the “Employment Agreement”)) and (b) nothing contained herein shall be deemed to affect Employee’s right to vested benefits (if any) under Company’s 401(k) plan or with respect to health benefit continuation in accordance with the federal law known as COBRA.
2.    Consideration for Agreement from Company.  In return for this Agreement, and in full and final settlement, compromise, and release of any and all claims that Employee has or may have against the Released Parties (as defined below in Paragraph 3), including Company (as described in Paragraph 3 below), and provided that Employee complies with the obligations under this Agreement, Employer shall pay and provide Employee the payments and benefits described in Sections 9(a)(i)-(ii) of the Employment Agreement.
3.    General Release.
(a)    Except as expressly set forth in this Agreement, Employee, on behalf of Employee and Employee’s spouse, heirs, descendants, administrators, representatives and assigns, hereby releases, forever discharges and covenants not to sue, Company, its past, present and future parents, subsidiaries, divisions, affiliates, and each of its and their respective predecessors, successors and assigns, and each of their past, present and future employees, officers, directors, agents, insurers, members, partners, joint venturers, employee welfare benefit plans, employee pension benefit plans and deferred compensation plans, and their trustees, administrators and other fiduciaries, and all persons acting by, through, under or in concert with them, or any of them (the “Released Parties”), of, from, and with respect to any action, cause of action, in law or in equity, suit, debt, lien, contract, agreement, obligation, promise, liability, claim, demand, damage, loss, cost or expense, of any nature whatsoever, known or unknown, suspected or unsuspected, or fixed or contingent (hereinafter called “Claims”), which Employee now has or may hereafter have against the Released Parties, or any of them, by reason of any act, omission, matter, cause or thing whatsoever occurring from the beginning of time through the date Employee signs this Agreement.  Employee understands that this release includes, without limitation:

[Signature Page – Chaney Employment Agreement]

		
	•
	Claims arising out of or by virtue of or in connection with Employee’s employment with Company or any of the Released Parties, the terms and conditions of that employment, or the termination of that employment.  This release includes (but is not limited to) Claims for breach of contract and common law Claims for wrongful discharge; assault and battery; negligence; negligent hiring, retention and/or supervision; intentional or negligent invasion of privacy; defamation; intentional or negligent infliction of emotional distress; violations of public policy; or any other law grounded in tort, contract or common law.  With the exception of any Claims covered by Paragraph 3(b) of this Agreement, this release further includes (but is not limited to) statutory Claims for failure to pay wages and/or overtime, unlawful harassment, and unlawful retaliation, Claims arising under federal, state or local laws, statutes or orders or regulations that relate to the employment relationships and/or prohibiting employment discrimination or any other federal, state or local law, including, but not limited to, Claims under the following statutes:

		
	•
	Title VII of the Civil Rights Act of 1964, as amended in 1991;

		
	•
	Section 1981 of the Civil Rights Act of 1866, as amended;

		
	•
	42 U.S.C. Sections 1981 - 1988;

		
	•
	The Age Discrimination in Employment Act;

		
	•
	The Employee Income Retirement Security Act;

		
	•
	The Fair Labor Standards Act;

		
	•
	The Americans With Disabilities Act;

		
	•
	The Family and Medical Leave Act;

		
	•
	The National Labor Relations Act;

		
	•
	The Fair Credit Reporting Act;

		
	•
	The Immigration Reform Control Act;

		
	•
	The Occupational Safety & Health Act;

		
	•
	The Equal Pay Act;

		
	•
	The Uniformed Services Employment and Reemployment Rights Act;

		
	•
	The Worker Adjustment and Retraining Notification Act;

		
	•
	The Employee Polygraph Protection Act;

		
	•
	The Texas Labor Code;

-2-

		
	•
	Any state or federal consumer protection and/or trade practices act; and

		
	•
	Any state or federal workers’ compensation or disability, to the maximum extent permitted by law.

(b)    Exceptions to Release by Employee: Excluded from this Agreement are (i) Claims with respect to the breach of any covenant to be performed by Company after the date of this Agreement  and (ii) any Claims that cannot be waived by law, including, but not limited to, the right to file a charge with or participate in an investigation conducted by the Texas Workforce Commission or the Equal Employment Opportunity Commission (the “EEOC”).  Employee is waiving, however, Employee’s right to any monetary recovery or relief should the Texas Workforce Commission or EEOC or any other agency pursue any Claims on Employee’s behalf. 
(c)    Employee represents and warrants that Employee has not assigned or transferred to any third party any interest in any Claim which Employee may have against the Released Parties, or any of them, and Employee agrees to indemnify and hold the Released Parties, and each of them, harmless from any liability, claims, demands, damages, costs, expenses and attorneys’ fees incurred by them, or any of them, as a result of any such assignment or transfer.
(d)    Employee represents and warrants that Employee has not asserted, filed or otherwise taken actions to initiate any Claim in any federal, state or local court, administrative agency, arbitral forum, or any other forum.
(e)    If any Claim is not subject to release, to the extent permitted by law, Employee waives any right or ability to be a class or collective action representative or to otherwise participate in any putative or certified class, collective or multi-party action or proceeding based on such a Claim in which Company or any of the Releasees identified in this Agreement is a party. 
(f)    Waiver Of Age Discrimination Claims:  Employee expressly acknowledges and agrees that, by entering into this Agreement, Employee is waiving any and all rights or Claims that Employee may have arising under the Age Discrimination in Employment Act, as amended (the “ADEA”), which have arisen on or before the date of execution of this Agreement.  Employee further expressly acknowledges and agrees that:
(i)    In return for this Agreement, Employee will receive compensation beyond that which Employee was already entitled to receive before entering into this Agreement;
(ii)    Employee is hereby advised in writing by this Agreement to consult with an attorney before signing this Agreement and Employee fully understands the significance of all the terms and conditions of this Agreement and has discussed them with Employee’s attorney (or Employee has had a reasonable opportunity to discuss the terms and conditions of this Agreement with an attorney, if desired) prior to signing this Agreement;
(iii)    Employee is hereby informed that Employee has 21 days within which to consider this Agreement and that if Employee signs it prior to the end of such 21-day period, 

-3-

Employee will have done so voluntarily and with full knowledge that Employee is waiving the right to have 21 days to consider this Agreement;
(iv)    Employee is hereby advised that Employee has seven (7) days following the date of execution of this Agreement in which to revoke in writing the release of rights or Claims Employee may have arising under the ADEA.  Any revocation must be in writing and must be received by Company’s Chief Legal Officer, during the seven-day revocation period.  In the event that Employee exercises Employee’s right of revocation, all other releases and obligations under this Agreement shall not be valid or enforceable;
(v)    Nothing in this Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs from doing so, unless specifically authorized by federal law;
(vi)    Employee has carefully read this Agreement, acknowledges that Employee has not relied on any representation or statement, written or oral, not set forth in this Agreement or the Employment Agreement; and
(vii)    Employee represents and warrants that Employee is signing this release knowingly and voluntarily.
4.    Company Release.  
(c)    In consideration of the Employee’s execution and non-revocation of this Agreement, and for other good and valuable consideration, receipt of which is hereby acknowledged, Company, on behalf of itself and each of its subsidiaries, hereby releases, forever discharges and covenants not to sue Employee with respect to and from any Claim which Company or its applicable subsidiary now has or may hereafter have against Employee by reason of any act, omission, matter, cause or thing whatsoever occurring from the beginning of time through the date Employee signs this Agreement; provided, however, that this release excludes (i) any Claims that cannot be waived by law, (ii) Claims with respect to the breach of any covenant to be performed by Employee after the date of this Agreement and (iii) Claims based upon Employee’s willful misconduct.
(d)     Company represents and warrants that Company has not assigned or transferred to any third party any interest in any Claim which Company may have against Employee, and Company agrees to indemnify and hold Employee  harmless from any liability, claims, demands, damages, costs, expenses and attorneys’ fees incurred by Employee as a result of any such assignment or transfer.
(e)    Company represents and warrants that Company has not asserted, filed or otherwise taken actions to initiate any Claim against Employee in any federal, state or local court, administrative agency, arbitral forum, or any other forum.
5.    Continuing Obligations Contained in Other Documents and Return of Company Property.  Employee agrees and acknowledges that Employee has complied, and will continue to comply, with 

-4-

the obligations under this Agreement and the Employment Agreement (including, without limitation, the restrictive covenants set forth in Section 11 of the Employment Agreement).  Company agrees and acknowledges that Company has complied, and will continue to comply, with the obligations under this Agreement and the Employment Agreement (including, without limitation, the non-disparagement covenant set forth in Section 11(h) of the Employment Agreement).  In addition, Employee shall return to Company all Company property in Employee’s possession, custody or control on or before the Termination Date.
6.    Waiver of Breach.  A waiver by Employee or Company of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any subsequent breach by either party.
7.    No Admission of Liability.  Employee  and Company understand and acknowledge that this Agreement constitutes a compromise and settlement of any and all potential disputed Claims that Employee may have against Company and the Released Parties and that Company may have against Employee.  Neither this Agreement nor any action taken by Employee or Company (or any of its parent, subsidiary or affiliated entities), either previously or in connection with this Agreement, shall be deemed or construed to be: (a) an admission of the truth or falsity of any potential Claims; (b) an acknowledgment or admission by Company of any fault or liability whatsoever to Employee or to any third party; or (b) an acknowledgment or admission by Employee of any fault or liability whatsoever to Company or to any third party.  Neither this Agreement nor anything in this Agreement shall be construed to be, or shall be admissible in any proceeding as, evidence of liability or wrongdoing by Employee, Company or any other Released Party.
8.    Miscellaneous.  Sections 13 (“Successors, Binding Agreement”), 15 (“Notice”), 16 (“Severability”), 17 (“Counterparts”), 21 (“Miscellaneous”), 22 (“Applicable Law, Venue, Jurisdiction and Arbitration”), 23 (“Section 409A”), and 24 (“Entire Agreement”) of the Employment Agreement shall apply to this Agreement.

[Signature Page to Follow]

-5-

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the dates indicated on the following page.

RealPage, Inc.

By:     
Name:
Title: 
Date:      

EMPLOYEE:

By:     
Name:
Date:      
Address:

-6-Exhibit 10.1

 

Execution

 

 

  

STOCK PURCHASE AGREEMENT

 

BETWEEN

 

STAFFING 360 SOLUTIONS, INC.

(the “SELLER”)

 

AND

 

CYBER 360, INC., a Nevada Corporation

(“NV CYBER 360”)

 

AND

 

MARK P. AIELLO

(“AIELLO”)

 

AND

 

MICHAEL A. CONSOLAZIO and

HEATHER D. HAUGHEY

(the “PURCHASERS”)

 

Effective as of January 1, 2015

 

 

 

    	 

    	 

    

 

Execution

 

STOCK PURCHASE AGREEMENT

 

THIS STOCK PURCHASE
AGREEMENT (the “Agreement”), dated as of February 27, 2015 (the “Closing Date”) and effective as of January
1, 2015 (the “Effective Date”), is by and between Mark P. Aiello (“Aiello”), Michael A. Consolazio (“Consolazio”),
and Heather D. Haughey (“Haughey” and together with Consolazio, the “Purchasers”), Staffing 360 Solutions,
Inc., a Nevada corporation (the “Seller”), and its wholly-owned subsidiary Cyber 360, Inc., a Nevada corporation (“NV
Cyber 360”). Aiello, the Purchasers, the Seller and NV Cyber 360 are collectively referred to herein as the “Parties”
and individually as a “Party.”

 

BACKGROUND

 

On April 26, 2013,
the Seller purchased from Aiello, Consolazio and Haughey all of the issued and outstanding shares of capital stock of The Revolution
Group, Ltd., a Massachusetts corporation (“TRG”) under a Stock Purchase Agreement dated as of March 21, 2013 (the “Original
Sale”). After the Original Sale, the Seller changed TRG’s name to Cyber 360 Solutions, Inc. On or about December 8,
2014, the Seller transferred all of the shares of capital stock of Cyber 360 Solutions, Inc. to the Seller’s wholly-owned
subsidiary, NV Cyber 360 (then known as Staffing 360 Group, Inc. d/b/a Cyber 360 Solutions), so that the Massachusetts corporation,
Cyber 360 Solutions, Inc., became a wholly-owned subsidiary of NV Cyber 360 and an indirect wholly-owned subsidiary of the Seller.
On January 29, 2015 the name of the Massachusetts Cyber 360 Solutions, Inc. was changed to Cyber 360, Inc. Therefore, as of the
date of this Agreement, NV Cyber 360, a Nevada corporation owns the Massachusetts corporation of the same name. As used in this
Agreement, Massachusetts Cyber 360, Inc. is referred to as “MA Cyber 360” and, together with NV Cyber 360, as the “Companies”
or individually as a “Company.”

 

This Agreement reflects
a transaction in which, as of the Effective Date, the Purchasers will “repurchase” MA Cyber 360 (formerly TRG), by
purchasing from the Seller all of the issued and outstanding shares of capital stock in NV Cyber 360 so that, upon consummation
of the transaction, the Purchasers will own directly NV Cyber 360 and, indirectly, MA Cyber 360 (the “Acquisition”).
Except to the extent set forth in this Agreement, all agreements executed in connection with the Original Sale and all other agreements
between the Parties and the Seller will terminate upon the consummation of the Acquisition.

 

Now, therefore, in
consideration of the premises and the mutual promises herein made, and in consideration of the representations, warranties, and
covenants herein contained, the Parties agree as follows:

 

    	 

    	 

    

 

ARTICLE I

 

Definitions

 

1.1Definitions.
In addition to the capitalized terms defined elsewhere in this Agreement, including the recitals and background hereto, the following
capitalized terms, when used herein, shall have the following meanings:

 

“Acquisition”
has the meaning set forth in the second paragraph under the heading “Background” above.

 

“Affiliate”
means, with respect to a specified Person, any other Person or member of a group of Persons acting together that, directly or indirectly,
through one or more intermediaries, Controls, or is Controlled by or is under common Control with, the specified Person.

 

“Agreement,”
“this Agreement,” “hereto,” “hereof,” “hereunder,” “hereby,”
and similar expressions refer to this Stock Purchase Agreement, including all exhibits attached hereto, and not any particular
article, section, subsection or other subdivision hereof or thereof.

 

“Aiello
Employment Agreement” has the meaning set forth in Section 2.4(c) hereof.

 

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

 

“Closing”
means the consummation of the Acquisition.

 

“Closing Date”
has the meaning set forth in the first paragraph of this Agreement.

 

“Consents”
has the meaning set forth in Section 3.12 hereof.

 

“Control”
(including the terms “Controlling,” “Controlled By,” and “under Common Control With”) means
the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of voting securities, by contract, by position or otherwise.

 

“Earn Out”
has the meaning set forth in the Original SPA.

 

“Effective
Date” has the meaning set forth in the first paragraph of this Agreement.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Governmental
Body” means any federal, state or local governmental body or political subdivision thereof, and any agency or other entity
exercising executive, legislative, judicial, regulatory or administrative functions of government, including, without limitation,
all taxing authorities.

 

    	-2-

    	 

    

 

“Indebtedness”
has the meaning set forth in Section 3.9 hereof.

 

“Lien”
means any interest, consensual or otherwise, in property securing a monetary obligation owed to, or a claim by, a Person other
than the owner of the Property, whether such interest is based on the common law, statute or contract, including without limitation,
all liens, mortgages, security interests, pledges, deeds of trust, statutory liens for unpaid rentals, options or other charges
and encumbrances.

 

“Material”
or “Materially” (Capitalized) means (a) a contract with a value in excess of Fifty Thousand Dollars ($50,000),
or (b) an effect on the identified company in excess of Fifty Thousand Dollars ($50,000). 

 

“material”
or “materially” (not capitalized) means (a) a contract with a value in excess of Twenty-Five Thousand Dollars ($25,000),
or (b) an effect on the identified company in excess of Twenty-Five Thousand Dollars ($25,000). 

 

“Material
Adverse Change” or “Material Adverse Effect” means any change, effect, event, occurrence or state
of facts that is, or is reasonably likely to be, Materially adverse to the business and/or financial condition, assets, results
of operations or prospects of the Seller, NV Cyber 360 or MA Cyber 360, other than any change, effect, event, occurrence or state
of facts relating to the economy in general.

 

“Maximum Number
of Securities” has the meaning set forth in Section 5.8(a) hereof.

 

“Original
Sale” has the meaning set forth in the paragraph entitled “Background” on the first page of this Agreement.

 

“Original
SPA” has the meaning set forth in Section 2.3 hereof.

 

“Permitted
Lien” has the meaning set forth in Section 3.8 hereof

 

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

 

“Piggy-Back
Registration” has the meaning set forth in Section 5.8(a) hereof.

 

“Prohibited
Transfer” has the meaning set forth in Section 5.7 hereof.

 

“Purchase
Price” has the meaning set forth in Section 2.2 hereof.

 

“Registration
Damages” has the meaning set forth in Section 5.8(d)(i) hereof.

 

“S360 Shares”
has the meaning set forth in Section 2.3 hereof.

 

“Shares”
has the meaning set forth in Section 2.1 hereof.

 

“Representative”
means, as to any Person, such Person’s Affiliates and its and their respective managers, directors, officers, employees,
agents and advisors (including financial advisors, counsel and accountants).

 

    	-3-

    	 

    

 

“SEC”
means the Securities and Exchange Commission.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Selling Expenses”
has the meaning set forth in Section 5.8(a) hereof.

 

“Sterling
Bank Agreements” means the Money-Only Funding Agreements dated as of January 14, 2013 and May 7, 2013, and the Cash Collateral
Pledge Agreement dated as of January 14, 2013, all by and between Sterling National Bank and NV Cyber 360, and all other documents
and agreement executed in connection therewith.

 

“Subsidiary”
means, as to any particular parent corporation, any corporation, partnership, trust, joint venture, limited liability company,
association, or other business entity as to which more than fifty percent (50%) of the outstanding stock or equity interests having
ordinary voting rights or power at the time is owned or Controlled by such parent corporation or by one or more Subsidiaries of
such parent corporation.

  

ARTICLE II

 

Purchase and Sale of Shares

 

2.1Purchase of Shares. On
the terms and subject to the conditions set forth in this Agreement, including without limitation the payment of the Purchase Price,
receipt of which is hereby acknowledged, as of the Effective Date the Seller hereby sells, assigns, transfers, conveys and delivers
to the Purchasers, and the Purchasers hereby purchase, acquire and take assignment and delivery of, One Thousand (1,000) shares
of capital stock of Cyber 360, Inc., a Nevada corporation (“NV Cyber 360”), which constitute one hundred percent (100%)
of the issued and outstanding shares of capital stock of NV Cyber 360 (the “Shares”). The Purchasers are purchasing
such Shares in the proportions set forth on Exhibit A attached hereto and made a part hereof.

 

2.2Delivery
of Purchase Price and Shares. The purchase price for the Shares in the aggregate is one U.S. dollar ($1.00) (the “Purchase
Price”). The Purchasers have delivered and paid to the Seller the Purchase Price for the Shares, and the Seller has delivered
to the Purchasers the original stock certificate or certificates for the Shares of NV Cyber 360 being transferred hereunder, duly
endorsed or accompanied by stock powers duly executed and otherwise in a form acceptable for transfer to the Purchasers pro
rata based on the percentages set forth for each Purchaser on Exhibit A hereto.

 

2.3Payment of
Unpaid Portion of Earn Out. In connection with the Acquisition and the termination of the stock purchase agreement, dated as
of March 21, 2013 executed by the Seller, Aiello, and the Purchasers in connection with the Original Sale (the “Original
SPA”) pursuant to Section 2.4 hereof, the parties to the Original SPA have agreed to a final settlement of any remaining
obligations with respect to the Earn Out from the Original Sale by having Seller issue and deliver to the Purchasers One Million
One Hundred Thirty-Four Thousand Fifty (1,134,050) shares of common stock of the Seller (the “S360 Shares”), with each
S360 Share valued as agreed by the Parties at $1 per share. The S360 Shares have been issued pro rata to each Purchaser
in accordance with the amounts set forth on Exhibit A hereto. The S360 Shares will be issued free and clear of all
Liens (subject to Section 5.7). The Purchasers will provide to the Seller any information or documentation reasonably requested
by the Seller in connection with recording their ownership of the S360 Shares. Not later than thirty (30) days after the Closing
Date, the Seller shall deliver to the Purchasers either (i) certificates representing the S360 Shares, or (ii) evidence reasonably
satisfactory to the Purchasers’ counsel that the S360 Shares have been duly issued to each Purchaser and that each Purchaser
is reflected as the owner thereof on the books and records of the Seller.

 

    	-4-

    	 

    

 

The S360 Shares are
fully vested. The S360 Shares have been issued free and clear of all Liens (subject to Section 5.7) and have all rights associated
with the Seller’s common stock issued to or held by the other shareholders of the Seller. The S360 Shares will be entitled
to the registration rights provided in Section 5.8 hereof, but will be subject to the lock-up provided in Section 5.7 hereof.

 

2.4Termination of Original Sale
Agreements. Subject to the payment of the Purchase Price and delivery and receipt of the S360 Shares, the Parties agree that
the following agreements and obligations executed and undertaken in connection with the Original Sale are terminated as of the
Effective Date and are of no further force and effect, and no Party will have any further obligations or liability to the other
in connection with the Original Sale, except as otherwise specifically provided in this Agreement. These include without limitation:

 

(a)Original
Stock Purchase Agreement. All obligations of the Parties under the Original SPA that survived the closing of Original Sale
(including without limitation the representations and warranties and all indemnity obligations set forth therein), are hereby terminated,
void, and are of no further force and effect.

 

(b)Indemnity
Agreement. All obligations of the Parties under the Indemnity Agreement dated as of April 26, 2013 are hereby terminated, void,
and are of no further force and effect.

 

(c)The Aiello
Employment Agreement. Subject to the exceptions set forth in the last sentence of this Section 2.4(c), all obligations of the
Parties under the Employment Agreement dated as of March 21, 2013 by and between the Seller and Mark P. Aiello (the “Aiello
Employment Agreement”), including without limitation, Aiello’s covenant of non-competition and non-solicitation, are
hereby terminated, void, and are of no further force and effect. The Parties specifically agree that the Seller’s obligation
under Section 8 “Indemnification and Insurance” of the Aiello Employment Agreement, remains in effect with respect
to events that occurred on or prior to the Effective Date of this Agreement.

 

(d)Restrictive
Covenants. The obligations of Haughey and Consolazio under their respective Restrictive Covenants executed and delivered in
connection with the Original Sale (the “Restrictive Covenants”), including without limitation, obligations of non-competition
and non-solicitation, are hereby terminated, void, and are of no further force and effect.

 

    	-5-

    	 

    

 

Nothing is this Agreement is to be construed
as affecting in any manner the right of the Purchasers and Aiello to retain the Cash Portion of the Purchase Price (as defined
in the Original SPA) delivered at the closing of the Original Sale, or the ownership by the Purchasers and Aiello of the Purchaser
Shares (as defined in the Original SPA) that were delivered as part of the purchase price in connection with the closing of the
Original Sale. The Parties hereby acknowledge and agree that notwithstanding any events or circumstances that occurred prior to
the Closing, the Seller has not defaulted or breached any of its obligations under the Original SPA or the Aiello Employment Agreement.

 

2.5No Other Payments. The
Parties acknowledge that, except as set forth in this Agreement, no payments of any kind are owed by either Company to the Seller
or by the Seller to either Company.

 

ARTICLE III

 

Representations and Warranties of the
Seller 

 

The Seller hereby represents
and warrants to the Purchasers that:

 

3.1Organization and Good Standing.
Each of the Seller and NV Cyber 360 has been duly organized and is validly existing as a corporation in good standing under the
laws of the State of Nevada with full corporate power and authority to own or lease its respective properties and to conduct its
respective businesses as currently conducted. MA Cyber 360 is validly existing as a corporation in good standing under the laws
of The Commonwealth of Massachusetts with full corporate power and authority to own or lease its properties and to conduct its
business as currently conducted.

 

3.2Authorization;
Enforceability. Each of the Seller and NV Cyber 360 has all requisite corporate power and authority to execute, deliver and
perform fully its obligations under this Agreement including without limitation to sell, assign, transfer and deliver the Shares
pursuant to this Agreement. All corporate action required to be taken by the Board of Directors and shareholders of the Seller
and/or NV Cyber 360 in order to authorize the execution and performance of this Agreement by such Party has been taken. This Agreement
constitutes the legal, valid and binding obligation of the Seller and NV Cyber 360, enforceable against each of them in accordance
with its terms except as such enforcement may be limited by bankruptcy, insolvency and other similar laws affecting the enforcement
of creditors’ rights generally, and by general equitable principles.

 

3.3Capitalization. The authorized,
issued and outstanding capital stock of NV Cyber 360 consists solely of those Shares shown on Exhibit A hereto. The
Shares constitute all of the issued and outstanding equity securities of NV Cyber 360. The Shares have been duly authorized and
validly issued and are outstanding, fully paid and non-assessable. The authorized, issued and outstanding capital stock of MA Cyber
360 consists solely of those shares shown on Exhibit A hereto. The shares of MA Cyber 360 capital stock listed on
Exhibit A constitute all of the issued and outstanding equity securities of MA Cyber 360. There are no outstanding
options, warrants, rights (including conversion or preemptive rights and rights of first refusal or similar rights) or agreements,
orally or in writing, to purchase or acquire from either Company any shares of any class of capital stock, or any securities or
other instruments convertible into or exchangeable for shares of capital stock of such Company, and no commitments to issue any
such securities or instruments.

 

    	-6-

    	 

    

 

3.4Ownership
of Shares. The Seller owns of record and beneficially all of the Shares, and has good and valid title to the Shares free and
clear of all liens, trusts (constructive and other), adverse claims and other encumbrances. Upon delivery of the Shares and payment
of the Purchase Price pursuant to this Agreement, the Purchasers will receive good and valid title to the Shares, free and clear
of all Liens (other than those imposed by applicable securities laws). NV Cyber 360 owns of record and beneficially all of the
issued and outstanding shares of capital stock of MA Cyber 360, and has good and valid title to such shares free and clear of all
Liens (other than those imposed by applicable securities laws).

 

3.5S360 Shares.
The S360 Shares have been duly authorized by all necessary action, and are validly issued, fully paid and non-assessable and free
and clear of all Liens (other than those imposed by applicable securities laws and subject to Section 5.7).

 

3.6Subsidiaries. MA Cyber
360 is a wholly-owned subsidiary of NV Cyber 360, and NV Cyber 360 has no Subsidiaries other than MA Cyber 360. MA Cyber 360 has
no Subsidiaries.

 

3.7No Conflicts.
The execution, delivery and performance of this Agreement by the Seller and NV Cyber 360 and the consummation of the transactions
contemplated hereby will not (i) conflict with or result in a breach or violation of any term or provision of, or constitute a
default under, the charter or bylaws of the Seller or either Company, or (ii) violate or conflict with any law or order to which
the Seller or either Company is subject.

 

3.8Title to Property: Encumbrances.
Each Company has good, clear and marketable title to all real and personal property, free and clear of all Liens except Permitted
Liens. The term “Permitted Liens,” as used in this Agreement, shall mean (i) statutory liens for taxes or assessments
not at the time due, (ii) liens in respect of pledges or deposits under workers’ compensation laws or similar legislation,
(iii) carriers’, warehousemen’s, mechanics’, laborers’ and material men’s liens if the obligations
secured by such liens are not then delinquent, (iv) encumbrances in the nature of zoning restrictions, easements, rights or restrictions
of record on the use of real property if the same do not detract from the value of the property encumbered thereby or impair the
use of such property in the business of the Companies, (v) liens by Sterling Bank under the Sterling Bank Agreements, and (vi)
security interests in favor of the respective landlords of the Companies that may exist under the terms of real property leases
for office space of the Companies. The Parties will use their best efforts in good faith to terminate the Sterling Bank Agreements
within fifteen (15) days after Closing Date, so that all Liens on the assets of the Companies in favor of Sterling National Bank
will terminate within sixty (60) days after the Closing Date.

 

3.9 Indebtedness.
Other than any Indebtedness incurred under the Sterling Bank Agreements, neither Company has any liability or obligation for Indebtedness,
The term “Indebtedness”, as used in this Agreement, shall mean: (a) any liability of a Company created or assumed by
such Company: (i) for borrowed money; (ii) evidenced by a bond, note, debenture or similar instrument (including a purchase money
obligation, deed of trust or mortgage) given in connection with the acquisition of, or exchange for, any property or assets (other
than inventory or similar property acquired and consumed or to be consumed in the ordinary course of such Company’s business),
including securities and debt instruments; (iii) in respect of letters of credit issued for a Company’s account and “swaps”
of interest and currency exchange rates (and other interest and currency exchange rate hedging agreements) to which such Company
is a party; or (iv) for the payment of money as lessee under leases that are consistent with the past practice of the Companies
recorded as capital leases for financial reporting purposes; and (b) any amendment, renewal, extension, revision or refunding of
any such liability or obligation; provided, however, that Indebtedness shall not include any liability for: (1) compensation of
Company employees in the ordinary course of business; (2) interest that has been accrued and is not yet due and payable; (3) inventory
or similar property acquired and consumed or to be consumed in the ordinary course of a Company’s business; (4) services
in the ordinary course of business; (5) rent or other amounts payable under real or personal property leases that have been as
disclosed elsewhere herein, other than capital leases as described in subsection (a)(iv) above; (6) amounts payable on credit cards
to the extent used to acquire inventory or similar property; and (7) utility bills, property taxes and other accounts payable.
The Parties will use their best efforts in good faith to terminate the Sterling Bank Agreements within fifteen (15) days after
Closing Date.

 

    	-7-

    	 

    

 

3.10No Litigation.
There is no claim, legal action, suit, arbitration, or mediation proceeding or other legal, administrative or governmental investigation,
inquiry or proceeding pending or, to the actual knowledge of the executive officers of the Seller threatened in writing, (i) against
or affecting the Companies or any of their respective properties, assets or business, or to which any capital stock of the Companies
is subject, or relating to or which would prevent the transactions contemplated by this Agreement or the consummation hereof, or
(ii) against or affecting the Seller or any of its properties, assets or business relating to, or which would negatively affect
or prevent the transactions contemplated by this Agreement or the consummation hereof.

 

3.11Income and
Other Taxes. Except as described in Schedule 3.11 attached hereto and made a part hereof, all federal, state and local tax
returns required to be filed with any governmental tax authority to date in connection with the operations of NV Cyber 360 and
MA Cyber 360 have been timely filed (after giving effect to applicable extensions properly granted by law), and all taxes required
to be paid, and required to be deposited to date in connection with their respective operations have been timely paid and deposited.
All of the information that the Companies use for their respective income tax returns for the period of April 26, 2013 through
the Effective Date is true and correct in all material respects and reasonably will enable the Companies’ tax preparers to
prepare such returns consistently with the income tax returns of prior periods. No audit, examination or similar proceeding is
pending or, to the knowledge of the Seller, threatened in regard to any taxes due from or with respect to either Company or any
tax return filed by or with respect to either Company.

 

3.12 Consents.
No consents, authorizations, order or approvals of or registration, qualification, designation, declaration or filing with any
court, Governmental Body or agency or instrumentality thereof or any arbitrator or any other Person (“Consents”) is
required for the execution and delivery of this Agreement by the Seller or NV Cyber 360 and the consummation of the transactions
contemplated hereby.

 

    	-8-

    	 

    

 

3.13Books and
Records. NV Cyber 360’s minute book and other books and records are located at such Company’s principal offices,
at 641 Lexington Avenue, Suite 1526, New York, New York 10022. MA Cyber 360’s minute book and other books and records are
located at 641 Lexington Avenue, Suite 1526, New York, New York 10022. The books of account and other financial and corporate records
of each Company are in all material respects complete and correct. The minute book of NV Cyber 360 contains materially accurate
records of all meetings and accurately reflect all other corporate action of the stockholders and directors of such Company through
the date hereof. The minute book of MA Cyber 360 contains materially accurate records of all meetings and accurately reflect all
other corporate action of the stockholders and directors of such Company from April 26, 2013 through the date hereof. The minute
books and other records of both Companies will be delivered to the Purchaser on or promptly after the Effective Date.

 

3.14Legal Compliance.

 

(a)Compliance
with Laws. Neither the Seller nor NV Cyber 360 has received any communication, written or otherwise, during the past three
(3) years from a governmental authority that alleges that the Seller or NV Cyber 360 is not in compliance with any law applicable
to the conduct of its business, the noncompliance with which could reasonably be expected to have a Material Adverse Effect on
NV Cyber 360. MA Cyber 360 has not received any communication, written or otherwise, at any time after April 26, 2013 from a governmental
authority that alleges that MA Cyber 360 is not in compliance with any law applicable to the conduct of its business, the noncompliance
with which could reasonably be expected to have a Material Adverse Effect on NV Cyber 360. Each of the Seller, NV Cyber 360 and
MA Cyber 360 is in compliance, in all material respects, with all laws applicable to the conduct of its business.

 

(b)Permits.
Each of the Seller, NV Cyber 360 and MA Cyber 360 possesses all material certificates, licenses, permits, authorizations and approvals
made or issued pursuant to or under, or required by, laws applicable to such Party to own, lease and operate its assets and to
conduct its respective business as currently conducted.

 

3.15Illegal
Payments. Neither the Seller or the Companies nor, to the knowledge of the Seller, any officer, director or employee of the
Seller or the Companies has: (a) used any funds of such Party for unlawful contributions, gifts, entertainment or other unlawful
expenses relating to political activity; (b) made any payment in violation of applicable Law to any foreign or domestic government
official or employee or to any foreign or domestic political party or campaign or violated any provision of the Foreign Corrupt
Practices Act of 1977, as amended; or (c) made any other payment in violation of applicable Law.

 

3.16No Other
Representations and Warranties. Except for the representations and warranties contained in this Agreement, neither the Seller,
nor the Companies, nor any other Person on behalf of the Seller or the Companies makes or has made any other representation or
warranty, express or implied, at law or in equity, in respect of Seller, the Companies or their respective Affiliates, their respective
businesses, the sale of the Shares or the issuance of the S360 Shares or any of the other transactions contemplated by this Agreement,
and the Seller and NV Cyber 360 hereby expressly disclaim any other representations or warranties, whether made by the Seller,
the Companies or any of their respective Representatives.

 

    	-9-

    	 

    

 

ARTICLE IV

 

Representations and Warranties of
the Purchasers and Aiello

 

Each of the Purchasers
and Aiello hereby severally and not jointly, represent and warrant to the Seller that:

 

4.1Capacity;
Enforceability. Such Party has the legal capacity, to execute, deliver and perform fully his/her obligations under this Agreement.
This Agreement constitutes the legal, valid and binding obligation of such Party, enforceable against such Party in accordance
with its terms except as such enforcement may be limited by bankruptcy, insolvency and other similar laws affecting the enforcement
of creditors’ rights generally, and by general equitable principles.

 

4.2No Conflicts.
The execution, delivery and performance of this Agreement by such Party and the consummation of the transactions contemplated hereby
will not violate or conflict with any law or order to which such Party is subject.

 

4.3No Other Representations
and Warranties. Except for the representations and warranties contained in this Agreement, such Party does not make and has
not made (and no other Person on behalf of such Party makes or has made) any other representation or warranty, express or
implied, at law or in equity, in respect of such Party or its Affiliates, their respective businesses, the purchase of the Shares
or any of the other transactions contemplated by this Agreement.

 

    	-10-

    	 

    

 

ARTICLE V

 

Covenants

 

The Parties hereby covenant as follows:

 

5.1Delivery
of the S360 Shares. Within thirty (30) days after the Closing Date, the Seller will execute and deliver to the Purchasers either
(i) certificates representing the S360 Shares or (ii) evidence reasonably satisfactory to the Purchaser’s counsel that the
S360 Shares have been duly issued to each Purchaser and that each Purchaser is reflected as the owner thereof on the books and
records of the Seller, effective as of the Effective Date.

 

 

5.2Taxes.
The Seller will promptly file, in no event later than ninety (90) days after the Closing Date, all necessary tax returns and will
take all other action necessary or required to bring the Companies current in any state or municipality in which a Company has
not timely filed its tax returns or paid its taxes that are due, and the Seller shall pay to the proper tax authorities all taxes
that are due with respect to the Companies, and all fines or other penalties that may have been or may be assessed by any tax authority
with respect to the Companies due to underpayment of taxes or failure to timely file taxes. In addition, the Seller shall be responsible
for, and shall reimburse the Companies for, any other costs that may be incurred by the Companies in connection with the failure
to file tax returns or pay taxes due on or before the Closing Date. The Seller
will send copies of all such tax filings to NV Cyber 360 as they are made.

 

5.3Covenant
Not to Use Name.

 

(a)The Seller hereby
covenants that, after the Closing the Seller shall not use the name “Cyber”, (or any confusingly similar variations
thereof as a trademark), service mark, trade name, corporate name, logo, slogan, website and Internet domain name for purposes
of conducting or transacting any business, for a period of twenty-four (24) months.

 

(b)The Purchasers
and NV Cyber 360 each hereby covenant that after the date that is twelve (12) months after the Closing (the “Anniversary
Date”) neither the Purchasers nor any of the Companies shall use the number “360” as a trademark, service mark,
trade name, corporate name, logo, slogan, website and Internet domain name for purposes of conducting or transacting any business.
As promptly as practicable after the Anniversary Date, the Purchasers and NV Cyber 360 will take all actions necessary to cause
each of the Companies to change its name to cease using the number “360”, including amending their respective organizational
documents.

 

5.4Intellectual
Property. The Seller acknowledges and agrees that from and after the Effective Date, the Companies will own all assets, all
work product, names, logos, websites, and URLs necessary for the conduct of their business, and from the Effective Date and through
the Anniversary Date will have all rights necessary to use the name “Cyber 360” and all intellectual property in connection
with the name “Cyber 360.”

 

5.5Confidentiality.
The Parties covenant that any confidential or proprietary information (except information filed with the SEC or publicly available
information), respecting any individual Party, the business of any Party or its Affiliates (hereinafter, “Confidential Information”
and such Party or Affiliate owning such Confidential Information, the “Disclosing Party”) will, except as otherwise
agreed in writing by the Disclosing Party, be kept in strict confidence and not used or disclosed by any other Parties to this
Agreement and their respective Representatives; provided that (i) the Parties may disclose Confidential Information of a Disclosing
Party to their attorneys, accountants and professional advisors, as may be necessary to enable such Persons to perform their duties
on behalf of such Party, in which instance such Persons and any other Representatives of such Persons shall be advised of the confidential
nature of such Confidential Information and shall themselves be required by such Party to keep such Confidential Information confidential,
(ii) the Seller may disclose such Confidential Information as it may be required to disclose by applicable law (including any SEC
position) or securities listing or trading requirement and (iii) except as otherwise contemplated by clause (ii) above, in the
event that a Party or its Affiliates becomes legally compelled to disclose any Confidential Information of a Disclosing Party,
such Party or its Affiliate may disclose such Confidential Information so long as (A) such Party has provided the Disclosing Party
written notice of such requirement reasonably in advance of such disclose to the extent practicable so that the Disclosing Party
may seek a protective order or other remedy (or waive compliance with this Section 5.5) and (B) in the event that such protective
order or other remedy is not obtained, or the Disclosing Party waives compliance with this Section 5.5, such Party and its Affiliates
furnish only that portion of such Confidential Information which they are legally required to be provided as advised in writing
by outside counsel and exercise their commercially reasonable efforts to obtain assurances that confidential treatment will be
accorded such Confidential Information.

 

    	-11-

    	 

    

 

5.6Publicity.
Neither the Seller, on the one hand, or the Purchasers, Aiello or NV Cyber 360, on the other hand, will (or permit their respective
Representatives to) disclose, make or issue, any statement or announcement concerning the specific terms or conditions of this
Agreement to any third parties (other than its Representatives who need to know such information in connection with carrying out
or facilitating the transactions contemplated hereby) without the prior written consent of the other set of Parties (such consent
not to be unreasonably withheld, delayed or conditioned), except (i) in the case of the Seller, as may be required of the Seller
or its Affiliates by applicable law (including any SEC position) or securities listing or trading requirement or (ii) in the case
of any other Party, as required by applicable law as advised in writing by outside counsel and after conferring with the Seller
concerning the timing and content of such required disclosure.

 

    	-12-

    	 

    

 

5.7.Lock-Up.
Each Purchaser hereby agrees not to, without the prior written consent of the Seller, during the period commencing from the Closing
and ending on the earlier of (x) the one (1) year anniversary of the Closing and (y) the consummation of a sale, liquidation, merger,
share exchange or other similar transaction following the Closing that results in all of the Seller’s shareholders having
the right to exchange their equity holdings in the Seller for cash, securities or other property: (i) lend, offer, pledge, hypothecate,
encumber, donate, assign, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell,
grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any S360 Shares; (ii)
enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any S360 Shares; or (iii) publicly disclose the intention to do any of the foregoing; whether any such transaction described
in clauses (i), (ii) or (iii) above is to be settled by delivery of any S360 Shares or other securities, in cash or otherwise (any
of the foregoing described in clauses (i), (ii), or (iii), a “Prohibited Transfer”). Each Purchaser further agrees
to execute such agreements as may be reasonably requested by the Seller, in form and substance reasonably satisfactory to such
Purchaser, that are consistent with the foregoing or that are necessary to give further effect thereto. If any Prohibited Transfer
is made or attempted contrary to the provisions of this Section 5.7, such purported Prohibited Transfer shall be null and void
ab initio, and the Seller shall refuse to recognize any such purported transferee of such S360 Shares as one of its equity holders
for any purpose. In order to enforce this Section 5.7, the Seller may impose stop-transfer instructions with respect to the S360
Shares until the end of the restriction period described in the first sentence of this Section ‎5.7.

 

5.8.Piggy-Back Registration Rights.

 

(a)If the Seller
proposes to file a registration statement under the Securities Act with respect to an offering of Seller equity securities, or
securities or other obligations exercisable or exchangeable for, or convertible into, Seller equity securities, by the Seller for
its own account and/or for security holders of the Seller for their account, other than a registration statement (i) filed solely
in connection with an offering of securities to directors, employees or independent contractors of the Seller pursuant to any stock
incentive or other benefit plan, (ii) filed on Form S-4 or S-8 or any successor to such forms, (iii) for an exchange offer or offering
of securities solely to the Seller’s existing security holders, (iv) for a dividend reinvestment plan, or (v) solely in connection
with a merger, share capital exchange, asset acquisition, share purchase, reorganization, amalgamation, subsequent liquidation,
or other similar business transaction that results in all of the Seller’s shareholders, including without limitation the
Purchasers, having the right to exchange their common stock for cash, securities or other property of a non-capital raising bona
fide business transaction, then the Seller shall (x) give written notice of such proposed filing to each Purchaser as soon as practicable
but in no event less than ten (10) days before the anticipated filing date, which notice shall describe the amount and type of
securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing underwriter
or underwriters, if any, of the offering, and (y) offer to each Purchaser in such notice the opportunity to register the sale of
such number of the S360 Shares as such Purchaser may request in writing within ten (10) days following receipt by the Purchaser
of such notice (a “Piggy-Back Registration”). The Seller shall include in such registration statement such S360 Shares
that are requested by a Purchaser to be included therein within ten (10) days after the receipt by the Purchaser of any such notice
on the same terms and conditions as any shares of Seller’s common stock that are included in such registration statement
by other shareholders of the Seller exercising piggy-back registration rights in existence as of the date of this Agreement with
respect to shares of Seller’s common stock. If at any time after giving written notice of its intention to register any securities
and prior to the effective date of the registration statement filed in connection with such registration, the Seller shall determine
for any reason not to register or to delay registration of such securities, the Seller may, at its election, give written notice
of such determination to the Purchasers, and (x) in the case of a determination not to register, shall be relieved of its obligation
to register any S360 Shares of a Purchaser in connection with such registration, and (y) in the case of a determination to delay
registering, shall be permitted to delay registering any S360 Shares of a Purchaser for the same period as the delay in registering
such other securities. If the offering pursuant to a Piggy-Back Registration is to be an underwritten offering, then each Purchaser
must permit the sale or other disposition of such Purchaser’s S360 Shares in accordance with the intended method(s) of distribution
thereof, and shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such
Piggy-Back Registration and each Purchaser shall be responsible for any fees or commissions due to such underwriters in connection
with the sale of such Purchaser’s S360 Shares (“Selling Expenses”). If (x) the managing underwriter or underwriters
for a Piggy-Back Registration that is to be an underwritten offering advises the Seller in writing that the dollar amount or number
of securities which the Seller, on behalf of itself and/or its security holders who have a contractual right to register their
shares, desires to sell exceeds the maximum dollar amount or maximum number of securities that can be sold in such offering without
adversely affecting the proposed offering price, timing, distribution method or probability of success of such offering or (y)
the SEC determines that the dollar amount or number of securities to be registered under the registration statement exceeds the
maximum dollar amount or number that may be registered under such registration statement in accordance with applicable law (including
without limitation any SEC rules, regulations, policies or positions) (such maximum dollar amount or maximum number of securities,
as applicable, in either of clauses (x) or (y) above, the “Maximum Number of Securities”), then the Seller shall include
in any such offering only the Maximum Number of Securities allocated as follows: (A) first, the securities that the Seller desires
to sell; (B) then, the number of securities required to be included in such offering, if any, by other security holders of the
Seller exercising any demand registration rights that such Persons have pursuant to written contractual arrangements with the Seller;
and (C) finally, the securities of Persons exercising piggy-back registration rights pursuant to written contractual arrangements
with the Seller, including without limitation the Purchasers pursuant to this Section 5.8, pro-rata among all such security holders
exercising piggy-back registration rights. A Purchaser may elect to withdraw such Purchaser’s request for inclusion of such
Purchaser’s S360 Shares in any Piggy-Back Registration by giving written notice to the Seller of such request to withdraw
prior to the effectiveness of the registration statement. The Seller, whether based on its own determination or as the result of
a withdrawal by Persons making a demand pursuant to written contractual obligations, may withdraw a registration statement at any
time prior to the effectiveness of the registration statement. All expenses other than Selling Expenses incurred in connection
with registrations, filings or qualifications in any registration under this Section ‎5.8, including without limitation all
registration, filing, and qualification fees, printers’ and accounting fees and fees and disbursements of counsel for the
Seller shall be borne and paid by the Seller.

 

    	-13-

    	 

    

 

(b)The right of
a Purchaser to request inclusion of any of such Purchaser’s S360 Shares in any registration pursuant this Section 5.8 shall
terminate with respect to such S360 Shares upon the earliest to occur of: (i) such time as when such S360 Shares can be sold under
Rule 144 promulgated under the Securities Act or another similar exemption under the Securities Act; and (ii) after such time as
such S360 Shares have been registered under an effective registration statement. Further, the Seller has the right to exclude any
S360 Shares of a Purchaser from any registration statement in the event the Seller is contractually obligated to exclude such securities.
In the event that the registration statement covers securities being sold by the Seller on its own behalf, the Seller or the underwriter
shall have a right to require a Purchaser to agree to a lock-up period of up to six (6) months from the date of effectiveness of
the registration statement as a condition to registering such Purchaser’s S360 Shares.

 

(c)In connection
with any registration statement for which a Purchaser has elected to exercise its Piggy-Back Registration rights pursuant to this
Section ‎5.8, such Purchaser agrees to (i) cooperate with the Seller in connection with the preparation of such registration
statement as it pertains to such Purchaser or such Purchaser’s S360 Shares, (ii) respond within three (3) Business Days to
any written request by the Seller to provide or verify information regarding such Purchaser or such Purchaser’s S360 Shares
being registered on behalf of such Purchaser (including without limitation the proposed manner of sale) that may be required to
be included in such registration statement and related prospectus pursuant to the rules and regulations of the SEC, and (iii) provide
in a timely manner information regarding the proposed distribution by such Purchaser of the S360 Shares for which such Purchaser
has exercised his or her Piggy-Back Registration rights and such other information as may be requested by the Seller from time
to time in connection with the preparation of and for inclusion in such registration statement and related prospectus.

 

(d)So long as at
the time of the filing of such registration statement the Purchaser is not an executive officer or director of the Seller, if any
S360 Shares of such Purchaser are included a registration statement:

 

(i)To
the extent permitted by applicable Law, the Seller will indemnify and hold harmless such Purchaser from and against any and all
loss, damage, claim or liability (joint or several) to which such Purchaser may become subject under the Securities Act, the Exchange
Act, or other federal or state securities law, insofar as such loss, damage, claim or liability (or any action in respect thereof)
arises out of or is based upon: (A) any untrue statement or alleged untrue statement of a material fact contained in such registration
statement; (B) any omission or alleged omission to state in such registration statement a material fact required to be stated therein,
or necessary to make the statements therein not misleading; or (C) any violation by the Seller (or any of its Representatives)
of the Securities Act, the Exchange Act, any state securities law (collectively, “Registration Damages”); and the Seller
will pay to such Purchaser any legal or other expenses reasonably incurred by such Purchaser in connection with investigating or
defending any claim or proceeding from which Registration Damages may result, as such expenses are incurred; provided, however,
that the foregoing indemnity shall not apply to the extent that any such Registration Damages arise out of, result from or are
based upon information provided in writing by such Purchaser expressly for use in such registration statement or actions or omissions
made by the Seller or its Representatives in reliance upon and in conformity with information furnished in writing by or on behalf
of such Purchaser expressly for use in connection with such registration statement; provided, further, that the Seller shall not
be responsible to indemnify for any amounts paid in settlement of any claim or proceeding if such settlement is effected without
the consent of the Seller, which consent shall not be unreasonably withheld, delayed or conditioned.

 

    	-14-

    	 

    

 

(ii)To
the extent permitted by applicable law, such Purchaser will indemnify and hold harmless the Seller, its Representatives (including
without limitation any underwriter under the Securities Act), any other security holder of the Seller selling securities in such
registration statement and any controlling person (as defined in the Securities Act) of any such Persons from and against any and
all Registration Damages, in each case only to the extent that such Registration Damages arise out of, result from or are based
upon information provided in writing by such Purchaser expressly for use in such registration statement or actions or omissions
made by the Seller or its Representatives in reliance upon and in conformity with information furnished in writing by or on behalf
of such Purchaser expressly for use in connection with such registration statement; and such Purchaser will pay to the Seller and
each other aforementioned indemnified Person any legal or other expenses reasonably incurred thereby in connection with investigating
or defending any claim or proceeding from which Registration Damages may result, as such expenses are incurred; provided, that,
except in the case of fraud or willful misconduct by such Purchaser, such Purchaser shall not be responsible to indemnify for any
amounts paid in settlement of any claim or proceeding if such settlement is effected without the consent of such Purchaser, which
consent shall not be unreasonably withheld, delayed or conditioned.

 

(iii)The
indemnification procedures set forth in Section ‎7.3 shall apply to any indemnification claim under this Section ‎5.8 (with
any reference in Section ‎7.3 referring to any provision of ‎ARTICLE VII referring to this Section 5.8 instead).

 

5.9Termination
of Sterling Bank Agreements. The Seller will use its best efforts to terminate the Sterling Bank Agreements within fifteen
(15) days after Closing Date, so that all Liens on the assets of the Companies in favor of Sterling National Bank will terminate
within sixty (60) days after the Closing Date. The Buyer agrees to refrain from conducting any draws relating to the
Sterling Bank Agreements in excess of an aggregate of Fifty-thousand dollars ($50,000) after the Closing, and will comply
with and timely remit all monies received in relation to the Sterling Bank Agreements to Sterling National Bank until Liens on
the assets of the Companies in favor of Sterling National Bank are terminated.

 

ARTICLE VI

 

Actions Taken and Documents Delivered

 

The Parties hereby
acknowledge the following actions and delivery of the following documents:

 

6.1Purchase
Price. The Purchasers have delivered the Purchase Price to the Seller.

 

6.2Delivery
of Shares of NV Cyber 360. The Seller has delivered to the Purchasers the original stock certificate or certificates for the
Shares being transferred hereunder, duly endorsed or accompanied by stock powers duly executed and otherwise in a form acceptable
for transfer to the Purchasers as set forth on Exhibit A, in a form reasonably satisfactory to the Purchasers’
counsel.

 

    	-15-

    	 

    

 

6.3Resignations. The Purchasers
have received the written resignation of each current member of the board of directors and each officer of NV Cyber 360 and MA
Cyber 360, other than Mark P. Aiello.

 

6.4Consents. The Seller
has delivered all of the Consents required in connection with the consummation of the transactions contemplated by this Agreement.

 

ARTICLE VII

 

Indemnification

 

7.1Survival
of Representations and Warranties. 

 

All representations
and warranties contained in this Agreement shall survive the Closing and shall terminate eighteen (18) months from the Closing
Date (the “Expiration Date”) and thereafter shall be of no force or effect, except for any claim with respect to which
notice has been given to the party to be charged prior to such expiration date; provided, however, that any representations and
warranties that are proven to have been fraudulently made shall not expire on the Expiration Date; provided further that representations
of Section 3.11 (Income and Other Taxes) shall expire upon the termination of any applicable statutes of limitations and the representations
contained in Sections 3.1 through and including 3.6 shall continue indefinitely.

 

7.2 Indemnification.

 

(a)Subject to the
terms of this Agreement the Seller agrees to indemnify, defend, save and hold harmless, the Purchasers, Aiello, and the Companies,
and their respective officers, directors and employees, (collectively, the “Purchaser Indemnified Parties”) from and
against any loss, cost, expense, liability, claim or legal damages (including, without limitation, reasonable fees and disbursements
of counsel) (collectively, “Damages”) arising out of or resulting from: (i) any inaccuracy in or breach of any representation
and warranty of the Seller; or (ii) any failure of the Seller to perform or observe fully any non-waived covenant, agreement or
provision to be performed or observed by it pursuant to this Agreement.

 

(b)Subject to the terms of this
Agreement, each of the Purchasers, Aiello, and the Companies severally and not jointly, agree to indemnify, defend, save and hold
harmless, the Seller, and its officers, directors and employees (collectively, the “Seller Indemnified Parties”) from
and against any Damages arising out of or resulting from: (i) any inaccuracy in or breach of any representation and warranty of
a Purchaser or Aiello; or (ii) any failure of a Purchaser, Aiello, or a Company to perform or observe fully any non-waived covenant,
agreement or provision to be performed or observed by it pursuant to this Agreement.

 

(c)Notwithstanding
anything to the contrary contained herein, after the Closing, except for (i) claims based in whole or in part upon fraud, willful
misconduct or intentional misrepresentation or (ii) any equitable remedies, including the right to an injunction or specific performance,
to which the Purchasers may be entitled: (A) the maximum liability of the Seller under this Agreement with respect is limited to
a maximum of Five Hundred Thousand Dollars ($500,000); and (B) this ‎Article VII shall constitute the sole and exclusive remedy
for each Party against any other Party with respect to any and all breaches or alleged breaches of any covenant, representation
or warranty made by such party in this Agreement.

 

    	-16-

    	 

    

 

7.3Indemnification
Procedures. After receipt by a Party entitled to indemnification (an “Indemnified Party”) of notice of the commencement
of any action or other claim by a third party that may give rise to a claim of indemnity hereunder (a “third party claim”),
the Indemnified Party will, in a timely manner, notify the Indemnifying Party of the third party claim, but the failure to notify
Indemnifying Party shall not relieve the Indemnifying Party of its obligation to indemnify under this Agreement unless the lack
of timeliness materially prejudices the Indemnifying Party’s ability to defend against such third party claim. After receipt
of such notice the Indemnifying Party shall, in a timely manner, undertake the defense or settlement of such third party claim
with counsel reasonably satisfactory to the Indemnified Party (who shall not, except with the consent of the Indemnified Party,
be counsel to the Indemnifying Party). Neither the Indemnifying Party nor the Indemnified Party shall settle any third-party claim
without the consent of the other, which shall not be unreasonably withheld, delayed or conditioned.

 

ARTICLE VIII

 

Releases

 

8.1Release by
the Seller. Effective as of the Closing, the Seller, on behalf of itself and its Subsidiaries, Affiliates and its and their
respective officers, directors, employees, shareholders, successors and assigns (collectively, the “Seller Releasors”),
for good and valuable consideration, the adequacy and receipt whereof are hereby acknowledged, does hereby, irrevocably and unconditionally,
release, remise, acquit and forever discharge Aiello, the Purchasers and the Companies and their respective Subsidiaries (collectively,
the “Purchaser Releasees”) of and from any and all claims, charges, complaints, demands, debts, actions, causes of
action, damages and liabilities, if any, both in law and equity, in tort or in contract, of any jurisdiction, foreign or domestic,
known or unknown, which such Seller Releasor now has, or has ever had against the Purchaser Releasees, arising from or in connection
with the Original Sale or otherwise arising on or prior to the Closing; except in each case for the rights of the Seller Releasors
under this Agreement, including without limitation those matters covered by the indemnities set forth in Article VII hereof, all
of which are specifically excluded from this Release. The terms of this Release are contractual and not a mere recital. The Seller
Releasors acknowledge that they understand the contents of this Release and the effect thereof, that they have had the advice of
legal counsel in connection herewith, that they have not been induced by any representations not contained in this Agreement to
enter into this Release, and that this Release will remain in effect notwithstanding the discovery or existence of any additional
fact or any facts different from those which the Seller Releasers now know or believe to be true.

 

8.2Release by
the Purchasers, Aiello and the Companies. Effective as of the Closing, each of the Purchasers, Aiello and the Companies, on
behalf of themselves and their respective Subsidiaries and their respective officers, directors, employees, shareholders, successors
and assigns (collectively, the “Purchaser Releasors”), for good and valuable consideration, the adequacy and receipt
whereof are hereby acknowledged, does hereby, irrevocably and unconditionally, release, remise, acquit and forever discharge the
Seller and its Subsidiaries (collectively, the “Seller Releasees”) of and from any and all claims, charges, complaints,
demands, debts, actions, causes of action, damages and liabilities, if any, both in law and equity, in tort or in contract, of
any jurisdiction, foreign or domestic, known or unknown, which such Purchaser Releasor now has, or has ever had against the Seller
Releasees, arising from or in connection with the Original Sale or otherwise arising on or prior to the Closing; except in each
case for (i) Seller’s obligation under Section 8 “Indemnification and Insurance” of the Aiello Employment Agreement
and (ii) the rights of the Purchaser Releasors under this Agreement, including without limitation those matters covered by the
indemnities set forth in Article VII hereof, all of which are specifically excluded from this Release. The terms of this Release
are contractual and not a mere recital. The Purchaser Releasors acknowledge that they understand the contents of this release and
the effect thereof, that they have had the advice of legal counsel in connection herewith, that they have not been induced by any
representations not contained in this Agreement to enter into this Release, and that this Release will remain in effect notwithstanding
the discovery or existence of any additional fact or any facts different from those which the Purchaser Releasors now know or believe
to be true.

 

    	-17-

    	 

    

 

ARTICLE IX

 

General Provisions

 

9.1Complete Agreement and other
Matters. This Agreement (a) constitutes the entire agreement and supersedes all other prior and contemporaneous promises, covenants,
understandings, representations, warranties, agreements and undertakings, both written and oral, between the Parties hereto with
respect to the subject matter hereof; (b) is not intended to confer upon any person or entity any rights or remedies hereunder
or with respect to the subject matter hereof except an specifically provided in this Agreement; (c) shall not be assigned by operation
of law or otherwise; (d) shall be governed by, and construed in accordance with, the internal laws (and not the law of conflicts)
of The Commonwealth of Massachusetts; (e) may be executed in two or more counterparts, each of which shall be deemed to be an original,
but all such counterparts together shall constitute a single agreement; (f) may be executed by facsimile signature, provided that
the original thereof is provided to the other Parties promptly after the Closing; and (g) shall be construed without regard
to headings or captions, or gender, or whether a reference is to the singular or plural. The Parties agree that service of process
by registered or certified mail, return receipt requested, at his, her or its address specified in or pursuant to Section 9.5 is
reasonably calculated to give actual notice.

 

9.2 Expenses. All costs
and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the Party or
Parties incurring the same, it being expressly understood by the Parties hereto that the Seller, and not the Companies, shall
be liable for the costs and expenses of the Seller, the Companies and their counsel and accountants in connection with this Agreement
and the transactions contemplated hereby.

 

9.3Amendment. This Agreement
may be amended at any time only by a written instrument executed by each Party hereto.

 

9.4Further Action.
Subject to the terms and conditions provided in this Agreement, each of the Parties hereto agrees to use all reasonable efforts
to take, or cause to be taken, all action, and to do, or cause to be done, all things necessary, proper or advisable under applicable
laws and regulations to consummate and make effective the transactions contemplated by this Agreement. If at any time after the
Closing any further action is necessary to carry out the purposes of this Agreement, the Parties shall take, or cause to be taken,
all such necessary action.

 

9.5Notices. All notices,
requests, demands, claims, and other communications hereunder will be in writing. Any notice, request, demand, claim, or other
communication hereunder shall be deemed duly given: (i) upon receipt if delivered personally; (ii) one (1) Business Day following
the date sent when sent by reputable national overnight courier (such as FedEx) and (iii) three (3) Business Days following the
date mailed when mailed by registered or certified mail, return receipt requested and postage prepaid, at the following addresses:

 

	(a)	As to
    the Seller:	Staffing
    360 Solutions, Inc.
	 	 	641
    Lexington Avenue
	 	 	Suite
    1526
	 	 	New York, NY  10022
	 	 	Attention:
    Matthew Briand
	 	 	 	 
	 	With
    a copy to:	Ellenoff
    Grossman & Schole LLP
	 	 	1345
    Avenue of the Americas, 11th Floor
	 	 	New
    York, NY 10105
	 	 	Attention:  	Barry
    Grossman, Esq.
	 	 	 	 
	(b)	As to
    the Purchasers and/or Aiello:	 	 
	 	 	 	 
	 	To Consolazio:	Michael
    A. Consolazio
	 	 	63 Bridge Street
	 	 	Salem, NH 03079
	 	 	 	 
	 	To Haughey:	Heather
    D. Haughey
	 	 	35 Lancashire
    Drive
	 	 	Mansfield, MA
    02048
	 	 	 	 
	 	To Aiello: 	Mark
    P. Aiello
	 	 	805
    Summer Street
	 	 	Manchester,
    Massachusetts 01944
	 	 	 	 
	 	 	 	 
	 	In each
    case with a copy to:	Lauren
    A. Puglia, Esq.
	 	 	Sassoon
    & Cymrot, LLP
	 	 	84
    State Street, Suite 84
	 	 	Boston,
    MA 02109

 

or to such other address, or to such other
authorized recipient of any notice hereunder, as any Party shall in writing deliver to all other Parties in accordance with this
Section 9.5.

 

    	-18-

    	 

    

 

9.6Survival.
The provisions of this Agreement shall survive the consummation of the Acquisition contemplated under this Agreement, subject to
Section 7.1.

 

9.7Representation
of the Companies. The Parties agree that, notwithstanding the fact that Ellenoff Grossman & Schole LLP (“EGS”)
may have jointly represented the Seller and the Companies in connection with this Agreement, and has also represented the Companies
and/or their respective Affiliates in connection with matters other than the transaction that is the subject of this Agreement
prior to Closing, EGS will be permitted in the future, after Closing, to represent the Seller or its Affiliates in connection with
matters in which such Persons are adverse to the Companies or any of their Affiliates, including any disputes arising out of, or
related to, this Agreement. NV Cyber 360 and each of the Purchasers and Aiello, who are represented by independent counsel in connection
with the transactions contemplated by this Agreement, hereby agree, in advance, to waive (and to cause their Affiliates to waive)
any actual or potential conflict of interest that may hereafter arise in connection with EGS’s future representation of the
Seller or its Affiliates in which the interests of such Person are adverse to the interests of either of the Companies, the Purchasers
or Aiello or any of their respective Affiliates, including any matters that arise out of this Agreement or that are substantially
related to this Agreement or to any prior representation by EGS of the Companies or any of their respective Affiliates. The Parties
acknowledge and agree that, for the purposes of the attorney-client privilege, the Seller, and not the Companies or their respective
directors, officers or employees, shall be deemed the clients of EGS with respect to the negotiation, execution and performance
of this Agreement.

 

[Signature page follows]

 

    	-19-

    	 

    

IN WITNESS WHEREOF,
each of the Parties hereto has executed this Stock Purchase Agreement, or has caused this Agreement to be executed as an instrument
under seal on its behalf by a representative duly authorized, all as of the date first above set forth.

 

	 	SELLER:
	 	 	 
	 	STAFFING 360 SOLUTIONS, INC.
	 	 	 
	 	 	 
	 	 	 
	 	By: 	/s/ Brendan Flood                                                             
	 	 	Name: Brendan Flood
	 	 	Title: Executive Chairman
	 	 	 
	 	NV CYBER 360:
	 	 	 
	 	CYBER 360, INC., a Nevada corporation
	 	 	 
	 	 	 
	 	By:   	 /s/ Mark P. Aiello
	 	 	Name: Mark P. Aiello
	 	 	Title: President
	 	 	 
	 	 	 
	 	AIELLO:
	 	 	 
	 	 	 
	 	/s/ Mark P. Aiello
	 	Mark P. Aiello
	 	 	 
	 	 	 
	 	PURCHASERS:
	 	 	 
	 	 	 
	 	/s/ Michael A. Consolazio
	 	Michael A. Consolazio
	 	 	 
	 	 	 
	 	 	 
	 	/s/ Heather D. Haughey
	 	Heather D. Haughey

 

    	-20-

    	 

    

 

Exhibit A

 

Capitalization of NV CYBER 360 and MA Cyber
360;

 

 

NV Cyber 360 has 1,000,000 shares of NV Cyber 360 Common Stock,
authorized. As of the Effective Date, there are 1,000 shares of NV Cyber 360 Common Stock outstanding, all of which are owned,
beneficially and of record by the Seller.

 

MA Cyber 360 has 178,222 shares of Common Stock, no par value
per share, authorized, with 90,000 shares designated as Class A Voting Shares and 88,222 shares designated as Class B Non-Voting
Shares. As of the Effective Date , there are 90,000 Class A Voting Shares and 76,000 Class B Non-Voting Shares issued and outstanding,
all of which are owned, beneficially and of record by NV Cyber 360.

 

 

The Purchasers are purchasing all of the Shares of NV Cyber
360, and receiving Shares of the Seller, as follows:

 

	 	 	Number of	 	 	 	 	 	 	 
	 	 	Shares of	 	 	Percentage of	 	 	Number of	 
	Purchaser	 	NV Cyber 360	 	 	NV Cyber 360	 	 	S360 Shares	 
	 	 	 	 	 	 	 	 	 	 
	Michael A. Consolazio	 	 	480	 	 	 	48	%	 	 	544,344	 
	63 Bridge Street	 	 	 	 	 	 	 	 	 	 	 	 
	Salem, NH 03079	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Heather D. Haughey	 	 	520	 	 	 	52	%	 	 	589,706	 
	35 Lancashire Drive	 	 	 	 	 	 	 	 	 	 	 	 
	Mansfield, MA 02048	 	 	 	 	 	 	 	 	 	 	 	 

 

    	-21-

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