Document:

Exhibit
10.5

 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR THE SECURITIES ACT OF
ANY STATE AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED UNLESS SUCH
OFFER, SALE OR TRANSFER IS REGISTERED UNDER THE 1933 ACT OR APPLICABLE STATE
SECURITIES ACT OR IS EXEMPT FROM SUCH REGISTRATION.

 

Void after 5:00
P.M. (Eastern Time), May 20, 2015

except as otherwise provided herein.

	
   

  	
   

  	
  Warrant to Purchase

  
	
  Date: January 22, 2007

  	
   

  	
  347,271 Shares of Common Stock

  

 

WARRANT

TO PURCHASE COMMON STOCK OF

CONSONUS TECHNOLOGIES, INC.

FOR VALUE RECEIVED, this
certifies that Avnet, Inc., and its assigns (the “Warrant Holder”), is entitled
to purchase from Consonus Technologies, Inc., a Delaware corporation (the
“Company”), 347,271 fully paid and nonassessable shares of Common Stock of the
Company (the  “Common Stock”), subject to
adjustment as provided herein, at a purchase price per share, subject to
adjustment from time to time as provided herein, of $0.00026 (the “Warrant
Price”) Except as otherwise provided herein, this Warrant is exercisable at any
time beginning on the date hereof and ending at 5:00 P.M. (Eastern Time) on May
20, 2015 (the “Exercise Period”).

1.             Definitions.

“Capital Stock” shall mean
the Company’s Common Stock and any other stock of any class, whether now or
hereafter authorized, which has the right to participate in the distribution of
earnings and assets of the Company without limit as to amount or percentage.

“Fair Market Value” shall
mean: (a) the average of the closing prices of the Common Stock’s sales on all
domestic securities exchanges on which such Common Stock may at the time be
listed, or if there have been no sales on any such exchange on any day, the
average of the highest bid and lowest asked prices on all such exchanges at the
end of such day, or if on any day Common Stock is not so listed, the average of
the representative bid and asked prices quoted on the NASDAQ National Market
System as of 4:00 p.m., Mountain Time, on such day, or if Common Stock is not
quoted in the NASDAQ National Market System, the average of the highest bid and
lowest asked prices on such day in the domestic over-the-counter market as
reported by the National Quotation Bureau Incorporated, or any similar
successor organization, in each case averaged over a period of five (5) days
consisting of the day as of which the “fair market value” is being determined
and the four (4) consecutive business days prior to such day; and (b) if the
Common Stock is not so listed or admitted to the unlisted trading privileges
and bid and asked prices are not so reported, the fair market value of a share
shall be an amount determined in such reasonable manner as may be prescribed by
the Board of Directors of the Company; provided, however, that if
the Warrant Holder shall disagree with such determination by the Board of
Directors, the Company shall engage a reputable third-party valuation provider
reasonably satisfactory to the Warrant Holder to make such determination. The
Company shall pay such third-party provider’s fees and other costs in
connection with such determination, except that if the third-party provider’s
determination is within ten percent (10%) of the determination of the Board of
Directors, the Warrant Holder shall pay such fees and other costs of the
third-party provider.

 

 

 

                “Person” shall mean an individual, corporation,
limited liability company, partnership, other business entity, trust,
unincorporated organization or a government or any agency or political
subdivision.

 

                “Underlying Shares” shall mean
the Common Stock purchased upon exercise of this Warrant.

 

2.             Method of Exercise of Warrants.  Subject to the provisions of this Warrant,
the Warrant Holder shall have the right, which may be exercised in whole or in
part, to purchase from the Company, and the Company shall issue and sell to
such Warrant Holder, the number of fully paid and non-assessable shares
of Common Stock specified in this Warrant. 
Such right shall be exercised by surrender to the Company at its
principal office at 301 Gregson Drive, Cary, NC 27511, or such other location
which shall at that time be the principal office of the Company (the “Principal
Office”), of this Warrant together with the form of Purchase Agreement (attached
hereto as Rider A) attached thereto duly completed and signed, and upon
payment to the Company of the Warrant Price, as adjusted in accordance with the
provisions of Section 11, for the number of Underlying Shares in respect
of which this Warrant is then exercised. 
Payment of such Warrant Price may be made (i) in cash, (ii) by certified
check or bank draft payable to the order of the Company, (iii) by wire transfer
of immediately available funds or (iv) by surrender of shares of Common
Stock or by foregoing the issuance of a number of Underlying Shares pursuant to
this Warrant, in either case, having an aggregate Fair Market Value equal to
the aggregate Warrant Price for the Underlying Shares for which this Warrant is
being exercised; provided, however, in the event that (a) at the time of such
exercise the Common Stock is not listed or quoted or admitted for trading on
any national securities exchange or automated quotation system in the United
States, as the case may be, and (b) the Warrant Holder disputes the value
determination by the Board of Directors of the Company described in clause (b)
of the definition of Fair Market Value, the Warrant Holder may, within five (5)
business days from being provided notice of such determination, as its sole and
exclusive remedy, withdraw its request to make payment of the Warrant Price in
accordance with this clause (iv) accompanied by such payment in accordance with
clauses (i), (ii) or (iii) above.  In the
event the Warrant Holder withdraws its request to make payment of the Warrant
Price in accordance with clause (iv) above by operation of the preceding
sentence and determines to make the applicable payment in accordance with
clauses (i), (ii) or (iii) above, the exercise date with respect to this
Warrant shall remain the original date of exercise by the Warrant Holder and
shall in no way be deferred, or deemed to be deferred, to a later day as a
result thereof, and no other term related to the exercise of this Warrant shall
change other than the form of payment of the Warrant Price.  Upon such surrender of this Warrant, delivery
of the Purchase Agreement and payment of the Warrant Price as aforesaid, the
Company shall issue and cause to be delivered with all reasonable dispatch to
or upon the written order of the Warrant Holder, in such name or names as the
Warrant Holder may designate, a certificate or certificates for the number of
full Underlying Shares so purchased, together with cash, as provided in
Section 16 of this Warrant, in respect of any fraction of an Underlying
Share otherwise issuable upon such surrender. 
Such certificate or certificates shall be deemed to have been issued and
any Person so designated to be named therein shall be deemed to have become a
holder of record of such Underlying Shares as of the date of the surrender of
this Warrant, with the Purchase Agreement, and payment of the Warrant Price as
aforesaid.  If this Warrant is exercised
in part prior to the end of the Exercise Period, the Company shall issue a new
warrant for the remaining number of the Common Shares specified in this
Warrant.

 

3.             Exchange.  This Warrant is exchangeable, upon the
surrender thereof by the holder thereof at the Principal Office of the Company,
for new warrants of like tenor registered in such holder’s name and
representing in the aggregate the right to purchase the number of shares
purchasable under this Warrant being exchanged, each of such new warrants to
represent the right to subscribe for and purchase such number of shares as
shall be designated by said holder at the time of such surrender.

 

4.             Certain
Covenants of the Company.  The
Company covenants and agrees that all shares which may be issued upon the
exercise of this Warrant, will, upon issuance, be duly and validly issued,
fully paid and nonassessable and free from all taxes, liens and charges with
respect to the issue thereof; and will, upon issuance, be listed on each
national securities exchange, if any, on which the other outstanding shares of
the Company are then listed to the extent such listing is not prohibited by the
applicable rules of such exchange, and without limiting the generality of the
foregoing, the Company covenants and agrees that it will from time to time take
all such actions as may be required to assure that the par value per share of
the 

 

2

 

Common Stock is at all times equal to or less than the then effective
purchase price per share of the Common Stock issuable pursuant to this
Warrant.  The Company further covenants
and agrees that during the Exercise Period, the Company will at all times have
authorized, and reserved for the purpose of issuance upon exercise of the
purchase rights evidenced by this Warrant, a sufficient number of shares of its
Common Stock to provide for the exercise of the rights represented by this
Warrant.  During the Exercise Period,
Company will notify Warrant Holder of all meetings of Company’s Board of
Directors (and all meetings of any executive committee of such Board), with
such notice being given at the same time and in the same manner as Company
notifies the members of such Board (or executive committee, if
applicable).  During the Exercise Period,
Warrant Holder shall have the right to designate one individual to attend (at
Warrant Holder’s sole expense) each such meeting in a non-voting, observer
capacity, and in this connection, Company will provide to such individual
copies of all information packages, slides and other review and/or presentation
materials (if any) made available to members of such Board; provided, however,
that Company shall have the right without prior written notice to exclude the
Warrant Holder representative from any part of the discussion (and/or refrain
from delivering copies of materials) if the Board determines in good faith that
the material to be discussed is privileged or of such a sensitive nature that
such representative should not be present. 
In addition, Company shall provide such representative with copies of
all written materials supplied by Company to potential third party investors
during the Exercise Period.  All
information learned by the representative by attending such meeting and all
written materials delivered to the representative shall be treated as
confidential information.

 

5.             INTENTIONALLY DELETED.

 

6.             INTENTIONALLY
DELETED.

 

7.             Inspection Rights.  During the Exercise Period, Warrant Holder is
entitled to inspect and copy, during regular business hours at the Company’s
Principal Office, any of the books and records of the Corporation if the
Warrant Holder gives the Company written demand at least five (5) business days
before the date on which the Warrant Holder wished to inspect and copy such
records.

 

8.             Registration
Under the Securities Act. The Warrant Holder shall have the following
Registration Rights:

 

(a)           Registration
Rights - Piggyback. Subject to the limitation on registration rights
provided for in this Section 8, if at any time during the Exercise Period, the
Company shall file a registration statement (other than on Form S-4, Form S-8,
or any successor form and other than in connection with the company’s initial
public offering, whether or not oversubscribed) with the Securities and
Exchange Commission (the “Commission”) while this Warrant is outstanding, the
Company shall give the Warrant Holder at least thirty (30) days prior written
notice of the filing of such registration statement. If requested by the
Warrant Holder in writing within thirty (30) days after receipt of any such
notice, the Company shall, at the Company’s sole expense, register or qualify
all or, at the Warrant Holder’s option, any portion of the Underlying Shares of
the Warrant Holder, concurrently with the registration of such other
securities, all to the extent requisite to permit the public offering and sale
of the Underlying Shares through the facilities of all appropriate securities
exchanges and the over-the-counter market, and will use its best efforts
through its officers, directors, auditors and counsel to cause such
registration statement to become effective as promptly as practicable.
Notwithstanding the foregoing, if the managing underwriter of any such offering
shall advise the Company that, in its opinion, the distribution of all or a
portion of the Underlying Shares requested to be included in the registration concurrently
with the securities being registered by the Company would materially adversely
affect the distribution of such securities by the Company for its own account,
then the Company shall not be required to include such Underlying Shares in
such registration, provided that any such reduction shall be on a pro-rata
basis among all selling shareholders; provided, however, (i) that
in the event that the Company does not intend to include all the requested
Underlying Shares in the registration statement due to such advice received
from the managing underwriter, if the Company includes in the registration
statement any securities other than securities being offered by the Company for
its own account, then the Company shall include any of the Underlying Shares
requested to be included in such registration statement by the Warrant Holder
and any such other securities on a pro-rata basis and (ii) if the Company does
not include all of the requested Underlying Shares in the registration
statement, then the Company will within six (6) months after the registration
statement becomes effective file at is sole expense a new registration
statement relating to those Underlying Shares which the Company did not include
in the prior 

 

3

 

registration statement, and the Company will use its best efforts
to cause the registration statement to become effective as promptly as
practical (provided, however, that the Company and/or the underwriters
for the registration called for under this clause (ii) shall have the right to
defer such registration for a period of not more than ninety (90) days upon a
good faith determination that marketing factors necessitate such a delay).

 

                (b)           Registration Right - Demand.
Subject to the limitation on registration rights provided for in this Section
8, if, on any one occasion 180 days after the Company’s initial public offering
and during the Exercise Period the Company shall receive a written request from
the Warrant Holder to register the sale of all or part of the Underlying
Shares, which sale is reasonably expected to generate aggregate proceeds of at
least $1,000,000, the Company shall, within ninety (90) days thereafter,
prepare and file with the Commission an amendment to any then-outstanding
registration statement or, as appropriate, a new registration statement
sufficient to permit the public offering and sale of the Underlying Shares
through the facilities of all appropriate securities exchanges and the
over-the-counter market, and will use its best efforts through its officers,
directors, auditors and counsel to cause such registration statement to become
and remain effective (including taking such steps as are necessary to obtain
removal of any stop order) as promptly as practicable (provided, however,
that the Company and/or the underwriters for the registration called for under
this Section 8(b) shall have the right to defer such registration for a period
of not more than ninety (90) days upon a good faith determination that
marketing factors necessitate such a delay). All expenses (including up to
$15,000 for fees of a single special counsel for the Warrant Holder) incurred
in connection with such registration (provided that such expenses are
reasonable in the case of expenses incurred by the Warrant Holder) shall be
borne by the Company.  The Warrant Holder may, at its option,
distribute the Underlying Shares covered by its demand by means of an
underwriting.  If the Warrant Holder
intends to distribute the Underlying Shares covered by its demand by means of
an underwriting, Warrant Holder shall so advise the Company as part of its
demand made pursuant to this Section 8(b), including the identity of the
managing underwriter.  The Company shall,
together with the Warrant Holder, enter into an underwriting agreement in
customary form with the underwriter or underwriters selected by the Warrant
Holder and reasonably satisfactory to the Company.

 

(c)           Blue-Sky.
In the event of a registration pursuant to the provisions of this Section 8,
the Company shall use its best efforts to cause the Underlying Shares so
registered to be registered or qualified for sale under the securities or “blue
sky” laws of such jurisdictions as the Warrant Holder or such holders may
reasonably request; provided, however, that the Company shall not
be required to qualify to do business or to file a general consent to service
of process in any state by reason of this Section 8(c) in which it is not
otherwise required to qualify to do business or to file a general consent to
service of process.

 

(d)           Effective
Period. The Company shall keep effective any registration or qualification
contemplated by this Section 8 for a period of at least six (6) months or, if
earlier, until the Warrant Holder has completed the distribution of related
thereto; provided, however, that, if the Company is required to
keep any such registration or qualification in effect with respect to
securities other than the Underlying Shares beyond such six (6) month period,
the Company shall keep such registration or qualification in effect as it
relates to the Underlying Shares for so long as such registration or
qualification remains or is required to remain in effect in respect of such
other securities.

 

(e)           Copies
of Prospectus. In the event of a registration pursuant to the provisions of
this Section 8, the Company shall furnish to the Warrant Holder such reasonable
number of copies of the registration statement and of each amendment and
supplement thereto (in each case, including all exhibits), such reasonable
number of copies of each prospectus contained in such registration statement
and each supplement or amendment thereto (including each preliminary
prospectus), all of which shall conform to the requirements of the 1933 Act and
the rules and regulations thereunder, and such other documents, as the Warrant
Holder may reasonably request to facilitate the disposition of the Underlying
Shares included in such registration.

 

4

 

(f)            Prior
Exercise. The Warrant Holder demanding registration pursuant to Section
8(b) hereof shall not be required to exercise the purchase rights represented
by this Warrant prior to demanding registration rights hereunder. If, however,
the Warrant Holder demands such registration rights and the Company prepares
and files a registration statement or post-effective amendment as a result of
such demand and the Warrant Holder thereafter elects not to exercise the
purchase rights represented by this Warrant during the period that such registration
statement or post-effective amendment is effective, the demand registration
right provided by this Section 8 shall nonetheless have been satisfied by the
Company, and the Warrant Holder shall have no further demand rights pursuant to
Section 8(b).

 

(g)           Cross-Indemnity.
In the event of a registration pursuant to the provisions of this Section 8,
the Company shall enter into a cross-indemnity agreement and contribution
agreement, each in customary form, with each underwriter, if any, and, if requested,
enter into an underwriting agreement containing conventional representations,
warranties, allocation of expenses and customary closing conditions, including,
without limitation, opinions of counsel and accountants’ cold comfort letters,
with any underwriter who acquires any Underlying Shares.

 

(h)           Current
Filings. The Company agrees that at all times after it has become subject
to the reporting requirements of the Securities Exchange Act of 1934, as
amended, and  until the earlier of (i)
the period when all the Underlying Shares have been sold under a registration
statement or pursuant to Rule 144 under the 1933 Act or (ii) the date five (5)
years after the date on which the Underlying Shares are issued upon exercise of
this Warrant in accordance with the terms hereof, it shall keep current in
filing all reports, statements and other materials required to be filed with
the Commission to permit holders of the Underlying Shares to sell such
securities under Rule 144.

 

(i)            Registration
on Form S-3. In the event the Company receives from the Warrant Holder a
request that the Company effect a registration on Form S-3 with respect to the
Underlying Shares and if Form S-3 is available for such offering by the Warrant
Holder, the Company shall, as soon as practicable, effect such registration as
would permit or facilitate the sale and distribution of the Underlying Shares
as are specified in the request. All expenses incurred in connection with the
registration pursuant to this Section 8(i) shall be borne by the Company.  Registrations pursuant to this Section 8(i)
shall not be counted as a demand for registration pursuant to Section 8(b)
hereof, and holders of other securities of the Company having registration
rights shall have the ability to be included in the registration on Form S-3.

 

                (j)            Restriction.  No registrations rights superior to those set
forth in this Section 8 shall be granted to any other Person.

 

9.             Market
Stand-Off Agreement. Warrant Holder hereby
agrees that during a period, not to exceed 180 days, following the effective
date of the Company’s initial offering of its securities to the public, to the
extent required by the underwriters with respect to such initial public
offering, it shall not, to the extent requested by the Company and any underwriter,
sell, pledge, transfer, make any short sale of, loan, grant any option for the
purchase of, or otherwise transfer or dispose of (other than to donees who
agree to be similarly bound) any Capital Stock (including, without limitation,
the Underlying Shares) held by it at any time during such period except
Underlying Shares, if any, included in such registration.  In order to enforce the foregoing covenant,
the Company may impose stop-transfer instructions with respect to the
Capital Stock held by Warrant Holder until the end of such period.

 

10.           Indemnification.

 

                (a)
          Whenever pursuant to Section 8 a
registration statement relating to this Warrant or any Underlying Shares is
filed under the 1933 Act, amended or supplemented, the Company will indemnify
and hold harmless each holder of the securities covered by such registration
statement, amendment or supplement (such holder being hereinafter called the “Distributing
Holder”), and each Person, if any, who controls (within the meaning of the 1933
Act) the Distributing Holder, and each underwriter (within the meaning of the
1933 Act) of such securities and each Person, if any, who controls (within the
meaning of the 1933 Act) any such underwriter, against any losses, claims,
damages or liabilities, joint or several, to which the Distributing Holder, any
such controlling Person or any such underwriter may become subject, 

 

5

 

under the 1933 Act or otherwise, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof)
arise out of or are based upon any untrue statement or alleged untrue statement
of any material fact contained in any such registration statement or any
preliminary prospectus or final prospectus constituting a part thereof or any
amendment or supplement thereto, or arise out of or are based upon the omission
to state therein a material fact required to be stated therein or necessary to
make the statements therein not misleading; and will reimburse the Distributing
Holder and each such controlling Person and underwriter for any legal or other
expenses reasonably incurred by the Distributing Holder or such controlling
Person or underwriter in connection with investigating or defending any such
loss, claim, damage, liability or action; provided, however, that
the Company will not be liable in any such case to the extent that any such
loss, claim, damage or liability arises out of or is based upon an untrue
statement or alleged untrue statement or omission or alleged omission made in
said registration statement, said preliminary prospectus, said final prospectus
or said amendment or supplement in reliance upon and in conformity with written
information furnished by such Distributing Holder for use in the preparation
thereof; and provided, further, that in the event of any claim by
the Company against the Warrant Holder arising out of or based upon an untrue
statement or alleged untrue statement or omission or alleged omission made in
said registration statement, said preliminary prospectus, said final prospectus
or said amendment or supplement in reliance upon and in conformity with written
information furnished by the Warrant Holder for use in the preparation thereof,
the Warrant Holder’s damages to the Company shall not exceed the sum received
by the Warrant Holder from the issuance of the Underlying Shares in connection
with any such registration statement, preliminary prospectus, final prospectus
or amendment or supplement.

 

                (b)           Promptly after receipt by an
indemnified party under this Section 10 of notice of the commencement of any
action, such indemnified party if a claim in respect thereof is to be made
against any indemnifying party, shall give the indemnifying party notice of the
commencement thereof; but the omission so to notify the indemnifying party will
not relieve it from any liability which it may have to any indemnified party
otherwise than under this Section 10.

 

(c)           In
case any such action is brought against any indemnified party, and it notifies
an indemnifying party of the commencement thereof, the indemnifying party will
be entitled to participate in, and, to the extent that it may wish, jointly
with any other indemnifying party similarly notified, assume the defense
thereof, with counsel reasonably satisfactory to such indemnified party and
under such circumstances, the indemnifying party will not be liable to such
indemnified party for any legal or other expenses subsequently incurred by such
indemnified party in connection with the defense thereof other than reasonable
costs of investigation.

 

11.           Anti-Dilution Adjustments.

 

                (a)           The Warrant Price and the number of
Underlying Shares purchasable upon exercise of this Warrant shall be subject to
adjustment from time to time pursuant to this Section 11.

 

                (b)           Subject to Section 12 hereof, if and whenever on or
after the date hereof the Company issues or sells, or in accordance with
Section 12 is deemed to have issued or sold, any shares of its Common
Stock without consideration or at a price per share less than the Fair Market
Value in effect immediately prior to such issuance or sale (or deemed issuance
or sale), then in each such case, the Warrant Price, upon each such issuance or
sale, except as hereinafter provided, shall be lowered so as to be equal to an
amount determined by multiplying the Warrant Price in effect immediately prior
to such issuance or sale by the following fraction:

 

	
   

  	
  P
  + N

  	
   

  
	
   

  	
  P + F

  	
   

  
	
   

  	
   

  	
   

  

where:

 

P =                               the number of shares of
Common Stock outstanding immediately prior to such issuance or sale, assuming
the exercise or conversion of all outstanding 

 

6

 

                                                securities
deemed exercisable for or convertible into Common Stock at any time on or after
the date of such calculation

 

N =                             the number of shares of
Common Stock which the net aggregate consideration, if any, received by the
Company for the total number of such additional shares of Common Stock so
issued or sold would purchase at the Fair Market Value in effect immediately
prior to such issuance or sale

 

F =                               the number of additional
shares of Common Stock so issued or sold

 

In such event, the number of shares of Common Stock issuable upon the
exercise of any Warrant shall be increased to the number obtained by dividing
(i) the product of (a) the number of Underlying Shares issuable upon the
exercise of this Warrant before such adjustment, and (b) the Warrant Price in
effect immediately prior to the issuance giving rise to this adjustment by (ii)
the new Warrant Price determined in accordance with the above formula.

 

                (c)           Notwithstanding the foregoing, there shall be no
adjustment in the Warrant Price as a result of (i) any issue or sale (or
deemed issue or sale) of options to acquire shares of Common Stock to employees
or directors of the Company, or shares of Common Stock issuable pursuant to the
exercise of such options, pursuant to stock option plans approved by the Board
of Directors of the Company or (ii) any issue (or deemed issue by operation of
applicable anti-dilution protections afforded thereto) of shares of Common
Stock that are issuable upon exercise of this Warrant (collectively, “Exempt
Issuances”).

 

                (d)           All calculations under this
Section 11 shall be made to the nearest one-tenth (1/10th) of a cent or to
the nearest one-hundredth (1/100th) of a share, as the case may be.  No adjustment in the Warrant Price or the
number of Underlying Shares purchasable upon exercise of this Warrant is
required if the amount of such adjustment would be less than $0.01 or one-tenth
(1/10th) of a share of Common Stock, as the case may be; provided, however,
that any adjustments which by reason of this Section 11(d) are not required to
be made will be carried forward and given effect in any subsequent adjustment.

 

12.           Effect on Warrant Price of Certain Events.  For purposes of determining the adjusted
Warrant Price under Section 11, the following shall be applicable:

 

                (a)           Issuance of Rights or Options.  Except for Exempt Issuances, if the Company
in any manner grants or sells any options and the price per share for which
Common Stock is issuable upon the exercise of such options at the time of the
granting or sale of such options, or upon conversion or exchange of any
convertible securities issuable upon exercise of such options at the time of
the granting or sale of such options, is less than the Fair Market Value in
effect immediately prior to the time of the granting or sale of such options,
then the total maximum number of shares of Common Stock issuable upon the
exercise of such options or upon conversion or exchange of the total maximum
amount of such convertible securities issuable upon the exercise of such
options shall be deemed to be outstanding and to have been issued and sold by
the Company at the time of the granting or sale of such options for such price
per share.  For purposes of this
paragraph, the “price per share for which Common Stock is issuable” shall be
determined by dividing (A) the total amount, if any, received or
receivable by the Company as consideration for the granting or sale of such
options, plus the minimum aggregate amount of additional consideration payable
to the Company upon exercise of all such options, plus in the case of such
options which relate to convertible securities, the minimum aggregate amount of
additional consideration, if any, payable to the Company upon the issuance or
sale of such convertible securities and the conversion or exchange thereof, by
(B) the total maximum number of shares of Common Stock issuable upon the
exercise of such options or upon the conversion or exchange of all such
convertible securities issuable upon the exercise of such options.  No further adjustment of the Warrant Price
shall be made when convertible securities are actually issued upon the exercise
of such options or when Common Stock is actually issued upon the exercise of
such options or the conversion or exchange of such convertible securities.

 

7

 

                (b)           Issuance of Convertible Securities.  Except for Exempt Issuances, if the Company
in any manner issues or sells any convertible securities and the price per
share for which Common Stock is issuable upon conversion or exchange thereof at
the time of the granting or sale of such convertible securities is less than
the Fair Market Value in effect immediately prior to the time of such issue or
sale, then the maximum number of shares of Common Stock issuable upon
conversion or exchange of such convertible securities shall be deemed to be
outstanding and to have been issued and sold by the Company at the time of the
issuance or sale of such convertible securities for such price per share.  For the purposes of this paragraph, the “price
per share for which Common Stock is issuable” shall be determined by dividing
(A) the total amount received or receivable by the Company as consideration for
the issue or sale of such convertible securities, plus the minimum aggregate
amount of additional consideration, if any, payable to the Company upon the
conversion or exchange thereof, by (B) the total maximum number of shares of
Common Stock issuable upon the conversion or exchange of all such convertible
securities.  No further adjustment of the
Warrant Price shall be made when Common Stock is actually issued upon the conversion
or exchange of such convertible securities, and if any such issue or sale of
such convertible securities is made upon exercise of any options for which
adjustments of the Warrant Price had been or are to be made pursuant to other
provisions of this Section 12, no further adjustment of the Warrant Price
shall be made by reason of such issue or sale.

 

                (c)           Change in Option Price or
Conversion Rate.  Except for Exempt
Issuances, if the purchase price provided for in any options outstanding after
the date hereof, the additional consideration, if any, payable upon the
conversion or exchange of any convertible securities outstanding after the date
hereof or the rate at which any such convertible securities are convertible
into or exchangeable for Common Stock changes at any time (excluding changes
resulting from anti-dilution provisions thereof), the Warrant Price in effect
at the time of such change shall be immediately adjusted to the Warrant Price
which would have been in effect at such time had such options or convertible
securities still outstanding provided for such changed purchase price,
additional consideration or conversion rate, as the case may be, at the time
initially granted, issued or sold.  For
purposes of Section 12, if the terms of any option or convertible security
which was outstanding as of the date hereof are changed in the manner described
in the immediately preceding sentence, then such option or convertible security
and the Common Stock deemed issuable upon exercise, conversion or exchange
thereof shall be deemed to have been issued as of the date of such change;
provided that no such change shall at any time cause the Warrant Price
hereunder to be increased.

 

                (d)           Treatment of Expired Options and
Unexercised Convertible Securities. 
Upon the expiration of any option or the termination of any right to
convert or exchange any convertible security without the exercise of any such
option or right, the Warrant Price then in effect hereunder shall be adjusted
immediately to the Warrant Price which would have been in effect at the time of
such expiration or termination had such option or convertible security, to the
extent outstanding immediately prior to such expiration or termination, never
been issued.  For purposes of
Section 12, the expiration or termination of any option or convertible
security which was outstanding as of the date of issuance of this Warrant shall
not cause the Warrant Price hereunder to be adjusted unless, and only to the
extent that, a change in the terms of such option or convertible security
caused it to be deemed to have been issued after the date.

 

                (e)           Calculation of Consideration
Received.  If any Common Stock,
option or convertible security is issued or sold or deemed to have been issued
or sold for cash, the consideration received therefor shall be deemed to be the
amount received by the Company therefor. 
If any Common Stock, option or convertible security is issued or sold
for a consideration other than cash, the amount of the consideration other than
cash received by the Company shall be the fair value of such consideration,
except where such consideration consists of securities traded on a national
security exchange or automated quotation system in the United States, in which
case the amount of consideration received by the Company shall be the Fair Market
Value thereof as of the date of receipt. 
If any Common Stock, option or convertible security is issued to the
owners of the non-surviving entity in connection with any merger in which
the Company is the surviving Company, the amount of consideration therefor
shall be deemed to be the fair value of such portion of the net assets and
business of the non-surviving entity as is attributable to such Common
Stock, option or convertible security, as the case may be.  The fair value of any consideration other
than cash and 

 

8

 

securities traded on a national
security exchange or automated quotation system in the United States shall be
determined in good faith by a majority of the Board of Directors of the Company.

 

                (f)            Integrated Transactions.  In case any option is issued in connection
with the issue or sale of other securities of the Company, together comprising
one integrated transaction in which no specific consideration is allocated to
such option by the parties thereto, in the event the Board of Directors does
not allocate specific consideration in respect thereof in accordance with the
terms hereof following receipt of a detailed written notice (the “Allocation
Notice”) from a Warrant Holder requesting the same (the “Requesting Holder”)
with respect to a specific issuance, the options shall be deemed to have been
issued for a consideration of $.00002. 
The Board of Directors shall use commercially reasonable efforts to make
such allocation within the time requested in writing by the Warrant Holder but,
in any event, the Board of Directors shall make such allocation within sixty
(60) days from the date it receives the written request for the same.  Furthermore, in the event the Board of
Directors has yet to make the aforementioned allocation by the end of the
Exercise Period and the Requesting Holder has not exercised this Warrant, the
Exercise Peroid shall be extended until three business days following the date
(the “Allocation Date”) the Board makes such allocation and provides the
Warrant Holder with written notice thereof. 
In the event the Requesting Holder exercises this Warrant following the
date of the Allocation Notice but prior to the Allocation Date and the Board of
Directors makes an allocation which would have the effect of lowering the
applicable Warrant Price, the Requesting Holder shall continue to be entitled
to the benefit of such allocation and promptly following the Allocation Date
the Company shall issue the Requesting Holder such number of additional shares
of Common Stock having a value, based on the Fair Market Value in effect on the
exercise date of this Warrant, as would be necessary to effectuate the
operation of the provisions set forth in Sections 11 or 12 hereof, as
applicable, as if such provisions had been effectuated immediately prior to the
exercise date of this Warrant.

 

                (g)           Record Date.  If the Company takes a record of the holders
of Common Stock for the purpose of entitling them (a) to receive a dividend or
other distribution payable in Common Stock, options or in convertible
securities or (b) to subscribe for or purchase Common Stock, options or
convertible securities, then such record date shall be deemed to be the date of
the issue or sale of the shares of Common Stock deemed to have been issued or
sold upon the declaration of such dividend or upon the making of such other
distribution or the date of the granting of such right of subscription or
purchase, as the case may be.

 

                (h)           Subdivision or Combination of
Common Stock.  If the Company at any
time subdivides (by any stock split, stock dividend, recapitalization or
otherwise) one or more classes of its outstanding shares of Common Stock into a
greater number of shares, the Warrant Price in effect immediately prior to such
subdivision shall be proportionately reduced and the number of shares of Common
Stock issuable upon the exercise of this Warrant shall be proportionately
increased, and if the Company at any time combines (by reverse stock split or
otherwise) one or more classes of its outstanding shares of Common Stock into a
smaller number of shares, the Warrant Price in effect immediately prior to such
combination shall be proportionately increased and the number of shares of
Common Stock issuable upon the exercise of this Warrant shall be
proportionately decreased.

 

                (i)            Reorganization, Reclassification,
Consolidation, Merger or Sale.  Any
recapitalization, reorganization, reclassification, consolidation, merger, sale
of all or substantially all of the Company’s assets or other transaction, in
each case which is effected in such a manner that the holders of Common Stock
are entitled to receive (either directly or upon subsequent liquidation) stock,
securities or assets with respect to or in exchange for Common Stock, is
referred to herein as an “Organic Change”. 
Prior to the consummation of any Organic Change, the Company shall make
appropriate provisions  to insure that
the Warrant Holder shall thereafter have the right to acquire and receive, in
lieu of or in addition to (as the case may be) the Underlying Shares
immediately theretofore acquirable and receivable upon the exercise of this
Warrant, such shares of stock, securities or assets as the Warrant Holder would
have received in connection with such Organic Change if the Warrant Holder had
exercised its Warrant immediately prior to such Organic Change.  In each such case, the Company shall also
make appropriate provisions to insure that the provisions of Sections 11 and 12
hereof shall thereafter be applicable to this Warrant.  The Company shall not effect any such
consolidation, merger or sale, unless prior to the consummation thereof, the
successor 

 

9

 

entity (if other than the
Company) resulting from consolidation or merger or the entity purchasing such
assets assumes by written instrument the obligation to deliver to the Warrant
Holder such shares of stock, securities or assets as, in accordance with the
foregoing provisions, the Warrant Holder may be entitled to acquire.

 

                (j)            Certain Events.  If any event occurs of the type contemplated
by the provisions of Sections 11 and 12 but not expressly provided for by such
provisions (including, without limitation, the granting of stock appreciation
rights, phantom stock rights or other rights with equity features, but
excluding Exempt Issuances), then the Board of Directors shall make an
appropriate adjustment in the Warrant Price so as to protect the rights of the
Warrant Holder; provided that no such adjustment shall increase the Warrant
Price as otherwise determined pursuant to Sections 11 and 12 or decrease the
number of Underlying Shares issuable upon exercise of this Warrant.

 

                (k)           Notices.

 

(i)            Not less than one (1) week after any
adjustment of the Warrant Price, the Company shall give written notice thereof
to the Warrant Holder, setting forth in reasonable detail and certifying the
calculation of such adjustment.

 

(ii)           The Company shall give written notice
to the Warrant Holder at least fifteen (15) days prior to the date on which the
Company closes its books or takes a record (a) with respect to any dividend or
distribution upon Common Stock; provided, however, in the event the Company’s
Common Stock is listed or traded on a national securities exchange or quotation
system in the United States, as the case may be, the Company need only comply
with this part (ii)(a) in connection with the Company’s first ordinary Common
Stock dividend, and thereafter no notice shall be required pursuant to this
part (ii)(a) with respect to regular payment of such ordinary Common Stock
dividend, (b) with respect to any pro rata subscription offer to holders of
Common Stock or (c) for determining rights to vote with respect to any Organic
Change, dissolution or liquidation.

 

(iii)           The Company shall also give written
notice to the Warrant Holder at least twenty (20) days prior to the date on
which any Organic Change shall take place.

 

13.           Certain Events.  If any of the following occurs on or before
the end of the Exercise Period:

                (a)           a consolidation or merger of the
Company with or into another entity (other than any merger as to which the
Company is the surviving corporation and there is no change in the Common Stock
in connection therewith),

                (b)           a liquidating dividend with respect
to the Common Stock, or

                (c)           a tender offer or exchange offer with respect to the
Common Stock (other than a tender offer that has not been recommended by the
Company’s Board of Directors),

 

(each, an “Event”), in the event the Board of
Directors determines in good faith that operation of this provision will not in
any way adversely affects the interests of the Company, the Company’s
shareholders or any party to the Event, then in connection with any such Event,
the Company shall use commercially reasonable efforts to provide that the
Warrant Holder shall have the right, in lieu of exercising the Warrant in
advance of such Event and receiving the consideration which the Warrant Holder
would receive in connection with such consolidation or merger, liquidating dividend
or tender offer (the “Event Consideration”), upon surrender of this Warrant to
the Company or its duly authorized agent or to the depositary or exchange
agent, as the case may be, to receive the Event Consideration with respect to
the Underlying Shares for which this Warrant is exercisable reduced by the
Warrant Price.  If set forth in writing,
the Warrant Holder may condition the surrender of this Warrant upon the
occurrence of the Event.  Such reduction
in the Event Consideration shall first be applied to any cash included in the
Event 

 

10

 

Consideration and, to the extent that such cash is
less than the Warrant Price, the amount of the securities or other property to
be received by the Warrant Holder shall be reduced by an amount that, together
with any such cash, is (as determined in good faith by the Board of Directors)
equal to the Warrant Price.  The
provisions of this Section 13 shall also apply to successive Events.

 

14.           INTENTIONALLY DELETED.

 

15.           Payment of Taxes.  All shares of Common Stock issued upon the
exercise of this Warrant shall be validly issued, fully paid and nonassessable,
and the Company shall pay all taxes and other governmental charges that may be
imposed in respect of the issue or delivery thereof.  The Company shall not be required, however,
to pay any tax or other charge imposed in connection with any transfer involved
in the issue of any certificate for shares of Common Stock in any name other
than that of the holder of this Warrant surrendered in connection with the
purchase of such shares, and in such case the Company shall not be required to
issue or deliver any stock certificate until such tax or other charge has been
paid or it has been established to the Company’s satisfaction that no tax or
other charge is due.

 

16.           Fractional Shares.  No fractional shares of the Company’s Common
Stock will be issued in connection with any purchase hereunder but in lieu of
such fractional shares, the Company shall make a cash refund therefor equal in
amount to the product of the applicable fraction multiplied by the difference
between the Fair Market Value per Underlying Share and the Warrant Price per
share paid by the holder for its Underlying Shares upon such exercise.

 

17.           Loss, Theft, Destruction or
Mutilation; Nontransferability of Warrant. 
Upon receipt by the Company of evidence reasonably satisfactory to it
that this Warrant has been mutilated, destroyed, lost or stolen, and in the
case of a mutilated warrant, upon surrender and cancellation thereof, the
Company will execute and deliver in the Warrant Holder’s name, in exchange and
substitution for the warrant so mutilated, destroyed, lost or stolen, a new
warrant of like tenor substantially in the form thereof with appropriate insertions
and variations.  This Warrant may not be
transferred, conveyed or otherwise disposed of by the Warrant Holder without
the prior written consent of the Company.

 

18.           Computations.  The certificate of any firm of independent
public accountants of recognized standing selected by the Company shall be
conclusive evidence of the correctness of any computation under this Warrant.

 

19.           Governing Law.  This Warrant shall be governed by, construed
and enforced in accordance with, the laws of the State of North Carolina
without giving effect to its principles of conflicts of laws. Both parties
agree to and accept the jurisdiction of the courts of North Carolina and
consent to the State of North Carolina as the forum for any claim brought
hereunder.

 

20.           Headings.  The descriptive headings of the several
sections of this Warrant are inserted for convenience only and do not
constitute a part of this Warrant.

 

21.           1933 Act Registration.  Neither this Warrant nor the Underlying
Shares have been or will (except as provided below) be registered under the
1933 Act, and are “restricted securities” as defined under the 1933 Act.  The Warrant Holder, by accepting this
Warrant, agrees (a) to make no sale or other transfer of this Warrant or
Underlying Shares issuable upon exercise of rights arising hereunder except in
conformity with the 1933 Act, and (b) that certificates representing Underlying
Shares, so long as the Underlying Shares are restricted securities, will bear a
legend in form satisfactory to the Company’s counsel which reflects the
foregoing restriction.

 

22.           No Impairment. The Company will not, by amendment
of its charter or through reorganization, consolidation, merger, dissolution,
sale of assets or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms of this Warrant, but will at all times in
good faith assist in the carrying out of all such terms and in the taking of
all such action as may be necessary or appropriate in order to protect the
rights of the holder of this Warrant against impairment.

 

11

 

                IN WITNESS WHEREOF, the Company has caused this
Warrant to be signed by its duly authorized officer on the date of this
Warrant.

 

	
   

  	
   

  	
  CONSONUS TECHNOLOGIES,
  INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: /s/Michael G. Shook

  
	
   

  	
   

  	
  Title: Chief Executive
  Officer

  

 

 

ACCEPTED BY

 

AVNET, INC.

 

 

By: /s/Stephen L. Quick

Title: Director

 

12

 

Rider A

 

 

PURCHASE AGREEMENT

 

 

	
   

  	
   

  	
  Date: 

  	
   

  	
   

  

 

TO:         Strategic Technologies, Inc.

 

                                The undersigned, pursuant to the
provisions set forth in the attached Warrant, hereby agrees to purchase                     
shares of Common Stock covered by such Warrant, and makes payment herewith in
full therefor at the price per share provided by this Warrant.

 

 

 

	
   

  	
  Signature:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
   

  
	
   

  	
   

  	
   

  

 

 

FIRST
AMENDMENT TO WARRANT 

TO PURCHASE COMMON STOCK OF 

CONSONUS TECHNOLOGIES, INC.

THIS FIRST
AMENDMENT TO WARRANT TO PURCHASE COMMON STOCK ON CONSONUS TECHNOLOGIES, INC. (the “Amendment”),
dated as of the 8th day of October, 2007, is made by and between

CONSONUS
TECHNOLOGIES, INC., a Delaware corporation (“Company”); and

AVNET, INC.,
a Delaware corporation (“Warrant Holder”),

to the Warrant to Purchase
Common Stock of Consonus Technologies, Inc., dated January 22, 2007 (as
amended, modified, restated or supplemented from time to time, the “Warrant”),
executed by the Company and accepted by the Warrant Holder. All capitalized
terms used herein without definition shall have the meanings ascribed to such
terms in the Warrant.

RECITALS

A.          The Warrant contains various
agreements between the Company and the Warrant Holder regarding the obligation
of the Company to sell certain of its common stock to the Warrant Holder.

B.
          The Company and the Warrant
Holder have agreed to amend the Warrant as set forth in this Amendment.

STATEMENT OF AGREEMENT

NOW,
THEREFORE, in consideration of the premises and for other good and valuable
consideration, the receipt and sufficiency of which are hereby expressly acknowledged,
the Company and the Warrant Holder hereby agree as follows:

ARTICLE I

AMENDMENT TO WARRANT

Section
8(a) of the Warrant is hereby amended by adding the following sentence to the
end thereof:

“Notwithstanding
anything appearing in this Section 8(a) that may be to the contrary, in the
event the Company shall file a registration statement in connection with the company’s
initial public offering and such initial public offering is over-allotted, then
the Company shall, at the Company’s sole expense, register or qualify the
Target Amount (as defined below) of the Underlying

 

Shares,
concurrently with the registration or qualification of the shares to be issued
in connection with such over-allotment, all to the extent requisite to permit
the public offering and sale of the Target Amount of the Underlying Shares
through the facilities of all appropriate securities exchanges and the
over-the- counter market, and will use its best efforts through its officers,
directors, auditors and counsel to cause such registration statement to become
effective as promptly as practicable. The term “Target Amount” shall mean the
number of Underlying Shares that is equal to
thirty-five percent (35%)  of the total number of over-allotted
shares of the Company’s stock offered in the Company’s initial public
offering.”

ARTICLE II

GENERAL

2.1           Full Force and Effect. As expressly amended hereby,
the Warrant shall continue in full force and effect in accordance with the
provisions thereof. As used in
the Warrant, “hereinafter,” “hereto,” “hereof,” or words of similar import,
shall, unless the context otherwise requires, mean the Warrant as amended by
this Amendment.

2.2           Applicable Law. This
Amendment shall be governed by and construed in accordance with the internal
laws and judicial decisions of the State of North Carolina.

2.3           Counterparts. This Amendment may be executed in one
or more counterparts, each of which shall constitute an original, but all of
which when taken together shall constitute but one and the same instrument.

2.4           Further Assurances. The Company shall execute and
deliver to the Warrant Holder such documents, certificates and opinions as
Avnet may reasonably request to effect the amendments contemplated by this
Amendment.

2.5           Headings. The headings
of this Amendment are for the purpose of reference only and shall not effect
the construction of this Amendment.

2.6            Waiver of Jury Trial. TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, THE COMPANY AND THE WARRANT HOLDER EACH WAIVES THE
RIGHT TO TRIAL BY JURY IN ANY ACTION,
SUIT, PROCEEDING OR COUNTERCLAIM OF ANY KIND ARISING OUT OF OR RELATED TO THIS
AMENDMENT OR THE WARRANT OR THE TRANSACTIONS RELATED HERETO OR THERETO.

[signatures on next
page]

2

 

IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
and delivered by their duly authorized officers to be effective on the day and
year first above written.

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  CONSONUS TECHNOLOGIES, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Michael G.
  Shook

  
	
   

  	
   

  	
  Name:

  	
  Michael G. Shook

  
	
   

  	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  WARRANT HOLDER:

  
	
   

  	
   

  
	
   

  	
  AVNET, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ W. R. Crowell

  
	
   

  	
   

  	
  Name:

  	
  W. R. Crowell

  
	
   

  	
   

  	
  Title:

  	
  V. P and C.F.O.

  

 

3Exhibit 10.7

 

POST-MERGER
OPERATING AGREEMENT

 

This Post-Merger Operating Agreement (this “Agreement”)
is entered into as of January 22, 2007 (the “Effective Date”) by
and among (i) Consonus Acquisition Corp., d/b/a Consonus, a Delaware
corporation (“Consonus”), (ii) Knox Lawrence International, LLC, a
Delaware limited liability company and majority stockholder of Consonus (“KLI”),
(iii) Strategic Technologies, Inc., a North Carolina corporation (“STI”),
(iv) Michael G. Shook, William M. Shook, and Irvin Miglietta, each an
individual and a principal stockholder of STI (the “STI Stockholders”),
and (v) Consonus Technologies, Inc., a Delaware corporation (“Parent”)
(collectively, the “Parties”).

 

W I T N E
S S E T H

 

WHEREAS, the Parties
desire for Parent to be established to effect a merger transaction (“Merger”)
in which each of STI and Consonus, as the surviving entities, will become
wholly-owned subsidiaries of Parent; and

 

WHEREAS, each of STI
and Consonus have entered into certain loans in their own names with certain
Lenders (as defined below), which loans are secured by the respective assets of
STI and Consonus as more particularly described below; and

 

WHEREAS, the Parties
desire to set forth their agreement for the joint operation of their business
after the effective time of the Merger (the “Closing”) specifically to
preserve the Lenders’ security interest in the Collateral and the Lenders’
remedies under the Loan Documents without change or interruption; and

 

WHEREAS, the Lenders
have consented to the Merger; and

 

WHEREAS, the Parties
agree to operate the Companies (defined below) post-Closing pursuant to the
terms and conditions of this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual benefits to be derived hereby, the representations,
warranties and covenants contained herein and other good and valuable
consideration (the receipt and sufficiency of which is hereby mutually
acknowledged by the Parties), the Parties hereto agree as follows:

 

I.              Definitions. Capitalized terms used herein shall have
the meaning given them in the Recitals or as set forth below.

 

“Access” means MRA Systems, Inc.,
d/b/a/ Access Distribution MRA Systems, Inc., d/b/a/ Access Distribution.

 

“Access Credit Agreement” means that
certain Amended and Restated Refinancing Agreement dated as of May 20,
2005, between STI and Access, as amended

 

 

further by that certain First Amendment to Amended and Restated
Refinancing Agreement dated as of June 22, 2006.

 

“Access Collateral” means the
collateral pledged to Access by STI pursuant to the Access Security Agreement.

 

“Access Loan” means the aggregate of
the loans and trade debt issued to STI from Access pursuant to the Access
Credit Agreement.

 

“Access Security Agreement” means,
collectively, (i) that certain Amended and Restated Security Agreement
dated as of July 31, 2002, as amended May 20, 2005 and as further
amended June 22, 2006, in which STI granted to Access a first lien and
security interest in all of STI’s assets, (ii) that certain Financing
Agreement dated as of October 17, 2001, between STI and The CIT
Group/Business Credit, Inc., which interest was assigned to Access on April 12,
2002, and (iii) a subordinate lien on certain North Carolina real property
owned by STI pursuant to that North Carolina Deed of Trust executed by STI in
favor of Access dated June 3, 2003.

 

“Collateral” means, collectively, the
Access Collateral and the US Bank Collateral.

 

“Company” means, individually or in
the aggregate, Consonus, STI, or Parent.

 

“Consonus-Utah” means Consonus, Inc.,
a Utah corporation.

 

“Consonus-Utah Loan” means that
certain loan issued to Consonus by Consonus-Utah in the original principal
amount of $3,550,000 evidenced by that certain Secured Promissory Note dated May 31,
2005.

 

“Consonus-Utah Security Agreement”
means that certain Security Agreement between Consonus and Consonus-Utah dated
as of May 31, 2005 to secure Consonus’ obligations under the Consonus-Utah
Loan by a lien on all of Consonus’ properties and assets, subordinate only to
the lien granted to US Bank under the US Bank Security Agreement.

 

“IPO” means the initial public
offering of the common stock of Parent or its successor on the Toronto Stock
Exchange, London Stock Exchange Alternative Investment Market or such other
public exchange or market as agreed to by the Parties.

 

“Lender” means, individually or
collectively as the context requires, Access, US Bank, Sun Microsystems, and
Consonus-Utah.

 

“Loans” means the debt issued to STI
or Consonus pursuant to any of the Access Credit Agreement, Sun Restructuring
Agreement, US Bank Credit Agreement and Consonus-Utah Loan.

 

2

 

“Loan Documents” means each of the
credit agreements, loan agreements, notes and security agreements executed by
STI or Consonus respecting the Loans.

 

“Operating Companies” means STI and
Consonus.

 

“Person” means any individual or
entity, including, without limitation, a corporation, limited liability
company, partnership, trust or governmental entity.

 

“US Bank Collateral” means the collateral
pledged to US Bank by Consonus pursuant to the US Bank Security Agreement.

 

“US Bank Security Agreement” means
that certain security agreement dated as of May 31, 2005, between Consonus
and US Bank in which Consonus granted to US Bank a first lien and security
interest in all of Consonus’ personal property.

 

“US Bank Loan” means the aggregate
$13,000,000 term and revolving credit facility issued to Consonus by US Bank
pursuant to the US Bank Credit Agreement.

 

“US Bank Credit Agreement” means that
certain Credit Agreement dated as of May 31, 2005 between Consonus and US
Bank to finance a portion of Consonus’ acquisition of certain Questar
Corporation assets and to provide working capital needs.

 

“Senior Lenders” means either or both
of US Bank or Access.

 

“Stockholders” means the STI
Stockholders and KLI.

 

“Sun Loan” means the debt extended to
STI by Sun Microsystems pursuant to the Sun Restructuring Agreement, which loan
is secured by a lien on STI assets subordinate to the lien granted to Access.

 

“Sun Microsystems” means Sun
Microsystems, Inc., a Delaware corporation.

 

“Sun Restructuring Agreement” means
that certain Restructuring Agreement among Sun Microsystems, STI and Access
dated as of July 14, 2003, which governs the Sun Loan.

 

“Termination Date” means the date on
which the Access Loan terminates or the Parties and Access amend the Access
Loan in a mutually agreeable manner.

 

II.            Reaffirmation of Loan Documents.

 

A.            Ratification. Except as expressly
stated herein or as modified by the Operating Companies and their respective
Lenders in contemplation of the Merger, the Loan Documents are and shall remain
unchanged and in full force and effect. Neither the Merger nor this Agreement
is intended to be nor shall it constitute a novation or accord and satisfaction
of the Loan Documents or of the indebtedness secured thereby. STI and

 

3

 

Consonus hereby restate, ratify, confirm and approve the Loan Documents
and each Operating Company agrees that the Loan Documents to which they are a
party constitute the valid and binding obligation and agreement of the
applicable Operating Company, enforceable by the applicable Lender in
accordance with their respective terms.

 

B.            No Defense. Each Operating Company
hereby agrees that the execution of this Agreement shall not be raised as and
shall not constitute a defense or a claim to any subsequent exercise by a
Lender of its rights and remedies under the Loan Documents to which it is a
party.

 

C.            No Modification of Collateral. Neither
the Merger nor this Agreement are intended, and they shall not be construed, to
effect any change in or to the Collateral securing the Loans or the perfection
and priority of lien held by the applicable Lender prior to Closing. The
Parties intend that all of the Collateral securing the Loans prior to Closing
shall remain subject to the same lien and priority as security for such Loans
after Closing.

 

III.           Joint Management of Companies.

 

A.            To realize the efficiencies created by the
Merger, the Companies intend to pool certain management functions in the Parent
which will continue to operate the business through its legally separate and
distinct subsidiaries, STI and Consonus; provided, however, that in no event
shall any management, monitoring or other similar fees payable to KLI or its
affiliates be so pooled or otherwise allocated to STI. The Parties agree to
segregate the finances and assets of the Companies in the manner set forth
herein. Each Operating Company will bear its own management costs post-Closing,
including, but not limited to employee salaries and benefits, consistent
generally with their current costs.

 

B.            The Companies agree to allocate fairly and
reasonably among the Companies, on an arms-length basis, shared expenses, including
shared office space and corporate personnel, and to record and pay for such
costs separately as individual expenses and revenues of the appropriate
Operating Company. To reflect these allocations, the Companies agree to
establish separate inter-Company records and accounts to record and allocate
all shared costs. Inter-Company accounts and allocations of shared expenses
among the Companies will be established by mutual agreement of the Companies,
and will be on terms which are intrinsically fair and are no less favorable
than would be obtained in a comparable arm’s-length transaction with an
unrelated third party.

 

C.            Under those circumstances in which an
Operating Company uses any of the resources of the other Operating Company, the
Operating Company receiving such resources will pay the other Operating Company
the fair value, calculated on an arm’s length basis, of the resources provided.

 

4

 

D.            To insure the highest level of post-Closing
customer satisfaction, each Operating Company, in consultation with Parent,
shall continue to control all of its communications with, and decisions
relating to, its customers and prospective customers. To the extent the
Operating Companies have mutual customers or prospective customers, the
Operating Companies shall consult with each other and Parent and develop a
mutually acceptable customer communications policy whereby each Operating
Company will control all communications relating to its respective business,
with prompt notice to the other Operating Company of any customer inquiries or
other communications relating to such other Operating Company’s business. To
the extent a customer of one Operating Company desires to acquire products or
services of the other Operating Company, the Operating Companies shall use all
reasonable efforts to facilitate such a transaction or transactions; provided,
however, that the Operating Company with the original relationship with such
customer shall be given credit for the additional revenue generated through the
provision of such products or services by the other Operating Company (which
other Operating Company shall provide such products or services as a
subcontractor or pursuant to such other arrangement as is mutually agreed to by
the Operating Companies). Notwithstanding the foregoing, the Parties
acknowledge that STI has certain restrictions on selling products that will
require it to sell directly to the end user, even if such end user is a
Consonus customer. Under such circumstances, the Operating Companies will agree
upon a reasonable fee to be paid by STI to Consonus, such as a finder’s fee.

 

E.             To insure continuity of management
post-Closing, Parent and Stockholders agree that Parent’s management will
consist initially of Michael G. Shook, Chief Executive Officer, William M.
Shook, Executive Vice President of Sales & Marketing, and Karen
Bertaux, Vice President of Operations, Mergers and Acquisitions and Investor
Relations, along with Daniel Milburn, as Senior Vice President of Hosting and
Infrastructure Services, and Robert Muir as Vice President and Chief Financial
Officer.

 

F.             Parent and Stockholders further agree that
the management and Board of Directors of the Operating Companies immediately
after Closing shall be as follows:

 

	
  Operating
  Company

  	
   

  	
  Board of Directors

  	
   

  	
  Management

  
	
  STI

  	
   

  	
  Michael G. Shook

  William M. Shook

  Irvin Miglietta

  	
   

  	
  Michael G. Shook

  (CEO/President)

  William M. Shook (Vice

  President Sales/Marketing)

  Karen Bertaux (Vice

  President Finance/CFO)

  James Togher (VP of

  Solutions Consulting and

  Delivery)

  Mark Arnold (VP of

  Enterprise Services)

  
	
  Consonus

  	
   

  	
  Nana Baffour

  	
   

  	
  Daniel Milburn (COO)

  
	
   

  	
   

  	
  Johnson Kachidza

  	
   

  	
  Robert Muir (CFO)

  

 

5

 

Parent and Stockholders also agree that following the Closing (i) the
directors of the Operating Companies shall not be removed by Parent, (ii) that
any new member of the Board of Directors of an Operating Company shall be
selected by the other directors of such Operating Company then in office, and (iii) management
of each Operating Company shall be appointed by its Board of Directors.

 

IV.           Covenants Regarding Segregation of Businesses and Assets. Prior to the Termination Date, absent the
prior written consent of the Senior Lenders, the Parties agree as follows:

 

A.            Separate Legal Existence. The
Parties shall maintain the separate legal existence of each Company. Each
Company shall hold itself out and identify itself as a separate and distinct
entity under its own name and not as a division or part of any other
Person (except as a subsidiary of Parent). The Companies shall conduct their
business under their respective corporate names. Parent shall not hold in its
name any interest in any of the assets or liabilities of the Operating
Companies or the proceeds of the assets and liabilities of the Operating
Companies. Neither the Parent nor the Stockholders shall be obligated to
contribute capital to the Operating Companies.

 

B.            Organization Documents. Except to
the extent contemplated by the IPO, neither Parent nor the Stockholders shall
amend the Certificate or Articles of Incorporation or By-laws of any Company.

 

C.            Segregation of Entities and Properties.
The Companies agree to segregate the assets of each Company and account for
such assets and the proceeds thereof separately. As such, the Companies agree
to:

 

(i)            maintain the accounts,
books and records of each Company separately from any other Person and for each
Company to file its own tax returns;

 

(ii)           maintain the books,
records, resolutions and agreements of each Company as the official records of
each Company;

 

(iii)          segregate and not
commingle the funds or assets of any one Company with those of any other
Person;

 

(iv)          hold the assets of each
Company separately in the corporate name of the respective Company;

 

(v)           conduct the business of
each Company in name of such Company;

 

(vi)          maintain the financial
statements, accounting records and other Company documents of each Company
separate from any other Person; provided, however, that Parent may consolidate
the financial statements of the

 

6

 

Operating Companies so long as such
consolidated statements clearly indicate that the assets of STI are unavailable
for the payment of the liabilities of Parent and Consonus, and that the assets
of Consonus are unavailable for the payment of the liabilities of Parent and
STI;

 

(vii)         pay the liabilities of
each Company, including the salaries of each Company’s employees, solely out of
the funds and assets of the respective Company;

 

(viii)        observe all corporate
formalities separately for each Company;

 

(ix)           maintain an arm’s-length
relationship among each Company and with their affiliates;

 

(x)            require the Companies
to maintain their assets in such a manner that it will not be costly or
difficult to segregate, ascertain or identify their individual assets from
those of any other Person;

 

(xi)           prohibit the Companies
from making loans or advances to any Person (including inter-Company advances)
unless such loans or advances are permitted in the Loan Documents;

 

(xii)          prohibit each Company
from entering into or being a party to, any transaction with such other Company
or the Stockholders except in the ordinary course of such Company’s business
and on terms which are intrinsically fair and are no less favorable to it than
would be obtained in a comparable arm’s-length transaction with an unrelated
third party; and

 

(xiii)         abide by the covenants,
conditions and agreements set forth in their respective Loan Documents.

 

D.            Merger or Sale of Stock. Except to
the extent permitted by the Loan Documents, Merger Agreement or contemplated by
the IPO, neither Parent nor the Stockholders shall merge any of the Companies,
or sell all or substantially all of the assets or shares of any Company.

 

E.             Dissolution, Winding Up, Bankruptcy.
Parent shall not (i) engage in, seek or consent to any dissolution,
winding up, liquidation, or file a bankruptcy, insolvency or reorganization
petition or otherwise institute insolvency proceedings or otherwise seek any
relief under any laws relating to the relief from debts or the protection of
debtors generally, (ii) seek or consent to the appointment of a receiver,
liquidator, assignee, trustee, sequestrator, custodian or any similar official
for it or for all or any portion of its properties, or (iii) make any
assignment for the benefit of its creditors.

 

V.            Term and Termination. This
Agreement shall be effective as of the Effective Date and shall continue until
the Termination Date.

 

7

 

VI.           Effect and Priority of Documents.

 

A.            This
Agreement is intended to guide the post-Closing performance of the Parties’
respective obligations, covenants and duties to each other consistent with the
segregation of the Access Collateral and the U.S. Bank Collateral and the terms
of the applicable Loan Documents. As such, this Agreement supplements, rather
than supplants, the Loan Documents, it being the Parties’ intention to preserve
the Operating Companies’ obligations under the Loan Documents and the Lenders’
security interests in each Operating Company’s respective Collateral after the
Closing.

 

B.            Agreement as
Policy. This Agreement shall constitute the post-Closing policy
and procedure of each Company, which policy shall not be subject to amendment
or terminated except as otherwise set forth herein. The Parties agree that the
failure of any employee of a Company to comply with the authority, policies or
procedures set forth in this Agreement would constitute the failure of an
employee to comply with a Company policy or procedure with resulting
disciplinary action.

 

VII.         Miscellaneous.

 

A.            Time. Time shall be of the essence
hereof.

 

B.            Notices. All notices and other
communications hereunder (collectively, “Notice”), shall be in writing
and shall be deemed given (i) on the date of delivery, if delivered
personally (ii) on the date of confirmation of receipt, if delivered by
commercial delivery service, or mailed by registered or certified mail (return
receipt requested) or (iii) on the date of confirmation of receipt, if
sent via facsimile to the parties at the following address (or at such other
address for a party as shall be specified by like notice):

 

	
  To STI:

  	
   

  	
  Strategic Technologies, Inc.

  
	
   

  	
   

  	
  301 Gregson Drive

  
	
   

  	
   

  	
  Cary, North Carolina 27511

  
	
   

  	
   

  	
  Attn: Chief Executive Officer

  
	
   

  	
   

  	
  Facsimile No.: (919) 379-8000

  
	
   

  	
   

  	
  Telephone No.: (919) 379-8100

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Wyrick Robbins Yates & Ponton, LLP

  
	
  (which shall not constitute notice)

  	
   

  	
  4101 Lake Boone Trail, Suite 300

  
	
   

  	
   

  	
  Raleigh, North Carolina 27607

  
	
   

  	
   

  	
  Attn: Lisa D. Inman, Esq.

  
	
   

  	
   

  	
  Facsimile No.: (919) 781-4865

  
	
   

  	
   

  	
  Telephone No.: (919) 781-4000

  

 

8

 

	
  To Consonus:

  	
   

  	
  Consonus Acquisition Corp.

  
	
   

  	
   

  	
  180 East 100 South

  
	
   

  	
   

  	
  Salt Lake City, Utah 84111

  
	
   

  	
   

  	
  Attn: Chief Executive Officer

  
	
   

  	
   

  	
  Facsimile No.: (801) 617-2980

  
	
   

  	
   

  	
  Telephone No.: (801) 617-2998

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Greenberg Traurig, LLP

  
	
  (which shall not constitute notice)

  	
   

  	
  3290 Northside Parkway, Suite 400

  
	
   

  	
   

  	
  Atlanta, Georgia 30327

  
	
   

  	
   

  	
  Attn: Theodore I. Blum, Esq.

  
	
   

  	
   

  	
  Facsimile No.: (678) 553-2621

  
	
   

  	
   

  	
  Telephone No.: (678) 553-2620

  
	
   

  	
   

  	
   

  
	
  To Stockholders:

  	
   

  	
  Knox Lawrence International, LLC

  
	
   

  	
   

  	
  445 Park Avenue, 20th Floor

  
	
   

  	
   

  	
  New York, NY 10022

  
	
   

  	
   

  	
  Attn: Chairman

  
	
   

  	
   

  	
  Facsimile No.: (212) 792-0958

  
	
   

  	
   

  	
  Telephone No.: (212) 792-0920

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Michael G. Shook

  
	
   

  	
   

  	
  William M. Shook

  
	
   

  	
   

  	
  Irvin J. Miglietta

  
	
   

  	
   

  	
  301 Gregson Drive

  
	
   

  	
   

  	
  Cary, North Carolina 27511

  
	
   

  	
   

  	
  Facsimile No.: (919) 781-4865

  
	
   

  	
   

  	
  Telephone No.: (919) 781-4000

  

 

C.            Assignment. Neither this Agreement
nor any rights or obligations hereunder may be assigned by any Party
hereto without the prior written consent of all other Parties.

 

D.            Further Assurances. The Parties
hereto shall, with reasonable diligence, do all such things, provide all such
reasonable assurances, and execute such additional documents or instruments as may be
required by any other Party and as may be reasonably necessary or
desirable to effect the purpose of this Agreement and carry out its provisions.

 

E.             Headings; Definitions. The
descriptive headings of the several paragraphs of this Agreement are inserted
for convenience only, are not part of this Agreement and do not in any way
limit or amplify the terms or provisions of this Agreement.

 

F.             Integration. This Agreement and the
Loan Documents referenced herein (all of which are incorporated by reference as
integral elements hereof) constitute the entire agreement between the Parties
with respect to the subject matter contained herein

 

9

 

and supersedes all agreements, representations and understandings of
the Parties with respect to the subject matter hereof.

 

G.            No Third Party Beneficiaries. This
Agreement is entered into solely for the benefit of the Parties hereto and the
Lenders, and no term, provision or covenant hereunder shall confer or be deemed
to confer a benefit on any other Person, other than the Parties and the
Lenders.

 

H.            Modification and Waiver. No
supplement, modification or amendment of this Agreement shall be binding unless
executed in writing by all Parties hereto No waiver of any provision of this
Agreement shall constitute, or be deemed to constitute, a waiver of any other
provision, nor shall any waiver constitute a continuing waiver. No waiver shall
be binding unless executed in writing by the Party granting the waiver.

 

I.              Governing Law. This Agreement
shall be governed by and interpreted under Delaware law without regard to the
conflicts of law principles of such jurisdiction.

 

J.             Attorneys’ Fees; Remedies. In the
event any action at law or in equity or other proceeding is brought to
interpret or enforce this Agreement, or in connection with any provision of
this Agreement, the prevailing party shall be entitled to its reasonable
attorneys’ fees and other costs reasonably incurred in such action or
proceeding. The grant of any specific remedy hereunder shall be in addition to
any other remedies that would be available to a Party arising in equity or at
law.

 

K.            Number; Gender. Unless the context
otherwise requires, the singular includes the plural and vice versa, and the
masculine, feminine and neuter include each other.

 

L.             Severability. Each article,
section, subsection and lesser section of this Agreement constitutes
a separate and distinct undertaking, covenant or provision hereof. In the event
that any provision of this Agreement shall finally be determined to be
unlawful, such provision shall be deemed severed from this Agreement, but every
other provision of this Agreement shall remain in full force and effect.

 

M.           Recitals. Each Party hereto
acknowledges and agrees that the recitals set forth at the beginning of this
Agreement are true and correct in all respects and are incorporated herein by
reference.

 

N.            No Party Deemed Drafter. Each Party
to this Agreement acknowledges that such Party has been represented by legal
counsel in preparation of this Agreement. If this Agreement or any provision
hereof is interpreted by a court of law, no provision hereof shall be construed
more harshly against any Party as drafter.

 

O.            Counterparts. This Agreement may be
executed in any number of counterparts, each of which shall be deemed an
original and all of which shall together

 

10

 

constitute one and the same instrument. Facsimile signatures shall be
treated as if they are original signatures.

 

P.             No Partnership Implied; Limited
Relationship. Notwithstanding anything contained in this Agreement among
the Parties, whether express, implied or otherwise, it is understood and agreed
that each of STI, Consonus and Parent are at all times acting and performing
hereunder independently and that nothing herein shall be deemed to create a
partnership, joint venture or other relationship; except that this Agreement
reflects the policy of the Companies respecting the post-Closing operations of
the Companies.

 

[Signature Page Follows]

 

11

 

IN WITNESS WHEREOF, the Parties have executed
this Post-Merger Operating Agreement as of the Effective Date.

 

	
   

  	
   

  	
  CONSONUS

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Consonus Acquisition Corp., d/b/a/ Consonus

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Nana Baffour

  	
   

  
	
   

  	
   

  	
   

  	
    Nana
  Baffour, Chairman

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  KLI

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Knox Lawrence International, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Nana Baffour

  	
   

  
	
   

  	
   

  	
   

  	
    Nana
  Baffour, Managing Principal

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  STI

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Strategic Technologies, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Michael G. Shook

  	
   

  
	
   

  	
   

  	
   

  	
    Michael
  G. Shook, Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  STI STOCKHOLDERS:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/Michael G. Shook

  	
   

  
	
   

  	
   

  	
  Michael G. Shook

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/William M. Shook

  	
   

  
	
   

  	
   

  	
  William M. Shook

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/Irvin J. Miglietta

  	
   

  
	
   

  	
   

  	
  Irvin J. Miglietta

  
							

 

SIGNATURE PAGE TO
POST-MERGER OPERATING AGREEMENT

 

 

	
   

  	
   

  	
  PARENT

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Consonus Technologies, Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Michael G. Shook

  	
   

  
	
   

  	
   

  	
   

  	
  Michael G. Shook, Chief Executive Officer

  

 

SIGNATURE PAGE TO
POST-MERGER OPERATING AGREEMENT (CONTINUED)

 

 

ACKNOWLEDGMENT OF CONTINUATION OF

POST-MERGER OPERATING AGREEMENT

 

THIS
ACKNOWLEDGMENT OF CONTINUATION OF POST-MERGER OPERATING AGREEMENT (this “Acknowledgment”)
is made and entered into this 8th day of October, 2007 by and
among (i) Consonus Acquisition Corp., d/b/a Consonus, a Delaware
corporation, (ii) Knox Lawrence International, LLC, a Delaware limited
liability company, (iii) Strategic Technologies, Inc., a North Carolina
corporation (“STI”), (iv) Michael G. Shook, William M.
Shook, and Irvin Miglietta, each an individual and a former principal
stockholder of STI, and (v) Consonus Technologies, Inc., a Delaware
corporation (collectively, the “Parties”).

 

RECITALS

 

A.            The Parties hereto
are parties to that certain Post-Merger Operating Agreement dated as of January 22,
2007 (the “Operating Agreement”).

 

B.            The Parties desire
to acknowledge and clarify that the Fourth Amendment to Amended and Restated
Refinancing Agreement by and between STI and Avnet, Inc., (the “4th
Amendment”) is not intended to terminate the Operating Agreement.

 

AGREEMENTS

 

NOW,
THEREFORE, in consideration of the recitals, the mutual covenants and
agreements set forth herein and in the Operating Agreement, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:

 

1.             The Parties hereby acknowledge and
agreement that the 4th Amendment does not trigger the Termination
Date under the Operating Agreement, and that the Operating Agreement continues
unimpaired, unaffected and unchanged in any respect.

 

2.             This Acknowledgment may be executed
in several counterparts and delivered by facsimile or email transmission, each
of which shall be deemed an original, but which counterparts shall together
constitute one and the same Acknowledgment.

 

[THE NEXT PAGE IS THE SIGNATURE PAGE]

 

 

IN WITNESS
WHEREOF, the Parties have executed this Acknowledgment of Continuation of
Post-Merger Operating Agreement as of the date first set forth above.

 

	
   

  	
  Consonus
  Acquisition Corp., d/b/a Consonus

  
	
   

  	
  By:

  	
  /s/ NANA BAFFOUR

  
	
   

  	
   

  	
  Nana
  Baffour, Chairman

  
	
   

  	
  Knox
  Lawrence International, LLC

  
	
   

  	
  By:

  	
  /s/ NANA BAFFOUR

  
	
   

  	
   

  	
  Nana
  Baffour, Managing Principal

  
	
   

  	
  Consonus
  Technologies, Inc.

  
	
   

  	
  By:

  	
  /s/ MICHAEL G. SHOOK

  
	
   

  	
   

  	
  Michael G.
  Shook, Chief Executive Officer

  
	
   

  	
  Strategic
  Technologies, Inc.

  
	
   

  	
  By:

  	
  /s/ MICHAEL G. SHOOK

  
	
   

  	
   

  	
  Michael G.
  Shook, Chief Executive Officer

  
	
   

  	
  /s/ MICHAEL
  G. SHOOK

  
	
   

  	
  Michael G.
  Shook

  
	
   

  	
  /s/ WILLIAM
  M. SHOOK

  
	
   

  	
  William M.
  Shook

  
	
   

  	
  /s/ IRVIN J.
  MIGLIETTA

  
	
   

  	
  Irvin J.
  Miglietta

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