Document:

Real Estate Purchase Agreement dated as of November 17, 2004

 EXHIBIT 10.1 
  
 REAL ESTATE PURCHASE AND SALE AGREEMENT 
  
 This Real Estate Purchase and Sale Agreement (the “Purchase Agreement”) is made and entered into as of November
17, 2004, by and between FelCor Lodging Limited Partnership f/k/a/ FelCor Suites Limited Partnership, a Delaware partnership (“Seller”), and Casino One Corporation, a Mississippi corporation (“Buyer”). 
  
 WHEREAS, Seller previously entered into an Option Agreement (the “Option
Agreement”) dated as of November 13, 2003, with IOC – City of St. Louis, LLC (“IOC”) which provided for IOC to have the option to purchase certain real estate located at 901 North First Street, St Louis, Missouri, together with
various associated assets and items of personal property (collectively, the “Property”) pursuant to the terms and conditions contained in a Sale and Purchase Agreement (the “Exhibit Agreement”) attached as an exhibit to the
Option Agreement; 
  
 WHEREAS, the Option Agreement and the
Exhibit Agreement are attached to this Purchase Agreement as Annex A and Annex B, respectively; 
  
 WHEREAS, the Option Agreement has expired unexercised; 
  
 WHEREAS, Buyer and Seller now wish to agree that Buyer shall purchase and Seller shall sell the Property on the same terms and conditions, except as
modified in this Purchase Agreement, as would apply under the Option Agreement and the Exhibit Agreement if the option contained therein were exercised. 
  
 NOW, THEREFORE, Buyer and Seller agree as follows: 
  
 1. Purchase and Sale. Buyer agrees to purchase from Seller and Seller agrees to sell to Buyer the Property, on the terms and conditions as would
apply under the Option Agreement and the Exhibit Agreement if the option contained therein were exercised, except as such terms and conditions are modified in this Purchase Agreement. Except as otherwise expressly provided or modified in this
Purchase Agreement, all capitalized terms shall have the meanings assigned to such terms in the Option Agreement and the Exhibit Agreement. 
  
 2. Option Consideration Not Applied to Purchase Price. Amounts paid to Seller by IOC pursuant to Section 3 of the Option Agreement shall not be
considered to be applied to the Purchase Price determined pursuant to Section 4 of the Option Agreement. 
  
 3. Closing. The “Closing Date” shall be February 28, 2005. 
  
 4. Effective Date and Option Notice Date. The Effective Date for purposes of the Exhibit Agreement shall be November
17, 2004. The date of the Option Notice for purposes of determining the twelve month EBITDA under Section 4 of the Option Agreement shall deemed to be November 30, 2004. 
  
 5. Confidentiality. Seller acknowledges that Buyer will be required by applicable securities laws to disclose
publicly the fact that it has entered into this Purchase Agreement and to file a copy of this Purchase Agreement with the Securities and Exchange Commission and other regulatory agencies. Sections 9.13 and 9.8 of the Exhibit Agreement and Section 11
of the Option Agreement are modified to permit all such disclosures and filings. 

 6. Notices. All notices shall be delivered as provided in the Section 9.3 of the Exhibit
Agreement, except that in lieu of notices to IOC, notices to Buyer shall be delivered to: 
  

			
	Casino One Corporation	 	With a copy to:
	3800 Howard Hughes Parkway	 	 Irell & Manella, LLP

	Suite 1800	 	 1800 Ave of the Stars, Suite 900

	Las Vegas, NV 89109	 	 Los Angeles, CA 90067

	Telephone Number: 702-784-7748	 	 Telephone Number: 310 203-7110

	Fax Number: 702-784-7778	 	 Fax Number 310 383-5610

	Email: jgodfrey@pnkmail.com	 	 
	Attention: Jack Godfrey, Esq.	 	 Attention: C. Kevin McGeehan

  
 7. Disclosures.
By December 1, 2004, Seller shall deliver to Buyer all diligence materials and deliveries required under the Exhibit Agreement, and will deliver by that date the following additional items and materials: 
  
 (a) A copy of that certain Phase I Environmental Assessment of the Property
dated March 31, 1998, (the “D&M Report”) referred to in Section 13 of the Option Agreement, together with any other written reports of materials in Seller’s possession that are material to evaluating whether the Property is in
violation with any Federal, state or local environmental laws or regulations, including but not limited to those related to hazardous waste, hazardous substances, and similar materials. Buyer may proceed to have a new Phase I evaluation of the
Property performed. 
  
 (b) Copies of all items described in
Section 9.6 of the Option Agreement and any notices of non-compliance received from any governmental entity with respect to the Property. 
  
 (c) Proposed forms of all exhibits to be attached to the Exhibit Agreement as qualifications of the representations contained therein. 
  
 (d) Copies of any collective bargaining agreements or other labor agreements
or contracts pertaining to the employees of operations at the Property. 
  
 (e) True, correct and complete copies of the Franchise Agreement, Management Agreement, Tenant Lease, the Space Leases, the Hotel Contracts, leases and agreements for parking, and any other agreements or contracts material to the operation
of the Property. 
  
 8. Earnest Money. Buyer shall make the
earnest money deposit contemplated by Section 2.1 of the Exhibit Agreement on or before December 1, 2004, in the amount of $400,000 (the “Deposit”). If Buyer fails to close under this Purchase Agreement, and has not terminated this
Purchase Agreement pursuant to any of the provisions of this Purchase Agreement, the Option Agreement, or the Exhibit Agreement permitting Buyer to terminate this Purchase Agreement, then Seller shall retain the Deposit as liquidated damages as
provided in Section 6.1 of the Exhibit Agreement, and Buyer shall have no further liability under this Purchase Agreement. 
  

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 9. Diligence Period. Buyer shall have a diligence period ending at the close of business on
January 7, 2005 (the “Diligence Period”), during which to inspect the Property and to review the information and documents pertaining to the Property. During the Diligence Period Buyer may, in its sole discretion, terminate this Purchase
Agreement if Buyer objects to any findings or results of such review and inspections, and if this Agreement is so terminated, the Deposit shall be returned to Buyer, and Buyer and Seller will each have no further liability under this Purchase
Agreement. 
  
 10. Corporate Status. References in the
Exhibit Agreement to “Purchaser’s” corporate status and corporate actions shall be considered modified as necessary to refer to the status and corporate actions of Buyer as a Mississippi corporation, or as appropriate to reflect the
corporate form of any assignee of Buyer’s rights under this Purchase Agreement. 
  
 11. Collective Bargaining Agreements. Buyer shall not be required to assume any such agreements unless Buyer determines, in its good faith discretion, that assumption of the collective bargaining agreement will
not cause such contract to apply to any other operations or facilities conducted by Buyer or any other entity controlling, controlled by Buyer, or under common control with Buyer. 
  
 12. Franchise Agreement. In addition to conditions listed in the Exhibit Agreement, it shall be an additional
condition to Buyer’s obligations under this Purchase Agreement that, prior to the Closing Date, (i) Buyer and Franchisor enter into an amendment to the Franchise Agreement or a new franchise agreement on terms and conditions satisfactory to
Buyer in its sole discretion, and (ii) the Franchisor agrees to assign or terminate the Franchise Agreement without payment by Seller of damages, termination fees, or other charges by Franchisor related to the assignment or termination by Seller. If
Buyer terminates this Purchase Agreement after the close of the Diligence Period solely on account of this condition, then Seller shall retain the Deposit and Buyer shall have no further liability under this Agreement. In addition to conditions
listed in the Exhibit Agreement, it shall be an additional condition to Seller’s obligations under this Purchase Agreement that, prior to the Closing Date, the Franchisor agrees to assign or terminate the Franchise Agreement without payment by
Seller of damages, termination fees, or other charges by Franchisor related to the assignment or termination by Seller. If Seller terminates this Purchase Agreement after the close of the Diligence Period solely on account of this condition, then
Seller shall retain the Deposit and Buyer shall have no further liability under this Agreement. 
  
 13. Committee and Board Approvals. In addition to conditions listed in the Exhibit Agreement, it shall be an additional condition to Seller’s
obligations under this Purchase Agreement that the Executive Committee of Seller or Seller’s parent (as applicable) shall approve the transactions contemplated herein; provided, however, that this condition shall be deemed fulfilled or waived
by Seller if Seller has not informed Buyer that such condition cannot be fulfilled and terminated this Purchase Agreement on or before December 1, 2004. In addition to conditions listed in the Exhibit Agreement, it shall be an additional condition
to Buyer’s obligations under this Purchase Agreement that the Board of Directors of Buyer and of Pinnacle Entertainment, Inc. shall approve the transactions contemplated herein; provided, however, that this condition shall be deemed fulfilled
or waived by Seller if Seller has not informed Buyer that such condition cannot be fulfilled and terminated this agreement on or before December 1, 2004. If this Purchase Agreement is terminated by Buyer or Seller on or before December 1, 2004,
pursuant to this provision, the Deposit shall be returned to Buyer (or not deposited), and Buyer and Seller will each have no further liability under this Purchase Agreement. 
  

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 14. Survey. The Survey to be provided pursuant to Section 3.1(b) of the Exhibit Agreement shall be
updated to include all of the Land and Improvements included in the Transferred Property. 
  
 15. No Brokers or Finders. Each of Buyer and Seller represents that it has not retained a broker or other person entitled to any commission or other compensation in connection with the transaction contemplated
herein. The parties acknowledge that Solon Gershman, Inc. through agent Barry Sandweiss (“IOC Broker”) had been engaged by IOC in connection with the proposed sale to IOC, but is not engaged in connection with this transaction. Each of
Seller and Buyer shall indemnify and hold the other harmless from and against the rights or claims of any person claiming through such party to be entitled to any such commission or compensation. This section shall survive the Closing. 

 
 16. Additional Representations and Warranties; Indemnities.

  
 (a) Seller represents and warrants to Buyer that the Option
Agreement has been terminated and has not been exercised. Seller agrees to indemnify, defend and hold harmless Buyer and Buyers officers, directors, and agents and, if requested, the Title Company against any claim by IOC or through IOC’s
rights under the Option Agreement, and this indemnity shall survive the Closing. 
  
 (b) Seller hereby confirms and agrees that the representations and warranties in the Option Agreement are hereby remade as of the date hereof and on the Closing Date and that such representations and warranties shall
not be limited in any way by this Purchase Agreement or the Exhibit Agreement and shall expressly survive the execution, delivery and performance of this Purchase Agreement and the Exhibit Agreement. 
  
 (c) The execution and delivery by Seller of this Purchase Agreement
(including the Option Agreement and Exhibit Agreement constituting a part hereof) and the performance by Seller of its obligations hereunder and thereunder do not and will not require consent under or result in a material breach of any of the terms
and provisions of, or constitute a material default (or an event which with notice or lapse of time, or both, would constitute a default) under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or asset of
Seller, including the Transferred Property, pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement, instrument, franchise, license or permit to which Seller is a party or by Seller or its respective properties,
operations or assets may be bound. 
  
 17. Miscellaneous
provisions: 
  
 (a) Governing Law. This Purchase
Agreement shall be governed by and construed in accordance with the internal laws of the State of Missouri, without regard to internal conflicts of laws principles. 
  
 (b) Further Assurances. The Seller and Buyer shall do and perform such other and further acts and execute and deliver
any and all such other and further instruments as may be required by law or reasonably requested by the other (and at such other party’s cost) to establish, maintain and protect the respective rights and remedies of the other and to carry out
and effect the intent and purpose of this Purchase Agreement. 
  

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 (c) Entire Agreement; Counterparts. This Purchase Agreement constitutes the entire understanding
of the parties and supersedes any and all other agreements, written or oral, with respect to the subject matter hereof. This Purchase Agreement may only be modified or amended by a written instruments signed by the party or parties against which
such modification or amendment is to be enforced. This Purchase Agreement may be executed in two or more counterparts which together shall constitute a single agreement. 
  

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 (d) Binding Effect and Assignment. This Purchase Agreement shall be binding on the parties hereto
and inure to the benefit of their respective successors and assigns. Neither party may assign its rights or interests under this Purchase Agreement prior to the Closing, unless the prior written consent of the other party is obtained. 
  
 IN WITNESS WHEREOF, the parties have executed this Purchase Agreement as of
the date first written above. 
  

			
	 FelCor Lodging Limited Partnership f/k/a

	 FelCor Suites Limited Partnership

		
	 By:
	 	FelCor Lodging Trust Incorporated
	 	 	General Partner
		
	 By:
	 	 /s/ Joel M. Eastman

	 Name:
	 	Joel M. Eastman
	 Title:
	 	Vice President
	
	 Casino One Corporation

		
	 By
	 	 /s/ Daniel R. Lee

	 Name:
	 	Daniel R. Lee
	 Title:
	 	Chief Executive Officer

  

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 OPTION AGREEMENT 
  
 This Option Agreement (“Agreement”) is made and entered into as the latest date by the signatures below, which
date is November 12, 2003 (the “Effective Date”), by and between FelCor Lodging Limited Partnership f/k/a FelCor Suites Limited Partnership (“Optionor”), a Delaware partnership, and IOC - City of St. Louis, LLC
(“Optionee”), a Missouri limited liability company. 
  
 1. Grant of Option. Optionor, for and in consideration of the Option Payment described below and subject to the terms of this Agreement, does hereby grant to Optionee the sole and exclusive right and option (the “Option”)
to purchase from Optionor, (i) the real property estates owned by Optionor located at 901 North First Street, St. Louis, Missouri, together with all improvements thereon and appurtenances thereto (the “Real Property”), which Real Property
is more particularly described in the limited warranty deed dated May 1, 1998, recorded May 8, 1998 in Book 1391M, Pages 130-138 of the St. Louis City Records, a true and correct copy of which is attached hereto as Exhibit “A”, and (ii)
the personal property owned by optionor or its affiliates situated on the Real Property that is used and useful in the operation of the hotel situated on the Real Property (the “Personal Property”). The Real Property and the Personal
Property together constitute the “Property”. 
  
 2.
Duration of Option. 
  
 2.1. Initial Term.
The initial term of this Option (the “Initial Term”) shall commence upon the Effective Date and shall continue to the first anniversary thereof. 
  
 2.2. Extension Term. Optionee shall have the right to extend the Option Period for either: 
  
 2.2.1 Two (2) successive periods of one (1) year (each, an
“Extension Term”), if Optionee, or an affiliate of Optionee, is selected as the developer for a gaming and mixed use development pursuant to a Request for Proposals (“RFP”) that is currently being solicited by agencies of St.
Louis City for an area that includes the Real Property; provided, however, the Second Extension Term is subject to Optionor’s Termination Right as described later in this Agreement; or 
  
 2.2.2 One (1) successive period of one (1) year (an
“Extension Term”) if Optionee is not selected as the developer pursuant to the RFP. 
  
 2.3. Exercise of Extension Term. Optionee shall exercise each Extension Term before the expiration of the then Option Term by (i)
written notice thereof to Optionor, and (ii) payment of the applicable Option Payment (“Extension Exercise”). Failure to timely perform either obligation set forth above shall be deemed a failure to exercise an Extension Term. 

 
 2.4. Option Period. The Initial Term and each
exercised Extension Term constitute the “Option Period”. 
  
 3. Payment for Option. As consideration for this Option (an “Option Payment”), Optionee shall pay Optionor $380,000 for the Initial Term within five (5) business days after the 
  

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 Effective Date, and $380,000 as part of each applicable Extension Exercise. Each Option Payment shall be applied toward
the Purchase Price, but shall be non-refundable in the event Optionee does not purchase the Property prior to the termination of this Option. Such non-refundability, however, is subject to the terms of this Agreement. Optionee shall have the right,
but not the obligation, to prepay any or all Option Payments at any time. 
  
 4. Purchase Price. The Purchase Price for the Property shall be the greater of $38,000,000 or twelve times trailing twelve month EBITDA as of the date the Option Notice is given. 
  
 4.1. EBITDA. Trailing twelve month EBIDTA as of the
date the Option Notice is given shall be computed using the same accounting principles, standards and practices as used in the determination of trailing twelve month EBITDA as of the Effective Date, regardless of any subsequent changes otherwise
adopted, excluding all extraordinary and non-recurring income and expenses, including, without limitation, the Option Payments, and providing Optionor continued operating Optionor’s business on the Property in the ordinary course. 

 
 4.2. Determination. Within ten (10) business days
after Exercise of Option, Seller will inform Buyer whether Seller determines the Purchase Price to be $38,000,000 or twelve times trailing twelve month EBITDA. Only if the latter, Seller shall also provide Buyer with Seller’s calculation and
the information on which the calculation is based. Also only if the latter, Buyer will then have ten (10) business days to accept or object to Seller’s determination of the Purchase Price. 
  
 4.3. Objection. If Buyer objects to Seller’s
determination of the Purchase Price, and Seller and Buyer fail to resolve the issues with respect to the determination within thirty (30) days of Seller’s receipt of Buyer’s objection notice, Seller and Buyer shall submit the issues in
dispute to a mutually agreed upon independent public accountant experienced in valuation of EBITDA for hotel properties (“Accountant”). If issues are submitted to the Accountant, (a) Seller and Buyer shall furnish materials and information
related to the disputed issues as the Accountant requests; (b) the determination by the Accountant, as set forth in a notice to be delivered to both Seller and Buyer within forty-five (45) days of the submission to the Accountant of the issues
remaining in dispute, shall be final, binding and conclusive on the parties and shall be used in calculation of the Purchase Price; and (c) Seller and Buyer will each bear half the fees and costs of the Accountant for such determination. 

 
 5. Exercise of Option. This Option may be exercised (“Exercise
of Option”) by written notice to Optionor (the “Option Notice”) delivered at any time during the Option Period. 
  
 6. Termination of Option. This Option shall terminate upon the earliest to occur of: 
  
 6.1. The expiration of any Option Period without the Exercise Extension thereof, if permitted herein;

  
 6.2. The occurrence of events giving rise to
a termination right as provided in this Agreement and the exercise of such right; or 
  

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 6.3. The Exercise of Option. 
  
 7. Intentionally omitted. 
  
 8. Optionor’s Use of the Property During the Option Period

  
 8.1. Optionor represents and warrants that
Optionor uses the Property for an all suites hotel and uses ancillary thereto, and that no other parties or entities have any rights with respect to the Property, except for tenants under existing space leases providing services used in the
operation of the hotel. Optionor shall be entitled to continue to use the Property for the foregoing uses. 
  
 8.2. From and after the Effective Date, Optionor will not knowingly cause environmental contamination on the Property 
  
 8.3. From and after the Effective Date, Optionor may
encumber the Property only with Optionee’s prior written consent, which consent will not be unreasonably withheld. For purposes of this paragraph, “encumber” shall mean the grant with a term of more than one (1) year of space leases,
easements, licenses or rights of way, but does not include financial obligations that can be paid at the closing of the sale of the Property pursuant to the Exercise of Option. Otherwise, Optionor may continue to operate the hotel in the ordinary
course of business as Optionor has operated the hotel since acquisition in 1998, including but not limited to bookings of rooms and other business. Regarding space leases, Optionor represents and warrants as of the Effective Date, there are none
with a term of more than one (1) year except as can be terminated upon sale of the Property. 
  
 9. Optionee’s Investigations. 
  
 9.1. Inspections. With prior written notice (“Notice of Inspection”) to Optionor of at least one (1) day, at all times during the Option Period, Optionee and Optionee’s agents, contractors and
employees (each, an “Optionee Party”) shall have the right, subject to the rights of tenants and guests of the hotel, as well as Optionor’s right to operate the hotel in the ordinary course of business, to access the Property and to
conduct any and all investigations of the Property which Optionee may deem advisable (collectively, “Inspections”). Such Inspections may include, but are not limited to, building inspections, structural and engineering studies,
environmental assessments, geotechnical studies, soil tests, appraisals, surveys, title research, and tests for toxic or hazardous substances, wastes or materials. In connection with such Inspections, an Optionee Party shall be entitled to take
samples from the Property. For purposes of this section, Notice of Inspection must be delivered to Optionor in care of either Mike DeNicola, Joel Eastman or Tim Van Allen. Optionee shall not contact the hotel directly to schedule Inspections, nor
shall Optionee discuss hotel operations with any employee of Optionor other than the General Manager or the Chief Engineer. 
  
 9.2. Results. The results of all Inspections are for Optionee’s benefit only and may not be used by any other party, including
Optionor, without Optionee’s prior written consent. 
  

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 9.3. Cooperation. Optionor shall not interfere with any testing materials which
must temporarily be placed on the Property and shall cooperate with those persons performing the Inspections and shall request all occupants of the Property to similarly cooperate with Optionee’s rights to conduct the Inspections. 

 
 9.4. Restoration. If Optionee does not exercise
this Option, Optionee shall return all areas of the Property disturbed by Optionee or on behalf of Optionee in the exercise of Optionee’s rights hereunder to a condition substantially similar to the condition existing prior to such disturbance.

  
 9.5. Indemnification; Insurance.
Optionee shall indemnify, defend and hold Optionor harmless from any damage caused by an Optionee Party during Inspections on the Property. Additionally, Optionee will maintain comprehensive general liability insurance including contractual
liability coverage against claims for injury, wrongful death or property damage occurring upon, in or about the Property, to the extent attributable to an Optionee Party, with single limit coverage of not less than Two Million Dollars ($2,000,000)
per occurrence, Three Million Dollars ($3,000,000) aggregate. In such policy or policies, Optionor shall be named as an additional insured, as Optionor’s interest may appear. Upon request, Optionee will provide Optionor certificates evidencing
the existence and amounts of such policy or policies. 
  
 9.6. Delivery of Documents. Within ten (10) days after written request from Optionee, which request Optionee may make from time to time during the Option Period, Optionor shall deliver or cause to be delivered to Optionee, true and
complete copies of all previously undelivered documents concerning the Property that Optionor has in Optionor’s possession, including, without limitation, the most recent copies of plans and drawings, surveys, title insurance commitments,
binders and policies, environmental reports, financial operating statements, leases, license, management, service and employment agreements, parking agreements, easements and licenses. 
  
 10. Assignment. Optionee shall be entitled to freely assign all or any portion of its rights hereunder to any party,
upon written notice thereof to Optionor, except if the proposed assignee does not, in Optionor’s good faith judgment, have sufficient financial worth or creditworthiness to ensure full and timely performance of the rights assigned, in which
event, Optionor’s written consent to the assignment will be required. The confidentiality provisions of this Agreement shall continue to bind Optionor with respect to any person or entity that at any time during the Option Period is Optionee
hereunder. 
  
 11. Confidentiality; Recording. 

 
 11.1. Optionor shall not disclose any of the terms of
this Agreement, nor the identity of Optionee, to any third party (except on (i) a “need to know” basis to Optionor’s attorneys, accountants, real estate brokers, employees and consultants, who, in each instance, are obligated to keep
such information confidential, or (ii) the reasonable determination by Optionor that such disclosure is required by law due to its parent company being publicly traded on the securities market) without the prior written authorization from Optionee.
Optionor shall use reasonable efforts to secure and deliver confidentiality 
  

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 agreements signed by such third party that state that the third party agrees to be bound by this
confidentiality provision. Optionor shall not record this Agreement or any memorandum thereof. 
  
 11.2. Optionee shall not disclose any of the terms of this Agreement to any third party (except on (i) a “need to know” basis to
Optionee’s attorneys, accountants, real estate brokers, employees and consultants, who, in each instance, are obligated to keep such information confidential, or (ii) the reasonable determination by Optionee that such disclosure is required by
law due to its parent company being publicly traded on the securities market, or (iii) as reasonably determined by Optionee to meet the requirements of the RFP) without the prior written authorization from Optionor. Optionee shall use reasonable
efforts to secure and deliver confidentiality agreements signed by such third party that state that the third party agrees to be bound by this confidentiality provision. Optionee shall have the right at all times to record a memorandum of this
Agreement, however, and Optionor shall fully cooperate with such recording, including without limitation providing notarized signatures of an authorized signatory of Optionor upon reasonable advance notice. 
  
 12. No Legal Actions Pending Optionor represents and warrants that
there are no material actions, suits or proceedings, including without limitation, condemnation or eminent domain proceedings, pending or, to the best of Optionor’s knowledge, threatened against the Property or Optionor which involve, directly
or indirectly, the Property. Optionor will promptly notify Optionee of any such proceedings. In the event any condemnation or eminent domain proceeding is actually filed and successfully prosecuted, and the outcome of which has materially damaged
the operation of the hotel, this Agreement may be terminated at the election of Optionee by written notice to Optionor, whereupon the Option Payment paid by Optionee for the then current Option Period shall be prorated and refunded to Optionee. This
prorated portion will be calculated by subtracting from 365 the number of days in the then current Option Term until but not including the date of written notice of termination, then dividing that difference by 365, then multiplying that fraction by
the Option Payment paid by Optionee for the then current Option Term. 
  
 13. Compliance. To the current actual knowledge of Optionor, without independent investigation, since the receipt by Optionor of that certain Phase I Environmental Assessment of the Property dated March 31, 1998 prepared by Dames
& Moore under Project # 39026-003-129 (a copy of which has been delivered to and receipt thereof is acknowledged by Optionee) Optionor has received no written notice that the Property is in violation of any Federal, state or local environmental
laws or regulations, including but not limited to, those related to hazardous waste, hazardous substances, and similar materials (all as defined in such laws and regulations). 
  
 14. Notices. All notices shall be in writing and shall be sent by U.S. mail, certified with return receipt requested,
by overnight delivery, or by personal delivery. All mailed notices shall be deemed given three (3) days after being placed in the U.S. Mail as aforesaid unless in fact received earlier and notices given by delivery shall be deemed delivered on the
date of delivery or the date such delivery is refused. Notice shall be delivered or mailed to the addresses by the signatures below until changed by notice as provided herein. 
  

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 15. Remedies Upon Breach. If either party breaches any of the obligations, representations,
warranties or covenants set forth in this Agreement, the non-breaching party shall be entitled to exercise any remedies in law or equity, including the right of specific performance and injunctive relief; provided, however, monetary damages may be
recovered only for actual damages paid to third parties; and further provided that the breaching party was given notice of and a reasonable opportunity to cure such breach. Additionally, if Optionor breaches any of the obligations, representations,
warranties or covenants set forth in this Agreement, then Optionee will be entitled to recover from Optionor all Option Payments, provided Optionor was given notice of and a reasonable opportunity to cure such breach. After Exercise of Option, the
remedies set forth in the Sale and Purchase Agreement shall prevail. 
  
 16. Prevailing Party. In the event any litigation or other proceeding is commenced to enforce the rights of any party to this Agreement, the non-prevailing party shall reimburse the prevailing party for all costs and expenses
incurred in prosecuting or defending any such litigation or other proceeding, including, without limitation, reasonable attorney fees, expenses and court costs. 
  

17. Binding Benefit. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors and assigns.

  
 18. Brokers and Commissions. Optionee represents and
warrants that it has engaged the services of no real estate broker other than Solon Gershman, Inc. through agent Barry Sandweiss (“Optionee’s Broker”) in connection with Optionee’s option for purchase of the Property. Seller
represents and warrants that it has engaged the services of no real estate broker in connection with the sale of the Property. Optionee and Optionor have been informed and understand that Optionee’s Broker is representing only Optionee. If
Optionee purchases the Property pursuant to this Agreement, Optionor shall pay to Optionee’s Broker a finder’s fee equal to one percent (1%) of the Purchase Price and Optionee shall pay the balance of any broker’s commission due to
Optionee’s Broker pursuant to a separate agreement between Optionee and Optionee’s Broker. Each party shall indemnify and hold the other party harmless from and against any loss, cost, damage, claim, demand or expense (including attorney
fees and expenses), resulting from any breach by the indemnifying party of its representations, warranties and obligation under this paragraph. 
  
 19. Authority. The persons executing this Agreement on behalf of each party hereby represent and warrant to the other party that such person has
the full authority to enter into this Agreement and such party is able to faithfully and timely perform each and every term of this Agreement, without the necessity of the consent, joinder or approval of any other party. 
  
 20. Optionor’s Right to Terminate During the Second Extension
Term. Optionor shall have the right to terminate this Agreement during the Second Extension Term (“Optionor’s Termination Right”) as follows: 
  
 20.1. At any time during the Second Extension Term, Optionor may (but is not obligated to) notify Optionee
by written notice (the “Termination Notice”) that Optionor has received a bona-fide offer (the “Offer”) to purchase the Property and therefore Optionor desires to terminate this Agreement thirty (30) days after Optionee’s
receipt of 
  

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 the Termination Notice. The Termination Notice shall include a copy of the Offer, from which the name of
the offeror and the financial terms may be redacted. If the Termination Notice fails to include a copy of the Offer, the notice shall not constitute a Termination Notice and Optionor shall not have exercised Optionor’s Termination Right.
Optionee covenants not to directly or indirectly contact the party making the Offer about the Offer or the Property unless and until Optionee exercises the Option and purchases the Property. 
  
 20.2. At any time after receipt of the Termination Notice
and prior to the Termination Date, Optionee may exercise the Option as otherwise provided in this Agreement, and, if so exercised, (i) this Agreement shall not terminate due to Optionor’s Termination Right, and (ii) the Closing will be within
thirty (30) days after the date of the Option Notice. 
  
 20.3. If Optionee does not exercise the Option prior to the Termination Date, then this Agreement shall terminate as of the Termination Date. 
  
 20.4. If Optionee notifies Optionor by written notice prior to the Termination Date that Optionee does not intend to exercise the Option,
then the date of such notice shall become the Termination Date and this Agreement shall terminate as of the Termination Date. 
  
 20.5. If this Agreement is terminated due to Optionor’s Termination Right, then within five (5) business days after the Termination
Date, Optionor shall refund to Optionee a prorated portion of the Option Payment paid by Optionee for the Second Extension Term. This prorated portion will be calculated by subtracting from 365 the number of days in the Second Extension Term until
but not including the Termination Date, then dividing that difference by 365, then multiplying that fraction by the Option Payment paid by Optionee for the Second Extension Term. 
  
 20.6. If Optionor does not sell the Property pursuant to the Offer, then Optionor shall so notify Optionee
within ten (10) business days of the scheduled closing under the Offer. At Optionee’s election, by written notice to Optionor within twenty (20) business days after Optionee’s receipt of such notice and repayment of the prorated portion of
the Option Payment refunded pursuant to the previous paragraph, this Agreement can then be reinstated upon the terms and conditions that were remaining as of the Termination Date. 
  
 21. Sale and Purchase Agreement. Attached as an exhibit to this Agreement is a form of Sale and Purchase Agreement
(“Sale and Purchase Agreement”). Upon the Exercise of Option, such Sale and Purchase Agreement shall be fully executed and shall immediately become effective, and Optionor (“Seller” in the Sale and Purchase Agreement) and
Optionee (“Purchaser” in the Sale and Purchase Agreement) shall be bound by the terms and provisions thereof. 
  
 [Signatures on next page] 
  

 7 

 In witness whereof, Optionor and Optionee enter into this Option Agreement, which can be signed in
counterparts and by facsimile. 
  

							
	 OPTIONOR:
	 	 OPTIONEE:

	 FelCor Lodging Limited Partnership f/k/a
	 	 IOC - City of St. Louis, LLC

	 FelCor Suites Limited Partnership
	 	 
		
	 By: FelCor Lodging Trust Incorporated,
	 	 
	 General Partner
	 	 By:
	 	 /s/ David J. Harris

	 	 	 Name:
	 	 David J. Harris

	 	 	 	 	 Title:
	 	 Authorized Agent

	 By:
	 	 /s/ Joel M. Eastman

	 	 Date:
	 	 November 13, 2003

	 Name:
	 	 Joel M. Eastman
	 	 	 	 
	 Title:
	 	 VP/Senior Real Estate Counsel
	 	 	 	 
	 Date:
	 	 November 12, 2003
	 	 Address for Notices:

	 	 	 Gallop, Johnson & Neuman, L.C.

	 	 	 Attn: David J. Harris

	 Address for Notices:
	 	 101 S. Hanley, Suite 1600

	 FelCor Lodging Trust
	 	 St. Louis, Missouri 63105

	 545 E. John Carpenter Freeway
	 	 
	 Suite 1300
	 	 
	 Irving, Texas 75062-3933
	 	 
	 Attn: Joel M. Eastman
	 	 

  

 8 

 FELCOR LODGING TRUST 
  
 SALE AND PURCHASE AGREEMENT 
  

By and Between 
  
 FELCOR LODGING LIMITED PARTNERSHIP 
 [Seller] 
  
 and 
  
 IOC - CITY OF ST. LOUIS, LLC 
  
 [Purchaser]

  
 EMBASSY SUITES,
ST. LOUIS – DOWNTOWN 
  
 St. Louis City, Missouri 

 TABLE OF CONTENTS 
  

							
	I. Definitions; Sale and Purchase; Contingency Period	  	2
	 	  	1.1	  	Definitions.	  	2
	 	  	1.2	  	Sale and Purchase.	  	4
	 	  	1.3	  	Access.	  	4
	II. Consideration	  	5
	 	  	2.1	  	Consideration.	  	5
	 	  	2.2	  	Earnest Money.	  	5
	III. Survey	  	6
	 	  	3.1	  	Survey.	  	6
	IV. Title Insurance	  	6
	 	  	4.1	  	Title Commitment.	  	6
	 	  	4.2	  	Title Conveyed.	  	7
	V. Representations, Warranties, Covenants	  	7
	 	  	5.1	  	Seller’s Representations and Warranties.	  	7
	 	  	5.2	  	Purchaser’s Representations and Warranties.	  	9
	 	  	5.3	  	Remedies Regarding Representations and Warranties.	  	10
	 	  	5.4	  	Covenants.	  	11
	 	  	5.5	  	Conditions Precedent to Purchaser’s Obligations.	  	12
	 	  	5.6	  	Conditions Precedent to Seller’s Obligations.	  	13
	 	  	5.7	  	Financial Statements.	  	13
	VI. Remedies	  	14
	 	  	6.1	  	Seller’s Remedies.	  	14
	 	  	6.2	  	Purchaser’s Remedies.	  	14
	 	  	6.3	  	Attorneys’ Fees.	  	14
	VII. Closing Matters	  	14
	 	  	7.1	  	Closing Date.	  	14
	 	  	7.2	  	Adjustment and Pro-rations.	  	15
	 	  	7.3	  	Guest Property in Seller’s Possession on Closing Date.	  	17
	 	  	7.4	  	Closing Documents.	  	17
	 	  	7.5	  	Closing Costs.	  	18
	 	  	7.6	  	Real Estate Commissions.	  	18
	 	  	7.7	  	Hotel Employees.	  	19
	 	  	7.8	  	Disbursements and Other Actions by Escrow Agent.	  	19
	 	  	7.9	  	Survival.	  	20
	VIII. Condemnation and Risk of Loss	  	20
	 	  	8.1	  	Condemnation and Casualty.	  	20
	IX. Miscellaneous	  	21
	 	  	9.1	  	Entire Agreement.	  	21
	 	  	9.2	  	Binding Effect.	  	21
	 	  	9.3	  	Notices.	  	22
	 	  	9.4	  	Governing Law.	  	22
	 	  	9.5	  	Section Headings.	  	23
	 	  	9.6	  	Obligations.	  	23

							
	 	  	9.7	  	Counterparts.	  	23
	 	  	9.8	  	Non-recordation.	  	23
	 	  	9.9	  	Time of the Essence.	  	23
	 	  	9.10	  	Invalid Provisions.	  	23
	 	  	9.11	  	Computation of Time.	  	23
	 	  	9.12	  	Seller’s Knowledge.	  	23
	 	  	9.13	  	Confidentiality.	  	24
	 	  	9.14	  	Intentionally Omitted.	  	24
	 	  	9.15	  	Tax-Free Exchange.	  	24
	 	  	9.16	  	Assignment by Seller.	  	24
	 	  	9.17	  	Amendment to the Agreement/Waiver of Matters or Conditions.	  	25
	 	  	9.18	  	Relationship of Parties.	  	25
	EXHIBIT “A”	  	26

  
 List of Exhibits 
  

	Exhibit “A”	        Legal Description 

	Exhibit “B”	        Space Leases 

	Exhibit “C”	        Hotel Contracts 

	Exhibit “D”	        Operations Permits 

	Exhibit “E”	        Violations of Laws, Ordinances or Regulations 

	Exhibit “F”	        Pending Litigation 

  

 ii 

 SALE AND PURCHASE AGREEMENT 
  
 THIS SALE AND PURCHASE AGREEMENT (“Agreement”), dated as of the Effective Date, hereinafter defined, is
made by and between FELCOR LODGING LIMITED PARTNERSHIP (“Seller”), a Delaware limited partnership, having an address at 545 E. John Carpenter
Freeway, Suite 1300, Irving, Texas 75062, and IOC - CITY OF ST. LOUIS, LLC (“Purchaser”), a Missouri limited liability company, having an address at c/o Gallop, Johnson & Neuman, L.C., Attn: David J. Harris, 101 South Hanley,
Suite 1600, St. Louis, MO 63105. 
  
 I. 

Definitions; Sale and Purchase; Contingency Period 
  
 1.1 Definitions. For the purpose of this Agreement, the following terms shall have the meanings indicated: 
  
 (a) Asset Manager shall mean Kate Mashburn. 
  
 (b) Bookings shall mean contracts, reservations and sales files for
the use or occupancy of guest rooms and/or the banquet facilities of the Hotel, to be provided to Purchaser at the Closing. 
  
 (c) Books and Records shall mean all of Seller’s records, files, computer data, and other documentation at the Hotel relating to the operation
of the Hotel, including the Bookings. 
  
 (d) Closing shall
mean the consummation of the purchase and sale of the Property pursuant to this Agreement. 
  
 (e) Closing Date shall mean the date specified in Section 7.1. 
  
 (f) Code shall mean the Internal Revenue Code of 1986, as amended. 
  
 (g) Consumables shall mean all opened and unopened food and beverages (non- alcoholic and to the extent that Seller
is permitted by applicable law to transfer same to Purchaser alcoholic) whether in use or held in reserve storage for future use in connection with the operation of the Hotel. 
  
 (h) Contingency Period - Not Applicable. 
  
 (i) Cut-off Time shall mean 11:59 p.m. on the date preceding the Closing Date. 
  
 (j) Effective Date shall mean the date of the Exercise of Option as
set forth in the Option Agreement. 
  
 (k) Escrow Agent
shall mean the Title Company specified in Section 4.1. 
  
 (l)
Expendables shall mean all china, glassware, linens, silverware, kitchen and bar small goods, paper goods, guest supplies, cleaning supplies, operating supplies, printing, stationery, uniforms and similar items, whether in use or held in
reserve storage for future use in connection with the operation of the Hotel. 
  
 (m) Franchise Agreement shall mean that certain franchise agreement currently in effect between DJONT Leasing, L.L.C. and Franchisor, entitled “Embassy Suites License Agreement”, dated May 1, 1998.

  

 2 

 (n) Franchisor shall mean Promus Hotels, Inc. 
  
 (o) Furnishings shall mean all fixtures, furniture, furnishings,
fittings, equipment, machinery, apparatus, appliances, vehicles and other articles of personal property (other than the Expendables and the Consumables) located at the Property or held in reserve storage for future use in connection with the Hotel,
subject to such depletions, substitutions and replacements as shall occur and be made in the ordinary course of business prior to the Closing Date. 
  
 (p) Ground Lease (not applicable). 
  
 (q) Hazardous Substances shall mean any substance or material which (A) has been or is at any time determined by any state or federal court in a
reported decision to be a waste, pollutant, contaminant, hazardous waste or hazardous substance, (B) has been or is determined by any governmental authority to be a waste, pollutant, contaminant, hazardous waste, hazardous substance or hazardous
material capable of posing a risk of injury to health, safety or property, or (C) is described as, or has been or is determined to be a waste, pollutant, contaminant, hazardous waste, hazardous substance, or hazardous material under any Hazardous
Waste Law. 
  
 (r) Hazardous Waste Law shall mean any law,
statute, ordinance, code, rule, regulation, decree, resolution or requirement promulgated by any governmental authority with respect to Hazardous Substances, including, without limitation, the following: (A) the Resource Conservation and Recovery
Act of 1976, as amended by the Hazardous and Solid Waste Amendments of 1984, 42 U.S.C. Section 6901 et seq.; (B) the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended by the Superfund Amendments
and Reauthorization Act of 1986, 42 U.S.C. Section 9601 et seq.; (C) the Clean Water Act, 33 U.S.C. Section 1251 et seq.; (D) the Safe Drinking Water Act, 42 U.S.C. Section 300f et seq.; (E) the Toxic
Substances Control Act, 15 U.S.C. Sections 2601-2629; (F) the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801 et seq.; (G) the Clean Air Act, 42 U.S.C. Section 7401 et seq.; (H) the Federal Insecticide,
Fungicide, and Rodenticide Act, 7 U.S.C. Section 136 et seq.; and (I) the Occupational Safety and Health Act of 1970, 29 U.S.C. Section 651 et seq. 
  
 (s) Hotel shall mean the hotel and all of its facilities located at 901 North First Street, St. Louis, Missouri 63102
and currently known as the Embassy Suites St. Louis – Downtown. 
  
 (t) Hotel Contracts shall mean all service and maintenance contracts, union contracts, collective bargaining agreements, employee benefit plans, equipment leases, Bookings, and other contracts or agreements, relating to the
maintenance, operation, provisioning or equipping of the Hotel, together with all related written warranties and guaranties, except for the Franchise Agreement, the Management Agreement and the Tenant Lease. 
  
 (u) Hotel Employees shall mean the persons employed by Manager to
operate the Hotel. 
  
 (v) Improvements shall mean the
buildings, structures (surface and sub-surface), installations and other improvements, including such fixtures and appurtenances as shall constitute real property, located on the Land. 
  
 (w) Land shall mean the land having a street address at 901 North First Street, St. Louis, Missouri 63102 and more
particularly described in Exhibit “A” to this Agreement upon which the Hotel is situated, together with all appurtenances thereto. 
  

 3 

 (x) Manager shall mean Promus Hotels, Inc. 
  
 (y) Management Agreement shall mean that certain management agreement
currently in effect between Manager and Tenant. 
  
 (z) Option
Agreement shall mean that certain Option Agreement dated as of November 11, 2003 by and between Seller and Purchaser, which is incorporated herein and made a part hereof for all purposes. 
  
 (aa) Permits shall mean all licenses, franchises, permits,
certificates of occupancy, authorizations and approvals used in or relating to the ownership, occupancy or operation of any part of the Hotel, including, without limitation, those necessary for the sale and on-premises consumption of liquor and
other alcoholic beverages. 
  
 (bb) Permitted Exceptions
shall mean, collectively, (i) the Space Leases, (ii) any lien, encumbrance or security interest created by Purchaser at Closing in connection with Purchaser’s acquisition of the Hotel, (iii) any exceptions to title that are mutually agreed upon
by Seller and Purchaser in writing, and (iv) any survey matters or title exceptions to which Purchaser does not object in accordance with Section 3.1 or Section 4.1, and (v) any survey matters or title exceptions to which Purchaser objects that are
not cured and which Purchaser is deemed to have accepted and approved in accordance with Section 3.1 or Section 4.1; provided, however, that (x) zoning ordinances and regulations, (y) mechanic’s liens caused by Purchaser or its agents, and (z)
standard title exceptions, other than those that may be removed by the execution and delivery of a customary affidavit of Seller (in form reasonably acceptable to Seller) in favor of the Title Company, shall not be deemed Permitted Exceptions
whether or not Purchaser objects thereto. 
  
 (cc) Property
shall mean the Land and Improvements. 
  
 (dd) Space Leases
shall mean all leases and other agreements (written or oral) for the occupancy of office, retail or restaurant space at the Property. 
  
 (ee) Tenant shall mean DJONT Leasing, L.L.C. 
  
 (ff) Tenant Lease shall mean that certain lease agreement currently in effect between Seller and Tenant. 
  
 (gg) Transferred Property shall have the meaning set forth in Section
1.2. 
  
 1.2 Sale and Purchase. Subject to the
exercise of Option (as defined in the Option Agreement), by Purchaser, Seller agrees to sell the Property, the Furnishings, the Consumables (subject to the credit to Seller in Section 7.2 (l)), the Expendables, the assignable Hotel Contracts, the
Space Leases and the assignable Permits (collectively, the “Transferred Property”) to Purchaser, and Purchaser agrees to acquire the Transferred Property from Seller, subject to the terms, covenants, conditions and provisions set forth in
this Agreement. 
  
 1.3 Access. 
  
 (a) Purchaser may, subject to the rights of the tenants and guests of the
Hotel, perform such physical inspections, surveys and studies, and review such other matters related to the Property (including, without limitation, the Hotel Contracts, the Space Leases, the Permits, 
  

 4 

 and all applicable books and records), as Purchaser deems reasonably necessary for its review of the Property
(collectively, “Inspections and Studies”). In connection therewith, Purchaser shall have the right, at its sole risk, responsibility, cost and expense, to enter upon the Property at reasonable times and with reasonable notice to the
Hotel’s Asset Manager for the purpose of conducting such Inspections and Studies. Purchaser shall indemnify, defend and hold Seller harmless from any actions, suits, liens, claims, damages, expenses, losses and liabilities (including reasonable
attorneys’ fees and expenses) arising from or related to Purchaser’s or its agents or contractors entry upon the Property or any such Inspections and Studies, which indemnity shall survive the Closing and any termination of this Agreement.
After any such entry, Purchaser shall promptly restore the Property to its prior condition, if its condition was changed by such entry. 
  
 (b) Prior to the Closing, all contact by Purchaser at the Hotel shall be through the Hotel’s General Manager. 
  
 (c) Not Applicable 
  
 (d) Not Applicable 
  
 (e) Purchaser agrees, at Closing, to assume all of the Hotel Contracts, to
accept the Property subject to all Hotel Contracts, and pay any transfer fee due under any Hotel Contract. Any Hotel Contract that by its terms is not assignable, shall be terminated by Seller as of the Closing Date, and Seller shall pay the cost of
any termination fee to Seller as additional Purchase Price at closing. Purchaser will be solely responsible for obtaining the consent to the transfer of any Hotel Contract, which by its terms requires such consent. 
  
 II. 
 Consideration 
  
 2.1 Consideration. In consideration of the sale of the Transferred Property, Purchaser shall pay to Seller cash in the amount as set forth in Section 4 of the Option Agreement (the “Purchase
Price”), payable as follows: 
  
 (a) One Thousand and No/100
Dollars ($1,000) as an earnest money deposit (together with any interest earned thereon, the “Earnest Money”), which shall be sent by Seller by bank cashier’s check or wire transfer to Escrow Agent upon mutual execution of this
Agreement; and 
  
 (b) the balance of the Purchaser Price, plus or
minus costs and pro-rations, as provided hereafter in Section 7.2, at the closing of the purchase and sale of the Property (“Closing”) by wire transfer of immediately available good funds to Escrow Agent prior to the Closing (“balance
of the Purchase Price”). 
  
 2.2 Earnest Money.
The Earnest Money shall be delivered to and held by Escrow Agent in escrow in an interest-bearing account pursuant to terms of this Agreement. If the Closing occurs in accordance with the terms and provisions of this Agreement, the Earnest Money
shall be paid to Seller and credited against the Purchase Price. If the Closing does not occur, the Earnest Money shall be held and delivered as provided in this Agreement. 
  
 (a) Seller and Purchaser acknowledge and agree that the Earnest Money shall be nonrefundable to Purchaser upon expiration of
the Contingency Period, except upon (x) the failure of any condition precedent to Purchaser’s obligation to purchase the Property, or (y) a breach by Seller hereunder. 
  

 5 

 III. 
 Survey 
  
 3.1
Survey. 
  
 (a) Within ten (10) days from the
Effective Date, Seller shall deliver to Purchaser its most recent survey in respect of the Property (“Survey”). Purchaser shall, on or before the expiration of ten (10 days from the later date of (i) receipt of the Survey or (ii) receipt
of the Title Commitment (“Objection Period”), approve or disapprove in writing the Survey. Purchaser’s failure to either timely approve or disapprove in writing the Survey shall be deemed to constitute Purchaser’s approval of the
same. If Purchaser timely objects to any matters on the Survey, then Seller shall have the right, but not the obligation, to attempt to cure or cause to be cured such objections to the Survey. Seller shall have until 5:00 p.m. (Central Time) on the
date which is ten (10) days after the Objection Period (“Cure Date”) to cure Purchaser’s objections the Survey. If Seller timely cures such objections to the Survey, then the Survey shall be deemed approved. If Seller does not timely
cure the Survey, then Purchaser shall, on or before five (5) days after the Cure Period, either (i) terminate this Agreement by depositing with Seller and Escrow Agent a written notice of termination, whereupon Escrow Agent shall release and return
the Earnest Money to Purchaser, or (ii) waive in writing its objection to the Survey. Purchaser’s failure to timely deposit with Seller and Escrow Agent a written notice of termination or waive its objection to the Survey shall be deemed to
constitute Purchaser’s waiver of its objection to the Survey. 
  
 (b) Provided that Purchaser does not terminate this Agreement under Section 1.3 above, this Section 3.1 or Section 4.1 below, within ten (10) days after the expiration of the Contingency Period, Seller shall cause the Survey to be
re-certified to Purchaser and to Purchaser’s lender in form required by Purchaser (subject to Seller’s reasonable approval) and to be updated or otherwise modified to allow the Title Company to issue at the Closing an extended coverage
ALTA owner’s policy of title insurance in favor of Purchaser covering the Property. Purchaser shall have ten (10) days after receipt of the updated Survey to object to any material matters disclosed therein which were not disclosed on the
Survey. 
  
 IV. 
 Title Insurance 
  
 4.1 Title Commitment. Within ten (10) days from the Effective Date, Seller will deliver to Purchaser a preliminary title report (and
complete legible copies of all documents or items referenced therein as exceptions) issued by Stewart Title North Texas, 1717 Main Street, Suite 3500, Dallas, Texas 75201, 214/220-2060, (Attn: Joyce Beal) as agent for Stewart Title Guarantee
Corporation (“Title Company”) in respect of the Property (collectively, “Title Commitment”). Purchaser shall, on or before the expiration of the Objection Period, approve or disapprove in writing the Title Commitment.
Purchaser’s failure to either timely approve or disapprove in writing the Title Commitment shall be deemed to constitute Purchaser’s approval of same, and such shall then become Permitted Exceptions. If Purchaser timely disapproves any
item set forth in the Title Commitment, then Seller shall have the right, but not the obligation, to attempt to cure or cause to be cured such disapproved item. Seller shall have until 5:00 p.m. 
  

 6 

 (Central Time) on the Cure Date to cure such disapproved item. If Seller timely cures all disapproved items, then the
Title Commitment shall be deemed approved, and all other exceptions therein shall then become Permitted Exceptions. If Seller does not timely cure all disapproved items, then Purchaser shall, on or before five (5) days after the Cure Period, either
(i) terminate this Agreement by depositing with Seller and Escrow Agent a written notice of termination, whereupon Escrow Agent shall release and return the Earnest Money to Purchaser, or (ii) waive in writing its objection to the disapproved items,
which shall then become Permitted Exceptions. Purchaser’s failure to timely deposit with Seller and Escrow Agent a written notice of termination or waive its objection to the disapproved items shall be deemed to constitute Purchaser’s
waiver of its objection to said items and such shall become Permitted Exceptions. 
  
 4.2 Title Conveyed. Seller shall, on the Closing Date, convey to Purchaser fee title to the Property. 
  
 V. 
 Representations, Warranties,
Covenants 
 and Conditions Precedent 
  
 5.1 Seller’s Representations and Warranties. Seller represents and warrants to Purchaser that: 
  
 (a) Seller is a duly organized and validly existing limited partnership, is
in good standing in the State of Delaware, and has full power to enter into this Agreement and to perform its obligations under this Agreement. 
  
 (b) The execution and delivery of this Agreement has been or will be duly authorized by all necessary and appropriate partnership action of Seller.

  
 (c) No consent or approval of any person, entity, or
governmental authority is required with respect to the execution and delivery of this Agreement by Seller or the consummation by Seller of the transactions contemplated hereby or the performance by Seller of its obligations under this Agreement
except for such consents as shall be obtained by Seller prior to the Closing. 
  
 (d) There are no Space Leases affecting all or any portion of the Transferred Property except as set forth in Exhibit “B” to this Agreement, which Exhibit “B” and copies
of the Space Leases containing all material provisions thereof will be delivered to Purchaser within ten (10) days from the Effective Date. To the best of Seller’s knowledge, all of the Space Leases to be described in Exhibit
“B” are in full force and effect, and there are no material defaults by any party thereunder, nor any circumstance existing that, but for giving of notice or passage of time, constitutes a material default. 
  
 (e) To the best of Seller’s knowledge, there are no Hotel Contracts
affecting the Transferred Property except as set forth in Exhibit “C” to this Agreement, which Exhibit “C” and copies of the Hotel Contracts containing all material provisions thereof will be provided
to Purchaser within ten (10) days from the Effective Date. All of the Hotel Contracts to be described in Exhibit “C” are in full force and effect, and there are no material defaults by any party thereunder, nor any
circumstance existing that, but for giving of notice or passage of time, constitutes a material default. 
  

 7 

 (f) To the best of Seller’s knowledge, all Permits necessary for the operation of the Hotel are set
forth in Exhibit “D” to this Agreement, which Exhibit “D” and copies of the Permits containing all material provisions thereof will be delivered to Purchaser within ten (10) days from the Effective
Date. Except as otherwise disclosed to Purchaser in writing, Seller has received no written notice of any material violations of any Permit. 
  
 (g) Except as otherwise disclosed to Purchaser on Exhibit “E” to this Agreement, which will be delivered to Purchaser within ten
(10) days from the Effective Date, Seller has received no written notice of material violations of laws, ordinances, orders or regulations (“Laws”) of governmental or quasi-governmental authorities with respect to the Transferred Property
(including, without limitation, those related to environmental, zoning, land-use, labor or employment matters). 
  
 (h) Except as otherwise set forth on Exhibit “F” to this Agreement, which will be delivered to Purchaser within ten (10) days from
the Effective Date, Seller is not currently involved in any litigation or other proceedings which, if, adversely determined, would have a material adverse effect on operation of the Transferred Property, or the financial condition or results of
operations of the Transferred Property, nor has Seller received any written notice that any such litigation or other proceedings are to be instituted. 
  
 (i) Within ten (10) days from the Effective Date, Seller will provide to Purchaser (i) all existing copies, in Seller’s possession or control, of all
bills for real estate and personal property taxes and assessments for the current tax year and the two (2) immediately preceding tax years, and (ii) to the best of Seller’s knowledge, a true and complete list by position only, without names, of
the current Hotel Employees, together with a schedule setting forth the compensation and fringe benefits (including, but not limited to, benefit plans) accorded to such Hotel Employees. 
  
 (j) Within ten (10) days from the Effective Date, Seller shall deliver to Purchaser financial statements for the Hotel
(consisting of un-audited financial statements for the last three (3) years to the extent they have been prepared and are in the Seller’s reasonable control or possession) and that, to the best of Seller’s knowledge, all of these financial
statements are in all material respects true and correct and fairly represent the financial condition of the Hotel as of the dates stated therein and there have been no material adverse change in the financial condition of the Hotel since the date
of such statements. 
  
 (k) Seller owns good and marketable title
to the Consumables, Expendables and Furnishings (other than those items leased or loaned to Seller as described in Exhibits “B” and “C”) subject only to the Permitted Exceptions. 
  
 (l) Other than the agreements disclosed in this Agreement and the Exhibits to
this Agreement, there are no agreements, written or oral, affecting the Transferred Property, which would be binding on Purchaser following the Closing. 
  
 (m) Seller is not a “foreign person” as defined in the Code. 
  
 (n) All sales taxes (other than those sales taxes, if any, arising from the sale of the Transferred Property from Seller to
Purchaser), hotel/motel occupancy taxes and similar taxes that are due as of the Closing Date in the ordinary course of business have been paid in full (or will be provided for at the Closing pursuant to the provisions of Section 7.2 below) and all
required reports and returns relating thereto have been, or will be, timely filed. 
  

 8 

 5.2 Purchaser’s Representations and Warranties. Purchaser represents and warrants to
Seller that: 
  
 (a) Purchaser is a duly organized and validly
existing limited liability company, is in good standing in the State of Missouri and has full power to enter into this Agreement and to perform its obligations under this Agreement. 
  
 (b) The execution and delivery of this Agreement has been or will be duly authorized by all necessary and appropriate
limited liability company action of Purchaser. 
  
 (c) No consent
or approval of any person, entity, or governmental authority is required with respect to the execution and delivery of this Agreement by Purchaser or the consummation by Purchaser of the transactions contemplated hereby or the performance by
Purchaser of its obligations under this Agreement except for such consents as shall be obtained by Purchaser prior to the Closing. 
  
 (d) Purchaser is an experienced purchaser and operator of hotels and real property such as the Property, and Purchaser acknowledges and agrees that
Purchaser has made or will make prior to Closing, such independent investigations, inspections, analyses and research as Purchaser has deemed necessary or appropriate (or, in the alternative, Purchaser has elected at its risk not to make such
investigations, inspections, analyses and research), concerning the condition, ownership, use and operation of the Property, including, but not limited to, investigations, inspections, analyses and research of: (i) present and future laws, statutes,
rules, regulations, ordinances, limitations, restrictions or requirements concerning the use, location and suitability of the Property or any existing or proposed development or build-out or condition thereof (collectively “Regulations”),
including, but not limited to, zoning, environmental and other such Regulations; (ii) the necessity and availability of any building permits, environmental impact reports, or any other governmental permits, approvals, entitlements or acts in respect
of the Property (collectively, “Approvals”); (iii) the necessity or existence of any dedications, fees, charges, costs or assessments that may be imposed in connection with any Regulations or the obtaining of any Approvals; (iv) the
economic value of the Property; (v) the seismic and structural integrity of the Improvements; (vi) any surface, soil, subsoil, geologic or ground water conditions or other physical conditions of or affecting the Property; (vii) the extent or
condition of title to the Property and the extent of existing encumbrances against the Property, both as reflected in the Survey and Title Commitment; (viii) the operation and management of the Hotel; (ix) any labor union or employment matters
affecting the Hotel; and (x) the presence, use, transportation or storage of Hazardous Substances on, over, under or nearby the Property. 
  
 (e) Purchaser is relying solely upon its own inspections, investigations, research and analyses of the matters set forth in Section 5.2(d) above in
entering into this Agreement and, except for the representations and warranties of Seller set forth in Section 5.1 above, is not relying in any way upon any representations, warranties, statements, plans, specifications, cost estimates, studies,
reports, descriptions, guidelines or other information or material furnished by Seller or its representatives to Purchaser or its representatives, whether oral or written (all such matters herein referred to as the “Delivered
Information”), express or implied, of any nature whatsoever regarding any such matters. Except as otherwise provided in Section 5.3 below, Seller shall have no liability with respect to the accuracy or completeness of the Delivered Information.

  

 9 

 (f) Subject to the representations and warranties of Seller set forth in Section 5.1 above, Purchaser
agrees that: (i) Purchaser shall accept the Property in its present state and condition and “AS-IS WITH ALL FAULTS”; (ii) Seller shall not be obligated to do any restoration, repairs or other work of any kind or nature whatsoever on the
Property and, specifically, but without derogating from the generality of the foregoing, Seller shall not be responsible for any work on or improvement of the Property necessary (A) to cause the Property to meet any applicable laws, statutes,
ordinances, rules, regulations, codes, covenants, conditions or restrictions dealing with the presence, use, transportation or storage of Hazardous Substances, or (B) to repair, retrofit or support any portion of the Improvements due to the seismic
or structural integrity (or any deficiencies therein) of the Improvements; and (iii) no patent or latent condition affecting the Property in any way, whether or not known or discoverable or discovered after the Closing Date, shall affect
Purchaser’s obligation to purchase the Property or to perform any other act otherwise to be performed by Purchaser under this Agreement, nor shall any such condition give rise to any action, proceeding, claim or right of damage or rescission
against Seller. 
  
 5.3 Remedies Regarding Representations
and Warranties. By executing and delivering the documents listed in Section 7.4(a) below, Seller shall be deemed to have made all of the foregoing representations and warranties of Seller in Section 5.1 above, as of the date hereof and as of
the Closing. Should any of such representations and warranties be found to be incorrect in any material respect prior to the Closing, Seller shall have the option, but not the obligation, to cure same by Closing, and the Closing shall be postponed
until five (5) days following Purchaser’s receipt of proof satisfactory to Purchaser that such matters have been cured; provided, however, if Seller is unable or unwilling to cure the same within fifteen (15) days from the scheduled Closing
Date, Purchaser shall have the option either to waive the same and close this transaction or to terminate this Agreement. In the event Purchaser elects to terminate this Agreement pursuant to this Section 5.3, Escrow Agent shall return the Earnest
Money to Purchaser and neither party to this Agreement shall thereafter have any further rights or liabilities under this Agreement, except that (i) Seller shall pay the expenses of Escrow, and (ii) Purchaser shall continue to be obligated under the
indemnity provisions set forth in Section 1.3 above and the confidentiality provisions set forth in Section 9.13 below. In the event Purchaser elects to waive Seller’s incorrect representations and warranties and close this transaction, such
waiver shall be deemed to include any and all claims associated with the same, including any post-closing survivability or post-closing indemnity. The representations and warranties of Seller shall survive the Closing for a period of one (1) year,
and Seller shall indemnify and hold Purchaser harmless from and against any loss, damage, liability, claim, cost or expense (including, without limitation, reasonable attorneys’ fees) that may be incurred by or asserted against Purchaser and
arises from a breach of Seller’s representation or warranty, provided that Purchaser shall advise Seller of such breach within one year after the Closing. Notwithstanding any other provision contained in this Section 5.3 to the contrary, (a)
Seller shall be obligated to indemnify and hold Purchaser harmless with respect only to losses, damages, liability, claims, costs 
  

 10 

 or expense (including, without limitation, reasonable attorneys’ fees) to the extent caused by one or more breaches
of Seller’s warranties and representations which in the aggregate exceed Two Hundred Fifty Thousand Dollars ($250,000.00) however, in such event, Purchaser shall be indemnified to the full extent of such losses, damages, liability, claims,
costs or expense of Purchaser, subject to the provisions of Section 5.3 (b) below and (b) Purchaser shall have no right to file an action for rescission in connection with any breaches of Seller’s representations or warranties and Seller’s
aggregate liability to Purchaser with respect to any and all such breaches of Seller’s representations or warranties (excluding the representations and warranties set forth in Sections 5.1(k), 5.1(m) and 5.1(n) for which there shall be no
limitation on liability) shall not exceed ten percent (10%). If the Purchase Price and Purchaser hereby waives any damages, costs and expenses in excess of 10% of the Purchase Price. This Section 5.3 shall survive the Closing provided, however,
Purchaser’s rights to assert a claim hereunder shall survive Closing for a period of one (1) year only. 
  
 5.4 Covenants. Seller or Purchaser, as applicable, covenant and agree that prior to the Closing (and with respect to Section 5.4(l) below,
from and after the Closing) 
  
 (a) Seller shall assist Purchaser
and Purchaser’s agents, on or before Closing, in acquiring all information necessary to enable Purchaser’s agents and Seller’s agents to compute the pro-rations described in Section 7.2 of this Agreement. 
  
 (b) Seller will not sell, exchange, assign, transfer, convey, lease or
otherwise dispose of all or any part of the Transferred Property or any interest therein except for Furnishings, Consumables and Expendables which are sold or consumed and replaced or replenished by Seller in the ordinary course of business, without
the prior approval of Purchaser, which approval shall not be unreasonably withheld or delayed; provided, however, that in the event Purchaser fails to respond to Seller within three (3) business days after Purchaser is notified of such disposition,
such failure to respond shall be deemed to constitute Purchaser’s approval of same. 
  
 (c) Seller will not amend in any material respect or terminate any Space Leases, Hotel Contracts or Permits without the prior approval of Purchaser, which approval shall not be unreasonably withheld or delayed
provided, however, that in the event Purchaser fails to respond to Seller within three (3) business days after Purchaser is notified of such amendment or termination, such failure to respond shall be deemed to constitute Purchaser’s approval of
same, Seller will pay all charges prior to delinquency under such agreements, and Seller will perform all of its obligations under such agreements. 
  
 (d) Seller will not enter into any contracts, licenses, easements or other agreements relating to the Transferred Property which will obligate Purchaser
or be a charge or lien against the Property, except those necessary to continue the operation of the Hotel in the ordinary course of business and which are terminable without penalty on no more than thirty (30) days notice, without the prior
approval of Purchaser, which approval shall not be unreasonably withheld or delayed; provided, however, that in the event Purchaser fails to respond to Seller within three (3) business days after Purchaser is notified of such matters, such failure
to respond shall be deemed to constitute Purchaser’s approval of same. 
  
 (e) Seller will cause the Transferred Property to be operated and maintained in the manner in which it is being operated and maintained as of the date of this Agreement which undertaking includes, but is not limited
to, (i) maintaining Expendables, Furnishings and Consumables of such quantities and quality as are consistent with Seller’s current practices and (ii) instructing Manager to enter into Bookings on Seller’s behalf in the ordinary course of
business. 
  

 11 

 (f) If applicable, Seller will cooperate in all reasonable respects (which shall include, without
limitation, supplying information known to Seller and execution of such documents as may be legally required) with Purchaser in connection with the application for transfer of any existing alcoholic beverage licenses held by Seller or its agent in
connection with its operation of the Hotel (the “Liquor License”) to Purchaser or Purchaser’s application for a new Liquor License (as the case may be, the “Liquor Application”). Purchaser shall diligently and in good faith
proceed with the Liquor Application, and use commercially reasonable efforts to have the Liquor License either transferred to Purchaser, or a new Liquor License obtained, prior to Closing. Without limiting the generality of the foregoing, if the
Purchaser is unable to obtain the transfer of the Liquor License or to obtain a new Liquor License prior to the Closing, then, on the Closing Date, Seller shall use reasonable efforts (not to include by Seller the expenditure of any money or
guaranty of any obligation) to arrange for Manager to agree to enter into an interim arrangement with Purchaser for a period not to exceed ninety (90) days (the “Interim Agreement”) whereby Manager shall operate for the fee below the
liquor concessions at the Hotel on behalf of Purchaser pending the transfer or issuance of the Liquor License to Purchaser and Purchaser shall in the Interim Agreement, indemnify, defend and hold Seller and Manager harmless from and against any and
all claims, liabilities, costs and expenses (including, without limitation, reasonable attorneys’ fees and costs) arising in connection with such operation. If Manager so agrees, Purchaser shall pay directly to Manager at Closing a fee for such
Interim Agreement of One Thousand Dollars ($1000.00) per month or a total of Three Thousand Dollars ($3,000.00), with the Interim Agreement providing for a refund to Purchaser for any month such Interim Agreement is not in effect. 
  
 (g) Seller will give the appropriate notice to Manager and shall take all
other action reasonably necessary to terminate the Management Agreement effective on the Closing Date. Seller will also give the appropriate notice to Tenant and shall take all other action reasonably necessary to terminate the Tenant Lease
effective on the Closing Date. 
  
 (h) Seller will maintain until
the Closing Date the Hotel’s existing insurance coverage. 
  
 (i) Seller will not take any actions that will (i) materially adversely affect title to the Transferred Property, and (ii) cause the representations or warranties of Seller set forth in Section 5.1 above to be materially untrue as of the
Closing Date. 
  
 (j) At the Closing, Purchaser shall become the
owner of all Books and Records; provided, however, Seller or Manager may prior to or at the Closing photocopy and remove from the Hotel any of the Books and Records other than the Bookings. Following the Closing, Purchaser shall allow Seller and
Seller’s representatives reasonable access to the Books and Records. Purchaser shall retain possession and control of the Books and Records for a period of not less than four (4) years after the Closing Date. 
  
 5.5 Conditions Precedent to Purchaser’s Obligations.
Purchaser’s obligations under this Agreement are conditioned upon the satisfaction of the following conditions as of the Closing Date: 
  
 (a) Seller’s representations and warranties set forth in this Agreement shall continue to be materially true and accurate, irrespective (for purposes
of this Section 5.5(a) only) of any qualification therein for “Seller’s knowledge.” 
  

 12 

 (b) Seller shall have performed all of its material obligations under this Agreement. 
  
 (c) Subject to the provisions of Article VIII, the Transferred Property shall
on the Closing Date be in the same condition as on the expiration of the Contingency Period except as attributable to ordinary wear and tear and depletion and replenishment of Consumables and Expendables in the ordinary course of business.

  
 (d) The Franchise Agreement, Tenant Lease and Management
Agreement shall each be terminated as of the Closing Date and Seller shall deliver possession of the Property to Purchaser at the Closing Date free and clear of such Agreements (subject to the provisions of Section 5.6 below). 
  
 If any of the foregoing conditions have not been satisfied as of the Closing
Date, then Purchaser shall be entitled to terminate this Agreement by giving Seller written notice to such effect, whereupon Escrow Agent shall return the Earnest Money to Purchaser and the parties shall thereafter have no further rights or
liabilities under this Agreement, except that (i) Seller shall pay the expenses of Escrow, and (ii) Purchaser shall continue to be obligated under the indemnity provisions set forth in Section 1.3 above and the confidentiality provisions set forth
in Section 9.13 below. In the event Purchaser elects not to terminate this Agreement, then such unsatisfied condition shall be deemed waived by Purchaser. 
  
 5.6 Conditions Precedent to Seller’s Obligations. Seller’s obligations under this Agreement are conditioned upon the satisfaction
of the following conditions as of the Closing Date: 
  
 (a)
Purchaser’s representations and warranties set forth in this Agreement shall continue to be materially true and accurate. 
  
 (b) Purchaser shall have performed all of its material obligations under this Agreement. 
  
 If (a) and (b) of the foregoing conditions have not been satisfied as of the Closing Date then Seller shall be entitled to
terminate this Agreement by giving Purchaser written notice to such effect, whereupon Escrow Agent shall return the Earnest Money to Purchaser and the parties shall thereafter have no further rights or liabilities under this Agreement, except that
(i) Seller shall pay the expenses of Escrow, and (ii) Purchaser shall continue to be obligated under the indemnity provisions set forth in Section 1.3 above and the confidentiality provisions set forth in Section 9.13 below. In the event Seller
elects not to terminate this Agreement, then such unsatisfied condition shall be deemed waived by Seller. 
  
 5.7 Financial Statements. If Purchaser desires prior to or after the Closing to cause financial statements for any of years prior to Closing
to be produced, then Seller, at Purchaser’s expense, shall cooperate with Purchaser therein in all reasonable respects including, but not limited to, providing such records to Purchaser and its auditors as may be necessary to produce such
statements. The cost of producing such statements shall be borne by Purchaser. The preparation of such statements shall not be a condition to the Closing. 
  

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 VI. 
 Remedies 
  
 6.1
Seller’s Remedies. Prior to entering into this transaction, Purchaser and Seller have discussed the fact that substantial damages will be suffered by Seller if Purchaser shall fail to perform its obligations under this Agreement. Due
to the fluctuation in land values, the unpredictable state of the economy and of governmental regulations, the fluctuating money market for real estate loans of all types, and other factors which directly affect the value and marketability of the
Property, the parties recognize that it would be extremely difficult and impracticable, if not impossible, to ascertain with any degree of certainty the amount of damages which would be suffered by Seller in the event of Purchaser’s failure to
perform its obligations under this Agreement. After making diligent but unsuccessful attempts to ascertain the actual compensatory damages Seller would suffer in the event of Purchaser’s nonperformance of any material obligation hereunder, the
parties agree that a reasonable estimate of Seller’s damages in such event is the amount of the Earnest Money, and in the event of Purchaser’s failure to perform its obligation under this Agreement to purchase the Property, so long as such
failure is not caused by (i) the failure of any condition precedent to Purchaser’s obligation under this agreement to purchase the Property, or (ii) Purchaser’s termination of this Agreement in accordance with its terms, Seller shall, as
its sole remedy, be entitled to receive and retain such sum as liquidated damages, provided that, upon the occurrence of an event entitling Seller to retain the Earnest Money as liquidated damages, Purchaser upon demand from Seller waives and
releases in writing all rights to purchase the Property. Retention of such amount by Seller shall constitute liquidated damages to Seller. 
  
 6.2 Purchaser’s Remedies. If Seller fails to perform its obligations under this Agreement arising prior to the Closing Date for any
reason except the failure of any condition precedent to Seller’s obligations under this Agreement, then Purchaser shall have the right to exercise any one of the following as its sole and exclusive remedy: (a) to terminate this Agreement by
giving Seller written notice of such election prior to or at the Closing whereupon Escrow Agent shall promptly return the Earnest Money and all Option Fees paid to Optionor under the Option Agreement, to Purchaser; (b) to waive the default and
close; or (c) to enforce specific performance of this Agreement. 
  
 6.3 Attorneys’ Fees. If any litigation or other enforcement proceeding is commenced in connection with this Agreement, then the prevailing party shall be entitled to receive payment of its reasonable attorneys’ fees
and expenses and court costs from the other party. 
  
 VII.

 Closing Matters 
  
 7.1 Closing Date. The Closing shall be held ninety (90) days after the Effective Date or such other date as Seller and Purchaser shall agree
upon in writing (the “Closing Date”). At the request of either Seller or Purchaser, some or all of the funds and documents to be transferred hereunder may be delivered through an escrow with Escrow Agent. Purchaser and Seller shall execute
appropriate instructions to implement the opening and closing of such escrow. 
  

 14 

 7.2 Adjustment and Pro-rations. The matters and items set forth below shall be apportioned
between Seller and Purchaser or, where applicable, credited in total to a particular party: 
  
 (a) Taxes. All real and personal property taxes and special assessments, if any, whether payable in installments or not, shall be prorated as of
the Cut-Off Time. If such taxes for the tax year in which the Closing occurs have not been finally determined on the Closing Date, then such taxes shall be prorated on an estimated basis using the most current information available. When such taxes
have been finally determined, the parties shall recalculate such prorations and any amount payable by Seller or Purchaser shall be paid to the other party within fifteen (15) days after such taxes are finally determined. 
  
 (b) Room Rentals. One-half (50%) of the room rentals attributable to
the night prior to the Closing Date shall be the property of Seller and the remaining one-half (50%) shall be the property of Purchaser. Room rentals attributable to any night prior to the night prior to the Closing Date shall be the property of
Seller. 
  
 (c) Reservation Deposits. Prepaid and unearned
reservation deposits and other such third party prepaid items relating to periods after the Cut-Off Time shall be transferred to Purchaser, or the amounts thereof credited to Purchaser, at the Closing. 
  
 (d) Utility Charges. Utility charges for telephone, gas, electricity,
sewer, water and other services shall not be prorated to the extent that Seller can make arrangements for the rendering of final bills based on meter readings as of the Cut-Off Time. Seller shall be responsible for the payment at the Closing of all
bills for utility charges up to and including the Cut-Off Time. To the extent that utility bills cannot be rendered as of the Closing Date, such charges for the period through the Cut-Off Time shall be prorated as of the Cut-Off Time based upon the
most recent available bills and readjusted on the basis of the actual bills as and when received. Any utility deposits shall be transferred to Purchaser and credited to Seller at the Closing. 
  
 (e) Operating Expenses and Trade Accounts. At Closing, Seller shall
received a credit for all prepaid expenses. Seller shall be responsible for all operating expenses and trade accounts of the Transferred Property (including, without limitation, charges and fees payable under the Hotel Contracts and all hotel/motel
sales and occupancy taxes) up to and including the Cut-Off Time; provided, however, that Purchaser shall be responsible for all purchase orders (“Purchase Orders”) made by Seller in the ordinary course of business for Expendables or
Consumables not delivered to the Hotel as of the Closing Date. To the extent the amounts of such items are then known, Seller shall pay such items at the Closing, and Seller shall pay the balance of such items in the ordinary course of business, but
in no event later than the date which is forty-five (45) days after the date on which Seller receives written invoices for such items. Notwithstanding the foregoing, Purchaser acknowledges and agrees that Seller may postpone and/or contest payment
of any operating expense or trade account which is the subject of a bona fide dispute. Seller agrees to indemnify and hold Purchaser harmless from and against any claims or other matters relating to such contested operating expenses and trade
accounts. All operating expenses and trade accounts accruing after the Cut-Off Time (“Post-Closing Expenses”) shall be the responsibility of Purchaser. Purchaser agrees to indemnify and hold Seller harmless from and against any claims or
other matters relating to (i) the Purchase Orders, or (ii) the Post-Closing Expenses. This Section shall survive the Closing. 
  

 15 

 (f) Food, Beverage and Other Income. Revenues from food, beverage and banquet services, room
service, public room revenues, health club revenues and other services rendered to guests of the Hotel and the expenses related thereto attributable to the night prior to Closing shall be the Property of Seller. This Section shall survive the
Closing. 
  
 (g) Rents. All rentals under the Space Leases
(including fixed rents and charges in respect of electricity, operating expenses and taxes) shall be prorated as of the Cut-Off Time if, as and when collected. If there are any arrearages under the Space Leases as of the Closing Date, any rents
collected by Seller or Purchaser after the Closing Date with respect to such Space Leases shall be applied first to any arrearages for the calendar month in which the Closing occurs, second to any arrearages for the calendar month immediately
preceding the calendar month in which the Closing occurs, third to any arrearages for the months after the calendar month in which the Closing occurs, and fourth to any other arrearages. Payments from tenants for electricity,operating expenses and
taxes which are billed to tenants in arrears or on an estimated basis shall be prorated on such basis and readjusted if, as and when such amounts are finally determined and collected. This Section shall survive the Closing. 
  
 (h) Employees. Seller shall pay to Hotel Employees, as provided in
Section 7.7, all wages that any Hotel Employee is owed, as of the Closing Date, pursuant to statute, collective bargaining agreement or contract. 
  
 (i) Security Deposits. Any security deposits under the Space Leases shall be transferred to Purchaser at the Closing or credited against the
Purchase Price. 
  
 (j) Cash. All cash on hand in house
banks (including the general manager’s petty cash fund) on the morning of the Closing Date shall become the property of Purchaser and the amount thereof shall be credited to Seller at the Closing. 
  
 (k) Tray Ledger and Other Receivables. All accounts receivable of any
kind attributable to guests in the Hotel on the night preceding the Closing (the “Ledger”) shall be prorated as provided in this Agreement, Seller’s share shall be credited to Seller at Closing and the Ledger shall become the property
of Purchaser. All other accounts receivable that are the property of Seller under this Agreement shall be set forth in a schedule on the Closing Date and shall remain the property of Seller. Purchaser shall use commercially reasonable efforts to
collect such receivables (provided that in no event shall Purchaser be required to commence any litigation in connection therewith) and shall cooperate with Seller, at Seller’s cost, in reasonable respects in connection with any collection
efforts of Seller, which efforts may include, without limitation, the commencement of litigation by Seller against the applicable debtor. If any receivables which are the property of Seller under this Agreement shall be collected by Purchaser,
Purchaser shall remit the same to Seller within fifteen (15) days after receipt, provided that Purchaser may offset against such collections any amounts unpaid by Seller under Section 7.2(e). Any monies collected by Purchaser from any customer after
the Closing Date shall be applied first against the receivables of such customer accruing prior to the Closing Date, unless such receivable is subject to a good faith dispute and such customer specifically notes that such payment is to be applied
otherwise. This Section shall survive the Closing. 
  
 (l)
Existing Consumables Inventory. Seller shall at Closing receive a credit for the value of the Hotel’s existing inventory of unopened containers of Consumables. 
  

 16 

 To the extent that any of the items described above cannot be finally determined on the Closing Date,
then such items shall be prorated on an estimated basis using the most current information. Within ninety (90) days after the Closing Date, Seller and Purchaser shall recalculate such prorations and any amount payable by Seller or Purchaser shall be
paid to the other party within fifteen (15) days after such recalculation. 
  
 7.3 Guest Property in Seller’s Possession on Closing Date. Property of guests of the Hotel in Seller’s care, possession or control (excluding that in guest rooms) on the Closing Date shall be
handled in the following manner: 
  
 (a) Safe Deposit
Boxes. On the Closing Date, Seller shall cause notice to be sent to all guests of the Hotel who have safe deposit boxes advising them of the pending sale of the Property and requesting the removal and verification of the contents of such safe
deposit boxes within three (3) days after the Closing Date. Seller may have a representative present at the Hotel during such three (3) day period for the purpose of viewing such removal and verification. Boxes of guests not responding to the
written notice shall be listed at the end of such three day period. Such boxes shall be opened on the following day in the presence of representatives of Seller and Purchaser to be agreed upon between Seller and Purchaser and the contents thereof
shall be recorded. Any property contained in the safe deposit boxes and so recorded and thereafter remaining in the hands of Purchaser shall be the responsibility of Purchaser; and Purchaser hereby agrees to indemnify and save and hold Seller
harmless from and against any claim or obligation arising out of or with respect to such property. Seller shall be responsible for, and shall indemnify and hold Purchaser harmless from and against, any claim for property placed in the safe deposit
boxes before the Closing that is not listed in said inventory. 
  
 (b) Baggage Inventory. All guest baggage and other guest property checked and left in the possession, care and control of Seller shall be listed in an inventory to be prepared in duplicate and signed by Seller’s and
Purchaser’s representatives on the Closing Date. Purchaser shall be responsible from and after the Closing Date for all baggage (and the contents thereof) and other guest property listed in inventory, Purchaser agrees to indemnify and save and
hold Seller harmless from and against any claim arising out of or with respect to the baggage listed in the inventory, and Seller agrees to indemnify and save and hold Purchaser harmless from and against any claim arising prior to the Closing Date
out of or with respect to any guest baggage or other guest property not listed in the inventory. 
  
 (c) This Section 7.3 shall survive the Closing. 
  
 7.4 Closing Documents. 
  
 (a) On or before the Closing Date, Seller shall deliver into Escrow or to Purchaser, as appropriate: 
  

	 	(i)	a special warranty grant deed conveying the fee estate in the Property to Purchaser, duly authorized, executed and acknowledged by Seller, in the form commonly used in the state
where the Property is located (“Special Warranty Deed”); 

  

 17 

	 	(ii)	a standard coverage ALTA owner’s policy of title insurance or an extended coverage ALTA owner’s policy of title insurance if requested by Purchaser, in the amount of the
Purchase Price, showing title vested in Purchaser, and containing no exceptions to title other than the Permitted Exceptions (“Title Policy”); 

  

	 	(iii)	a bill of sale transferring to Purchaser all of the Furnishings, Expendables and Consumables (other than those items leased or loaned to Seller as described in Exhibits
“B” and “C”), duly authorized and executed by Seller, in the form reasonably approved by the Seller and Purchaser, together with original certificates of title for all vehicles that are part of the Transferred
Property, endorsed to transfer same to Purchaser (and any necessary governmental forms to effect the transfer); 

  

	 	(iv)	two (2) counterparts of an Assignment and Assumption Agreement conveying and transferring to Purchaser all of the Bookings, the Space Leases, the Hotel Contracts, and the assignable
Permits, duly authorized and executed by Seller, in the form reasonably approved by Seller and Purchaser; 

  

	 	(v)	possession of the Property and any and all plans and specifications for the Improvements on the Property in Seller’s possession; 

  

	 	(vi)	a certified copy of such partnership authorizations, approvals and incumbencies of Seller as the Title Company shall reasonably require; 

  

	 	(vii)	a FIRPTA Affidavit in form required by the Internal Revenue Service; 

  

	 	(viii)	a customary settlement statement reflecting the parites respective costs of Closing hereunder. 

  
 (b) On or before the Closing Date, Purchaser shall deliver into Escrow or to Seller, as appropriate: 
  

	 	(i)	the balance of the Purchase Price and any other funds needed to satisfy Purchaser’s obligations hereunder; 

  

	 	(ii)	two (2) counterparts of the Assignment, duly authorized and executed by Purchaser; and 

  

	 	(iii)	such limited liability company authorizations, approvals and incumbencies as Seller or the Title Company shall reasonably require. 

  

	 	(iv)	a customary settlement statement reflecting the parties respective costs of Closing hereunder. 

  
  
 7.5 Closing Costs. Seller shall
pay for, the cost of the updated Survey and one-half of any escrow fees and costs. Purchaser shall pay all costs associated with its due diligence investigations, all recording costs, the premium attributable to the standard coverage portion and the
extended coverage portion of the Title Policy (and any endorsements or affirmative coverages), and one-half of any escrow fees and costs. Each party shall pay its own attorneys’ fees and one-half of any real estate transfer taxes. Purchaser
shall pay all sales or use taxes due on the sale, and Seller and Purchaser shall execute and deliver such transfer and sales tax returns as may be required by law. 
  
 7.6 Real Estate Commissions. Seller and Purchaser each represent and warrant to the 
  

 18 

 Other that it has not dealt with any broker or finder in the negotiation of this transaction other than as set forth in
the Option Agreement. Each party agrees to and does hereby indemnify and hold the other harmless against the payment of any commission or finder’s fee to any other person or entity claiming by, through or under such party, as applicable. This
Section shall survive the Closing. 
  
 7.7 Hotel
Employees. Seller shall terminate or arrange for the termination of all Hotel Employees as of the Closing Date and shall pay to Hotel Employees all wages that any Hotel Employee is owed, as of the Closing Date, pursuant to statute,
collective bargaining agreement or contract, and such Hotel Employees’ wages, benefits and total remuneration shall be apportioned as of the Cut-Off Time. Any required adjustment in such credits or payments shall be made within thirty (30) days
after the Closing Date. Purchaser or its management company shall, before the Closing, offer employment to all then-current Hotel Employees, at salary and benefits substantially similar to what each then current Hotel Employee was earning at the
time of the Closing, other than the General Manager (who Purchaser may, but is not obligated, to offer such employment) . 
  
 Seller will indemnify and hold Purchaser harmless from and against any loss, damage, liability, claim, cost or expense (including, without limitation,
reasonable attorneys’ fees) that may be incurred by, or asserted against, Purchaser after the Closing which involves any matter relating to a past or present Hotel Employee to the extent concerning acts or omissions occurring prior to the
Closing Date (including, without limitation, any claims which have not yet been asserted by the Closing Date). Purchaser will indemnify and hold Seller harmless from and against any loss, damage, liability, claim, cost or expense (including, without
limitation, reasonable attorneys’ fees) that may be incurred by, or asserted against, Seller after the Closing which involves any matter relating to a past or present Hotel Employee to the extent concerning acts or omissions occurring on or
subsequent to the Closing Date. These indemnities apply, without limitation, to all forms of labor and/or employment claims under state, federal or local law, whether brought in judicial, administrative or other proceedings, private or public.

  
 Purchaser acknowledges that Seller is not giving any notice
under the federal Worker Adjustment and Retraining Notification Act or any state law analogue, and Purchaser agrees to indemnify Seller and hold it harmless against any and all costs and expenses (including, without limitation, reasonable
attorneys’ fees) incurred by Seller as a result of the failure to give such notice. Nothing in this Agreement shall require Purchaser to assume any obligations under any employee benefit plans currently maintained for Hotel Employees unless
otherwise required by law. Purchaser further acknowledges that, to the extent required by this Agreement or applicable law, Purchaser shall assume any collective bargaining relationship between Seller or Manager and any union representing Hotel
Employees. This Section 7.7 shall survive the Closing. 
  
 7.8
Disbursements and Other Actions by Escrow Agent. At the Closing, Escrow Agent shall promptly undertake all of the following in a manner hereinbelow indicated: 
  
 (a) Disburse all funds deposited with Escrow Agent by Purchaser as follows: 
  
 (i) If, as a result of the pro-rations and credits pursuant to Section 7.2
above, amounts are to be charged to the account of Seller, deduct the total amount of such charges; 
  

 19 

 (ii) Deduct and pay to the appropriate third party all items chargeable to the account of Seller pursuant
to Section 7.5 above; 
  
 (iii) Pay to the appropriate third
party from funds deposited by Purchaser all items chargeable to the account of Purchaser pursuant to Section 7.5 above; 
  
 (iv) Disburse the balance of the funds due to Seller to or as directed by Seller; and 
  
 (v) Disburse any remaining funds to or as directed by Purchaser. 
  
 All amounts and payees with respect to the items listed above shall be shown on settlement
statements executed at the Closing. 
  
 (b) Cause the Special
Warranty Deed to be recorded in the Office of the County Recorder where the Property is located (with instructions to return the Special Warranty Deed to Purchaser after recordation and to affix evidence of the amount of real estate transfer taxes
after recordation), and obtain conformed copies thereof for distribution to Seller and Purchaser; 
  
 (c) Issue to Purchaser the Title Policy (including any endorsements issued in connection therewith); 
  
 (d) Deliver to Purchaser the Bill of Sale, the FIRPTA Affidavit, and one (1)
fully executed counterpart of the Assignment. 
  
 (e) Deliver to
Seller one (1) fully executed counterpart of the Assignment, a photocopy of the Bill of Sale, a photocopy of the FIRPTA Affidavit, and a photocopy of the Title Policy. 
  
 (f) Take such other actions as Seller and Purchaser may deem necessary or convenient for the consummation of the Closing.

  
 7.9 Survival. The provisions of Article VII
shall survive the Closing. 
  
 VIII. 
 Condemnation and Risk of Loss 
  
 8.1 Condemnation and Casualty. Seller shall promptly notify Purchaser of any condemnation proceeding filed or any casualty to the Property
occurring prior to the Closing. 
  
 (a) Condemnation. If
any condemnation proceeding filed prior to the Closing may result in the loss of all or any material portion of the Property, then this Agreement shall, at Purchaser’s sole election, either (i) continue in effect without modification of the
terms thereof, in which event, upon the Closing, Purchaser shall be entitled to any compensation, awards, or other payments or relief resulting from such condemnation proceeding, or (ii) terminate by Purchaser’s written notice to Seller and
Escrow Agent delivered within five (5) days after receipt by Purchaser of notice of such condemnation, in which event Escrow Agent shall return the Earnest Money to Purchaser, and all obligations, duties, rights and entitlements of Seller and
Purchaser shall terminate, except that Seller and Purchaser shall share equally the expenses of Escrow, and Purchaser shall continue to be obligated under the indemnity provisions set forth in Section 1.3 above and the confidentiality provisions set
forth in Section 9.13 below. 
  

 20 

 (b) Casualty. In the event of fire, casualty or any other damage of any kind whatsoever (insured
or uninsured) to the Property which costs One Million Dollars ($1,000,000) or more to repair, replace or remediate, either party may terminate this Agreement and Escrow, whereupon Escrow Agent shall return the Earnest Money to Purchaser, and all
obligations, duties, rights and entitlements of Seller and Purchaser shall terminate, except that Seller and Purchaser shall share equally the expenses of Escrow, and Purchaser shall continue to be obligated under the indemnity provisions set forth
in Section 1.3 above and the confidentiality provisions set forth in Section 9.13 below. If neither party elects so to terminate this Agreement, or if any such occurrence costs less than One Million Dollars ($1,000,000) to repair, replace or
remediate, then Seller shall assign all available insurance proceeds to Purchaser (and Purchaser shall receive a credit against the Purchase Price for any such proceeds that are received and retained by any creditor of Seller), and the parties shall
proceed to the Closing pursuant to the terms and conditions hereof, without modification of the terms of this Agreement and without any reduction in the Purchase Price. 
  
 IX. 
 Miscellaneous 
  
 9.1 Entire
Agreement. This Agreement (including the Exhibits attached hereto) constitutes the complete and final expression of the agreement of the parties relating to the Property and supersedes all previous contracts, agreements, and understandings
of the parties, either oral or written, relating to the Property, except the Option Agreement. This Agreement cannot be modified, or any of the terms hereof waived, except by an instrument in writing (referring specifically to this Agreement)
executed by the party against whom enforcement of the modification or waiver is sought. 
  
 9.2 Binding Effect. 
  
 (a) This Agreement shall inure to the benefit of and be binding upon the heirs, personal representatives, successors and assigns of each of the parties to this Agreement; provided, however, the same is not intended nor shall it be construed
as creating any rights in or for the benefit of any person or entity other than the parties to this Agreement and their respective personal representatives, successors and permitted assigns. 
  
 (b) Purchaser may assign its rights under this Agreement without
Seller’s consent to any partnership or limited liability company in which Purchaser or any person or entity controlling, controlled by or under common control with Purchaser is a managing partner, general partner, or limited liability company
member or to any corporation in which Purchaser or any entity controlling, controlled by or under common control with Purchaser owns fifty percent (50%) or more of the voting stock; otherwise, Purchaser may not assign this Agreement without
Seller’s prior written consent. 
  
 (c) Any assignee of
Purchaser shall assume in writing all obligations and liabilities of Purchaser under this Agreement, and Purchaser shall continue to be liable for the due performance of all of Purchaser’s obligations under this Agreement. 
  

 21 

 9.3 Notices. Any notice, communication, request, reply or advice (collectively,
“Notice”) provided for or permitted by this Agreement to be made or accepted by either party must be in writing. Notice may, unless otherwise provided herein, be given or served by depositing the same in the United States mail, postage
paid, registered or certified, and addressed to the party to be notified, with return receipt requested; or by delivery by overnight courier; or by facsimile transmission; or by E-Mail with proof of delivery. Notice deposited in the mail in the
manner herein above described shall be effective two (2) business days after such deposit. Notice by overnight courier shall be effective one business day after deposit with the courier service. Notice given by facsimile transmission shall be
effective on the business date delivered as evidenced by the printed delivery confirmation receipt retained by the sender. For the purposes of Notice, the addresses of the parties shall be: 
  

			
	Seller:	  	FelCor Lodging Limited Partnership
	 	  	545 E. John Carpenter Freeway
	 	  	Suite 1300
	 	  	Irving, TX 75062
	 	  	Phone No.: (972) 444-4980
	 	  	Fax No.: (972) 444-4949
	 	  	E-Mail: jeastman@felcor.com
	 	  	Attn: Joel M. Eastman, Esq.
		
	with copy to:	  	FelCor Lodging Limited Partnership
	 	  	545 E. John Carpenter Freeway
	 	  	Suite 1300
	 	  	Irving, TX 75062
	 	  	Phone No.: (972) 444-4980
	 	  	Fax No.: (972) 444-4949
	 	  	E-Mail: kmashburn@felcor.com
	 	  	Attn: Kate Mashburn
		
	Purchaser:	  	IOC - City of St. Louis, LLC
	 	  	c/o Gallop, Johnson and Neuman, L.C.
	 	  	Attn: David J. Harris
	 	  	101 S. Hanley, Suite 1600
	 	  	St. Louis, Missouri, 63105
	 	  	Phone No.: (314) 615-6000
	 	  	Fax No.: (314) 615-6001
	 	  	E-Mail: djharris@gjn.com

  
 The parties shall have
the right from time to time to change their respective addresses for notice by at least five (5) days’ written notice to the other party. The E-Mail addresses set forth above are for the convenience of the parties; and may not be relied on for
purposes of Notice, absent proof of actual delivery to the intended recipient. 
  
 9.4 Governing Law. This Agreement shall be construed in accordance with the laws of the State of Missouri. 
  

 22 

 9.5 Section Headings. The section headings contained in this Agreement are for convenience
only and shall in no way enlarge or limit the scope or meaning of the various and several sections of this Agreement. 
  
 9.6 Obligations. Subject to any limitations set forth in this Agreement, the terms, conditions, warranties, representations, obligations,
agreements, indemnities and rights set forth in this Agreement shall survive the Closing, but upon expiration of the respective period of survivability for each, they shall merge into the various documents executed and delivered at the time of the
Closing. 
  
 9.7 Counterparts. This Agreement may be
executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
  
 9.8 Non-recordation. Neither this Agreement nor any memorandum thereof shall be recorded, except as otherwise provided in the Option
Agreement. 
  
 9.9 Time of the Essence. Time is of
the essence of this Agreement and of the obligations of the parties to purchase and sell the Property, it being acknowledged and agreed by and between the parties that any delay in effecting a closing pursuant to this Agreement may result in loss or
damage to the party in full compliance with its obligations hereunder. 
  
 9.10 Invalid Provisions. If any one or more of the provisions of this Agreement, or the applicability of any such provision to a specific situation, shall be held invalid or unenforceable, such provision shall be modified to
the minimum extent necessary to make it or its application valid and enforceable, and the validity and enforceability of all other provisions of this Agreement and all other applications of any such provision shall not be affected thereby.

  
 9.11 Computation of Time. The time in which any
act under this Agreement is to be done shall be computed by excluding the first day and including the last day. If the last day of any time period stated herein shall fall on a Saturday, Sunday or legal holiday, then the duration of such time period
shall be extended so that it shall end on the next succeeding day which is not a Saturday, Sunday or legal holiday. Unless preceded by the word “business,” the word “day” shall mean a calendar day. The phrase “business
day” or “business days” shall mean those days on which the Superior Court of the County in which the Property is located is open for business. 
  
 9.12 Seller’s Knowledge. Wherever the phrase “to the best of Seller’s knowledge” or any similar phrase stating or
implying a limitation on the basis of knowledge appears in this Agreement, such phrase shall mean the present actual knowledge of the Asset Manager or General Manager of the Hotel, without any duty of inquiry or independent investigation of the
relevant matter by any of such individual. Seller represents and warrants to Purchaser that Asset Manager is the employee of Seller who is most directly involved in the oversight of the day-to-day operations of the Property. 
  

 23 

 9.13 Confidentiality. Except as otherwise provided in the Option Agreement with regards to
confidentiality and disclosure, neither Seller nor Purchaser shall release or cause or permit to be released any press notices or releases or publicity (oral or written) or advertising promotion relating to, or otherwise announce or disclose or
cause or permit to be announced or disclosed, in any manner whatsoever, the terms, conditions or substance of the purchase and sale of the Property or the transactions contemplated hereunder prior to Closing, nor shall Purchaser or its agents or
representatives disclose, in any manner whatsoever, (i) the information provided to Purchaser by Seller or its representatives, or (ii) any analyses, compilations, studies or other documents or records prepared by or on behalf of Purchaser, in
connection with Purchaser’s due diligence investigation of the Property (collectively, “Proprietary Information”), without first obtaining the written consent of the other party. The foregoing shall not preclude either party from (x)
discussing the Proprietary Information with any person who is employed by such party or who, on behalf of such party, is actively and directly participating in the purchase and sale of the Property, including, without limitation, to such
party’s shareholders, partners, existing or prospective lenders, attorneys, accountants and other consultants and advisors, or (y) complying with all laws, rules, regulations and court orders, including without limitation, governmental
regulatory, disclosure, tax and reporting requirements; provided, however, that if any party is required by applicable law or legal process to disclose any Proprietary Information, such party agrees to furnish only that portion of the Proprietary
Information which such party is legally compelled to disclose and to use its best efforts to obtain assurance that, if possible, confidential treatment will be accorded to the Proprietary Information. Seller and Purchaser shall inform their
respective representatives of the confidential nature of the Proprietary Information and shall direct them to be bound by the terms of this Section 9.13. In addition to any other remedies available to a party, each party shall have the right to seek
equitable relief, including without limitation, injunctive relief or specific performance, against the other party in order to enforce the provisions of this Section 9.13. The provisions of this Section 9.13 shall survive the Closing and any
termination of this Agreement. 
  
 9.14 Intentionally
Omitted. 
  
 9.15 Tax-Free Exchange. In the
event either party desires to effectuate a tax-free exchange under Section 1031 of the Internal Revenue Code, as amended, the other party agrees to fully cooperate in the structure and documentation of the transaction in order to facilitate such
Section 1031 exchange; provided, however, (i) there shall be no delay in the Closing and (ii) the party requesting the Section 1031 exchange shall reimburse the other party at Closing for all reasonable additional costs and expenses incurred by such
other party in cooperating with such exchange. 
  
 9.16
Assignment by Seller. Seller may assign its rights under this Agreement without Purchaser’s consent to any company, partnership or limited liability company in which Seller or any entity controlling, controlled by or under common
control with Seller directly or indirectly is an equity holder. Any assignee of Seller shall assume in writing all obligations and liabilities of Seller under this Agreement, and Seller shall continue to be liable for the payment and performance of
all of Seller’s obligations, representations, warranties, covenants and indemnities under this Agreement. 
  

 24 

 9.17 Amendment to the Agreement/Waiver of Matters or Conditions. No term or condition of
this Agreement will be deemed to have been amended or waived unless expressed in writing, and the waiver of any condition of the breach of any term will not be a waiver of any subsequent breach of the same or any other term or condition. 

 
 9.18 Relationship of Parties. Purchaser is aware that Seller
has leased the Property to Tenant pursuant to the Tenant Lease. Tenant in turn has a Management Agreement with Manager for the operation of the Property. Seller agrees that as of the Closing, both the Tenant Lease and the Management Agreement will
be terminated by Seller at Seller’s sole cost and expense. Any reference herein to Seller, right or obligation of Seller as to the operation of the Hotel shall mean Seller, Tenant and/or Manager, as the case may be. 
  
 IN WITNESS WHEREOF, this Agreement has been duly executed in multiple
counterparts by the parties hereto on the Effective Date. 
  

					
	 	 	SELLER:
			
	Date:
                                	 	 	 	 
	 	 	FELCOR LODGING LIMITED PARTNERSHIP
	 	 	a Delaware limited partnership
			
	 	 	By:	 	  

	 	 	Name:	 	Joel M. Eastman
	 	 	Title:	 	Vice President
		
	 	 	PURCHASER:
			
	Date:
                                	 	 	 	 
	 	 	IOC - CITY OF ST. LOUIS, LLC
	 	 	a Missouri limited liability company
			
	 	 	By:	 	  

	 	 	Name:	 	  

	 	 	Title:	 	  

  

 25 

 EXHIBIT “A” 
  
 (Legal Description) 
  

 26 

 EXHIBIT “B” 
  
 (Space Leases) 
  
 To be delivered to Purchaser and attached as Exhibit 
 within ten (10) days from the Effective Date. 
  

 27 

 EXHIBIT “C” 
  
 (Hotel Contracts) 
  
 To be delivered to Purchaser and attached as Exhibit 
 within ten (10) days from the Effective Date. 
  

 28 

 EXHIBIT “D” 
  
 (Operations Permits) 
  
 To be delivered to Purchaser and attached as Exhibit 
 within ten (10) days from the Effective Date. 
  

 29 

 EXHIBIT “E” 
  
 (Violation of Laws, Ordinances, Orders or Regulations) 
  
 To be delivered to Purchaser and attached as Exhibit 
 within ten (10) days from the Effective Date. 
  

 30 

 EXHIBIT “F” 
  
 (Pending Litigation) 
  
 To be delivered to Purchaser and attached as Exhibit 
 within ten (10) days from the Effective Date. 
  

 31Stock Purchase Agreement, dated April 5, 2004

  
 Exhibit 10.1

  
 GLOBAL IMAGING SYSTEMS, INC. REDACTED VERSION. [****] Indicates
information omitted pursuant to a request for confidential treatment and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. 
  
 STOCK PURCHASE AGREEMENT 
  
 Dated April 5, 2004 
  
 By and Among 
  
 GLOBAL IMAGING SYSTEMS, INC. 
 (“Global”) 
  
 ITG ACQUISITION I CORPORATION 
 (“Buyer”) 
  
 IMAGINE TECHNOLOGY
GROUP, INC. 
 (the “Company”) 
  
 and 
  
 THE SELLERS (INCLUDING IMAGINE TECHNOLOGY 
 GROUP, LLC) 
 (collectively, the “Sellers”) 

  
 TABLE OF CONTENTS 

 

										
	 	  	 	 	 	 	  	 	  	Page

	 ARTICLE I
	  	DEFINITIONS	  	1
	 1.1
	  	Definitions	  	1
			
	 ARTICLE II
	  	AGREEMENT OF PURCHASE AND SALE; CLOSING	  	11
	 2.1
	  	Agreement to Sell and Purchase	  	11
	 2.2
	  	Purchase Price	  	11
	 2.3
	  	Payment of Purchase Price	  	11
	 	  	(a	)	 	 	  	Cash Portion	  	11
	 	  	(b	)	 	 	  	Stock Portion	  	12
	 	  	(c	)	 	 	  	Escrow Portion	  	12
	 2.4
	  	Closing	  	12
	 	  	(a	)	 	 	  	Date and Place	  	12
	 	  	(b	)	 	 	  	Deliveries at the Closing	  	12
	 2.5
	  	Escrow Arrangements	  	12
	 2.6
	  	Purchase Price Adjustments	  	13
	 	  	(a	)	 	 	  	Funded Indebtedness	  	13
	 	  	(b	)	 	 	  	Working Capital	  	13
	 	  	(c	)	 	 	  	Cash on Hand	  	13
	 	  	(d	)	 	 	  	Funding of Shut Down Costs and Other Sellers’ Closing Costs	  	13
	 	  	(e	)	 	 	  	[****]	  	13
	 	  	(f	)	 	 	  	Allocation of Adjustments	  	14
	 2.7
	  	Closing Review	  	14
	 2.8
	  	Post-Closing Purchase Price Adjustment	  	15
	 2.9
	  	EBITDA Adjustment to the Purchase Price	  	15
			
	 ARTICLE III
	  	REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE SELLERS	  	16
	 3.1
	  	Due Authorization	  	17
	 3.2
	  	Title to Shares	  	17
	 3.3
	  	Organization and Qualification	  	18
	 3.4
	  	Subsidiaries	  	18
	 3.5
	  	Organizational Documents, Governing Documents, Officers and Directors	  	19
	 3.6
	  	Capital Stock; Title to Shares	  	19
	 3.7
	  	Convertible Securities, Options, Etc.	  	19
	 3.8
	  	Books and Records	  	20
	 3.9
	  	Transaction Not a Breach	  	20
	 3.10
	  	Compliance with Applicable Laws	  	21
	 3.11
	  	Financial Statements	  	21
	 3.12
	  	Inventories, Accounts, Receivable and Accounts Payable	  	22

  

										
	 	  	 	 	 	 	  	 	  	Page

	 3.13
	  	Taxes	  	23
	 3.14
	  	Listed Contracts	  	24
	 3.15
	  	Owned Real Property	  	25
	 3.16
	  	Leased Real Property	  	25
	 3.17
	  	Personal Property	  	26
	 3.18
	  	Litigation	  	26
	 3.19
	  	Intellectual Property	  	27
	 3.20
	  	Names	  	27
	 3.21
	  	Conduct of Business	  	28
	 	  	(a	)	 	 	  	Conduct of Ordinary Course	  	28
	 	  	(b	)	 	 	  	No Illegal Payments	  	30
	 3.22
	  	Insurance Policies	  	30
	 3.23
	  	Bank Accounts	  	30
	 3.24
	  	Licenses and Permits	  	30
	 3.25
	  	Employee Benefit Plans	  	30
	 	  	(a	)	 	 	  	Employee Benefit Plan Liabilities	  	30
	 	  	(b	)	 	 	  	Delivery of Employee Benefit Plans	  	31
	 	  	(c	)	 	 	  	Compliance	  	31
	 	  	(d	)	 	 	  	No Claims	  	31
	 	  	(e	)	 	 	  	No Unfunded Liability	  	31
	 	  	(f	)	 	 	  	No Multi-employer Plan, Pension Plan or Retiree Welfare Plan	  	32
	 3.26
	  	Interest of the Company in Customers, Etc.	  	32
	 3.27
	  	Health, Safety and Environmental	  	32
	 	  	(a	)	 	 	  	Compliance with Environmental and Safety Requirements	  	32
	 	  	(b	)	 	 	  	No Hazardous Wastes	  	32
	 	  	(c	)	 	 	  	No Actions or Proceedings	  	32
	 	  	(d	)	 	 	  	Other Condition	  	33
	 3.28
	  	Salaries	  	33
	 3.29
	  	Personnel Agreements, Plans and Arrangements	  	33
	 3.30
	  	Workers’ Compensation Claims	  	34
	 3.31
	  	Suppliers	  	34
	 3.32
	  	Customers	  	34
	 3.33
	  	Affiliate Transactions	  	34
	 3.34
	  	Accountant Letters	  	34
	 3.35
	  	No Misrepresentation	  	35
	 3.36
	  	Certain Business Practices	  	35
	 3.37
	  	Brokers	  	35
	 3.38
	  	Warranties	  	35
	 3.39
	  	Information Furnished	  	35
			
	 ARTICLE IV
	  	GLOBAL AND BUYER’S REPRESENTATIONS AND WARRANTIES	  	36
	 4.1
	  	Due Organization	  	36
	 4.2
	  	Due Authorization	  	36

  

 - ii - 

										
	 	  	 	 	 	 	 	 	  	Page

	 4.3
	  	No Brokers	  	36
	 4.4
	  	Investment	  	36
	 4.5
	  	Financing	  	37
	 4.6
	  	Litigation	  	37
	 4.7
	  	Transaction Not a Breach	  	37
	 4.8
	  	Operations of the Buyer	  	38
	 4.9
	  	Issuance of Global Shares	  	38
	 4.10
	  	S-3 Eligibility	  	38
	 4.11
	  	Resale Registration Statement	  	38
			
	 ARTICLE V
	  	PRE-CLOSING COVENANTS	  	38
	 5.1
	  	General	  	38
	 5.2
	  	Notices and Consents	  	39
	 5.3
	  	Operation of Business	  	39
	 5.4
	  	Preservation of Business	  	39
	 5.5
	  	Access	  	39
	 5.6
	  	Notice of Developments	  	40
	 5.7
	  	Exclusivity	  	40
			
	 ARTICLE VI
	  	POST-CLOSING COVENANTS	  	41
	 6.1
	  	General	  	41
	 6.2
	  	Transition	  	41
	 6.3
	  	Confidentiality	  	41
	 6.4
	  	Covenant Not to Compete	  	42
	 6.5
	  	Additional Tax Matters	  	42
	 6.6
	  	Agreement to Register Stock	  	45
	 6.7
	  	Shut Down Costs	  	48
	 6.8
	  	Director and Officer Liability and Indemnification	  	48
			
	 ARTICLE VII
	  	CONDITIONS TO OBLIGATION OF PARTIES TO CONSUMMATE CLOSING	  	49
	 7.1
	  	Conditions to Buyer’s Obligations	  	49
	 	  	(a	)	 	Covenants, Representations and Warranties	  	49
	 	  	(b	)	 	Consents	  	49
	 	  	(c	)	 	[Reserved]	  	49
	 	  	(d	)	 	Payoff Letters; Releases	  	49
	 	  	(e	)	 	Material Adverse Effect	  	50
	 	  	(f	)	 	Leases	  	50
	 	  	(g	)	 	No Actions	  	50
	 	  	(h	)	 	Documents to be Delivered by the Parent and the Company	  	50
	 	  	 	 	 	(i)	 	Opinion of the Parent’s Counsel	  	50
	 	  	 	 	 	(ii)	 	Secretary’s Certificate	  	50
	 	  	 	 	 	(iii)	 	Release	  	50
	 	  	 	 	 	(iv)	 	Sellers’ Receivables	  	50
	 	  	 	 	 	(v)	 	Stock Certificates	  	50

  

 - iii - 

										
	 	  	 	 	 	 	 	 	  	Page

	 	  	 	 	 	(vi)	 	Equity Subscription Agreement	  	51
	 	  	 	 	 	(vii)	 	Escrow Agreement	  	51
	 	  	 	 	 	(viii)	 	Officer’s Certificate	  	51
	 	  	 	 	 	(ix)	 	Resignations	  	51
	 	  	(i	)	 	Bank Consent	  	51
	 7.2
	  	Conditions to the Sellers’ and the Company’s Obligations	  	51
	 	  	(a	)	 	Covenants, Representations and Warranties	  	51
	 	  	(b	)	 	Consents	  	51
	 	  	(c	)	 	Documents to be Delivered by Global and Buyer	  	52
	 	  	 	 	 	(i)	 	Secretary’s Certificate	  	52
	 	  	 	 	 	(ii)	 	Escrow Agreement	  	52
	 	  	 	 	 	(iii)	 	Equity Subscription Agreement	  	52
	 	  	 	 	 	(iv)	 	Global Stock Certificates	  	52
	 	  	 	 	 	(v)	 	Opinion of Global and Buyer’s Counsel	  	52
	 	  	 	 	 	(vi)	 	Officer’s Certificate	  	52
	 	  	 	 	 	(vii)	 	Release	  	52
	 	  	(d	)	 	No Actions	  	52
	 	  	(e	)	 	Resale Registration Statement	  	52
	 	  	(f	)	 	Payments to the Parent	  	53
			
	 ARTICLE VIII
	  	INDEMNIFICATION	  	53
	 8.1
	  	Indemnification	  	53
	 	  	(a	)	 	Indemnification of Buyer	  	53
	 	  	(b	)	 	Indemnification of the Parent and the Sellers	  	54
	 	  	(c	)	 	Exceptions	  	54
	 8.2
	  	Defense of Claims	  	54
	 8.3
	  	Escrow Claim	  	55
	 8.4
	  	Offsets Against Indemnification	  	55
	 8.5
	  	Limits on Indemnification	  	56
	 8.6
	  	Other Limitations Regarding Indemnification	  	57
	 8.7
	  	Exclusive Remedy	  	59
	 8.8
	  	Adjustment to Purchase Price	  	59
	 8.9
	  	No Other Representations or Projections	  	59
			
	 ARTICLE IX
	  	TERMINATION	  	60
	 9.1
	  	Termination of Agreement	  	60
	 9.2
	  	Effect of Termination	  	60
			
	 ARTICLE X
	  	MISCELLANEOUS	  	61
	 10.1
	  	Modifications	  	61
	 10.2
	  	Notices	  	61
	 10.3
	  	Counterparts, Facsimile Transmission	  	63
	 10.4
	  	Expenses	  	63
	 10.5
	  	Binding Effect; Assignment	  	63
	 10.6
	  	Entire and Sole Agreement	  	63

  

 - iv - 

									
	 	  	 	  	Page

	 10.7
	  	Governing Law	  	63
	 10.8
	  	Invalid Provisions	  	64
	 10.9
	  	Public Announcements	  	64
	 10.10
	  	Remedies Cumulative	  	64
	 10.11
	  	Waiver	  	64
	 10.12
	  	Waiver of Jury Trial	  	64
	 10.13
	  	Breach or Violation	  	64
	 10.14
	  	Breach or Violation	  	64

  

 - v - 

  
 LIST OF EXHIBITS 
  

			
	Exhibit A	  	Escrow Agreement
	Exhibit B	  	Opinion of the Company and the Sellers’ Counsel
	Exhibit C	  	Company’s Secretary’s Certificate
	Exhibit D	  	Mutual Release
	Exhibit E	  	Buyer’s Secretary’s Certificate
	Exhibit F	  	Purchase Price Calculation Example
	Exhibit G	  	Equity Subscription Agreement
	Exhibit H	  	Opinion of Global and Buyer’s Counsel
	Exhibit I	  	Global Bank Underwriting Agreement
	Exhibit J	  	Selling Stockholder Notice

  
 LIST OF SCHEDULES AND DISCLOSURE
SCHEDULES 
  

			
	Schedule 1.1(a)	  	Building Addresses
	Schedule 1.1(c)	  	Shut Down Costs
	Schedule 2.6(a)	  	Holders of Funded Indebtedness
	Schedule 2.6(b)	  	Working Capital Adjustments
	Schedule 3.2	  	Title to Shares
	Schedule 3.3	  	States of Qualification
	Schedule 3.4	  	Subsidiaries
	Schedule 3.5	  	Officers and Directors
	Schedule 3.6	  	Capital Stock; Title to Shares
	Schedule 3.7	  	Options, etc.
	Schedule 3.9	  	Conflicts
	Schedule 3.10	  	Compliance with Applicable Laws
	Schedule 3.11(a)	  	Financial Statements
	Schedule 3.11(b)	  	Liabilities
	Schedule 3.11(d)	  	Guaranteed Obligations
	Schedule 3.12(a)	  	Inventory
	Schedule 3.12(b)	  	Accounts Receivable
	Schedule 3.13	  	Taxes
	Schedule 3.14	  	Listed Contracts; Service Contracts
	Schedule 3.15	  	Owned Real Property
	Schedule 3.16	  	Leased Real Property
	Schedule 3.17(a)	  	Personal Property
	Schedule 3.17(b)	  	Sellers’ Personal Property
	Schedule 3.18	  	Litigation
	Schedule 3.19	  	Intellectual Property
	Schedule 3.20	  	Names
	Schedule 3.21	  	Conduct of Business
	Schedule 3.22	  	Insurance Policies
	Schedule 3.23	  	Bank Accounts
	Schedule 3.24	  	Licenses and Permits
	Schedule 3.25	  	Employee Benefit Plans

  

 - vi - 

			
	Schedule 3.26	  	Interests of the Company in Customers, etc.
	Schedule 3.27	  	Health, Safety and Environment
	Schedule 3.28	  	Salaries
	Schedule 3.29	  	Personnel Agreements, Plans and Arrangements
	Schedule 3.30	  	Workers’ Compensation
	Schedule 3.31	  	Suppliers
	Schedule 3.32	  	Customers
	Schedule 3.33	  	Affiliate Transactions
	Schedule 3.34	  	Accountant Letters
	Schedule 3.36	  	Certain Business Practices
	Schedule 3.38	  	Warranties
	Schedule 4.2	  	Due Authorization
	Schedule 4.7	  	Conflicts

  

 - vii - 

  
 STOCK PURCHASE AGREEMENT

  
 THIS STOCK PURCHASE AGREEMENT (the
“Agreement”) is entered into as of April 5, 2004 by and among Global Imaging Systems, Inc., a Delaware corporation (“Global”), ITG Acquisition I Corporation, a Delaware corporation (“Buyer”),
Imagine Technology Group, Inc., a Delaware corporation (the “Company”), Imagine Technology Group, LLC, a Delaware limited liability company (the “Parent”) and each of the persons whose names appear as
“Members” on the Signature page hereto (each a “Member” and collectively, the “Members” and together, with Parent, each a “Seller” and collectively, the “Sellers”).

  
 W I T N E S S E T H: 
  
 WHEREAS, the Company is engaged in the sale and service of copier and
facsimile equipment and imaging products and related equipment, supplies and service through its Subsidiaries in the States of California, Arizona, Washington, Texas and Oregon (the “Business”); and 
  
 WHEREAS, the Parent owns all of the issued and outstanding shares of the
capital stock of the Company (the “Shares”); and 
  
 WHEREAS, the Members own or have voting control over a majority of the issued and outstanding membership interests of each class of the Parent; and 
  
 WHEREAS, Buyer desires to purchase from the Parent and the Parent desire to sell to Buyer all of the Shares on the terms and subject to the conditions
hereinafter set forth. 
  
 NOW, THEREFORE, in consideration of the
mutual premises and covenants contained herein and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto covenant and agree as follows: 
  
  
 ARTICLE I 
 DEFINITIONS 
  
 1.1 Definitions. In this Agreement, the following terms have the meanings specified or referred to in this Section 1.1 and shall be
equally applicable to both the singular and plural forms. Any agreement referred to below shall mean such agreement as amended, supplemented and modified from time to time to the extent permitted by the applicable provisions thereof and by this
Agreement. 
  
 “Accounts Receivable” shall have
the meaning set forth in Section 3.12(b). 
  
 “Accredited Investors” shall have the meaning as such term is defined in Rule 501 of Regulation D promulgated under the Securities Act. 
  

 “Actual 1/31/04 EBITDA” shall mean the actual EBITDA for the 12 month period ending as
of January 31, 2004. 
  
 “Affiliate” means with
respect to any Person, any other Person that directly or indirectly controls, is controlled by or is under common control with such Person. For the purposes of this definition, the term “control” (including the terms “controlled
by” and “under common control”) means the possession of the power to direct the management and policies of a Person whether through ownership of voting securities, contract or otherwise. 
  
 “Affiliate Transaction” shall mean any transaction
(including without limitation, loans) between the Companies, on the one hand, and any Affiliate of the Companies, any of the Sellers, any officer or director or their respective Affiliates and relatives, on the other hand. 
  
 “Agreed EBITDA” shall mean the Total Adjusted EBITDA for
2/1/03 - 1/31/04 as set forth on Schedule 2.2 attached hereto. 
  
 “Buildings” means the buildings located at the addresses set forth on Schedule 1.1(a). 
  
 “Business” has the meaning specified in the first recital of this Agreement. 
  
 “Business Day” means any day in which the NASDAQ National
Market System is open for trading in the United States of America. 
  
 “Buyer” has the meaning specified in the first paragraph of this Agreement. 
  
 “Cap” has the meaning specified in Section 8.5. 
  
 “Cash” means, as of the date of determination, the Companies’ cash, cash equivalents, certificates of
deposit, banker’s acceptances and government securities, as well as checks deposited by the Companies but not yet cleared and checks received for deposit by the Companies but not yet deposited, less all outstanding checks issued by any of the
Companies. 
  
 “Cash Portion of the Purchase
Price” shall have the meaning set forth in Section 2.3(a). 
  
 “Cash Target” shall mean $1,111,952. 
  
 “CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. §§ 9601 et seq., any amendments thereto, and any regulations promulgated
thereunder, as in effect on the date hereof. 
  
 “Closing” means the closing of the transfer of the Shares from the Parent to Buyer. 
  

 - 2 - 

 “Closing Balance Sheet” shall mean the Companies’ consolidated balance sheet as of
the Effective Date, an itemized amount of all Shut Down Costs and an itemized amount of all Sellers’ Closing Costs in its final and binding form pursuant to Section 2.7. 
  
 “Closing Cash” has the meaning specified in Section 2.6(c). 
  
 “Closing Date” has the meaning specified in Section
2.4(a). 
  
 “Closing Statement Review” has
the meaning specified in Section 2.7. 
  
 “Code” means the Internal Revenue Code of 1986, as amended and as in effect on the date hereof. 
  
 “Company” has the meaning specified in the first paragraph of this Agreement. 
  
 “Company Bank Agent” means G.E. Capital Corporation f/k/a
Heller Financial, Inc., in its capacity as agent for the Company Lenders under and pursuant to the terms of the Company Credit Agreement. 
  
 “Company Credit Agreement” means that certain Amended and Restated Credit Agreement dated March 14, 2000 by and among the Companies,
Parent, the Company Lenders and the Company Bank Agent. 
  
 “Company Lenders” means, collectively, all Persons who have extended credit to any of the Companies under and pursuant to the terms of the Company Credit Agreement. 
  
 “Companies” shall mean collectively the Company and each of
its Subsidiaries. 
  
 “Confidentiality Agreement”
has the meaning specified in Section 6.3. 
  
 “Confidential Information” means all (a) confidential information and trade secrets of the Company including, without limitation, any of the same comprising the identity, lists or descriptions of any customers, referral
sources or organizations; (b) financial statements, cost reports or other financial information; (c) contract proposals, or bidding information; (d) business plans and training and operations methods and manuals; (e) personnel records; (f)
information concerning fee structures; and (g) management systems, policies or procedures, including related forms and manuals. Confidential Information shall not include any information (i) which is disclosed pursuant to subpoena or other legal
process, (ii) which has been publicly disclosed, (iii) which subsequently becomes legally known and is not in violation of any obligation of confidentiality of such person, or (iv) which is subsequently disclosed by any third party not in breach of
a confidentiality agreement. 
  
 “Court Order”
means any judgment, order, award or decree of any foreign, federal, state, local or other court or tribunal and any award in any arbitration proceeding (or agreement entered into in any administrative, judicial or arbitration proceeding with any
Governmental Body). 
  

 - 3 - 

 “Dealer Agreement” means any contract, commitment or agreement by and between any of the
Companies and any OEM related to the purchase, sale and/or distribution of goods in the ordinary course of the Business. 
  
 “Decrease in Pre-Closing Value” has the meaning specified in Section 2.9. 
  
 “Deductible” has the meaning specified in Section
8.5. 
  
 “Disclosure Schedule(s)” has the
meaning specified in the first paragraph of Article III. 
  
 “EBITDA” shall mean Companies’ consolidated net income from operations (excluding expenses related to the Company’s corporate headquarters) before interest, income taxes and depreciation and amortization charges
for the twelve-month period ending on the last day of any calendar month, determined in accordance with GAAP consistent with past practices and as further adjusted in a manner consistent with Schedule 2.2).  
  
 “Effective Date” has the meaning specified in Section
2.4(a). 
  
 “Employee Benefit Plan” shall
have the meaning set forth in Section 3.25(a). 
  
 “Employment Agreement(s)” has the meaning specified in Section 7.1(h)(viii). 
  
 “Encumbrance” means any lien, charge, security interest, mortgage, pledge, easement, conditional sale or other title retention agreement,
defect in title, restrictive covenant or other material restrictions of any kind. 
  
 “Environmental Laws” shall mean any applicable federal, state, territorial, provincial, foreign or local law, common law doctrine, rule, order, decree, judgment, injunction, license, permit or
regulation relating to environmental matters, including those pertaining to land use, air, soil, surface water, ground water (including the protection, cleanup, removal, remediation or damage thereof), public or employee health or safety or any
other environmental matter, together with any other laws (federal, state, territorial, provincial, foreign or local) relating to emissions, discharges, releases or threatened releases of any pollutant or contaminant including, without limitation,
medical, chemical, biological, biohazardous or radioactive waste and materials, into ambient air, land, surface water, groundwater, personal property or structures, or otherwise relating to the manufacture, processing, distribution, use, treatment,
storage, disposal, transportation, discharge or handling of any contaminant, including, without limitation, the Federal Water Pollution Control Act (33 U.S.C. 1251 et seq.), the Clean Air Act (42 U.S.C. 1251 et seq.), the
Toxic Substances Control Act (15 U.S.C. 2601 et seq.), and the OSHA (29 U.S.C. 651 et seq.), as such laws have been amended and are in effect as of the date hereof and any analogous present state or local laws, statutes
and regulations promulgated thereunder as are in effect as of the date hereof. 
  

 - 4 - 

 “Environmental and Safety Requirements” shall have the meaning set forth in Section
3.27(a). 
  
 “Equity Subscription Agreement”
has the meaning specified in Section 2.3(b). 
  
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended and as in effect as of the date hereof. 
  
 “Escrow Agent” means Wachovia Bank, National Association. 
  
 “Escrow Agreement” means the Escrow Agreement to be executed by and among the Parent, Buyer, Global and the
Escrow Agent in substantially the same form as Exhibit A. 
  
 “Escrow Period” has the meaning set forth in Section 2.5. 
  
 “Escrow Sum” has the meaning set forth in Section 2.5. 
  
 “Estimated Cash Portion Certificate” has the meaning set forth in Section 2.3(a). 
  
 “Estimated Cash Portion of the Purchase Price” has the
meaning set forth in Section 2.3(a). 
  
 “E&Y” means Ernst & Young, LLP. 
  
 “Financial Statements” has the meaning specified in Section 3.11(a)(ii). 
  
 “Funded Indebtedness” means all (i) indebtedness of the Companies (a) for borrowed money or (b) other interest-bearing indebtedness
(except for current liabilities other than indebtedness for borrowed money), (ii) capital lease obligations of the Companies which are accrued or required to be accrued under GAAP, (iii) obligations of the Companies to pay the deferred purchase or
acquisition price for goods or services or businesses acquired by any of the Companies which are accrued or required to be accrued under GAAP, other than trade accounts payable or accrued expenses in the ordinary course of business on no more than
ninety (90) day payment terms or other indebtedness of the Companies under extended credit terms of more than thirty (30) days from manufacturers provided to the Companies; (iv) indebtedness of others guaranteed by the Companies or secured by an
Encumbrance on any of the Companies’ assets, but specifically excluding any uncalled obligations of the Company arising out of or resulting from any rights of indemnity granted to any third parties in the ordinary course of business in
connection with any agreement by such third parties to (1) purchase any goods from any of the Companies and/or (2) lease any goods to any customers of any of the Companies; (v) the long term portion of any deferred revenue of the Companies not
included in Working Capital; (vi) floor planning payments in excess of 90 days following the Effective Date; or (vii) any notes payable owed by any of the Companies to the Sellers; provided, however, that “Funded 

  

 - 5 - 

 
Indebtedness” shall not be deemed to include any advances in the ordinary course of business from unaffiliated leasing companies processing lease
payments. 
  
 “GAAP” shall mean United States
generally accepted accounting principles, consistently applied. 
  
 “Global” has the meaning specified in the first paragraph of this Agreement. 
  
 “Global Credit Agreement” means that certain Second Amended and Restated Credit Agreement dated as of June 25, 2003 by and among Global,
its Subsidiaries, the Global Lenders and Wachovia Bank, N.A., as administrative agent. 
  
 “Global Lenders” means, collectively, all Persons who have extended credit to Global and its Subsidiaries under and pursuant to the terms of the Global Credit Agreement. 
  
 “Global Shares” means the shares of Global Stock to be paid
by Buyer at the Closing as payment of the Stock Portion of the Purchase Price pursuant to Section 2.3(b) hereof. 
  
 “Global Stock” means the common stock, par value $.01 per share of Global. 
  
 “Governing Documents” shall mean the bylaws, operating agreement, partnership agreement or similar
governing documents of the Company or any Subsidiary, as amended to date. 
  
 “Governmental Body” means any foreign, federal, state, local or other governmental body or regulatory body with applicable jurisdiction. 
  
 “Governmental Permits” shall mean all licenses, certificates, approvals, franchises, permits and other
authorizations held or applied for by any of the Companies from any Governmental Body, the absence of which could individually or in the aggregate have a Material Adverse Effect. 
  
 “Guaranteed Obligation(s)” shall mean all liabilities of Persons other than the Companies with respect to
which any of the Companies is or may be held liable or otherwise financially responsible, including all guaranties, whether of payment or collection, rights of recourse, rights of indemnification to the extent such indemnification arises out of,
results from or relates to a transaction entered into outside the ordinary course of business, but specifically excluding any uncalled obligations of the Company arising out of or resulting from any rights of indemnity granted to any third parties
in the ordinary course of business in connection with any agreement by such third parties to (1) purchase any goods from any of the Companies and/or (2) lease any goods to any customers of any of the Companies, contingent purchase agreements, any
promissory notes with respect to which any of the Companies is a joint or co-maker, as well as any leases of personal property where the personal property which is the subject of such lease presently is in the possession of any Person other than the
Companies, but specifically excluding any uncalled obligations of the Company arising out of or resulting from any rights of indemnity granted to any third parties in the ordinary course of business in connection with any agreement 

  

 - 6 - 

 
by such third parties to (1) purchase any goods from any of the Companies and/or (2) lease any goods to any customers of any of the Companies. 
  
 “Hazardous Wastes” shall mean (i) any substances defined in
or regulated as toxic or hazardous under or as to which liability or standards of conduct are imposed by CERCLA, RCRA or any other Environmental Law; (ii) friable or damaged asbestos, asbestos-containing material, (iii) petroleum and petroleum
products, including crude oil and fractions thereof; and (iv) polychlorinated biphenyls (PCBs). 
  
 “Historical Financial Statements” shall have the meaning set forth in Section 3.11(a)(i). 
  
 “HSR Act” means the Hart-Scott-Rodino Antitrust Improvements
Act of 1976, as amended. 
  
 “Independent
Accountants” has the meaning specified in Section 2.7. 
  
 “Indemnifiable Costs” has the meaning specified in Section 8.1. 
  
 “Indemnified Parties” has the meaning specified in Section 8.1. 
  
 “Individual Obligations” has the meaning specified in Section 8.1. 
  
 “Intellectual Property” has the meaning specified in
Section 3.19. 
  
 “Interim Financial
Statements” shall have the meaning set forth in Section 3.11(a)(ii). 
  
 “IRS” means the Internal Revenue Service. 
  
 “January 31 Shortfall” has the meaning specified in Section 2.9. 
  
 “Knowledge” means, for purposes of Article III, actual knowledge of (i) each of John Goense, Corey Golde, John Leinweber and David
Wilson and (ii) after execution of this Agreement, each of John Goense, Corey Golde, John Leinweber and David Wilson after reasonable inquiry of the president and controller of each of the Companies’ business units. 
  
 “Leased Real Property” shall have the meaning set forth in
Section 3.16. 
  
 “Listed Contracts” has
the meaning specified in Section 3.14. 
  
 “Majority Members” shall mean Members who collectively hold a majority of the common membership interests of the Parent as of the date of this Agreement. 
  
 “Material Adverse Effect” means any change or effect that is or would reasonably be expected to be
materially adverse to the assets, properties, Business, operations, 

  

 - 7 - 

 
liabilities, results of operation or financial condition of the Company and its Subsidiaries, taken as a whole; including, without limitation, the occurrence
prior to Closing of any single event, or any series of related events, or set of related circumstances, which could reasonably be expected to cause an actual, direct net decrease in EBITDA for either the 12 month period ending January 31, 2004 or
EBITDA for any 12 month periods ending after the Closing Date but prior to the first anniversary of the Closing Date, in excess of [****] (after giving effect to any other offsetting increases or decreases affecting EBITDA); provided, however, that
none of the following shall be deemed to constitute, and no change or effect arising from or relating to any of the following shall be taken into account in determining whether there has been, a Material Adverse Effect: [****] 
  
 “Members” has the meaning specified in the first paragraph
of this Agreement. 
  
 “OEM” means any Person
that is an original equipment manufacturer that manufactures, distributes and/or sells (1) copiers, (2) facsimile machines, (3) imaging equipment and products, and/or (4) any related equipment, parts or supplies. 
  
 “Organizational Documents” shall mean the Articles of
Incorporation or other organizational documents of each of the Companies filed with their particular state of organization, as amended to date. 
  
 “OSHA” means the Occupational Safety and Health Act, 29 U.S.C. §§ 651 et seq., any amendment thereto, and any
regulations promulgated thereunder, as in effect on the date hereof. 
  
 “Parent” has the meaning specified in the first paragraph of this Agreement. 
  
 “Parties” shall mean collectively the Buyer, Global, the Company and Sellers. 
  
 “Permitted Exception” means (a) liens for Taxes and other
governmental charges and assessments which are not yet due and payable or being contested in good faith, (b) Encumbrances of landlords and liens of carriers, warehousemen, mechanics and materialmen and other like Encumbrances arising in the ordinary
course of business for sums not yet due and payable, (c) except as would not have a Material Adverse Effect, other Encumbrances or imperfections on property which are not significant in amount or do not or could not reasonably be expected to detract
from the value or the existing use of the property affected by such Encumbrance or imperfection, (d) restrictions on transfer under the Securities Act and applicable state securities laws; (e) for periods arising (x) on or prior to the Closing Date,
Encumbrances securing Funded Indebtedness or (y) after the Closing Date, Encumbrances securing any Funded Indebtedness which were not paid off at Closing; (f) Encumbrances arising directly pursuant to or in connection with this Agreement; (g)
Encumbrances in favor of any OEM or any financial institution providing credit to any of the Companies in the ordinary course of business in connection with the acquisition by any of the Companies of any items of inventory, whether equipment, parts
or supplies, where such Encumbrances both (1) are attached solely to the acquired goods and the proceeds from the sale thereof, in whatsoever form, and (2) secure the payment by the Companies of all amounts due and payable and to become due and
payable by 

  

 - 8 - 

 
the Companies or any of them to such OEM or financial institution in connection with the purchase of goods in the ordinary course of business; and (h)
Encumbrances securing any advances in the ordinary course of business from unaffiliated leasing companies processing lease payments. 
  
 “Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, limited liability company,
trust, unincorporated organization or Governmental Body. 
  
 “Plan Affiliate” shall have the meaning set forth in Section 3.30. 
  
 “Pre-Closing Tax Period” has the meaning specified in Section 6.5(a). 
  
 “Preliminary Closing Balance Sheet” shall mean the
Parent’s best estimate of the Company’s consolidated balance sheet as of the Effective Date. The Preliminary Closing Balance Sheet shall be delivered to Buyer no less than two (2) Business Days prior to the Closing Date. The Preliminary
Closing Balance Sheet shall also include the Parent’s best estimate of all Shut Down Costs and Sellers’ Closing Costs. 
  
 “Primary Cap” has the meaning specified in Section 8.5. 
  
 “Purchase Price” has the meaning specified in Section 2.2. 
  
 “RCRA” means the Resource Conservation and Recovery Act, 42
U.S.C. §§ 6901 et seq., and any amendment thereto, and any regulations promulgated thereunder as in effect on the date hereof. 
  
 “Resale Registration Statement” shall have the meaning set forth in Section 6.6. 
  
 “Requirements of Laws” means any foreign, federal, state and
local laws, statutes, regulations, rules, codes or ordinances enacted, adopted, issued or promulgated by any Governmental Body or under common law. 
  
 “SEC” shall have the meaning set forth in Section 6.6. 
  
 “Sellers” has the meaning set forth in the first paragraph of this Agreement. 
  
 “Sellers’ Closing Costs” shall mean all legal,
accounting, investment banking fees and brokerage expenses of Sellers and the Company, which are associated with the transactions contemplated by this Agreement solely to the extent payable by the Company on or after the Closing Date or Buyer, prior
to, on or after the Closing Date. 
  
 “Securities
Act” means the Securities Act of 1933, as amended. 
  
 “Service Contracts” shall have the meaning set forth in Section 3.14. 
  

 - 9 - 

 “Shares” means all of the issued and outstanding shares of the capital stock of the
Company. 
  
 “Shut Down Costs” shall mean all
non-recurring costs and expenses of Sellers and the Company of the type set forth on Schedule 1.1(c) in the amounts set forth thereon (including office space lease terminations, severance and other employee termination costs and continuing
directors and officers insurance coverage for six years to the extent not paid by the Companies prior to Closing), which are directly related to the shut down of the Company’s current headquarters in Chicago, Illinois or actual expenses with
respect to change in control provisions in employment agreements with officers of the Companies whose names appear on Schedule 1.1(c), solely to the extent payable by the Company on or after the Closing Date or Buyer prior to, on or after the
Closing Date. 
  
 “Stock Portion of the Purchase
Price” shall have the meaning set forth in Section 2.3(b). 
  
 “Subsequent Increase in Value” has the meaning specified in Section 2.9. 
  
 “Subsidiary(ies)” means any Person which is an entity with respect to which another specified entity either (i) has the power to vote or
direct the voting of sufficient securities to elect a majority of the directors or managers of such Person, or (ii) owns a majority of the ownership interests of such entity. 
  
 “Tax” or “Taxes” means any federal, state, local or foreign income, alternative or add-on
minimum, gross income, gross receipts, windfall profits, severance, property, production, sales, use, transfer, gains, stamp, license, excise, employment, payroll, withholding or minimum, transfer, goods and services, or any other tax, custom, duty,
governmental fee or other like assessment or charge of any kind whatsoever, together with any interest or any penalty, or additional amount imposed thereon by any Governmental Body. 
  
 “Tax Benefits” has the meaning set forth in Section 6.7(a). 
  
 “Tax Return” means any return, report or similar statement
required to be filed with respect to any Taxes (including any attached schedules), including, without limitation, any information return, claims for refund, amended return and declaration of estimated Tax. 
  
 “Transaction Documents” shall mean this Agreement, the
Escrow Agreement, the Release, the Equity Subscription Agreement, the secretary’s certificate and such other documents, certificates and agreements contemplated by any of the foregoing. 
  
 “Unclaimed Property” shall mean abandoned, escheat or
residual property of a customer, employee or vendor of the Companies such as customer deposits and refunds, employee and accounts payable and customer credits which are required to be paid within a specified period of time to the state of the last
known address of the Person or the state of organization of a Company for the account of such Person under Requirements of Laws in the states of Delaware, Texas, California, Arizona, Oregon, Washington and Illinois. 
  

 - 10 - 

 “Working Capital” shall mean the difference between the Company’s consolidated
total current assets minus the Companies’ consolidated total current liabilities, determined as of the Effective Date in accordance with GAAP. For purposes of this definition, (i) total current assets shall be deemed to exclude the
Companies’ consolidated Cash, deferred Tax assets and notes receivable from employees of the Companies and (ii) total current liabilities shall be deemed to exclude the current portion of Funded Indebtedness (other than any advances in the
ordinary course of business from unaffiliated leasing companies processing lease payments), Shut Down Costs and Sellers’ Closing Costs. Working Capital may be adjusted in good faith by Buyer and Parent prior to Closing for other mutually agreed
upon non-recurring items between the Effective Date and the Closing Date, a typical list of which is attached hereto as part of Schedule 2.6(b). 
  
 “Working Capital Target” shall mean $15,686,648. 
  

ARTICLE II 
 AGREEMENT OF PURCHASE
AND SALE; CLOSING 
  
 2.1 Agreement to Sell and
Purchase. Upon the basis of the representations and warranties, for the consideration, and subject to the terms and conditions set forth in this Agreement, the Parent agrees to sell the Shares to Buyer and Buyer agrees to purchase the Shares
from the Parent at the Closing. 
  
 2.2 Purchase Price.
In consideration for the Shares and the fulfillment of the obligations set forth herein, Buyer shall pay to the Parent $131,800,000, subject to any adjustment to the Cash Portion of the Purchase Price required to be made pursuant to Section
2.6, Section 2.8 or Section 2.9 below (the “Purchase Price”). 
  
 2.3 Payment of Purchase Price. The Purchase Price shall be payable by Buyer at the Closing as follows: 
  
 (a) Cash Portion. The Estimated Cash Purchase
Price (as defined below) will be paid in cash by wire transfer of funds to an account designated by the Parent. For purposes of this Agreement, the “Estimated Cash Portion of the Purchase Price” shall mean an amount equal to
$105,440,000 and less $4,000,000 delivered to the Escrow Agent pursuant to Section 2.3(c) below, as adjusted upward or downward in accordance with Section 2.6 below (the “Cash Portion of the Purchase Price”), as
represented by Parent (including an estimate of the components of the Cash Portion of the Purchase Price) on a certificate (the “Estimated Cash Portion Certificate”), which shall include the Preliminary Closing Balance Sheet and be
prepared in a manner consistent with the Purchase Price Calculation Example as if the Closing had occurred on January 31, 2004 set forth on Exhibit F, delivered to the Parent and accepted by Buyer in its reasonable discretion (which
acceptance shall be deemed an acceptance to use such determination for purposes of Closing but shall not be construed as an agreement with the Parent as to the actual Cash Portion of the Purchase Price or any components thereof) not less than two
days prior to the Closing; 
  

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 (b) Stock Portion. For purposes of this Agreement, the “Stock
Portion of the Purchase Price” shall mean an amount equal $26,360,000. The Stock Portion of the Purchase Price will be paid by Buyer at the Closing in the form of Global Stock, to be delivered to the Parent. The aggregate number of shares
of Global Stock to be delivered to the Parent shall be equal to the quotient obtained by dividing the Stock Portion of the Purchase Price by $32.4047 (the average of the closing bid price per share of Global’s Stock on the NASDAQ National
Market System for the thirty (30) Business Days prior to the date which is two (2) Business Days prior to the date of this Agreement). If the foregoing calculation would result in the issuance of a fraction of a share of Global Stock, the Buyer
shall round such fraction of a share of Global Stock up to the nearest whole share. The Parent shall enter into an equity subscription agreement (“Equity Subscription Agreement”) in the form attached hereto as Exhibit H in
respect of such shares; and 
  
 (c)
Escrow Portion. $4,000,000 of the Purchase Price shall be paid by Buyer at the Closing in cash, which shall be delivered to the Escrow Agent to be held in escrow in accordance with the terms of the Escrow Agreement and Section 2.5
below. 
  
 2.4 Closing.  
  
 (a) Date and Place. The Closing of the
purchase and sale of the Shares contemplated by this Agreement shall take place at 9:00 a.m., Central Time, at the offices of Kirkland & Ellis LLP in Chicago, Illinois on the third Business Day after satisfaction or waiver of the conditions to
Closing contained in Article VII hereof, or at such other date and time as the parties shall agree but not later than June 30, 2004 (the “Closing Date”), effective as of 12:01 a.m. on the first day of the month in which the
Closing occurs (the “Effective Date”). 
  
 (b) Deliveries at the Closing. At the Closing, (i) the Sellers and the Company will deliver to Buyer the various certificates, instruments, and documents referred to in Section 7.1(h) below, (ii)
Buyer and Global will deliver to the Sellers the various certificates, instruments, and documents referred to in Section 7.2(c) below, (iii) the Parent will deliver to Buyer stock certificates representing all of its Shares, endorsed in blank
or accompanied by duly executed assignment documents, (iv) Buyer will deliver to the Parent the Estimated Cash Portion of the Purchase Price specified in Section 2.3(a) above, (v) Buyer will deliver to the Parent the Stock Portion of the
Purchase Price specified in Section 2.3(b) above; and (vi) Buyer will deliver to the Escrow Agent the escrow portion of the Purchase Price specified in Section 2.3(c) above. 
  
 2.5 Escrow Arrangements. Pursuant to the
Escrow Agreement to be entered into among the Parent, Buyer, Global and the Escrow Agent, $4,000,000 of the Purchase Price pursuant to Section 2.3(c) shall be delivered to the Escrow Agent at Closing in cash. Such cash (which, together with
any interest accrued thereon, is hereinafter referred to as the “Escrow Sum”) shall be held pursuant to the terms of the Escrow Agreement for payment from such Escrow Sum of the amounts, if any, owing by the Parent to Buyer pursuant
to Section 2.8 (at any time during the Escrow Period) or the Sellers’ indemnification obligations under Article VIII below. Within three (3) Business Days after the Closing Statement Review becomes final and binding on the parties
pursuant to Sections 2.7 and 2.8 below, such remaining portion of the 

  

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Escrow Sum in excess of $1,000,000 not theretofore subject to an unresolved claim of Buyer pursuant to the Escrow Agreement or paid to Buyer in accordance
with the terms of the Escrow Agreement and this Agreement shall be disbursed to the Parent. At the conclusion of the period ending on the first anniversary of the Closing Date (such period being referred to herein as the “Escrow
Period”), such remaining portion of the Escrow Sum not theretofore subject to an unresolved claim of Buyer pursuant to the Escrow Agreement in accordance with the terms of the Escrow Agreement and this Agreement shall be disbursed to the
Parent in accordance with the Escrow Agreement. The Parent and Buyer agree that each will execute and deliver such reasonable instruments and documents as are furnished by any other party to enable such furnishing party to receive those portions of
the Escrow Sum to which the furnishing party is entitled under the provisions of the Escrow Agreement and this Agreement. 
  
 2.6 Purchase Price Adjustments. The Cash Portion of the Purchase Price payable at Closing will be adjusted as follows:

  
 (a) Funded Indebtedness. The
Cash Portion of the Purchase Price will be reduced by the total amount of Funded Indebtedness as of the Closing, assumed or paid by Buyer, if any, in cash by wire transfer of funds to the accounts of the holders of Funded Indebtedness listed on
Schedule 2.6(a) hereto to satisfy in full the Company’s Funded Indebtedness with such holders. 
  
 (b) Working Capital. The Cash Portion of the Purchase Price will be adjusted, on a dollar-for-dollar basis, (i) downward by
the amount, if any, by which the Working Capital as reflected on the Preliminary Closing Balance Sheet is less than the Working Capital Target minus $750,000 or (ii) upward by the amount, if any, by which the Working Capital as reflected on the
Preliminary Closing Balance Sheet is greater than the Working Capital Target plus $750,000. 
  
 (c) Cash on Hand. The Cash Portion of the Purchase Price will be adjusted, on a dollar for dollar basis, (i) downward by the
amount, if any, by which the Cash as of the Effective Date as reflected on the Preliminary Closing Balance Sheet (the “Closing Cash”) is less than the Cash Target minus $250,000 or (ii) upward by the amount, if any, by which the
Closing Cash is greater than the Cash Target plus $250,000. 
  
 (d) Funding of Shut Down Costs and Other Sellers’ Closing Costs. The Cash Portion of the Purchase Price shall be adjusted downward by the aggregate amount of all Sellers’ Closing Costs as of
the Closing Date (whether or not accrued for by the Company) to the extent not paid by the Company prior to the Closing Date. The Cash Portion of the Purchase Price will be also be adjusted downward by the estimated amount of the Shut Down Costs
(whether or not accrued for by the Company) to the extent not paid for by the Company prior to the Closing Date. 
  
 (e) [****] 
  

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 (f) Allocation of Adjustments. All adjustments to the Purchase Price under
Sections 2.6(a), (b), (c), (d) or (e) above shall be allocated only against the Cash Portion of the Purchase Price payable at the Closing.  
  
 2.7 Closing Review. As promptly as possible (and, any event, within one hundred eighty (180)
days) following the Closing Date, there shall be delivered to the Sellers a draft of the Closing Balance Sheet and a computation schedule of the determination of the Cash Portion of the Purchase Price, as adjusted pursuant to Section 2.6
above at and as of the Effective Date (in its final and binding form together with the Closing Balance Sheet, the “Closing Statement Review”); provided, that no adjustments shall be made to Working Capital for any non-recurring
items between the Effective Date and the Closing Date which were not identified by Buyer and Parent prior to Closing without the consent of Buyer and Parent (such consent not to be unreasonably withheld or delayed to the extent consistent with the
types of items contemplated in Schedule 2.6(b)). The Closing Statement Review shall be prepared by Global and reviewed by E&Y in accordance with GAAP consistent with the computations made in the Estimated Cash Portion Certificate pursuant
to this Agreement. The Parent and its accountants will have access to the books, records and working papers of the Company and Buyer as they may reasonably request in order to enable the Parent and its accountants to verify the calculations of the
amounts listed on the Closing Statement Review and Parent shall be entitled to have its representatives present during any audit or inspection of the inventory in connection with the preparation of the Closing Statement Review. If the Parent
does not dispute any item on the Closing Statement within thirty (30) days after the Parent’s receipt thereof, the Closing Statement Review and the Cash Portion of the Purchase Price calculated thereon will be become final and binding upon the
parties hereto. In the event that the Parent disputes any items on the Closing Statement Review within thirty (30) days after the Parent’s receipt thereof, the Parent will notify Buyer of such dispute and Buyer and the Parent will thereafter
negotiate in good faith to resolve any such dispute. Any resolution agreed to in writing by Buyer and the Parent will be final and binding upon the Parties. If the dispute is not resolved within thirty (30) days of the Parent’s notification to
Buyer of the existence of a dispute, then Global and the Parent shall jointly select and retain PricewaterhouseCoopers LLP (the “Independent Accountants”), to review the disputed item(s) on the Closing Statement Review. The
Independent Accountants shall consider only those items actually disputed by the Parties and shall otherwise conduct its review and make its determination in accordance with the provisions, definitions, terms and conditions of this Agreement.
Global, Buyer and the Parent shall instruct, (i) and use their commercially reasonable efforts to cause, the Independent Accountants to complete their determination with respect to such dispute within thirty (30) days after submission of the dispute
to the Independent Accountants; (ii) the Independent Accountants not to assign a value to any item in dispute greater than the greatest value for such item assigned by Buyer, on the one hand, or Parent, on the other hand, or less than the smallest
value for such item assigned by Buyer, on the one hand, or the Parent, on the other hand and (iii) the Independent Accountants to make its determination based solely on presentations by Buyer and Parent which are in accordance with the guidelines
and procedures set forth in this Agreement (i.e., not on the basis of an independent review). Buyer, Global and Parent will cooperate with the Independent Accountants during the term of its engagement. The Closing Statement Review and the
determination of the resulting Cash Portion of the Purchase Price calculated with reference thereto shall become final and binding on the parties to this Agreement (and may be enforced by any court of competent  

  

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jurisdiction) on the date the Independent Accountants delivers its final resolution in writing to the parties. The fees and expenses of the Independent
Accountants shall be shared 50% by Buyer and Global, jointly and severally, and 50% by Parent. 
  
 2.8 Post-Closing Purchase Price Adjustment. Promptly after the Closing Statement Review, including the final determination of the
adjustments to the Purchase Price under Section 2.6 (utilizing the Closing Statement Review instead of the Preliminary Closing Balance Sheet for all such adjustments), and the resulting Cash Portion of the Purchase Price calculated with
reference to such amounts become final and binding on the parties under Section 2.7 above, the Estimated Cash Portion of the Purchase Price shall be recalculated by giving effect to the final and binding Closing Statement Review, including
the adjustments to the Purchase Price under Section 2.6, (as recalculated, the “Final Cash Portion of the Purchase Price”). If the Estimated Cash Portion of the Purchase Price is greater than the Final Cash Portion of the
Purchase Price, such difference shall be paid out of the Escrow Sum to the Buyer (which Escrow Sum shall be the sole and exclusive remedy for Buyer under this Section 2.8). If the Estimated Cash Portion of the Purchase Price is less than the
Final Cash Portion of the Purchase Price, such difference shall be payable, jointly and severally, by Global and Buyer to Parent. Any payment to be made pursuant to this Section 2.8 shall be made in immediately available funds by wire
transfer within three (3) Business Days after the Closing Statement Review and the Purchase Price become final and binding on the parties hereto pursuant to this Section 2.8. The provisions of Sections 2.6 and 2.7 and this
Section 2.8 shall not be subject to, and the claims hereunder shall not be included in any of the claims that are subject to, the limitations of Article VIII (except for the right to make a claim under Section 8.1 for a failure
to pay any amounts due under Sections 2.6, 2.7 or 2.8 and except that claims under Section 2.8 shall be deducted from the $4,000,000 aggregate Primary Cap liability of Sellers under Section 8.5 hereof). 
  
 2.9 EBITDA Adjustment to the Purchase Price. Any Decrease in
Pre-Closing Value (as hereinafter defined) in excess of [****] shall reduce the Purchase Price payable hereunder at Closing. For purposes of this Agreement, a “Decrease in Pre-Closing Value” shall mean any decrease in the value of
the Companies as of the Closing Date, if any, as determined in good faith by Buyer and Parent prior to Closing, which for purposes of this Agreement shall be deemed to equal (a) [****] (b) the amount (if any) by which the January 31 Shortfall (if
any) exceeds the Subsequent Increase in Value (if any). The term “January 31 Shortfall” shall mean the amount (if any) by which the Agreed EBITDA exceeds the Actual 1/31/04 EBITDA. The term “Subsequent Increase in
Value” shall mean the amount (if any) by which the EBITDA as of the last day of the month immediately preceding the Closing Date for which financial statements are available exceeds the Actual EBITDA. In no event shall the Decrease in
Pre-Closing Value exceed [****]. No adjustment pursuant to Section 2.9 shall be made for items which are already an adjustment to the Preliminary Closing Balance Sheet, if any. For purposes of illustration of this Section 2.9 only,
assuming the Closing occurs on April 15, 2004 and the Agreed EBITDA is $17,600,000, the decrease in the value of the Companies prior to Closing would be determined as follows: 
  
 (i) If the Actual EBITDA is [****] and EBITDA as of March 31, 2004 is [****], the decrease in the value of the Companies as
of the date of this 

  

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Agreement would be deemed to equal [****]. Less the [****] deductible, the Purchase Price would be reduced by [****]. 
  
 (ii) If the Actual EBITDA is [****] and EBITDA as of March 31, 2004 is
[****], the decrease in the value of the Companies as of the date of this Agreement would be deemed to equal [****]. Since this adjustment is less than [****], no adjustment to Purchase Price would occur. 
  
 (iii) If the Actual EBITDA is [****] and EBITDA as of March 31, 2004 is
[****], there would be no decrease in the value of the Companies as of the date of this Agreement [****]. 
  
 (iv) If the Actual EBITDA is [****], there would be no decrease in the value of the Companies as of the date of this Agreement [****]. 
  
 (v) If the Actual EBITDA is [****] and EBITDA as of March 31, 2004 is
[****], then the decrease in value of the Companies as of the date of this Agreement would be deemed to equal [****]. Less the [****] deductible but subject to the [****] cap, the Purchase Price would be reduced by [****]. 
  
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES 
 OF THE COMPANY AND THE SELLERS 

 
 The Parent and the Company jointly and severally represent and warrant to
Buyer and Global, jointly and severally with respect to matters relating to the Company (but not with respect to a member of Parent individually), and each Seller represents and warrants severally but not jointly with respect to matters relating to
such Seller individually in Sections 3.1 and 3.9(a), (d) and (e), that subject to the specific qualifications and limitations set forth herein, including, without limitation, the qualifications and limitations set forth
in the disclosure schedules delivered by the Parent to Buyer and Global on the date hereof (the “Disclosure Schedules”), the statements contained in this Article III are correct and complete as of the date hereof and will be
correct and complete as of the Closing Date (as though made then and as though the Closing Date were substituted for the date of this Agreement throughout this Article III), except to the extent that such representations and warranties are
expressly made as of another specified date, and as to such representation, the same shall be true as of such date and except with respect to factors, circumstances or events, including execution of contracts or other agreements, first arising or,
in the case of representations given to the Company’s Knowledge, such Knowledge being obtained in good faith after the date hereof; provided that such factors, circumstances or events do not constitute a breach of any of the Sellers’ or
Company’s covenants pursuant to Article V of this Agreement except as would not have a Material Adverse Effect. The Disclosure Schedules may be updated one or more times prior to the Closing Date and the delivery of such updated
Disclosure Schedules shall be deemed to have cured any misrepresentation or breach of warranty that otherwise might have existed hereunder by reason of such variance or inaccuracy and neither Buyer nor Global shall have any claim (whether for

  

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indemnification or otherwise) against the Company or the Sellers for any such variance or inaccuracy; provided that any such updated Disclosure
Schedules containing any change that would result in any Material Adverse Effect shall not cure any misrepresentation or breach of warranty of the Company and Sellers under this Article III. The inclusion of any item on any Disclosure
Schedule shall not constitute an admission that such item is material or that a violation, right of termination, default, liability or other obligation of any kind exists with respect to such item, but rather is intended only to qualify certain
representations and warranties in this Agreement and to set forth other information required by this Agreement. The headings with respect to each item are included for convenience only, and are not a part of the responses to requirements or a
qualification of the representations and warranties set forth in this Agreement. Capitalized terms used in the Disclosure Schedules but not otherwise defined shall have the meanings assigned to them in this Agreement. Nothing in the Disclosure
Schedules shall be deemed adequate to disclose an exception to a representation or warranty made herein, unless the Disclosure Schedules identify the exception with reasonable particularity or the disclosure manifestly states an exception to a
warranty or representation, as the context requires. Without limiting the generality of the foregoing, the mere listing (or inclusion of a copy) of a document or other item shall not be deemed adequate to disclose an exception to a representation or
warranty made herein (unless (i) the representation or warranty had to do with the existence of the document or other item itself or (ii) the representation and warranty refers to a specific violation or exception contained in the document or other
item itself, which violation or exception to a representation or warranty would be reasonably obvious to a reasonable purchaser upon review of the document or item). Notwithstanding the foregoing, if a disclosure on one schedule would be reasonably
obvious to a reasonable purchaser to apply to the disclosure under another schedule, then such disclosure shall be sufficient for such other schedule (for example, if the Sellers specifically disclose on Schedule 3.12(b) an uncollectable
Account Receivable that has not been reserved for on the Financial Statements, such disclosure shall be sufficient for a disclosure under Schedule 3.11(b)). The Disclosure Schedules will be arranged in Schedules corresponding to the lettered
and numbered paragraphs contained in this Article III. 
  
 3.1 Due Authorization. The Company and such Seller have all requisite power, right and authority to execute, deliver and perform their respective obligations under this Agreement and each of the Transaction Documents to which
they are a party. The execution, delivery, and performance of this Agreement, the Transaction Documents and the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary corporate action of the Company. This
Agreement and each of the Transaction Documents to which the Company and such Seller is a party have been duly executed and delivered by the Company and such Seller, as applicable, and constitute the valid and binding obligations of the Company and
such Seller, as applicable, and are enforceable against the Company and such Seller, as applicable, in accordance with their respective terms, except to the extent that the enforcement of this Agreement and/or any of the Transaction Documents may be
limited by the application of federal or state laws (including common law) relating to insolvency, bankruptcy, receivership, creditors’ rights, moratorium, general equitable principles, or public policy. 
  
 3.2 Title to Shares. The Parent is the record and beneficial
owner of, and has good and marketable title to all of the Shares, which Shares, upon Closing and assuming payment in full of all Funded Indebtedness under the Company Credit Agreement, shall be 

  

 - 17 - 

 
delivered to Buyer free and clear of any Encumbrances whatsoever other than securities law restrictions under item (d) of Permitted Exceptions, and none of
the Shares is subject to any outstanding option, warrant, call, or similar right of any other Person to acquire the same, and none of the Shares is subject to any restriction on transfer thereof except for restrictions imposed by applicable federal
and state securities laws and restrictions with respect to the Funded Indebtedness under the Company Credit Agreement. Upon consummation of the transactions contemplated herein in accordance with the terms hereof and assuming payment in full of all
Funded Indebtedness under the Company Credit Agreement, Buyer will hold good and marketable title to all of the Shares, free and clear of any Encumbrances whatsoever, other than Encumbrances resulting from acts, events, or circumstances solely
within the control of Buyer and other than securities law restrictions under item (d) of Permitted Exceptions. 
  
 3.3 Organization and Qualification. The Company is a corporation duly organized, validly existing, and in good standing under the laws of
the State of Delaware. The Company has all requisite corporate power and authority to carry on its business in all material respects as it is now being conducted and to own or hold under lease the properties and assets it now owns or holds under
lease. The Company is duly qualified to do business and is in good standing as a foreign corporation in the State of Illinois and there are no other jurisdictions in which its failure to qualify as a foreign corporation would have a Material Adverse
Effect. The Parent is a limited liability company organized, validly existing and in good standing under the laws of the State of Delaware. 
  
 3.4 Subsidiaries. 
  
 (a) Except as set forth on Schedule 3.4, the Company has no Subsidiaries nor any stock, partnership interests, limited
liability company interests, joint venture interests or other equity interests in any other Person. Schedule 3.4 sets forth for each Subsidiary of the Company, if any, (i) its name and jurisdiction of incorporation, (ii) the type of entity
(corporation, limited liability company or partnership) of such Subsidiary; (iii) the number of shares of authorized capital stock of each class of its capital stock or equivalent ownership interest in a limited liability company or partnership,
(iv) the number of issued and outstanding shares of each class of its capital stock or membership interests or partnership interests, as the case may be, the names of the holders thereof, and the number of shares or other ownership interests held by
each such holder, and (v) the number of shares of its capital stock held in treasury, if applicable. 
  
 (b) All of the issued and outstanding shares of capital stock of each corporate Subsidiary of the Company have been duly authorized
and are validly issued, fully paid, and non-assessable. The Company and/or its Subsidiaries holds of record and owns beneficially all of the outstanding shares, membership interests or partnership interests, as applicable, of any Subsidiary of the
Company, free and clear of any restrictions on transfer (other than restrictions under applicable securities laws and Permitted Exceptions), Encumbrances, other than Permitted Exceptions, all of which (other than restrictions under applicable
securities laws and Encumbrances securing Funded Indebtedness after the Closing, which Funded Indebtedness reduced the Purchase Price pursuant to Article II) shall have been released as of the Closing. 
  

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 (c) There are no outstanding or authorized options, warrants, rights, contracts,
calls, puts, rights to subscribe, conversion rights, or other agreements or commitments to which the Company is a party or which are binding on it providing for the issuance, disposition, or acquisition of any capital stock, membership interests or
partnership interests, as applicable of any Subsidiary of the Company other than with respect to the Funded Indebtedness under the Company Credit Agreement. There are no outstanding stock appreciation, phantom stock, or similar rights with respect
to any Subsidiary of the Company. There are no voting trusts, proxies, or other agreements or understandings with respect to the voting of any capital stock, membership interests or partnerships interests, as applicable, of any Subsidiary of the
Company. 
  
 (d) The Company does not
control directly or indirectly or have any direct or indirect equity participation in any corporation, partnership, limited liability company, organization or other business association which is not a Subsidiary of the Company. Except as set forth
on Schedule 3.4 and except with respect to the ownership of the Companies and the operations, actions and activities of the Companies, the Parent (1) has no involvement of whatsoever kind or nature in the Business and (2) has no ownership or
other interest in any Affiliate of the Sellers that is engaged, involved or participates in any manner in the Business. Each Subsidiary has all requisite corporate, partnership or limited liability company power and authority to carry on its
business in all material respects as it is now being conducted and to own or hold under lease the properties and assets it now owns or hold under lease. Each Subsidiary is duly qualified to do business and is in good standing as a foreign
corporation or entity in the jurisdictions listed on Schedule 3.4 and there are no other jurisdictions in which its failure to qualify as a foreign corporation or entity would have a Material Adverse Effect. 
  
 3.5 Organizational Documents, Governing Documents, Officers and
Directors. The Parent has delivered to Buyer complete and correct copies of each of the Companies’ Organizational Documents, certified by the Secretary of State of the State of organization, and the Governing Documents of the Companies,
as amended to date, copies of which are attached hereto as Schedule 3.5. Schedule 3.5 also contains a complete and correct list of all of the officers and directors (or managers and general partners, as the case may be) of the
Companies. 
  
 3.6 Capital Stock; Title to Shares.
Schedule 3.6 sets forth the entire authorized capital stock and the total number of issued and outstanding shares of capital stock of the Company. All of the outstanding shares of capital stock of the Company (constituting the Shares) are
validly issued, fully paid and non-assessable and owned, beneficially and of record, by the Parent and no Shares are subject to, nor have been issued in violation of preemptive or similar rights. All issuances, sales and repurchases by the Company
of its capital stock have been effected in material compliance with all applicable laws, including applicable federal and state securities laws. 
  
 3.7 Convertible Securities, Options, Etc. Except as set forth on Schedule 3.7, the Company has no outstanding stock or other
securities convertible into or exchangeable for shares of its capital stock or containing profit participation features, and the Company has no outstanding options, warrants or rights to subscribe for or to purchase any of its capital stock or any
stock or securities convertible into or exchangeable for its capital stock. The 

  

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Company is not subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares of its capital stock or any
warrants, options or other rights to acquire its capital stock except for redemption and repurchase rights with respect to its preferred stock pursuant to its Organizational Documents, none of which have been exercised since December 31, 2002. There
are no voting agreements, voting trusts or other agreements (including contractual or statutory preemptive rights or cumulative voting rights), commitments or understandings with respect to the voting or transfer of the capital stock of the Company.

  
 3.8 Books and Records. The books of account,
minute books, stock record books, and other corporate, partnership and limited liability company records of the Companies, all of which have been made available to Buyer, are complete and correct in all material respects and have been maintained in
accordance with reasonably sound business practices, including the maintenance of an adequate system of internal controls. No meeting of any stockholders, board of directors, or any committee of the Company thereof, has been held for which minutes
have not been prepared and are not contained in such minute books except where the failure to have minutes prepared and/or included in the minute books would not have a Material Adverse Effect. The stock ledger of the Company contains a complete and
correct record of all issuances and transfers of capital stock of the Company since its inception. At the Closing, all of the material books and records of the Companies will be in the possession of the Company. 
  
 3.9 Transaction Not a Breach. Except as set forth on
Schedule 3.9, neither the execution and delivery of this Agreement and the Transaction Documents by the Company and such Seller nor the performance by the Company and such Seller of the transactions contemplated hereby or thereby will:

  
 (a) violate or conflict with or result
in a breach of any provision of any material Requirements of Laws binding on the Companies or such Seller or their respective properties; 
  
 (b) constitute a default under the Organizational Documents or Governing Documents of any of the Companies or the Parent;

  
 (c) constitute an event of default or
an event which would permit any party to terminate, or accelerate the maturity of any indebtedness for borrowed money or other obligation under any Listed Contract other than the Company Credit Agreement, any Dealer Agreement, that certain Purchase
and Sale Agreement (Non-Standard Portfolio) dated June 8, 1999 by and among Newcourt Leasing Corporation and certain of the Companies, and that certain Purchase and Sale Agreement (Standard Portfolio) dated June 8, 1999 by and among Newcourt Leasing
Corporation and certain of the Companies; 
  
 (d) result in the creation or imposition of any Encumbrance upon the Shares (other than Permitted Exceptions all of which (other than restrictions under applicable securities laws and other than Encumbrances securing Funded
Indebtedness, which Funded Indebtedness reduced the Purchase Price pursuant to Article II) will be removed on or prior to the Closing) or any of the Companies’ material assets (including the shares or other ownership interests of any
Subsidiary); or 
  

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 (e) require any authorization, consent, approval, exemption or other action by or
notice to (i) any court or administrative or Governmental Body pursuant to the Organizational Documents or Governing Documents of any of the Companies or the Parent or under any material Requirement of Laws (other than the HSR Act), or (ii) any
other Person. 
  
 3.10 Compliance with Applicable
Laws. The Companies are in compliance in all material respects with all applicable Requirements of Laws, Governmental Permits and Court Orders. Except as described on Schedule 3.10, the Companies are not a party to, bound by or
affected by, any material Court Order (or agreement entered into in any administrative, judicial or arbitration proceeding with any Governmental Body) applicable directly to any of the Companies, the Sellers or the Business with respect to any of
the Companies’ properties, assets, personnel or business activities. Except as set forth on Schedule 3.10, the Companies are not, in any material respect, in violation of, or delinquent in respect to, any Court Order, Requirements of
Laws or Governmental Permits (to which it or its properties, assets, personnel or business activities are subject), arising out of, resulting from or in any way connected with the operation of the Companies, including Requirements of Laws relating
to equal employment opportunities, fair employment practices, unfair labor practices, terms of employment, occupational health and safety, wage and hour, discrimination, and zoning ordinances and building codes. The Companies have filed with the
proper Governmental Bodies, except where the failure to file will not result in a Material Adverse Effect, all statements and reports required by all Requirements of Laws, Governmental Permits and Court Orders to which the Companies or any of their
employees (because of their activities on behalf of the Companies) are subject. Except as set forth on Schedule 3.10, none of the Companies has received any written notices of a claim made by any Governmental Body to the effect that the
Business fails to comply, in any material respect, with any Requirements of Laws or Governmental Permit or that a Governmental Permit or Court Order is necessary in respect thereto. Copies of all notices of any material violation of any of the
foregoing that any of the Companies has received since their date of acquisition by the Company have previously been made available and offered to Buyer. 
  
 3.11 Financial Statements. 
  
 (a) Schedule 3.11(a) contains the following financial statements of the Companies: 
  
 (i) the audited consolidated financial statements,
including the balance sheets of the Companies as of December 31, 2003, December 31, 2002 and December 31, 2001 and the related statements of income and cash flows for the years then ended as audited by E&Y (the “Historic Financial
Statements”); and 
  
 (ii) the
unaudited consolidated financial statements, including the balance sheets of the Companies as of months ended January 31, 2003 and January 31, 2004 and the related statements of income for the one month periods then ended (the “Interim
Financial Statements” and together with the Historic Financial Statements, the “Financial Statements”). 
  

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 (b) Throughout all periods covered by the Financial Statements, the Company has
prepared such statements in accordance with GAAP (other than normal year-end adjustments with respect to the Interim Financial Statements). Except as set forth on Schedule 3.11(b), each of the Financial Statements and the Preliminary Closing
Balance Sheet is true and complete in all material respects, is consistent with the books and records of the Companies, and presents or will present fairly in all material respects, in accordance with GAAP, the consolidated assets, liabilities,
financial position and, where applicable, results of operations of the Companies as of the dates and the periods therein set forth, except that the Interim Financial Statements lack footnote disclosures and are subject to normal year-end
adjustments, none of which individually or in the aggregate, could have a Material Adverse Effect. 
  
 (c) As of Closing, except for trade payables and accrued expenses arising in the ordinary course of business and except as shall be
reflected on the final and binding Closing Balance Sheet, the Companies shall have no liabilities whatsoever for borrowed money, including any liabilities to any Seller or any Affiliate or relation of any Seller. 
  
 (d) Schedule 3.11(d) sets forth an accurate
and complete list of all Guaranteed Obligations involving, either individually or in the aggregate, together with all other undisclosed Guaranteed Obligations, in excess of $200,000. This list shall include (1) every contract, agreement, personal
property lease, relationship or commitment, written or oral, to which any of the Companies is a party or by which any of the Companies is bound that binds, commits or otherwise obligates any of the Companies, directly or indirectly, to be primarily
or secondarily liable for any liabilities of any Person other than the Companies, (2) the original amount of recourse leases constituting Guaranteed Obligations if reasonably known (excluding the amount of any Guaranteed Obligations terminated on or
prior to Closing), (3) the outstanding balance of all recourse liabilities constituting Guaranteed Obligations as of either December 31, 2003 or March 31, 2004 (whichever is available) if reasonably known (excluding the amount of any Guaranteed
Obligations terminated on or prior to Closing), and (4) the Person to whom each Guaranteed Obligation is or may be owed. Immediately following the Closing, and except as expressly contemplated by this Agreement, the Companies will not have any
Guaranteed Obligations for the benefit of any Seller or any Affiliate or relation of any Seller. 
  
 3.12 Inventories, Accounts Receivable and Accounts Payable. 
  
 (a) Except as set forth on Schedule 3.12(a), the inventory of equipment, parts and supplies of
the Companies as reflected on the Financial Statements and the Preliminary Closing Balance Sheet, respectively, has been acquired and maintained in the ordinary course of business, includes both new and used items and consists of the quality and
condition usable, leaseable or salable in the ordinary course of business, and is not subject to any write-down or write-off in excess of $1,000,000 in the aggregate for obsolescence or otherwise under GAAP (in each case, other than such as is
adequately reserved for on the Financial Statements or will be reserved for on the Closing Balance Sheet). All inventories reflected in the Financial Statements are valued at the lower of cost (specific identification or average cost for equipment
and average cost for related parts and supplies) or market value. Except as set forth on Schedule 3.12(a), the Companies’ inventory of equipment, parts and supplies are free and clear of all Encumbrances other than Permitted Exceptions.

  

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 (b) Except as set forth on Schedule 3.12(b), the amount of all accounts and
notes receivable, unbilled invoices and other debts owed to the Companies (collectively the “Accounts Receivable”) due or recorded in the books and records of account, of the Companies as of the Closing Date, are or shall be bona
fide receivables arising in the ordinary course of business (net of allowances for bad debt or doubtful receivables, as shall be reflected on the Closing Balance Sheet, in the ordinary course of business). Except to the extent of any allowance for
bad debt or doubtful receivables as reflected on the Preliminary Closing Balance Sheet as adjusted by the final and binding Closing Balance Sheet, no Accounts Receivable will, at the Closing Date, be subject to any valid counter-claim or set off.

  
 (c) All of the Companies’
accounts payable have arisen in bona fide arm’s length transactions in the ordinary course of business (except for accounts payable of the Companies which, both individually and in the aggregate, do not exceed $200,000) and, prior to the
Closing, the Companies have been paying their accounts payable in the ordinary course, consistent with past practice. 
  
 3.13 Taxes. 
  
 (a) All Taxes due and payable by the Companies have been paid in full. The liability for Taxes of the Companies reflected in the
Financial Statements will be sufficient in all respects to provide for all interest, penalties, assessments or deficiencies, if any, which, as of the date of such Financial Statements, were due and unpaid and the appropriate accrual for other unpaid
Taxes not yet due. The Companies have timely filed or had timely filed on their behalf all Tax Returns which they are required to have filed or proper extensions have been filed therefore and such returns are correct and complete in all material
respects, provided that this representation and warranty shall not be construed as a representation or warranty that any Tax attribute or return position reflected on a Tax Return may be relied upon by any Buyer Indemnified Party with respect to the
determination of any liability for Taxes to be reflected on any Tax Return filed after the Closing Date. Any deficiencies asserted in writing with respect to any Tax Returns as a result of any audit by a Governmental Body have been paid, settled or
are being contested or appealed, and except as provided on Schedule 3.13, none of the Companies has received any written notice of, nor do the Sellers know of, any present disputes as to Taxes payable by any of the Companies. There are no
unexpired waivers by any of the Companies of any statute of limitations with respect to any Taxes, and none of the Companies is a party to any action or proceedings by any Governmental Body for the collection or assessment of Taxes. The Companies
have complied with all Requirements of Laws relating to the payment and withholding of Taxes (including, without limitation, withholding of payroll and employment Taxes and Taxes pursuant to Sections 1441 and 1442 of the Code or similar provisions
under any foreign laws) and has, within the time and manner prescribed by applicable Requirements of Laws, withheld and paid over to the proper governmental authorities all amounts required to be withheld and paid. There are no Encumbrances for
Taxes upon the assets or properties of the Companies except for statutory Encumbrances for Taxes not yet due or payable or for Taxes being contested in good faith through appropriate proceedings (which proceedings are listed on Schedule
3.13(a)). None of the Companies has received any written notice of any Tax rulings, requests for rulings, or closing agreements relating to any of the Companies which could materially affect any of the Companies’ liability for Taxes for any
period after the Closing Date. 

  

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None of the Companies will be required to take into income for any period on or after the Closing Date any adjustment under Section 481 of the Code (or any
corresponding provision of state or local Tax law) as a result of any change of accounting method for a tax period beginning prior to the Closing Date or required by virtue of the transactions contemplated by this Agreement. 
  
 (b) Each of the Companies is not, nor has it been
since the later of (i) March 12, 1999 or (ii) the date such Subsidiary was, directly or indirectly, formed or acquired by the Company, a member of or included in any affiliated, consolidated, combined, or unitary group for purposes of filing Tax
Returns or paying Taxes at any time other than with the Company. The Companies do not have any liability for Taxes of any Person under Section 1.1502-6 of the U.S. income tax regulations or as a transferee of such Person or under any other provision
of law, and the Companies are a party to or bound by or have any obligation under any Tax sharing or similar agreement or arrangement. Schedule 3.13 sets forth all countries, states, provinces, cities, and other jurisdictions in which any of
the Companies (i) filed Tax Returns at any time during the period beginning from the later of (A) March 12, 1999 or (B) the date such Subsidiary was, directly or indirectly, formed or acquired by the Company, and (ii) has received written notice
during the period beginning from the later of (X) March 13, 1999 or (Y) the date such Subsidiary was, directly or indirectly, formed or acquired by the Company, that claims that any of the Companies is subject to any Tax. Parent is not a
“foreign person” within the meaning of Section 1445 of the Code and no withholding Tax will be payable pursuant to Section 1445 or other provision of the Code upon the consummation of the transactions contemplated hereby. The Companies
have not participated in or cooperated with an international boycott within the meaning of Section 999 of the Code. Each of the Companies has not received any written notice of any foreign income Tax rulings with respect to any of the Companies that
are material to the continuing operations of the Company. As a result of compliance with this Agreement, none of the Companies will be obligated to make a payment to an individual that would be a “parachute payment” to a “disqualified
individual” as those terms are defined in Section 280G of the Code (or any corresponding provision of state, local or foreign Tax law) without regard to whether such payment is to be made in the future. 
  
 (c) The Company has not and except as set forth on
Schedule 3.17, no Subsidiary (and any predecessor of any of the Companies, including any entity merged or liquidated into any of the Companies) has been a validly electing S corporation within the meanings of Sections 1361 and 1362 of the
Code since the later of (i) March 12, 1999 or (ii) the date such Subsidiary was directly or indirectly, formed or acquired by the Company. None of the Companies will be an S corporation as of the Closing Date. With respect to the United States and
all states which for any of the Companies are being treated as a partnership, all elections for such treatment required to have been made have been properly and validly made in the United States and each of such states, and such Companies have
maintained compliance at all times with all applicable qualifications and filing procedures for such treatment. 
  
 3.14 Listed Contracts. Schedule 3.14 sets forth a correct and complete list (copies of which have been made available and
delivered to Buyer) of every contract, agreement, personal property lease or commitment (including, without limitation, promissory notes, loan agreements, and other evidence of indebtedness, guarantees, agreements with distributors, 

  

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suppliers, dealers, franchisors and customers, and service agreements), to which any of the Companies is a party or by which any of the Companies is bound
pursuant to which obligations thereunder of either party thereto are, or are contemplated as being, (i) involving the receipt or payment by any of the Companies of an amount in excess of $100,000 following the Closing Date, (ii) such that the
termination or breach of such contract could have a Material Adverse Effect on the Company, or (iii) involving the lease by any of the Companies, as lessee or lessor, of any real property (each a “Listed Contract,” and collectively,
the “Listed Contracts”), correct and complete copies of which, or in the case of oral agreements, complete descriptions, previously have been made available. The Companies are neither in default, nor has any event occurred that,
with the giving of notice or the passage of time or both, would constitute a default by any of the Companies, under any Listed Contract and, to the Knowledge of the Company, no event has occurred that, with the giving of notice or the passage of
time, or both would constitute a default by any other party to any such Listed Contract; provided, however, any defaults, by either one of the Companies or any third party, that could not result individually or in the aggregate in a Material Adverse
Effect are excluded from the scope of this representation. Except as set forth on Schedule 3.14 and except as shall not individually or in the aggregate have a Material Adverse Effect, each of the Listed Contracts is in full force and effect,
is valid and enforceable in accordance with its terms and is not subject to any claims, charges, set-offs or defenses. Immediately following the completion of the transactions contemplated herein and except as shall not have a Material Adverse
Effect, each of the Listed Contracts (other than the Company Credit Agreement and the Company Dealer Agreements unless all consents have been obtained) shall continue to be in full force and effect, be valid, binding and enforceable in accordance
with their terms and not be subject to any claims, charges, set-offs or defenses as a result of the occurrence of the transactions contemplated herein provided that all required notices are given and consents are obtained as set forth on Schedule
3.9. Schedule 3.14 also separately sets forth an accurate and complete list of the thirty (30) largest (in dollars payable to the Company and its Subsidiaries, taken as a whole) contracts, agreements or commitments, both oral and written,
to which any of the Companies are a party or by which any of the Companies is bound or obligated to provide maintenance or service on photocopiers, facsimile machines or any other electronic, digital or automated office equipment (the
“Service Contracts”). Except as expressly set forth on Schedule 3.14, each of the Companies have renewed and billed all expired but uncanceled Service Contracts and has no Knowledge that any customer will not continue to pay
and perform such customer’s obligations under any Service Contract. Except as specifically stated on Schedule 3.14, no Service Contract has a term expiring more than one year after the Closing Date or that is not cancelable without
penalty within one (1) year. 
  
 3.15 Owned Real
Property. The Companies do not currently own any interest in real property, and except as set forth on Exhibit 3.15, the Company has not owned any interest in real property since its inception and the Company’s Subsidiaries have
not owned any interest in real property from the later of the date that (i) was four years prior to the Closing Date or (ii) such Subsidiaries were, directly or indirectly, formed or acquired by the Company. 
  
 3.16 Leased Real Property. Each of the Companies has
valid leasehold interests in all of the real property which it holds under the leases described in Schedule 3.16 (collectively, the “Leased Real Property”), in each case free and clear of all Encumbrances, except for
Permitted Exceptions. Following completion of the transactions contemplated herein, 

  

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each of the Companies shall continue to have valid leasehold interests in all of the real property which it holds under the leases described in Schedule
3.16, in each case free and clear of all Encumbrances except Permitted Exceptions assuming receipt of all required consents and after assuming that that all required notices, if any, are given as provided in Section 3.9. The Leased Real
Property constitutes all real properties used or occupied by the Companies. With respect to the Leased Real Property: (a) each of the Companies has all easements and rights necessary to conduct the Business; (b) no portion thereof is subject to any
pending, or to the Knowledge of the Company any threatened, condemnation proceeding or other proceeding by any public authority; (c) to the Company’s Knowledge, the Buildings, plants and structures, including heating, ventilation and air
conditioning systems, roof, foundation and floors, are in good operating condition and reasonable repair, subject only to ordinary wear and tear; (d) the Buildings, plants and structures are not, and the operation of the Business at the Leased Real
Property is not, in violation of any zoning or other Requirements of Laws (including, without limitation, obtaining all approvals of any Governmental Body, including Governmental Permits, required in the operation thereof), except for such
violations as do not and shall not, individually or in the aggregate, result in a Material Adverse Effect; (e) there are no leases, subleases, licenses, concessions or other agreements, written or oral, granting to any party or parties the right of
use or occupancy of any portion of any parcel of Leased Real Property; and (f) the Leased Real Property is supplied with utilities and other services for the operation of such facilities as conducted by the Companies. 
  
 3.17 Personal Property. Schedule 3.17(a) sets forth a
true and complete list of all fixed, tangible assets owned or leased by, in the possession of, or used by the Companies in connection with the Business and having, individually, or in the aggregate with all other similar items, a value in excess of
$25,000. Each of the Companies has good and valid title to, or a valid leasehold interest in, or valid license to, all fixed assets and other tangible personal properties used by the Companies in connection with the Business, reflected on the
Financial Statements and each item listed on Schedule 3.17(a), in each case, free and clear of any Encumbrances, other than Permitted Exceptions, including Encumbrances in favor of the Company Bank Agent for the benefit of the Company
Lenders, which shall be released upon payment of all obligations owed to the Company Lenders at the Closing. The property listed on Schedule 3.17(a) constitutes all tangible (individually, or in the aggregate, having a value in excess of
$25,000) personal property, rights and assets necessary for the conduct of the Business as now conducted. Such personal property is in good condition and repair, subject only to ordinary wear and tear. Except as set forth in Schedule 3.17(a),
none of the personal property listed on Schedule 3.17(a) is held under any lease, security agreement or conditional sales contract. 
  
 3.18 Litigation. Except as set forth in Schedule 3.18, there is no suit, action, proceeding, investigation, claim or order pending
or, to the Knowledge of the Company, threatened in writing against or affecting any of the Companies or any of their properties or assets, in law or equity (or, to the Knowledge of the Company, pending or threatened in writing against any of the
officers, directors or key employees of the Companies with respect to any of the Business or any proposed business activity of the Companies), or to which any of the Companies is otherwise a party (including product liability claims), before any
court, any municipality or any other Governmental Body, nor, to the Knowledge of the Company, do they reasonably anticipate any material action, proceeding or investigation within one year following 

  

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the date hereof. Except as specifically listed thereon, none of the litigation listed on Schedule 3.18, if adversely determined, could, individually
or in the aggregate, reasonably be expected to result in a Material Adverse Effect. Except as set forth on Schedule 3.18, none of the Companies is subject to any Court Order, stipulation or consent of any court or Governmental Body. Except as
set forth on Schedule 3.18, none of the Companies is engaged in any legal action involving more than $150,000 to recover monies due it or for damages sustained by it in connection with the Business. 
  
 3.19 Intellectual Property. Schedule 3.19 contains a
complete and correct list of all registered and significant unregistered patents, trademarks and service marks (whether or not registered), tradenames, material copyrights (whether or not registered), licenses, computer software or data (other than
off-the-shelf commercial software programs which individually cost under $15,000 or $40,000 in the aggregate), domain name registrations, and registrations or applications for registration of any of the aforementioned rights together with applicable
registration and application numbers, owned by or registered in the name of the any of the Companies or in which any of the Companies has any rights, licenses, or immunities (collectively, the “Intellectual Property”). Schedule
3.19 also contains a complete and correct list of all material licenses granted by any of the Companies to any third party with respect to any of the Intellectual Property and licenses granted by any third party to any of the Companies (other
than licensed for off-the-shelf commercial software programs which individually cost under $15,000 or $40,000 in the aggregate). Except as set forth on Schedule 3.19, (a) each of the Companies owns and possesses all right, title and interest
in and to, or has a valid license to use, and following completion of the transactions contemplated herein, each of the Companies will own or have a valid license to use, all of the Intellectual Property necessary for the operation of the Business
as presently conducted and none of such Intellectual Property has been abandoned except in the ordinary course of the Business consistent with past practice; (b) no claim by any third party in writing contesting the validity, enforceability, use or
ownership of any such Intellectual Property has been made within the past three years, is currently outstanding or is, to the Knowledge of the Company, threatened; (c) neither the Companies nor the Sellers nor any registered agent of the Companies
has received any written notices within the last two years of an allegation of any infringement or misappropriation by, or conflict with, any third party with respect to such Intellectual Property; (d) neither the Companies nor any Seller has
received within the past two years any written claims of infringement, or misappropriation, of any intellectual property rights of any third party; and (e) none of the Companies has infringed, misappropriated or otherwise violated any intellectual
property rights of any third parties, except for such violations as shall not result in an economic loss to the Company in excess of $50,000 per occurrence or $150,000 in the aggregate, and the Company has no Knowledge of any infringement,
misappropriation or conflict which will occur as a result of the continued operation of the Business as presently conducted. 
  
 3.20 Names. Schedule 3.20 sets forth a list of each name in which any of the Companies or any of its predecessors in interest has
done business in the United States from the date that is the later of the date (i) that was five years prior to the Closing Date or (ii) such Subsidiaries were directly or indirectly formed or acquired by the Company. 
  

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 3.21 Conduct of Business. 
  
 (a) Conduct of Ordinary Course. Except as set forth on Schedule 3.21, since December
31, 2003, the Companies have each conducted the Business only in the ordinary course of business consistent with past custom and practice, and have incurred no liabilities other than in the ordinary course of business consistent with past custom and
practice, and nothing has had a Material Adverse Effect on the assets, condition (financial or otherwise), operating results, employee or customer relations or business activities of the Companies (other than any facts or circumstances that relate
primarily to (1) economic conditions in general and (2) the economic performance of the entire industry in which the Company is engaged). Without limiting the foregoing and except as set forth on Schedule 3.21 or as expressly contemplated by
this Agreement, since December 31, 2003, none of the Companies has: 
  
 (i) sold, assigned or transferred any material tangible asset (other than inventory in the ordinary course of business consistent with past practices) or property right used in the Business, or mortgaged,
pledged or subjected them to any Encumbrance, except for Permitted Exceptions; 
  
 (ii) sold, assigned, transferred, abandoned or permitted to lapse any Governmental Permits that, individually or in the aggregate,
are material to the Business or the operation of the Companies, or any of the material Intellectual Property or other Material intangible assets, or disclosed any material proprietary confidential information to any person, or granted any license or
sublicense of any rights under or with respect to any material Intellectual Property or other material intangible assets other than in the ordinary course of business; 
  
 (iii) except as required by any applicable employment agreement or other than in the ordinary course
of business consistent with the Companies’ past practices or as required by applicable law, made or granted any increase in, or amended or terminated, any existing plan, program, policy or arrangement, including any Employee Benefit Plan or
arrangement or adopted any new Employee Benefit Plan or arrangement, or entered into any new collective bargaining agreement or multi-employer plan; 
  
 (iv) conducted the cash management customs and practices (including the timing of collection of receivables and payment of payables
and other current liabilities) and maintained the books and records of the Companies other than in the usual and ordinary course of business consistent with past custom and practice; 
  
 (v) changed any accounting principles, methods or practices utilized by it or changed any of its
depreciation or amortization policies or rates in any material respect; 
  
 (vi) made any loans or advances to, or, except as disclosed on Schedule 3.33, entered into any transaction with any stockholder, employee, officer or director of any of the Companies (other than advances
to the 

  

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Companies’ employees in the ordinary course of business, none of which are in excess of $10,000 individually); 
  
 (vii) suffered any loss, damage, destruction or
casualty loss in excess of $1,000,000 in the aggregate or waived any rights of material value, whether or not covered by insurance and whether or not in the ordinary course of business; 
  
 (viii) received written notification that any material customer or supplier will stop or decrease in
any material respect the rate of business done with the Companies; 
  
 (ix) declared, set aside or paid any dividend or distribution of cash or other property to any stockholder of the Company or purchased, redeemed or otherwise acquired any shares of the Company’s capital
stock or any Subsidiary’s capital stock or interests; 
  
 (x) amended or authorized the amendment of the Organizational Documents or Governing Documents of any of the Companies; 
  

(xi) paid or made a commitment to pay any severance or termination payment to any employee or consultant of any of the Companies
in excess of $50,000 individually or $150,000 in the aggregate; 
  
 (xii) made any capital expenditures, including, without limitation, replacements of equipment in the ordinary course of business, or entered into commitments therefor, except for capital expenditures or
commitments therefor which do not, in the aggregate, exceed $75,000; 
  
 (xiii) made any equity or debt investment or commitment therefor in any Person in excess of $25,000, individually or in the aggregate; 
  
 (xiv) made any payment or contracted for the payment of any bonus or other compensation or personal
expenses, other than (1) such amounts paid in the ordinary course of business consistent with past practice or in accordance with the Companies’ bonus plans set forth on Schedule 3.29, and (2) wage, salary and bonus adjustments made in
the ordinary course of business consistent with past practice for employees who are not officers, directors or stockholders of any of the Companies; 
  
 (xv) except as required by any applicable existing employment agreement, made, amended, or entered into any written employment
contract for employees with compensation in excess of $100,000 within the past year, or created or made any material change in any bonus, stock option, pension, retirement, profit sharing or other employee benefit plan or arrangement; or 

 
 (xvi) committed to do any of the foregoing.

  

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 (b) No Illegal Payments. None of the Companies has at any time made or
committed to make any illegal payments for political contributions or made any bribes, kickback payments or other illegal payments. 
  
 3.22 Insurance Policies. Schedule 3.22 sets forth a correct and complete list and description, including policy numbers, of all
material insurance policies owned by the Companies, correct and complete copies of which policies have previously been made available to Buyer. Each of the insurance policies listed in Schedule 3.22 are in full force and effect, and each will
remain so immediately following the Closing. None of the Companies is in default under any of the insurance policies listed in Schedule 3.22. None of the Companies has received any written notice of cancellation or intent to cancel or
increase or intent to increase premiums with respect to such insurance policies. Schedule 3.22 also contains a list of all pending claims by the Company with any insurance company and any instances within the previous two (2) years and by the
Company’s Subsidiaries with any insurance company and any instances since the later of (i) the date two (2) years prior to the date hereof or (ii) the date on which such Subsidiaries were formed or acquired, directly or indirectly, by the
Company, of a denial of coverage of any of the Companies by any insurance company. 
  
 3.23 Bank Accounts. Schedule 3.23 sets forth a complete and correct list of each financial institution in which any of the Companies has any account, lock box or safe deposit box with Cash or
securities in excess of $50,000, the number of each such account or box and the names of all persons authorized to draw thereon or to have access thereto. 
  
 3.24 Licenses and Permits. Each of the Companies holds all Governmental Permits necessary for the current conduct, ownership, use, occupancy
or operation of the Business, which are identified on Schedule 3.24, except where the failure to hold such Governmental Permits would not have a Material Adverse Effect. Each of the Companies has complied within the past two (2) years, and is
in full and complete compliance with, in all material respects, the terms and conditions of all such Governmental Permits, all of which are in full force and effect, and neither the Companies nor the Sellers have received any written notices to the
contrary. 
  
 3.25 Employee Benefit Plans.

  
 (a) Employee Benefit Plan
Liabilities. Except as described in Schedule 3.25, neither the Companies nor any current or former Plan Affiliate maintains, sponsors, contributes to or is obligated to make contributions to, or has or could have any liability with
respect to, any written or oral “Employee Pension Benefit Plan” (as defined in Section 3(2) of ERISA), “Employee Welfare Benefit Plan” (as defined in Section 3(1) of ERISA), “Multi-employer Plan” (as defined in Section
3(37) of ERISA), plan of deferred compensation (whether qualified or non-qualified), medical plan, life insurance plan, short or long term disability plan, dental, vision or prescription drug plan, material employee or former employee personnel
policy (including vacation time, holiday pay, bonus programs, moving expense reimbursement programs, severance and sick leave), excess supplemental benefit plan, bonus or incentive plan (including stock options, restricted stock, stock bonus and
deferred bonus plans), salary reduction agreement, change of control agreement, employment agreement, 

  

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consulting agreement or any other material benefit program, policy, arrangement or agreement (collectively, “Employee Benefit Plans”),
whether or not terminated or maintained pursuant to a collective bargaining agreement or otherwise, which could give rise to or result in any of the Companies having any liability. 
  
 (b) Delivery of Employee Benefit Plans. Sellers have delivered to Buyer (i) with respect to
each written Employee Benefit Plan a complete and accurate copy of: each such Employee Benefit Plan, each Form 5500 Annual Report, if applicable, for the three (3) most recent years, each material letter, ruling or notice issued by a governmental
entity or agency to each such plan, each funding vehicle, if any, and the current summary plan description and summary of material modification and/or descriptive summary with respect to each such plan, if applicable and (ii) with respect to each
unwritten Employee Benefit Plan, a description of the material terms of each unwritten Employee Benefit Plan maintained by, sponsored by or contributed to by any of the Companies as of the Closing Date. 
  
 (c) Compliance. Except as set forth on
Schedule 3.25, each Employee Benefit Plan (i) has been and currently complies in form and in operation in all material respects with all applicable requirements of ERISA and the Code, all other Requirements of Laws and its terms; (ii) has
been and is operated in compliance with applicable Requirements of Laws in such a manner as to qualify, where appropriate, for both federal and state purposes, for income tax deferral to its participants, income tax exemption for any related funding
vehicle, either currently or in the future, and the allowance of deductions and credits with respect to contributions thereto; and (iii) where appropriate, has received or has timely applied for a favorable determination letter from the IRS. With
respect to each Employee Benefit Plan, no prohibited transactions (as defined in Section 406 or 407 of ERISA or Section 4975 of the Code) have occurred for which an exemption is not specifically available which would reasonably be expected to result
individually or in the aggregate in a Material Adverse Effect. 
  
 (d) No Claims. Except as set forth on Schedule 3.25 or as would reasonably not be expected to result individually or in the aggregate in a Material Adverse Effect, with respect to each Employee
Benefit Plan, there are no suits, actions, proceedings, investigations, claims or orders pending or, to the Knowledge of the Company, threatened with respect to the assets thereof (other than routine claims for benefits), and, to the Knowledge of
the Company, there are no facts that could reasonably be expected to give rise to any liability, suit, action, proceeding or claim against any Employee Benefit Plan, any fiduciary or plan administrator or other person dealing with any Employee
Benefit Plan or the assets of such plan. 
  
 (e) No Unfunded Liability. Except for the amounts set forth on Schedule 3.25, all contributions, payments, premiums, expenses, reimbursements or accruals for all periods ending prior to or as of the Closing for each
Employee Benefit Plan shall have been made to the extent such amounts are required to have been made at the time of Closing by such Employee Benefit Plan or accrued on the Financial Statements (to the extent applicable as of the dates of such
Financial Statements) and the Preliminary Closing Balance Sheet to the extent required by GAAP, as appropriate, and no such plan otherwise has (and could not reasonably be expected to have) any unfunded liability in excess of $200,000 (including for
periods from the 

  

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first day of the current plan year to the Closing) which is not reflected on the Financial Statements or the Preliminary Closing Balance Sheet, as
appropriate. 
  
 (f) No Multi-employer
Plan, Pension Plan or Retiree Welfare Plan. Except as set forth on Schedule 3.25, neither the Companies nor any Plan Affiliate participates in, makes contributions to or has any other liability with respect to any Employee Benefit
Plan that (i) is or was a “multi-employer plan” as defined in Section 4001 of ERISA, a “multi-employer plan” as described in Section 3(37) of ERISA, a “multiple employer plan” within the meaning of Section 413(c) of the
Code or a “multiple employer welfare arrangement” within the meaning of Section 3(40) of ERISA, (ii) otherwise is or was an “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA) that is subject to
Title IV of ERISA, or (iii) provides medical, health, or life insurance for or on behalf of current or future retirees or former employees (except for limited continued medical benefit coverage required to be provided under Section 4980B of the Code
and Part 6 of Section 601 et. seq. of ERISA or under any related state Requirements of Laws). 
  
 3.26 Interest of the Company in Customers, Etc. Except as set forth in Schedule 3.26, neither the Companies nor, to the Knowledge of the Company, any of their respective Affiliates has any direct
or indirect material interest in any competitor, supplier or customer of the Companies or in any Person from whom or to whom the Companies leases any real or personal property or in any other Person with whom any of the Companies has a material
business relationship except for passive investments in publicly held companies constituting ownership of less than 1% of the total equity interests in such entities. 
  
 3.27 Health, Safety and Environmental. 
  
 (a) Compliance with Environmental and Safety Requirements. Except as set forth in Schedule
3.27, each of the Companies has complied with all Requirements of Laws relating to public health and safety, worker health and safety and pollution and protection of the environment on or prior to the date hereof (“Environmental and
Safety Requirements”), except where the failure to comply would not have a Material Adverse Effect. Each of the Companies possesses all required Governmental Permits, and has filed all notices or applications, required thereby, except for
such failure to so possess or file would not reasonably be expected to individually or in the aggregate have a Material Adverse Effect. 
  
 (b) No Hazardous Wastes. Except as set forth in Schedule 3.27, to the Company’s Knowledge, none of the Companies
has ever generated, transported, treated, stored, or disposed of any Hazardous Wastes at any site, location or facility and no such Hazardous Wastes are present on, in or under the Leased Real Property, in either case so as to give rise to any
material liability or obligation under Environmental Laws. 
  
 (c) No Actions or Proceedings. Except as set forth on Schedule 3.27, from the later of the date that (i) was four years prior to the Closing Date or (ii) such Subsidiaries were, directly or
indirectly, formed or acquired by the Company, none of the Companies has ever been subject to, or received any written notice of any private, administrative or judicial action, or any written notice of any intended private, administrative, or
judicial action 

  

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relating to the presence or alleged presence of Hazardous Wastes in, under or upon any of the Leased Real Property, which would reasonably be expected to
give rise to a material liability of the Company, and other than as set forth on Schedule 3.27, to the Company’s Knowledge, there is no reasonable basis for any such notice or action; and there are no pending or, to the Company’s
Knowledge, threatened actions or proceedings (or notices of potential actions or proceedings) from any Governmental Body or any other entity with applicable jurisdiction regarding any matter relating to health, safety or protection of the
environment against or involving the Companies or the Business which matter would reasonably be expected to individually or in the aggregate have a Material Adverse Effect. 
  
 (d) Other Condition. To the Company’s Knowledge, no facts, events or conditions with
respect to the past or present operations or facilities of the Companies or the Business exist which could reasonably be expected to interfere in any material respect with or prevent continued compliance with, or could reasonably be expected to give
rise to any common law or statutory liability or otherwise form the reasonable basis of any claim, action, suit, proceeding or hearing against or involving the Companies or the Business under any Environmental and Safety Requirement based on any
such fact, event or circumstance, including liability for cleanup costs, personal injury or property damage in each of the foregoing cases except for such matters which would not reasonably be expected to individually or in the aggregate, have a
Material Adverse Effect. 
  
 3.28 Salaries.
Schedule 3.28 is a true, complete and correct list setting forth (i) the names and compensation rate (wages and bonus) of all individuals presently employed by the Companies, on a salaried basis, as of December 31, 2003, (ii) the names,
compensation rate and annual bonus of all individuals presently employed by the Companies, on an hourly or piecework basis, as of December 31, 2003 and (iii) the names and total annual compensation for all independent contractors who render services
on a regular basis to the Companies, in each of case (i), (ii) and (iii) whose annual compensation from any of the Companies for the year ended December 31, 2003 was in excess of $100,000. Except as set forth in Schedule 3.28, no person
listed thereon has received any bonus or increase in compensation since December 31, 2003 and, except as set forth on Schedule 3.28, other than in the ordinary course of business, there has been no “general increase” in the
compensation or rate of compensation payable to any employees of the Companies since December 31, 2003 nor since that date has there been any promise to the employees listed on Schedule 3.28 orally or in writing of any bonus or increase in
compensation, whether or not legally binding, except as set forth on Schedule 3.28. 
  
 3.29 Personnel Agreements, Plans and Arrangements. Except as listed in Schedules 3.25, 3.28 and 3.29, and except for obligations, if any, to at-will employees, none of the Companies is a
party to or obligated in connection with the Business with respect to any (a) outstanding written or oral bonus plans or employment or consulting agreements other than for at-will employees, or (b) collective bargaining agreements or contracts with
any labor union or other representative of employees, correct and complete copies of which previously have been furnished to Buyer. Except as set forth on Schedule 3.29, to the Knowledge of the Company, no union organizational activity has
occurred and no strike, allegation, charge or complaint of employment discrimination or other similar occurrence has occurred or is pending or to the Knowledge of the Company threatened in writing against any of the Companies. There are no 

  

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written administrative charges or court complaints pending or to the Knowledge of the Company threatened in writing against any of the Companies before the
U.S. Equal Employment Opportunity Commission or any other Governmental Body concerning alleged employment discrimination or any other matters relating to the employment of labor, except for such matters as are referred to on Schedule 3.29
hereof. 
  
 3.30 Workers’ Compensation
Claims. Schedule 3.30 sets forth all expenses relating to any workers compensation claims in excess of $25,000 asserted against any of the Companies by employees and former employees (including dependents and spouses) of any of
the Companies (or predecessors) made since the later of (i) inception and (ii) the date such Subsidiaries were, directly or indirectly, formed or acquired by the Company. To the Knowledge of the Company, except as set forth on Schedule 3.30,
no claim has been threatened by any employee or former employee (including any dependent or spouse) of the Companies or Plan Affiliates under any workers’ compensation laws, regulations, requirements or programs not covered by the
Companies’ insurance policies. 
  
 3.31
Suppliers. Schedule 3.31 sets forth a complete and correct list of the ten (10) largest suppliers (in terms of the dollar volume of the Companies’ purchases from such suppliers during the fiscal year ended December 31, 2003)
to the Companies of key materials and services and commodities, exclusive of utility services. Since December 31, 2002, no supplier listed on Schedule 3.31 has canceled or otherwise terminated, or threatened in writing to cancel or terminate,
its relationship with any of the Companies. None of the Companies has received any written notice, nor does the Company have any Knowledge, that any supplier listed on Schedule 3.31 or other material supplier intends to cancel or otherwise
materially and adversely modify its relationship with any of the Companies. 
  
 3.32 Customers. Schedule 3.32 (to be provided at least fifteen days prior to the Closing Date) separately lists, for each operating business of the Company, the five (5) largest customers in terms
of (1) equipment sales revenues and (2) service and supplies sales revenues of the Companies (in terms of dollar volume of the Companies’ sales made to such customers during the fiscal year ended December 31, 2003). No customers listed on
Schedule 3.32 have canceled or otherwise terminated, or threatened in writing to cancel or terminate, its relationship with any of the Companies. Except as set forth on Schedule 3.32, none of the Companies has received any written
notice, nor does the Company have any Knowledge, that any existing customer or group of related customers accounting for two percent (2.00%) or more of the Companies’ total revenues in the fiscal year ended December 31, 2003 intends to cancel,
materially reduce volume of purchases or otherwise materially and adversely modify its relationship with the Companies. 
  
 3.33 Affiliate Transactions. Schedule 3.33 sets forth an accurate and complete description of every Affiliate Transaction since
January 1, 2000 and any existing commitments of any of the Companies to engage in the future in any Affiliate Transactions. 
  
 3.34 Accountant Letters. Except as set forth on Schedule 3.34, within the last five (5) fiscal years the Company has not received any
correspondence from its accountants, including management letters, which have indicated or disclosed that there is a “material 

  

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weakness” in or “reportable condition” (as those terms are defined by GAAP) with respect to the Company’s financial condition.

  
 3.35 No Misrepresentation. None of the
representations or warranties of the Companies and the Sellers set forth in this Agreement contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements or information contained herein or therein
in light of the circumstances in which they were made, not misleading in any material respect. 
  
 3.36 Certain Business Practices. Except as set forth on Schedule 3.36, the Companies do not have any outstanding loans or other advances directly or indirectly to or from any officer, director,
employee or stockholder of any of the Companies or any entity in which any of the Companies has a direct or indirect interest, other than business advances in the usual and ordinary course of business. Schedule 3.36 lists any officer or other
key employee of the Companies who terminated employment with the Companies since the later of December 31, 2002 or the date such Subsidiary of the Company was directly or indirectly formed or acquired by the Company. Except as set forth on
Schedule 3.36, the Company has no Knowledge that any key employee is considering termination of employment. 
  
 3.37 Brokers. Except to the extent included on the final and binding Closing Balance Sheet as Sellers’ Closing Costs, neither the
Sellers nor the Companies (nor any Member) have engaged or caused to be incurred any liability to any finder, broker or sales agent in connection with the origin, negotiation, execution, delivery, or performance of this Agreement or the transactions
contemplated hereby for which the Companies or Buyer could be liable. 
  
 3.38 Warranties. Except as set forth on Schedule 3.38 and except for warranty claims that are in the ordinary course of business, no written claim for breach of product or service warranty that is made by any of
the Companies in addition to any manufacturer’s warranty to any customer has been made against any of the Companies since the later of (i) January 1, 2002 or (ii) the date such Subsidiaries were, directly or indirectly, formed or acquired by
the Company. Except for warranty and service claims in the ordinary course of the Business, to the Knowledge of the Company, no state of facts exists, and no event has occurred, which would reasonably be expected to form the basis of any present
claim against any of the Companies for liability on account of any express or implied warranty to any third party in connection with products sold or services rendered by the Companies, except for warranty claims which would not individually, or in
the aggregate, reasonably be expected to exceed $200,000. 
  
 3.39 Information Furnished. The Company and the Sellers have made available or will make available within a reasonable time prior to Closing to Buyer and its representatives true and correct copies of all corporate records of
the Companies and all agreements, documents and other items listed on the Disclosure Schedules to this Agreement or referred to in this Agreement and the Transaction Documents. 
  

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 ARTICLE IV 
 GLOBAL AND BUYER’S REPRESENTATIONS AND WARRANTIES 
  
 Global and Buyer each jointly and severally represent and warrant to the Sellers as follows: 
  
 4.1 Due Organization. Buyer is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware.
Buyer has all requisite corporate power and authority to carry on its business in all material respects as it is now being conducted and to own or hold under lease the properties and assets it now owns or holds under lease. Global is a corporation
duly organized, validly existing, and in good standing under the laws of the State of Delaware. Global has all requisite corporate power and authority to carry on its business in all material respects as it is now being conducted and to own or hold
under lease the properties and assets it now owns or holds under lease. 
  
 4.2 Due Authorization. Global and Buyer each have all requisite power, right and authority to enter into and perform their respective obligations under this Agreement and each of the Transaction Documents to which they are a
party. The execution, delivery, and performance of this Agreement, the Transaction Documents and the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary corporate action of Global and Buyer. This
Agreement and each of the Transaction Documents to which Global and Buyer is a party has been duly executed and delivered by Global and Buyer and constitute the valid and binding obligations of Global and Buyer and are enforceable against Global and
Buyer in accordance with their respective terms, except to the extent that the enforcement of this Agreement and/or any of the Transaction Documents may be limited by the application of federal or state laws (including common law) relating to
insolvency, bankruptcy, receivership, creditors’ rights, moratorium, general equitable principles, or public policy. Except as set forth on Schedule 4.2, no Governmental Permits, authorizations, exemptions, approvals, consents or other
actions of or notifications to (i) any court or administrative Governmental Body, (ii) any material Requirements of Laws or (iii) any other Persons other than the Global Lenders are necessary in connection with the execution, delivery and
performance by Global and Buyer of this Agreement and the Transaction Documents and the consummation by Global and Buyer of the transactions contemplated hereby and thereby. 
  
 4.3 No Brokers. Neither Global nor Buyer has engaged or caused to be incurred any liability to any finder,
broker or sales agent in connection with the origin, negotiation, execution, delivery, or performance of this Agreement or the transactions contemplated hereby for which the Parent, any of the Companies, or any Member, including any of the Sellers
could be liable. 
  
 4.4 Investment. 
  
 (a) Buyer is acquiring the Shares pursuant to this
Agreement for its own account and not with a view to, or intention of, distribution thereof in violation of the Securities Act. 
  
 (b) Buyer is an Accredited Investor. 
  

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 (c) Global and Buyer have sufficient investment knowledge and experience of the
Business and companies similar in size and development stage as the Company to enable Global and Buyer to evaluate the risks and merits of its investment in the Company, and Global and Buyer is able financially to bear the risks thereof. Global and
Buyer are sophisticated investors for purposes of applicable foreign and U.S. federal and state securities laws and regulations and are able to evaluate the risks and benefits of the investment in the Shares. 
  
 (d) Global and Buyer are able to bear the economic
risk of its investment in the Shares for an indefinite period of time. Global and Buyer understand that the Shares have not been registered under the Securities Act by reason of their issuance in a transaction exempt from the registration
requirements of the Securities Act pursuant to Section 4(2) thereof or Rule 506 promulgated under the Securities Act, and that the Sellers’ reliance on such exemption is predicated on Global’s and Buyer’s representations set forth
herein. 
  
 (e) Global and Buyer have had
an opportunity to ask questions and receive answers concerning the terms and conditions of the offering of the Shares and have had full access to such other information concerning the Company as Global and Buyer have requested. Global and Buyer
acknowledge that the Parent has provided or made available to Global and Buyer adequate disclosure materials related to the Company for purposes of their investment in the Shares. 
  
 4.5 Financing. Subject to the restrictions and conditions of the Global Lenders under the underwriting
agreement attached hereto as Exhibit I with respect to the Global Credit Agreement, Global and/or Buyer have or will have as of the Closing sufficient funds available to pay the Purchase Price and all contemplated fees, expenses and other
amounts related to the transactions contemplated by this Agreement payable by Global or Buyer. Global has obtained a customary underwriting agreement from the Global Lenders to provide sufficient financing for the transaction, a copy of which has
been attached hereto as Exhibit I. 
  
 4.6
Litigation. There is no action, suit, proceeding or investigation pending or, to the knowledge of Global and Buyer, threatened against Global and Buyer or any of their Affiliates which seeks rescission of, seeks to enjoin, or would
otherwise reasonably be expected to have a material adverse effect on Global or Buyer or the consummation of this Agreement or any of the transactions contemplated hereby. Neither Global nor Buyer is subject to any Court Order, stipulation or
consent of any court or Governmental Body that would reasonably be expected to have a material adverse effect on Global or Buyer or that would materially adversely affect their ability to consummate the transactions contemplated hereby. 

 
 4.7 Transaction Not a Breach. Except as set forth on
Schedule 4.7, neither the execution and delivery of this Agreement and the Transactions Documents by Global and Buyer, nor the performance by Global or Buyer of the transactions contemplated hereby or thereby will: 
  
 (a) violate or conflict with or result in a breach of
any provision of any material Requirements of Laws binding on Global or Buyer or their respective properties that 

  

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would have a material adverse effect on Global or Buyer or that would materially adversely affect their ability to consummate the transactions contemplated
hereby, or 
  
 (b) constitute a default
under the Certificate of Incorporation or By-Laws of Global or Buyer. 
  
 4.8 Operations of Buyer. Buyer is a direct, wholly-owned subsidiary of Global, was formed solely for the purpose of engaging in the transactions contemplated by this Agreement, has engaged in no other business activities and
has conducted its operations only as contemplated by this Agreement. 
  
 4.9 Issuance of Global Shares. The issuance and delivery of the Global Shares in accordance with this Agreement and the Equity Subscription Agreements contemplated hereby have been duly authorized by all necessary corporate
action on the part of Global, and the Global Shares when so issued and delivered in accordance with this Agreement will be duly and validly issued fully paid and non-assessable. Except as provided in this Agreement, there are no statutory or
contractual stockholders preemptive rights with respect to the issuance of the Global Shares. Assuming the accuracy of the Parent’s representations and warranties in the Equity Subscription Agreement, Global has not violated any applicable
federal or state securities laws in connection with the offer, sale or issuance of the Global Shares, and the offer, sale and issuance of the Global Shares hereunder do not require registration under the Securities Act or any applicable state
securities laws. 
  
 4.10 S-3 Eligibility. Global is
currently eligible to register secondary offerings of securities, including the resale of the Global Stock constituting the Stock Portion of the Purchase Price on a registration statement on Form S-3 under the Securities Act. 
  
 4.11 Resale Registration Statement. At or prior to the date
hereof, Buyer has delivered to the Parent a draft of the Resale Registration Statement (as defined in Section 6.6(a)) and Global intends to file the Resale Registration Statement pursuant to Section 6.6(a) in substantially the form
provided subject to any reasonable comments from the Parent pursuant to Section 6.6. 
  
 ARTICLE V 
 PRE-CLOSING COVENANTS 
  
 5.1 General. Each of the Parties will use its commercially reasonable efforts to take all action and to do all
things necessary, proper or advisable to consummate and make effective the transactions contemplated by this Agreement (including satisfying the closing conditions set forth in Article VII below). Without limiting the foregoing, Buyer shall
have used its commercially reasonable efforts to (i) obtain the release of the Sellers and any other member of the Parent, if applicable, from all personal guarantees, if any, with respect to the Companies; (ii) obtain the consent of all OEM’s
or other third parties under the Dealer Agreements to the transactions contemplated hereby; and (iii) satisfy all closing conditions and requirements of the Global Lenders under the Global Credit Agreement to provide financing for the transactions
contemplated hereby. 
  

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 5.2 Notices and Consents. The Parent will cause the Company to give any notices to third
parties, and will cause the Company to use its commercially reasonable efforts to obtain third-party consents, that the Buyer may reasonably request in connection with the transactions contemplated by this Agreement. Each of the Parties will take
any additional action to the extent commercially reasonable (and the Parent will cause the Company to take any additional action) that may be necessary, proper or advisable in connection with any other notices to, filings with, and authorizations,
consents, and approvals of Governmental Bodies, and third parties that it may be required to give, make or obtain. 
  
 5.3 Operation of Business. Except with the express written consent of the Buyer or the oral consent of any of Thomas Johnson, Todd Johnson
or Raymond Schilling, as contemplated hereby or as may be incidental to or in furtherance of the transactions contemplated hereby or as may have been set forth herein or in the Disclosure Schedules, the Sellers will cause the Companies to use
commercially reasonable efforts to not engage in any practice, take any action, embark on any course of inaction or enter into any transaction outside the ordinary course of the Business or that would constitute a breach of the representations and
warranties of the Company and Sellers contained in Article III of this Agreement other than a breach of the representations and warranties of the Company and Sellers which would not have a Material Adverse Effect. 
  
 5.4 Preservation of Business. Except with the express written
consent of Buyer or the oral consent of any of Thomas Johnson, Todd Johnson or Raymond Schilling, as contemplated hereby or as may be incidental to or in furtherance of the transactions contemplated hereby or as may have been set forth herein or in
the Disclosure Schedules, the Parent will cause the Companies to use their commercially reasonable efforts to keep their business and properties substantially intact, including their present operations, physical facilities, working conditions, and
relationships with lessors, licensors, suppliers, customers and employees to the extent in the ordinary course of business consistent with past practice. 
  
 5.5 Access. Only in the event that neither the Buyer nor the Parent exercised its right to terminate this Agreement as provided in
Article IX herein, the Company will permit representatives of the Buyer and Global to have reasonable access at reasonable times upon reasonable notice, and in a manner so as not to interfere with the normal business operations of the
Companies, to the headquarters and all other facilities of the Companies, to all books, records, contracts, Tax records and documents of or pertaining to the Companies and to all key employees, and key customers and suppliers of the Companies.
Parent shall proceed to arrange with the Company a mutually agreeable time and place at which the Buyer and Global may conduct interviews with key employees and/or key customers or suppliers of the Companies. Such interviews shall be in strict
conformity with the format mutually agreed to by the Parent and Buyer. Prior to the Closing Date, Buyer, Global and each of their respective agents and representatives shall (i) treat and hold as such all Confidential Information, (ii) refrain from
using any of the Confidential Information except in connection with this Agreement or otherwise for the benefit of the Company, and (iii) deliver promptly to the Parent or destroy, at the written request and option of the Parent, all tangible
embodiments (and all copies) of the Confidential Information which are in such Person’s possession, except as otherwise permitted herein. In the event that Buyer, Global or any of their respective agents or representatives is requested or

  

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required (by oral question or written request for information or documents in any legal proceeding, interrogatory, subpoena, civil investigative demand, or
similar legal proceeding) to disclose any Confidential Information, such Person will notify the Parent promptly of the request or requirement. Each of Buyer and Global acknowledge that the information provided to it and its agents and
representatives in connection with the transactions contemplated by this Agreement is subject to, and Buyer and Global shall, and shall cause their agents and representatives to, fully comply with the provisions of that certain Confidentiality
Agreement, dated January 16, 2004, between Global and the Company (the “Confidentiality Agreement”), the terms of which are incorporated herein by reference. The Sellers, the Parent and the Company also acknowledge that the
information provided to it and its agents and representatives on Global in connection with the transactions contemplated by this Agreement is subject to, and the Members, the Parent and the Company shall, and shall cause their agents and
representatives to fully comply with, the provisions of the Confidentiality Agreement. 
  
 5.6 Notice of Developments. The Sellers and the Company will give prompt written notice to the Buyer and Global of any material and adverse development affecting the assets, liabilities, business,
financial condition, operations, results of operations of the Company or, to the Company’s Knowledge of any material and adverse development affecting the future prospects of the Companies. Buyer and Global shall provide the Parent with notice
to their Knowledge of any material and adverse development affecting the future prospects of the Companies. Each Party will give prompt written notice to the others of any material development adversely affecting the ability of the Parties to
consummate the transactions contemplated by this Agreement. In addition, the Buyer and Global shall promptly notify the Sellers if the Buyer or Global obtains knowledge that the representations and warranties of the Parent in this Agreement are not
true and correct in all material respects. 
  
 5.7
Exclusivity. 
  
 (a) Prior to
the Closing, the Sellers and the Company will not (and the Sellers will not cause or (to the extent within such Seller’s ability and control) permit the Companies to) (i) solicit, initiate or encourage the submission of any proposal or offer
from any Person relating to any (A) liquidation, dissolution or recapitalization, (B) merger or consolidation, (C) acquisition or purchase of securities or assets or (D) similar transaction or business combination involving the Companies or (ii)
participate in any discussions or negotiations regarding, furnish any information with respect to, assist or participate in or facilitate in any other manner any effort or attempt by any Person to do or seek any of the foregoing. The Sellers will
promptly notify the Buyer immediately if any person makes any bona fide written proposal or offer with respect to any of the foregoing at any time prior to the Closing. 
  
 (b) Global and Buyer agree that, prior to the Closing, neither Global, Buyer nor any of their
respective Subsidiaries shall purchase, or enter into any definitive agreements for the purchase of, any business which would require a purchase price payable by Global and its Subsidiaries, in the aggregate, of more than $15,000,000 (by acquisition
of assets or stock, merger or otherwise) with any party other than Parent and Sellers with respect to the transactions contemplated by this Agreement. 
  

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 ARTICLE VI 
 POST-CLOSING COVENANTS 
  
 6.1 General. In case at any time after the Closing any further action is legally necessary or reasonably desirable (as determined by Buyer and the Sellers) to carry out the purposes of this Agreement, each of the Parties will
take such further action (including the execution and delivery of such further instruments and documents) as any other party reasonably may request, all at the sole cost and expense of the requesting party (unless the requesting party is entitled to
indemnification therefor under Article VIII below). In addition, the Sellers, the Company, Buyer and Global shall take all further action as is legally necessary or reasonably desirable (at Sellers’ expense) to remove any and all liens
and obligations of the Companies as of the Closing Date, if any, to the Company Lenders. The Parent and Buyer acknowledge and agree that from and after the Closing, Buyer will be entitled to possession of all documents, books, records, agreements,
and financial data of any sort relating to the Companies, which shall be maintained at the chief executive office of the Company; provided, however, that the Parent and the Sellers shall be entitled to reasonable access to and to make copies
of such books and records at their sole cost and expense, and Buyer will maintain all of the same for a period of at least six (6) years after the Closing. The Parent and the Sellers will also extend reasonable cooperation and assistance to Global
after the Closing (at Global’s sole cost and expense) in preparing any financial statements of the Companies or securities reports required to be made by Global under the Securities Exchange Act of 1934, as amended, in connection with the
transactions contemplated by this Agreement. To the extent not obtained prior to the Closing, Buyer shall use its commercially reasonable efforts to obtain the release of the Sellers and any other member of the Parent, if applicable, from all
personal guarantees, if any, with respect to the Companies. 
  
 6.2 Transition. Each Seller agrees not to knowingly take any action that primarily is designed or intended to have the effect of discouraging any lessor, licensor, customer, supplier, officer, employee or other business
associate of the Companies from maintaining the same business relations with the Companies after the Closing as it maintained with any of the Companies prior to the Closing (including, without limitation, interfering in the Company’s business
operations). After the Closing, (i) each Seller agrees not to intentionally make to any customer, supplier, employee or business relation or affiliate of any of the Companies or the general public any statement that intentionally and materially
disparages Global or its Subsidiaries (including their respective officers, directors, stockholders and employees) and (ii) Global agrees not to, and shall cause its Subsidiaries not to, intentionally make to any customer, supplier, employee or
business relation or Affiliate of any of the Sellers or the general public any statement that intentionally and materially disparages any of the Sellers or their Affiliates (including their respective officers, directors, stockholders and
employees). 
  
 6.3 Confidentiality. Following the
Closing Date, except as otherwise permitted in this Agreement, each Seller agrees to (i) treat and hold as such all Confidential Information and (ii) refrain from using any of the Confidential Information except in connection with this Agreement,
including enforcement of its rights under the Transaction Documents, as an employee of the Company, or otherwise for the benefit of the Company, Buyer or their 

  

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respective affiliates; provided, however, that the Parent and the Sellers may disclose the basic terms of the transactions contemplated by this
Agreement to the equityholders of the Parent and its affiliates to the extent such information is customarily provided to such equityholders in the ordinary course of business. In the event that a Seller is requested or required (by oral question or
written request for information or documents in any legal proceeding, interrogatory, subpoena, civil investigative demand, or similar legal proceeding) to disclose any Confidential Information, such Seller will notify Buyer promptly of the request
or requirement. 
  
 6.4 Covenant Not to Compete.
Without any allocation of the Purchase Price paid to the Sellers by Buyer, each Seller (other than Allstate Insurance Company) covenants and agrees, for a period of three (3) years from and after the Closing Date, that he or it will not
intentionally, directly or indirectly without the prior written consent of Buyer, for himself or on behalf of any entity: 
  
 (a) become interested or engaged, as a stockholder, bondholder, creditor, officer, director, partner, agent, contractor with,
employer or representative of, or give financial, technical or other assistance to, any Person, firm or corporation, in each case primarily for the purpose of engaging in the Business in competition with any of the Companies within the greater of
(i) a 100 mile radius of any of the Companies’ current retail service locations, or (ii) in any geographic area in the States of California, Texas, Arizona, Washington and/or Oregon in which any of the Companies currently conducts business (the
“Current Trade Area”); 
  
 (b) enter into any agreement with, service, assist or solicit the business of any customers of the Companies, Global or any of their respective affiliates primarily for the purpose of providing retail office equipment sales or
service to such customers in competition with the Business in the Current Trade Area or to intentionally cause such customers to reduce or end their business with the Companies; or 
  
 (c) enter into any agreement with, or solicit the employment of, employees of the Companies for the
purpose of causing them to leave the employment of the Companies; 
  
 The
foregoing shall in no event limit or prevent any Seller from being the owner of less than five percent (5%) of the outstanding stock of any publicly-traded corporation. 
  
 6.5 Additional Tax Matters. 
  
 (a) Prior to the Closing Date, the Company shall engage Ernst & Young (or other accounting firm
of national standing reasonably acceptable to Buyer) to prepare all federal, state and local income Tax Returns with respect to all periods ending on or before the Effective Date (“Pre-Closing Tax Periods”) that have not been filed
as of the Closing Date. Such Tax Returns shall be prepared in a manner consistent with prior practice except as otherwise required by applicable law, and shall utilize accounting methods, elections and conventions that do not have the effect of
distorting the allocation of income or expense between Pre-Closing Tax Periods and periods ending after the Closing Date. The Company shall deliver a draft of any such Tax Return to Parent for Parent’s review and comment at least 15 days prior
to the due date for the filing of such Tax Return (or if earlier, 15 days prior to the filing date 

  

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thereof). Buyer, the Company and Parent shall cooperate to resolve any disagreement they may have regarding whether such Tax Return has been prepared in
accordance with the prior practice of the Company (or, where no past practice has been established for an item, whether such item has been reported in a manner better supported by applicable law than any other manner). The Parent’s consent
shall not be required for the Company to file the Tax Return (or for Buyer to cause the Tax Return to be filed) as Buyer deems appropriate, but if the Parent delivers a written statement to Buyer no more than 10 days after receiving a Tax Return for
review and comment, which written statement sets forth the Parent’s objections to the Tax Return as proposed to be filed by the Company and Buyer, the Parent and the Buyer shall (following the filing of such Tax Return as prepared (or as caused
to be prepared) by the Buyer) submit the dispute over the items specified in such written statement to the Independent Accountants. The Parent and the Buyer shall use their commercially reasonable efforts to cause the Independent Accountants to
resolve such disputed items as soon as practicable, subject to the standard that items for which a past practice has been established by the Company shall be determined in accordance with such past practice except as otherwise required by applicable
law and that all other items shall be determined in a manner better supported by applicable law than any other manner. If the Independent Accountants determines that one or more disputed items should have been determined (based on the standard set
forth in the immediately preceding sentence) in a manner different from the manner in which such item or items were reported on the Tax Return as actually filed, then the amount of Tax liabilities and Tax assets to be reflected in the Closing
Statement Review shall be determined with reference to the amounts that would have been reflected on such Tax Return had such Tax Return been prepared and filed in accordance with the Independent Accountants’ determination, as opposed to the
amounts reflected on such Tax Return as actually prepared and filed. The resolution of any dispute by the Independent Accountants pursuant to this Section 6.5(a) shall be final, binding and non-appealable on the parties hereto. The fees and expenses
of the Independent Accountants shall be shared 50% by Buyer and Global, jointly and severally, and 50% by Parent. The Company shall, and Buyer shall cause the Company, to pay all Taxes shown as due on any Tax Return filed pursuant to this Section
6.5(a). 
  
 (b) Buyer, the Parent and the
Sellers recognize that each of them will need access, from time to time, after the Closing Date, to certain accounting and Tax records and information held by Buyer and/or the Company to the extent such records and information pertain to events
occurring on or prior to the Closing Date; therefore, Buyer agrees to cause the Company to (A) use its commercially reasonable efforts to properly retain and maintain such records for a period of six (6) years from the date the Tax Returns for the
year in which the Closing occurs are filed or until the expiration of the statute of limitations with respect to such year, whichever is later, and (B) allow the Parent, the Sellers and their agents and representatives at times and dates mutually
acceptable to the parties, to reasonably inspect, review and make copies of such records from time to time, such activities to be conducted during normal business hours and at the Parent’s or Sellers’ expense, as appropriate with respect
to out-of-pocket expenses. 
  
 (c) If,
subsequent to the Closing, Buyer or the Companies receives notice of a Tax Contest with respect to any Tax Return for a periods or portions thereof beginning prior to the Closing Date that reasonably could be expect to have an adverse impact on

  

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the Parent’s indemnification obligations under this Agreement, then within thirty (30) days after receipt of such notice, Buyer shall notify the Parent
of such notice. Buyer shall have the right to control the conduct and resolution of any such Tax Contest, provided, however, that the Parent shall have the right to control the conduct and resolution of the portion of such Tax Contest that that
reasonably could be expect to have a Material Adverse Effect on the Parent’s indemnification obligations under this Agreement to the extent that such indemnification obligations would not be covered by the Escrow Sum, provided, however, that if
any of the issues raised in such Material Tax Contest could reasonably be expected to have a material impact on Taxes of the Companies for a Tax period or portion thereof beginning on or after the Closing Date (a “Post-Closing Tax
Period”), then the Parent shall afford Buyer the opportunity to control jointly the conduct and resolution of the portion of such Tax Contest with respect to such issues that could reasonably be expected to have a material impact on Taxes
of the Companies in any Post-Closing Tax Period. If Buyer shall have the right to control the conduct and resolution of any Tax Contest that reasonably could be expect to have an adverse impact on the Parent’s indemnification obligations under
this Agreement (whether because the Parent shall have the right to control the conduct and resolution of such Tax Contest but either elects in writing not to do so or otherwise fails to do so or otherwise), then Buyer shall keep the Parent informed
of all developments on a timely basis and Buyer shall not resolve such Tax Contest in a manner that could reasonably be expected to have an adverse impact on the Parent’s indemnification obligations under this Agreement without the
Parent’s written consent, which shall not be unreasonably withheld. If Buyer shall have the right to control the conduct and resolution of such Tax Contest but either elects in writing not to do so or otherwise fails to do so, then the Parent
shall have the right to control the conduct and resolution of such Tax Contest, provided that the Parent shall keep Buyer informed of all developments on a timely basis and the Parent shall not resolve such Tax Contest in a manner that could
reasonably be expected to have a material impact on Taxes of the Companies in any Post-Closing Tax Period without Buyer’s written consent, which shall not be unreasonably withheld. Each party shall bear its own costs for participating in such
Tax Contest. “Tax Contest” means any audit, other administrative proceeding or inquiry or judicial proceeding involving Taxes. 
  
 (d) No Tax Return of the Company filed with respect to periods ending before, or including, the Closing Date shall be amended after
the Closing Date if such amendment reasonably could be expected to have a material adverse impact on the Parent’s indemnification obligations under this Agreement without Parent’s consent, which consent shall not be unreasonably withheld.

  
 (e) Except to the extent included as
an asset in the Working Capital reflected on the Closing Balance Sheet or as provided in the next sentence below, all refunds of Taxes received by Buyer or the Companies, and all amounts credited against Taxes to which Buyer and the Companies become
entitled, with respect to Taxes paid by the Parent, the Sellers or the Company for periods (or portions thereof, determined in accordance with Section 6.5(b)) ending on or before the Closing Date shall be paid over to the Parent within ten (10)
Business Days of receipt or crediting by Buyer or the Companies thereof. The amount of any Tax refund or credit that may be payable to the Parent pursuant to the preceding sentence shall not include any portion of such refund or credit that is
attributable to any loss, credit, deduction, or other amount that arises in or is attributable to any period (or portion thereof) after the Closing Date, 

  

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nor shall Buyer or the Companies have any obligation to seek or take any action or position in order to create, increase, or obtain any refund or reduction
of the amount of Taxes paid by the Parent, the Sellers or the Companies for any period. 
  
 6.6 Agreement to Register Stock. 
  
 (a) (i) Within three (3) Business Days following the date hereof, Global shall prepare and file a registration statement on Form
S-3 (the “Resale Registration Statement”) under the Securities Act covering the resale of the Global Stock to be issued as the Stock Portion of the Purchase Price (and any shares of the capital stock of Global that may be issued
with respect to the Global Stock as a result of a reclassification, recapitalization, dividend, stock split or comparable event). Prior to the filing of the Resale Registration Statement, Global shall provide the Parent with a reasonable opportunity
to comment and shall use commercially reasonable efforts to incorporate any reasonable comments timely provided by the Parent in the Resale Registration Statement subject to any applicable Requirements of Laws. Global shall thereafter use its
reasonable best efforts to have such Resale Registration Statement declared effective by the Securities and Exchange Commission (“SEC”) as soon after the filing as practicable and in any event within thirty (30) days (assuming the
SEC informs Global that it will not review the Resale Registration Statement or the documents incorporated by reference therein) and to keep that Resale Registration Statement effective and current, including through the filing of any amendments and
supplements that may be required under provisions of applicable law, for one year after its original effectiveness or such shorter period of time during which all shares of Global Stock covered by the resale Registration Statement have been sold
thereunder. Global may not include other shares of Global’s Stock on the Resale Registration Statement. At Global’s option, Global may satisfy its obligations under this Section 5.1(a) on another form of registration statement under
the Securities Act to the extent Form S-3 is not then currently available to Global. 
  
 (ii) Global agrees to notify each holder of Global Stock registered on the Resale Registration Statement (i) when the Resale Registration
Statement (or any post-effective amendment thereto) has become effective, (ii) if the SEC has issued any stop order with respect to the Resale Registration Statement or initiated any proceedings for that purpose, and (iii) if Global has received any
written notification with respect to the suspension of qualification of any Global Stock for sale in any jurisdiction or any securities exchange or market or with respect to the initiation or threat of any proceeding for such purpose. Global shall
use commercially reasonable efforts to obtain the withdrawal, at the earliest practicable time (after any period described in Section 6.6(b)), of (i) any order suspending the effectiveness of the Resale Registration Statement, (ii) any order
preventing or suspending the use of a prospectus or (iii) any suspension of the qualification (or exemption from qualification) of any of the Global Stock for offer or sale in any jurisdiction, provided, however, that to obtain the
withdrawal of any suspension of the qualification (or exemption from qualification) of any of the Global Stock Global shall not be required to (x) qualify generally to do business in any jurisdiction where it is not then so qualified or (y) take any
action which would subject it to general service of process or to taxation in excess of a nominal amount in any jurisdiction where it is not then so subject. 
  

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 (iii) Upon the occurrence of any event that requires Global to make changes in the Resale
Registration Statement or the prospectus so that, as of such date, neither the Resale Registration Statement nor the related prospectus contains an untrue statement of a material fact nor omits to state a material fact required to be stated therein
or necessary to make the statements therein (in the case of the related prospectus, in light of the circumstances under which they were made) not misleading, Global shall, (subject to the periods permissible under Section 6.6(b)) promptly prepare
and file a post-effective amendment to the Resale Registration Statement or an amendment or supplement to the related prospectus, as the case may be, so that, as thereafter delivered to holders of Global Stock registered on the Resale Registration
Statement, the Resale Registration Statement and the related prospectus will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein (in the case
of the related prospectus, in light of the circumstances under which they were made) not misleading. 
  
 (iv) Global further agrees to furnish holders of Global Stock registered on the Resale Registration Statement such numbers of copies of a
prospectus, in conformity with the requirements of applicable law, any amendment or supplement to such prospectus, and such other documents as each such holder may reasonably request in order to facilitate the disposition of the Global Stock owned
by such holder. 
  
 (b) The Parent and the
Sellers shall not (and shall cause each holder of Global Stock registered on the Resale Registration Statement to not) effect any public sale or distribution (including sales pursuant to Rule 144 under the Securities Act) of Global Stock during any
one or more periods not to exceed 45 days in any three-month period and not to exceed, in the aggregate, 90 days in any 12-month period in which Global notifies such holders of Global Stock registered on the Resale Registration Statement not to
effect any public sale or distribution of such securities; provided, however, that such restriction may only be applied to the holders of such Global Stock if all other holders of Global Stock registered pursuant to a registration
statement covering the resale of Global Stock are restricted during such period from effecting any public sale or distribution of Global Stock. The Parent and the Sellers further expressly agree that they shall (and shall cause each holder of Global
Stock registered on the Resale Registration Statement to) maintain in confidence the fact of Global’s delivery of notice that no public shares or distributions shall be made. The Parent and the Sellers agree to comply with the provisions of the
Exchange Act of 1934, as amended, and the rules and regulations thereunder relating to stock manipulation, including Regulation M. 
  
 (c) At any time when a prospectus relating to the Resale Registration Statement is required to be delivered under applicable law,
Global will give notice to any holder of Global Stock registered on the Resale Registration Statement of the happening of any event as a result of which the prospectus included in such Resale Registration Statement, as then in effect, includes an
untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing. Any such holder shall cease using such
prospectus immediately upon receipt of notice from Global to that effect and shall maintain in confidence the fact of Global’s having delivered such notice until such time as Global has supplemented or amended the prospectus as described below.
At the request of such holder, Global shall prepare and 

  

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furnish to each holder a reasonable number of copies of a supplement to an amendment of such prospectus as may be necessary so that, as thereafter delivered
to the purchasers of such securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the
circumstances then existing. 
  
 (d) (i)
Global shall bear all costs incurred in preparing and filing the Resale Registration Statement including, without limitation, all applicable legal, accounting, printing, blue sky and SEC filing fees, provided, however, that Global shall not
be responsible for any underwriting commissions or discounts, brokerage fees or legal fees or disbursements incurred by any person or entity (other than Global) that sells any shares of Global Stock under the Resale Registration Statement. Global
shall also bear all costs of keeping the Resale Registration Statement current during the applicable period described in Section 6.6(a). 
  
 (ii) Global will indemnify and hold harmless each holder of Global Stock registered on the Resale Registration Statement against any
losses, claims, damages or liabilities to which such holder may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities arise out of or are based upon any untrue statement or alleged untrue
statement of any material fact contained in the Resale Registration Statement, as supplemented or amended, any final prospectus contained therein, as supplemented or amended, or any amendment or supplement thereof, as supplemented or amended, or
arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading; provided, however, that (i) Global will not be liable
in any such case if and to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by
such holder in writing specifically for use in the Resale Registration Statement or prospectus; (ii) Global shall not be liable to any such holder that uses the Resale Registration Statement or related prospectus during a period when a stop order
has been issued in respect of such Resale Registration Statement or any proceedings for that purpose have been initiated, provided that, in any such case, Global has provided notice thereof to such holder within a reasonable period of time
prior to the use by such holder of the Resale Registration Statement or related prospectus; and (iii) Global shall not be liable to any such holder with respect to any untrue statement or omission or alleged untrue statement or omission made in any
prospectus relating to the Resale Registration to the extent that prior to such holder’s use of such prospectus Global notified such holder that such prospectus included an untrue statement of a material fact or omitted to state a material fact
required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing. 
  
 (iii) Each such holder of Global Stock registered on the Resale Registration Statement shall furnish to Global in writing such information
with respect to such holder as Global may reasonably request or as may be required by law for use in connection with the Resale Registration Statement and the final prospectus contained therein, and each such holder will indemnify, severally and not
jointly, and hold harmless Global against any losses, claims, damages or liabilities to which Global may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities arise out of or are based upon any

  

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untrue statement or alleged untrue statement of any material fact contained in the Resale Registration Statement, any final prospectus contained therein, or
any amendment or supplement thereof, or arise out of or are based upon the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading to the same extent as the foregoing
indemnity from Global to the holders of Global Stock registered on the Resale Registration Statement, but only with respect to any such information with respect to such holder furnished in writing to Global expressly for use therein; provided,
however, that notwithstanding anything in this Agreement to the contrary, the total amount to be indemnified by such holder under this Section 6.6(c)(iii) shall be limited to the net proceeds received by such holder in the offering to
which the Resale Registration Statement or prospectus relates. 
  
 (e) Without the consent of Global, the rights described in this Section 6.6 shall not be transferable and shall not be afforded to any person or entity to whom the Global Shares are transferred, except
that such rights may be transferred with the Global Shares without such consent to persons who (1) execute a Selling Stockholder Notice in the form attached as Exhibit J hereto, (2) receive the Global Shares in a transaction effected in
compliance with the requirements of the Equity Subscription Agreement, and (3) (A) are members of the Parent or (B) receive the Global Shares from such a member or from the Parent in a transaction in which the transferor transfers at least 50% of
the Global Shares initially received by it from Global or the Parent, as applicable. 
  
 6.7 Shut Down Costs. After the Closing, Global and Buyer shall take reasonable measures to minimize the amount of any Shut Down Costs and, to the extent that the Companies had not entered into
binding commitments with respect to any particular Shut Down Cost prior to the Closing, Global and Buyer shall obtain the Parent’s consent (which shall not be unreasonably withheld or delayed) with respect to any Shut Down Cost that
individually or in the aggregate exceeds $100,000. In the event that Buyer or the Companies reasonably determine that the Companies are not obligated to pay any Sellers’ Closing Costs or Shut Down Costs within 18 months following the Closing
Date which have reduced the Cash Portion of the Purchase Price pursuant to Article II, such amounts shall be paid to the Parent promptly in cash after such determination is made. 
  
 6.8 Director and Officer Liability and Indemnification. For a period of six (6) years after the Closing Date,
Buyer shall not, and shall not permit the Company or any of its Subsidiaries to, amend, repeal or modify any provision in the Companies’ Organizational Documents or Governing Documents relating to the exculpation or indemnification of former
officers and directors (unless otherwise required by law), it being the intent of the Parties that the officers and directors of the Companies prior to the Closing shall continue to be entitled to such exculpation and indemnification to the fullest
extent permitted under applicable law. For a period of six (6) years after the Closing Date, Buyer shall, or shall cause the Company and its Subsidiaries to, maintain director and officer liability insurance, which insurance shall provide coverage
for the individuals who were officers and director of the Company and its Subsidiaries prior to the Closing Date, comparable to the policy or policies maintained by the Companies immediately prior to the Closing Date to the maximum extent such
policies may be so maintained, for no more than an annual cost of 300% of the cost for the year ended December 

  

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31, 2003. All estimated costs of procuring such insurance (to the extent not obtained or paid by the Companies prior to the Effective Date) shall be deemed
to be Shut Down Costs. 
  
 ARTICLE VII 
 CONDITIONS TO OBLIGATION OF PARTIES TO 
 CONSUMMATE CLOSING 
  
 7.1 Conditions to
Buyer’s Obligations. The obligations of Buyer and Global under this Agreement to consummate the Closing are subject to the conditions (unless waived by Buyer) that: 
  
 (a) Covenants, Representations and Warranties. The Company and the Sellers shall have
performed all obligations and agreements and complied with all covenants contained in this Agreement to be performed and complied with by each of them prior to or at the Closing Date except where the failure to perform and comply would not
constitute a Material Adverse Effect. The representations and warranties set forth in Article III above shall be true and correct in all respects at and as of the Closing Date, except for where such failure would not have a Material Adverse
Effect. 
  
 (b) Consents. All
statutory requirements for the valid consummation by the Company and the Sellers of the transactions contemplated by this Agreement shall have been fulfilled and all authorizations, consents and approvals, including those of all federal, state,
local and foreign governmental agencies and regulatory authorities required to be obtained in order to permit the consummation of the transactions contemplated hereby (including those listed with an asterisk on Schedule 3.9 (other than the
DLL Leasing Agreement), Dealer Agreements and lessors of Buildings (to the extent consent of the lessors is actually necessary)), shall have been obtained in form and substance reasonably satisfactory to Buyer other than the DLL Leasing Agreement,
including, without limitation, the expiration or termination of any applicable waiting periods under the HSR Act, if applicable, shall have been duly obtained and shall be in full force and effect on the Closing Date, except, in each case or in the
aggregate, where the failure to obtain such authorizations, consents or approvals could not have a Material Adverse Effect. All approvals of the Board of Directors or its equivalent and stockholders or members of the Company and Parent, as
applicable, necessary for the consummation of this Agreement, and the transactions contemplated hereby shall have been obtained. 
  
 (c) [Reserved]. 
  
 (d) Payoff Letters; Releases. The Company shall have obtained and delivered to Buyer payoff letters with respect to
all Funded Indebtedness as of the Closing and releases of all Encumbrances securing Funded Indebtedness (which may only be conditioned upon payment by Buyer of the amount set forth in such payoff letters). The Company shall have obtained and
delivered to Buyer releases of all other Encumbrances, other than Permitted Exceptions. 
  

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 (e) Material Adverse Effect. There has been no Material Adverse
Effect with respect to the Companies since December 31, 2003. 
  
 (f) Leases. Substantially all of the real estate leases for the Buildings shall continue to remain in full force and effect without change following the Closing Date except as would not have a Material
Adverse Effect. 
  
 (g) No Actions.
No action, suit or proceeding shall be pending or threatened before any court or quasi-judicial or administrative agency (with applicable jurisdiction) of any federal, state, local or foreign jurisdiction wherein an unfavorable judgment order,
decree, stipulation, injunction or charge would (A) prevent consummation of any of the material transactions contemplated by this Agreement, (B) cause any of the material transactions contemplated by this Agreement to be rescinded following
consummation or (C) affect materially and adversely the right of the Buyer to own, operate or control the Shares or the Companies. 
  
 (h) Documents to be Delivered by the Parent and the Company. The following documents shall be delivered at the Closing by
the Parent and the Company: 
  
 (i) Opinion
of the Parent’s Counsel. Buyer shall have received an opinion of counsel to the Company and the Parent, dated on the Closing Date, in substantially the same form as the form of opinion that is as attached as Exhibit B hereto.

  
 (ii) Secretary’s
Certificate. Buyer shall have received a secretary’s certificate of the Company executed by the secretary of the Company, dated the Closing Date, in substantially the same form as the form of certificate that is attached as Exhibit
C hereto. 
  
 (iii) Release.
The Sellers shall have executed a general mutual release (the “Release”) in substantially the same form as the form attached as Exhibit D hereto. 
  
 (iv) Sellers’ Receivables. The Sellers shall, and the Company shall have caused all of
the Company’s officers, directors and/or employees to, have repaid in full all debts and other obligations, if any, owed to the Company other than business advances in the ordinary course of business; provided, however, that this
condition shall be deemed waived if the Parent agrees that any such amount outstanding as of the Closing Date would be deducted from the Purchase Price. 
  
 (v) Stock Certificates. The Parent shall have delivered the Shares accompanied by duly executed stock powers, free and clear
of all Encumbrances other than restrictions under applicable securities laws assuming all Funded Indebtedness pursuant to the Company Credit Agreement as accurately set forth on a payoff letter delivered to Buyer pursuant to Section 7.1(d)
has been paid by Buyer. 
  

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 (vi) Equity Subscription Agreement. The Parent shall have executed and
delivered to Buyer an Equity Subscription Agreement in substantially the same form as the form attached as Exhibit G hereto. 
  
 (vii) Escrow Agreement. The Parent shall have delivered to Buyer and Global at the Closing the duly executed Escrow
Agreement in the form attached hereto as Exhibit A, as required pursuant to Section 2.5 hereof. 
  
 (viii) Officer’s Certificate. The Company and Parent shall each have delivered to Buyer an officer’s
certificate to the effect that all closing conditions of Parent and the Company set forth in Sections 7.1(a), (d)-(g) have been obtained or satisfied. 
  
 (ix) Resignations. The Buyer shall have received the resignations, effective as of the
Closing, of (A) each director of the Companies and (B) each officer of the Companies, in each case, to the extent designated by the Buyer, in each case prior to the Closing. 
  
 (i) Bank Consent. Global shall have received the financing from the Global Lenders in
accordance with the terms of the Underwriting Agreement attached hereto as Exhibit I. 
  
 7.2 Conditions to the Sellers’ and the Company’s Obligations. The obligation of the Sellers, the Parent and the Company under this Agreement to consummate the Closing is subject to the
conditions (unless waived by the Parent) that: 
  
 (a) Covenants, Representations and Warranties. Global and Buyer shall have performed all obligations and agreements and complied with all covenants contained in this Agreement to be performed and complied with by Global and/or
Buyer prior to or at the Closing Date (except where the failure to perform and comply would not have a material adverse effect on Global and Buyer), including without, limitation, the filing of the Resale Registration Statement with the SEC. The
representations and warranties set for in Article IV above shall be true and correct in all respects at and as of the Closing Date, except for where such failure would not have a material adverse effect on Global and Buyer. No material
adverse change shall have occurred in Global’s or the Buyer’s ability to consummate the transactions contemplated hereby. 
  
 (b) Consents. All statutory requirements for the valid consummation by Global and Buyer of the transactions contemplated by
this Agreement shall have been fulfilled and all authorizations, consents and approvals, including those of all federal, state, local and foreign governmental agencies and regulatory authorities required to be obtained in order to permit the
consummation by Global and Buyer of the transactions contemplated hereby, shall have been obtained in form and substance reasonably satisfactory to the Parent, including, without limitation, to the extent required, the expiration or termination of
any applicable waiting periods under the HSR Act, shall have been duly obtained and shall be in full force and effect on the Closing Date, except for where such failure would not have a material adverse effect on Global or its ability to consummate
the transactions contemplated hereby. All approvals of the 

  

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Board of Directors and stockholders of Buyer and Global necessary for the consummation of this Agreement, and the transactions contemplated hereby shall have
been obtained. 
  
 (c) Documents to be
Delivered by Global and Buyer. The following documents shall be delivered at the Closing by Global and Buyer, as the case may be: 
  
 (i) Secretary’s Certificate. The Parent shall have received a secretary’s certificate executed by the secretary of
each of Global and Buyer, dated the Closing Date, in substantially the same form as the form of certificate that is attached as Exhibit E hereto. 
  
 (ii) Escrow Agreement. Buyer and Global shall have delivered to the Parent at the Closing the duly executed Escrow Agreement
in the same form attached hereto as Exhibit A, as required pursuant to Section 2.5 hereof. 
  
 (iii) Equity Subscription Agreement. Global and Buyer shall have executed and delivered to Parent an Equity Subscription
Agreement in substantially the same form as the form attached as Exhibit G hereto. 
  
 (iv) Global Stock Certificates. Global shall have delivered to Parent in accordance with Section 2.3(b) the stock
certificates of Global Stock. 
  
 (v)
Opinion of Global and Buyer’s Counsel. The Parent shall have received an opinion of counsel to Global and Buyer, dated on the Closing Date, in substantially the same form as the form of opinion that is as attached as Exhibit H
hereto. 
  
 (vi) Officer’s
Certificate. The Parent shall have received an officer’s certificate of the Buyer and Global to the effect that all closing conditions set forth in Sections 7.2(a), (d), (e) and (f) have been obtained or
satisfied. 
  
 (vii)
Release. The Company, Buyer and Global shall have executed the Release in substantially the same form as the form attached as Exhibit D hereto 
  
 (d) No Actions. No action, suit or proceeding shall be pending or threatened before any court
or quasi-judicial or administrative agency (with applicable jurisdiction) of any federal, state, local or foreign jurisdiction wherein an unfavorable judgment order, decree, stipulation, injunction or charge would (A) prevent consummation of any of
the material transactions contemplated by this Agreement, (B) cause any of the material transactions contemplated by this Agreement to be rescinded following consummation or (C) Materially Adversely Effect the right of the Buyer to own, operate or
control the Shares or the Companies. 
  
 (e)
Resale Registration Statement. The Resale Registration Statement shall have been declared effective by the SEC and not withdrawn and the SEC has not 

  

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issued any stop order with respect to the Resale Registration Statement or initiated any proceedings for that purpose. 
  
 (f) Payments to the Parent. The Parent shall
have received the Purchase Price for the Shares. 
  
 ARTICLE
VIII 
 INDEMNIFICATION 
  
 8.1 Indemnification. 
  
 (a) Indemnification of Buyer. Except as provided in Section 8.5, each Seller, individually and not joint and
severally, shall indemnify and hold harmless Global and Buyer and each officer, director and affiliate of Global and Buyer, including without limitation the Company or any successor of the Company (each, a “Buyer Indemnified Party”
and collectively, the “Buyer Indemnified Parties”) from and against any and all damages, losses, claims, liabilities, demands, charges, suits, penalties, costs and expenses (including court costs and reasonable
attorneys’ fees and expenses incurred in investigating and preparing for any litigation or proceeding) other than consequential, special and indirect damages (collectively, the “Indemnifiable Costs”), which any of the Buyer
Indemnified Parties sustains, or to which any of the Buyer Indemnified Parties is subjected, arising out of any misrepresentation or breach by such Seller under any of the individual representations in Sections 3.1 and 3.9(a), (d) and
(e), covenants, conditions, agreements or other provisions of this Agreement or any agreement or document executed in connection herewith with respect to such Seller (collectively, the “Individual Obligations”). Except as
provided in Section 8.5, the Parent and the Sellers, jointly and severally shall indemnify and hold harmless the Buyer Indemnified Parties from and against any and all Indemnifiable Costs which any of the Buyer Indemnified Parties sustains,
or to which any of the Buyer Indemnified Parties is subjected, arising out of (A) any misrepresentations or breach by the Company (and not with respect to a particular member of Parent) of or under any of the representations, covenants, conditions,
agreements or other provisions of this Agreement or any Transaction Document executed in connection herewith; (B) any liability against the Companies or any of the Buyer Indemnified Parties to (i) any other party to a Dealer Agreement or (ii) any
party to an equipment leasing arrangement with a leasing company (other than the DLL Leasing Agreement or any related agreement with DLL or other agreement with DLL listed on Schedule 3.9 or 3.14) or one of the Companies’ customers for
claims by such other party involving the breach of any such agreement or any Requirements of Laws in connection with any such agreement; to the extent not listed on Schedule 3.18, based upon facts occurring prior to Closing which form the
alleged basis for any litigation, but only (i) if the primary claim of any such dispute or litigation with such other party to a Dealer Agreement or an equipment leasing agreement is the breach of any such agreement or any Requirements of Laws in
connection with any such agreement prior to the Closing by the Companies (i.e. not primarily based on circumstances affecting the relationship with such third party after the Closing) and (ii) to the extent it should have been, but was not, reserved
for or reflected in the Financial Statements; (C) any obligation or uncollected amounts actually due by the Companies pursuant to a recourse lease or guaranty entered into by the Company or the Sellers on or prior to the Closing Date, whether or not
disclosed on the Disclosure Schedules, but only to the extent not reserved for or 

  

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reflected in the Financial Statements or the final and binding Closing Statement Review in accordance with GAAP, or (D) any claims or liability against the
Company, whether known at the time of signing of the Agreement or not, assessed for periods prior to the Closing by any Governmental Body or representative thereof for Unclaimed Property except as reserved for or reflected in the Financial
Statements. This indemnification is expressly intended to apply notwithstanding any negligence (whether sole, concurrent, active or passive) or other fault or strict liability on the part of the Buyer. 
  
 (b) Indemnification of the Parent and the
Sellers. Except as provided in Section 8.5, Buyer and Global (collectively, the “Buyer Indemnifying Parties”) agree to jointly and severally indemnify and hold harmless the Parent, the Sellers and each officer,
director, partner, member and affiliate of the Parent and the Sellers (other than the Companies after the Closing) (each, a “Seller Indemnified Party” and collectively, the “Seller Indemnified Parties” and
together with the Buyer Indemnified Parties, each an “Indemnified Party” and collectively the “Indemnified Parties”) from and against any and all Indemnifiable Costs, which any of the Seller Indemnified Parties
sustains, or to which any of the Seller Indemnified Parties is subjected (whether or not brought by a third party) arising out of (A) any misrepresentation or breach by Buyer and/or Global of or under any of the warranties, representations,
covenants, conditions, agreements or other provisions of this Agreement or any Transaction Document executed in connection herewith; or (B) any claim or liability against any of the Seller Indemnified Parties by any Person based upon facts occurring
or arising after the Closing Date and unrelated to acts or omissions of the Sellers prior to the Closing Date. This indemnification is expressly intended to apply notwithstanding any negligence (whether sole, concurrent, active or passive) or other
fault or strict liability on the part of the Sellers. 
  
 (c) Exceptions. Claims made by one Party against the other Party pursuant to Sections 2.6, 2.7, 2.8 and/or 2.9 shall not be subject to any of the provisions or the limitations set forth in Section 8.5.
Notwithstanding the foregoing, no Seller Indemnified Party or Buyer Indemnified Party shall be entitled to make any claim under this Article VIII to the extent, but only to such extent, that the item for which such claim was made resulted in
a Purchase Price adjustment pursuant to Sections 2.6, 2.7, 2.8 or 2.9 that was paid in full by the other Party or had the result of actually decreasing or increasing the Purchase Price. 
  
 8.2 Defense of Claims. 
  
 (a) If any legal proceeding shall be instituted, or
any claim or demand made, against any Buyer Indemnified Party or Seller Indemnified Party, as applicable, in respect of which the Parent, any Seller or the Buyer Indemnifying Parties, as applicable (each, an “Indemnifying Party”),
may be liable hereunder (except for a proceeding or claim regarding Taxes, which shall be governed by Section 6.5(c)), such Indemnified Party shall give prompt written notice thereof to the Indemnifying Party, and in any event within ten (10)
Business Days after receiving any written notice from any third party describing in reasonable particularity the claim and the basis thereof; provided that no delay on the part of the Indemnified Party in notifying the Indemnifying Party
shall relieve the Indemnifying Party from any obligation hereunder, unless, and then solely to the extent that, the Indemnifying Party is actually prejudiced thereby. Once the Indemnified Party has given notice of the matter to the 

  

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Indemnifying Party, the Indemnifying Party shall have the right to defend any litigation, action, suit, demand, or claim for which such Indemnified Party may
seek indemnification and such Indemnified Party shall extend reasonable cooperation in connection with such defense, which shall be at the Indemnifying Party’s expense. 
  
 (b) In the event the Indemnifying Parties fail or refuse to defend the same within a reasonable
length of time, the Indemnified Parties shall be entitled to assume the defense thereof, and the Indemnifying Parties shall be liable to repay the Indemnified Parties for all reasonable expenses incurred in connection with said defense (including
reasonable attorneys’ fees and settlement payments) if it is determined that such request for indemnification was proper. 
  
 (c) If the Indemnifying Parties shall not have the right to assume the defense of any litigation, action, suit, demand, or claim in
accordance with clause (b) above, the Indemnified Parties shall have the absolute right to control the defense of and to settle, with the consent of the Indemnifying Parties, which consent shall not be unreasonably withheld, such litigation, action,
suit, demand, or claim; provided that Parent shall have the absolute right to settle any and all claims to the extent that payment for such claim is made solely from the Escrow Sum. 
  
 (d) The Indemnified Parties shall be entitled, at
their own expense, to participate in such litigation, action, suit, demand, or claim to the extent practicable. 
  
 8.3 Escrow Claim. Following the Closing and through the date of the Escrow Sum has been exhausted for fully released, if any claim for
indemnification other than Individual Obligations is made by an Indemnified Party pursuant to this Article VIII prior to the expiration of the Escrow Period, such Indemnified Party shall first apply to the Escrow Agent for reimbursement of
such claim in accordance with the provisions of this Agreement and the Escrow Agreement. Thereafter, the Buyer Indemnified Parties may have recourse against Parent and Sellers pursuant to the terms of this Agreement subject to the limitations
contained in this Agreement. 
  
 8.4 Offsets Against
Indemnification. The amount of any Indemnifiable Costs for which indemnification is provided under this Article VIII (a) shall be reduced to take account of any net Tax benefit realized (in the form of a Tax refund, reduction in Taxes
payable, or credit against Taxes payable), and shall be increased to take account of any net Tax detriment realized, arising from the incurrence or payment of any such Indemnifiable Costs or from the receipt of any such indemnification payment and
(b) shall be reduced by the insurance proceeds received and any other net amount, if any, recovered from third parties, pursuant to acquisition agreements with the Companies or otherwise, by any Indemnified Party (or its Affiliates) with respect to
any Indemnifiable Costs. If a Party that has received a payment for an Indemnifiable Cost realizes a Tax benefit after such payment has been received, and such Tax benefit was not previously netted against such payment, such Party shall promptly pay
over to the Party that made the payment an amount equal to the amount of such Tax benefit. If any Indemnified Party shall have received any indemnification payment pursuant to this Article VIII with respect to any Indemnifiable Costs, such
Indemnified Party shall, upon written request by the Indemnifying 

  

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Party, assign to such Indemnifying Party (to the extent of the indemnification payment) any claim which such Indemnified Party may have under any applicable
insurance policy or other agreement which provides coverage for such Indemnifiable Costs to the extent of such indemnification payment, to the extent such assignment is permissible (and if not permissible, the Indemnified Party shall use
commercially reasonable efforts at the Indemnifying Party’s expense to recover such amounts on behalf of the Indemnifying Party). Such Indemnified Party shall reasonably cooperate (at the expense of the Indemnifying Party) to collect under such
insurance policy or agreement prior to or contemporaneously with seeking indemnification against an Indemnifying Party. If any Indemnified Party shall have received any payment pursuant to this Article VIII with respect to any Indemnifiable
Costs and has or shall subsequently have received insurance proceeds or other amounts with respect to such Indemnifiable Costs, then such Indemnified Party shall promptly pay over to the Indemnifying Party the amount so recovered (after deducting
the amount of the expenses incurred by it in procuring such recovery and any Tax detriment realized), but not in excess of the amount previously so paid by the Indemnifying Party. 
  
 8.5 Limits on Indemnification. Regardless of any investigation at any time made by or on behalf of any party
hereto or of any information any party may have in respect thereof, all covenants, agreements, representations, and warranties and the related indemnities made hereunder or pursuant hereto or in connection with the transactions contemplated hereby
shall survive the Closing for a period of eighteen (18) months, provided (a) the representations, warranties and covenants contained in Sections 3.1 (Due Authorization), 3.6 (Capital Stock; Title to Shares), 3.7 (Convertible Securities, Options,
Etc.), 3.13 (Taxes), 3.25 (Employee Benefits), 4.2 (Due Authorization), 4.4 (Investment), 4.9 (Issuance of Global Shares), 5.5 (Access), 6.1 (General), 6.2 (Transition), 6.3 (Confidentiality), 6.4 (Covenant Not to Compete), 6.5 (Additional Tax
Matters), and 6.7 (Shut Down Costs) and Article VIII of this Agreement, and the related indemnities, as well as the right to make any claim for fraud, shall survive the Closing until the expiration of the applicable statutes of
limitations for determining or contesting tort or contract claims, Tax liabilities or fraud, as the case may be; provided, however, that the indemnities provided in Section 8.1(a)(B), (C) or (D) shall in any event expire no
later than the fourth anniversary of the Closing Date, (b) the representations, warranties and covenants contained in Sections 3.2 (Title to Shares), and 3.4(b) and (c) (Subsidiaries) of this Agreement, and the related indemnities, shall
survive the Closing indefinitely and not expire, and (c) all other covenants set forth in Article VI which have specific expiration terms as set forth herein shall expire as of the dates set forth therein. Notwithstanding the foregoing, any
indemnification claims made prior to the expiration of the applicable statute of limitations or period set forth in the preceding sentence, shall continue after such date until finally resolved. The Sellers shall not be obligated to pay any amounts
for indemnification under this Article VIII (other than Individual Obligations) until the aggregate indemnification obligations hereunder exceeds $1,000,000 (the “Deductible”) (Purchase Price adjustments pursuant to
Sections 2.6, 2.7, 2.8 and 2.9 and any liability pursuant to Section 6.5, 6.6 or 6.7 shall not be included in the calculation of the Deductible, whereupon the Sellers shall be liable for all amounts for which
indemnification may be sought solely to the extent in excess of the Deductible. For purposes of Section 8.1 or 8.5, any requirement in any representation or warranty of Parent or the Company that an event or fact be material or have a
Material Adverse Effect, as appropriate, in order for such event or fact to constitute a misrepresentation or breach of such representation or warranty 

  

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shall be ignored; provided, however, that no individual claim involving less than $25,000 or series of related claims involving less than $50,000 may
be sought for indemnification by the Buyer Indemnified Parties and any such small claims shall not be applied to the Deductible or the Primary Cap. Notwithstanding the foregoing, in no event shall the aggregate liability of the Sellers hereunder
(including Sections 2.7 and 2.8) exceed $4,000,000 (the “Primary Cap”) (except for any claims for breach of the representations, warranties and covenants of the Sellers under Sections 3.1(Due Authorization), 3.2
(Title to Shares), 3.4(b) or (c) (Subsidiaries), 3.6 (Capital Stock; Title to Shares), 3.7 (Convertible Securities, Options, Etc.), 3.13 (Taxes), 3.25 (Employee Benefits), 6.4 (Covenant Not to Compete), 6.5 (Additional Tax Matters) and the
indemnity provisions of Sections 8.1(a)(B) or (D) and any claims for fraud). In no event shall the aggregate liability of the Parent and the Sellers to Buyer Indemnified Parties for breaches of Section 8.1(a)(B) and (D) in the
aggregate exceed the amount equal to (x) $12,000,000 less (y) the aggregate amount of claims paid by Sellers under the Primary Cap. In no event shall the aggregate liability of (i) the Parent and the Sellers to the Buyer Indemnified Parties under
this Agreement and the Transaction Documents or Buyer and/or Global to any Seller Indemnified Party for indemnification under this Agreement and the Transaction Documents exceed $50,000,000 (the “Cap”) other than claims for fraud
and (ii) any Member to the Buyer Indemnified Parties under this Agreement and the other Transaction Documents exceed such member’s pro rata share of the Cap based on such Member’s share of the Purchase Price (excluding Funded Indebtedness)
as if such amount was distributed to the Members immediately following the Closing pursuant to the terms of the Parent’s Organizational Documents and Governing Documents and further provided that such individual portion of the Cap shall not
exceed the amount of the Purchase Price actually distributed to such Member or its transferees (their “Pro Rata Limitation”). However, nothing in this Article VIII shall limit Buyer or the Sellers in exercising or securing
any remedies or in the amount of damages that it can recover from the Sellers or Buyer in the event that Buyer or the Sellers successfully prove fraud by the other in connection with this Agreement, including the Financial Statements or the
Disclosure Schedules attached hereto; provided, however, that (i) no particular member of Parent shall be liable for the fraud of any other member of Parent and (ii) no particular member of Parent shall be liable for more than their Pro Rata
Limitation for any fraud committed by Parent and/or the Companies unless Buyer successfully proves fraud by such member of Parent. Any settlement of a claim brought against an Indemnified Party must be consented to in writing by the Indemnified
Party, and such consent shall not unreasonably be withheld, provided, however, that the Parent shall have the absolute right to settle any and all claims to the extent that payment for such claim is made solely from the Escrow Sum. Neither
Buyer nor the Sellers shall be liable for punitive damages pursuant to any claim made by another party to this Agreement. 
  
 8.6 Other Limitations Regarding Indemnification. 
  

(a) To the extent that any breach of a representation, warranty or covenant made by the Sellers is capable of remedy or cure,
Global shall, and shall cause each other Buyer Indemnified Party to, afford the Seller Indemnifying Party thirty (30) days to remedy or cure the breach and provide to the Seller Indemnifying Party all reasonable assistance (including access to
buildings, offices, records, files, properties and assets) in connection with such remedy or cure. Global shall take, and shall cause each other Buyer Indemnified Party to take, reasonable measures to mitigate the consequences of any breach giving
rise to an 

  

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indemnification obligation of the Seller Indemnifying Party under this Agreement. Conversely, to the extent that any breach of a representation, warranty or
covenant made by Global or Buyer is capable of remedy or cure, the Sellers shall, and shall cause each other Seller Indemnified Party to, afford the Buyer Indemnifying Party thirty (30) days to remedy or cure the breach and provide to the Buyer
Indemnifying Party all reasonable assistance (including access to buildings, offices, records, files, properties and assets) in connection with such remedy or cure. Sellers shall take, and shall cause each other Seller Indemnified Party to take,
reasonable measures to mitigate the consequences of any breach giving rise to an indemnification obligation of the Buyer Indemnifying Party under this Agreement. 
  
 (b) With respect to any claim relating to environmental matters in which any Buyer Indemnified Party
(including, without limitation, the Company) is required under applicable Environmental Law or other laws to initiate or conduct a response action, the Indemnifying Party shall only be responsible to provide indemnification with respect to the most
economically reasonable response action required under such Environmental Law. A claim arising out of offsite disposal that is resolved through agreement, settlement or consent among a group of potentially responsible parties with the appropriate
governmental authority shall be deemed economically reasonable as long as it affects other similarly situated parties similarly to the Buyer Indemnified Parties. The Indemnifying Party shall have the option to observe and approve (such approval not
to be unreasonably withheld) any response action and Buyer and Global shall, and shall cause the Buyer Indemnified Parties (including, without limitation, the Company) to, provide the Indemnifying Party and their agents and representatives
reasonable assistance, including access to any affected real property, to observe the response action. To the extent any Buyer Indemnified Party elects to implement a response action that is not economically reasonable (in Global’s reasonable
determination), any excess expense relating to the response action shall be borne by the Buyer Indemnified Parties and not the Indemnifying Party. 
  
 (c) In computing the amount of any indemnification to which a Buyer Indemnified Party may be entitled by virtue of a breach of (i)
Section 3.11 based on the amount of assets or liabilities reflected in the financial statements referred to therein or (ii) Section 3.17 based on the list of certain assets over $25,000, if the amount of any liabilities has been
understated, or unrecorded, or assets overstated on the one hand, but on the other hand the amount of any other liabilities has been overstated or any assets understated only the net effect (benefit or detriment) of such errors shall be taken into
account.  
  
 (d) Notwithstanding
anything contained in this Agreement to the contrary, to the extent of any indemnification payments to any Indemnified Party with respect to any particular Indemnifiable Costs, no recovery for such amount may be made by any of the other Indemnified
Parties from any of the Indemnifying Parties in respect thereof and no additional recovery for such amount may be made by any Indemnified Party under this Agreement (including any arising pursuant to CERCLA or otherwise in respect of environmental,
health or safety matters) (to avoid duplicate recovery). 
  
 (e) With respect to any claim for indemnification which is a joint and several obligation of the Seller Indemnifying Parties, Buyer and Global shall in good faith make 

  

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such claim and the collection thereof first against all Sellers prior to asserting such joint and several claim against any individual Seller or group of
Sellers. 
  
 8.7 Exclusive Remedy. Except for claims
for fraud, an action for damages under this Article VIII constitutes the sole and exclusive remedy of the parties with respect to money damages regarding claims made under this Agreement, and each party hereby irrevocable waives and releases
the other from any and all claims and other causes of action relating to money damages regarding the provisions of this Agreement. 
  
 8.8 Adjustment to Purchase Price. Any payment under this Article VIII shall be treated for tax purposes as an adjustment of the
Purchase Price to the extent such characterization is proper and permissible under relevant Tax authorities, including court decisions, statutes, regulations and administrative promulgations. 
  
 8.9 No Other Representations or Projections. Except as set
forth in this Agreement or the other Transaction Documents, none of Parent or the other Sellers, the Company, Buyer or Global makes any representation or warranty whatsoever, and Global and Buyer on the one hand, and the Sellers and the Company, on
the other, is not relying on any such representation or warranty or any other representation or warranty in its decision to enter into this Agreement and the other Transaction Documents and to consummate the transactions contemplated hereby and
thereby. No representation or warranty is made by any Party as to the future profitability, value, earning power or prospects of Global, the Companies, the Shares or the Global Stock. Without limiting the foregoing, each of Global and Buyer on the
one hand and the Sellers on the other, agrees that none of Parent or the other Sellers, the Companies, Global or Buyer nor any of their respective members, equityholders, partners and Affiliates and their respective officers, directors, employees,
representatives and agents make any representation or warranty with respect to any estimates, projections and other forecasts and plans (including the reasonableness of the assumptions underlying such estimates, projections and forecasts) provided
by any Party in connection with the transactions contemplated hereby. Each of Global and Buyer further acknowledges and agrees after the Closing, it, and its equityholders and Affiliates and their respective officers, directors, employees,
equityholders and partners, will have no further recourse whatsoever against any of the Seller Parties with respect to the Shares, the subject matter of this Agreement or the transactions contemplated hereby and thereby except as expressly set forth
in this Agreement or the Transaction Documents. Each of Seller Parties further acknowledges and agrees after the Closing, it, and its equityholders and Affiliates and their respective officers, directors, employees, equityholders and partners, will
have no further recourse whatsoever against any of Global or Buyer with respect to the Shares, the Stock portion of Purchase Price, the subject matter of this Agreement or the transactions contemplated hereby and thereby except as expressly set
forth in this Agreement or the Transaction Documents. 
  

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 ARTICLE IX 
 TERMINATION 
  
 9.1
Termination of Agreement. The Parties may terminate this Agreement as provided below: 
  
 (a) Buyer and the Parent may terminate this Agreement by mutual written consent at any time prior to the Closing; 
  
 (b) Buyer may terminate this Agreement by giving
written notice to the Parent at any time prior to the Closing in the event the Company and/or the Parent or the Sellers are in breach of any representation, warranty or covenant contained in this Agreement but only to the extent such breach
constitutes a Material Adverse Effect and such breach has not been cured within thirty (30) days of written notice thereof, and the Parent may terminate this Agreement by giving written notice to the Buyer at any time prior to the Closing in the
event the Buyer or Global is in material breach of any material representation, warranty or covenant contained in this Agreement and such material breach has not been cured within thirty (30) days of written notice thereof; 
  
 (c) Parent and/or the Sellers may terminate this
Agreement by giving written notice to the Buyer at any time prior to the Closing if any Governmental Body shall institute or threaten any suit, action or proceeding challenging the validity or legality, or seeking to restrain the consummation of the
transactions contemplated by this Agreement; 
  
 (d) Buyer and/or Global may terminate this Agreement by giving written notice to the Parent at any time prior to the Closing if any Governmental Body shall institute or threaten any suit, action or proceeding challenging the validity
or legality, or seeking to restrain the consummation of the transactions contemplated by this Agreement; 
  
 (e) Buyer may terminate this Agreement by giving written notice to the Parent at any time prior to the Closing if the Closing shall
not have occurred on or before June 30, 2004 by reason of the failure of any condition precedent under Section 7.1 hereof (unless the failure results primarily from the Buyer or Global itself breaching any representation, warranty or covenant
contained in this Agreement); or 
  
 (f)
Parent may terminate this Agreement by giving written notice to the Buyer at any time prior to the Closing if the Closing shall not have occurred on or before June 30, 2004 by reason of the failure of any condition precedent under Section 7.2
hereof (unless the failure results primarily from the Company or the Sellers itself breaching any representation, warranty or covenant contained in this Agreement). 
  
 9.2 Effect of Termination. If either the Buyer or the Seller terminates this Agreement pursuant to
Section 9.1 above, all obligations of the Parties hereunder, except for the obligations set forth in this Section 9.2 and Sections 10.4 (Expenses), 10.5 (Binding Effect; Assignment), 10.7 (Governing Law), 10.9 (Public
Announcements) and 10.12 (Waiver of Jury Trial), shall terminate without any liability of any Party to any other Party, except that nothing contained in this Section 9.2 shall alter, affect, modify or restrict any parties’
rights to rely on and/or seek indemnification for any willful or intentional breach of any of the representations, warranties or covenants of any of the Parties contained in this Agreement or for fraud. 
  

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 ARTICLE X 
 MISCELLANEOUS 
  
 10.1
Modifications. Any amendment, change or modification of this Agreement prior to Closing shall be void unless in writing and signed by Global, the Buyer, the Company, Parent and the Majority Members. After the Closing, this Agreement may
be amended, changed or modified with the written consent of Global, Parent and the Majority Members; provided, however, that any change or waiver which affects a particular Seller or group of Sellers individually in a manner materially
adverse to all Sellers generally (as opposed to all Sellers), must be approved in writing by such Seller or the majority of such group of Sellers, as applicable. No failure or delay by any party hereto in exercising any right, power or privilege
hereunder (and no course of dealing between or among any of the parties) shall operate as a waiver of any such right, power or privilege. No waiver of any default on any one occasion shall constitute a waiver of any subsequent or other default. No
single or partial exercise of any such right, power or privilege shall preclude the further or full exercise thereof. 
  
 10.2 Notices. All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given when
personally delivered, or if sent by United States certified mail, return receipt requested, postage prepaid, shall be deemed duly given on the first attempted delivery by United States Postal Service, or if sent by facsimile or receipted overnight
courier services shall be deemed duly given on the Business Day received if received prior to 5:00 p.m. local time or on the following Business Day if received after 5:00 p.m. local time or on a non-Business Day, addressed to the respective parties
hereto as follows: 
  
 Global, Buyer or the Company:

  

			
	 Global Imaging Systems, Inc.
 3820 Northdale
Boulevard
 Suite 200A
 Tampa, Florida 33624

	Attention:	 	Todd S. Johnson, Vice President
	Fax No.:	 	(813) 264-7877
	Tel. No.:	 	(813) 960-5508

  
 With a copy to:

  

			
	 Hogan & Hartson L.L.P.
 Columbia
Square
 555 Thirteenth Street, NW
 Washington, DC
20004-1109

	Attention:	 	Christopher J. Hagan, Esq.
	Fax No.:	 	(202) 637-5910
	Tel No.:	 	(202) 637-5771

  

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 The Sellers: 
  

			
	 Goense Bounds & Partners
 272 East
Deerpath Road
 Suite 300
 Lake Forest, IL
60045

	Attention:	 	John M. Goense
	Fax No.:	 	(847) 735-2003
	Tel No.:	 	(847) 735-2032
	
	And
	
	Imagine Technology Group, LLC
	
	 (Prior to the Closing)
 541 Fairbanks
Court
 Suite 1700
 Chicago, IL 60611

	Attention:	 	David Wilson
	Fax No.:	 	(312) 321-0171
	Tel No.:	 	(312) 321-0038
	
	 (After the Closing)
 c/o Goense Bounds &
Partners
 272 East Deerpath Road
 Suite 300
 Lake Forest, IL 60045

	Attention:	 	John M. Goense
	Fax No.:	 	(847) 735-2003
	Tel No.:	 	(847) 735-2032

  
 And with a copy
to: 
  

			
	 Kirkland & Ellis LLP
 Aon
Center
 200 East Randolph Drive
 56th Floor
 Chicago, IL
60601

	Attention:	 	 Kevin R. Evanich, P.C.
 Jeffrey A. Fine,
Esq.

	Fax No.:	 	(312) 861-2200
	Tel No.:	 	(312) 861-2000

  
 or to such other address as to any
party hereto as such party shall designate by like notice to the other parties hereto. 
  

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 10.3 Counterparts; Facsimile Transmission. This Agreement may be executed in several
counterparts, each of which shall be deemed an original but all of which counterparts collectively shall constitute one instrument, and in making proof of this Agreement, it shall never be necessary to produce or account for more than one such
counterpart. Signatures of a party to this Agreement or other documents executed in connection herewith which are sent to the other parties by facsimile transmission shall be binding as evidence of acceptance of the terms hereof or thereof by such
signatory party, with originals to be circulated to the other parties in due course. 
  
 10.4 Expenses. Each of the parties hereto agrees to bear its own transaction expenses and brokerage fees in connection with the transactions contemplated hereby. Notwithstanding the foregoing,
Buyer and the Company (after the Closing) shall bear all Sellers’ Closing Costs, which shall reduce the Purchase Price pursuant to Section 2.6. The Sellers shall be also responsible for all stock transfer or capital gains taxes
imposed on the Companies or Sellers, if any, in connection with this Agreement. 
  
 10.5 Binding Effect; Assignment. This Agreement shall be binding upon and inure to the benefit of Global, the Company, Buyer, the Parent and the Sellers, their heirs, representatives, successors, and
permitted assigns, in accordance with the terms hereof. This Agreement shall not be assignable by the Company or the Sellers without the prior written consent of Buyer; provided, however, that the Parent may assign any and all of its
rights and interests hereunder (other than the Global Stock except as permitted by Section 6.6) to one or more of its Members and the Members may assign any and all of their rights and interests hereunder to one or more of their affiliates,
in each case so long as such Seller or Sellers, as applicable, remains responsible for the performance of all their respective obligations hereunder. This Agreement shall be assignable by Buyer to a wholly owned subsidiary of Global or a
wholly-owned subsidiary of any such subsidiary (unless in each case Buyer or Global intends to sell or transfer such Subsidiary) without the prior written consent of the Parent, but any such assignment shall not relieve Buyer or Global of its
obligations hereunder. In addition, the indemnification rights of Buyer or Global under Article VIII hereof may be collaterally assigned to Wachovia Bank, National Association. Furthermore, as Global intends to merge Buyer with and into the
Company following the Closing, Global shall be entitled to enforce and exercise any of Buyer’s rights under any of the Transaction Documents following the consummation of such merger. 
  
 10.6 Entire and Sole Agreement. This Agreement and the other
schedules and agreements referred to herein, constitute the entire agreement between the parties hereto and supersede all prior agreements, representations, warranties, statements, promises, information, arrangements and understandings, whether oral
or written, express or implied, with respect to the subject matter hereof other than the Confidentiality Agreement. 
  
 10.7 GOVERNING LAW. IT IS UNDERSTOOD
AND AGREED THAT THE CONSTRUCTION AND INTERPRETATION OF THIS AGREEMENT SHALL
AT ALL TIMES AND IN ALL RESPECTS BE GOVERNED BY THE LAWS
OF THE STATE OF DELAWARE WITHOUT REGARD TO ITS RULES OF CONFLICTS
OF LAWS. ANY CLAIM, COMPLAINT, OR ACTION BROUGHT UNDER THIS AGREEMENT
SHALL BE BROUGHT IN A COURT OF COMPETENT JURISDICTION IN THE STATE
OF 

  

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DELAWARE, WHOSE COURTS SHALL HAVE EXCLUSIVE
JURISDICTION OVER CLAIMS, COMPLAINTS, OR ACTIONS BROUGHT UNDER THIS AGREEMENT, AND
THE PARTIES HEREBY AGREE AND SUBMIT TO THE PERSONAL JURISDICTION AND
VENUE THEREOF. 
  
 10.8
Invalid Provisions. If any provision of this Agreement is deemed or held to be illegal, invalid or unenforceable, this Agreement shall be considered divisible and inoperative as to such provision to the extent it is deemed to be illegal,
invalid or unenforceable, and in all other respects this Agreement shall remain in full force and effect; provided, however, that if any provision of this Agreement is deemed or held to be illegal, invalid or unenforceable there shall be
added hereto automatically a provision as similar as possible to such illegal, invalid or unenforceable provision and be legal, valid and enforceable. Further, should any provision contained in this Agreement ever be reformed or rewritten by any
judicial body of competent jurisdiction, such provision as so reformed or rewritten shall be binding upon all parties hereto. 
  
 10.9 Public Announcements. No party shall make any public announcement of the transactions contemplated hereby without the prior written
consent of the other party, which consent shall not be unreasonably withheld, provided, however, that any Party may make any public disclosure it believes in good faith is required by law or regulation (in which case the disclosing Party will
advise the other Parties prior to making the disclosure and provide a reasonable opportunity for review and comment prior to making the disclosure). 
  
 10.10 Remedies Cumulative. The remedies of the parties under this Agreement are cumulative and shall not exclude any other remedies to which
any party may be lawfully entitled, subject to the terms of Article VIII. 
  
 10.11 Waiver. No failure or delay on the part of any party in exercising any right, power, or privilege hereunder or under any of the documents delivered in connection with this Agreement shall operate
as a waiver of such right, power, or privilege; nor shall any single or partial exercise of any such right, power, or privilege preclude any other or further exercise thereof or the exercise of any other right, power, or privilege. 
  
 10.12 WAIVER OF JURY
TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL
BY JURY IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING DIRECTLY OR
INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT.

  
 10.13 Breach or Violation. Without limiting or
waiving in any respect any rights or remedies of any party hereto under this Agreement or hereinafter existing at law or in equity or by statute, each of the Parties hereto shall be entitled to seek injunctive relief or specific performance of the
obligations to be performed by the other Parties in accordance with the provisions of this Agreement. 
  
 10.14 Global Undertaking. Global acknowledges and agrees that it will receive substantial direct and indirect benefits from the
consummation of the transactions contemplated hereby. Accordingly, Global hereby absolutely and unconditionally guarantees and shall be liable for the prompt payment and performance of all of the duties and obligations of Buyer 

  

 - 64 - 

 
under and pursuant to this Agreement as a primary obligor and shall be jointly and severally liable with Buyer for all liabilities and obligations of Buyer
under this Agreement. 
  
 [THIS SPACE INTENTIONALLY LEFT BLANK]

  

 - 65 - 

 IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed as of
the date and year first above written. 
  

			
	GLOBAL:
	
	GLOBAL IMAGING SYSTEMS, INC.
		
	 By:
	 	/s/    THOMAS S. JOHNSON        
	 Name:
	 	Thomas S. Johnson
	 Title:
	 	Chairman and Chief Executive Officer
	
	BUYER:
	
	ITG ACQUISITION I CORPORATION
		
	By:	 	/s/    TODD S. JOHNSON        
	 Name:
	 	Todd S. Johnson
	 Title:
	 	President
	
	THE COMPANY:
	
	IMAGINE TECHNOLOGY GROUP, INC.
		
	By:	 	/s/    JOHN LEINWEBER        
	 Name:
	 	John Leinweber
	 Title:
	 	Chief Executive Officer
	
	THE PARENT:
	
	IMAGINE TECHNOLOGY GROUP, LLC
		
	By:	 	/s/    JOHN LEINWEBER        
	 Name:
	 	John Leinweber
	 Title:
	 	C.E.O.

  
 [Signature Page
to Stock Purchase Agreement] 
  

									
	 	 	 	 	THE MEMBERS:
			
	 	 	 	 	GOENSE BOUNDS & PARTNERS A, L.P.
					
	 	 	 	 	 	 	 By:
	 	 GP Management, L.P.

	 	 	 	 	 	 	 Its:
	 	 General Partner

					
	 	 	 	 	 	 	 By:
	 	 Goense Bounds & Partners, L.L.C.

	 	 	 	 	 	 	 Its:
	 	 General Partner

					
	 	 	 	 	 	 	 By:
	 	/s/    JOHN M. GOENSE        
	 	 	 	 	 	 	 Its:
	 	Member
			
	 	 	 	 	GOENSE BOUNDS & PARTNERS B, L.P.
					
	 	 	 	 	 	 	 By:
	 	 GP Management, L.P.

	 	 	 	 	 	 	 Its:
	 	 General Partner

					
	 	 	 	 	 	 	 By:
	 	 Goense Bounds & Partners, L.L.C.

	 	 	 	 	 	 	 Its:
	 	 General Partner

					
	 	 	 	 	 	 	 By:
	 	/s/    JOHN M. GOENSE        
	 	 	 	 	 	 	 Its:
	 	Member
			
	 	 	 	 	ALLSTATE INSURANCE COMPANY
					
	By:	 	/s/    DOROTHY E. EVEN        	 	 	 	By:	 	/s/    PATRICIA WILSON        
	 	 	Dorothy E. Even	 	 	 	 Its:
	 	Patricia Wilson
	 	 	Authorized Signatory	 	 	 	 	 	Authorized Signatory
					
	 	 	 	 	 	 	 	 	/s/    JOHN LEINWEBER        
	 	 	 	 	 	 	 	 	JOHN LEINWEBER

  
 [Signature Page to
Stock Purchase Agreement]

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