Document:

Simplex Agreement

 Exhibit 10.3 
 SHARE PURCHASE AGREEMENT 
 This Agreement is
made as of the 15th day of November, 2007. 
 BETWEEN: 
 SIMPLEX SOLUTIONS INC., a corporation incorporated under the laws of the province of Ontario 

(hereinafter referred to as the “Vendor”) 
 -and- 
 CAPITAL MARKETS TECHNOLOGIES INC., a corporation incorporated under the laws of Florida

 (hereinafter referred to as the “Purchaser”) 
 WHEREAS the Vendor is the parent company of Simplex Consulting Limited, a United Kingdom company (“SCL”); 
 AND WHEREAS the Purchaser is willing to purchase from the Vendor, and the Vendor is willing to sell to the Purchaser all of the issued and
outstanding share capital of SCL (the “Shares”) on the terms and conditions contained in this Agreement; 
 NOW
THEREFORE, in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration (the receipt and sufficiency of which is hereby acknowledged), the parties hereto covenant and agree with each other as
follows: 
 ARTICLE 1 
 INTERPRETATION 
 1.1 Definitions. In this Agreement, the following terms shall have the meanings set out below unless the context
requires otherwise: 
  

	 	(a)	“Affiliate” means, with respect to any Person, any other Person who directly or indirectly controls, is controlled by, or is under direct or indirect common control
with, such Person, and includes any Person in like relation to an Affiliate. A Person shall be deemed to control a Person if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of
such Person, whether through the ownership of voting securities, by contract or otherwise; and the term “controlled” shall have a similar meaning. 

  

	 	(b)	“Agreement” means this Agreement, including the Schedules to this Agreement, as it or they may be amended or supplemented from time to time, and the expressions
“hereof”, “herein”, “hereto”, “hereunder”, “hereby” and similar expressions refer to this Agreement as a whole and not to any particular Section of this Agreement.

  

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	 	(c)	“Applicable Law” means, with respect to any Person, property, transaction, event or other matter, any law, rule, statute, regulation, order, judgment, decree,
treaty or other requirement having the force of law (collectively, the “Law”) relating or applicable to such Person, property, transaction, event or other matter. Applicable Law also includes, where appropriate, any interpretation
of the Law (or any part thereof) by any Person having jurisdiction over it, or charged with its administration or interpretation. 

  

	 	(d)	“Business Day” means any day except Saturday, Sunday, a statutory holiday in the Province of Ontario or any other day on which banks are generally not open for
business in the City of Toronto, Ontario. 

  

	 	(e)	“Closing” means the completion of the purchase and sale of the Shares in accordance with the provisions of this Agreement. 

  

	 	(f)	“Closing Date” means the date that is 10 days following the satisfaction or waiver of all conditions to Closing as set out herein, or on such earlier or later date
as may be agreed upon in writing by the parties. 

  

	 	(g)	“Closing Times” means the time of closing on the Closing Date provided for in Section 3.1. 

  

	 	(h)	“Consents” means all consents and approvals required to be obtained by the Purchaser and/or Vendor in connection with the execution and delivery of this Agreement
and the completion of the transactions contemplated by this Agreement. 

  

	 	(i)	“Debt Satisfaction Shares” shall have the meaning ascribed thereto in Section 2.3(1). 

  

	 	(j)	“Event of Default” shall have the meaning ascribed thereto in Section 2.3(5)(c). 

  

	 	(k)	“Governmental Authority” means: 

  

	 	(i)	any domestic or foreign government, whether national, federal, provincial, state, territorial, municipal or local (whether administrative, legislative, executive or otherwise);

  

	 	(ii)	any agency, authority, ministry, department, regulatory body, court, central bank, bureau, board or other instrumentality having legislative, judicial, taxing, regulatory,
prosecutorial or administrative powers or functions of, or pertaining to, government; 

  

	 	(iii)	any court, commission, individual, arbitrator, arbitration panel or other body having adjudicative, regulatory, judicial, quasi-judicial, administrative or similar actions; and

  

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	 	(iv)	any other body or entity created under the authority of or otherwise subject to the jurisdiction of any of the foregoing, including any stock or other securities exchange or
professional association. 

  

	 	(l)	“Indemnified Party” means a Person whom the Vendor or the Purchaser, as the case may be, has agreed to indemnify under Article 6. 

  

	 	(m)	“Independent Canadian Accountant” has the meaning ascribed thereto in Section 2.3(4)(b). 

  

	 	(n)	“Independent UK Accountant” has the meaning ascribed thereto in Section 2.3(3)(b). 

  

	 	(o)	“Interim Period” means the period from the date of this Agreement to the Closing Time. 

  

	 	(p)	“Lien” means any lien, mortgage, charge, hypothec, pledge, security interest, prior assignment, option, warrant, lease, sublease, right to possession, encumbrance,
claim, right or restriction which affects, by way of a conflicting ownership interest or otherwise, the right, title or interest in or to any particular property. 

  

	 	(q)	“Ordinary Course of Business” means an action taken by a Person only if such action is consistent with the past practices of such Person and is taken in the
ordinary course of the normal day-to-day operations of such Person and such action is not required to be authorized by the board of directors of such Person (or by any Person or group of Persons exercising similar authority).

  

	 	(r)	“Party” means a party to this Agreement and any reference to a party includes its successors and permitted assigns; and “Parties” means every
party. 

  

	 	(s)	“Person” is to be broadly interpreted and includes an individual, a corporation, a partnership, a trust, an unincorporated organization, and the successors,
assigns, executors, heirs, administrators or other legal representatives of an individual in such capacity. 

  

	 	(t)	“Prime Rate” means the prime rate of interest per annum quoted by the CIBC from time to time as its reference rate of interest for Canadian dollar demand loans made
to its commercial customers in Canada and which CIBC refers to as its “prime rate”, as such rate may be changed from time to time. 

  

	 	(u)	“Purchaser Shares” has the meaning ascribed thereto in Section 2.2(a). 

  

	 	(v)	“Regulatory Approvals” means any approval, consent, ruling, authorization, notice, permit or acknowledgement that may be required from any Person pursuant to
Applicable Law in connection with the sale of the Shares to the Purchaser and/or the issuance of the Purchaser Shares to the Vendor on the terms contemplated in this Agreement, which is necessary to permit the Parties to perform their obligations
under this Agreement. 

  

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	 	(w)	“SCL Debt” means for SCL an amount equal to all indebtedness (including interest thereon) for borrowed money in relation to third party loans made to SCL, for which
SCL is liable and for which SCL would account for the same as a liability on its balance sheet as at the Closing Date, provided such debt was incurred to further the business of SCL and any debt incurred by SCL on and after the date of this
Agreement shall be subject to the approval of the board of directors of the Vendor as a pre-condition to being included in the SCL Debt amount and SCL Debt shall also include any loan of funds or fund advances made by SCL to the Vendor, less any
amount of loan of funds or fund advances made by the Vendor to SCL. For greater clarity, “SCL Debt” shall not include any obligations under operating leases, trade payable, or accrued expenses arising in the Ordinary Course of Business of
SCL. 

  

	 	(x)	“SCL Debt Statement” shall have the meaning ascribed thereto in Section 2.3(4). 

  

	 	(y)	“SCL Line of Credit” shall have the meaning ascribed thereto in Section 2.3(2)(d). 

  

	 	(z)	“Simplex Debt” means for the Vendor all indebtedness (including interest and prepayment penalties thereon) for borrowed money, including loans, deferred
consideration, debts, bank overdrafts, any liabilities under acceptances, monies due under capitalized leases or financial leases (but excluding operating leases), or for the deferred purchase price of property or services for which the Vendor is
liable, contingently or otherwise, as obligor, guarantor, or otherwise, or in respect of which the Vendor otherwise assures a creditor against loss, including but not limited to bank debt, bank fees, shareholder debt and vendor debt and including
any obligations under operating leases, trade payables, or accrued expenses up to and including the Closing Date and any expenses in relation to the transactions as set out in this Agreement incurred by the Vendor whether incurred before or after
the Closing Date. 

  

	 	(aa)	“Simplex Debt Statement” shall have the meaning ascribed thereto in Section 2.3(3). 

  

	 	(bb)	“Shares” means the issued and outstanding shares in the capital of SCL. 

 1.2 Business Days. If any payment is required to be made or other action is required to be taken pursuant to this Agreement on a day which is not a Business Day, then such payment or action shall be made or
taken on the next Business Day. 
 1.3 Currency and Payment Obligations. Except as otherwise expressly provided in this Agreement all dollar amounts
referred to in this Agreement are stated in Canadian Dollars. 
 1.5 Calculation of Time. In this Agreement, a period of days shall be deemed to begin
on the first day after the event which began the period and to end at 5:00 p.m. Toronto time on the last day of the period. If any period of time is to expire hereunder on any day that is not a Business Day, the period shall be deemed to expire at
5:00 p.m. Toronto time on the next succeeding Business Day. 
  

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 1.6 Tender. Any tender of documents or money hereunder may be made upon the Parties or their respective counsel
and money shall be tendered by official bank draft drawn upon a Canadian chartered bank or by negotiable cheque payable in Canadian funds and certified by a Canadian bank listed in Schedule 1 to the Bank Act (Canada). 
 1.7 Additional Rules of Interpretation. 
 (1)
Gender and Number. In this Agreement, unless the context requires otherwise, words in one gender include all genders and words in the singular include the plural and vice versa. 
 (2) Headings and Table of Contents. The inclusion in this Agreement of headings of Articles and Sections and the provision of a table of contents
are for convenience of reference only and are not intended to be full or precise descriptions of the text to which they refer. 
 (3)
Section References. Unless the context requires otherwise, references in this Agreement to Sections, Schedules or Exhibits are to Sections, Schedules or Exhibits of this Agreement. 
 (4) Words of Inclusion. Wherever the words “include”, “includes” or “including” are used in this Agreement, they
shall be deemed to be followed by the words “without limitation” and the words following “include”, “includes” or “including” shall not be considered to set forth an exhaustive list. 
 (5) References to this Agreement. The words “hereof”, “herein”, “hereto”, “hereunder”, “hereby”
and similar expressions shall be construed as referring to this Agreement in its entirety and not to any particular Section or portion of it. 
 (6) Statute References. Unless otherwise indicated, all references in this Agreement to any statute include the regulations thereunder, in each case as amended, re-enacted, consolidated or replaced from time to time and in the case
of any such amendment, re-enactment, consolidation or replacement, reference herein to a particular provision shall be read as referring to such amended, re-enacted, consolidated or replaced provision and also include, unless the context otherwise
requires, all applicable guidelines, bulletins or policies made in connection therewith and which are legally binding. 
 (7) Document
References. All references herein to any agreement (including this Agreement), document or instrument mean such agreement, document or instrument as amended, supplemented, modified, varied, restated or replaced from time to time in accordance
with the terms thereof and, unless otherwise specified therein, includes all schedules and exhibits attached thereto. 
 1.8 Schedules and Exhibits.
The following are the Schedules and Exhibits attached to and incorporated in this Agreement by reference and deemed to be a part hereof: 
 EXHIBITS

  

			
	A	  	Share Transfer Form

  

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	B	  	Vendor’s Bring–Down Certificate
	C	  	Puchaser’s Bring–Down Certificate

 SCHEDULES 
  

			
	5.l(i)	 	Vendor Consents
	5.l(k)	 	Vendor Regulatory Approvals
	5.2(f)	 	Purchaser Consents
	5.2(g)	 	Purchaser Regulatory Approvals

 ARTICLE 2 
 PURCHASE OF SHARES 
 2.1 Agreement to Purchase and Sell. At the Closing Time subject to the
terms and conditions of this Agreement, the Vendor shall sell to the Purchaser, and the Purchaser shall purchase from the Vendor, the Shares. 
 2.2
Payment of Purchase Price. The purchase price payable by the Purchaser to the Vendor for the Shares shall be paid and satisfied by the Purchaser delivering at the Closing 5,O00,000 shares of [common stock] in the capital of the Purchaser issued
out of the Purchaser’s treasury (the “Purchaser Shares”). 
 2.3 SCL and Simplex Debt. 
 (1) Debt Satisfaction Shares. The Vendor agrees that 1 million of the Purchaser Shares (the “Debt Satisfaction Shares”) shall be used to
pay off the SCL Debt and Simplex Debt following the Closing Date. On the Closing Date, the Vendor shall deposit the Debt Satisfaction Shares into a brokerage account that is under the control of a three person committee (the “Debt
Satisfaction Committee”). 
 (2) Debt Satisfaction Committee. The Debt Satisfaction Committee shall be comprised of three members, two
of which shall be appointed by the Vendor and one of which shall be appointed by the Purchaser, and the initial members of the Debt Satisfaction Committee shall be the following: 
  

							
		 	Andy Ecclestone	  	- Vendor Appointee	  	
		 	Gary Jessop	  	- Vendor Appointee Jack	  	
		 	Bouroudjian	  	- Purchaser Appointee	  	

 A vacancy among the members of the Debt Satisfaction Committee shall be filled by the Party whose appointee has
ceased to be a member of the committee. A Party may at any time remove the person or persons nominated by it and fill the vacancy created by the removal of its appointee. The Debt Satisfaction Committee shall be disbanded in the event that the SCL
Line of Credit is terminated for any reason and immediately prior to such disbandment, the Debt Satisfaction Committee shall deliver or cause to be delivered to the Vendor any Debt Satisfaction Shares or any proceeds from the sale thereof that
remain under its control, including amounts to be paid back pursuant to the termination or repayment of the SCL Line of Credit. 
  

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 The Debt Satisfaction Committee shall have complete authority to sell the Debt Satisfaction Shares in such amount, at
such prices and at such times as it determines in the committees sole discretion. The net proceeds derived from the sale of the Debt Satisfaction Shares shall be used in the following order of priority: 
  

	 	(a)	first, to pay any expenses of the Debt Satisfaction Committee; 

  

	 	(b)	second, to pay off the SCL Debt; 

  

	 	(c)	third, to pay off the Simplex Debt; and 

  

	 	(d)	If there is any amount outstanding following the payment of the amounts set out in (a), (b) and (c) above, the balance (excluding any amounts required to satisfy any
expenses of the Debt Satisfaction Committee as from time to time incurred) shall be made available to SCL on a revolving loan facility by the Vendor (“SCL Line of Credit”) in accordance to the provisions set out in
Section 2.3(5) hereof. 

 Decisions made by the Debt Satisfaction Committee shall be final and shall be on the unanimous agreement of the
members of the committee. 
 (3) SCL Debt Statement. 
 (1) SCL Debt Statement. On a date that is at least five (5) Business Days prior to the Closing Date; the Vendor shall deliver to the Purchaser
a draft of the list of debts comprising the SCL Debt as at the Closing Date (the “SCL Debt Statement”). If the Purchaser does not give the Vendor a notice that it objects to the SCL Debt as provided in the SCL Debt Statement, on or
before two (2) Business Days prior to the Closing Date, the Purchaser shall be deemed to have accepted the SCL Debt Statement and the calculation of the amount of the SCL Debt as set out therein which shall be final and binding on the Parties
for the purpose of this Agreement. 
 (2) Dispute. If the Purchaser objects to any matter in the SCL Debt Statement or the amount of
the SCL Debt as set out therein, the Purchaser shall give notice to the Vendor no later than two (2) Business Days prior to the Closing Date. Any notice given by the Purchaser shall set forth in detail the particulars of such objection. The
Parties shall then use reasonable efforts to resolve such objection for a period of 30 days following the giving of such notice. If the matter is not resolved by the end of such 30 day period, then the dispute with respect to such objection shall be
submitted by the Parties to a chartered accountant associated with an accounting firm of recognized national standing in the United Kingdom, which is independent of the Parties (the “Independent UK Accountant”). If the Parties are
unable to agree on the Independent UK Accountant within a further 10 day period, either Party may apply under the Arbitration Act, 1991 (Ontario) to have a court appoint the Independent UK Accountant. The Independent UK Accountant shall, as
promptly as practicable (but in any event within 45 days following its appointment), make a determination of the SCL Debt Statement, based solely on written submissions of the Parties given by them to the Independent UK Accountant. The 

  

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submissions of each Party shall be disclosed to the other Party and each other Party shall be afforded a reasonable opportunity to respond thereto. The
decision of the Independent UK Accountant as to the SCL Debt Statement and the SCL Debt amount as stated therein shall be final and binding upon the Parties and shall constitute the SCL Debt for purposes of this Agreement. The Purchaser shall pay
the fees and expenses of the Independent UK Accountant with respect to the resolution of the dispute. 
 (4) Simplex Debt Statement.

 (1) Simplex Debt Statement. On a date that is at least five (5) Business Days prior to the Closing Date, the Vendor shall
deliver to the Purchaser a draft of the list of debts comprising the Simplex Debt as at the Closing Date (the “Simplex Debt Statement”). If the Purchaser does not give the Vendor a notice that it objects to the Simplex Debt as
provided in the Simplex Debt Statement, on or before two (2) Business Days prior to the Closing Date, the Purchaser shall be deemed to have accepted the Simplex Debt Statement and the calculation of the amount of the Simplex Debt as set out
therein which shall be final and binding on the Parties for the purpose of this Agreement. 
 (2) Dispute. If the Purchaser objects to
any matter in the Simplex Debt Statement or the amount of the Simplex Debt as set out therein, the Purchaser shall give notice to the Vendor no later than two (2) Business Days prior to the Closing Date. Any notice given by the Purchaser shall
set forth in detail the particulars of such objection. The Parties shall then use reasonable efforts to resolve such objection for a period of 30 days following the giving of such notice. If the matter is not resolved by the end of such 30 day
period, then the dispute with respect to such objection shall be submitted by the Parties to a chartered accountant associated with an accounting firm of recognized national standing in Canada, which is independent of the Parties (the
“Independent Canadian Accountant”). If the Parties are unable to agree on the Independent Canadian Accountant within a further 10 day period, either Party may apply under the Arbitration Act, 1991 (Ontario) to have a court
appoint the Independent Canadian Accountant. The Independent Canadian Accountant shall, as promptly as practicable (but in any event within 45 days following its appointment), make a determination of the Simplex Debt Statement, based solely on
written submissions of the Parties given by them to the Independent Canadian Accountant. The submissions of each Party shall be disclosed to the other Party and each other Party shall be afforded a reasonable opportunity to respond thereto. The
decision of the Independent Canadian Accountant as to the Simplex Debt Statement and the Simplex Debt amount as stated therein shall be final and binding upon the Parties and shall constitute the Simplex Debt for purposes of this Agreement. The
Purchaser shall pay the fees and expenses of the Independent Canadian Accountant with respect to the resolution of the dispute. 
 (5) SCL Line of
Credit. In the event that there remains any of the Debt Satisfaction Shares and/or funds from the sale of the Debt Satisfaction Shares following the payment of the SCL Debt and the Simplex Debt, such shares and/or amount shall be available
for the SCL Line of Credit on such terms as determined by the Debt Satisfaction Committee, and agreed to by the Vendor, which shall include at least the following terms. 
  

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	 	(a)	SCL shall be required to enter into a written loan agreement in favour of the Vendor for the SCL Line of Credit. 

  

	 	(b)	SCL to pay interest at the Prime Rate plus 3% p.a., payable monthly by SCL to the Vendor, on any amounts outstanding under the SCL Line of Credit. 

  

	 	(c)	SCL shall be required to immediately repay any amounts outstanding under the SCL Line of Credit, including any accrued and unpaid interest thereon, on the following basis (an
“Event of Default”): (a) if SCL neglects to pay any interest on the SCL Line of Credit within 30 days of the due date for such amount; (b) SCL ceases to carry on business; (c) SCL ceases to pay its debts as they
become due; (d) SCL makes an assignment for the benefit of creditors or a proposal under the Bankruptcy and Insolvency Act (Canada) (or its United Kingdom equivalent) or if a receiving order is made against SCL, or if any person takes
possession of any asset or shares of SCL, or if an execution or any similar process is levied or enforced upon or against the assets of SCL and remains unsatisfied for a period of 30 days; or (e) if there is a change of control of SCL and/or
SCL is merged, amalgamated or acquired by another person other than the Purchaser (including if a substantial portion of the assets or undertaking of SCL is sold to a third party). 

  

	 	(d)	The SCL Line of Credit shall terminate in the event that any Event of Default shall occur and on such termination all amounts in relation to the SCL Line of Credit and any Debt
Satisfaction Shares that may then remain outstanding shall be paid over to the Vendor for its sole and exclusive use. 

 (6)
Dispute Not Settled. Until such time as the Purchaser shall have accepted both of the SCL Debt Statement and Simplex Debt Statement, the Debt Satisfaction Committee shall not use any of the proceeds from the sale of the
Debt Satisfaction Shares to pay any of the SCL Debt and Simplex Debts but shall be free to use such proceeds to pay any expenses of the Debt Satisfaction Committee and its members incurred to carry out their duties under this Agreement. 

(7) Acknowledgement. The Parties acknowledge and agree that notwithstanding the above, SCL shall remain responsible for the payments of the SCL Debt and
following the Closing Date, the Vendor’s responsibility for such debt shall be restricted to placing the Debt Satisfaction Shares under the control of the Debt Satisfaction Committee to be dealt with in the manner as set out above. The Parties
also acknowledge that the Vendor shall be free to deal with the remaining Purchaser Shares as it sees fit without any requirement to account to SCL and/or the Purchaser for such use. 
 ARTICLE 3 
 CLOSING ARRANGEMENTS 
 3.1 Closing. The Closing shall take place at 3:00 pm (the “Closing Time”) on the Closing Date at the offices of Blake, Cassels &
Graydon LLP, 199 Bay Street, Suite 2800, Commerce Court West, Toronto Ontario, or at such other time or place as may be agreed upon orally or in writing by the parties to this Agreement. 
  

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 3.2 Vendor’s Closing Deliveries. At the Closing, the Vendor shall deliver or cause to be delivered to the
Purchaser against delivery by the Purchaser of the items listed in Section 3.3 below, the following: 
  

	 	(a)	the certificate or certificates representing the Shares, duly endorsed in blank for transfer; 

  

	 	(b)	a transfer of the Shares in the form of Exhibit A, duly executed by the Vendor; 

  

	 	(c)	a certificate of the Vendor dated as of the Closing Date, in the form attached as Exhibit B; 

  

	 	(d)	a certified copy of a resolution of the board of directors of SCL authorizing the transfer of the Shares from the Vendor to the Purchaser; 

  

	 	(e)	a certified copy of a resolution of the shareholders of the Vendor authorizing the transfer of the Shares from the Vendor to the Purchaser; 

  

	 	(f)	evidence in a form satisfactory to the Purchaser, acting reasonably, that the Consents and Regulatory Approvals required to be obtained in regards to the sale of the Shares to the
Purchaser have been obtained; and 

  

	 	(g)	all such other assurances, consents, agreements, documents and instruments as may be reasonably required by the Purchaser to complete the transactions provided for in this
Agreement. 

 3.3 The Purchaser’s Closing Deliveries. At the Closing, the Purchaser shall deliver or cause to be delivered to the
Vendor, against delivery by the Vendor of the items listed in Section 3.2 above, the following: 
  

	 	(a)	the certificate or certificates representing the Purchaser Shares registered in the name of the Vendor or as the Vendor may otherwise direct in writing; 

  

	 	(b)	a certificate of the Vendor dated as of the Closing Date, in the form attached as Exhibit B; 

  

	 	(c)	a certified copy of the board of directors of the Purchaser authorizing the issuance of shares to the Vendor; 

  

	 	(d)	evidence in a form satisfactory to the Vendor, acting reasonably, that the Consents and Regulatory Approvals required to be obtained in regards to the issuance of the Purchaser
Shares to the Vendor have been obtained; and 

  

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	 	(e)	all such other assurances, consents, agreements, documents and instruments as may be reasonably required by the Vendor to complete the transactions provided for in this Agreement.

 ARTICLE 4 
 CONDITIONS OF CLOSING 
 4.1 The Purchaser’s Conditions. The Purchaser shall not be obliged to complete the purchase and sale of
the Shares pursuant to this Agreement unless, at or before the Closing Time, each of the following conditions has been satisfied, it being understood that the following conditions are included for the exclusive benefit of the Purchaser. The Vendor
shall take all such actions, steps and proceedings as are reasonably within its control as may be necessary to ensure that the conditions set out in Section 4.1 are fulfilled at or before the Closing Time: 
 (a) Representations, Warranties, and Covenants. The representations, warranties, and covenants of the Vendor in Section 5.1 shall be true and
correct at the Closing Time. 
 (b) Vendor’s Compliance. The Vendor shall have performed and complied with, or caused to be
performed or complied with, all of the terms and conditions in this Agreement on his part to be performed or complied with at or before Closing and shall have executed and delivered or caused to have been executed and delivered to the Purchaser at
the Closing all the documents contemplated in Section 3.2 or elsewhere in this Agreement. 
 (c) Good Title. The Vendor shall
have good and marketable title to the Shares, free and clear of any and all Liens of any kind and nature whatsoever. 
 (d) Consents.
All the Consents required in regards to the sale of the Shares to the Purchaser shall have been obtained to the satisfaction of the Purchaser, 
 (e) Regulatory Approvals of Vendor. All of the Regulatory Approvals in regards to the sale of the Shares to the Purchaser required by the Vendor shall have been obtained. 
 4.2 Condition not Fulfilled. If any condition in Section 4.1 has not been fulfilled at or before the Closing Time or if any condition is or becomes impossible to satisfy, other than as a result of the
failure of the Purchaser to comply with its obligations under this Agreement, then the Purchaser in its sole discretion may, without limiting any rights or remedies available to the Purchaser at law or in equity, either: 
  

	 	(a)	terminate this Agreement by notice to the Vendor, as provided in Section 10.1; or 

  

	 	(b)	waive compliance with any such condition without prejudice to its right of termination in the event of non-fulfilment of any other condition. 

 4.3 Vendor’s Conditions. The Vendor shall not be obliged to complete the transactions contemplated by this Agreement unless, at or before the Closing Time,
each of the conditions listed below in this Section 4.3 has been satisfied, it being understood that the following conditions are included for the exclusive benefit of the Vendor. The Purchaser shall take all such actions, steps and 

  

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proceedings as are reasonably within the Purchaser’s control as may be necessary to ensure that the conditions listed below in this Section 4.3 are
fulfilled at or before the Closing Time: 
 (a) Representations, Warranties, and Covenants. The representations, warranties and
covenants of the Purchaser in Section 5.2 shall be true and correct at the Closing Time. 
 (b) The Purchaser’s Compliance.
The Purchaser shall have performed and complied with all of the terms and conditions in this Agreement on its part to be performed or complied with at or before the Closing Time and shall have executed and delivered or caused to have been
executed and delivered to the Vendor at the Closing Time all the documents contemplated in Section 3.3 or elsewhere in this Agreement. 
 (c) Consents. All the Consents required in regards to the issuance of the Purchaser Shares to the Vendor shall have been obtained to the satisfaction of the Vendor, 
 (d) Regulatory Approvals of Vendor. All of the Regulatory Approvals in regards to the issuance of the Purchaser Shares to the Vendor shall have
been obtained. 
 (e) Consents and Approvals. All the Consents and Approvals required shall have been obtained to the satisfaction of
the Vendor, including shareholder and regulatory approvals, necessary to complete the transaction. 
 (f) ONE Signature Financial
Corporation. The Vendor shall have completed a transaction with ONE Signature Financial Corporation to acquire its 1% share interest in SCL. 
 4.4
Condition not Fulfilled. If any condition in Section 4.3 has not been fulfilled at or before the Closing Time or if any condition is or becomes impossible to satisfy, other than as a result of the failure of the Vendor to comply with its
obligations under this Agreement, then the Vendor in its sole discretion may, without limiting any rights or remedies available to the Vendor at law or in equity, either: 
  

	 	(a)	terminate this Agreement by notice to the Purchaser, as provided in Section 10.2; or 

  

	 	(b)	waive compliance with any such condition without prejudice to its right of termination in the event of non-fulfilment of any other condition. 

 ARTICLE 5 
 REPRESENTATIONS,
WARRANTIES AND COVENANTS 
 5.1 Representations, Warranties and Covenants of the Vendor. As a material inducement to the Purchaser entering into
this Agreement and completing the transactions contemplated by this Agreement and acknowledging that the Purchaser is entering into this Agreement in reliance upon the representations, warranties and covenants of the Vendor set out in
Section 5.1, the Vendor hereby represents, warrants and covenants to the Purchaser as follows: 
  

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 (a) Incorporation and Corporate Power of Vendor. The Vendor is a corporation incorporated,
organized and subsisting under the laws of the jurisdiction of its incorporation. The Vendor has the corporate power, authority and capacity to execute and deliver this Agreement and all other agreements and instruments to be executed by it as
contemplated herein and to perform its other obligations hereunder and under all such other agreements and instruments. The Vendor has the corporate power, authority and capacity to own and dispose of the Shares to the Purchaser. No act or
proceeding has been taken or authorized by or against the Vendor by any other Person in connection with the dissolution, liquidation, winding up, bankruptcy or insolvency of the Vendor or with respect to any amalgamation, merger, consolidation,
arrangement or reorganization of, or relating to, the Vendor and, to the knowledge of the Vendor, no such proceedings have been threatened by any other Person. 
 (b) Ownership of Shares. The Vendor will at the Closing Time be the only registered and beneficial holder of the Shares with good and marketable title thereto, free and clear of all Liens. 
 (c) Resident. The Vendor is not a non-resident of Canada within the meaning of Section 116 of the Income Tax Act (Canada). 

(d) No Options. No Person, other than the Purchaser, has any agreement, option, right or privilege capable of becoming an agreement for the
purchase from the Vendor of any of the Shares. 
 (e) Enforceability of Obligations. This Agreement constitutes a valid and binding
obligation of the Vendor enforceable against the Vendor in accordance with its terms, subject to limitations with respect to enforcement imposed by law in connection with bankruptcy, insolvency, reorganization or other laws affecting creditors’
rights generally and to the extent that equitable remedies such as specific performance and injunction are only available in the discretion of the court from which they are sought. 
 (f) Authorization. The execution and delivery of this Agreement and all other agreements and instruments to be executed by it as contemplated
herein and the completion of the transactions contemplated hereby and, on the Closing Date, will have been duly authorized by all necessary corporate action on the part of the Vendor and its shareholders 
 (g) Bankruptcy of Vendor. The Vendor has not committed an act of bankruptcy (within the meaning of the Bankruptcy and Insolvency Act
(Canada) nor made an assignment in favour of its creditors nor made a proposal in bankruptcy to its creditors or any class thereof nor had any petition for a receiving order presented in respect of it. The Vendor has not initiated proceedings
with respect to a compromise or arrangement with its creditors nor initiated any proceedings for its winding up, liquidation or dissolution. No receiver has been appointed in respect of the Vendor or any of the Shares and no execution or distress
has been levied upon any of the Shares. 
 (h) Organization of SCL. SCL is duly incorporated and validly subsisting under the laws of
the United Kingdom. SCL is licensed or qualified to do business under the laws of each jurisdiction where each is carrying on its business. SCL has full corporate power to carry on its business and to own and operate its assets, properties and
business as now carried on and owned and operated. 
  

 13 

 (i) Total Shares. The Shares represent all of the issued and outstanding share capital of SCL.
There are no options, warrants, subscriptions, conversion rights, calls, commitments, plans, agreements or other rights of any kind outstanding which would enable any Person to purchase or otherwise acquire any of the shares or other securities of
SCL including, without limitation, any security convertible into or exchangeable or exercisable for shares or other securities of SCL. 
 (j) Consents. Except as set out in Schedule 5.l(i), no consent or approval of any Person is required in connection with the execution and delivery of this Agreement by the Vendor and the sale of the Shares as contemplated by this
Agreement. 
 (k) Regulatory Approvals. Except as set forth in Schedule 5.l(k), no Regulatory Approval or filing with, notice to, or
waiver from any Governmental Authority is required to be obtained or made by the Vendor in connection with the execution and delivery by the Vendor of, and performance by the Vendor of its obligations under, this Agreement or the consummation of the
transactions contemplated hereby. 
 5.2 Representations, Warranties and Covenants of the Purchaser. As a material inducement to the Vendor entering
into this Agreement and completing the transactions contemplated by this Agreement and acknowledging that the Vendor is entering into this Agreement in reliance upon the representations, warranties and covenants of the Purchaser set out in this
Section 5.2, the Purchaser hereby represents, warrants and covenants to the Vendor as follows: 
 (a) Incorporation and Power. The
Purchaser is a corporation duly incorporated, organized and subsisting under the laws of the jurisdiction of its incorporation. The Purchaser has full corporate power, authority and capacity to execute and deliver this Agreement and all other
agreements and instruments to be entered into by it as contemplated herein and to perform its obligation under this Agreement and under all such other agreements and instruments. 
 (b) Authorization. The execution and delivery of this Agreement and such other agreements and instruments and the completion of the transactions
contemplated by this Agreement and such other agreements and instruments have been authorized by all necessary corporate action on the part of the Purchaser. 
 (c) Total Shares. The issued and outstanding share capital of the Purchaser consists of 12,757,617 common shares, and the Purchaser has no outstanding options, warrants or other rights to acquire any of its
securities nor has the Purchaser created any stock option or share incentive plan. 
 (d) Enforceability of Obligations. This
Agreement constitutes a valid and binding obligation of the Purchaser enforceable against the Purchaser in accordance with its terms subject, however, to limitations on enforcement imposed by bankruptcy, insolvency, reorganization or other laws
affecting creditors’ rights generally and to the extent that equitable remedies such as specific performance and injunctions are only available in the discretion of the court from which they are sought. 
  

 14 

 (e) Bankruptcy of the Purchaser. The Purchaser has not committed an act of bankruptcy (within the
meaning of the Bankruptcy and Insolvency Act (Canada) or its equivalent in the United States) nor made an assignment in favour of its creditors nor made a proposal in bankruptcy to its creditors or any class thereof nor had any petition for a
receiving order presented in respect of it. The Purchaser has not initiated proceedings with respect to a compromise or arrangement with its creditors nor initiated any proceedings for its winding up, liquidation or dissolution. No receiver has been
appointed in respect of the Purchaser or any of the shares or assets of the Purchaser and no execution or distress has been levied upon any of the shares or assets. 
 (f) Consents. Except as set out in Schedule 5.2(f), no consent or approval of any Person is required in connection with the execution and delivery of this Agreement by the Purchaser and the issuance of
the Purchaser Shares to the Vendor as contemplated by this Agreement. 
 (g) Regulatory Approvals. Except as set forth in Schedule
5.2(g), no Regulatory Approval or filing with, notice to, or waiver from any Governmental Authority is required to be obtained or made by the Purchaser in connection with the execution and delivery by the Purchaser of, and performance by the
Purchaser of its obligations under, this Agreement or the consummation of the transactions contemplated hereby. 
 (h) Filings. The
Purchaser will promptly file all reports required to be filed by it with the Securities Exchange Commission and any other securities commissions under applicable securities legislation in connection with the issuance of the Purchaser Shares to the
Vendor. 
 (i) Listing. The issued and outstanding common shares of the Purchaser are listed and posted for trading on the OTCBB.

 (j) No Default. The Purchaser is not in default under any applicable securities legislation, in particular, without limiting the
foregoing, the Purchaser is in material compliance with its obligations to make timely disclosure of all material changes relating to it under applicable securities legislation. 
 (k) Purchaser Shares. The Purchaser Shares to be issued to the Vendor hereunder will at the Closing Time be duly and validly created and issued
and will be fully paid and non-assessable, free and clear of all Liens. 
 (l) No Order. No order, ruling or determination having the
effect of suspending the sale or ceasing the trading of the common shares of the Purchaser has been issued or made by the Securities and Exchange Commission or any applicable securities commission or stock exchange or any other regulatory authority
and is continuing in effect and no proceedings for that purpose have been instituted or are pending or, to the knowledge of the Purchaser, contemplated or threatened by any such authority or under any Applicable Laws 
 5.3 Survival of Representations and Warranties. 
 (a)
The representations and warranties of the Vendor contained in this Agreement or contained in any agreement, certificate or other document delivered or given pursuant to or in connection with this Agreement or the transactions provided for herein
shall survive the closing of the transactions, and regardless of any investigation by or on behalf of the Purchaser with respect thereto, shall 

  

 15 

 
continue in full force and effect for the benefit of the Purchaser for a period of one (1) year from the Closing Date, but there shall be no time limit
on the representations and warranties of the Vendor set out in Section 5.1 which relate to the authorization of this Agreement by the Vendor, the enforceability of the Vendor’s obligations under this Agreement or to the title of the
Shares, subject to the limitation that the damages able to be recovered by the Purchaser from the Vendor related to any representation or warranty provided for herein which is incorrect, where such incorrect representation or warranty was actually
known by the Purchaser prior to the Closing Date, shall be limited to damages caused by facts not actually known to the Purchaser at the Closing Date. 
 (b) The representations and warranties of the Purchaser contained in this Agreement or contained in any agreement, certificate or document delivered or given pursuant to or in connection with this Agreement or the
transactions provided for herein shall survive the closing of the transaction, and regardless of any investigation by or on behalf of the Vendor with respect thereto, shall continue in full force and effect for the benefit of the Vendor for a period
of one (1) year from the Closing Date, but there shall be no time limit on the representations and warranties of the Purchaser set out in Section 5.2 which relate to the authorization of this Agreement by the Purchaser; the due issuance of
the Purchaser Shares; and the enforceability of the Purchaser’s obligations under this Agreement, subject to the limitation that damages able to be recovered by the Vendor from the Purchaser related to any representation or warranty provided
for herein which is incorrect, where such incorrect representation or warranty was known by the Vendor prior to the Closing Date, shall be limited to damages caused by facts not actually known to the Vendor at the Closing Date. 
 ARTICLE 6 
 INDEMNIFICATION

 6.1 Survival. All provisions of this Agreement and of any other agreement, certificate or instrument delivered pursuant to this Agreement,
other than the conditions in Article 4 hereof, shall not merge on Closing but shall survive the execution, delivery and performance of this Agreement, the Closing and the execution and delivery of any transfer documents or other documents of title
to the Shares and/or the Purchaser Shares, and all other agreements, certificates and instruments delivered pursuant to this Agreement and the payment of the consideration for the Shares and/or the Purchaser Shares. 
 6.2 Indemnity by the Vendor. The Vendor shall indemnify and hold the Purchaser, its directors, officers, employees, agents, representatives and the
Purchaser’s Affiliates and their respective directors, officers and employees (the “Indemnified Parties”) harmless in respect of any claim, demand, action, cause of action, damage, loss, cost, liability or expense
(“Claim”) which may be made or brought against an Indemnified Party or which it may suffer or incur directly or indirectly as a result of, in respect of or arising out of: 
  

	 	(a)	any incorrectness in or breach of any applicable representation or warranty of the Vendor contained in this Agreement or under any other agreement, certificate or instrument
executed and delivered pursuant to this Agreement; or 

  

 16 

	 	(b)	any breach of or any non-fulfilment of any applicable covenant or agreement on the part of the Vendor under this Agreement or under any other agreement, certificate or instrument,
executed and delivered pursuant to this Agreement. 

 6.3 Indemnity by the Purchaser. The Purchaser shall indemnify and hold the Vendor
harmless in respect of any Claim which may be made or brought against an Indemnified Party or which it may suffer or incur directly or indirectly as a result of in respect of or arising out of: 
  

	 	(a)	any incorrectness in or breach of any representation or warranty of the Purchaser contained in this Agreement or under any other agreement, certificate or instrument executed and
delivered pursuant to this Agreement; or 

  

	 	(b)	any breach of or any non-fulfilment of any covenant or agreement on the part of the Purchaser under this Agreement or under any other agreement, certificate or instrument executed
and delivered pursuant to this Agreement. 

 ARTICLE 7 
 REGISTRATION RIGHTS 
 7.1 Registration of Purchaser Shares The Purchaser agrees to
prepare, file and keep effective for not less than ninety (90) days a registration statement under the Securities Act of 1933 the Purchaser Shares in the United States on the following basis: (a) 1 million of the shares on or
before six months from the Closing Date; (b) an additional 1 million of the shares on or before 12 months following the Closing Date; (c) an additional 1 million of the shares on or before 18 months following the Closing Date; and
(d) an additional 1 million of the shares on or before 24 months following the Closing Date. For clarity, the Purchaser Shares referenced above are exclusive of the 1 million Purchaser Shares to be delivered to the Debt Satisfaction
Committee on the Closing. 
 Registrations under this section shall be on such appropriate registration form or prospectus as shall be selected by the
Purchaser and as shall be reasonably acceptable to the Vendor and as shall permit the disposition of the Purchaser Shares on the OTCBB or such other public trading market that is acceptable to the Vendor. 
 7.2 Shareholder Information It shall be a condition precedent to the obligations of the Purchaser to take any action pursuant to this Article 7 that the Vendor
shall furnish to the Purchaser such information regarding the Vendor, its Purchaser Shares, and the intended method of disposition thereof as the Purchaser shall reasonably request and as shall be required in connection with the action to be taken
by the Purchaser. 
 7.3 Expenses of Registration All expenses incurred in connection with a registration pursuant to section 7.1, including without
limitation all registration and qualification fees, printing and fees and disbursements of counsel for the Purchaser and all account fees shall be borne by the Purchaser. 
  

 17 

 7.4 Indemnification. 
  

	(a)	The Purchaser will indemnify, defend and hold harmless the Vendor and each of its officers, directors, representatives, advisors, controlling persons and affiliates (collectively,
the Vendor Indemnified Parties”) with respect to which registration, qualification or compliance has been effected pursuant to this Article 7 against all expenses, claims, losses, damages and liabilities (or actions, proceedings or settlements
in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any prospectus, offering circular or other document (including any related registration statement, notification or the
like) incident to any such registration, qualification or compliance, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any
violation by the Purchaser of applicable securities legislation or any rule or regulation thereunder applicable to the Purchaser and relating to action or inaction required of the Purchaser in connection with any such registration, qualification or
compliance, and will reimburse the Vendor Indemnified Parties for any legal and any other expenses reasonably incurred in connection with investigating and defending or settling any such claim, loss, damage, liability or action, provided that the
Purchaser will not be liable in any such case to the extent that any such claim, loss, damage, liability or expense arises out of or is based on any untrue statement or omission based upon written information furnished to the Purchaser by the Vendor
to be used for information to be included in the offering document. 

  

	(b)	The Vendor will indemnify, defend and hold harmless the Purchaser, each of its directors and controlling persons, and each of its officers who has signed a registration statement
effected pursuant to Article 7 hereof with respect to which registration, qualification or compliance has been effected pursuant to this Article 7 against all expenses, claims, losses, damages and liabilities (or actions, proceedings or settlements
in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any prospectus, offering circular or other document (including any related registration statement, notification or the
like) incident to any such registration, qualification or compliance if such statement or omission was made in reliance upon and in conformity with written information furnished to the Purchaser by the Vendor and to be used for information to be
included in any prospectus, offering circular or other document for the purpose of registering or qualifying the Purchaser Shares, or based on any omission (or alleged omission) to state in such written information required to be furnished to the
Purchaser by the Vendor for use in any prospectus, offering circular or other document for the purpose of registering or qualifying the Purchaser Shares a material fact required to be stated therein or necessary to make the statements therein not
misleading. 

  

	(c)	Promptly after receipt by an indemnified party under this section 7.4 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to
be made against any indemnifying party in writing of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the indemnifying party desires, jointly with any other indemnifying party similarly
noticed, to assume the defence thereof with counsel mutually satisfactory to the parties. The failure to notify an indemnifying party promptly of the commencement of any such action, if prejudicial to its ability to defend such action, shall relieve
such indemnifying party of any liability to the indemnified party under this section 7.4, but the omission so to notify the indemnifying party will not relieve it of any liability which it may have to any indemnified party otherwise than under this
section 7.4. 

  

 18 

 ARTICLE 8 
 INTERIM PERIOD 
 8.1 Confidentiality. 
  

	 	(a)	Each party shall (and shall cause each of its Representatives (as defined below to) hold in strictest confidence and not use in any manner, other than as expressly contemplated by
this Agreement, any Confidential Information (as defined below) of the other parties. 

  

	 	(b)	Section 8.1(a) shall not apply to the disclosure of any Confidential Information where such disclosure is required by Applicable Law. In that case, the party required to
disclose (or whose Representative is required to disclose) shall, as soon as possible in the circumstances, notify the affected party of the requirement. Upon receiving such notification, the affected party may take any reasonable action to
challenge the requirement, and the affected party shall (or shall cause the applicable Representative to), at the expense of the affected party, assist the disclosing party in taking such reasonable action. 

  

	 	(c)	Following the termination of this Agreement, or on request from the disclosing party at any time, each party shall (and shall cause each of its Representatives to) promptly return
to the requesting party all copies of any tangible items (other than this Agreement), if any, which are or which contain Confidential Information of the requesting party; provided that if the party so obligated to return Confidential Information or
its Representatives have prepared summaries or analyses containing or concerning any Confidential Information, then such party may, instead of returning the summaries or analyses, destroy them and provide a certificate to that effect to the
requesting party. 

  

	 	(d)	For the purposes of this Section 8.1: 

  

	 	(i)	“Confidential Information” of a party at any time means all information relating to such party’s business (including business plans, way of doing business,
business results and prospects and customer lists), in whatever form communicated or maintained, which, 

  

	 	(A)	at the time is of a confidential nature (whether or not specifically identified as confidential) and is known or should be known by any other party or their respective
Representatives as being confidential, and 

  

	 	(B)	has been or is from time to time made known to or is otherwise learned by any other party or any of their respective Representatives, as applicable, as a result of the matters
provided for in this Agreement, 

  

 19 

 including the following information: 
  

	 	(C)	the terms of this Agreement; and 

  

	 	(D)	a party’s business records, 

 but not including any
information that at such time: 
  

	 	(E)	has become generally available to the public other than as a result of a disclosure by any other party or any of their respective Representatives, as applicable;

  

	 	(F)	was available to any other party or their respective Representatives, as applicable, on a non-confidential basis before the date of this Agreement; or 

  

	 	(G)	becomes available to any other party or their respective Representatives, as applicable, on a non-confidential basis from a Person other than the first-mentioned party or any of its
Representatives who is not, to the knowledge of such other party or its Representatives, otherwise bound by confidentiality obligations to such first-mentioned party in respect of such information or otherwise prohibited from transmitting the
information to the other party or its Representatives; and 

  

	 	(ii)	“Representatives” with respect to any party means its Affiliates and its and their respective directors, officers, employees, agents and other representatives and
advisers. 

 8.2 Risk of Loss. Until the Closing, the Vendor shall cause SCL to maintain in force all the policies of property damage
insurance under which any of the assets is insured. If before the Closing any of the assets of SCL is lost, damaged or destroyed and the loss, damage or destruction constitutes all or a substantial portion of the property or assets of SCL, then:

  

	 	(a)	the Purchaser may terminate this Agreement by notice to the Vendor, as provided in Section 10.1; or 

  

	 	(b)	the Purchaser shall complete the transaction and the Purchaser may require the Vendor to reduce the Purchase Price by the amount of the replacement cost of the assets of SCL which
were lost, damaged or destroyed less the amount of any proceeds of insurance payable as a result of the occurrence. 

 8.3 Exclusive
Dealings. During the Interim Period, the Vendor shall not take any action, directly or indirectly, to encourage, initiate or engage in discussions or negotiations with, or provide any information to any Person, other than the Purchaser and its
designated and authorized representatives, concerning any sale, transfer, assignment of the Shares or the assets or the merger or similar transaction involving SCL. The Vendor shall notify the Purchaser promptly if any such discussions or
negotiations are sought or if any proposal for a sale, transfer or assignment of the Shares or the assets or the merger of SCL or similar transaction is received or being considered. 
  

 20 

 ARTICLE 9 
 DISPUTE RESOLUTION 
 9.1 Dispute Resolution. The Parties hereby agree that they will use reasonable best
efforts to resolve any disputes arising out of this Agreement in a co-operative and expeditious manner. To this effect, following notice of any party to the other of a disagreement (which shall include any failure to agree upon a matter to be agreed
upon) the parties hereto shall consult and negotiate with one another in good faith an understanding to reach a just and equitable solution. If those attempts fail after a period of ten (10) Business Days from the time the parties have been
notified in writing of the disagreement, then every such disagreement shall be referred to arbitration in the English language in the City of Ottawa, Ontario to be held before one (1) arbitrator who is mutually agreed to by the parties,
provided that, if the parties are unable to agree on an arbitrator within fifteen (15) days of receipt of the written notice, the arbitration shall be held before a panel of three (3) arbitrators. The seat of the arbitration shall be
Ottawa, Ontario, the language of the arbitration shall be English and the law used in the arbitration shall be the laws of the Province of Ontario and the laws of Canada applicable therein. 
 9.2 Cost of Arbitration. Notwithstanding the failure of any party to participate in the arbitration proceedings, the arbitrator may proceed to make an award and
the costs of the arbitration shall be borne equally by all participating parties to the arbitration. 
 9.3 Arbitration Award. The parties acknowledge
and agree that the award of the arbitrator shall be the sole and exclusive remedy of the parties and shall be enforceable in a court of competent jurisdiction. Notwithstanding the foregoing, the parties shall be entitled to seek injunctive relief or
other equitable remedies from any court of competent jurisdiction. Except where clearly prevented by the issue in dispute, the parties agree to continue performing their respective obligations under this Agreement and the other related agreements
entered into in connection with this Agreement while the dispute is being resolved unless and until such obligations are terminated or expire in accordance with the provisions hereof. 
 ARTICLE 10 
 TERMINATION 
 10.1 Grounds for Termination. 
 This Agreement may be
terminated on or prior to the Closing Date: 
  

	 	(i)	by the mutual written agreement of the Vendor and the Purchaser; 

  

	 	(ii)	by written notice from the Purchaser to the Vendor as permitted in Section 4.2 or 8.2; or 

  

 21 

	 	(iii)	by written notice from the Vendor to the Purchaser as permitted in Section 4.4. 

 10.2 Effect of Termination. If this Agreement is terminated: 
  

	 	(i)	by the Vendor or by the Purchaser under Section 10.1, subject to Section 10.2(b), all further obligations of the Parties under this Agreement shall terminate, except for
the obligations under Sections 8.1, 10.1 and 10.2, which shall survive such termination. 

  

	 	(ii)	by a Party under Section 10.1(b) or 10.1(c) and the right to terminate arose because of a breach of this Agreement by the other Party (including a breach by the other Party
resulting in a condition in favour of the terminating Party failing to be satisfied), then, the other Party shall remain fully liable for any and all Damages sustained or incurred by the terminating Party directly or indirectly as a result thereof.

 ARTICLE 11 
 GENERAL 
 11.1 Expenses. Except as otherwise expressly provided herein, each Party shall be responsible for all costs and expenses
(including any Taxes imposed on such expenses) incurred by it in connection with the negotiation, preparation, execution, delivery and performance of this Agreement and the transactions contemplated by this Agreement (including the fees and
disbursements of legal counsel, bankers, investment bankers, accountants, brokers and other advisers). 
 11.2 Further Assurances. Each of the parties
hereto from time to time at the request and expense of any other party hereto and without further consideration, shall execute and deliver such other instruments of transfer, conveyance and assignment and take such further action as the other party
may require to more effectively complete any matter provided for herein. 
 11.3 Public Announcements. Except to the extent otherwise required by
Applicable Law or with the prior consent of the other Party, neither Party shall make any public announcement regarding this Agreement or the transactions contemplated by this Agreement. 
 11.4 Payment of Taxes. Except as otherwise provided in this Agreement, the Purchaser shall pay all taxes applicable to, or resulting from transactions contemplated by this Agreement (other than taxes payable
under applicable legislation by the Vendor) and any filing or recording fees payable in connection with the instruments of transfers provided for in this Agreement. 
 11.5 Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto and except as herein stated and in the instruments and documents to be executed and delivered pursuant hereto,
contains all of the representations and warranties of the parties hereto and supersedes all prior agreements, negotiations and discussions, whether oral or written, including that letter of intent 

  

 22 

 
between the Parties dated on or about October 31, 2006. There are no oral representations or warranties among the parties hereto of any kind. This Agreement
may not be amended or modified in any respect except by written instrument signed by all the parties hereto. 
 11.6 Non-Merger. Each party hereby
agrees that all provisions of this Agreement, other than the conditions in Article 4 and the representations, warranties and covenants contained in Article 5 and the related indemnities in Sections 6.1 and 6.2 hereof (which shall be subject to the
special arrangements provided in such Articles or Sections) shall forever survive the execution and performance of this Agreement, Closing and the execution, delivery and performance of any and all documents delivered in connection with this
Agreement. 
 11.7 Applicable Law. This Agreement shall be governed by and construed in accordance with the laws of Ontario and the laws of Canada
applicable therein. 
 11.8 Amendment. No amendment of this Agreement shall be effective unless made in writing and signed by the Parties. 

11.9 Waiver. A waiver of any default, breach or non-compliance under this Agreement is not effective unless in writing and signed by the party to be bound by
the waiver. No waiver shall be inferred from or implied by any failure to act or delay in acting by a party in respect of any default, breach or non-observance or by anything done or omitted to be done by the other party. The waiver by a party of
any default, breach or non-compliance under this Agreement shall not operate as a waiver of that party’s rights under this Agreement in respect of any continuing or subsequent default, breach or non-observance (whether of the same or any other
nature). 
 11.10 Severability. Any covenant or provision hereof determined to be void or unenforceable in whole or in part shall not be deemed to
affect or impair the validity of any other covenant or provision hereof and the covenants and provisions hereof are declared to be separate and distinct. 
 11.11 Notices. Any notice required or permitted to be given hereunder shall be in writing and shall be effectively given if (i) delivered personally or (ii) sent by fax or other similar means of electronic communication, in
each case to the applicable address set out on the execution page of this Agreement. Any notice so given shall be deemed conclusively to have been given and received when so personally delivered or on the day of faxing or sending by other means of
recorded electronic communication, provided that such day in either event is a Business Day. Otherwise, such communication shall be deemed to have been given and made and to have been received on the next following Business Day. Any party hereto or
others mentioned above may change any particulars of its address for notice by notice to the others in the manner aforesaid. 
 11.12 Successors and
Assigns. This Agreement shall enure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, successors and assigns. Notwithstanding the foregoing, this Agreement shall not be assignable by
any party hereto without the express written consent of the other parties hereto. 
 11.13 Time of Essence. Time shall be of the essence of this
Agreement in all respects. 
  

 23 

 11.14 Counterparts and Facsimile. This Agreement may be executed by the parties in any number of separate
counterparts each of which, when so executed and delivered, shall be an original, but all such counterparts shall together constitute one and the same instrument. Counterparts may be executed either in original or faxed form and the parties adopt
any signatures received by a receiving fax machine as original signatures of the parties, provided, however that any party providing its signature in such manner shall promptly forward to the other party an original of the signed copy of this
Agreement which was so faxed. 
  

 24 

 CONFIDENTIAL 
 IN WITNESS WHEREOF this Agreement has been executed by the parties hereto on the date first written above. 
  

			
	SIMPLEX SOLUTIONS INC.
		
	Per:	 	 /s/ DANNY WEAVER

	Name	 	DANNY WEAVER
	Title	 	CEO
		
	Address:	 	  

		 	  

		 	  

	
	CAPITAL MARKET TECHNOLOGIES INC.
		
	Per:	 	  

	Name	 	  

	Title	 	  

		
	Address:	 	  

		 	  

		 	  

 EXHIBIT A 
 SHARE TRANSFER 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers to
CAPITAL MARKETS TECHNOLOGIES INC.                      shares in the capital of SIMPLEX CONSULTING LIMITED. registered in the name of
the undersigned. 
 Dated the             , 2008. 
  

			
	SIMPLEX SOLUTIONS INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT B 
 VENDOR’S BRING-DOWN CERTIFICATE 
  

	TO:	CAPITAL MARKETS TECHNOLOGIES INC. (the “Purchaser”) 

 This certificate is given pursuant to Section 3.2(c) of the Share Purchase Agreement dated November 15, 2007 (the “Agreement”) between SIMPLEX SOLUTIONS INC. (the “Vendor”)
and the Purchaser. Unless otherwise stated, capitalized terms used in this certificate have the meanings given to them in the Agreement. 
 I, •, the • of the Vendor, hereby certify, for and on behalf of the Vendor and without personal liability, as follows: 
  

	 	1.	All of the terms and conditions set out in the Agreement to be complied with or performed by the Vendor at or prior to Closing have been complied with or performed by the Vendor.

  

	 	2.	All of the representations and warranties set out in Section 5.1 of the Agreement are true and correct in all respects as of the date hereof, with the same force and effect as
if such representations and warranties were made on and as at the date hereof except to the extent that any of such representations and warranties are made as of a particular date, in which case I certify that they were true and correct as of that
date. 

 Dated the •, 2008. 
  

	
	  

	Name
	Title

 EXHIBIT C 
 PURCHASER’S BRING-DOWN CERTIFICATE 
  

	TO:	SIMPLEX SOLUTIONS INC. (the “Vendor”) 

 This certificate is given pursuant to Section 3.3(b) of the Share Purchase Agreement dated November 15, 2007 (the “Agreement”) between CAPITAL MARKETS TECHNOLOGIES INC. (the “Purchaser”) and the
Vendor. Unless otherwise stated, capitalized terms used in this certificate have the meanings given to them in the Agreement. 
 I, •,
the • of the Purchaser, hereby certify, for and on behalf of the Purchaser and without personal liability, as follows: 
  

	 	1.	All of the terms and conditions set out in the Agreement to be complied with or performed by the Purchaser at or prior to Closing have been complied with or performed by the
Purchaser. 

  

	 	2.	All of the representations and warranties set out in Section 3.2 of the Agreement are true and correct in all respects as of the date hereof, with the same force and effect as
if such representations and warranties were made on and as at the date hereof except to the extent that any of such representations and warranties are made as of a particular date, in which case I certify that they were true and correct as of that
date. 

 Dated the •, 2008. 
  

	
	  

	Name
	Title

 SCHEDULE 5.1(i) 
 Vendor Consents 
  

	1.	Approval of the shareholders of the Vendor. 

  

	2.	Consent of holders of convertible debentures of Vendor 

 SCHEDULE 5.1(j) 
 Vendor Regulatory Approvals 
  

	1.	Filing required documents with Canadian Trading and Quotation System Inc. (CNQ) 

  

	2.	Filing required pursuant to Securities Act (Ontario) 

 SCHEDULE 5.2(f) 
 Purchaser Consents 
 None 

 SCHEDULE 5.(g) 
 Purchaser Regulatory Approvals 
 None 
  

 2Strike IT Services Share Purchase Agreement

 Exhibit 10.4 
 DATED 
 18 January 2008 
 SHARE PURCHASE AGREEMENT 
 between 
 JONATHAN STRIKE 
 and 
 SHELLEY
STRIKE 
 and 
 CMT EUROPE LIMITED 

 CONTENTS 
  

					
	CLAUSE	  	
	1.	 	Interpretation	  	1
	2.	 	Sale and purchase and waiver of pre-emption rights	  	4
	3.	 	Purchase price	  	4
	4.	 	Adjustment of Purchase Price	  	5
	5.	 	Completion	  	6
	6.	 	Warranties	  	6
	7.	 	Limitations on claims	  	7
	8.	 	Tax covenant	  	8
	9.	 	Restrictions on Sellers	  	8
	10.	 	Confidentiality and announcements	  	10
	11.	 	Further assurance	  	11
	12.	 	Assignment	  	11
	13.	 	Whole agreement	  	11
	14.	 	Variation and waiver	  	12
	15.	 	Costs	  	12
	16.	 	Notice	  	12
	17.	 	Severance	  	14
	18.	 	Agreement survives completion	  	14
	19.	 	Third party rights	  	14
	20.	 	Successors	  	14
	21.	 	Counterparts	  	14
	22.	 	Language	  	15
	23.	 	Governing law and jurisdiction	  	15
		
	SCHEDULE	  	
		
	SCHEDULE 1 PARTICULARS OF SELLERS	  	16
			
	Part 1.	 	Particulars of sellers and apportionment of purchase price	  	16
		
	SCHEDULE 2 PARTICULARS OF THE COMPANY AND SUBSIDIARIES	  	17
			
	Part 1.	 	The Company	  	17
		
	SCHEDULE 3 COMPLETION	  	18
			
	Part 2.	 	What the Sellers shall deliver to the Buyer at Completion	  	18
			
	Part 3.	 	Matters for the board meetings at Completion	  	19
		
	SCHEDULE 4 WARRANTIES	  	20
			
	Part 4.	 	General warranties	  	20
	1.	 	Power to sell the company	  	20
	2.	 	Shares in the company	  	20
	3.	 	Constitutional and corporate documents	  	21
	4.	 	Information	  	21

					
	5.	 	Compliance with laws	  	22
	6.	 	Licences and consents	  	22
	7.	 	Insurance	  	22
	8.	 	Power of attorney	  	22
	9.	 	Disputes and investigations	  	22
	10.	 	Customers and suppliers	  	23
	11.	 	Contracts	  	23
	12.	 	Transactions with sellers	  	24
	13.	 	Finance and guarantees	  	25
	14.	 	Assets	  	26
	15,	 	Data protection	  	27
	16.	 	Employment	  	28
	17.	 	Property	  	32
	18.	 	Accounts	  	33
	19.	 	Financial and other records	  	34
	20.	 	Changes since accounts date	  	34
	21.	 	Effect of sale on sale shares	  	35
	22.	 	Retirement benefits	  	35
		
	SCHEDULE 5 TAX COVENANT	  	36
	1.	 	Interpretation	  	36
	2.	 	Covenant	  	39
	3.	 	Payment date and interest	  	40
	4.	 	Exclusions	  	40
	5.	 	Savings	  	41
	6.	 	Recovery from third parties	  	41
	7.	 	Corporation tax returns	  	42
	8.	 	Conduct of tax claims	  	43
	9.	 	Grossing up	  	45
	10.	 	Costs and expenses	  	46
		
	SCHEDULE 6 COMPLETION ACCOUNTS	  	47
			
	Part 5.	 	General	  	
	1.	 	Definitions	  	47
	2.	 	Preparation of Completion Accounts	  	47
	3.	 	Expert	  	48
	4.	 	Basis of computation	  	49

 THIS AGREEMENT is dated 18 January 2008 
 PARTIES 
  

	(1)	The several persons whose names and addresses are set out in Schedule 1 (Sellers). 

  

	(2)	CMT Europe Limited incorporated in the United Kingdom with company number 0612995 whose registered office is at St Quivox House, 69 Windsor Road, Gerrards Cross, Bucks SL9 7NL
(Buyer). 

 BACKGROUND 
  

	(A)	The Company has an issued share capital of £5 divided into 5 “A” Ordinary Shares of £1. 

  

	(B)	Further particulars of the Company at the date of this agreement are set out in Schedule 2. 

  

	(C)	The Sellers are the legal and beneficial owners of, or are otherwise able to procure the transfer of, the legal and beneficial title to the number of Sale Shares set out opposite
their respective names in Schedule 1 comprising in aggregate the whole of the issued share capital of the Company. 

  

	(D)	The Buyer is a wholly owned subsidiary of CMT Inc. 

  

	(E)	The Sellers have agreed to sell and the Buyer has agreed to buy the Sale Shares subject to the terms and conditions of this agreement. 

 AGREED TERMS 
  

	1.	INTERPRETATION 

  

	1.1	The definitions and rules of interpretation in this clause apply in this agreement. 

 Accounts: the financial statements of the Company as at and to the Accounts Date, comprising the accounts of the Company, including the balance sheet, profit and loss account together with the notes thereon,
and the cash flow statement (copies of which are attached to the Disclosure Letter). 
 Accounts Date: 30 June 2007 

 Business: the business of the Company. 
 Business Day: a day (other than a Saturday, Sunday or public holiday) when banks in the City of London are open for business. 
 Buyer’s Solicitors: IBB Solicitors of Capital Court, 30 Windsor Street, Uxbridge, Middlesex UB8 1AB. 
 CAA 2001: the Capital Allowances Act 2001. 
 Cash Consideration: £200,000. 
 Claim and Substantiated Claim: have the meanings set out respectively in clause 7. 
 CMT Inc.: Capital Markets Technologies Inc., a company incorporated under the laws of Florida. 
  

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 Company: STRIKE IT SERVICES LIMITED, a company incorporated and registered in England and Wales
with company number 4463915 whose registered office is at 45A Church Street, Weybridge, Surrey KT13 8DG further details of which are set out in Part 1 of Schedule 2. 
 Companies Acts: the Companies Act 1985 and the Companies Act 2006. 
 Completion: completion of
the sale and purchase of the Sale Shares in accordance with this agreement. 
 Completion Accounts: has the meaning set out in
paragraph 1 of Part 1 of Schedule 6. 
 Completion Date: the date of this agreement. 
 Connected: in relation to a person, has the meaning contained in section 839 of the ICTA 1988. 
 Consideration Shares: shares of $1 of CMT Inc. to be allotted and issued credited as fully paid to the Sellers in satisfaction of part of the
Purchase Price as provided in clause 3. 
 Control: in relation to a body corporate, the power of a person to secure that the affairs
of the body corporate are conducted in accordance with the wishes of that person: 
  

	 	(a)	by means of the holding of shares, or the possession of voting power, in or in relation to that or any other body corporate; or 

  

	 	(b)	by virtue of any powers conferred by the constitutional or corporate documents, or any other document, regulating that or any other body corporate, 

 and a Change of Control occurs if a person who controls any body corporate ceases to do so or if another person acquires control of it.

 Director: each person who is a director or shadow director of the Company or any of the Subsidiaries, the names of whom are set out
in Schedule 2. 
 Disclosed: fairly, fully. clearly and accurately disclosed (with sufficient details to identify the nature and scope
of the matter disclosed) in or under the Disclosure Letter. 
 Disclosure Letter: the letter from the Sellers to the Buyer with the
same date as this agreement and described as the disclosure letter, including the bundle of documents attached to it (Disclosure Bundle). 
 Encumbrance: any interest or equity of any person (including any right to acquire, option or right of pre-emption) or any mortgage, charge, pledge, lien, assignment, hypothecation, security, interest, title, retention or any other
security agreement or arrangement. 
 Event: has the meaning given in Schedule 5.  
 FSMA: the Financial Services and Markets Act 2000. 
  

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 Group: in relation to a company (wherever incorporated) that company, any company of which it is a
Subsidiary (its holding company) and any other Subsidiaries of any such holding company; and each company in a group is a member of the group. 
 Unless the context otherwise requires, the application of the definition of Group to any company at any time will apply to the company as it is at that time. 
 ICTA 1988: the Income and Corporation Taxes Act 1988. 
 IHTA 1984: the Inheritance Tax Act
1984. 
 Intellectual Property Rights: has the meaning given in Part 4 of Schedule 4. 
 Property: has the meaning given in paragraph 17.1 of Part 4 of Schedule 4. 
 Purchase Price: the purchase price for the Sale Shares to be paid or satisfied in accordance with clause 3. 
 Sale Shares: the five Ordinary A Shares of £1.00 each in the Company, all of which have been issued and are fully paid. 
 Tax or Taxation: has the meaning given in Schedule 5.  
 Tax Covenant: the tax covenant as set out in Schedule 5.  
 Tax Claim: has the meaning
given in Schedule 5.  
 Taxation Authority: has the meaning given in Schedule 5.  
 Taxation Statute: has the meaning given in Schedule 5.  
 TCGA 1992: the Taxation of Chargeable Gains Act 1992.  
 TMA 1970: the Taxes Management
Act 1970. 
 Transaction: the transaction contemplated by this agreement or any part of that transaction. 
 VATA 1994: the Value Added Tax Act 1994. 
 Warranties: the representations and warranties in clause 6 and Schedule 4. 
  

	1.2	Clause and schedule headings do not affect the interpretation of this agreement. 

  

	1.3	A person includes a corporate or unincorporated body. 

  

	1.4	Words in the singular include the plural and in the plural include the singular. 

  

	1.5	A reference to one gender includes a reference to the other gender. 

  

	1.6	A reference to a particular statute, statutory provision or subordinate legislation is a reference to it as it is in force from time to time taking account of any amendment or
re-enactment and includes any statute, statutory provision or subordinate legislation which it amends or re-enacts and subordinate legislation for the time being in force made under it. Provided that, as between the parties, no such amendment or
re-enactment made after the date of this agreement shall apply for the purposes of this agreement to the extent that it would impose any new or extended obligation, liability or restriction on, or otherwise adversely affect the rights of, any party.

  

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	1.7	Writing or written includes faxes but not e-mail. 

  

	1.8	Documents in agreed form are documents in the form agreed by the parties or on their behalf and initialled by them or on their behalf for identification.

  

	1.9	References to clauses and schedules are to the clauses and schedules of this agreement; references to paragraphs are to paragraphs of the relevant schedule.

  

	1.10	Unless otherwise expressly provided, the obligations and liabilities of the Sellers under this agreement are joint and several. 

  

	1.11	Reference to this agreement include this agreement as amended or varied in accordance with its terms. 

  

	2.	SALE AND PURCHASE AND WAIVER OF PRE-EMPTION
RIGHTS 

  

	2.1	On the terms of this agreement, the Sellers shall sell and the Buyer shall buy, with effect from Completion, the Sale Shares with full title guarantee, free from all Encumbrances
and together with all rights that attach (or may in the future attach) to them including, in particular, the right to receive all dividends and distributions declared, made or paid on or after the date of this agreement. 

  

	2.2	Each of the Sellers severally waives any right of pre-emption or other restriction on transfer in respect of the Sale Shares or any of them conferred on him under the articles of
association of the Company or otherwise and shall procure the irrevocable waiver of any such right or restriction conferred on any other person who is not a party to this agreement. 

  

	2.3	The Buyer is not obliged to complete the purchase of any of the Sale Shares unless the purchase of all the Sale Shares is completed simultaneously. 

  

	3.	PURCHASE PRICE 

  

	3.1	The Purchase Price for the Sale Shares is: 

  

	 	(a)	the Cash Consideration as adjusted in accordance with clause 4 and Schedule 6 of which: 

  

	 	(i)	£100,000 shall be paid on Completion as provided in clause 5.3; and 

  

	 	(ii)	the balance of £100,000 shall be paid on or before 31 March 2008 in cash to the Sellers in the proportions set out opposite their names in Schedule 1.

  

 4 

	 	(b)	£200,000 to be satisfied by the allotment and issue by CMT Inc on Completion to the Sellers of 450,000 Consideration Shares, credited as fully paid. 

 

	3.2	For the purposes of clause 3.1 the Consideration Shares shall rank pari passu with the existing shares of $1 each in the capital of CMT Inc. including the right to receive all
dividends declared made or paid after Completion (save that they shall not rank for any dividend or other distribution of CMT Inc. declared made or paid by reference to a record date before Completion). 

  

	3.3	The Purchase Price shall be deemed to be reduced by the amount of any payment made to the Buyer: 

  

	 	(a)	for a breach of any Warranty; or 

  

	 	(b)	under the Tax Covenant. 

  

	3.4	The Sellers undertake that they shall not, during a period of 18 months after Completion, without prior written consent of the Buyer and CMT Inc., dispose of or create any
Encumbrance over any of the Consideration Shares (or agree to do so). 

  

	3.5	For the purposes of clause 3.4, Consideration Shares shall include any shares held by the Sellers arising out of the consolidation, conversion or subdivision of Consideration Shares
and any shares acquired by reference to the Consideration Shares, whether by way of bonus or rights issue, pre-emption right or otherwise or in exchange or substitution for any such Consideration Shares. 

  

	3.6	The Buyer shall not unreasonably withhold its consent to any disposal of Consideration Shares to the extent that the sale proceeds (net of incidental costs) are required to meet any
liability of the Sellers arising out of any of the matters referred to in clauses 3.3(a) to clause 3.3(c). 

  

	3.7	The Buyer undertakes to the Sellers that if, due to impending changes in tax legislation, the second payment of £100,000 on account of the Cash Consideration payable on or
before 31 March 2008 is subject to taxation without the benefit of taper relief, then the Buyer will as soon as reasonably practicable pay to the Sellers in cash, by way of additional consideration, a sum equal to the amount by which the amount
of taxation suffered by the Sellers on the Cash Consideration exceeds the amount of taxation which would have been suffered by the Sellers on the Cash Consideration were it not for such change in tax legislation. 

  

	4.	ADJUSTMENT OF PURCHASE PRICE 

  

	4.1	In this agreement Completion Net Assets has the same meaning given in paragraph 1 of Part 1 Schedule 6. 

  

	4.2	The Cash Consideration shall be adjusted by deducting an amount, if any, by which the Completion Net Assets are less than £130,000. 

  

 5 

	4.3	Within seven days, starting on the day after agreement or determination of the Completion Accounts in accordance with the provisions of Schedule 6, if the Cash Consideration is
adjusted pursuant to clause 4.2, the Sellers shall repay to the Buyer the amount of the deduction, any such repayment to be made by the Sellers in the same proportions as they received sums under clause 3.1. 

  

	4.4	Any payment or repayment to be made under clause 4.3 shall be made by banker’s draft or telegraphic transfer to an account notified by the Buyer to the Sellers not later than
two Business Days following the date on which the Completion Accounts are agreed or determined. 

  

	5.	COMPLETION 

  

	5.1	Completion shall take place on the Completion Date: 

  

	 	(a)	at the offices of the Buyer’s Solicitors immediately following execution of this agreement; or 

  

	 	(b)	at any other place or time as agreed in writing by the Sellers and the Buyer. 

  

	5.2	At Completion the Sellers shall: 

  

	 	(a)	deliver or cause to be delivered the documents and evidence set out in Part 2 of Schedule 3; 

  

	 	(b)	procure that a board meeting of the Company is held at which the matters identified in Part 3 of Schedule 3 are carried out; and 

  

	 	(c)	deliver any other documents referred to in this agreement as being required to be delivered by them. 

  

	5.3	At Completion the Buyer shall: 

  

	 	(a)	pay £100,000 on account of the Cash Consideration in cash to the Sellers in the proportions set out opposite their names in Schedule 1; and 

  

	 	(b)	procure the allotment and issue by CMT Inc. to the Sellers of the Consideration Shares in accordance with clause 3.1. 

  

	5.4	As soon as possible after Completion the Sellers shall send to the Buyer (at the Buyer’s registered office for the time being) all records, correspondence, documents, files,
memoranda and other papers relating to the Company and the Subsidiaries not required to be delivered at Completion and which are not kept at any of the Properties. 

  

	6.	WARRANTIES 

  

	6.1	The Buyer is entering into this agreement on the basis of, and in reliance on, the Warranties. 

  

 6 

	6.2	The Sellers warrant and represent to the Buyer that each Warranty is true, accurate and not misleading on the date of this agreement except as Disclosed. 

 

	6.3	Without prejudice to the right of the Buyer to claim on any other basis or take advantage of any other remedies available to it, if any Warranty is breached or proves to be untrue
or misleading, the Sellers shall pay to the Buyer on demand: 

  

	 	(a)	the amount necessary to put the Company into the position they it would have been in if the Warranty had not been breached or had not been untrue or misleading; and

  

	 	(b)	all costs and expenses (including, without limitation, damages, legal and other professional fees and costs, penalties, expenses and consequential losses whether directly or
indirectly arising) incurred by the Buyer or the Company as a result of such breach or of the Warranty being untrue or misleading (including a reasonable amount in respect of management time). 

 A payment made in accordance with the provisions of clause 6.3 shall include any amount necessary to ensure that, after any Taxation of the payment, the
Buyer is left with the same amount it would have had if the payment was not subject to Taxation. 
  

	6.4	Warranties qualified by the expression so far as the Sellers are aware or any similar expression are deemed to be given to the best of the knowledge, information and belief
of the Sellers after they have made all reasonable and careful enquiries. 

  

	6.5	Each of the Warranties is separate and, unless otherwise specifically provided, is not limited by reference to any other Warranty or any other provision in this agreement.

  

	6.6	With the exception of the matters Disclosed, no information of which the Buyer and/or its agents and/or advisers has knowledge (actual, constructive or imputed) or which could have
been discovered (whether by investigation made by the Buyer or made on its behalf) shall prejudice or prevent any Claim or reduce any amount recoverable thereunder. 

  

	7.	LIMITATIONS ON CLAIMS 

  

	7.1	The definitions and rules of interpretation in this clause apply in this agreement. 

 Claim: a claim for breach of any of the Warranties. 
 Substantiated Claim: a Claim in respect
of which liability is admitted by the party against whom such Claim is brought, or which has been adjudicated on by a Court of competent jurisdiction and no right of appeal lies in respect of such adjudication, or the parties are debarred by passage
of time or otherwise from making an appeal. 
 A Claim is connected with another Claim or Substantiated Claim if they all arise out of
the occurrence of the same event or relate to the same subject matter. 
  

 7 

	7.2	This clause limits the liability of the Sellers in relation to any Claim and any claim under the Tax Covenant. 

  

	7.3	The liability of the Sellers for all Substantiated Claims and all claims under the Tax Covenant when taken together shall not exceed £400,000. 

  

	7.4	The Sellers shall not be liable for a Claim or a claim under the Tax Covenant unless the amount of all Substantiated Claims and all claims under the Tax Covenant when taken
together, exceeds £25,000 in which case the whole amount (and not just the amount by which the limit in this clause 7.4 is exceeded) is recoverable by the Buyer. 

  

	7.5	The Sellers are not liable for a Claim to the extent that the Claim: 

  

	 	(a)	relates to matters Disclosed; or 

  

	 	(b)	relates to any matter specifically and fully provided for in the Accounts. 

  

	7.6	The Sellers are not liable for a Claim or a claim under the Tax Covenant unless the Buyer has given the Sellers notice in writing of the Claim or the claim under the Tax Covenant,
summarising the nature of the Claim or claim under the Tax Covenant as far as is known to the Buyer and the amount claimed: 

  

	 	(a)	in the case of a claim made under the Tax Warranties or the Tax Covenant, within the period of seven years beginning with the Completion Date; and 

  

	 	(b)	in any other case, within the period of two years beginning with the Completion Date. 

  

	7.7	Nothing in clause 7 applies to a Claim or a claim under the Tax Covenant that arises or is delayed as a result of dishonesty, fraud, wilful misconduct or wilful concealment by the
Sellers, their agents or advisers. 

  

	7.8	The Sellers shall not plead the Limitation Act 1980 in respect of any claims made under the Tax Warranties or Tax Covenant up to seven years after the Completion Date.

  

	8.	TAX COVENANT 

 The
provisions of Schedule 5 apply in this agreement. 
  

	9.	RESTRICTIONS ON SELLERS 

  

	9.1	Each of the Sellers severally covenants with the Buyer that he shall not: 

  

	 	(a)	at any time during the period of two years beginning with the Completion Date, in any geographic areas in which any business of the Company was carried on at the Completion Date,
carry on or be employed, engaged or interested in any business which would be in competition with any part of the Business as the Business was carried on at the Completion Date; or 

  

 8 

	 	(b)	at any time during the period of two years beginning with the Completion Date, deal with any person who is at the Completion Date, or who has been at any time during the period of
12 months immediately preceding that date, a client or customer of the Company; or 

  

	 	(c)	at any time during the period of two years beginning with the Completion Date, canvass, solicit or otherwise seek the custom of any person who is at the Completion Date, or who has
been at any time during the period of 12 months immediately preceding that date, a client or customer of the Company; or 

  

	 	(d)	at any time during the period of two years beginning with the Completion Date: 

  

	 	(i)	offer employment to, enter into a contract for the services of, or attempt to entice away from the Company, any individual who is at the time of the offer or attempt, and was at the
Completion Date, employed or directly or indirectly engaged in an executive or managerial position with the Company; or 

  

	 	(ii)	procure or facilitate the making of any such offer or attempt by any other person; or 

  

	 	(e)	at any time after Completion, use in the course of any business: 

  

	 	(i)	any trade or service mark, business or domain name, design or logo which, at Completion, was or had been used by the Company; or 

  

	 	(ii)	anything which is, in the reasonable opinion of the Buyer, capable of confusion with such words, mark, name, design or logo; or 

  

	 	(f)	at any time during a period of two years beginning with the Completion Date, solicit or entice away from the Company any supplier to the Company who had supplied goods and/or
services to the Company at any time during the twelve months immediately preceding the Completion Date, if that solicitation or enticement causes or would cause such supplier to cease supplying, or materially reduce its supply of, those goods and/or
services to the Company. 

  

	9.2	The covenants in clause 9 are intended for the benefit of the Buyer, the Company and apply to actions carried out by the Sellers in any capacity and whether directly or indirectly,
on the Sellers own behalf, on behalf of any other person or jointly with any other person. 

  

	9.3	Nothing in clause 9 prevents the Sellers or any of them from holding for investment purposes only: 

  

	 	(a)	any units of any authorised unit trust; or 

  

	 	(b)	not more than 2% of any class of shares or securities of any company traded on a recognised stock exchange. 

  

 9 

	9.4	Each of the covenants in clause 9 is a separate undertaking by each Seller in relation to himself and his interests and shall be enforceable by the Buyer separately and
independently of its right to enforce any one or more of the other covenants contained in clause 9. Each of the covenants in clause 9 is considered fair and reasonable by the parties, but if any restriction is found to be unenforceable, but would be
valid if any part of it were deleted or the period or area of application reduced, the restriction shall apply with such modifications as may be necessary to make it valid and enforceable. 

  

	9.5	The consideration for the undertakings contained in clause 9 is included in the Purchase Price. 

  

	10.	CONFIDENTIALITY AND ANNOUNCEMENTS 

  

	10.1	Each of the Sellers severally undertakes to the Buyer to keep confidential the terms of this agreement and all information which they have acquired about the Company and the
Buyer’s Group (as such Group is constituted immediately before Completion) and, in the case of the Buyer, all information which it has acquired about the Company and to use the information only for the purposes contemplated by this agreement.

  

	10.2	A party does not have to keep confidential or to restrict its use of: 

  

	 	(a)	information that is or becomes public knowledge other than as a direct or indirect result of a breach of this agreement; or 

  

	 	(b)	information that it receives from a source not connected with the party to whom the duty of confidence is owed that it acquires free from any obligation of confidence to any other
person. 

  

	10.3	Any party may disclose any information that it is otherwise required to keep confidential under clause 10: 

  

	 	(a)	to such professional advisers, consultants and employees or officers of its Group as are reasonably necessary to advise on this agreement, or to facilitate the Transaction, if the
disclosing party procures that the people to whom the information is disclosed keep it confidential as if they were that party; or 

  

	 	(b)	with the written consent of all the other parties; or 

  

	 	(c)	with the written consent of one party, if such information relates only to that party; or 

  

	 	(d)	to confirm that the sale has taken place, and the date of the sale (but without otherwise revealing any other items of sale or making any other announcement).

  

	 	(e)	to the extent that the disclosure is required: 

  

	 	(i)	by law; or 

  

	 	(ii)	by a regulatory body, Taxation Authority or securities exchange; or 

  

 10 

	 	(iii)	to make any filing with, or obtain any authorisation from, a regulatory body, Taxation Authority or securities exchange; or 

  

	 	(iv)	under any arrangements in place under which negotiations relating to terms and conditions of employment are conducted; or 

  

	 	(v)	to protect the disclosing parry’s interest in any legal proceedings, 

 but shall use reasonable endeavours to consult the other parties and to take into account any reasonable requests they may have in relation to the disclosure before making it. 
  

	10.4	Each party shall supply any other party with any information about itself, its Group or this agreement as such other party may reasonably require for the purposes of satisfying the
requirements of a law, regulatory body or securities exchange to which such other party is subject. 

  

	11.	FURTHER ASSURANCE 

 The Sellers shall (at their expense) promptly execute and deliver all such documents, and do all such things, as the Buyer may from time to time require for the purpose of giving full effect to the provisions of this agreement. 

 

	12.	ASSIGNMENT 

  

	12.1	Except as provided otherwise in this agreement, no party may assign, or grant any Encumbrance or security interest over, any of its rights under this agreement or any document
referred to in it. 

  

	12.2	Each party that has rights under this agreement is acting on its own behalf. 

  

	12.3	The Buyer may assign its rights under this agreement (or any document referred to in this agreement) but not its obligations to a member of its Group or to any person to whom it
transfers the Sale Shares. 

  

	12.4	If there is an assignment: 

  

	 	(a)	the Sellers may discharge their obligations under this agreement to the assignor until they receive notice of the assignment; and 

  

	 	(b)	the assignee may enforce this agreement as if it were a party to it, but the Buyer shall remain liable for any obligations under this agreement. 

  

	13.	WHOLE AGREEMENT 

  

	13.1	This agreement, and any documents referred to in it, constitute the whole agreement between the parties and supersede any arrangements, understanding or previous agreement between
them relating to the subject matter they cover. 

  

	13.2	Nothing in clause 13 operates to limit or exclude any liability for fraud. 

  

 11 

	13.3	The Sellers acknowledge that they have been given full opportunity to obtain independent legal advice in relation to the matters covered by this Agreement, and agree that they have
not relied on and hereby waive any claims they might otherwise have against the Buyer or CMT Inc or any of their employees, agents or representatives in relation to the negotiation of such matters. 

  

	14.	VARIATION AND WAIVER 

  

	14.1	Any variation of this agreement shall be in writing and signed by or on behalf of the parties. 

  

	14.2	Any waiver of any right under this agreement is only effective if it is in writing and it applies only to the party to whom the waiver is addressed and to the circumstances for
which it is given and shall not prevent the party who has given the waiver from subsequently relying on the provision it has waived. 

  

	14.3	A party that waives a right in relation to one party, or takes or fails to take any action against that party, does not affect its rights in relation to any other party.

  

	14.4	No failure to exercise or delay in exercising any right or remedy provided under this agreement or by law constitutes a waiver of such right or remedy or shall prevent any future
exercise in whole or in part thereof. 

  

	14.5	No single or partial exercise of any right or remedy under this agreement shall preclude or restrict the further exercise of any such right or remedy. 

  

	14.6	Unless specifically provided otherwise, rights arising under this agreement are cumulative and do not exclude rights provided by law. 

  

	15.	COSTS 

 Unless otherwise provided,
all costs in connection with the negotiation, preparation, execution and performance of this agreement, and any documents referred to in it, shall be borne by the party that incurred the costs. 
  

	16.	NOTICE 

  

	16.1	A notice given under this agreement: 

  

	 	(a)	shall be in writing in the English language (or be accompanied by a properly prepared translation into English); 

  

	 	(b)	shall be sent for the attention of the person, and to the address or fax number, specified in clause 16 (or such other address, fax number or person as each party may notify to the
others in accordance with the provisions of clause 16); and 

  

	 	(c)	shall be: 

  

	 	(i)	delivered personally; or 

  

 12 

	 	(ii)	sent by fax; or 

  

	 	(iii)	sent by pre-paid first-class post or recorded delivery; or 

  

	 	(iv)	(if the notice is to be served by post outside the country from which it is sent) sent by airmail. 

  

	16.2	Any notice to be given to or by all of the Sellers under this agreement is deemed to have been properly given if it is given to or by the Sellers representative named in clause
16.3. Any notice required to be given to or by some only of the Sellers shall be given to or by the Sellers concerned (and in the case of a notice to the Sellers) at their address or fax number as set out in Schedule 1. 

  

	16.3	The addresses for service of notice are: 

  

	 	(a)	SELLERS 

  

							
		 		 	 (i)       name:
	  	 Jonathan Strike

				
		 		 	 (ii)      address:
	  	 Nymet Barton Farm, Nymet Tracey, Bow, Crediton,
 Devon EX17 6DB

				
		 		 	 (iii)     fax number:
	  	 01932 848 779

  

	 	(b)	BUYER 

  

					
		  	 (i)       address:
	  	  96 Oak Lane, Upchurch, Sittingbourne, Kent
  ME9 7AY

		
		  	 (ii)      for the attention of: David Reeve

  

	16.4	A notice is deemed to have been received: 

  

	 	(a)	if delivered personally, at the time of delivery; or 

  

	 	(b)	in the case of fax, at the time of transmission; or 

  

	 	(c)	in the case of pre-paid first class post or recorded delivery three Business Days from the date of posting; or 

  

	 	(d)	in the case of airmail, five Business Days from the date of posting; or 

  

	 	(e)	if deemed receipt under the previous paragraphs of clause 16.4 is not within business hours (meaning 9.00 am to 5.30 pm Monday to Friday on a day that is not a public holiday in the
place of receipt), when business next starts in the place of receipt. 

  

	16.5	To prove service, it is sufficient to prove that the notice was transmitted by fax to the fax number of the party or, in the case of post, that the envelope containing the notice
was properly addressed and posted. 

  

 13 

	17.	SEVERANCE 

  

	17.1	If any provision of this agreement (or part of a provision) is found by any court or administrative body of competent jurisdiction to be invalid, unenforceable or illegal, the other
provisions shall remain in force. 

  

	17.2	If any invalid, unenforceable or illegal provision would be valid, enforceable or legal if some part of it were deleted, the provision shall apply with whatever modification is
necessary to give effect to the commercial intention of the parties. 

  

	18.	AGREEMENT SURVIVES COMPLETION 

 This agreement (other than obligations that have already been fully performed) remains in full force after Completion. 
  

	19.	THIRD PARTY RIGHTS 

  

	19.1	Subject to clause 19.2, this agreement and the documents referred to in it are made for the benefit of the parties and their successors and permitted assigns and are not intended to
benefit, or be enforceable by, anyone else. 

  

	19.2	The following provisions are intended to benefit future buyers of the Sale Shares from the Buyer and, where they are identified in the relevant clauses, the Company and shall be
enforceable by them to the fullest extent permitted by law: 

  

	 	(a)	clause 6 and Schedule 4, subject to clause 7; 

  

	 	(b)	clause 8 and Schedule 5; 

  

	 	(c)	clause 9; and 

  

	 	(d)	clause 10. 

  

	19.3	Each of the parties represents to the others that their respective rights to terminate, rescind or agree any amendment, variation, waiver or settlement under this agreement are not
subject to the consent of any person that is not a party to this agreement. 

  

	20.	SUCCESSORS 

 The rights and
obligations of the Sellers and the Buyer under this agreement shall continue for the benefit of, and shall be binding on, their respective successors and assigns. 
  

	21.	COUNTERPARTS 

 This agreement may be
executed in any number of counterparts, each of which is an original and which together have the same effect as if each party had signed the same document. 
  

 14 

	22.	LANGUAGE 

 If this agreement is
translated into any language other than English, the English language text shall prevail. 
  

	23.	GOVERNING LAW AND JURISDICTION 

  

	23.1	This agreement and any disputes or claims arising out of or in connection with its subject matter are governed by and construed in accordance with the law of England.

  

	23.2	The parties irrevocably agree that the courts of England have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this agreement.

 This agreement has been entered into on the date stated at the beginning of it. 
  

 15 

 Schedule 1 Particulars of Sellers 
 Part 1. Particulars of sellers and apportionment of purchase price 
  

									
	 Seller’s name and address
	 	Number of sale
shares	 	Cash
Consideration	 	Proportion of
purchase price	 	Number or
proportion of
Consideration
Shares
	Jonathan Ian
 Grant Strike
 Nymet Barton
 Farm, Nymet
 Tracey, Bow,
 Crediton, Devon
 EX17
6DB
	 	4 Ordinary ‘A’	 	£160,000	 	80%	 	80%
					
	Shelley Jane
 Strike
 Nymet Barton
 Farm, Nymet
 Tracey, Bow,
 Crediton, Devon
 EX17
6DB
	 	1 Ordinary ‘A’	 	£40,000	 	20%	 	20%

  

 16 

 Schedule 2 Particulars of the Company and subsidiaries 
 Part 1. The Company 
  

			
	Name:	  	STRIKE IT SERVICES LIMITED
		
	Registration number:	  	4463915
		
	Registered office:	  	45A Church Street, Weybridge, Surrey KT1 8DG
		
	 Authorised share capital
 Amount:
£1000
 Divided into: [NUMBER AND CLASS OF SHARES]
	  	 £1,000
 “A” Ordinary Shares of £1
each

		
	 Issued share capital
 Amount:
£5
 Divided into:
	  	5 Ordinary A Shares
		
	Registered shareholders (and number of Sale Shares held):	  	As per Schedule 1
		
	Beneficial owners of Sale Shares (if different) and number of Sale Shares beneficially owned:	  	
		
	Directors and shadow directors:	  	Jonathan Strike and Shelley Strike
		
	Secretary:	  	Shelley Strike
		
	Auditor	  	Lawfords Limited, Chartered Accountants, Union House, Walton Lodge, Bridge Street, Walton-on-Thames, Surrey, KT12 1BT
		
	Registered Charges	  	Debenture dated 8 August 2006 to SME Invoice Finance Limited
		
	Beneficial owner of shares (if different) and number of shares beneficially owned:	  	

  

 17 

 Schedule 3 Completion 
 Part 2. What the Sellers shall deliver to the Buyer at Completion 
  

	1.	At Completion, the Sellers shall deliver or cause to be delivered to the Buyer the following documents and evidence: 

  

	 	(a)	transfers of the Sale Shares executed by the registered holders in favour of the Buyer or its nominees; 

  

	 	(b)	the share certificates for the Sale Shares in the names of the registered holders or an indemnity in the agreed form for any lost certificates; 

  

	 	(c)	in relation to the Company, the statutory registers and minute books (written up to the time of Completion), the common seal, certificate of incorporation and any certificates of
incorporation on change of name; 

  

	 	(d)	the written resignation, executed as a deed and in the agreed form, of the directors and secretaries of the Company from their offices and employment with the Company, except for
the following persons who are not resigning: 

  

	 	(i)	Jonathan Strike 

  

	 	(e)	a certified copy of the minutes of the board meetings held pursuant to Part 3 of Schedule 3; 

  

	 	(f)	in relation to the Company: 

  

	 	(i)	statements from each bank at which any of those companies has an account, giving the balance of each account at the close of business on the last Business Day before Completion;

  

	 	(ii)	all cheque books in current use and written confirmation that no cheques have been written since those statements were prepared; 

  

	 	(iii)	details of their cash book balances; and 

  

	 	(iv)	reconciliation statements reconciling the cash book balances and the cheque books with the bank statements delivered; 

  

	 	(g)	all title deeds and other documents relating to the Properties; 

  

	 	(h)	evidence, in agreed form, that any indebtedness or other liability of the kind described in paragraph 12 of Part 4 of Schedule 4 has been discharged; 

  

	 	(i)	evidence, in agreed form, that the Company has been discharged from any responsibility for the indebtedness, or for the default in the performance of any obligation, of any other
person; and 

  

	 	(j)	all charges, mortgages, debentures and guarantees to which the Company is a party 

  

 18 

 Part 3. Matters for the board meetings at Completion 
  

	1.	The Sellers shall cause a board meeting of the Company to be held at Completion at which the matters set out in Part 3 of Schedule 3 shall take place. 

  

	2.	A resolution to register the transfer of the Sale Shares shall be passed at such board meeting of the Company, subject to the transfers being stamped at the cost of the Buyer.

  

	3.	All directors and the secretary of the Company shall resign from their offices and employment with the Company with effect from the end of the relevant board meeting, except for the
following persons: 

  

	 	(a)	Jonathan Strike 

  

	4.	A service agreement in the agreed form shall be entered into between Jonathan Strike and the Company. 

  

	5.	The persons the Buyer nominates shall be appointed as directors and secretary of the Company (but not exceeding any maximum number of directors contained in the relevant
Company’s articles of association). The appointments shall take effect at the end of the board meeting. 

  

	6.	The address of the registered office of the Company shall be changed to the address required by the Buyer. 

  

 19 

 Schedule 4 Warranties 
 Part 4. General warranties 
  

	1.	POWER TO SELL THE COMPANY 

  

	1.1	The Sellers have all requisite power and authority to enter into and perform this agreement in accordance with its terms and the other documents referred to in it.

  

	1.2	This agreement and the other documents referred to in it constitute (or shall constitute when executed) valid, legal and binding obligations on the Sellers in the terms of the
agreement and such other documents. 

  

	1.3	Compliance with the terms of this agreement and the documents referred to in it shall not breach or constitute a default under any of the following: 

  

	 	(a)	any agreement or instrument to which any of the Sellers is a party or by which any of them is bound; or 

  

	 	(b)	any order, judgment, decree or other restriction applicable to any of the Sellers. 

  

	2.	SHARES IN THE COMPANY 

  

	2.1	The Sale Shares constitute the whole of the allotted and issued share capital of the Company and are fully paid. 

  

	2.2	The Sellers are the legal and beneficial owners of the Sale Shares. 

  

	2.3	The Sale Shares are free from all Encumbrances. 

  

	2.4	No right has been granted to any person to require the Company to issue any share capital and no Encumbrance has been created in favour of any person affecting any unissued shares
or debentures or other unissued securities of the Company 

  

	2.5	No commitment has been given to create an Encumbrance affecting the Sale Shares (or any unissued shares or debentures or other unissued securities of the Company) or for any of them
to issue any share capital and no person has claimed any rights in connection with any of those things. 

  

	2.6	The Company has not: 

  

	 	(a)	held or beneficially own, or has agreed to acquire, any securities of any corporation; or 

  

	 	(b)	is or has agreed to become a member of any partnership or other unincorporated association, joint venture or consortium (other than recognised trade associations); or

  

 20 

	 	(c)	has, outside its country of incorporation, any branch or permanent establishment; or 

  

	 	(d)	has allotted or issued any securities that are convertible into shares. 

  

	2.7	The Company has not at any time: 

  

	 	(a)	purchased, redeemed or repaid any of its own share capital; or 

  

	 	(b)	given any financial assistance in contravention of section 151 of the Companies Act 1985. 

  

	2.8	All dividends or distributions declared, made or paid by the Company have been declared, made or paid in accordance with its memorandum, articles of association, the applicable
provisions of the Companies Acts and any agreements or arrangements made with any third party regulating the payment of dividends and distributions. 

  

	3.	CONSTITUTIONAL AND CORPORATE DOCUMENTS 

  

	3.1	The copies of the memorandum and articles of association or other constitutional and corporate documents of the Company disclosed to the Buyer or its advisers are true, accurate and
complete in all respects and copies of all the resolutions and agreements required to be annexed to or incorporated in those documents by the law applicable are annexed or incorporated. 

  

	3.2	All statutory books and registers of the Company have been properly kept and no notice or allegation that any of them is incorrect or should be rectified has been received.

  

	3.3	All returns, particulars, resolutions and other documents which the Company is required by law to file with or deliver to any authority in any jurisdiction (including, in
particular, the Registrar of Companies in England and Wales) has been correctly made up and filed or, as the case may be, delivered. 

  

	4.	INFORMATION 

  

	4.1	All information contained in the Disclosure Letter and written information provided by the Sellers and their advisers to the Buyer and its advisers in the course of negotiations is
complete, accurate and not misleading. 

  

	4.2	The particulars relating to the Company in this agreement are accurate and not misleading. 

  

	4.3	There is no information that has not been Disclosed which, if Disclosed, might reasonably affect the willingness of the Buyer to buy the Sale Shares on the terms of this agreement.

  

 21 

	5.	COMPLIANCE WITH LAWS 

 The Company has at all times conducted its business in accordance with all applicable laws and regulations. 
  

	6.	LICENCES AND CONSENTS 

  

	6.1	The Company has all necessary licences, consents, permits and authorities necessary to carry on its business in the places and in the manner in which its business is now carried on,
all of which are valid and subsisting. 

  

	6.2	There is no reason why any of those licences, consents, permits and authorities should be suspended, cancelled, revoked or not renewed on the same terms. 

 

	7.	INSURANCE 

  

	7.1	The insurance policies maintained by or on behalf of the Company provide full indemnity cover against all losses and liabilities including business interruption and other risks that
are normally insured against by a person carrying on the same type of business as the Company. 

  

	7.2	The particulars of those policies set out in the Disclosure Letter are accurate and not misleading. 

  

	7.3	There are no material outstanding claims under, or in respect of the validity of, any of those policies and so far as the Sellers are aware, there are no circumstances likely to
give rise to any claim under any of those policies. 

  

	7.4	All the insurance policies are in full force and effect, are not void or voidable, nothing has been done or not done which could make any of them void or voidable and Completion
will not terminate, or entitle any insurer to terminate, any such policy. 

  

	8.	POWER OF ATTORNEY 

  

	8.1	There are no powers of attorney in force given by the Company. 

  

	8.2	No person, as agent or otherwise, is entitled or authorised to bind or commit the Company to any obligation not in the ordinary course of the Company’s business.

  

	8.3	The Disclosure Letter sets out details of all persons who have authority to bind the Company in the ordinary course of business. 

  

	9.	DISPUTES AND INVESTIGATIONS 

  

	9.1	Neither the Company or any person for whom the Company is vicariously liable: 

  

	 	(a)	is engaged in any litigation, administrative, mediation or arbitration proceedings or other proceedings or hearings before any statutory or governmental body, department, board or
agency (except for debt collection in the normal course of business); or 

  

 22 

	 	(b)	is the subject of any investigation, inquiry or enforcement proceedings by any governmental, administrative or regulatory body. 

  

	9.2	No director of the Company is, to the extent that it relates to the business of the Company, engaged in or subject to any of the matters mentioned in paragraph 9.1 of Schedule 4.

  

	9.3	No such proceedings, investigation or inquiry as are mentioned in paragraph 9.1 or paragraph 9.2 of Schedule 4 have been threatened or are pending and there are no circumstances
likely to give rise to any such proceedings. 

  

	9.4	The Company is not affected by any existing or pending judgments or rulings and have not given any undertakings arising from legal proceedings to a court, governmental agency,
regulator or third party. 

  

	10.	CUSTOMERS AND SUPPLIERS 

  

	10.1	In the 12 months ending with the date of this agreement the business of the Company has not been materially affected in an adverse manner as a result of any one or more of the
following things happening to the Company: 

  

	 	(a)	the loss of any of its customers or suppliers; or 

  

	 	(b)	a reduction in trade with its customers or in the extent to which it is supplied by any of its suppliers; or 

  

	 	(c)	a change in the terms on which it trades with or is supplied by any of its customers or suppliers. 

  

	10.2	No one or more of the things mentioned in paragraph 10.1 of Schedule 4 is likely to happen to the extent that me business of the Company will be materially affected in an adverse
manner. 

  

	11.	CONTRACTS 

  

	11.1	The definition in this paragraph applies in this agreement. 

 Material Contract: an agreement or arrangement to which the Company is a party or is bound by and which is of material importance to the business, profits or assets of the Company. 
  

	11.2	Except for the agreements and arrangements Disclosed, the Company is not a party to or subject to any agreement or arrangement which: 

  

	 	(a)	is a Material Contract; or 

  

 23 

	 	(b)	is of an unusual or exceptional nature; or 

  

	 	(c)	is not in the “ordinary and usual course of business of the Company; or 

  

	 	(d)	may be terminated as a result of any Change of Control of the Company; or 

  

	 	(e)	restricts the freedom of the Company to carry on the whole or any part of its business in any part of the world in such manner as it thinks fit; or 

  

	 	(f)	involves agency or distributorship; or 

  

	 	(g)	involves partnership, joint venture, consortium, joint development, shareholders or similar arrangements; or 

  

	 	(h)	is incapable of complete performance in accordance with its terms within six months after the date on which it was entered into; or 

  

	 	(i)	cannot be readily fulfilled or performed by the Company on time and without undue or unusual expenditure of money and effort; or 

  

	 	(j)	requires the Company to pay any commission, finders’ fee, royalty or the like; or 

  

	 	(k)	is for the supply of goods and/or services by or to the Company on terms under which retrospective or future discounts, price reductions or other financial incentives are given; or

  

	 	(1)	is not on arm’s length terms. 

  

	11.3	Each Material Contract is in full force and effect and binding on the parties to it. The Company has not defaulted under or breached a Material Contract and:

  

	 	(a)	no other party to a Material Contract has defaulted under or breached such a contract; and 

  

	 	(b)	no such default or breach by the Company, or any other party is likely or has been threatened. 

  

	11.4	No notice of termination of a Material Contract has been received or served by the Company and there are no grounds for determination, rescission, avoidance, repudiation or a
material change in the terms of any such contract. 

  

	12.	TRANSACTIONS WITH SELLERS 

  

	12.1	There is no outstanding indebtedness or other liability (actual or contingent) and no outstanding contract, commitment or arrangement between the Company and any of the following,
and any of the following: 

  

	 	(a)	any of the Sellers or any person Connected with any of the Sellers; or 

  

	 	(b)	any director of a member of the Company or any person connected with such a member or director. 

  

 24 

	12.2	None of the Sellers, nor any person Connected with any of the Sellers, is entitled to a claim of any nature against the Company or has assigned to any person the benefit of a claim
against the Company to which the Sellers or a person Connected with the Sellers would otherwise be entitled. 

  

	13.	FINANCE AND GUARANTEES 

  

	13.1	Full particulars of all money borrowed by the Company (including full particulars of the terms on which such money has been borrowed) have been Disclosed. 

 

	13.2	No guarantee, mortgage, charge, pledge, lien, assignment or other security agreement or arrangement has been given by or entered into by the Company or any third party in respect of
borrowings or other obligations of the Company. 

  

	13.3	The total amount borrowed by the Company does not exceed any limitations on the borrowing powers contained: 

  

	 	(a)	in the memorandum and articles of association of the Company; or 

  

	 	(b)	in any debenture or other deed or document binding on the Company 

  

	13.4	The Company has no outstanding loan capital, or has lent any money that has not been repaid, and there are no debts owing to the Company other than debts that have arisen in the
normal course of business. 

  

	13.5	Neither the Company has: 

  

	 	(a)	factored any of its debts or discounted any of its debts or engaged in financing of a type which would not need to be shown or reflected in the Accounts; or

  

	 	(b)	waived any right of set-off it may have against any third party. 

  

	13.6	All debts (less any provision for bad and doubtful debts) owing to the Company reflected in the Accounts and all debts subsequently recorded in the books of the Company have either
prior to the date of this agreement been realised or will, within three months after the date of this agreement, realise in cash their full amount as included in those Accounts or books and none of those debts nor any part of them has been
outstanding for more than two months from its due date for payment. 

  

	13.7	No indebtedness of the Company is due and payable and no security over any of the assets of the Company is now enforceable, whether by virtue of the stated maturity date of the
indebtedness having been reached or otherwise. The Company has received no notice whose terms have not been fully complied with and/or carried out from any creditor requiring any payment to be made and/or intimating the enforcement of any security
which it may hold over the assets of the Company. 

  

 25 

	13.8	The Company has not given or entered into any guarantee, mortgage, charge, pledge, lien, assignment or other security agreement or arrangement or is responsible for the
indebtedness, or for the default in the performance of any obligation, of any other person. 

  

	13.9	The Company is not subject to any arrangement for receipt or repayment of any grant, subsidy or financial assistance from any government department or other body.

  

	13.10	Particulars of the balances of all the bank accounts of the Company, showing the position as at the day immediately preceding the date of this agreement, have been Disclosed and the
Company has no other bank accounts. Since those particulars were given, there have been no payments out of those accounts other than routine payments in the ordinary course of business. 

  

	13.11	Having regard to the existing banking and other facilities available to it, the Company has sufficient working capital for the purposes of: 

  

	 	(a)	continuing to carry on its business in its present form and at its present level of turnover for the next 12 months; and 

  

	 	(b)	executing, carrying out and fulfilling in accordance with their respective terms all orders, projects and contractual obligations which have been placed with or undertaken by the
Company. 

  

	13.12	A Change of Control of the Company will not result in: 

  

	 	(a)	the termination of or material effect on any financial agreement or arrangement to which the Company, is a party or subject; or 

  

	 	(b)	any indebtedness of the Company becoming due, or capable of being declared due and payable, prior to its stated maturity. 

  

	14.	ASSETS 

  

	14.1	The Company is the full legal and beneficial owner of, and has good and marketable title to, all the assets included in the Accounts, and any assets acquired since the Accounts Date
and all other assets used by the Company, except for those disposed of since the Accounts Date in the normal course of business. 

  

	14.2	None of the assets shown in the Accounts or acquired by the Company since the Accounts Date or used by the Company is the subject of any lease, lease hire agreement, hire purchase
agreement or agreement for payment on deferred terms or is the subject of any licence or factoring arrangement. 

  

	14.3	The Company is in possession and control of all the assets included in the Accounts or acquired since the Accounts Date and all other assets used by the Company except for those
Disclosed as being in the possession of a third party in the normal course of business. 

  

 26 

	14.4	None of the assets, undertaking or goodwill of the Company is subject to an Encumbrance, or to any agreement or commitment to create an Encumbrance, and no person has claimed to be
entitled to create such an Encumbrance. 

  

	14.5	The assets of the Company comprise all the assets necessary for the continuation of the relevant company’s business in the manner in which such business has been carried on as
at the Accounts Date and as at Completion. 

  

	15.	DATA PROTECTION 

  

	15.1	The Company has notified registrable particulars under the Data Protection Act 1998 of all personal data held by them and: 

  

	 	(a)	have renewed such notifications and have notified any changes occurring in between such notifications as required by that Act; 

  

	 	(b)	have paid all fees payable in respect of such notifications; 

  

	 	(c)	the contents of such notifications (copies of which are attached to the Disclosure Letter) are complete and accurate; and 

  

	 	(d)	there has been no unauthorised disclosure of personal data outside the terms of such notifications. 

  

	15.2	No personal data have been transferred outside the European Economic Area, 

  

	15.3	The Company has: 

  

	 	(a)	complied in all respects with the Data Protection Act 1984 and the Data Protection Act 1998 including in relation to any manual data in respect of which the transitional exemptions
under Schedule 8 of the Data Protection Act 1998 have now expired); 

  

	 	(b)	satisfied any requests for access to personal data subject to paragraph 15.3(a) of Schedule 4; 

  

	 	(c)	established the procedures necessary to ensure continued compliance with such legislation; and 

  

	 	(d)	complied with the requirements of the seventh principle of the Data Protection Act 1998 in respect of any processing of data carried out by a data processor on behalf of the
Company, including by entering into a written contract with the data processor confirming that the data processor will only act on the instructions of the Company, and requiring the data processor to comply with obligations relating to security
measures equivalent to those imposed on the Company by the seventh principle as mentioned above. 

  

	15.4	The Company has not received any: 

  

	 	(a)	notice or complaint under the Data Protection Act 1998 alleging non-compliance with the Act (including any information or enforcement notice, or any transfer prohibition notice); or

  

 27 

	 	(b)	claim for compensation for loss or unauthorised disclosure of data; or 

  

	 	(c)	notification of an application for rectification or erasure of personal data, 

 and neither the Company is aware of any circumstances which may give rise to the giving of any such notice or the making of any such notification. 
  

	15.5	The Company has complied with their obligations under the Privacy and Electronic Communications (EC Directive) Regulations 2003 in respect of the use of electronic communications
(including e-mail, text messaging, fax machines, automated calling systems and non-automated telephone calls) for direct marketing purposes. 

  

	16.	EMPLOYMENT 

  

	16.1	The definitions in this paragraph apply in this agreement. 

 Employment Legislation: legislation applying in England and Wales affecting contractual and other relations between employers and their employees or workers including, but not limited to, any legislation and any amendment, extension
or re-enactment of such legislation and any claim arising under European treaty provisions or directives enforceable against the Company by any Employee or Worker. 
 Employee: any person employed by the Company under a contract of employment. 
 Worker: any
person who personally performs work for the Company but who is not in business on their own account or in a client/customer relationship. 
  

	16.2	The name of each person who is a Director is set out in Schedule 2. 

  

	16.3	The Disclosure Letter includes anonymised details of all Employees and Workers of the Company, the particulars of each Employee and Worker and the principal terms of their contract
including: 

  

	 	(a)	the Company which employs or engages them; 

  

	 	(b)	their remuneration (including any benefits and privileges provided or which the Company is bound to provide to them or their dependants, whether now or in the future);

  

	 	(c)	the commencement date of each contract and, if an Employee, the date on which their continuous service began; 

  

	 	(d)	the length of notice necessary to terminate each contract or, if a fixed term, the expiry date of the fixed term and details of any previous renewals; 

  

	 	(e)	the type of contract (whether full or part-time or other); 

  

	 	(f)	their date of birth; 

  

 28 

	 	(g)	any country in which the Employee or Worker works or performs services and/or is paid, if the Employee or Worker works or is paid outside England and Wales; and

  

	 	(h)	the law governing the contract, if the Employee or Worker works or is paid outside England and Wales. 

  

	16.4	The Disclosure Letter includes anonymised details of all persons who are not Workers and who are providing services to the Company or any of the Subsidiaries under an agreement
which is not a contract of employment with the Company or the relevant Subsidiary (including, in particular, where the individual acts as a consultant or is on secondment from a employer which is not a member of the Company’s Group) and the
particulars of the terms on which the individual provides services, including: 

  

	 	(a)	the company which engages them; 

  

	 	(b)	the remuneration of each individual (including any benefits and privileges provided or which the Company or any of the Subsidiaries is bound to provide) to them or their dependants,
whether now or in the future; and 

  

	 	(c)	the length of notice necessary to terminate each agreement or, if at fixed term, the expiry date of the fixed term and details of any previous renewals; 

  

	 	(d)	any country in which the individual provides services, if the individual provides services wholly or mainly outside England and Wales; and 

  

	 	(e)	the law governing the agreement, if the individual provides services wholly or mainly outside England and Wales. 

  

	16.5	The Disclosure Letter includes anonymised details of all Employees and Workers of the Company who are on secondment, maternity, paternity, adoption or other leave or who are absent
due to ill-health or for any other reason. 

  

	16.6	No notice to terminate the contract of employment of any Employee or Worker of the Company (whether given by the relevant employer or by the Employee or Worker) is pending,
outstanding or threatened and no dispute under any Employment Legislation or otherwise is outstanding between: 

  

	 	(a)	the Company and any of its or their current or former Employees relating to their employment, its termination and any reference given by the Company or any Subsidiary regarding
them; or 

  

	 	(b)	the Company and any of its current or former Workers relating to their contract, its termination and any reference given by the Company or any Subsidiary regarding them.

  

	16.7	No questionnaire has been served on the Company or any of the Subsidiaries by an Employee or Worker under any Employment Legislation which remains unanswered in full or in part.

  

 29 

	16.8	Every Employee or Worker of the Company who requires a work permit or other permission to work in the United Kingdom has a current and appropriate work permit or other permission
and all other necessary permissions to remain in the United Kingdom. 

  

	16.9	No offer of employment or engagement has been made by the Company that has not yet been accepted, or which has been accepted but where the employment or engagement has not yet
started. 

  

	16.10	The acquisition of the Sale Shares by the Buyer and compliance with the terms of this agreement will not entitle any Directors, officers or [senior] Employees of the Company to
terminate their employment or receive any payment or other benefit. 

  

	16.11	All contracts between the Company and its or their Employees and Workers are terminable at any time on not more than three months’ notice without compensation (other than for
unfair dismissal or a statutory redundancy payment) or any liability on the part of the Company other than wages, commission or pension. 

  

	16.12	All contracts between the Company and their Directors, Employees or Workers comply with any relevant requirements of section 188 of the Companies Act 2006. 

 

	16.13	The Company is not a party to, bound by or proposing to introduce in respect of any of its Directors or Employees any redundancy payment scheme in addition to statutory redundancy
pay, and there is no agreed procedure for redundancy selection. 

  

	16.14	The Company is a not party to, bound by or proposing to introduce in respect of any of its Directors, Employees or Workers any share option, profit sharing, bonus, commission or any
other scheme relating to the profit or sales of the Company or any of the Subsidiaries. 

  

	16.15	The Company has not incurred any actual or contingent liability in connection with any termination of employment of its Employees (including redundancy payments) or for failure to
comply with any order for the reinstatement or re-engagement of any Employee. 

  

	16.16	The Company has not incurred any liability for failure to provide information or to consult with Employees under any Employment Legislation. 

  

	16.17	The Company has not made or agreed to make a payment or provided or agreed to provide a benefit to a present or former Director or officer, Employee or Worker or to their dependants
in connection with the actual or proposed termination or suspension of employment or variation of an employment contract. 

  

	16.18	The Company is not involved in any material industrial or trade dispute or negotiation regarding a claim with any trade union, group or organisation of employees or their
representatives representing Employees or Workers and there is nothing likely to give rise to such a dispute or claim. 

  

 30 

	16.19	No subject access requests made to the Company pursuant to the Data Protection Act 1998 by Employees or Workers are outstanding and the Company has complied with the provisions of
the Data Protection Act 1998 in respect of all personal data held or processed by them relating to their Employees, Workers, and former Employees and Workers. 

  

	16.20	The Company has not in the last 12 months altered and they shall not alter (whether to take effect prior to, on or after the Completion Date) any of the terms of employment or
engagement of any of the Employees or Workers (without the prior written consent of the Buyer). 

  

	16.21	The Company has not or will not transfer or agree to transfer any Employee or Worker from working for the Company or any Subsidiary, induce any Employee or Worker to resign their
employment with the Company or any Subsidiary without the prior written consent of the Buyer. 

  

	16.22	There are no sums owing to or from any Employee or Worker other than reimbursement of expenses, wages for the current salary period and holiday pay for the current holiday year.

  

	16.23	Neither the Company nor any Subsidiary has offered, promised or agreed to any future variation in the contract of any Employee or Worker 

  

	16.24	The Disclosure Letter includes true, complete and accurate: 

  

	 	(a)	anonymised copies of all contracts, handbooks, policies and other documents which apply to any of the Employees and Workers; 

  

	 	(b)	copies of all agreements or arrangements with any trade union, employee representative or body of employees or their representatives (whether binding or not) and details of any such
unwritten agreements or arrangements which may affect any Employee or Worker 

  

	16.25	In respect of each Employee and Worker, the Company and the Subsidiaries have: 

  

	 	(a)	performed all obligations and duties they are required to perform (and settled all outstanding claims), whether or not legally binding and whether arising under contract, statute,
at common law or in equity or under any treaties including the EC Treaty or laws of the European Community or otherwise; 

  

	 	(b)	complied with the terms of any relevant agreement or arrangement with any trade union, employee representative or body of employees or their representatives (whether binding or
not); 

  

	 	(c)	maintained adequate, suitable and up to date records. 

  

	16.26	Part 7 of the Income Tax (Earnings and Pensions) Act 2003 does not apply to any shares in the Company. 

  

 31 

	17.	PROPERTY 

  

	17.1	The definitions in this paragraph apply in this agreement. 

 Lease: the property rental agreements under which the Property is held. 
 Property: 45A Church Street, Weybridge KT13
8DG 
 Previously-owned Land and Buildings: land and buildings that have, at any time before the date of this agreement, been owned
(under whatever tenure) and/or occupied and/or used by the Company, but which are either no longer owned, occupied or used by the Company, or are owned, occupied or used by one of them but pursuant to a different lease, licence, transfer or
conveyance. 
  

	17.2	The particulars of the Property set out above are true, complete and accurate. 

  

	17.3	The Property is the only land and buildings owned, used or occupied by the Company. 

  

	17.4	The Company has no right of ownership, right of use, option, right of first refusal or contractual obligation to purchase, or any other legal or equitable right, estate or interest
in, or affecting, any land or buildings other than the Property. 

  

	17.5	The Company, has no actual or contingent liability in respect of Previously-owned Land and Buildings. 

  

	17.6	The Company has not given any guarantee or indemnity for any liability relating to the Property, any Previously-owned Land and Buildings or any other land or buildings.

  

	17.7	All written replies given by or on behalf of the Sellers or the Company in response to any written enquiries raised by or on behalf of the Buyer in relation to the Property were
complete and accurate at the date they were given, and would still be complete and accurate if the replies were instead being given on the Completion Date. 

  

	17.8	The Company, is in possession and actual occupation of the Property on an exclusive basis, and no right of occupation or enjoyment has been acquired or is in the course of being
acquired by any third party, and the Company has not granted, or agreed to grant, any right of occupation or enjoyment in respect of the Property to any third party. 

 In relation to the Lease, the landlord and each lessee, tenant, licensee or occupier has observed and performed in all material respects all covenants,
restrictions, stipulations and other encumbrances and there has not been (expressly or impliedly) any waiver of or acquiescence to any breach of them. 
  

	17.9	In relation to the Lease, all principal rent and additional rent and all other sums payable by each lessee, tenant, licensee or occupier under the Lease (Lease Sums) have
been paid as and when they became due and no Lease Sums have been: 

  

 32 

	 	(a)	set off or withheld; or 

  

	 	(b)	commuted, waived or paid in advance of the due date for payment. 

  

	17.10	The Property is not subject to the payment of any outgoings other than non-domestic local business rates and water and sewerage charges (and in the case of the Leasehold Properties,
principal rent, insurance premiums and service charges) and all outgoings have been paid when due and none is disputed. 

  

	18.	ACCOUNTS 

  

	18.1	The Accounts have been and the Completion Accounts will be prepared in accordance with the Companies Acts and with accounting standards, policies, principles and practices generally
accepted in the UK and in accordance with the law of that jurisdiction. 

  

	18.2	The Accounts have been confirmed by a firm of accountants qualified to act as auditors in the UK. 

  

	18.3	The Accounts do (and the Completion Accounts will): 

  

	 	(a)	make proper and adequate provision or reserve for all bad and doubtful debts, obsolete or slow-moving stocks and for depreciation on fixed assets; 

  

	 	(b)	not overstate the value of current or fixed assets; and 

  

	 	(c)	not understate any liabilities (whether actual or contingent). 

  

	18.4	The Accounts show (and the Completion Accounts will show) a true and fair view of the state of affairs of the Company as at the date to which they are made and of the profit and
loss of the Company for the financial period ended on that date. 

  

	18.5	The Accounts contain (and the Completion Accounts will contain) either provision adequate to cover, or full particulars in notes of, all Taxation (including deferred Taxation) and
other liabilities (whether quantified, contingent, disputed or otherwise) of the Company as at the date to which they are made. 

  

	18.6	The Accounts are not (and the Completion Accounts will not be) affected by any unusual or non-recurring items or any other factor that would make the financial position and results
shown by such Accounts unusual or misleading in any material respect. 

  

	18.7	The Accounts have been (and the Completion Accounts will be) prepared on a basis consistent with the audited accounts of, the Company for the two prior accounting periods without
any change in accounting policies used. 

  

 33 

	18.8	The Completion Accounts will be prepared on a basis consistent with that employed in preparing the Accounts and fairly represent the assets and liabilities and the profits and
losses of the Company as at and to the date for which they are prepared. 

  

	19.	FINANCIAL AND OTHER RECORDS 

  

	19.1	All financial and other records of the Company: 

  

	 	(a)	have been properly prepared and maintained; 

  

	 	(b)	constitute an accurate record of all matters required by law to appear in them; 

  

	 	(c)	do not contain any material inaccuracies or discrepancies; and 

  

	19.2	No notice has been received or allegation made that any of those records are incorrect or should be rectified. 

  

	19.3	All statutory records, including accounting records, required to be kept or filed by the Company have been properly kept or filed and comply with the requirements of the Companies
Acts. 

  

	19.4	All deeds and documents belonging to the Company are in the possession of the Company. 

  

	20.	CHANGES SINCE ACCOUNTS DATE 

 Since the Accounts Date: 
  

	 	(a)	the Company has conducted its business in the normal course and as a going concern; 

  

	 	(b)	there has been no material adverse change in the turnover, financial position or prospects of the Company; 

  

	 	(c)	The Company has not issued or agreed to issue any share or loan capital; 

  

	 	(d)	no dividend or other distribution of profits or assets has been, or agreed to be, declared, made or paid by the Company; 

  

	 	(e)	The Company has not borrowed or raised any money or taken any form of financial security and no capital expenditure has been incurred on any individual item by the Company and the
Company has not acquired, invested or disposed of (or agreed to acquire, invest or dispose of) any individual item by the Company; 

  

	 	(f)	no shareholder resolutions of the Company has been passed other than as routine business at the annual general meeting. 

  

 34 

	21.	EFFECT OF SALE ON SALE SHARES 

 Neither the acquisition of the Sale Shares by the Buyer nor compliance with the terms of this agreement will: 
  

	 	(a)	cause the Company to lose the benefit of any right or privilege it presently enjoys; or 

  

	 	(b)	relieve any person of any obligation to the Company (whether contractual or otherwise), or enable any person to determine any such obligation or any right or benefit enjoyed by the
Company, or to exercise any right in respect of the Company; or 

  

	 	(c)	give rise to, or cause to become exercisable, any right of pre-emption over the Sale Shares; or 

  

	 	(d)	entitle any person to receive from the Company any finder’s fee, brokerage or other commission in connection with the purchase of the Sale Shares by the Buyer; or

  

	 	(e)	result in any customer or supplier being entitled to cease dealing with the Company or to reduce substantially its existing level of business or to change the terms on which it
deals with the Company; or 

  

	 	(f)	so far as the Sellers are aware, result in any officer or senior Employee leaving the Company; or 

  

	 	(g)	result in a breach of contract, law, regulation, order, judgment, injunction, undertaking, decree or other like imposition; or 

  

	 	(h)	result in the loss or impairment of or any default under any licence, authorisation or consent required by the Company for the purposes of its business; or 

 

	 	(i)	result in the creation, imposition, crystallisation or enforcement of any Encumbrance on any of the assets of the Company; or 

  

	 	(j)	result in any present or future indebtedness of the Company becoming due and payable, or capable of being declared due and payable, prior to its stated maturity date or in any
financial facility of the Company being withdrawn; or 

  

	 	(k)	entitle any person to acquire, or affect the entitlement of any person to acquire shares in the Company. 

  

	22.	RETIREMENT BENEFITS 

  

	22.1	There is no arrangement under which the Company has or may have any obligation (whether or not legally binding) to provide or contribute towards pension, lump sum, death,
ill-health, disability or accident benefits in respect of its past or present officers and employees (Pensionable Employees) and no proposal or announcement has been made to any Employee or officer of the Company about the introduction,
continuance, increase or improvement of, or the payment of a contribution towards, any other pension, lump sum, death, ill-health, disability or accident benefit. 

  

 35 

 Schedule 5 Tax covenant 
  

	1.	INTERPRETATION 

  

	1.1	The definitions and rules of interpretation in this paragraph apply in this Tax Covenant. 

 Buyer’s Relief: means: 
  

	 	(a)	any Accounts Relief (as defined in paragraph l.l(a) of the definition of Liability for Taxation) or Repayment Relief (as defined in paragraph l.l(b) of the definition of Liability
for Taxation); 

  

	 	(b)	any Post Completion Relief of the Company (as defined in paragraph 1.l(c) of the definition of Liability for Taxation); and 

  

	 	(c)	any Relief, whenever arising, of the Buyer or any member of the Buyer’s Tax Group other than the Company. 

 Buyer’s Tax Group: the Buyer and any other company or companies which either are or become after Completion, or have within the seven years
ending at Completion, been treated as members of the same group as, or otherwise connected or associated in any way with, the Buyer for any Tax purpose. 
 Event: includes (without limitation) the expiry of a period of time, the Company becoming or ceasing to be associated with any other person for any Tax purpose or ceasing to be or becoming resident in any
country for any Tax purpose, the death or the winding up or dissolution of any person, and any transaction (including the execution and completion of all provisions of this agreement), event, act or omission whatsoever, and any reference to an Event
occurring on or before a particular date shall include Events which, for Tax purposes, are deemed to have, or are treated or regarded as having, occurred on or before that date. 
 Liability for Taxation: any liability of the Company to make a payment of or in respect of Tax, whether or not the same is primarily payable by the
Company and whether or not the Company has or may have any right of reimbursement against any other person or persons and also includes: 
  

	 	(a)	the Loss of any Relief (Accounts Relief) where such Relief has been taken into account in computing and so reducing or eliminating any provision for deferred Tax which
appears in the Completion Accounts (or which, but for such Relief, would have appeared in the Completion Accounts) or where such Relief was treated as an asset of the Company in the Completion Accounts or was taken into account in computing any
deferred Tax asset which appears in the Completion Accounts (Loss of an Accounts Relief), in which case the amount of the Liability for Taxation shall be the amount of Tax which would (on the basis of Tax rates current at the date of such
Loss) have been saved but for such Loss, assuming for this purpose that the Company had sufficient profits or was otherwise in a position to use the Relief; 

  

 36 

	 	(b)	the Loss of any right to repayment of Tax (including any repayment supplement) (Repayment Relief) which was treated as an asset in the Completion Accounts (Loss of a
Repayment Relief), in which case the amount of the Liability for Taxation shall be the amount of the Loss of the right to repayment and any related repayment supplement; 

  

	 	(c)	the set off or use against income, profits or gains earned, accrued or received or against any Tax chargeable in respect of an Event occurring on or before Completion of any Relief
(Post Completion Relief) or right to repayment of Tax (including any repayment supplement) which is not available before Completion, but arises after Completion in circumstances where, but for such set off or use, the Company would have had a
liability to make a payment of or in respect of Tax for which the Buyer would have been able to make a claim against the Sellers under this Tax Covenant (Loss of a Post-Completion Relief), in which case the amount of the Liability for
Taxation shall be the amount of Tax saved by the Company as a result of such set off or use; and 

  

	 	(d)	any liability of the Company to make a payment pursuant to an indemnity, guarantee or covenant entered into before Completion under which the Company has agreed to meet or pay a sum
equivalent to or by reference to another person’s Tax liability, in which case the Liability for Taxation shall be equal to the amount of the liability. 

 Loss: any reduction, modification, loss, counteraction, nullification, utilisation, disallowance or clawback for whatever reason. 
 Relief: includes any loss, relief, allowance, credit, exemption or set off in respect of Tax or any deduction in computing income, profits or gains for the purposes of Tax and any right to a repayment of Tax.

 Saving: the reduction or elimination of any liability of the Company to make an actual payment of corporation tax in respect of
which the Sellers would not have been liable under paragraph 2, by the use of any Relief arising wholly as a result of a Liability for Taxation in respect of which the Sellers have made a payment under paragraph 2 of this Tax Covenant. 

Tax: all forms of taxation and statutory, governmental, state, federal, provincial, local, government or municipal charges, duties, imposts,
contributions, levies, withholdings or liabilities wherever chargeable and whether of the UK or any other jurisdiction, and any penalty, fine, surcharge, interest, charges or costs relating thereto, and Taxation shall have the same meaning.

 Tax Claim: any assessment (including self-assessment), notice, demand, letter or other document issued or action taken by or on
behalf of any Taxation Authority from which it appears that the Buyer, the Company is or may be subject to a Liability for Taxation or other liability in respect of which the Sellers are or may be liable under this Tax Covenant. 
 Taxation Authority: HM Revenue & Customs, the Inland Revenue, HM Customs & Excise, the Department of Social Security and any
other governmental or other authority whatsoever competent to impose any Tax, whether in the United Kingdom or elsewhere. 
  

 37 

 Taxation Statute: any directive, statute, enactment, law or regulation wheresoever enacted or
issued, coming into force or entered into providing for or imposing any Tax and including orders, regulations, instruments, bye-laws or other subordinate legislation made under the relevant statute or statutory provision and any directive, statute,
enactment, law, order, regulation or provision which amends, extends, consolidates or replaces the same or which has been amended, extended, consolidated or replaced by the same. 
  

	1.2	References to gross receipts, income, profits or gains earned, accrued or received shall include any gross receipts, income, profits or gains deemed pursuant to the
relevant Taxation Statute to have been or treated or regarded as earned, accrued or received. 

  

	1.3	References to a repayment of Tax shall include any repayment supplement or interest in respect of it. 

  

	1.4	Any reference to something occurring in the ordinary course of business shall, without prejudice to the generality thereof, be deemed not to include:

  

	 	(a)	anything which involves, or leads directly or indirectly to, any liability of the Company to Tax that is the primary liability of, or properly attributable to, or due from another
person (other than a member of the Buyer’s Tax Group), or is the liability of the Company only because some other person, other than a member of the Buyer’s Tax Group, has failed to pay it or is the liability of the Company because it has
elected to be regarded as taxable or liable or to be regarded as having made a disposal; or 

  

	 	(b)	anything which relates to or involves the acquisition or disposal of an asset or the supply of services (including the lending of money, or the hiring or licensing of tangible or
intangible property) in a transaction which is not entered into on arm’s length terms; or 

  

	 	(c)	anything which relates to a transaction or arrangement which includes, or a series of transactions or arrangements which include, any step or steps having no commercial or business
purpose apart from the reduction, avoidance or deferral of a Liability for Taxation; or 

  

	 	(d)	anything which gives rise to a Liability for Taxation on deemed (as opposed to actual) profits or to the extent that it gives rise to a Liability for Taxation on an amount of
profits greater than the difference between the sale proceeds of an asset and the amount attributable to that asset in the Accounts or, in the case of an asset acquired since the Accounts Date, the cost of that asset; or 

  

	 	(e)	anything which involves, or leads directly or indirectly to, a change of residence of the Company for Tax purposes. 

  

 38 

	1.5	Unless the contrary intention appears, words and expressions defined in this agreement have the same meaning in this Tax Covenant and any provisions in this agreement concerning
matters of construction or interpretation also apply in this Tax Covenant. 

  

	2.	COVENANT 

  

	2.1	The Sellers covenant with the Buyer that, subject to the provisions of this Tax Covenant, the Sellers shall be jointly and severally liable to pay to the Buyer by way of repayment
of the Purchase Price for the Sale Shares, to the extent possible but not so as to limit the amount payable where not wholly possible, an amount equal to any: 

  

	 	(a)	Liability for Taxation resulting from or by reference to any Event occurring on or before Completion or in respect of any gross receipts, income, profits or gains earned, accrued or
received by the Company on or before Completion; 

  

	 	(b)	Liability for Taxation which arises solely as a result of the relationship for Tax purposes of the Company with any person other than a member of the Buyer’s Tax Group
whensoever arising; 

  

	 	(c)	any Liability for Taxation falling within paragraph 1.1(a) to paragraph l.l(d) of the definition of Liability for Taxation; 

  

	 	(d)	any Liability for Taxation which is a liability for inheritance tax which: 

  

	 	(i)	arises as a result of a transfer of value occurring or being deemed to occur on or before Completion (whether or not in conjunction with the death of any person whensoever
occurring); or 

  

	 	(ii)	has given rise at Completion to a charge on any of the Sale Shares or assets of the Company; or 

  

	 	(iii)	gives rise after Completion to a charge on any of the Sale Shares in or assets of the Company as a result of the death of any person within seven years of a transfer of value which
occurred before Completion; and 

  

	 	(e)	costs and expenses referred to in paragraph 10. 

  

	2.2	For the purposes of this Tax Covenant, in determining whether a charge on the shares in or assets of the Company arises at any time or whether there is a liability for inheritance
tax, the fact that any Tax may be paid in instalments shall be disregarded and such Tax shall be treated for the purposes of this Tax Covenant as becoming due or to have become due and a charge as arising or having arisen on the date of the transfer
of value or other date or Event on or in respect of which it becomes payable or arises. 

  

	2.3	The provisions of section 213 of IHTA 1984 (refund by instalments) shall be deemed not to apply to any liability for inheritance tax falling within this paragraph 2.

  

 39 

	3.	PAYMENT DATE AND INTEREST 

  

	3.1	Where the Sellers are liable to make any payment under paragraph 2 (including any payment pursuant to paragraph 2.1(e)), the due date for the making of that payment (Due
Date) shall be the earlier of the date falling seven days after the Buyer has served a notice on the Sellers demanding that payment and in a case: 

  

	 	(a)	that involves an actual payment of Tax by the Company (including any payment pursuant to paragraph 2.1(e)), the date on which the Tax in question would have had to have been paid to
the relevant Taxation Authority in order to prevent a liability to interest or a fine, surcharge or penalty from arising in respect of the Liability for Taxation in question; or 

  

	 	(b)	that falls within paragraph 1.1(a) of the definition of Liability for Taxation, the last date on which the Tax is or would have been required to be paid to the relevant
Taxation Authority in respect of the period in which the Loss of the Relief occurs (assuming for this purpose that the Company had sufficient profits or was otherwise in a position to use the Relief); or 

  

	 	(c)	that falls within paragraph 1.1(b) of the definition of Liability for Taxation, the date on which the repayment was due from the relevant Taxation Authority; or

  

	 	(d)	that falls within paragraph 1.1(c) of the definition of Liability for Taxation, the date on which the Tax saved by the Company is or would have been required to be paid to the
relevant Taxation Authority; or 

  

	 	(e)	that falls within paragraph 1.1(d) of the definition of Liability for Taxation not later than the fifth day before the day on which the Company is due to make the payment or
repayment. 

  

	3.2	Any dispute as to the amount specified in any notice served on the Sellers under paragraph 3.1(b) to paragraph 3.1(e) shall be determined by the auditors of the Company for the
time being, acting as experts and not as arbitrators (the costs of that determination being shared equally by the Sellers and the Buyer). 

  

	3.3	If any sums required to be paid by the Sellers under this Tax Covenant are not paid on the Due Date then, except to the extent that the Sellers’ liability under paragraph 2
compensates the Buyer for the late payment by virtue of it extending to interest and penalties, such sums shall bear interest (which shall accrue from day to day after as well as before any judgment for the same) at the rate of 2% per annum
over the base rate from time to time of Barclays Bank plc or (in the absence thereof) at such similar rate as the Buyer selects from the day following the Due Date up to and including the day of actual payment of such sums, such interest to be
compounded quarterly. 

  

	4.	EXCLUSIONS 

  

	4.1	The covenant contained in paragraph 2 shall not cover any Liability for Taxation to the extent that: 

  

	 	(a)	a provision or reserve in respect thereof is made in the Completion Accounts; or 

  

 40 

	 	(b)	it arises as a result of a transaction in the ordinary course of business of the Company between the Completion Accounts Date and Completion and is not an interest or penalty,
surcharge or fine in connection with Tax; or 

  

	 	(c)	it arises or is increased as a result only of any change in the law of Tax announced and coming into force after Completion (whether relating to rates of Tax or otherwise) or the
withdrawal of any extra-statutory concession previously made by a Taxation Authority (whether or not the change purports to be effective retrospectively in whole or in part); or 

  

	 	(d)	it would not have arisen but for a change after Completion in the accounting bases on which the Company values its assets (other than a change made in order to comply with UK GAAP);
or 

  

	 	(e)	the Buyer is compensated for any such matter under any other provision of this agreement; or 

  

	 	(f)	it would not have arisen but for a voluntary act or transaction carried out by the Buyer, the Company after Completion, being an act which: 

  

	 	(i)	is not in the ordinary course of business; or 

  

	 	(ii)	could reasonably have been avoided; or 

  

	 	(iii)	the Company was not legally committed to do under a commitment that existed on or before Completion; or 

  

	 	(iv)	the Buyer was aware would give rise to the Liability for Taxation in question. 

  

	5.	SAVINGS 

 If (at the
Sellers’ request and expense) the auditors for the time being of the Company that the Company has obtained a Saving, the Buyer shall, as soon as reasonably practicable thereafter, repay to the Sellers the lesser of: 
  

	 	(a)	the amount of the Saving (as determined by the auditors) less any costs incurred by the Buyer, the Company; and 

  

	 	(b)	the amount paid by the Sellers under paragraph 2 in respect of the Liability for Taxation which gave rise to the Saving less any part of that amount previously repaid to the Sellers
under any provision of this Tax Covenant or otherwise. 

  

	6.	RECOVERY FROM THIRD PARTIES 

  

	6.1	Where the Sellers have paid an amount in full discharge of a liability under paragraph 2 in respect of any Liability for Taxation and the Buyer, the Company is or becomes entitled
to recover from some other person (not being the Buyer, the Company or any other company within the Buyer’s Tax Group), any amount in respect of such Liability for Taxation, the Buyer shall or shall procure that the Company shall:

  

	 	(a)	notify the Sellers of its entitlement as soon as reasonably practicable; and 

  

 41 

	 	(b)	if required by the Sellers and, subject to the Buyer, the Company being indemnified by the Sellers against any Tax that may be suffered on receipt of that amount and any costs and
expenses incurred in recovering that amount, take or procure that the Company takes all reasonable steps to enforce that recovery against the person in question (keeping the Sellers fully informed of the progress of any action taken), provided that
the Buyer shall not be required to take any action pursuant to this paragraph 6.1 (other than an action against: 

  

	 	(i)	a Taxation Authority; or 

  

	 	(ii)	a person who has given Tax advice to the Company on or before Completion), 

 which, in the Buyer’s reasonable opinion, is likely to harm its, the Company’s commercial relationship (potential or actual) with that or any other person. 
  

	6.2	If the Buyer, the Company recovers any amount referred to in paragraph 6.1, the Buyer shall account to the Sellers for the lesser of: 

  

	 	(a)	any amount recovered (including any related interest or related repayment supplement) less any Tax suffered in respect of that amount and any costs and expenses incurred in
recovering that amount (save to the extent that amount has already been made good by the Sellers under paragraph 6.1(b)); and 

  

	 	(b)	the amount paid by the Sellers under paragraph 2 in respect of the Liability for Taxation in question. 

  

	7.	CORPORATION TAX RETURNS 

  

	7.1	The Sellers or their duly authorised agent shall, at the Sellers’ cost and expense, prepare the corporation tax returns and computations of the Company for all accounting
periods ended on or before the Accounts Date, to the extent that the same have not been prepared before Completion, and submit them to the Buyer. 

  

	7.2	The Buyer shall procure that the returns and computations referred to in paragraph 7.1 shall be authorised, signed and submitted to the relevant Taxation Authority without amendment
or with such amendments as the Buyer reasonably considers to be necessary and shall give the Sellers or their agent all such assistance as may reasonably be required (at the Sellers’ cost and expense) to agree those returns and computations
with the relevant Taxation Authority, provided that the Buyer shall not be obliged to take any such action as is mentioned in this paragraph 7.2 in relation to any return that is not full, true and accurate in all material respects.

  

 42 

	7.3	The Sellers or their duly authorised agent shall, at the Sellers’ cost and expense, prepare all documentation and shall have conduct of all matters (including correspondence)
relating to the corporation tax returns and computations of the Company for all accounting periods ended on or prior to the Accounts Date, provided that the Sellers shall not, without the prior written consent of the Buyer (not to be unreasonably
withheld or delayed), transmit any communication (written or otherwise) to the relevant Taxation Authority or agree any matter with the relevant Taxation Authority. 

  

	7.4	The Buyer shall procure that the Company, at the Sellers’ cost and expense, afford such access to their books, accounts and records as is necessary and reasonable to enable the
Sellers or their duly authorised agent to prepare the corporation tax returns and computations of the Company for all accounting periods ended on or before the Accounts Date and conduct matters relating to them in accordance with this paragraph 7.

  

	7.5	The Sellers shall take all reasonable steps to ensure that the corporation tax returns and computations of the Company for all accounting periods ended on or before the Accounts
Date are prepared and agreed with the relevant Taxation Authority as soon as possible. 

  

	7.6	For the avoidance of doubt: 

  

	 	(a)	where any matter relating to Tax gives rise to a Tax Claim, the provisions of paragraph 8 shall take precedence over the provisions of this paragraph 7; and

  

	 	(b)	the provisions of this paragraph 7 shall not prejudice the rights of the Buyer to make a Tax Claim under this Tax Covenant in respect of any Liability for Taxation.

  

	8.	CONDUCT OF TAX CLAIMS 

  

	8.1	If the Buyer or the Company becomes aware of a Tax Claim, the Buyer shall give or procure that notice in writing is given to the Sellers as soon as is reasonably practicable,
provided that if any of the Sellers receive any Tax Claim for whatever reason, they shall notify the Buyer in writing as soon as is reasonably practicable and the Buyer shall be deemed, on receipt of such notification, to have given the Sellers
notice of such Tax Claim in accordance with the provisions of this paragraph 8, provided always that the giving of such notice shall not be a condition precedent to the Sellers’ liability under this Tax Covenant. 

  

	8.2	 Provided the Sellers indemnify and secure the Buyer and the Company to the Buyer’s reasonable satisfaction against all liabilities, costs, damages or expenses
which may be incurred thereby including any additional Liability for Taxation, the Buyer shall take and shall procure that the Company shall take such action as the Sellers may reasonably request by notice in writing given to the Buyer, the Company
to avoid, dispute, defend, resist, appeal or compromise any Tax Claim (such a Tax Claim 

  

 43 

	 	 
where action is so requested being hereinafter referred to as a Dispute), provided that neither the Buyer, the Company shall be obliged to appeal or
procure an appeal against any assessment to Tax raised on any of them if, the Sellers having been given written notice of the receipt of such assessment, the Buyer, the Company have not within 14 days of the date of the notice received instructions
in writing from the Sellers to do so. 

  

	8.3	If: 

  

	 	(a)	the Sellers do not request the Buyer, the Company to take any action under paragraph 8.2 or fail to indemnify and secure the Buyer, the Company to the Buyer’s reasonable
satisfaction within a period of time (commencing with the date of the notice given to the Sellers) that is reasonable, having regard to the nature of the Tax Claim and the existence of any time limit in relation to avoiding, disputing, defending,
resisting, appealing or compromising such Tax Claim, and which period shall not in any event exceed a period of 14 days; or 

  

	 	(b)	any of the Sellers (or the Company before Completion) has been involved in a case involving fraudulent conduct or wilful default in respect of the Liability for Taxation which is
the subject matter of the Dispute; or 

  

	 	(c)	the Dispute involves an appeal against a determination by the General or Special Commissioners of the VAT and Duties Tribunal, unless the Sellers have obtained the opinion of Tax
counsel of at least 5 years’ standing that there is a reasonable prospect that the appeal will succeed, 

 the Buyer, the
Company shall have the conduct of the Dispute absolutely (without prejudice to its rights under this Tax Covenant) and shall be free to pay or settle the Tax Claim on such terms as the Buyer, the Company may in its absolute discretion considers fit.

  

	8.4	Subject to paragraph 8.3, by agreement in writing between the Buyer and the Sellers, the conduct of a Dispute may be delegated to the Sellers on such terms as may be agreed from
time to time between the Buyer and the Sellers provided that, unless the Buyer and the Sellers specifically agree otherwise in writing, the following terms shall be deemed to be incorporated into any such agreement: 

  

	 	(a)	the Buyer, the Company shall promptly be kept fully informed of all matters pertaining to a Dispute and shall be entitled to see and keep copies of all correspondence and notes or
other written records of telephone conversations or meetings and, in the event that there is no written record, shall be given an immediate report of all telephone conversations with any Taxation Authority to the extent that it relates to a Dispute;

  

	 	(b)	the appointment of solicitors or other professional advisers shall be subject to the written approval of the Buyer, such approval not to be unreasonably withheld or delayed;

  

 44 

	 	(c)	all material written communications pertaining to the Dispute which are to be transmitted to the relevant Taxation Authority shall first be submitted to the Buyer, the Company for
approval and shall only be finally transmitted if such approval is given, such approval not to be unreasonably withheld or delayed; and 

  

	 	(d)	the Sellers shall make no settlement or compromise of the Dispute or agree any matter in the conduct of the Dispute which is likely to affect the amount thereof or the future
liability to Tax of the Buyer, the Company without the prior approval of the Buyer, the Company (as may be appropriate), such approval not to be unreasonably withheld or delayed. 

  

	8.5	The Buyer shall provide and shall procure that the Company provides to the Sellers and the Sellers’ professional advisors reasonable access to premises and personnel and to any
relevant assets, documents and records within their power, possession or control for the purpose of investigating the matter and enabling the Sellers to take such action as is referred to in this paragraph 8. 

  

	8.6	Neither the Buyer, the Company shall be subject to any claim by or liability to any of the Sellers for non-compliance with any of the foregoing provisions of this paragraph 8 if the
Buyer, the Company has bona fide acted in accordance with the instructions of any one or more of the Sellers. 

  

	9.	GROSSING UP 

  

	9.1	All sums payable by the Sellers to the Buyer under this Tax Covenant shall be paid free and clear of all deductions or withholdings whatsoever unless the deduction or withholding is
required by law. If any deductions or withholdings are required by law to be made from any of the sums payable under this Tax Covenant, the Sellers shall pay to the Buyer such sum as will, after the deduction or withholding has been made, leave the
Buyer with the same amount as it would have been entitled to receive in the absence of any such requirement to make a deduction or withholding. 

  

	9.2	If the Buyer incurs a taxation liability which results from, or is calculated by reference to, any sum paid under this Tax Covenant, the amount so payable shall be increased by such
amount as will ensure that, after payment of the taxation liability, the Buyer is left with a net sum equal to the sum it would have received had no such taxation liability arisen. 

  

	9.3	If the Buyer would, but for the availability of a Buyer’s Relief, incur a taxation liability falling within paragraph 9.2, it shall be deemed for the purposes of that paragraph
to have incurred and paid that liability. 

  

	9.4	If the Buyer assigns the benefit of this Tax Covenant or this agreement, the Sellers shall not be liable pursuant to paragraph 9.1 or paragraph 9.2, save to the extent that the
Sellers would have been so liable had no such assignment occurred. 

  

 45 

	10.	COSTS AND EXPENSES 

 The covenant contained in paragraph 2 of this Tax Covenant shall extend to all costs and expenses incurred by the Buyer, the Company in connection with any matter included under paragraph 2 of this Tax Covenant and
the enforcement of rights under this Tax Covenant. 
  

 46 

 Schedule 6 Completion Accounts 
  

	1.	DEFINITIONS 

 The definitions in this
paragraph apply in this agreement.  
 Buyer’s Accountants: accountants nominated by the Buyer. 
 Completion Accounts: the accounts of the Company including the notes thereon as at 31 December 2007 and stating the amount of the Completion
Net Assets prepared in accordance with and subject to the provisions of this Schedule. 
 Completion Net Assets: the aggregate of the
amount of the issued share capital of the Company and the net amount of the consolidated capital and revenue reserves of the Company as shown in the Completion Accounts. 
 Draft Completion Accounts: a draft of the Completion Accounts prepared in accordance with the requirements of this Schedule. 
 Expert: a person appointed in accordance with paragraph 3 of Part 1 of this Schedule to resolve any dispute arising in the preparation of the Completion Accounts. 
 Seller’s Accountants: Lawfords Limited 
 UK GAAP: generally accepted accounting principles applied in the UK, incorporating Statements of Standard Accounting Practice, Financial Reporting Standards and Urgent Issues Task Force Abstract issued by the Accounting Standards
Board in each case as in force at the date of this agreement. 
  

	2.	PREPARATION OF COMPLETION ACCOUNTS 

  

	2.1	The Buyer shall use its reasonable endeavours to procure that the Buyer’s Accountants prepare the Draft Completion Accounts as soon as reasonably practical after the Completion
Date and in any event not later than 28 days thereafter. 

  

	2.2	The Sellers shall give such assistance and access to information as the Buyer’s Accountants may reasonably require to enable them to prepare the Draft Completion Accounts
within the period referred to in paragraph 2.1. Subject to the preparation of the Draft Completion Accounts in accordance with paragraph 2.1, the Buyer shall deliver a copy of the Draft Completion Accounts to the Sellers’ Accountants no later
than 35 days after the Completion Date. 

  

	2.3	The Sellers shall ensure that, within 7 days starting on the day after delivery of the Draft Completion Accounts to the Sellers’ Accountants, the Sellers’ Accountants
submit to the Buyer and the Buyer’s Accountants a report stating whether or not they agree with the Completion Accounts (and in the case of disagreement, the areas of dispute). 

  

 47 

	2.4	If the Sellers’ Accountants agree the Draft Completion Accounts, the parties shall ensure that the Buyer’s Accountants and the Sellers’ Accountants certify the Draft
Completion Accounts as being the Completion Accounts within 10 days of the Buyer’s Accountants receiving the report of the Sellers’ Accountants, and the Completion Accounts shall then become final and binding on the parties for the purpose
of this agreement. 

  

	2.5	If the Sellers’ Accountants disagree with the Draft Completion Accounts, the parties shall endeavour to agree any matter in dispute. If the matter in dispute is resolved by
agreement between the parties, the Buyer’s Accountants and the Sellers’ Accountants shall certify the Draft Completion Accounts (subject to any amendment agreed between the parties) as being the Completion Accounts and they shall become
final and binding on the parties for the purpose of this agreement. 

  

	2.6	If the parties are unable to resolve any disagreement within 21 days of the delivery of the report of the Sellers’ Accountants to the Buyer’s Accountants, the disagreement
shall be referred to an Expert. 

  

	2.7	Save as provided in paragraph 3, the Buyer and the Sellers shall bear and pay their own costs incurred in connection with the preparation and agreement of the Draft Completion
Accounts and Completion Accounts. 

  

	3.	EXPERT 

  

	3.1	An Expert is a person appointed in accordance with this paragraph 3 to resolve a dispute arising in relation to the Completion Accounts. 

  

	3.2	The parties shall agree on the appointment of an independent Expert. 

  

	3.3	If the parties are unable to agree on an Expert within seven days of either party serving details of a suggested expert on the other, either party may request the President of the
Institute of Chartered Accountants to appoint an Expert of repute. 

  

	3.4	The Expert shall prepare a written decision and give notice (including a copy) of the decision to the parties within a maximum of three months of the matter being referred to him.

  

	3.5	All matters under this paragraph 3 shall be conducted, and the Expert’s decision shall be written, in the English language. 

  

	3.6	The parties are entitled to make submissions to the Expert including oral submissions and shall provide (or procure that others provide) the Expert with such assistance and
documents as the Expert reasonably requires for the purpose of reaching a decision. 

  

	3.7	To the extent not provided for by this paragraph 3, the Expert may, in his reasonable discretion, determine such other procedures to assist with the conduct of the determination as
he considers just or appropriate, including (to the extent he considers necessary) instructing professional advisers to assist him in reaching his determination. 

  

 48 

	3.8	Each party shall, with reasonable promptness, supply each other with all information and give each other access to all documentation and personnel as each other reasonably requires
to make a submission under this paragraph 3. 

  

	3.9	The Expert shall act as an expert and not as an arbitrator. The Expert shall determine any dispute, which may include any issue involving the interpretation of any provision of this
agreement, his jurisdiction to determine the matters and issues referred to him or his terms of reference. The Expert’s written decision on the matters referred to him shall be final and binding in the absence of manifest error or fraud.

  

	3.10	Each party shall bear its own costs in relation to the Expert. The Expert’s fees and any costs properly incurred by him in arriving at his determination (including any fees and
costs of any advisers appointed by the Expert) shall be borne by the parties equally or in such other proportions as the Expert directs. 

  

	4.	BASIS OF COMPUTATION 

  

	4.1	The Completion Accounts shall be prepared in accordance with FRSSE and (to the extent consistent) UK GAAP and the accounting principles, practices, policies and procedures
applied in the Accounts (to the extent that these are consistent with FRSSE and UK GAAP). 

  

	4.2	The Completion Accounts shall: 

  

	 	(a)	take account of information available to the parties at Completion and not take account of any event happening after Completion (except in relation to information known to the
parties about that event at Completion); and 

  

	 	(b)	shall be prepared as if the Company had remained under the ownership of the Sellers. 

 Signed by Jonathan Ian Grant Strike 
  

 49 

			
	 Signed by Shelley Jane Strike
	 	
		
	 Signed by David Reeve
 for and on behalf of CMT Europe Limited
	 	Director

  

 50

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